Company: EXEEZ
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000895126-25-000053
Chunk: 33

Company: EXPAND ENERGY Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 Lenders (or affiliates of Lenders) under our Credit Facility. We do not expect to post cash or letters of credit to secure our obligations under these hedging arrangements while we have our investment grade ratings. The obligations under these contracts must be secured by cash or letters of credit to the extent that any mark-to-market amounts exceed defined thresholds. As of March 31, 2025, we did not have any cash or letters of credit posted as collateral for our commodity derivatives.

12.InvestmentsMomentum Sustainable Ventures LLC. During the fourth quarter of 2022, the Company entered into an agreement with Momentum Sustainable Ventures LLC to build a new natural gas gathering pipeline and carbon capture project, which will gather and treat natural gas produced in the Haynesville Shale for re-delivery to Gulf Coast markets, including LNG export. The pipeline is expected to have an initial capacity of 1.7 Bcf/d expandable to 2.2 Bcf/d. The carbon capture portion of the project anticipates capturing approximately 1.0 million tons per annum of CO2 and delivering the CO2 to ExxonMobil Low Carbon Solutions Onshore Storage, LLC for additional transportation and storage. The natural gas gathering pipeline is projected for a potential in-service date in the fourth quarter of 2025. We have a 35% interest in the joint venture entity. We have accounted for this investment as an equity method investment, and its carrying value, which is reflected within other long-term assets on the condensed consolidated balance sheets, was $311 million and $307 million as of March 31, 2025 and December 31, 2024, respectively. As of March 31, 2025, the carrying value of our investment included approximately $21 million of capitalized interest related to the project.

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Table of ContentsEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(Unaudited)

13.Supplemental Cash Flow InformationSupplemental disclosures to the consolidated statements of cash flows are presented below.Three Months Ended March 31,20252024Changes in assets and liabilitiesAccounts receivable$(135)$286 Accounts payable(96)(93)Other current assets(25)1 Other current liabilities5 (118)Total$(251)$76 Supplemental cash flow information:Interest paid, net of capitalized interest$91 $20 Income taxes paid (refunds received), net$