Company: EXEEZ
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000895126-25-000053
Chunk: 70

Company: EXPAND ENERGY Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 70
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, at the Company’s election. As of March 31, 2025, we had approximately $2.5 billion available for borrowings under the Credit Facility.

See Note 4 of the notes to our condensed consolidated financial statements included in Item 1 of Part I of this report for further discussion.

Capital Expenditures 

For the year ending December 31, 2025, we currently expect to complete and turn in line 240 to 270 gross wells utilizing approximately 11 to 15 rigs and plan to invest between approximately $2.9 – $3.1 billion in capital expenditures. We currently plan to fund our 2025 capital program through cash on hand, expected cash flow from our operations and borrowings under our Credit Facility. We may alter or change our plans with respect to our capital program and expected capital expenditures based on developments in our business, our financial position, our industry or any of the markets in which we operate. 

Sources and (Uses) of Cash and Cash Equivalents

The following table presents the sources and uses of our cash and cash equivalents for the periods presented:

Three Months Ended March 31, 20252024Cash provided by operating activities$1,096 $552 Proceeds from divestitures of property and equipment— 6 Receipts of deferred consideration60 60 Proceeds from warrant exercise21 — Capital expenditures(563)(421)Contributions to investments(4)(19)Cash paid to purchase debt(436)— Cash paid for common stock dividends(142)(77)Net increase in cash, cash equivalents and restricted cash$32 $101 

Cash Flow from Operating Activities 

Cash provided by operating activities was $1,096 million and $552 million during the Current Quarter and Prior Quarter, respectively. The increase during the Current Quarter is primarily due to increased sales volumes, including those related to the Southwestern Merger, as well as higher prices for the natural gas, oil and NGL we sold. Cash flows from operations are largely affected by the same factors that affect our net income (loss), excluding various non-cash items, such as depreciation, depletion and amortization, certain impairments, gains or losses on sales of assets, deferred income taxes and mark-to-market changes in our open derivative instruments. See further discussion below under Results of Operations.

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Receipts of Deferred Consideration

During both the Current Quarter and Prior Quarter, we received $60 million in deferred consideration associated with our Eagle Ford divestiture transactions