Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 14

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 14
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Mcfe$/McfeHaynesville$60 0.11 $105 0.19 Northeast Appalachia15 0.02 14 0.02 Southwest Appalachia22 0.14 — — Eagle Ford— — 48 0.48 Total severance and ad valorem taxes$97 0.07 $167 0.13 

Severance and ad valorem taxes in 2024 decreased $70 million compared to 2023. The decrease was primarily related to a $48 million decrease due to the Eagle Ford divestitures and a $50 million decrease in Haynesville, which was driven by a decrease in the statutory severance tax rates. These decreases were partially offset by an increase of $5 million in Haynesville and an increase of $22 million in Southwest Appalachia due to the Southwestern Merger.

64

Natural Gas, Oil and NGL DerivativesYears Ended December 31,20242023Natural gas derivatives - realized gains$919 $488 Natural gas derivatives - unrealized gains (losses)(951)1,199 Total gains (losses) on natural gas derivatives$(32)$1,687 Oil derivatives - realized gains (losses)$1 $(38)Oil derivatives - unrealized gains(3)88 Total gains (losses) on oil derivatives$(2)$50 NGL derivatives - realized losses$(4)$— NGL derivatives - unrealized losses(13)— Total losses on NGL derivatives$(17)$— Contingent consideration - realized gains$25 $— Contingent consideration - unrealized losses(12)(9)Total gains (losses) on contingent consideration$13 $(9)Total gains (losses) on natural gas, oil and NGL derivatives$(38)$1,728 

See Note 13 of the notes to our consolidated financial statements included in Item 8 of Part II of this report for a complete discussion of our derivative activity.

Marketing Revenues and Expenses

 Years Ended December 31,20242023Marketing revenues$1,290 $2,500 Marketing expenses1,310 2,499 Marketing margin$(20)$1 

Marketing revenues and expenses decreased in 2024 compared to 2023 as a result of decreased oil marketing activities, primarily as a result of the Eagle Ford divestitures in 2023.

Exploration Expenses