Company: EXEEZ
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000895126-25-000053
Chunk: 49

Company: EXPAND ENERGY Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 value measurements associated with our derivatives.

Our natural gas, oil and NGL revenues during the Current Quarter, excluding any effect of our derivative instruments, were $2,015 million, $78 million and $207 million, respectively. Based on production, natural gas, oil and NGL revenue for the Current Quarter would have increased or decreased by approximately $202 million, $8 million and $21 million, respectively, for each 10% increase or decrease in prices. As of March 31, 2025, the fair value of our natural gas and NGL derivatives were net liabilities of $1,011 million and $16 million, respectively. As of March 31, 2025, the fair value of our oil derivatives was a net asset of $4 million. A 10% increase in forward natural gas prices would decrease the valuation of natural gas derivatives by approximately $753 million, while a 10% decrease would increase the valuation by approximately $734 million. A 10% fluctuation in forward oil prices would impact the valuation of oil derivatives by approximately $3 million. A 10% fluctuation in forward NGL prices would impact the valuation of NGL derivatives by $14 million. This fair value change assumes volatility based on prevailing market parameters at March 31, 2025. See Note 11 of the notes to our condensed consolidated financial statements included in Item 1 of Part I of this report for further information on our open derivative positions.

Interest Rate Risk

Our exposure to interest rate changes relates primarily to borrowings under our Credit Facility. Interest is payable on borrowings under the Credit Facility based on floating rates. See Note 4 of the notes to our condensed consolidated financial statements included in Item 1 of Part 1 of this report for additional information. As of March 31, 2025, we did not have any outstanding borrowings under our Credit Facility.

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ITEM 4.Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in reports we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to management, including our principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of management, including our Chief Executive Officer