Expand Energy Corporation reports developments for a large North American natural gas producer with operations centered in the Haynesville and Appalachian basins. Company news commonly covers quarterly operating results, natural gas production, drilling and completions activity, capital spending, debt management and shareholder-return actions.
Updates also address commercial links to LNG and power demand, technology partnerships such as electric hydraulic fracturing in Northeast Appalachia, headquarters and leadership changes, and outlooks for the company’s natural gas portfolio following the combination of Chesapeake and Southwestern.
Expand Energy (NASDAQ: EXE) reported third-quarter 2026 net income of $519 million, down from the same quarter a year earlier. Diluted earnings fell to $2.24 from $2.28, while total revenues and other rose to $3.286 billion from $2.966 billion. Operating cash flow declined to $1.177 billion from $1.201 billion.
Net production was 7.54 billion cubic feet equivalent per day, 92% natural gas. The company completed its Twin Eagle acquisition on September 16. Expand Energy expects approximately $3 billion in 2026 capital investment and average daily production of approximately 7.45–7.55 billion cubic feet equivalent. It expects fourth-quarter marketing EBITDA, an earnings measure before interest, taxes, depreciation and amortization, of $80 million, reflecting Twin Eagle's impact.
Year-to-date share repurchases totaled approximately $900 million. Quarter-end total debt was $4.6 billion, with a reported leverage ratio of 0.8x.
Expand Energy (NASDAQ: EXE) appointed Daniel E. Brown president and chief executive officer, effective October 26, 2026. Brown will also join the Board. Michael A. Wichterich, interim president and chief executive officer since February 2026, will return to his role as non-executive chairman.
Brown joins from Chord Energy (NASDAQ: CHRD), where he served as president, chief executive officer and a director. He previously spent nearly 20 years at Anadarko Petroleum. His appointment follows a Board-led search that evaluated internal and external candidates with assistance from a search firm.
Expand Energy (NASDAQ: EXE) will release its third-quarter 2026 operational and financial results after market close on October 27, 2026. A conference call to discuss the results is scheduled for October 28, 2026, at 9:00 a.m. EDT. A live webcast and a replay following the call will be available through the company’s website.
Expand Energy (NASDAQ: EXE) selected Thoughtworks to design and build an enterprise-wide artificial intelligence capability through a multi-phase engagement. The program covers AI strategy, opportunity prioritization, platform implementation and delivery of a production-ready solution. Expand Energy aims to move beyond isolated pilots and deploy a production solution by the end of 2026.
Thoughtworks will identify opportunities with business and technical teams, design and begin implementing data platforms and governance, and build and deploy a high-priority AI solution. It will also establish an operating model for ongoing AI delivery and help Expand Energy teams adopt and scale AI.
WhiteHawk Minerals (WHK) closed approximately $111.8 million of mineral and royalty acquisitions on September 25, 2026.
The total includes an approximately $105.0 million purchase of Marcellus, Utica and Haynesville Shale natural gas interests from San Jacinto Minerals II. WhiteHawk funded the acquisitions with proceeds from a $50.0 million issuance of newly created Series E preferred stock, closed September 23, and a $75.0 million private placement of Class A common stock, closed September 21. Its reserve-based revolving credit facility’s borrowing capacity increased to $175.0 million after a fall redetermination; the facility remains fully undrawn.
The acquired interests cover approximately 700,000 gross unit acres and 11,810 net royalty acres, normalized to one-eighth, at an average net revenue interest of 0.21%. They include more than 1,700 producing wells, 245 wells in process and permits, and 2,500 undeveloped locations.
Expand Energy Corporation (EXE) priced a $500 million offering of 5.650% senior notes due 2031 at 99.889% of face value on September 15, 2026.
The notes are expected to close on September 17, 2026, subject to customary closing conditions. Expand Energy intends to use the net proceeds for general corporate purposes. Citigroup Global Markets and J.P. Morgan Securities are joint book-running managers. The offering is being made under an effective Form S-3 shelf registration, only by means of a prospectus supplement and accompanying base prospectus filed with the SEC.
Empire Petroleum (NYSE American: EP) announced the successful 21,006-foot re-entry and subsurface evaluation of the Wakefield-Harrison GU B #1 well in the Fort Trinidad field, Madison County, Texas, described as a strategic milestone in its Western Haynesville gas development program.
The company drilled, underreamed, and cleaned out the legacy well to 21,006 feet measured depth (20,949 feet true vertical depth), acquired a full modern open-hole log suite, and recovered sidewall cores, with gas and liquid hydrocarbon shows recorded. This represents the deepest modern subsurface evaluation in the emerging Western Haynesville play completed with full open-hole logs and cores, reaching approximately 1,713 feet deeper than Comstock Resources’ McCullough GLR #3 and 2,398 feet deeper than Expand Energy’s Bobby Yancey #1.
According to Empire, the work was completed for about $4.4 million by re-entering an existing wellbore, compared with reported $30–$45 million costs for new ultra-deep wells by other operators. The well opens roughly 11,000 feet of previously untested section below historical Fort Trinidad development and underpins a phased development strategy targeting Intermediate Production Zones and Deep Productive Zones, supported by Empire’s owned midstream infrastructure and plans to deepen two additional wells.
WhiteHawk Minerals Corp. (NYSE: WHK) reported second quarter 2026 results and post-IPO growth, signing nine acquisitions of Marcellus, Utica and Haynesville mineral and royalty interests totaling $111.8 million since its June 10, 2026 IPO. These transactions, including about $105 million of assets expected from San Jacinto Minerals II, cover roughly 700,000 gross unit acres and more than 1,700 producing wells.
Second quarter 2026 net production averaged 70.0 MMcfe/d, up 57% year-over-year, with total revenue of $29.1 million and Adjusted EBITDA of $20.7 million. WhiteHawk recorded a net loss of $39.2 million, driven largely by a $21.7 million loss on extinguishment of debt and $15.8 million of non-recurring management and incentive fees linked to its IPO and internalization. Cash Available for Distribution was $17.4 million.
WhiteHawk initiated a quarterly cash dividend of $0.50 per share of Class A common stock ($2.00 annualized) and declared an initial prorated dividend of $0.11 per share, payable August 28, 2026. To fund the acquisitions, the company plans to issue $50.0 million of Series E Preferred Stock, carrying cash dividend rates of 10% to 14% and a minimum 1.05x return of invested capital, alongside cash on hand and borrowings under its undrawn $150 million revolving credit facility. As of June 30, 2026, WhiteHawk reported cash of $13.2 million and total debt of $68.7 million.
Expand Energy (NASDAQ: EXE) reported second quarter 2026 net income of $522 million ($2.19 per diluted share) and adjusted net income of $317 million ($1.33 per share). Net cash provided by operating activities was $1,096 million, and adjusted EBITDAX reached $1,183 million, according to Expand Energy.
Average net production was about 7.48 Bcfe/d (92% natural gas), and the company reaffirmed full‑year 2026 guidance of 7.4–7.6 Bcfe/d. Total debt was $3.7 billion at quarter‑end, down roughly $1.3 billion from year‑end, with reported net debt of $3.1 billion and a leverage ratio of about 0.5x. Expand Energy repurchased approximately $530 million of common stock in the quarter and about $850 million year‑to‑date, reducing shares outstanding by around 4%, and announced an additional ~$1 billion buyback authorization. The company also announced the planned acquisition of Twin Eagle Holdings, released its 2025 Sustainability Report, and confirmed a quarterly dividend of $0.575 per share payable on September 3, 2026.
Expand Energy (NASDAQ: EXE) signed a definitive agreement to acquire private natural gas marketer Twin Eagle Holdings from Five Point Infrastructure for $1.25 billion, funded with cash on hand and its revolving credit facility. Closing is targeted for the third quarter of 2026, subject to customary conditions and regulatory approvals.
The deal combines Expand’s large-scale natural gas production with Twin Eagle’s asset-backed marketing and optimization platform. According to Expand, the transaction is immediately EBITDA-accretive, initially expected to add over $200 million of projected annual EBITDA, with targeted $150 million per year of synergies by year-end 2028. The company now expects $750 million per year of incremental free cash flow from its marketing and commercial strategy, a 50% increase over its previous target.
On a pro forma basis, the combined company would market approximately 14 Bcf/d of natural gas, supported by about 9 Bcf/d of firm transportation and 49 Bcf of storage capacity, serving roughly 90% of the U.S. and Canadian natural gas market. Twin Eagle will become a wholly owned subsidiary, with key management, including CEO Jeremy Davis, remaining after closing.