Here are the 10-K annual reports from Expand Energy Corporation (EXEEZ) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow EXEEZ and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EXEEZ filings page.
Expand Energy Corporation files its annual report detailing a transformed 2025 after its merger with Southwestern Energy. Expand positions itself as the largest independent U.S. natural gas producer, with total 2025 production of 2,622 Bcfe versus 1,375 Bcfe in 2024.
The company reports total proved reserves of 25,880 Bcfe at December 31, 2025, including 7,304 Bcfe of proved undeveloped reserves, with PV-10 of $19,374 million and a standardized measure of $17,126 million. It invested about $658 million to convert 1,585 Bcfe of PUDs and plans roughly $4.2 billion of future PUD development spending through 2030.
Management highlights balance sheet strengthening, including approximately $1.2 billion of debt reduction, an upsized $3.5 billion 2025 Credit Facility, S&P 500 index inclusion and about $865 million returned to shareholders. The report also outlines extensive regulatory, commodity-price, climate and methane-emissions risks that could materially affect future results.