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Guidance history, every release

Expand Energy (EXE) · 8 releases, Oct 29, 2024 to Jul 28, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Oct 29, 2024 FY24 Q3	Feb 26, 2025 FY24 Q4	Apr 29, 2025 FY25 Q1	Jul 29, 2025 FY25 Q2	Oct 28, 2025 FY25 Q3	Feb 17, 2026 FY25 Q4	Apr 28, 2026 FY26 Q1	Jul 28, 2026 FY26 Q2
For FY2031
LNG purchase volume	—	—	—	—	—	—	New“approximately 1.15 million tonnes of LNG per annum”	—
For FY2027
Annual synergies	New“the full $500 million”	—	—	—	—	—	—	—
Annual synergy target (full run-rate)	New“approximately $500 million”	—	—	—	—	—	—	—
For FY2026
Additional productive capacity created	—	New“~300 MMcfe/d”	—	—	—	—	—	—
Annual synergies	—	—	New“the full $500 million”	Raised“$600 million”	—	—	—	—
Annual synergies target	—	—	—	—	New“$600 million”	—	—	—
Annual synergy outlook	—	—	—	New“$600 million”	—	—	—	—
Average daily production	—	—	—	—	—	—	—	New“approximately 7.4 – 7.6 Bcfe/d”
Average daily production	—	New“approximately 7.5 Bcfe/d”	—	—	—	—	—	—
Average production	—	—	New“approximately 7.5 Bcfe/d”	Reiterated“approximately 7.5 Bcfe/d”	—	—	—	—
Capital	—	—	—	—	—	New“approximately $2.85 billion”	—	—
Capital expenditures	—	—	—	—	—	New“~$2.85 billion”	—	—
Capital investment	—	—	—	—	—	—	—	New“approximately $2.75 – $2.95 billion”
Capital investment	—	—	—	—	—	—	New“approximately $2.85 billion”	—
Debt reduction	—	—	—	—	—	New“at least $1 billion”	—	—
Estimated daily production	—	—	—	—	—	New“approximately 7.5 Bcfe/d”	Reiterated“approximately 7.5 Bcfe/d”	—
Expected FID for Lake Charles Methanol SPA	—	—	—	—	New“2026”	—	—	—
Free cash flow growth vs. original expectations	—	—	—	New“approximately 20% more”	—	—	—	—
Net production	—	—	—	—	—	—	—	New“7.4 – 7.6 Bcfe/d”
Production	—	—	—	—	—	—	New“~7.5 Bcfe/d”	—
Production growth potential	—	—	—	—	New“approximately 7.5 Bcfe/d”	—	—	—
Production outlook	—	—	—	—	—	New“~7.5 Bcfe/d”	—	—
Quarterly base dividend	—	—	—	—	—	New“$0.575 per share”	Reiterated“$0.575 per share”	Reiterated“$0.575 per share”
Quarterly base dividend	—	—	—	New“$137 million”	—	—	—	—
Rig count	—	—	—	—	—	New“between 11 and 12 rigs”	—	Reiterated“11 – 12 rigs”
Rig count	—	—	—	—	—	—	New“11 to 12 rigs”	—
Share repurchases	—	—	—	New“$100 million”	—	—	—	—
Shareholder returns	—	—	—	New“$448 million”	—	—	—	—
Total annual synergies	—	New“$500 million”	—	—	—	—	—	—
Total annual synergy target	—	New“$500 million”	Reiterated“$500 million”	—	—	—	—	—
Variable dividend	—	—	—	New“$211 million”	—	—	—	—
Western Haynesville appraisal spend	—	—	—	—	—	New“~$75 million”	—	—
For FY2025
Annual synergies	New“approximately $225 million”	—	—	Raised“approximately $500 million”	Reiterated“approximately $500 million”	—	—	—
Annual synergy target	—	—	New“approximately $400 million”	—	—	—	—	—
Annual synergy target	New“approximately $225 million”	—	—	—	—	—	—	—
Base dividend payable per common share	—	—	—	New“$ 0.575”	—	—	—	—
Capital expenditures	—	—	—	—	New“$2.85 billion”	—	—	—
Capital expenditures	—	New“approximately $2.7 billion”	Reiterated“approximately $2.7 billion”	Lowered“approximately $2.6 billion”	—	—	—	—
Capital expenditures	New“approximately $2.7 billion”	—	—	—	—	—	—	—
Capital investment	—	—	—	—	New“$2.85 billion”	—	—	—
Capital investment	—	—	—	New“approximately $2.6 billion”	—	—	—	—
Capital investment	—	New“approximately $2.7 billion”	—	—	—	—	—	—
Estimated daily production	—	—	New“approximately 7.1 Bcfe/d”	Reiterated“approximately 7.1 Bcfe/d”	—	—	—	—
Estimated daily production	New“approximately 7 bcfe per day”	Raised“approximately 7.1 Bcfe/d”	—	—	—	—	—	—
Exit rig count	—	—	New“approximately 15 rigs”	—	—	—	—	—
Free cash flow growth vs. original expectations	—	—	—	New“approximately 30% more”	—	—	—	—
Incremental capital investment	—	—	—	New“$275 million”	—	—	—	—
Incremental capital to build productive capacity	—	—	—	—	New“approximately $250 million”	—	—	—
Incremental free cash flow	—	—	—	New“~$425 million”	—	—	—	—
Incremental productive capacity capital	—	—	New“an additional $300 million”	Lowered“an additional $275 million”	—	—	—	—
Net debt paydown	—	—	—	New“$1.0 billion”	Lowered“$500 million”	—	—	—
Net Debt reduction	—	—	New“$500 million”	—	—	—	—	—
Net debt reduction allocation	—	New“$500 million”	—	—	—	—	—	—
Net production	—	—	—	—	New“7.15 Bcfe/d”	—	—	—
Quarterly base dividend	—	New“$0.575 per share”	Reiterated“$0.575 per share”	—	Reiterated“$0.575 per share”	—	—	—
Rig count	—	—	New“approximately 12 rigs”	Lowered“approximately 11 rigs”	—	—	—	—
Rig count	New“10 to 12 rigs”	—	—	—	—	—	—	—
Rig count exiting 2025	—	—	—	—	New“approximately 12 rigs”	—	—	—
Rig count reduction	New“drop two rigs”	—	—	—	—	—	—	—
Rig count, second half of 2025	—	New“~15 rigs”	—	—	—	—	—	—
Rigs to be dropped	New“two”	—	—	—	—	—	—	—
Synergy capture	—	New“~$400 million”	—	—	—	—	—	—
Total capital expenditures	—	—	—	New“~$2.9 billion”	—	—	—	—
Total dividend payable per common share	—	—	—	New“$ 1.465”	—	—	—	—
Variable dividend payable per common share	—	—	—	New“$ 0.89”	—	—	—	—
Year-end 2025 exit rate production	—	New“approximately 7.2 Bcfe/d”	Reiterated“approximately 7.2 Bcfe/d”	Reiterated“approximately 7.2 Bcfe/d”	—	—	—	—
For FY2024
Annual net debt reduction target	New“$500 million”	—	—	—	—	—	—	—
Incremental capital for productive capacity build	—	New“$300 million”	—	—	—	—	—	—
Quarterly base dividend	New“$0.575 per share”	—	—	—	—	—	—	—
Rig count	—	New“~15 rigs”	—	—	—	—	—	—
No period stated
Additional share repurchase authorization	—	—	—	—	—	—	—	New“~$1 billion”
Base dividend	New“$2.30 per share”	—	—	—	—	—	—	—
Base dividend under enhanced capital return framework	New“$2.30 per share”	—	—	—	—	—	—	—
Buyback authorization	—	—	—	—	—	—	—	New“additional ~$1 billion”
Capital carry	—	—	—	—	New“approximately $29 million”	—	—	—
Free cash flow distribution target	New“75%”	—	—	—	—	—	—	—
Incremental capital investment	—	—	New“an additional $300 million”	—	—	—	—	—
Remaining free cash flow distributed between share repurchases and dividends	New“75%”	—	—	—	—	—	—	—
Share repurchase authorization	New“$1 billion”	—	—	—	—	—	—	—
Western Haynesville capital carry	—	—	—	—	New“approximately $29 million”	—	—	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.