Expand Energy Boosts Production Amid Weak Gas Prices

Despite weak natural gas prices, Expand Energy remains optimistic about its near-term outlook following a major acquisition and significant investments in the Haynesville Shale.

The company produced an average of 7.48 billion cubic feet per day (Bcf/d) of natural gas in the second quarter, with 42.6% coming from the Haynesville region. Expand maintained its outlook for between 7.4 and 7.6 Bcf/d of production for the full year, with about 3.16 Bcf/d set to come from Haynesville.

The company reported $851 million in capital expenditures for the second quarter, with more than half going towards developments in the Haynesville Shale. Expand is also expanding its presence in the region through the acquisition of Twin Eagle Holdings, a North American energy marketer with a focus on natural gas.