Expand Energy to Acquire Twin Eagle Holdings for $1.25 Billion

Expand Energy Corp. is set to become a leading gas marketer after agreeing to buy Twin Eagle Holdings NA from private equity firm Five Point Infrastructure for $1.25 billion.

The acquisition will allow Expand to reach customers across key markets in the U.S. and Canada, expanding its marketing and trading business before closing in the third quarter.

Expand raised its annual marketing and commercial free cash flow target by 50% to $750 million as U.S. gas demand grows from LNG exports, data centers, and power.

The company will fund the deal with cash on hand and borrowings from its revolving credit facility, rather than simply selling gas at the wellhead and earning lower returns.