Expand Energy

Expand Energy Corporation is a natural gas exploration and production company headquartered in Oklahoma City.

[1] The company operates in the Appalachian Basin of the Marcellus Formation in Pennsylvania and West Virginia, as well as the Haynesville Shale in Northwestern Louisiana.

The company also controls 2,518,519 net undeveloped acres in New Brunswick, Canada, which are subject to an indefinite moratorium on hydraulic fracturing due to public opposition and cannot be developed.

[5] In 1997, the company wrote down the value of its assets by over $200 million, approximately equal to shareholder's equity at the time, due to low commodity prices and implemented a turnaround plan.

[22] In December 2014, the company sold a large portion of its oil and gas assets in the Marcellus Formation and Utica Shale to Southwestern Energy for net proceeds of $4.975 billion.

[28] In February 2019, the company acquired Texas oil producer WildHorse Resource Development for $4 billion in cash and stock.

[32][33][34][35] In April 2021, Doug Lawler resigned as CEO of the company and Mike Wichterich, Chair of the Board of Directors, was named interim-CEO.

[39][40] In May 2023, the company sold a portion of its oil and gas assets in the Eagle Ford shale for US$1.4 billion, to Ineos.

[14] McClendon was charged of orchestrating a conspiracy in which two oil and gas companies, not named in the indictment, colluded not to bid against each other for the purchase of land in northwestern Oklahoma.

[52] The DOJ said this was the first case resulting from a continuing federal antitrust investigation into price fixing, bid rigging, and other anti-competitive conduct in the petroleum industry.

[53] The next day, on March 2, 2016, McClendon died in a single-occupant single-vehicle crash when he drove his vehicle directly into a concrete bridge embankment in Oklahoma City.

[55] In January 2024, a class action lawsuit was filed accusing the company, along with seven other US oil and gas producers, of engaging in an anti-competitive business practice in the form of an illegal price fixing scheme to constrain production of shale oil, allegedly leading to drivers in the US paying more for gasoline than they would have in a competitive market.

[59] On April 19, 2011, due to a failed seal assembly in a wellhead, the company lost control of a natural gas well in Bradford County, Pennsylvania that was being fracture stimulated, causing a large spill of salt water and chemicals, such as 2-butoxyethanol and methanol, into the surrounding countryside.

[68] The Sierra Club also filed a lawsuit against the company and Devon Energy over damages suffered in a magnitude 5.8, 2016 Oklahoma earthquake near Pawnee, which was tied for the largest such shock in the eastern United States in 70 years.

The company received exclusive licenses from the Department of Energy and Resource Development to conduct an exploration program.

[78] In 2009, S&P Global Platts named the company as the Energy Producer of the Year and it received the Industry Leadership Award.

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