Expand Energy Corp completes Twin Eagle merger to boost gas marketing

Expand Energy Corporation (EXE), one of the largest independent natural‑gas producers in the United States, has completed its merger with Twin Eagle. The deal adds roughly $200 million of EBITDA, $750 million of free cash flow, a 3 billion‑cubic‑feet‑per‑day pipeline and 44 billion cubic feet of storage capacity, giving EXE new tools to exploit regional gas price differentials.

The company plans to expand its marketing operations, pursue dynamic pricing and direct‑contracting opportunities, and maintain a low net‑leverage ratio of about 0.52× with no debt maturities until 2029. Analysts have rated EXE a Strong Buy with a price target of $161 per share, citing the strategic benefits of the merger and the broader bullish outlook for U.S. natural‑gas demand and LNG exports.