Expand Energy (EXE)
NASDAQEnergyOil & Gas E&pSnapshot 2026-07-07
$89.56+0.75%
Close 2026-07-07 · 1-day change
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Track EXE free→Warn: Management is running behind on a stated commitment.
Expand Energy plans to invest $2.85 billion for production growth. It aims to run 11 to 12 rigs in 2026. Free cash flow is expected above $218 million. Debt reduction of at least $1 billion supports the balance sheet.
Management changes may hurt execution. Revenue is expected to fall about 22%. Market worries show in recent downgrades and price cuts.
The price is about 24% below our fair value near $117. Analysts expect revenue to drop about 22%. Our fair value is below the Street median by 12%.
Breaks if: Capex falls below $2.0 billion in FY26
Expand Energy plans to invest $2.85 billion to achieve an estimated daily production of approximately 7.5 Bcfe/d.
Standing thesis, reviewed periodically — not a price target or advice.
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Breaks if: Debt reduction less than $500 million in next 12 months
Expand Energy aims to reduce its debt by at least $1 billion to prioritize its balance sheet.
Breaks if: FCF falls below $150 million in FY26
Breaks if: Rig count falls below 10 rigs in FY26
Expand Energy plans to operate between 11 and 12 rigs in 2026 to support its production goals.