EXPAND ENERGY Corp — Form 8-K

Expand Energy Corporation agreed to acquire Twin Eagle Holdings, a private natural gas marketing company, from Five Point Infrastructure for $1.25 billion in an all-cash/credit facility transaction expected to close Q3 2026. Twin Eagle markets 5 Bcf/d of natural gas, serves 1,000+ customers across U.S. and Canada, and is projected to contribute >$200M annual EBITDA with $150M annual synergies by year-end 2028. The combined entity will market ~14 Bcf/d and reach ~90% of North American natural gas demand; Expand raised its marketing/commercial strategy free cash flow target to $750M/year (50% increase from prior guidance).