Expand Energy Beefs Up Natural Gas Production in Haynesville

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

Despite weak natural gas prices, U.S.-based producer Expand Energy is optimistic about its near-term outlook as it picks up Twin Eagle in a major acquisition.

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Weak Prices? What Weak Prices?

Expand Energy Corporation produced more natural gas than any other U.S.-based company in the second quarter of 2026, even as lower natural gas prices forced the company to take a hit in its revenues and net earnings. Expand also announced it would acquire Twin Eagle Holdings, a North American energy marketer with a focus on natural gas. Industrial Info Resources is tracking about $1.14 billion worth of active and proposed projects from Expand.

Expand reported $851 million of capital expenditures for the second quarter of 2026, and maintained its outlook for between $2.75 billion and $2.95 billion for the full year. More than half of the second-quarter investment went toward the company's developments in the Haynesville Shale of eastern Texas and northern Louisiana, which also is expected to account for more than half of the investment for all of 2026.

Expand produced an average of 7.48 billion cubic feet per day (Bcf/d) of natural gas in the second quarter, 42.6% was produced in the Haynesville. The company maintained its outlook for between 7.4 and 7.6 Bcf/d of production for the full year, with about 3.16 Bcf/d set to come from Haynesville.

According to Industrial Info Resources data, more than $1.6 billion worth of active and proposed natural gas-production projects are centered in the Haynesville. Expand's developments include the Bayou San Miguel Field in Sabine Parish, Louisiana, where it currently is adding at least 17 wells, with as many as 16 expected next year; and the King Hill Field in Natchitoches Parish, where it is adding up to 10 wells, with as many as 10 expected in 2027.

Industrial Info Resources offers more information on these developments in its Global Market Intelligence (GMI) Oil & Gas Project Database, where readers can find details--including construction schedules, investment values and necessary equipment--in project reports for the Bayou San Miguel Field's 2026 and 2027 programs, and the King Hill Field's 2026 and 2027 programs.

Expand acquired roughly 33,000 acres of additional assets in Sabine and Natchitoches parishes during the second quarter.

"We've really put ourselves in a competitive advantage in the Haynesville," said Josh Viets, the executive vice president of Expand, in a quarterly earnings-related conference call. "As an example, our procurement of sand comes at roughly one-third of the cost of where our competitors are, and that's really one of the items that's unlocking this greater well performance. We can simply pump larger, more complex completions, and that's what's ultimately delivering the increased production."

Still, lower natural gas prices hovered over the industry during the second quarter. Expand reported net income of $522 million, compared with $1.16 billion in second-quarter 2025; revenues stood at about $2.96 billion, a 20% drop from the same period last year.

By the Numbers

• About $1.14 billion: Total value of active and proposed projects from Expand, as tracked by Industrial Info Resources
• 7.48 billion cubic feet per day: Total natural gas produced by Expand in the second quarter
• 33,000: Additional acres in the Haynesville Shale acquired by Expand during the second quarter

Welcoming a 'Twin' to the Family

Executives at Expand, which was formed through the merger of Chesapeake Energy and Southwestern Energy in 2024, championed Twin Eagle's "premier physical marketing platform," which they say will make Expand the top U.S. entity for the marketing and optimization of natural gas.

"We will soon be the undisputed largest independent natural gas producer and leading gas marketer, scaling our business from a regional player to a coast-to-coast heavyweight across the U.S. and Canada," said Mike Wichterich, the chief executive officer of Expand, in an earnings-related conference call. "Rather than relying on directional commodity price exposure, Twin Eagle's business is built around linking customers to physical supply by using transportation and storage assets to create value."

Industrial Info Resources is tracking activity at two Twin Eagle facilities: the Permian Rail Terminal in Big Spring, Texas, which is positioned in the Midland Basin and supports transloading, railcar storage and industrial logistics with service from Union Pacific; and the Powder River Basin Industrial Complex near Douglas, Wyoming, also called in Douglas Terminal, which is positioned in the Powder River Basin with service from BNSF.

Readers can learn more about these facilities from detailed profiles of the Permian and Powder River terminals.

Wichterich said Twin Eagle "already has long relationships with utility companies," which will help Expand obtain supply deals for data centers and other rapidly growing industries.

The Industrial Info Resources GMI Project and Plant databases offer a full list of detailed reports for projects mentioned in this article, and a full list of related plant profiles.

Industrial Info Resources also offers a full list of reports for active and proposed projects from Expand.

Key Takeaways

• Lower natural gas prices forced Expand to take a hit in its revenues and net earnings.
• The company announced it would acquire Twin Eagle, a North American energy marketer with a focus on natural gas.
• Expand aims to become the top U.S. entity for the marketing and optimization of natural gas.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).