Expand Energy Management
Management criteria checks 3/4
Expand Energy's CEO is Mike Wichterich, appointed in Feb 2026, has a tenure of less than a year. directly owns 0.028% of the company’s shares, worth $6.39M. The average tenure of the management team and the board of directors is 1.6 years and 5.3 years respectively.
Key information
Mike Wichterich
Chief executive officer
US$425.2k
Total compensation
| CEO salary percentage | n/a |
| CEO tenure | less than a year |
| CEO ownership | 0.03% |
| Management average tenure | 1.6yrs |
| Board average tenure | 5.3yrs |
Recent management updates
Recent updates
Narrative Update • May 01
EXE: Margin Expansion And Leadership Transition Will Support Future Upside
Analysts have nudged their price target for Expand Energy slightly lower to about $132.73 from around $132.89, citing updated assumptions that pair a softer revenue outlook with improved profit margin expectations and a modestly lower future P/E multiple. What's in the News Expand Energy announced leadership changes, with Chairman Michael Wichterich taking on the role of Interim CEO effective February 9, 2026, while former CEO Domenic J.Seeking Alpha • Apr 29
Expand Energy: Excellent Q1 2026 Free Cash Flow After Winter Storm Fern
Summary Expand generated approximately $1.7 billion in Q1 2026 adjusted free cash flow, helped by NYMEX natural gas averaging around $5. NYMEX gas strip is a bit over $3 during the rest of the year, but Expand is still projected to generate $1.47 billion FCF during that period. The strong Q1 free cash flow allowed Expand to redeem nearly $1.3 billion in debt and reduce its annual interest costs by over $80 million. EXE appears on track to meet its production and cost guidance. Read the full article on Seeking Alpha
New Narrative • Apr 22
Premium Market Uplift And LNG Demand Will Limit Future Upside For This Producer
Catalysts About Expand Energy Expand Energy is a natural gas producer with core positions in the Haynesville and Appalachian basins and an integrated marketing and commercial business. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 13
EXE: Electric Fracturing Rollout Will Support Future Upside Under Interim Leadership
Analysts now see a slightly higher fair value for Expand Energy, nudging their price target from about $132.14 to $132.89. This reflects updated assumptions around revenue contraction, profit margins and future P/E expectations.
New Narrative • Apr 08
Gulf Coast Gas Demand And Haynesville Efficiencies Will Support Stronger Long Term Margins
Catalysts About Expand Energy Expand Energy is a natural gas producer with large positions in the Haynesville and Appalachian basins, increasingly focused on capturing value along the full gas value chain. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 27
EXE: Electric Fracturing Expansion And Interim Leadership Will Support Future Upside
Analysts have nudged their price target for Expand Energy up to $132.14 from $130.71, tying this change to slightly softer expected revenue declines, a lower projected profit margin of 24.20% and an adjusted forward P/E of 16.13x. What's in the News Expanded completions program agreement with Evolution Well Services to use 100% electric hydraulic fracturing technology in Northeast Appalachia, with gas conditioning, power generation and electric frac operations designed to lower noise, reduce equipment footprint and streamline the worksite (Client Announcements).Narrative Update • Mar 12
EXE: Interim Leadership And Electric Fracturing Agreement Will Support Bullish Outlook
Analysts have nudged their price target on Expand Energy slightly higher to $130.71 from $130.32, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that remain broadly consistent with prior views. What's in the News Expand Energy and Evolution Well Services entered an agreement to use Evolution's 100% electric hydraulic fracturing fleet in Northeast Appalachia, aiming for a smaller on-site footprint, reduced noise, and a more controlled work environment supported by real time operational and environmental data (Client Announcements).Narrative Update • Feb 26
EXE: Interim Leadership And Cleaner Completions Program Will Support Bullish Outlook
Analysts have trimmed their price target on Expand Energy from $131.25 to about $130.32. They factored in updated assumptions around slightly weaker revenue growth, a modestly lower profit margin outlook and a small adjustment to future P/E expectations.Narrative Update • Feb 10
EXE: Interim Leadership Shift Will Support Continued Bullish Long Term Outlook
Analysts have nudged their price target for Expand Energy slightly higher to about $131.25, citing updated fair value estimates, a modest change in discount rate, slightly weaker revenue growth and profit margin assumptions, and a marginally higher future P/E multiple. What's in the News Expand Energy announced leadership changes effective February 9, 2026, with Chairman of the Board Michael Wichterich appointed Interim CEO, succeeding Domenic (Nick) J.Narrative Update • Jan 27
EXE: Slightly Lower Assumptions And P E Multiple Will Still Support Bullish Outlook
Narrative Update Analysts have trimmed their price target on Expand Energy to about $130.82 from roughly $132.04, citing slightly softer revenue growth assumptions, a small improvement in profit margin, and a marginally lower forward P/E multiple. Valuation Changes Fair Value Estimate: reduced slightly from $132.04 to $130.82 per share.Narrative Update • Jan 12
EXE: Higher 2025 Output Guidance And Completed Buybacks Will Support Bullish Outlook
Analysts have slightly reduced their price target on Expand Energy, citing updated fair value estimates of US$132.04 compared with the prior US$133.39, along with refreshed assumptions for revenue growth, profit margin and future P/E. What's in the News Expand Energy reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for US$0 million, completing the previously announced buyback with a total of 851,661 shares repurchased for US$99.99 million, representing 0.36% of shares (Key Developments).Narrative Update • Dec 27
EXE: Higher Future Output And Buybacks Will Support Bullish Outlook
Analysts have nudged their price target on Expand Energy slightly higher to approximately $133.39 per share from about $132.86, reflecting modestly improved valuation multiples despite slightly weaker forecasts for revenue growth and profit margins. What's in the News Completed repurchase of 851,661 shares, totaling approximately 0.36% of shares outstanding for $99.99 million under the buyback program announced on October 29, 2024 (Key Developments) Reported no share repurchases from July 1, 2025 to September 30, 2025 under the existing buyback tranche, signaling a pause in capital return via buybacks during the quarter (Key Developments) Updated full year 2025 production guidance to 7.15 Bcfe per day, about 50 MMcfe per day above the prior midpoint, indicating a modest increase in expected output (Key Developments) Valuation Changes The fair value estimate has risen slightly to about $133.39 per share from roughly $132.86, implying a modestly higher intrinsic valuation.Narrative Update • Dec 13
EXE: Higher Production Outlook Will Support Bullish Long Term Outlook
Narrative Update on Analyst Price Target Analysts have modestly raised their price target on Expand Energy from approximately $130.56 to about $132.86 per share. This reflects slightly improved revenue growth expectations, a marginally higher future P E multiple, and a nearly unchanged discount rate, with a stable profit margin outlook.Narrative Update • Nov 28
EXE: Higher Production Outlook and Share Buyback Are Expected To Sustain Fair Value
Analysts have slightly increased their price target for Expand Energy from $130.22 to $130.56. They cite small but notable adjustments to profit margin and forward P/E estimates as the primary drivers for the update.Narrative Update • Nov 14
EXE: Improved Margin Projections and Completed Buyback Will Offset Lower Revenue
Analysts have raised their price target for Expand Energy from $128.78 to $130.22. This change is based on improved profit margin projections, which are seen as outweighing lower revenue growth estimates and a slightly lower discount rate.Analysis Article • Oct 31
Expand Energy (NASDAQ:EXE) Will Pay A Dividend Of $0.575
Expand Energy Corporation ( NASDAQ:EXE ) will pay a dividend of $0.575 on the 4th of December. The dividend yield is...Narrative Update • Sep 24
Digital Advances And Regional Positioning Will Reshape The Energy Landscape
The consensus Analyst Price Target for Expand Energy has been revised downward, primarily reflecting a sharp decline in Net Profit Margin and a significant increase in Future P/E, with fair value reduced from $132.15 to $128.78. What's in the News CFO Mohit Singh departed the company due to termination without cause; Brittany Raiford appointed as Interim CFO.Narrative Update • Sep 04
Digital Advances And Regional Positioning Will Reshape The Energy Landscape
As both the Future P/E ratio and consensus revenue growth forecasts for Expand Energy remain steady, analysts see no significant changes in the company's fundamentals, leaving the fair value estimate unchanged at $132.15. What's in the News CFO Mohit Singh has departed the company; Brittany Raiford, previously Vice President - Treasurer, appointed Interim CFO during the search for a permanent replacement.Analysis Article • Jun 23
With Expand Energy Corporation (NASDAQ:EXE) It Looks Like You'll Get What You Pay For
When you see that almost half of the companies in the Oil and Gas industry in the United States have price-to-sales...Seeking Alpha • Apr 22
Expand Energy's 2025 Strategy Is Growth And Synergy
Summary Expand Energy Corporation is rated Strong Buy with a $214/share target, driven by strong domestic and international natural gas demand and significant cost improvements post-merger. The merger between Chesapeake and Southwestern Energy is enhancing drilling efficiency while reducing costs, projecting $400mm savings in eFY25 and $500mm in eFY26. EXE stock is increasing production across its Appalachian and Haynesville assets as gas prices are supported by an improved demand market. Read the full article on Seeking AlphaSeeking Alpha • Apr 13
Expand Energy: Fairly Priced For Data Center And LNG Growth
Summary Expand Energy stock is rated a HOLD due to its fair valuation at a mid-cycle natural gas price of $3.75-$4/MCF, yielding 10-12% FCF. Key growth drivers like LNG exports and AI data centers rely on cheap natural gas; prices above $5/MCF risk demand destruction and cyclical downturns. Investors should value natural gas producers at mid-cycle prices to avoid capital risk, as EXE's current valuation reflects this prudent approach. Declining Permian activity may result in a longer bull run for natural gas if tariff wars persist. Read the full article on Seeking AlphaSeeking Alpha • Mar 12
Expand Energy: The Quality Is Evident
Summary Expand Energy, formerly Chesapeake Energy, emerged from bankruptcy and merged with Southwestern Energy, focusing primarily on natural gas with significant assets across key U.S. shale regions. Management's detailed guidance for 2025 includes a significant production increase, $3 billion in capital expenditures, and substantial cost savings from synergies, enhancing profitability. The company plans to reduce net debt by $616 million in 2025 while maintaining a solid leverage ratio, and returning capital to shareholders. Despite market volatility, Expand Energy's hedging strategy and transparent management make it a solid investment, justifying a continued soft 'buy' rating. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
Expand Energy: Increased Shareholder Returns Expected In 2025
Summary Expand Energy will soon have under $50 million in outstanding notes due before 2030. The company is projected to generate $1.75 billion in 2025 free cash flow now. This combination will allow it to put a significant amount towards shareholder returns in 2025 in addition to its base dividend. It could pay out a couple of dollars per share in variable dividends and/or make share repurchases. At a bit over $100 per share, Expand seems more fairly priced for long-term (after 2025) $3.90 NYMEX natural gas, though. Read the full article on Seeking AlphaSeeking Alpha • Oct 30
Expand Energy Reports Legacy Chesapeake Energy Results
Summary Expand Energy's results reflect Chesapeake Energy alone. The company sold profitable Eagle Ford operations while merging to expand its presence in the high-cost Haynesville. Year-to-date adjusted net income is positive. But selling prices are miserable compared to others in the Marcellus Basin. Performance is worse than if Eagle Ford properties were kept, as the Eagle Ford acreage can be far more profitable than Haynesville acreage. EXE is a strong sell until some key strategies change. Read the full article on Seeking AlphaSeeking Alpha • Oct 09
Chesapeake And Southwestern Become Expand Energy
Summary Expand Energy, built from Chesapeake’s acquisition of Southwestern, is a $19.5 billion market cap company paying a 2.7% base dividend. Chesapeake acquired Southwestern for $7.4 billion, and the merger closed Oct. 1, 2024. Despite a rough year for natural gas, the company is well-positioned to supply natural gas to Midwest and mid-Atlantic utilities via its Marcellus production, and gas for LNG from Haynesville. Expand Energy also gets revenue uplift through its Marcellus and Utica natural gas liquids reserves. Read the full article on Seeking AlphaSeeking Alpha • Sep 19
Chesapeake Energy: Uncertainty Persists
Summary The sale of Eagle Ford assets has streamlined Chesapeake’s portfolio, but the firm has also suffered a significant drop in its revenue base. Chesapeake Energy is not profitable and relies on cuts to production expenses as well as cost synergies with Southwestern Energy to improve its profitability profile. The Company has considerable near-term earnings uncertainty and continues to trade near my fair value estimate. I don't see an especially attractive risk profile and maintain a hold rating on CHK. Read the full article on Seeking Alpha
New Narrative • Aug 25
Efficiency Gains And Critical Mergers To Propel Future Growth And Market Dominance
Operational improvements and strategic production flexibility are set to enhance capital efficiency, reduce expenses, and allow rapid market response.Seeking Alpha • Aug 22
The Sum Is Greater Than The Parts For Chesapeake And Southwestern Energy
Summary Chesapeake Energy and Southwestern Energy plan to merge, combining strong natural gas production assets in the Marcellus and Haynesville basins. Chesapeake emerged from bankruptcy with reduced debt and operating costs, while Southwestern has low costs but high debt. The merger is expected to create a company with strong financials and operational efficiency, positioning them well for low prices and increasing demand. Read the full article on Seeking AlphaSeeking Alpha • Jul 25
Chesapeake Energy Has Commodity Risk On Its Side
Summary Chesapeake Energy Corporation is navigating a bear market for natural gas, but the long-term outlook is promising, with additional LNG export capacity expected by CY25. Management has made strategic decisions to curtail production in the near-term, build DUC inventory, and wait for new demand to come online. Domestic demand for electricity is growing, driven by the growing AI factory industry. Gas may be used for base load capacity for these data centers and correct the supply/demand imbalance. Read the full article on Seeking AlphaSeeking Alpha • Jun 20
Chesapeake Energy: Shareholders Vote In Favor Of Merger (Rating Upgrade)
Summary Chesapeake and Southwestern's shareholders voted strongly in favor of the merger. The FTC still needs to approve the deal, with a 2H 2024 deal close now expected. The deal price itself seems fair for both companies. The main value is in the $400 million per year in estimated cost savings. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$3b |
| Dec 31 2025 | n/a | n/a | US$2b |
| Sep 30 2025 | n/a | n/a | US$867m |
| Jun 30 2025 | n/a | n/a | US$206m |
| Mar 31 2025 | n/a | n/a | -US$989m |
| Dec 31 2024 | US$425k | n/a | -US$714m |
| Sep 30 2024 | n/a | n/a | US$254m |
| Jun 30 2024 | n/a | n/a | US$438m |
| Mar 31 2024 | n/a | n/a | US$1b |
| Dec 31 2023 | US$440k | n/a | US$2b |
| Sep 30 2023 | n/a | n/a | US$5b |
| Jun 30 2023 | n/a | n/a | US$6b |
| Mar 31 2023 | n/a | n/a | US$7b |
| Dec 31 2022 | US$3m | US$650k | US$5b |
| Sep 30 2022 | n/a | n/a | US$3b |
| Jun 30 2022 | n/a | n/a | US$2b |
| Mar 31 2022 | n/a | n/a | -US$114m |
| Dec 31 2021 | US$2m | US$761k | US$6b |
Compensation vs Market: Mike's total compensation ($USD425.20K) is below average for companies of similar size in the US market ($USD14.74M).
Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.
CEO
Mike Wichterich (57 yo)
less than a year
Tenure
US$425,204
Compensation
Mr. Michael A. Wichterich, also known as Mike, serves as Chairman of the Board at Expand Energy Corporation (formerly known as Chesapeake Energy Corporation) since February 2021 and serves as its Interim P...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | less than a year | US$425.20k | 0.028% $ 6.4m | |
| Executive VP & COO | 4.3yrs | US$4.61m | 0.032% $ 7.4m | |
| Executive VP | 1.6yrs | US$2.44m | 0.025% $ 5.7m | |
| Executive VP & CFO | less than a year | no data | 0.00084% $ 192.8k | |
| VP of Accounting & Controller | 1.6yrs | no data | 0.0061% $ 1.4m | |
| VP & Chief Information Officer | 4.3yrs | no data | no data | |
| Vice President of IR & Treasurer | 1.6yrs | no data | 0.0077% $ 1.8m | |
| VP of Corporate Development and Strategy | less than a year | no data | no data | |
| Executive Vice President of Marketing & Commercial | 1.3yrs | no data | 0.0077% $ 1.8m | |
| Vice President of Human Resources & Employee Services | 1.6yrs | no data | no data | |
| Investor Relations Manager | no data | no data | no data |
1.6yrs
Average Tenure
47yo
Average Age
Experienced Management: EXE's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | 5.3yrs | US$425.20k | 0.028% $ 6.4m | |
| Independent Director | 1.6yrs | US$22.50k | 0.0073% $ 1.7m | |
| Independent Director | 5.3yrs | US$307.29k | 0.0065% $ 1.5m | |
| Independent Director | 1.6yrs | US$22.50k | 0.014% $ 3.3m | |
| Independent Director | 5.3yrs | US$296.98k | 0.0070% $ 1.6m | |
| Independent Director | 5.3yrs | US$297.29k | 0.0065% $ 1.5m | |
| Independent Director | 1.6yrs | US$26.25k | 0.0032% $ 739.0k | |
| Independent Director | 5.3yrs | US$436.92k | 0.0073% $ 1.7m | |
| Independent Director | 1.6yrs | US$27.50k | 0.0029% $ 672.5k | |
| Lead Independent Director | 5.3yrs | US$285.25k | 0.0075% $ 1.7m |
5.3yrs
Average Tenure
60yo
Average Age
Experienced Board: EXE's board of directors are considered experienced (5.3 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/10 01:46 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Expand Energy Corporation is covered by 50 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| Michael Hall | Baird |
| Jeffrey Robertson | Barclays |