Expand Energy Agrees to Acquire Twin Eagle for $1.25 Billion
US-based natural gas producer Expand Energy has signed an agreement to acquire Twin Eagle from Five Point Infrastructure in a deal valued at $1.25 billion. The acquisition is expected to close by the third quarter of 2026, pending regulatory approvals and customary conditions. Financing will come from existing cash reserves and borrowings under its revolving credit facility. The combined entity is projected to have marketed natural gas volumes of approximately 14 billion cubic feet per day (bcf/d), supported by firm transportation capacity and significant storage capabilities. Expand Energy anticipates the acquisition will add over $200 million in annual EBITDA and generate cost synergies exceeding $150 million annually by 2028. Twin Eagle, a wholesale marketer with operations across logistics and analytics, serves more than 1,000 customers. Expand Energy’s interim CEO Michael Wichterich emphasized the strategic benefits of combining production scale with marketing capabilities to enhance margins and shareholder returns.