Chesapeake to become top US natural gas producer with $7.4 billion deal for Southwestern
January 11, 2024
Chesapeake Energy (CHK.O), agreed to buy smaller rival Southwestern Energy (SWN.N), in an all-stock transaction valued at $7.4 billion, a deal that will make it the largest independent U.S. natural gas producer.
The deal disclosed on Thursday is a bet natural gas prices will stay off the multi-year lows they touched last year as demand from proposed new U.S. liquefied natural gas (LNG) export terminals jumps in 2025.
