Chesapeake Energy Corp. has closed on its $7.4 billion takeover of Southwestern Energy Co., the companies announced Oct. 1.
The newly combined company, rebranded as Expand Energy, will commence public trading as “EXE” on the NASDAQ exchange on Oct. 2.
The combined company replaces EQT as the largest U.S. natural gas producer, with large footprints in the Appalachia and Haynesville shale basins.
The merger became public in January and went several rounds with the Federal Trade Commission before getting government approval. The companies announced last week that the deal’s close was imminent.
“As America’s largest natural gas producer and a top producer globally, Expand Energy is built to disrupt the industry’s traditional cost and market delivery model,” said Nick Dell’Osso, Expand Energy’s president and CEO. “We are poised to capture the significant synergies provided by this powerful combination.”
The company will release its 2024 third-quarter operational and financial results after market close on Oct. 29.
Recommended Reading
Significant ROI for Energy Lobbyists Willing to Invest in Capitol Expenditures
2024-11-01 - Influencing policy in Washington requires substantial investment in campaign donations and lobbying. But the ROI is substantial, as well.
Enbridge Among Growing List of Earnings Boosted by Acquisitions
2024-11-01 - Enbridge’s utilities acquisitions and gas transport growth helped to drive earnings in the third quarter.
EIV Capital: Opportunities Abound for Investors in Midstream Sector
2024-11-01 - Here are the metrics that midstream financiers look for in a mature industry.
Kimmeridge, Commonwealth LNG Seeking MiQ Certification
2024-11-01 - The guidance provided by MiQ will support Kimmeridge’s initiative to deliver “wellhead-to-water” gas that is net-zero on Scope 1 and 2 greenhouse-gas emissions.
Energy Transition in Motion (Week of Nov. 1, 2024)
2024-11-01 - Here is a look at some of this week’s renewable energy news, including progress on the largest U.S. offshore wind project being developed.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.