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
ONEOK Offers $7B in Notes to Fund EnLink, Medallion Midstream Deals
2024-09-11 - ONEOK intends to use the proceeds to fund its previously announced acquisition of Global Infrastructure Partners’ interest in midstream companies EnLink and Medallion.
Talos Ups Buybacks, Pays Down Debt Post $1.29B QuarterNorth Deal
2024-07-22 - Talos Energy said it repaid $325 million in debt since closing its $1.29 billion cash-and-stock acquisition of E&P QuarterNorth in March.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
2024-07-23 - Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
The ABCs of ABS: Financing Technique Shows Flexibility and Promise
2024-07-29 - As the number of ABS deals has grown, so have investors’ confidence with the asset and the types of deals they are willing to underwrite.
Halliburton Sees NAM Activity Rebound in ‘25 After M&A Dust Settles
2024-07-19 - Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.
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.