(Source: Shutterstock, Expand Energy)
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
E&P Highlights: Nov. 4, 2024
2024-11-05 - Here’s a roundup of the latest E&P headlines, including a major development in Brazil coming online and a large contract in Saudi Arabia.
Exxon Plans Longest 20,000-Ft Wells on Pioneer’s Midland Asset
2024-11-04 - Exxon Mobil has already drilled some of the longest wells in the New Mexico Delaware Basin. Now, the Texas-based supermajor looks to go longer on Pioneer’s Midland Basin asset.
E&P Highlights: Oct. 28, 2024
2024-10-28 - Here’s a roundup of the latest E&P headlines, including a new field coming onstream and an oilfield service provider unveiling new technology.
As Rig Count Slips, Oil Production Keeps Growing
2024-10-22 - Despite the offshore rig market showing signs of demand slippage, oil production looks to be on the rise for the foreseeable future, Westwood analysts say.
Now, the Uinta: Drillers are Taking Utah’s Oily Stacked Pay Horizontal, at Last
2024-10-04 - Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
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.