Investing
Southwestern and Chesapeake Energy near $17-billion merger – WSJ
© Reuters. FILE PHOTO: Chesapeake Energy logo is seen on smartphone in front of displayed stock graph in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Southwestern Energy and Chesapeake Energy (NYSE:) are close to a merger that would create a roughly $17-billion company that would rank as one of the largest U.S. natural-gas producers, the Wall Street Journal reported on Friday.
The deal could come together as soon as next week, the report said, citing people familiar with the matter, provided the talks do not hit a last-minute snag.
Shares of Southwestern and Chesapeake climbed 6.6% and 3.2%, respectively, on the news.
Reuters reported in October that Chesapeake was exploring an acquisition of Southwestern.
A deal would help the combined company overtake EQT (ST:) as the largest natural gas-focused exploration and production firm in the U.S. by market value, at a time when shale companies seeking scale and efficiencies are fueling a rapid consolidation.
In 2021, Chesapeake emerged from a bankruptcy which epitomized the boom and bust of debt-laden exploration and production companies that expanded aggressively in the shale patch.
Since then, the company has been shedding oil-producing assets to focus on its competence in .
Read the full article here
-
Side Hustles7 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Make Money7 days ago
Here’s the Typical American’s Income at Every Age. How Do You Compare?
-
Investing7 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks
-
Investing7 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Side Hustles6 days ago
How to Develop Empowered Leaders Within Your Own Team
-
Passive Income5 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Side Hustles5 days ago
How Your Body Language Can Help Win a Disagreement
-
Side Hustles4 days ago
How to Be Unapologetically You and Why It Matters