Chesapeake Completes $2.2 Billion Acquisition of Haynesville Producer Vine Energy

Chesapeake had previously announced the acquisition of Vine Energy in August in what the Oklahoma City-based company called a “zero premium” transaction valued at approximately $2.2 billion.

Hart Energy Staff

Chesapeake Energy Corp. completed its acquisition of Vine Energy Inc. on Nov. 1, making Chesapeake the largest producer in the Haynesville Shale, according to the Oklahoma City-based company.

“We are pleased to integrate the outstanding Vine operations and assets into our portfolio, strengthening our position in the Haynesville Shale with over 900 additional drilling locations, immediately improving our free cash flow profile and accelerating a significant return of capital to our shareholders at a time of favorable natural gas prices,” commented Nick Dell’Osso, Chesapeake’s newly appointed president and CEO, in a company release.

Chesapeake had previously announced the acquisition of Vine in August in what the company called a “zero premium” transaction valued at approximately $2.2 billion. The deal was expected to increase Chesapeake’s Haynesville exposure to 348,000 net acres with pro forma second-quarter net production of 1.58 Bcf/d, according to a research note by Tudor, Pickering, Holt & Co.

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