Chesapeake Energy Completes Acquisition of Chief, Tug Hill Affiliates

“The Chief transaction deepens our premium inventory, allowing us to allocate additional capital toward our world class Marcellus Shale position and accelerate returns for our shareholders,” Chesapeake CEO Nick Dell’Osso said.

Hart Energy Staff

Chesapeake Energy Corp. on March 9 completed its previously announced multibillion-dollar acquisition of Chief E&D Holdings, LP and associated nonoperated interests held by affiliates of Tug Hill Inc.

“The Chief transaction deepens our premium inventory, allowing us to allocate additional capital toward our world class Marcellus Shale position and accelerate returns for our shareholders,” Nick Dell’Osso, Chesapeake’s president and CEO, commented in a company release.

“With the integration of these assets into our existing portfolio,” Dell’Osso continued, “we look forward to generating greater free cash flow, growing our dividend programs, and improving our GHG emissions metrics as we continue to responsibly deliver reliable, affordable, lower carbon energy in 2022 and beyond.”

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