(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
Paisie: Oil Prices to Rise in Fourth Quarter
2024-10-11 - Weakness in crude markets is connected to struggling economies in the U.S., EU and China.
Baker Hughes Eases the Pain of Intervention from Artificial Lift
2024-10-11 - To lessen the “pain of intervention” during artificial lift, Baker Hughes’ Primera and InjectRT services take an innovative approach to address industry challenges.
Dividends Declared (Sept. 30 - Oct. 11, 2024)
2024-10-11 - Here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies from Sept. 30 to Oct. 11.
First-half 2024's US LNG Exports Rise 3%, DOE Says
2024-10-11 - U.S. LNG exports rose 3% in the first half of 2024 compared to the same six month period in 2023 and the top 10 countries importing U.S. LNG accounted for 67% of the North American country’s LNG exports in the first half of 2024, according to a recent report from the U.S. DOE.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
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.