Natural gas producer Southwestern Energy Co. said Aug. 12 it has entered a deal to acquire Montage Resources Corp. in an all-stock transaction, growing its position in Appalachia’s Utica and Marcellus shale plays.

The implied value of the transaction is $213 million based on Southwestern Energy’s Aug. 11 per share closing trading price, the company said in a filing with the U.S. Securities and Exchange Commission.

The deal comes about a year and a half after Montage was formed by the combination of Eclipse Resources and Blue Ridge Mountain Resources.

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