M&A Deal Summary

Chesapeake Energy Acquires Southwestern Energy

On January 11, 2024, Chesapeake Energy acquired oil/gas exploration company Southwestern Energy for 7.4B USD

Acquisition Highlights
  • This is Chesapeake Energy’s 11th transaction in the Oil/Gas Exploration sector.
  • This is Chesapeake Energy’s largest (disclosed) transaction.
  • This is Chesapeake Energy’s 12th transaction in the United States.
  • This is Chesapeake Energy’s 9th transaction in Texas.

M&A Deal Summary

Date 2024-01-11
Target Southwestern Energy
Sector Oil/Gas Exploration
Buyer(s) Chesapeake Energy
Deal Type Merger
Deal Value 7.4B USD
Advisor(s) Goldman Sachs
RBC Capital Markets
BofA Securities
Wells Fargo Securities (Financial)
Kirkland & Ellis (Legal)

Target

Southwestern Energy

Spring, Texas, United States
website
Entrance to Southwestern Energy's corporate headquarters in Houston, Texas.
Entrance to Southwestern Energy's corporate headquarters in Houston, Texas.
Southwestern Energy is a national energy company. Southwestern Energy primarily engages in natural gas and crude oil exploration, development and production. Southwestern Energy was founded in 1929 and is based in Spring, Texas.

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Buyer(S) 1

Buyer

Chesapeake Energy

Oklahoma City, Oklahoma, United States

website


Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,200
Revenue 11.4B USD (2022)
DESCRIPTION

Chesapeake Energy is a producer of natural gas and the 12th major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City, Oklahoma.


DEAL STATS #
Overall 12 of 12
Sector (Oil/Gas Exploration) 11 of 11
Type (Merger) 1 of 1
State (Texas) 9 of 9
Country (United States) 12 of 12
Year (2024) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Vine Energy

Plano, Texas, United States

Vine Energy is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. Vine Energy was founded in 2014 and is based in Plano, Texas.

Buy $2.2B