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
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
Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,000
Revenue 7.8B USD (2023)
DESCRIPTION

Chesapeake Energy produces natural gas and is a 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.

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
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