Merger • Oil/Gas Exploration

Chesapeake Energy Acquires Southwestern Energy

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

Acquisition Context

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.

Explore All 82 Merger Oil/Gas Exploration Deals - Search the Database Free

M&A Deal Summary
Date	January 11, 2024
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 Company

Southwestern Energy

Spring, Texas, United States

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 Overview 1

Buyer

Chesapeake Energy

Oklahoma City, Oklahoma, United States

Category	Company
Founded	1989
Sector	Oil/Gas Exploration
Employees	1,000
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 Context for Buyer	#
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

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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