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SW Energy snaps up Chesapeake Energy assets in Marcellus, Utica

🕐 1 min read

 

HOUSTON (AP) — Southwestern Energy Co. of Houston will spend about $5.38 billion to acquire drilling assets in West Virginia and southwest Pennsylvania now owned by Chesapeake Energy Corp.

The acquisition includes 256 operated and producing horizontal wells in the Marcellus and Utica shale regions, and an additional 179 non-operated or non-producing wells in the same areas.

Southwestern will also assume part of the transportation and processing capacity commitments from Chesapeake Energy.

Southwestern said Thursday that it considering the sale of some non-core assets to finance the deal.

The acquisition is subject to consent of the principal co-owner of the acreage, which also has a 30-day preferential right to purchase.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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