Chesapeake sells Eagle Ford Brazos Valley region to WildFire Energy for $1.425 billion

EXPAND ENERGY Corp

Sale includes ~377,000 net acres, ~1,350 wells; avg net daily prod ~27,700 boe/d (85% liquid) in Q3 2022.
Consideration: $1.2B cash at close plus $225M in annual installments ($60M/yr for 3 yrs, $45M in yr 4).
Proceeds to repay revolving credit facility and fund share repurchase program; close expected Q1 2023.
CEO states exit from Eagle Ford continues; company focuses on Marcellus and Haynesville positions.

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