Chesapeake to acquire Southwestern Energy in $7.4B all-stock merger

EXPAND ENERGY Corp

All-stock deal valued at $7.4B; SWN holders get 0.0867 CHK shares per share.
Annual operational and overhead synergies of ~$400M expected.
Pro forma net production ~7.9 Bcfe/d with >5,000 gross locations; 15 years inventory.
Combined firm targets Q2 2024 close; CHK holders will own ~60%, SWN ~40%.
CEO Nick Dell'Osso to lead; board expands to 11 (7 CHK, 4 SWN); HQ in Oklahoma City.

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