Report: Southwestern & Chesapeake Planning $17 Billion Merger

A Wall Street Journal article states that two large natural gas producers could merge as soon as next week.

Friday, January 5th 2024, 3:06 pm

By: News 9, Jordan Fremstad

Credit: Associated Press

According to an article by The Wall Street Journal, two natural gas producers could come together as soon as next week.

Southwestern Energy and Chesapeake Energy are close to a merger and would be nearly a $17 billion company ranking and one of the largest natural gas producers in the U.S.

The article states that both companies' stocks increased in October after Reuters reported that Chesapeake had approached Southwestern about a possible merger deal.

Combined, Chesapeake and Southwestern produced about 7.4 billion cubic feet of gas per day in the third quarter, according to The Wall Street Journal. The two producers combined would compete with the largest natural gas producer in the U.S., EQT.

https://www.wsj.com/business/energy-oil/southwestern-chesapeake-near-17-billion-merger-24d7372d?mod=Searchresults_pos1&page=1

Jordan Fremstad

Jordan Fremstad proudly joined the News 9 team in December 2022 as a multimedia journalist. Jordan is a three-time Emmy-nominated multimedia journalist who began his broadcast journalism career in La Crosse, Wisconsin. Jordan grew up in De Soto, Wisconsin. Jordan comes to Oklahoma City after four years with La Crosse’s CBS affiliate WKBT News 8 Now.