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Announced

Completed

Chesapeake Energy completed the acquisition of Blackstone-backed Vine Energy for $2.2bn.

Financials

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Transaction Value£1,589m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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energy company

natural gas

Domestic

Private Equity

Majority

Single Bidder

Friendly

Acquisition

United States

Public

Integrated Oil and Gas

Completed

Synopsis

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Chesapeake Energy, an independent exploration and production company, completed the acquisition of Blackstone-backed Vine Energy, an energy company focused on the development of natural gas properties in the over-pressured stacked Haynesville and Mid-Bossier shale plays in Northwest Louisiana, for $2.2bn. "This transaction strengthens Chesapeake's competitive position, meaningfully increasing our free cash flow outlook and deepening our inventory of premium gas locations, while preserving the strength of our balance sheet. By consolidating the Haynesville, Chesapeake has the scale and operating expertise to quickly become the dominant supplier of responsibly sourced gas to premium markets in the Gulf Coast and abroad," Mike Wichterich, Chesapeake Board Chairman and Interim CEO.

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