Southwestern Energy, an integrated oil and gas firm, agreed to merge with Chesapeake Energy, a petroleum and natural gas exploration and production company, in a $7.4bn deal. "This powerful combination redefines the natural gas producer, forming the first US-based independent that can truly compete on an international scale. The union creates a deep inventory of advantaged assets adjacent to high demand markets, allowing for the application of proven operational practices and the power of an Investment Grade quality balance sheet to drive significant synergies benefiting energy consumers and shareholders alike," Nick Dell'Osso, Chesapeake President and CEO.