Chesapeake Energy Says Deal for Southwestern Energy to Close Early in 4Q
09.19.2024 By Tank Terminals - NEWS

September 19, 2024 [Reuters]- Chesapeake Energy’s $7 billion acquisition of rival natural gas producer Southwestern Energy is expected to close early in the fourth quarter, CEO Nick Dell’Osso said on Wednesday.

 

The deal was delayed earlier this year after the U.S. Federal Trade Commission requested additional information from the two. Chesapeake announced the all-stock purchase in January and originally had expected the acquisition to close by June 30.

Dell’Osso said on the sidelines of the Gastech energy conference that the U.S. natural gas market remains oversupplied.

“We are going to be pretty cautious with how we think about changing our supply picture until we see that (oversupply) is no longer the case,” he said.

Chesapeake is producing about 3 billion cubic feet per day of gas and when the Southwestern deal closes its output will rise to about 7 bcfd, he said.

 

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Qair to Install e-Methanol Plant at France's Le Havre Port
11.12.2024 - NEWS
November 12, 2024 [Renewables Now]- French independent renewable power producer Qair has won the ... Read More
COP29 - Indonesia to Host World's First Hybrid Green Ammonia Project
11.12.2024 - NEWS
November 12, 2024 [Antara News]- PT Pupuk Indonesia announced its Green Ammonia Initiative from A... Read More
Saudi Arabia Bets $10B on Green Hydrogen
11.12.2024 - NEWS
November 12, 2024 [Oil Price]- Saudi Arabia is reportedly preparing to unleash $10 billion in inv... Read More
Genzero and Trafigura Announce US$100M Expansion of the Brujula Verde Nature-Based Carbon Removals Project in Colombi
11.12.2024 - NEWS
November 12, 2024 [Storage Terminals Magazine]- Trafigura Group Pte Ltd, a leader in the global c... Read More