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    Chesapeake pursues $2.4bn acquisition of Chief: press

Summary

It would be the second acquisition for Chesapeake since emerging from bankruptcy protection.

by: Dale Lunan

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Chesapeake pursues $2.4bn acquisition of Chief: press

Chesapeake Energy, not quite a year removed from Chapter 11 bankruptcy protection, is near a deal to acquire Chief Oil & Gas for $2.4bn, Reuters reported January 19.

Citing “people familiar with the matter”, Reuters said the acquisition could be completed later this week, although its sources said negotiations could still fall apart.

If successful in acquiring privately-held Chief, it would be the second acquisition by Chesapeake since emerging from Chapter 11. In August 2021 it announced the purchase of Vine Energy, and closed the deal in November.