Chesapeake Energy Corporation (Nasdaq: CHK) is spending billions on Dallas-based Chief Oil and Gas.
The Oklahoma City-based company inked a deal to acquire Chief and associated assets from affiliates of Fort Worth’s Tug Hill for $2 billion and approximately 9.44 million common shares. The deal is expected to close at the end of the first quarter.
The assets will expand Chesapeake’s holdings in the Marcellus Shale in Northeast Pennsylvania. The company said the deal was a part of a strategy…
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