US’ Chesapeake to acquire Vine Energy

USA

HOUSTON, August 12, 2021 – Chesapeake Energy Corporation has entered into an agreement to acquire Vine Energy for USD 2.2 billion, Chesapeake announced on Wednesday.

The zero-premium transaction will see Vine Energy retain 14% of its shares, with the rest acquire by the buyer.

Vine Energy is an operator of the Haynesville and Mid-Bossier shale formations in Northwest Louisiana. The plays sit on the North Louisiana Salt Basin.

Chesapeake, once the second-largest gas producer in the US, has worked on the Haynesville area since 2008.

This is the companies first major move since filing for Chapter 11 bankruptcy in February.

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