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1 year ago
6
Business & FinanceEnergy
18 January 2023, 9:21 pm. 1 minute
Reuters was first to report that oil and gas exploration and production company Chesapeake Energy Corp agreed to sell part of its operations in south Texas to private equity-owned WildFire Energy for $1.4 billion in cash. After Reuters revealed the news, Chesapeake formally announced the sale of the operations to WildFire. Oklahoma City-based Chesapeake has been trying to divest its entire South Texas operations to focus on natural gas-producing acreage in other parts of the United States. The deal it has clinched falls short of meeting the demands of activist investor Kimmeridge Energy Management, which is among the 15 largest Chesapeake shareholders, to exit South Texas entirely.
Article Tags
Topics of Interest: Business & FinanceEnergy
Type: Reuters Best
Sectors: Business & Finance
Regions: North America
Countries: US
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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