Chesapeake Energy, Southwestern Energy to close $7.4 billion natural gas merger in first week of October 2024

(WO) – Chesapeake Energy Corporation and Southwestern Energy Company announced the waiting period in connection with the companies’ pending combination under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) has expired. The companies expect the merger to close in the first week of October.

Upon closing, the combined company will be the largest natural gas producer in the U.S. and assume the name Expand Energy Corporation. It will commence public trading on the NASDAQ under the ticker symbol “EXE” at the open of trading the day after closing.

“The world is short energy,” said Nick Dell’Osso, Chesapeake’s President and Chief Executive Officer. “With a premium scaled position across leading natural gas basins in the United States, a peer-leading returns program and a resilient financial foundation, Expand Energy is uniquely positioned to compete on an international scale to expand America’s energy reach and deliver opportunity for the world’s energy customers.”