If the Wall Street Journal is correct, Chesapeake Energy Corp. and Southwestern Energy Co. could formally announce this week their merger that had been negotiated for the past several weeks, one that would create a nearly $17 billion company.
It would also result in the formation of one of the largest natural gas producers in the U.S. As a result, Chesapeaker would be larger than its closest rival EQT Corporation and would have expanded holdings in the Marcellus basin in Appalachia and the Haynesville basin in Lousiana and east Texas.
The Wall Street Journal reported such a merger would put Chesapeake Energy, based in Oklahoma City, in a strong position to capitlize on global demand.
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