Southwestern Energy

Houston-based Southwestern Energy will buy Marcellus and Utica assets from Chesapeake Energy for approximately USD 5.38 billion. The 413,000 net acres are almost all in West Virginia, with some in southern Pennsylvania, and include approximately 1,500 wells, of which 435 are in the Marcellus and Utica formations. The transaction is the largest ever for Southwestern and is Chesapeake’s biggest divestment. Net production is approximately 336 Mcfe/D, with a composition of 55% gas, 36% natural gas liquids, and 9% oil.