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Brian Belski, chief investment strategist at BMO Capital Markets, joins 'Halftime Report' to break down his latest trades.
OKLAHOMA CITY , Feb. 6, 2024 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ: CHK) today announced that it will release its 2023 fourth quarter and full year operational and financial results after market close on Tuesday, February 20, 2024. A conference call to discuss the results has been scheduled on Wednesday, February 21, 2024 at 9:00 am EST.
Turmoil in the Middle East, particularly in the Red Sea and Suez, sent crude prices on a wild ride.
Chesapeake Energy Corp. (CHK) is set to become the largest natural gas producer in the U.S. after announcing it is buying rival Southwestern Energy Co. (SWN) for $7.4 billion in an all-stock deal.
Bonds issued by Chesapeake Energy Corp. and Southwestern Energy Co. were rallying on Thursday after the companies sealed their expected $7.4 billion all-stock merger.
Chesapeake Energy (NASDAQ: CHK ) stock is climbing higher on Thursday after the oil and natural gas exploration company announced a $7.4 billion deal with Southwestern Energy (NYSE: SWN ). That deal has Chesapeake Energy and Southwestern Energy combining in an all-stock transaction.
The past 15 years have been a long and winding road for Chesapeake Energy CHK , one that included an effort to shift from a pure natural gas play to a more oily portfolio, a chapter 11 bankruptcy filing, and a switch back to natural gas again as LNG exports emerged as the biggest growth driver in the U.S. industry. Now comes news that Chesapeake has agreed to purchase Southwestern Energy SWN to form a shale gas-focused giant in an all-stock deal valued at $11.5 billion.
Chesapeake Energy will merge with Southwestern Energy in an all-stock deal valued at $7.4 billion, both companies announced Thursday, the latest transaction in the energy industry that would make Chesapeake the largest natural gas producer in the U.S.
Shares of Southwestern Energy Co. SWN, -0.29% fell 3.5% in premarket trading Thursday, after the natural gas company announced a merger with oil and gas company Chesapeake Energy Corp. CHK, -1.49%, as the $7.4 billion deal, which had been expected, valued Southwestern's stock at a discount. Under terms of the deal, Southwestern shareholders will receive 0.0867 Chesapeake shares for each Southwestern share they own.
Chesapeake Energy and Southwestern Energy have agreed to merge in an all stock-transaction valued at $7.4 billion that is aimed at creating a premier natural gas company.