Chesapeake in WildHorse acquisition

USA

HOUSTON, October 31, 2018 – Chesapeake Energy has struck a deal to acquire WildHorse Resource Development for USD 3.98 billion, the companies announced on Tuesday.

The deal, which adds significant Eagle Ford and Austin Chalk acreage to Chesapeake’s portfolio, is expected to double the company’s oil output by 2020, the statement added.

“This transaction accelerates Chesapeake’s strategic plan and expands the value-creation opportunities for our shareholders by adding a premier asset at an attractive valuation, significantly boosting oil production, EBITDA margins and cash flow growth, while improving our leverage metrics,” said Doug Lawler, president and CEO of Chesapeake.

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