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Chesapeake Energy to buy WildHorse Resource Development for $4 billion

Published 30/10/2018, 11:24
© Reuters.  Chesapeake Energy to buy WildHorse Resource Development for $4 billion
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(Reuters) - Oil and gas producer Chesapeake Energy Corp (N:CHK) is buying smaller firm WildHorse Resource Development Corp (N:WRD) in a deal valued at nearly $4 billion (3.1 billion pounds), it said on Tuesday, as it looks to strengthen its operations in Southeast Texas.

Oklahama-based Chesapeake said each WildHorse shareholder will get either 5.989 shares of Chesapeake common stock, or a combination of 5.336 shares of Chesapeake stock and $3 in cash, for each share they hold.

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