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SouthWestern Energy and Chesapeake Energy are close to a merger and a deal could come early next week, according to the story reported by Wall Street Journal. As of Friday, SouthWestern had a market cap of close to $7bn while Chesapeake’s market cap was slightly over $10bn. Thus, the merger would result in a $17bn company, ranked as one of the largest natural gas producer in US, surpassing EQT Corp. The merger would strengthen Chesapeake’s existing positions in the US Northeast and Louisiana regions and allow it to focus on exports of liquefied natural gas out of the US Gulf Coast region. By Friday’s close, shares of SouthWestern rose about 7% while Chesapeake’s shares rose by 3%.
SouthWestern Energy’s bonds traded stable with its 5.7% 2025 at 99.5 cents on the dollar, yielding 6.2%.
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