- Rory Doyle for The Wall Street JournalSouthwestern Energy and Chesapeake Energy are close to a merger that would create a roughly $17 billion company ranking as one of the largest natural-gas producers in the U.S. Southwestern had a market capitalization of roughly $7.0 billion and Chesapeake’s was a little more than $10 billion as of Friday afternoon. Chesapeake produced about 3.4 billion cubic feet of gas per day in the third quarter, while Southwestern produced 4 billion. In October Exxon Mobil struck a $60 billion deal for Pioneer Natural Resources, followed by Chevron’s $53 billion deal for Hess. Write to Laura Cooper at laura.cooper@wsj.com , Lauren Thomas at lauren.thomas@wsj.com and Benoît Morenne at benoit.morenne@wsj.comMost Read from The Wall Street Journal

Source: Wall Street Journal January 06, 2024 01:28 UTC