The acquisition by Chesapeake, a U.S. shale gas and oil producer that emerged from bankruptcy just last year, underscores the recovery of parts of the energy industry as commodity prices surge.
Chesapeake Energy has announced significant transactions designed to strengthen its asset portfolio, deliver higher free cash flow, and increase its projected annual dividend payments. The Company signed definitive agreements to acquire Chief E&D Holdings and associated non-operated interests held by affiliates of Tug Hill, Inc.