Chesapeake To Acquire Eagle Ford Producer WildHorse For Nearly $4 Billion

Editor's note: This is a developing story. Check back for more details and analysis throughout the day on OilandGasInvestor.com. Chesapeake Energy Corp. (NYSE: CHK) on Oct. 30 announced a blockbuster deal for WildHorse Resource Development Corp. (NYSE: WRD) worth nearly $4 billion the Oklahoma City-based company expects will create an Eagle Ford oil producing powerhouse. As part of the deal, Chesapeake will acquire WildHorse, a Houston-based company with operations in the Eagle Ford Shale and Austin Chalk, in exchange for either 5.989 shares of Chesapeake common stock or a combination of 5.336 shares of Chesapeake common stock and $3 in cash. Chesapeake also agreed to assume WildHorse's net debt, as of June 30, of $930 million. The company expects to finance the cash portion of the WildHorse acquisition, which is expected to be between $275 million and $400 million, through its revolving credit facility.

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