- Hart-Scott-Rodino Act waiting period has expired
- Company to be rebranded as Expand Energy and trade on NASDAQ under 'EXE' ticker symbol
Chesapeake Energy Corp and Southwestern Energy Company have announced the waiting period in connection with the companies' pending combination under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired. The companies expect the merger to close in the first week of October.
Upon closing, the combined company will be the largest natural gas producer in the U.S. and assume the name Expand Energy Corporation. It will commence public trading on the NASDAQ under the ticker symbol 'EXE' at the open of trading the day after closing.
'The world is short energy,' said Nick Dell'Osso, Chesapeake's President and Chief Executive Officer. 'With a premium scaled position across leading natural gas basins in the United States, a peer-leading returns program and a resilient financial foundation, Expand Energy is uniquely positioned to compete on an international scale to expand America's energy reach and deliver opportunity for the world's energy customers.'
About the Companies
Headquartered in Oklahoma City, Chesapeake Energy Corp is powered by dedicated and innovative employees who are focused on discovering and responsibly developing leading positions in top U.S. oil and gas plays. With a goal to achieve net zero GHG emissions (Scope 1 and 2) by 2035, Chesapeake is committed to safely answering the call for affordable, reliable, lower carbon energy.
Southwestern Energy Company is a leading U.S. producer and marketer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation's most prolific shale gas basins. SWN's returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength, and operational execution.
Source: Chesapeake Energy
