Akin Gump Advises Tug Hill, Inc. and Its Affiliates in Chesapeake Energy Corporation’s $2 Billion Acquisition of Chief E&D Holdings
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(Houston) - Chesapeake Energy Corporation today announced that it has signed definitive agreements to acquire Chief E&D Holdings, LP and associated non-operated interests held by affiliates of Tug Hill, Inc. for $2 billion in cash and approximately 9.44 million common shares. A team of Akin Gump lawyers advised Tug Hill, Inc. and its affiliates in the transaction.
Under the terms of the Chief E&D Holdings and Tug Hill agreements, Chesapeake will acquire approximately 113,000 net Marcellus Shale acres. The cash portion of the transaction will be financed with cash on hand and the use of the company's revolving credit facility. The transaction, subject to customary closing conditions, including certain regulatory approvals, is expected to close by the end of the first quarter of 2022.
To learn more about this deal, please click here.
The Akin Gump team advising Tug Hill was led by corporate partners Wesley Williams and Cole Bredthauer, and included corporate counsel Eduardo Canales and Sarah Withers, and associate Dominic Riella, and tax partner Alison Chen.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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