A 3D printed oil barrels and oil pump jack are seen in front of displayed Chesapeake Energy logo in this illustration taken January 25, 2022.
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 17 (Reuters) - U.S. natural gas producer Chesapeake Energy Corp (CHK.O) has approached Southwestern Energy (SWN.N), a peer valued by the stock market at $12 billion including debt, about a potential acquisition, people familiar with the matter said.
Since then, Chesapeake has been shedding oil-producing assets to focus on its competence in natural gas.
U.S. natural gas prices have been sluggish in recent months, as oversupply and warmer weather erode producers' profitability.
Some analysts expect prices to go up in the next few months, as a pick-up in U.S. natural gas exports creates more domestic scarcity.
Persons:
Dado Ruvic, Chesapeake's, David French, Greg Roumeliotis, David Gregorio Our
Organizations:
Chesapeake Energy, REUTERS, Chesapeake Energy Corp, Southwestern Energy, EQT Corp, Southwestern, Chesapeake, Exxon Mobil Corp, Natural Resources, Thomson
Locations:
U.S, New York, Chesapeake, Southwestern, Louisiana, West Virginia, Pennsylvania