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Southwestern Energy pays $5.4B for Marcellus, Utica shale assets

Oct 16, 2014 - The Deal Pipeline

Southwestern Energy Co. (SWN) said Thursday it agreed to pick up properties in the Marcellus and Utica shales from Chesapeake Energy Corp. (CHK) for $5.4 billion, adding a third key area for the Houston oil and gas explorer.

The properties cover 413,000 net acres in West Virginia and southwest Pennsylvania and 1,500 wells targeting natural gas, natural gas liquids and crude oil contained in the Upper Devonian, Marcellus and Utica.

The assets include 256 operated and producing Marcel...