One-Page Deal Sheet
Chesapeake Acquires Marcellus-Focused Chief E&D Holdings for $2.6B
Chesapeake Energy Corp Chief E&D Holdings, Tug Hill Operating
Announced Date
January 25,2022
Effective Date
January 01,2022
Close Date
March 09,2022
Transaction Type
Corporate
Enterprise Value (EV)($MM)
2600
Asset/Basin:
["Marcellus Shale"]
TargetZones:
["Marcellus Shale"]
Net Acres
EbitDAX : Ebitdax_multple
Location
Calculated Metrics( EV/Category)
Region
Northeast - Appalachia
Country
United States
State
Pennsylvania
County
Wyoming ,Sullivan ,Susquehanna ,Bradford
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
Chesapeake Energy Corp. has agreed to acquire Chief E&D Holdings LP and associated non-operated interests held by affiliates of Tug Hill Inc., for $2.0 billion in cash and approximately 9.44 million common shares - a total value of $2.6 billion.
This deal closed on March 9, 2022.
Chief and Tug Hill hold high quality producing assets and an inventory of premium drilling locations(1) in the prolific Marcellus Shale in Northeast Pennsylvania.
The transaction is expected to close by the end of the first quarter of 2022.
Deal Details: Acreage: 113,000 net acres (94% HBP) Drilling Locations: 500…Northeast - Appalachia Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-02-2026 |
-  |
- |
Click here | Texas | E&P |
| Jan-08-2026 |
- |
- |
Click here | West Virginia | E&P |
| Dec-08-2025 |
- |
- |
Click here | West Virginia | E&P |
| Dec-08-2025 |
- |
- |
Click here | Ohio | E&P |
| May-30-2025 |
- |
- |
Click here | Ohio | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
- |
| Dec-08-2025 | Antero Resources Acquires HG Energy II for $3.9B | - |
- |
| Apr-22-2025 | EQT Acquires Olympus Energy Assets For $1.8 Billion | - |
- |