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EXCLUSIVE-Chesapeake Energy nears $2.4 bln deal to buy Chief Oil & Gas -sources [Reuters]

EQT Corporation (EQT) 
Last eqt corporation earnings: 2/27 06:30 am Check Earnings Report
Company Research Source: Reuters
A deal for Chief Oil & Gas, founded and controlled by Texan ‘wildcatter' Trevor Rees-Jones, could be announced as soon as this week, the sources said. In wildcat drilling, exploration wells are dug in areas not known to be natural resource fields. The acquisition by Chesapeake, a U.S. shale gas and oil producer that only emerged from bankruptcy just last year, underscores the recovery of parts of the energy industry as natural resource prices surge to multi-year highs. The sources, who spoke on condition of anonymity to discuss private information, cautioned that negotiations could still fall apart at the last moment. A Chief Oil & Gas spokesperson declined to comment. Chesapeake did not immediately respond to a request for comment. Reuters reported in October here that Chief Oil & Gas was up for sale, amid the surge in energy prices that has boosted corporate valuations in the industry. If completed, it would be the second acquisition which Chesapeake has made since Februa Show less Read more
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