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Chesapeake Energy acquires Vine Energy for $2.2 billion

The acquisition will increase Chesapeake's cumulative five-year free cash flow outlook by approximately $1.5 billion, as the company consolidates its position in the Haynesville and Mid-Bossier shale plays. Pending the successful closing of the transaction in the Q4 2021, Chesapeake's preliminary plan is to operate 10 to 12 rigs in 2022, with 8 to 9 rigs focused on its gas portfolio and 2 to 3 rigs concentrating on its oil assets.

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