Former WildHorse Resource Development Corp. executives have landed more than $1 billion in private equity financing to form a new company that would acquire underdeveloped oil and natural gas assets across the Lower 48.
Articles from Wildhorse
Chesapeake Energy Corp. said Tuesday it plans to acquire East Texas-focused WildHorse Resource Development Corp. to significantly expand its position in the Upper Eagle Ford Shale and Austin Chalk formations in a cash-and-stock deal valued at nearly $4 billion that management said would double oil production growth and further reduce debt.
WildHorse Resource Development Corp. has bolted on 31,000-plus net acres to its Upper Eagle Ford Shale and Austin Chalk holdings in East Texas, giving it more running room to expand operations.
WildHorse Resource Development Corp., which primarily operates in the East Texas portion of the Eagle Ford Shale, is building an oil and produced water gathering system for its operations that could be completed by mid-2019.