Akin Gump Advises WildHorse Shareholder NGP Energy Capital Management in Acquisition by Chesapeake Energy
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(Houston) – Chesapeake Energy Corporation and WildHorse Resource Development Corporation today jointly announced that Chesapeake has entered into a definitive agreement to acquire WildHorse in a transaction valued at approximately $3.977 billion, based on yesterday’s closing price, including the value of WildHorse’s net debt of $930 million as of June 30. Akin Gump advised NGP Energy Capital Management, LLC, which manages investment funds that are collectively WildHorse’s largest shareholder, in the matter.
The transaction, which is subject to shareholder approvals from both companies and customary closing conditions and regulatory approvals, is expected to close in the first half of 2019.
Oil and gas partner John Goodgame led the Akin Gump team advising NGP. He was joined by tax partner Jocelyn Tau and oil and gas associates Cynthia Angell and Litian Chen.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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