UPDATED Chesapeake Sheds Eagle Ford Assets to WildFire for $1.425B

Chesapeake Energy Corp. announced Wednesday that it agreed to sell its Eagle Ford assets in the Brazos Valley region to WildFire Energy I, backed by Warburg Pincus and Kayne Anderson, for $1.425 billion.

The seller expects the transaction to close in the first quarter of 2023. Chesapeake will receive $1.2 billion upon closing, with the additional $225 million paid in yearly installments of $60 million over the next three years and $45 million in year four.