Southwestern Energy buying Marcellus natural gas assets from Chesapeake

Southwestern Energy Co. plans to buy natural gas assets in Pennsylvania's Marcellus shale from Chesapeake Energy Corp. and its partners for $93 million.

The transaction involves 162,000 net acres is in Susquehanna, Wyoming, Tioga, and Sullivan counties. Current net production from the properties is about 2 MMCfd from 17 gross wells. Closing is expected by May 15, and after closing, Southwestern will have 337,000 net acres in the Marcellus.