UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATIONPartnership Interest Purchase Agreement • May 18th, 2022 • Chesapeake Energy Corp • Crude petroleum & natural gas
Pursuant to the Chief Agreement and the Radler / Tug Hill Agreements (together the “Marcellus Agreements”), Chesapeake agreed to acquire all of the outstanding ownership interests in certain entities which own high quality producing assets and a deep inventory of premium drilling locations in the prolific Marcellus Shale in Northeast Pennsylvania (the “Marcellus Properties”). On March 9, 2022, Chesapeake and the Sellers completed the Marcellus Acquisition and under the terms and conditions contained in the Marcellus Agreements the Sellers received approximately $2.0 billion in cash (subject to customary purchase price adjustments) and $764 million in Chesapeake's common stock based on Chesapeake's stock price as of March 9, 2022. The Marcellus Properties were acquired on a cash-free, debt-free basis, effective as of January 1, 2022.
