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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (5064)10/31/2018 8:24:39 AM
From: richardred  Respond to of 6147
Someone else agrees with me on Wildhorse.

.Possible Bidders For WildHorse If Chesapeake's Offer Doesn't Stick

Claire Poole Senior Contributor
Markets I write about energy deals and investing.

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Another is a big, prominent Eagle Ford operator like EOG Resources, which could benefit from consolidation in the basin, Freeman said. He notes that neither company has commented on the possibility of a competing bid.

The analyst values the Chesapeake-WildHorse deal at $7,000 per undeveloped acre, or $900,000 per net undeveloped location. That's roughly in line with recent M&A in the area among exploration and production companies, including Denbury's purchase of Penn Virginia at his estimate of $8,300 per acre.

However, Chesapeake is offering $22.85 per share for WildHorse, versus Freeman's previous valuation of $34 per share and Seaport Global Securities' valuation of $32 per share. "Overall, we think Chesapeake got a heck of a deal, probably too good of a deal from a WildHorse shareholder perspective," SGS analyst Mike Kelly said. It will be interesting to see if a richer bid comes in.

Claire Poole is a business writer based in Houston who focuses on energy deals and investing.

To: richardred who wrote (5064)11/1/2018 9:05:03 AM
From: richardred1 Recommendation

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  Read Replies (1) | Respond to of 6147
Another oily deal

Encana to buy Newfield Exploration in $5.5B all-stock deal