Wachtell Reps Chesapeake In $315M Bronco Buy

Law360, New York (April 15, 2011, 2:26 PM EDT) -- Natural gas producer Chesapeake Energy Corp. said Friday it planned to pick up land drilling contractor Bronco Drilling Co. Inc. in a $315 million deal that will further its drive to own more of its drilling rigs.

Chesapeake, which is currently Bronco's second-largest customer, said the transaction will add 22 rigs to its stable and allow it to amp up its liquids-focused drilling programs. The buyer is aiming to eventually own about two-thirds of the rigs it uses as part of its larger vertical integration strategy....
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