Chesapeake to buy Chief E&D Holdings for about $2.6 bln

Jan 25 (Reuters) – Chesapeake Energy Corp (CHK.O) said on Tuesday it would buy natural gas producer Chief E&D Holdings LP and some non-operated stakes held by affiliates of Tug Hill Inc for about $2.6 billion in cash and stock.

The company also signed an agreement to sell its Powder River Basin assets in Wyoming to Continental Resources Inc (CLR.N) for about $450 million in cash.