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Bracewell Represents Chesapeake Energy in Repurchase of Utica Subsidiary Preferred Shares for $1.26 Billion

August 1, 2014

Bracewell & Giuliani LLP represented Chesapeake Energy in a $1.26 billion transaction to repurchase all of the outstanding preferred shares of its unrestricted subsidiary, Chesapeake Utica L.L.C., from third-party preferred shareholders.

The transaction involves more than one million preferred shares of Chesapeake Utica and will eliminate approximately $75 million in annual cash dividend payments to third-party preferred shareholders.

Bracewell attorneys involved in the transaction include:

Partners: G. Alan Rafte and Elizabeth L. McGinley

Associates: Christopher J. Miller and Vivian Y. Ouyang