Pour a little fracking fluid out for a homie.
Late last week, Chesapeake Energy – the oil and gas giant synonymous with greed, excess, and Christmas lights during the early stages of the OKC renaissance – announced its rebranding and changing its name following a merger with something called “Southwestern Energy Company.”
Here are the details via News 9:
The Chesapeake Energy Corporation announced on Thursday that it will undergo a name change when it merges with Southwestern Energy Company in October.
The company said the waiting period for the companies' pending combination has ended, and the two companies expect the merger to close in the first week of October.
According to a press release, the combined company will be the largest natural gas producer in the U.S. and will assume the name Expand Energy Corporation.
Sure, the Chesapeake name comes with plenty of baggage—pollution, Aubrey McClendon, canceling Christmas, etc.— but tossing it away feels like a shortsighted move.
Despite all its warts, Chesapeake was still an established national brand. As companies like Papa John’s, BP, Ashley Madison, and many others have proven, it’s a lot easier and cheaper to rebuild a brand than start a new one from scratch.