Chesapeake Energy (CHK.N) will buy Bronco Drilling Co Inc (BRNC.O) for about $315 million as part of its strategy to increase its ownership of the rigs it uses to drill its wells, the company said on Friday. Chesapeake will pay $11.00 per share for all of Bronco's outstanding stock, a 6 percent premium over Thursday's closing price. Bronco owns 22 high-quality drilling rigs primarily operating in the Williston and Anadarko basins, including three that are under contract with Chesapeake. Chesapeake has said it wants to own about two-thirds of the rigs it operates under its drilling program. It will integrate Bronco into its Nomac Drilling unit, which currently owns 95 drilling rigs.
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