Chesapeake Energy Corp shares dropped as much 3.4% after Reuters exclusively reported that the company is in talks to acquire privately owned natural gas producer Chief Oil & Gas for around $2.4 billion, including debt. The acquisition by Chesapeake, a U.S. shale gas and oil producer that only emerged from bankruptcy just last year, underscores the recovery of parts of the energy industry as natural resource prices surge to multi-year highs. 

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