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2014-06-09 21:15:00

MCCLENDON BUYING $4.25 B SHALE

MCCLENDON BUYING $4.25 B SHALE

Aubrey McClendon's firm American Energy Partners LLP on Monday said it plans to buy shale oil and gas assets for $4.25 billion, the former Chesapeake Energy Corp CEO's biggest deal package yet in an aggressive bid to build a new company.

McClendon, who co-founded Chesapeake in 1989 and built it into the second largest U.S. producer of natural gas, was pushed out of the company in April last year after he clashed with the board over spending and a governance crisis.

Since then, his Oklahoma City, Oklahoma-based American Energy Partners has secured commitments for $10 billion in financing and its biggest equity…

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Tags: USA, OIL, GAS, SHALE
Chronicle:
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