Natural Gas Wildcatter Spends $4.25 Billion On Shale
FORT WORTH, Texas (AP) – Natural gas wildcatter Aubrey McClendon’s American Energy Partners LP has invested $4.25 billion in lease holdings and drilling rights in four states.
The properties are the Permian Basin in West Texas, the Utica shale in Ohio and the Marcellus shale in Pennsylvania and West Virginia.
The Oklahoma City-based company said Monday a subsidiary is acquiring about 63,000 acres in the Permian Basin from Enduring Resources LLC for $2.5 billion. It’s the company’s first investment in the West Texas shale play.
McClendon was forced out as Chesapeake Energy Corp.’s CEO following a shareholder revolt led by billionaire investor Carl Icahn. Chesapeake reported a $940 million loss in 2012 after natural gas prices plummeted.
Michigan’s attorney general filed felony charges last week, saying Chesapeake under McClendon misled landowners. The company denies wrongdoing.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Amber Alert Canceled After 3 Children Found In Houston
- Mavs’ Carlisle Fined $25,000 For Criticizing Refs After Loss
- Town Prays For Texas Ice Cream Maker Linked To Listeria
- Texas GOP’s 2016 Presidential hopefuls Call For Strong US
- When It Comes To Your Fantasy Team, Always Be Looking For Someone Better
- PHOTOS: Your Pet Pictures