Severe Thunderstorm Warning Parker County until 7:30pmCurrent Info | Radar | Traffic | Share Photos Weather App

Business

Natural Gas Wildcatter Spends $4.25 Billion On Shale

(Photo by David McNew/Getty Images)

(Photo by David McNew/Getty Images)

From Our CBS Music Web Sites

453641528 10 Natural Gas Wildcatter Spends $4.25 Billion On ShaleAdorbale Baby Animals To Put A Smile On Your Face

150725619 10 Natural Gas Wildcatter Spends $4.25 Billion On ShaleHot Models In Glasses

 alt=Musicians Then And Now II

452359780 10 Natural Gas Wildcatter Spends $4.25 Billion On ShaleMissing Summer?

87222728 Natural Gas Wildcatter Spends $4.25 Billion On Shale8 Reasons to Have A Good Love Life

sx Natural Gas Wildcatter Spends $4.25 Billion On Shale Victoria's Secret Fashion Show

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 This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending: