Former Chesapeake CEO McClendon Stages Comeback

Aubrey McClendon is turning heads with his new venture, and he already has his eyes on new shale plays.

Feb 6, 2014 at 9:50AM

This article was written by Oilprice.com -- the leading provider of energy news in the world. Also check out this recent article.

Former Chesapeake Energy Corp. (NYSE:CHK) CEO Aubrey McClendon has reportedly raised as much as $500 million for his new venture, American Energy Partners LP, and is ramping up purchases with an eye on Ohio's Utica Shale.

McClendon, who was forced to step down as Chesapeake's CEO in January 2013, is staging what many analysts are calling a comeback with a new venture and new stakes in US onshore oil and natural gas deposits.

Bloomberg reported on 29 January that American Energy Partners LP had raised as much as $500 million through an affiliate to acquire US onshore stakes and non-operated working interests.

The exclusive private equity investor here is Houston-based Energy & Minerals Group, led by John T. Raymond, for the affiliate "American Energy – NonOp LLC.

So far, in total McClendon has bounced back from the Chesapeake debacle to raise some $1.7 billion from several private equity firms over the past year.

In December, McClendon announced plans to raise up to $2 billion through the sale of units in a blind pool investment, a speculative vehicle with no assets or profits—a formula which affords backers a chance to help fund potential oil and gas developments, according to Bloomberg.

The meantime, American Energy Partners has reportedly agreed to buy natural gas fields from Hess Corporation for $924 million. While the buyer for Hess' 74,000 acres in Ohio's Utica Shale remains undisclosed, media outlets are speculating that it is McClendon. 
McClendon's resignation from Chesapeake, which he founded, was a dramatic one, in terms of media coverage. While McClendon was credited with much of the company's growth and its status as the second biggest natural gas producer in the US, he became embroiled in a financial scandal that caused investors to seek his resignation.

America's energy boom is far from over
Record oil and natural gas production is revolutionizing the United States' energy position. Finding the right plays while historic amounts of capital expenditures are flooding the industry will pad your investment nest egg. For this reason, the Motley Fool is offering a comprehensive look at three energy companies set to soar during this transformation in the energy industry. To find out which three companies are spreading their wings, check out the special free report, "3 Stocks for the American Energy Bonanza." Don't miss out on this timely opportunity; click here to access your report -- it's absolutely free. 

 

Written by Joao Peixe  at Oilprice.com.

Money to your ears - A great FREE investing resource for you

The best way to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as “binge-worthy finance.”

Feb 1, 2016 at 5:03PM

Whether we're in the midst of earnings season or riding out the market's lulls, you want to know the best strategies for your money.

And you'll want to go beyond the hype of screaming TV personalities, fear-mongering ads, and "analysis" from people who might have your email address ... but no track record of success.

In short, you want a voice of reason you can count on.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich," rated The Motley Fool as the #1 place online to get smarter about investing.

And one of the easiest, most enjoyable, most valuable ways to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as "binge-worthy finance."

Whether you make it part of your daily commute or you save up and listen to a handful of episodes for your 50-mile bike rides or long soaks in a bubble bath (or both!), the podcasts make sense of your money.

And unlike so many who want to make the subjects of personal finance and investing complicated and scary, our podcasts are clear, insightful, and (yes, it's true) fun.

Our free suite of podcasts

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. The show is also heard weekly on dozens of radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable. Rule Breaker Investing and Answers are timeless, so it's worth going back to and listening from the very start; the other three are focused more on today's events, so listen to the most recent first.

All are available for free at www.fool.com/podcasts.

If you're looking for a friendly voice ... with great advice on how to make the most of your money ... from a business with a lengthy track record of success ... in clear, compelling language ... I encourage you to give a listen to our free podcasts.

Head to www.fool.com/podcasts, give them a spin, and you can subscribe there (at iTunes, Stitcher, or our other partners) if you want to receive them regularly.

It's money to your ears.

 


Compare Brokers