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Wednesday, October 2, 2013

Former Chesapeake CEO McClendon Announces Joint Venture With Dover Company

From The Canton Repository:
A joint venture involving Red Hill Development of Dover and American Energy-Utica to explore Utica Shale deposits in Guernsey and Harrison counties is expected to produce a significant boost to the economy of the Tuscarawas Valley region. 
The joint venture was announced Tuesday by Red Hill Development, which was founded in 1975 by the Kimble family of Dover. American Energy-Utica is an affiliate of American Energy Partners, which is a private company formed by former Chesapeake Energy CEO Aubrey McClendon. 
“This should be a big addition to the economy, with quite a bit of drilling activity, production, royalties paid to land owners, and jobs,” said Keith B. Kimble, manager of RHDK Oil & Gas, doing business as Red Hill Development. 
“We also use the natural gas we produce from wells drilled in Ohio for fueling equipment in our family’s waste-hauling business — it’s a nice little closed-loop system.”
Read the whole story here.

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