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Thursday, February 6, 2014

Aubrey McClendon's New Company Doubles Utica Shale Acreage

From Reuters:
Former Chesapeake Energy Corp (CHK.N) CEO Aubrey McClendon's American Energy Partners said on Monday that it had struck three deals in Ohio's Utica shale region, doubling its holdings there.
The company said it would buy about 130,000 acres in the southern part of the Utica shale from Hess Corp (HES.N), Exxon Mobil Corp (XOM.N) and privately held Paloma Partners. It said the three deals would bring its total acreage in the region to about 260,000 acres.
American Energy did not disclose how much it is paying for the acreage, but Hess said previously that it sold its 74,000 acres in the Utica for $924 million.
Read the whole article here. 

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