In the past nine months, McClendon had raised a breathtaking $8.5 billion of institutional capital, started five companies and acquired production of 25,000 barrels of oil equivalent per day on 600,000 net acres. The parent company has grown to 325 from 16 employees, with about 30 new people joining every month.
McClendon is also forming a company that will allow investments by third-party broker dealer networks called American Energy Capital Partners LP, with $2-$3 billion capital raised.
Asked by Hart Energy if his high-profile status has opened doors to his raising capital, McClendon drew laughs by saying that during his time with Chesapeake he was caught in a “journalist drive-by shooting. My problem was I was in a cul-de-sac.”
Ultimately, he said his backers are people who “respected what I tried to stand up for and build over the last 30 years. It’s a lot of fun to be back out there.”You can read the entire article by clicking here.
Did Chesapeake Energy make a mistake by parting ways with McClendon?
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