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Thursday, August 7, 2014

Aubrey McClendon's American Energy Teaming Up to Build $500 Million Utica Shale Pipeline

From Fuel Fix:
A $500 million pipeline planned for next year could carry natural gas from Aubrey McClendon’s growing web of gas wells in Ohio to the Gulf Coast and several mid-western and southern states. 
The midstream arm of American Energy, the new oil and gas venture of former Chesapeake Energy CEO McClendon, said Thursday it is teaming up with Dallas pipeline operator Regency Energy Partners to build a pipeline starting in Ohio’s Utica Shale that could push more than 2 billion cubic feet of natural gas per day across 52 miles to major pipeline systems that service Texas, Colorado and states along the nation’s southeastern rim. 
The pipeline would start in the Utica Shale, where American Energy has spent $3.5 billion amassing more than 260,000 net acres over shale gas deposits. The firm plans to drill 1,600 net wells there in coming years as McClendon, one of the first wildcatters to pounce on U.S. shale gas plays, builds a new company after his departure from Chesapeake Energy last year.
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