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Monday, September 8, 2014

Aubrey McClendon Plans Multiple Shale IPOs, Calls Utica Shale "Extraordinary"

From Bloomberg:
Aubrey McClendon, the U.S. shale gas pioneer fired from Chesapeake Energy Corp. (CHK) last year, plans to take public the exploration companies he has formed since. 
McClendon, who has raised about $10 billion to acquire gas fields in the past 16 months, told a conference in Dallas yesterday that he intends to start a collection of companies that each specialize in a single U.S. shale region. 
McClendon’s American Energy Partners LP already has created subsidiaries focused on shale formations and pipeline networks from Appalachia to the Great Plains. He’s also the guiding hand behind two so-called blind pool investment vehicles that plan to gather drilling rights across the U.S. 
“They’ll go public,” McClendon said during a presentation during Hart Energy’s A&D Strategies and Opportunities event. “They’ll have their own management” and he will “stand behind them.”
Read the whole article here.

Further, from Columbus Business First:
If the billions of dollars raised by Aubrey McClendon’s drilling company isn’t enough of an indicator of his fondness for the Utica shale, here’s more proof: 
“In our view, pound per pound, it’s the best gas rock in the U.S.,” McClendon said Thursday at a Dallas energy conference. 
A spokesman for American Energy Partners LP, McClendon’s year-old company, said the company would not comment on his special address. But the Twitter account forHart Energy, the company that put on the event, tweeted the pound-per-pound remark and said McClendon called the Utica “extraordinary.”
Read that article in its entirety right here. 

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