Problematic: McClendon’s AEP Not Paying Some of its Bills

Houston, We Have a ProblemDoes Aubrey McClendon’s American Energy Partners (AEP)–the new company he founded after being unceremoniously booted from Chesapeake Energy–have cash problems? You certainly wouldn’t think so. At last check in May 2014, McClendon had raised a staggering $8.7 billion in little more than a year (see Aubrey McClendon Raises Huge $8.7B for Shale Drilling…So Far). But the evidence keeps piling up that Aubrey isn’t paying his bills. In April, McClendon created a “blank check” company to raise $200 million in cash (see Aubrey McClendon’s New “Blank Check Company” Looks to Raise $200M). In May, Paloma Resources said a 3-way deal including McClendon’s AEP to lease 130,000 acres in the Ohio Utica Shale went bust because Aubrey didn’t have enough money to close the deal (see McClendon Running Out of Money?! Paloma Utica Deal Goes Bust). Last week MDN told you about a contractor working for AEP with several hundred thousand dollars in outstanding invoices that have gone unpaid–for more than 120 days (see Big McClendon News: Sells 35K Utica Acres, Creates New Company). Now the latest: a group of Ohio landowners have sued McClendon’s AEP along with an affiliate company and a land services company working for AEP, for non-payment of lease bonuses…

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