McClendon Utica/Marcellus Subsidiaries Combine & Form New Company

After getting the unceremonious boot out the door from Chesapeake Energy in early 2013, the company he co-founded 24 years earlier, it only took a few months for Aubrey McClendon to form a new company and raise billions of dollars of new capital investment (see He’s Baaaack! Aubrey McClendon is Back in OH Shale Country). The new company is called American Energy Partners (AEP). Since AEP’s founding, McClendon has done what he always does–create a plethora of subsidiary companies on paper for tax purposes, or to (temporarily) hide his ownership interest. McClendon has put the pedal down and has aggressively formed companies and attracted, at last count, nearly $9 billion (see Aubrey McClendon Raises Huge $8.7B for Shale Drilling…So Far). Part of McClendon’s strategy has been to spin off his new empire into “pure play” subsidiaries (see Another Brilliant McClendon Move: ‘Pure Play’ Public Companies). Yesterday, AEP announced that two of Aubrey’s biggest pure play subsidiaries, American Energy – Utica and American Energy – Marcellus, will combine to form a new pure play company called American Energy Appalachia Holdings…

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