American Energy Partners

American Energy Partners | Energy Companies | Ohio | Statewide OH | Utica Shale

Aubrey McClendon’s Wandering Eye: Now Loves a Second Shale Play
February 26, 2014February 26, 2014

Does Aubrey McClendon have a wandering eye? Is he a shale play philanderer? It seems to us that since Aubrey was shown to the door of his own company (Chesapeake Energy) last year by corporate raider Carl Ichan, the only word to come out of Aubrey’s mouth has been “Utica.” It’s been Utica this and Utica that. He’s now raised more than $2.9 billion (!) for Utica Shale land acquisition and drilling (see McClendon Hauls in Another $1.2B, Utica Shopping Spree Continues).

But what’s this? Another shale play–closer to home (in Oklahoma)–seems to have caught Aubrey’s fancy and he’s now engaging in a dalliance back home. He’s already raised a cool $680 million for his new shale mistress…
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American Energy Partners | Energy Companies | Ohio | Statewide OH | Utica Shale

McClendon Hauls in Another $1.2B, Utica Shopping Spree Continues
February 20, 2014February 20, 2014

Aubrey McClendon is a high roller kind of guy–I think we can all agree on that one. We respect a guy who can put together deals like Aubrey can. A few weeks ago he announced that he had done deals to lease another 130,000 acres in the Ohio Utica Shale (see McClendon Confirms 3 New Utica Shale Deals: Hess, XTO, Paloma). Now he has to come up with the cash to pay for the deals. The company already has some of the cash, but they need more. Yesterday Aubrey announced that his new company, American Energy Partners, has raised an eye-popping additional $1.2 billion in cash, bringing his grand total (so far) to $2.9 billion raised since last October. The man has sure got some moves!

Here’s the latest complicated financing deals Aubrey’s been up to so he can continue snapping up Utica acreage, of which he once famously said “[the Utica] is the best thing to hit the state of Ohio economically since maybe the plow”…
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American Energy Partners | Energy Companies | Hess | Ohio | Statewide OH | Utica Shale | XTO

McClendon Confirms 3 New Utica Shale Deals: Hess, XTO, Paloma
February 4, 2014February 4, 2014

Aubrey McClendon’s American Energy continues its rapid expansion. Aubrey is raising money like crazy–and spending it like crazy too. Last week Aubrey landed another half billion dollars to spend in the Utica (see McClendon’s New Company Gets Another Half Billion $ for Utica). Then he spent it! The rumor was the mystery buyer of Hess’ 74,000 Utica Shale acres they sold for $924 million last week was McClendon (see Hess Sells 74,000 OH Utica Shale Dry Gas Acres to Mystery Buyer). It’s no longer a mystery–American Energy verified it is the buyer of the Hess acreage.

But hey, that was last week. It’s a new week, so it’s time for a new deal for Aubrey and American Energy. And right on cue, we have one: XTO Energy has announced they’ve done a deal whereby American Energy will fund 100 percent of XTO’s near-term drilling costs in a “core area” of 55,000 Utica Shale acres. In return, American Energy will get ownership of 30,000 net acres of XTO’s holdings in three Ohio counties. Yesterday Aubrey said he’s cut three deals recently–Hess, XTO and Paloma Partners. Between the three deals, Aubrey says he’s picked up another 130,000 acres in the Utica in the past week. The man is on a tear…
Read More “McClendon Confirms 3 New Utica Shale Deals: Hess, XTO, Paloma”
American Energy Partners | American Energy Utica | Energy Companies | Hess | Ohio | Statewide OH | Utica Shale

Hess Sells 74,000 OH Utica Shale Dry Gas Acres to Mystery Buyer
January 30, 2014February 4, 2014

Looks like the end of 2014 came in January of 2014 for Hess. On Oct 30, 2013 Hess’ Executive VP and President of Worldwide Exploration & Production, Greg Hill, said that Hess was working on figuring out their Utica Shale acreage and where the wet gas area is located so they could make decisions about where they will and won’t drill. Hill said they would make their final decision “at the end of 2014 once we finish delineation” (see Hess Officials Talk About the Utica on 3Q13 Earnings Call). Yesterday Hess announced they have struck a deal to sell to sell 74,000 Utica Shale dry gas acres to an unnamed buyer for $924 million. End of 2014 (and Christmas) came early for Hess. Why sell now? And, who was the buyer? MDN thinks we know (we speculate below).

Hess owns a 100% interest in 95,000 Utica Shale acres, and a 50% interest (in a joint venture deal with CONSOL Energy) for another 65,000 Utica acres. In consulting the Hess map of their Utica acreage below (from a November 2013 investor presentation), you can get a pretty good idea of where the acreage they’ve sold is probably located. Much of Hess’ 100%-owned acreage is in the “dry gas” area on the map–our money is that most of that acreage is what got sold. No doubt landowners will soon receive notifications if they are among those being traded to another drilling team. Below is the Hess announcement (which is brief), the map we located which helps shed light on the brief announcement, and our speculation on why they sold now, and who purchased…
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American Energy Partners | American Energy Utica | Energy Companies | Ohio | Statewide OH | Utica Shale

McClendon’s New Company Gets Another Half Billion $ for Utica
January 30, 2014January 30, 2014

Former Chesapeake Energy CEO Aubrey McClendon’s new company, American Energy Partners, keeps the money rollin’ in. Last fall AEP lined up a big pile of cash to be used to purchase leases in the Utica Shale (see McClendon Gets a Little Help ($1.7B) from His Friends in OH Utica). In December, Aubrey floated 100 million “units” (i.e. stock) in an effort to raise up to $2 billion more (see McClendon Plan to Raise Additional $2B in “Unit” Offering). No word on how that effort is going.

In the meantime, time’s a wastin’, so Aubrey has raised another $500 million in private equity to help fund Utica Shale ventures (see the story below). MDN wonders, is it just coincidence that AEP’s brief announcement was issued yesterday, on the same day that Hess announced their sale of 74,000 Utica Shale acres to a mystery buyer? Interesting, no?…
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American Energy Partners | Energy Companies | Utica Shale

McClendon Plan to Raise Additional $2B in “Unit” Offering
December 16, 2013December 16, 2013

Investors who want a piece of Aubrey McClendon’s plans to develop the Utica Shale are about to get a chance. On Friday, the Wall Street Journal and other media outlets disclosed that McClendon’s new company, American Energy Capital Partners, has filed with the Securities and Exchange Commission to sell up to 100 million “units” (something like a stock) for $20 per unit in an effort to raise up to $2 billion. McClendon plans to use the money to “develop or buy onshore oil and natural gas properties in the United States.” We imagine most of that will be focused on the Utica Shale where McClendon continues to focus his time and energy (see Exclusive: McClendon Buys 24K Acres of SWEPI Leases in OH Utica).

AECP has already raised $1.7 billion (see McClendon Gets a Little Help ($1.7B) from His Friends in OH Utica). Word of advice to Aubrey: Don’t sell any of those units to Carl Icahn…
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American Energy Partners | American Energy Utica | Energy Companies | Guernsey County | Ohio | SWEPI

Exclusive: McClendon Buys 24K Acres of SWEPI Leases in OH Utica
October 25, 2013

It seems that Aubrey McClendon is already putting some of that $1.7 billion he recently raised to good use (see McClendon Gets a Little Help ($1.7B) from His Friends in OH Utica). Thanks to an alert commenter on the GoMarcellusShale.com website, we now know where some of that $1.7B went.

In paperwork filed with the Guernsey County, OH Recorder’s office dated October 10, 2013, SWEPI (i.e. Shell) assigned what appears to be most or all of their leased Utica Shale acreage in Guernsey County over to McClendon’s America Energy – Utica company. The transfer (full copy embedded below listing ALL of the leases and landowners by name), includes 24,650 gross/24,016 net acres…
Read More “Exclusive: McClendon Buys 24K Acres of SWEPI Leases in OH Utica”
American Energy Partners | American Energy Utica | Energy Companies | Ohio | Statewide OH | Utica Shale

McClendon Gets a Little Help ($1.7B) from His Friends in OH Utica
October 10, 2013October 10, 2013

After the mass(acre) firings at Chesapeake Energy earlier this week (see The Great Chesapeake Massacre: Lawler Fires 800 People in One Day), we expect there may be a line out of the door at the Oklahoma City-based American Energy Partners (AEP), a company founded by former Chesapeake CEO, Aubrey McClendon–who was fired from Chesapeake earlier this year. Fired Chesapeake employees may have good reason to head on over to AEP HQ.

Yesterday McClendon announced AEP has raised $1.7 billion and plans to use that money this year to (a) snap up 110,000+ acres in the OH Utica, and (b) begin drilling on that acreage. He even has deals set up with midstream companies for gathering and processing. The details from McClendon and AEP (cue music to “With a Little Help from my Friends” by the Beatles):
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American Energy Partners | Carroll County | Columbiana County | Energy Companies | Lease & Royalty Payments | Ohio | Utica Shale

Aubrey Leases More Land for Drilling — in the Northern Utica!
October 7, 2013October 7, 2013

The puzzle pieces continue to fall into place with respect to the deals being done by former Chesapeake Energy CEO Aubrey McClendon in the Utica Shale. Last week MDN told you about a joint venture between McClendon’s new company, American Energy, and Red Hill Development, to lease land for drilling in southeastern Ohio–counties like Guernsey and Harrison (see McClendon’s Utica Company Does JV with OH Driller, Drilling Soon). We now know about a second joint venture–this one with Great River Energy–a new production company formed through a partnership between McClendon’s American Energy and Texas firm Orange Energy Consultants.

The surprise about this new jv? They’re leasing land in Columbiana and Carroll counties, north of what is thought to be the “sweet spot” in the Utica wet gas area. Looks like Aubrey just can’t stay away from the northern Utica!…
Read More “Aubrey Leases More Land for Drilling — in the Northern Utica!”
American Energy Partners | American Energy Utica | EMG | Energy Companies | Energy Services | Ohio | Statewide OH | Utica Shale

Aubrey McClendon Forms Utica Company, Gets Major Investor
October 1, 2013October 1, 2013

As MDN has said before and will no doubt say again, we believe Chesapeake Energy will rue the day they fired its founder, Aubrey McClendon. Just a few short months after being tossed out the door by board member and corporate raider Carl Icahn, McClendon founded a new company and was already active in Ohio’s Utica Shale (see He’s Baaaack! Aubrey McClendon is Back in OH Shale Country). His new company, with offices about a mile from Chesapeake’s HQ in Oklahoma City, is called American Energy Partners.

Word has leaked once again from “inside sources” that McClendon has now founded a second company, this one specifically set up to target the Utica Shale. The new company is called American Energy Utica and is being backed with big money by a prominent player in the energy space…
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American Energy Partners | Energy Companies | Industrywide Issues | Litigation | Ohio | Statewide OH

McClendon Gets Sued in OH Over New Company’s Name
September 3, 2013September 3, 2013

It’s no secret that coal has taken a beating from abundant, cheap shale gas. Natural gas burns cleaner than coal–there’s just no disputing that fact. And because of it, natural gas has displaced coal at a number of electrical generating plants around the country. However, coal remains a very important fossil fuel that powers much (in fact most) of American electricity. So it’s no surprise that the owner of a number of Ohio coal mines is a bit miffed with Aubrey McClendon.

Robert Murray operates a coal mine near Beallsville (Monroe County), OH under the name American Energy Corp. Aubrey McClendon named his new shale oil & gas company American Energy Partners. Murray is miffed enough with McClendon to sue him for misappropriation of the name American Energy. He believes McClendon has intentionally tried to confuse the marketplace…
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American Energy Partners | Energy Companies | Ohio | Statewide OH | Utica Shale

More Evidence that Aubrey McClendon Loves OH’s Utica Shale
September 3, 2013September 3, 2013

Aubrey McClendon is former CEO of Chesapeake Energy and now CEO of an upstart competitor he started named American Energy Partners (see AEP’s just launched website here). Aubrey is high on the Ohio Utica Shale. He’s rumored to be close to signing a deal with Shell for 50,000 OH Utica Shale acres, and is also rumored to be the unnamed buyer for EnerVest’s 22,535 OH Utica Shale acres sold just a few weeks ago (see He’s Baaaack! Aubrey McClendon is Back in OH Shale Country).

More evidence that Aubrey is focusing on Ohio: A bunch of advertisements AEP is running in OH media seeking to sign leases in the following counties…
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American Energy Partners | Chesapeake Energy | Energy Companies | Ohio | Statewide OH

He’s Baaaack! Aubrey McClendon is Back in OH Shale Country
August 19, 2013August 19, 2013

After being unceremoniously tossed out of the door at Chesapeake Energy (the company he founded) by corporate raider Carl Icahn, Aubrey McClendon is, according to the Columbus Dispatch and Upstream magazine, back and active in the Utica Shale with his new company American Energy Partners.

There are four VERY interesting, juicy tidbits in the story about Aubrey’s return to the Utica…
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