McClendon’s American Energy-Utica Signs OH Water Deal with MWCD
The Muskingum Watershed Conservancy District (MWCD) continues its pro-drilling ways. MWCD was organized in 1933 to reduce the effects of flooding and conserve water for beneficial public uses, oversees 16 dams and reservoirs across 22 counties in Ohio, covering 20% of the state. A huge part of Ohio is under the oversight and control of the MWCD. We’ve previously covered their deals with Antero Resources to lease District property for drilling. We’ve also covered District deals to sell water to Antero and other shale drillers. Last week they signed a new deal, much smaller than others they’ve signed, to sell water to Aubrey McClendon’s American Energy-Utica subsidiary. American Energy will pay $6 per 1,000 gallons (a little over half a penny per gallon). The deal is only for three months–from May through July…
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It seems that Aubrey McClendon is already putting some of that $1.7 billion he recently raised to good use (see
After the mass(acre) firings at Chesapeake Energy earlier this week (see
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