McClendon’s New Empire Continues to Separate and Leave
Aubrey McClendon’s new American Energy Partners continues to shed its component parts. Just two weeks ago MDN brought you the news that the largest subsidiary of the company in the Marcellus/Utica region, American Energy Appalachia Holdings, is being spun out into a 100% standalone company, changing its name to Ascent Resources (see Big McClendon News: Sells 35K Utica Acres, Creates New Company). Aubrey himself is still on the board of Ascent, but virtually everything about the new company, we’ve been told, has nothing to do with McClendon. It’s as if they’re running as far and fast as they can away from McClendon. Now, a second large subsidiary of American Energy Partners–the midstream part of the company–is doing the same thing. American Energy – Midstream, LLC announced today it is changing its name to Traverse Midstream Partners LLC (Traverse Midstream). Traverse is transitioning to a 100% standalone company, fully independent of the mother ship American Energy Partners. According to the press release, the spin-off into a new company was “contemplated since the company’s founding in June 2014.” The new company will be totally and completely separated effective July 1, 2015…
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