Friday, December 13, 2013

He's Baaack: Former Chesapeake CEO McClendon's New Company Awarded Five Horizontal Well Permits

From the Business Journal-Youngstown:

Aubrey McClendon Marches Ahead in Utica Shale Play
YOUNGSTOWN, Ohio -- Former Chesapeake Energy Corp. Chairman and CEO Aubrey McClendon is moving forward with exploration efforts in Utica shale, an energy play that he once dubbed the "biggest thing to hit Ohio since the plow."

The Ohio Department of Natural Resources awarded McClendon's new company, American Energy Utica LLC, five horizontal well permits Nov. 26 that allows oil and gas exploration on the Jones property in Nottingham Township, Harrison County.

As chairman of Chesapeake, McClendon blazed the trail in eastern Ohio's Utica in 2010 and had scooped up more than one million acres under lease by 2012....MORE
This news follows on October's "McClendon Raises $1.7 Billion for Utica Acquisitions" reported by Bloomberg in October.
More to come.