OKLAHOMA CITY (AP) — Oklahoma City-based Chesapeake Energy Corp. is suing its founder and former CEO Aubrey McClendon and his new company for allegedly taking sensitive trade secrets when he resigned from Chesapeake two years ago.
McClendon and his new company — American Energy Partners — call the allegation meritless and say McClendon left Chesapeake with an agreement that he would receive "extensive" information on land, wells and other matters.
Aubrey McClendon’s American Energy Partners will combine its operations in the Marcellus Shale and Utica Shale under the name American Energy Appalachia Holdings in an all-stock deal, the company said, according to The Wall Street Journal.
John Raymond’s Energy & Minerals group has invested some $3.2 billion in companies set up by former Chesapeake CEO Aubrey McClendon, but retains an unusual level of control over decision-making, The Wall Street Journal reports.
American Energy, led by ex-Chesapeake Energy CEO Aubrey McClendon, is to buy 14,000 acres in West Texas from Tall City Exploration for $440 million, a move that would double the company’s footprint in the Permian Basin, FuelFix reports.
The Securities and Exchange Commission investigation into former Chesapeake CEO Aubrey McClendon has wrapped up with no recommendation made for any action to be taken, the company reported Wednesday, according to Reuters.
A subsidiary of American Energy Partners, the company run by shale pioneer Aubrey McClendon, is renting seven rigs from his former firm Chesapeake Energy to drill for gas in the Utica Shale, Bloomberg reports.
Chesapeake Energy Corp. chairman Archie Dunham is continuing to buy large quantities of the company's shares despite its recent troubles, with the company reporting that he spent $1.4 million buying more last week, The Wall Street Journal reports.
New England governors gathering in Connecticut for an energy summit last week agreed electricity prices are a problem for the region and pledged cooperation to confront it, but came away without specific solutions, the New Hampshire Union Leader reports.
The nuclear industry believes the six percent output from nuclear plants that could be credited towards emissions reduction goals under the Environmental Protection Agency’s Clean Power Plan is an arbitrary number that should be changed, The Hill reports.
The Vatican summit on climate change set for Tuesday is part of a campaign by Pope Francis on the issue, according to National Journal, which questions whether it will have an impact on Republican politicians such as Sen. Marco Rubio and House Speaker John Boehner.