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.
The Environmental Protection Agency does have the authority to reject a state’s air pollution plan, according to an appeals court ruling in a case brought by Kansas challenging authorities under the Cross-State Air Pollution rule, The Hill reports.
The Western Energy Coordinating Council has agreed to pay a $16 million penalty to FERC for its role in a 2011 power outage that left more than 5 million people in California, Arizona and Mexico without electricity, The Hill reports.
If a measure approved by the California Assembly last week becomes law, the state could have the toughest restrictions in the country on manufacturers of microbeads, which are used in products like toothpaste and cleansers, The New York Times reports.
Taking advantage of its target’s financial problems in the face of low crude prices, oil driller Crescent Point Energy Corp. is picking up Legacy Oil + Gas Inc. for around 563 million Canadian dollars in an all-stock deal, The Globe and Mail reports.