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.
Several Republican candidates who’ve voted to end ethanol subsidies and oppose the renewable fuel standard are set to speak to an agriculture industry gathering in Iowa this weekend, risking a backlash from America’s Renewable Future, the group that is promoting ethanol interests in the 2016 presidential campaign, The Wall Street Journal reports.
The Environmental Protection Agency’s inspector general has issued a report questioning EPA’s decision to use Title 42 authority to pay 23 employees salaries above the normal cap of $201,700 a year, The Hill reports.
House Natural Resources Committee Chairman Rob Bishop, R-Utah, is slamming the Interior Department’s “same old, same old” $13.2 billion budget request while ranking member Rep. Raul Grijalva, D-Ariz., praised the agency for bringing in more money than it spends through its energy leasing policies, The Hill reports.
Rep. Ted Lieu, D-Calif., told a hearing Thursday on the Torrance refinery explosion that he would ask the U.S. Chemical Safety Board to investigate the accident, while outside the hearing refinery workers issued warnings about safety practices, KCLA reports.
Concerns about attacks on oil facilities in Libya and Iraq pushed oil prices higher early Friday. U.S. benchmark crude increased 10 cents to $50.86 a barrel, while London Brent was 50 cents higher at $60.98, Reuters reports.
The circumstances surrounding New Jersey’s $250 million dollar settlement with Exxon Mobil over industrial pollution should be examined by a federal prosecutor, according to state Senate President Stephen Sweeney, who is skeptical about the motives of GOP Gov. Chris Christie's staff, NJ Advance Media reports.
Republican Aric Nesbitt, chairman of the Michigan House Committee on Energy Policy, has proposed ending the state's 15 years of electricity market competition, but his plan was immediately greeted by a chorus of criticism, The Associated Press reports.
Calling a truce with longtime critic ForestEthics, 3M Co. is promising to trace the source of the paper and pulp it buys and refuse purchases of material from threatened forests, the Star Tribune reports.