Marcellus and Utica Shale driller American Energy Appalachia Holdings LLC is changing its name to Ascent Resources LLC, and becoming independent of Aubrey McClendon’s American Energy Partners, the Pittsburgh Post-Gazette reports.
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.
Democratic leaders in Appalachian states—Gov. Earl Ray Tomblin in West Virginia and Gov. Steve Beshear in Kentucky—are facing increasing pressure at home to refuse cooperation with the Environmental Protection Agency’s Clean Power Plan, E&E reports.
Opponents of the Obama administration plan to limit power plant carbon emissions started meeting a year and a half ago at the U.S. Chamber of Commerce headquarter to plot strategy to fight it, The New York Times reports.
The $1.3 trillion lost by investors in energy stocks since oil prices started to slide in June 2014 amounts to more than Mexico’s GDP, and hit pension funds as well as billionaires such as Carl Icahn, Bloomberg reports.
A rebound in China’s faltering stock market helped stabilize oil prices Tuesday, although traders told Reuters as a result of the continuing supply glut any recovery would only be temporary. U.S. benchmark crude rose 57 cents to settle at $45.74 a barrel on the Nymex, while in London, Brent nearly hit the $50 mark, gaining 47 cents to $49.99.
Strong performance by its California utilities and “growth opportunities” overseas helped Sempra Energy to a profit of $296 million in the second quarter, an increase of almost 10 percent, The Wall Street Journal reports.
Republican presidential hopefuls should be starting to lay out their “clear vision” of how they’d handle energy issues in the White House, said American Petroleum Institute President Jack Gerard, FuelFix reports.
Following disappointing results in July, Mexico has made adjustments to the terms of its offshore lease auction set for September, changing the required financial guarantees and also allowing companies to bid individually for some fields and as part of a group for others, The Wall Street Journal reports.
New efficiency standards being promoted by the Department of Energy would require that rechargeable batteries for devices such as cellphones, laptops and tablets hold their charge longer, cutting energy use by 11 percent, The Hill reports.