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Aubrey McClendon Announces $4B In New Oil And Gas Deals

10/06/2014 by


Aubrey McClendon and his American Energy Partners announced $4.25 billion in acquisitions today — more big moves in his ongoing post-Chesapeake empire building.

First, AEP is shelling out $2.5 billion to acquire Denver-based Enduring Resources and its 63,000 net acres of leasehold with 16,000 barrels per day of production in the southern Permian Basin.

He also announced two other acquisitions, in the Utica shale region of Ohio and the Marcellus shale of Pennsylvania, totalling $1.75 billion. In the Utica, he’s acquiring 27,000 net acres (with 40 million cubic feet of daily natural gas production) from East Resources and an “unnamed private company.” And in the southern Marcellus shale of West Virginia he’s taking 48,000 acres (with 135 million cubic feet of daily natgas production) from East Resources and an unnamed private company.

East Resources is a division of Royal Dutch Shell , which bought the company in 2010 for $4.7 billion.

McClendon has been on a tear. Since creating American Energy Partners a year ago he’s raised roughly $10 billion in equity and debt to fund his acreage acquisitions in the Utica, Woodford, Marcellus and Permian Basin. McClendon’s primary backer has been The Energy & Minerals Group, with private equity group First Reserve also chipping in.

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