WHAT WAS AUBREY'S FUNCTION IN ASCENT RESOURSES?
I was just wondering what Aubrey's influence was on Ascent Resources? I heard he didn't call the shots. They do hold many of our leases. Just curious what affect his death will have on the shale boom around here.
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Permalink Reply by james david lamm on
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he was the boss RIP.
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Permalink Reply by Mike Murphy on
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I thought ASCENT was a spinoff from AEP so I am sure Aubrey had his finger in its operations even though on paper he was not involved
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Like to know how much stock Aubrey controlled in ASCENT or his family name was on If you were a WILDCATTER and controlled leases in a prime area of a play would you walk away from it and not be involved in future operations ........who to say Jeff Fisher is not just a frontman for Aubrey
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If Ascent was a spinnoff of AEP who is the private owner......Jeff Fisher not the owner I say Aubrey was ..........I cant find anywhere that Ascent was sold and AEP started it and AEP was Aubrey and Fisher was a frontman for Aubrey
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Permalink Reply by Finnbear on
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Matt, I have worked for a "privately held company" (not in O&G) since 1984. The members of the family that owns it all own shares of stock in the company, they are just not publicly traded.
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Permalink Reply by bo boboski on
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From what I read; Aubrey put together 5/6 companies since his ousting from CHK.some not even in this country. He chose not to be in a management position in most of them,including Ascent. That doesn't mean they weren't HIS companies. He was recently only a CEO at American Energy Partners. His role in the others? Probably Owner,or atleast; part owner. He probably chose who would manage them. You can read a lot of history about him looking at Oklahoma City news sites. That city owes a lot to him. I cant wait for Autopsy results,but may take months. And with billions of dollars floating around ,in this case; anything is a possibility. Believe what you want,but I'll have a hardtime believing what the news reports. As far as Ascent,they are still drilling away,and their landman as busy contacting N.C. Man in Londonderry Twp.Guersney Co.Ohio. On the day after Aubreys death.,about renewing his lease.
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Permalink Reply by lance on
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Yes the land man was there to offer him a pettily 500.00 and acre and a one year lease down from 1000.00 an acre earlier...
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Company Overview
The Energy & Minerals Group is a private equity firm specializing in buyout investments in the natural resource industry including in upstream and midstream companies in energy, mining, and minerals sectors. It also makes infrastructure investments. The firm seeks to invest in North America, South Africa, and Australia. The firm makes equity investments of $150 million to $1 billion in its portfolio companies. The Energy & Minerals Group was founded in 2006 and is based in Houston, Texas with an additional office in Dallas, Texas.Key Executives For The Energy & Minerals Group
Mr. John T. Raymond
Co-Founder, Managing Partner, Chief Financial Officer, and Chief Executive Officer
Age: 44
Mr. John Gregory Calvert
Founder, Managing Partner, and Director
Age: 51
Mr. Patrick Wade
Managing Director
Age: 45
Mr. Jeffrey A. Ball
Managing Director
Age: 40
Mr. David R. AlbinAge: 55
------------------------
EMG (Energy & Minerals Group) is headed by John Raymond, son of Lee Raymond. Lee is the former CEO and Chairman of ExxonMobile.
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http://www.oilandgasinvestor.com/energy-minerals-group-halts-new-de...
Private-equity fund Energy & Minerals Group told investors on March 2 it will
stop entering new deals with Aubrey McClendon, the former CEO of Chesapeake Energy Corp (NYSE: CHK), a day after the U.S. government charged him with breaking antitrust laws. In a letter to investors seen by Reuters, EMG's Managing Partner John Raymond said his fund would "cease any and all new business activities" with McClendon, a legend in the U.S. energy industry.
The comments mark another reversal of fortune for McClendon, removing EMG as one of his main sources of capital to find and develop land in Ohio, Pennsylvania and other shale-rich states, as well as overseas.
The Justice Department charged McClendon on March 1 with rigging bids for oil and gas acreage. McClendon has denied the charges and was not immediately available for comment on March 2.
Houston-based EMG, which has invested some $3 billion in ventures with McClendon since he left Chesapeake in 2013 after investors questioned his leadership, said the allegations will not a!ect any of its portfolio companies.
But the indictment could signal that prosecutors are ready to apply stricter scrutiny to an industry that has seen few legal challenges in recent years to the way land lease agreements are negotiated with private landowners for thousands of parcels of minerals across the United States.
"These are serious allegations that have been made against McClendon (and could have equally serious implications across the industry) and EMG takes this matter very seriously," Raymond wrote.
The fund, which manages about $17 billion in assets, is planning to launch several energy companies it co-founded with McClendon's American Energy Partners by the end of March.
"It is purely a coincidence that these charges have been brought at the same time as these business arrangements were already being finalized," Raymond wrote in the letter.
Raymond stressed in the letter that the charges against McClendon "have nothing to do with EMG or any EMG portfolio company."
As of Feb. 26, McClendon is no longer CEO or a board member of any EMG portfolio company, Raymond added.[Ascent Resources LLC is an EMG portfolio company.]
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Permalink Reply by searcherone on
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The article from Reuters was published a couple of days prior to Aubrey's death. To me Aubrey was under much more stress than an indictment. . .where was his capital going to come from. According to another article even his 10K bottles of wine and the 20% ownership of the Oklahoma Thunder basketball team were on the line financially.
Perhaps a good investigative journalist will attempt to look behind the current headlines.
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