He's BACK! Look out Ohio. Aubrey is back.

From Upstream Online (link)

Controversial former Chesapeake Energy chief executive Aubrey McClendon is getting back into the oil and gas business and is staking his comeback on the US play he described as the best thing to happen to Ohio since the plough — the Utica shale.

Sources suggested McClendon is close to buying at least one major acreage package and may have wrapped up another, and is already deploying his signature army of landmen leasing under the names of shell companies to hide their tracks.

The co-founder of shale giant Chesapeake was ousted from his own company by activist investors, but has reportedly raised $1 billion in a matter of weeks to back his new privately held operator American Energy Partners (AEP).

Offset and legacy operators, landowners, leasing agents and industry sources painted a picture of McClendon lodging high bids for major parcels to put together a strong position in counties such as Guernsey, Belmont, Harrison and Noble — an area south of Chesapeake’s focal point that has boasted some of the best wells in the play.

McClendon won the bidding for about 50,000 acres put on the market by Shell, which appears to be unloading most of its acreage in Ohio to concentrate its efforts on the Marcellus and the Utica in western Pennsylvania, where the Anglo-Dutch supermajor has looked at building an ethylene cracker to process production.

Sources who screened the Shell package, which included parcels in Jefferson, Guernsey, Harrison and Belmont counties, characterised the acreage as fragmented and trending toward the still unproven oil window of the play and said the supermajor was unwilling to piecemeal out the more prospective blocks.

Those sources suggested McClendon had reached an agreement to buy the entire package but had not closed the deal yet.

Shell declined to comment, other than to say its Appalachian basin “portfolio and strategy is unchanged” and it did not comment on ongoing commercial matters.

 

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Permalink Reply by David Mohn on August 16, 2013 at 5:38am

Well, you have to give him credit.  He didn't collect unemployment and food stamps very long till he found a new job!  LOL

Permalink Reply by gary SWF on August 16, 2013 at 7:59am

Aubrey McClendon makes a comeback with Utica shale deals • 11:27 AM

  • Aubrey McClendon is back with a vengeance in Ohio's Utica shale: His new American Energy Partners reportedly put up the high bid for 50K acres offered by Shell (RDS.A, RDS.B), and also is believed to have acquired 22K Utica acres from EnerVest (EOSOF.PK), one of Chesapeake’s (CHK) partners in Ohio.
  • McClendon may be able to reassemble much of his old team; this week, CHK announced the immediate departures of four execs including operating chief Steve Dixon, while longtime general counsel Henry Hood and public affairs chief Tom Price left in May.

Read comments


Would appear the announcement did not hit the news wires until 11:27 a.m. today....Maybe Frank has inside info.....anyway, Thanks Frank for the great timely report.......Gary

 

Permalink Reply by bo boboski on August 16, 2013 at 9:36am

Maybe that's who bought the Guernsey/Harrison 22,000 acres right in Gulfports best  sweetspot! Shell has acreage there also.

Permalink Reply by scott peterson on August 16, 2013 at 1:02pm

Was thinking same Bo.

Permalink Reply by kdj on August 16, 2013 at 1:14pm

This another positive for our area, if this fellow would go back in business to come here. He knows what's going on.

As a side note, I have a friend whose son is involved in some business where he encounters alot of successful people. He said McClendon was one of the most dynamic individuals he has encountered.

Permalink Reply by bo boboski on August 16, 2013 at 1:20pm

50,000 acres is about what Shell leased in guernsey county, back in oct. 2011

Permalink Reply by terrance J McConnell on August 16, 2013 at 1:46pm
Was checking my deed my lease with Chesapeake was transferred to Jamestown resources on 8-12-13 I'm in ohioville beaver county pa fedorchak unit ,hope this is positive
Permalink Reply by Gary on August 18, 2013 at 3:41pm

Terrence..only 2.5 % of your lease was transferred..that is what McClendon invests in every CHK well thwt is drilled..

Permalink Reply by terrance J McConnell on August 19, 2013 at 12:44am

Thanks Gary i couldn't open the transaction on the county web site  i was only able to see jamestown resources in the transfer thanks again

Mike MurphyPermalink Reply by Mike Murphy on August 17, 2013 at 12:30am

Aubrey McClendon Is Back, With Deals In The Utica
Comment Now Follow Comments
Aubrey McClendon is back with a vengeance and prowling Ohio’s Utica shale. The wildcatting landman and former CEO of Chesapeake Energy CHK +0.04% has tapped his deep-pocketed pals and raised $1 billion to buy up at least 50,000 acres (and perhaps more than 70,000 acres) in Ohio’s Utica shale.

According to a story in Upstream newspaper, also posted here, McClendon’s American Energy Partners put up the high bid for 50,000 acres offered by Shell in the Ohio portion of the Utica. A Shell spokeswoman says the company has no comment to add to the speculation and rumors.

McClendon is also thought to have acquired 22,000 acres of Utica acreage from EnerVest, one of Chesapeake’s partners in Ohio, for more than $250 million. EnerVest disclosed the deal here, but did not mention McClendon or AEP. Naturally, that deal was brokered by Jeffries — Chairman Ralph Eads is a former fraternity brother and longtime friend of McClendon’s. The two men co-own a winery in France.

The Two Sides Of Aubrey McClendon, America's Most Reckless Billionaire
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Aubrey McClendon Is Now Hiring
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In an email this morning, McClendon declined to confirm, deny or comment on the reports. “No sir, I am merely a small businessman and private citizen these days!” he wrote.

Assuming there’s some truth to Upstream’s reporting, it’s not surprising to see McClendon rush back into the game. As soon as he left Chesapeake last April he registered American Energy Partners as well as Arcadia Capital LLC and McClendon Energy Operating LLC.

Furthermore, it might not be long before McClendon reassembles his Chesapeake braintrust. This week Chesapeake’s new CEO Doug Lawler announced the immediate departures of operating chief Steve Dixon, production chief Jeff Fisher, drilling head Steve Miller and h.r. boss Martha Burger. Chesapeake’s long time general counsel Henry Hood left in May, along with public affairs chief Tom Price. Price reportedly said he intended to go to work with McClendon.

At Chesapeake, McClendon’s army of land men assembled a position of more than 1.2 million acres in the Utica. McClendon in 2011 was so jazzed on the prospects of the play that he insisted Chesapeake’s position there was worth more than $20 billion. The company later dialed back expectations there.

Permalink Reply by paleface on August 17, 2013 at 1:31am
Permalink Reply by searcherone on August 17, 2013 at 3:21am

paleface, this article definitely confirms that Aubrey is indeed back at full force.      Thanks.

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