All CATEGORIES
☰ Menu
Ohio Utica Shale

McClendon seeking another $2 billion for oil drilling

By Bob Downing Published: July 18, 2014

From Bloomberg News on Thursday:

Aubrey McClendon, the shale wildcatter who’s raised $1 million an hour since getting fired from  Chesapeake Energy Corp. last year, is seeking another $2 billion for oil drilling.

Energy 11 LP plans to offer 95 million common units for $20 each and 5.26 million units for $19, according to a prospectus the Fort Worth, Texas-based partnership filed today. The units will not trade on any public exchange. A subsidiary of McClendon’s American Energy Partners LP will manage all aspects of Energy 11’s business, the filing said.

Energy 11 plans to acquire interests in U.S. oil and natural gas fields, according to the filing. The entity is a so-called blind pool investment, a speculative vehicle with no assets or profits that gives investors a chance to help bankroll oil and gas wells.

The offering will terminate when all the units are sold or on Sept. 30, 2016, whichever comes first. This is the second blind pool McClendon has been associated with since he was fired from Chesapeake amid a shareholder revolt; American Energy Capital Partners LP announced plans to raise $2 billion in December.

Print
Add This

SUBSCRIBE VIA RSS

OHIO.COM VIDEOS

See the most recent drilling report and an injection wells map From NewsOutlet.org
Prev Next

Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.

Rig Count Interactive Map by Baker Hughes, an energy services company.

Shale Sheet Fracking, a Youngstown Vindicator blog.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

No Frack Ohio, a Columbus-based grass-roots group.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.