Seeking Alpha reports today that the U.S. Securities and Exchange Commission has ended its investigation of former Chesapeake Energy CEO Aubrey McClendon.
It does not recommend enforcement action, according to Chesapeake's latest 10-Q filing.
The two-year probe concerned a perk that allowed McClendon to invest in oil and gas wells CHK drilled; McClendon pledged his stakes in the wells as collateral to borrow more than $1B, much of it from financial firms that also invested in CHK.
McClendon left Chespeake in April 2013 in the face of a stockholder revolt.
He is now running American Energy Partners, a new private company that has hired Chesapeake to drill wells in Ohio.
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.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
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.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.