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Guest Post: American Energy Partners - Aubrey McClendon’s Next Energy Empire?

Submitted by Tyler Durden on 04/30/2013 21:32 -0400

Submitted by Joao Peixe of OilPrice.com

American Energy Partners: McClendon’s Next Energy Empire?

Less than a month after being ejected from Chesapeake Energy, the charismatic, yet controversial, Aubrey McClendon, has launched his next venture in the form of the American Energy Partners.

Forbes were sent a copy of the email that Aubrey sent to his many contacts in the oil and gas industry in his search for potential acquisitions, or assets that his new company could get involved with:

Good day to you! I have started a new E&P company, American Energy Partners, LP, and I am interested in being contacted regarding onshore US assets. My goal is to build a substantial E&P company both through the drillbit and through acquisitions of producing properties.

In particular, I will be looking for deals with a lot of drilling left on them and will also consider undeveloped acreage deals – plus, I am not scared of natural gas.

Thanks, Aubrey

McClendon has also erected three billboards around Oklahoma City stating that American Energy Partners are hiring new staff; a genuinely great opportunity be part of something from the beginning. Whilst McClendon has had a rough time lately, there is no denying his genius at building business empires.

The terms of his exit agreement from Chesapeake mean that he cannot hire any current Chesapeake employees until after January 2014, but he can hire:

(a) employees that have been assigned to him to provide the accounting support set forth in his employment agreement, (b) any employee assigned to Mr. McClendon as an assistant, (c) any employee who has been terminated by the Company (but who has not voluntarily departed the Company), (d) any employee who elects (or has elected) to accept any voluntary severance or retirement program offered by the Company or (e) any employee for whom the Company consents in advance to the soliciting and hiring by Mr. McClendon.

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Tue, 04/30/2013 - 21:34 | 3516254 stinkhammer

oil slut

Tue, 04/30/2013 - 21:40 | 3516268 Careless Whisper

The Careless Whisper Evening News Update & Threadjacking

Congressman Chaffetz Vows To Make Insider Trading By Senators, Illegal - Again

http://www.breitbart.com/Big-Government/2013/04/29/Rep-Jason-Chaffetz-Vo...

Amputee Actors Are Real -- Who Knew?

http://www.youtube.com/watch?v=qNsnCVuE2C4

Tue, 04/30/2013 - 21:41 | 3516273 ihedgemyhedges

Check Aubrey's margin account before you invest alongside him.........

Wed, 05/01/2013 - 06:12 | 3517038 disabledvet

he's a good 'ol boy. "Damn Yankees...i'll get you yet." and we shall see. he sounds excited...he's already created on massive business empire only to see it implode...i have absolute faith that he will be able to do the same...even better...once this new project gets underway. obviously i'd like to see him invest in the Utica and Marcellus Shale in Upstate New York but we shall see. our "cost basis" is still out of control in these here parts (as in the rest of the country) and i think you can never have too low prices for any good...especially since by definition it creates a MASSIVE labor market....IF you can put them to work of course. who knows...maybe he'll advocate a gold standard too!

Wed, 05/01/2013 - 08:21 | 3517210 N. B. Forrest

I'd invest with him. Anyone who can elicit such vitriolic hatred from the establishment is my kind of guy. Nothing he did was illegal, and everything was above board. His one big mistake was not being hedged when the Natty market tanked. I would think that he learned his lesson on that one.

Wed, 05/01/2013 - 08:54 | 3517298 pemdas

Right on! He was exhonorated by his own board of directors. No problem here, obviously.

Tue, 04/30/2013 - 21:59 | 3516313 nmewn

"S.716 struck down the STOCK Act’s requirement that federal officials’ financial disclosures be made available in an online format."

Yes...while everyone was preoccupied with Boston, guess what the other hand was doing?

Never let a crisis go to waste ;-)

Wed, 05/01/2013 - 06:21 | 3517041 disabledvet

good eye as usual. we're not quite there yet but I really believe Social Media had it's first great "coming out" with the Boston attacks "and chase." i've moved so far beyond God awful television...really found "hunting the terrorist on our land"...as tragic as the event was of course...quite entertaining. SMARTPHONES UBER ALLES! (it also i think gave people a GREAT view as to the awesome power of media in life now as well. 9/11 shut down the whole country (first test run of the internet device?) and this event...amazingly...shut down Boston. Yet still the young kid was found having crawled in a boat to hide by "some dude going out in his backyard cuz he heard a noise." TADA! TERRORIST ALERT! the rest of this stuff is really ridiculous. (but was it made to be so....

Tue, 04/30/2013 - 23:12 | 3516557 TheProphet

I have seen first hand the good things that Chesapeake has done in the community and for its employees.

But Aubrey McClendon was personally investing in all wells drilled by Chesapeake, and no disclosure of this material fact was ever made. And to fund his portion of the well costs, McClendon was personally borrowing money from the very companies McClendon was negotiating against in deals for the company. This is a conflict of interest of epic proportion, rising far past the point of being illegal.

Not only did McClendon serially violate the law, so did any member of the board who was aware of his actions and yet did not disclose.

Plain and simple, McClendon is a criminal. And the good things he has done does nothing to reverse that fact any more than a Harlem drug dealer passing out turkeys on Thanksgiving.

Wed, 05/01/2013 - 11:58 | 3518236 Thisson

Unfortunately, while I agree with you in general, in this economy there are only two roles: criminal and victim.

Tue, 04/30/2013 - 21:41 | 3516269 unwanted flatulence

One of the sleeziest fucks in the patch. Only a moron or bubble bernanke puts money with this criminal

Tue, 04/30/2013 - 21:49 | 3516287 Mae Kadoodie

These guys are like vampires...need to put a steak through the heart to kill em.

Wed, 05/01/2013 - 09:08 | 3517336 Whatta

a ribeye?

Tue, 04/30/2013 - 21:44 | 3516274 Dr. Engali

Is Authur Andersen going to do his accounting? Oops excuse me my mind time warped again. Damn Groundhog Day effect.

Tue, 04/30/2013 - 21:44 | 3516276 Facemelt

"Thank you for your bets."

Tue, 04/30/2013 - 21:51 | 3516285 kito

I had.Colombian food tonight.....I am a well of natural gas right now........

Wed, 05/01/2013 - 00:08 | 3516716 W74

Perogi and a burger. Same situation. Could be the fiber bar I had for desert though. Woman working the night shift at the hospital so I had to fend for myself.

Tue, 04/30/2013 - 21:53 | 3516292 buzzsaw99

low life lying four flushing sack of shit

http://www.youtube.com/watch?v=g_aPAggQz_A

Wed, 05/01/2013 - 00:06 | 3516712 W74

And yet: http://youtu.be/2H5uWRjFsGc?t=36s

Tue, 04/30/2013 - 21:53 | 3516293 nmewn

Step right this way ladies & gentlemen!

See the bearded lady, the dog faced boy, the man with three arms & hands!

_{(One of them being in your pocket)}

Step this way!

Tue, 04/30/2013 - 22:05 | 3516329 theliberalliberal

Chesapeake Energy

First gloss i read "cheapskate energy"

Tue, 04/30/2013 - 22:32 | 3516409 Gromit

You can''t keep a good man down.....

Tue, 04/30/2013 - 22:58 | 3516501 RealEstateWannabe

Seriously? You guys wouldn't consider investing with him simply because of a misunderstood position that he had re: percentage ownership in some wells? Love him or hate him.....McLendon knows how to get things done. He's not running for saint or CEO of a non-profit for god sake.....he's a cutthroat business man....the kind I like running my companies.

Wed, 05/01/2013 - 00:27 | 3516768 prains