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Aubrey McClendon's American Energy raises another $500M

Jay F. Marks Published: January 29, 2014
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American Energy Partners LP has secured another $500 million in equity commitments to acquire oil and natural gas interests, the company announced Wednesday.

American Energy-NonOp LLC, an affiliate of Aubrey McClendon’s American Energy, intends to pursue non-operating working interests in various onshore oil and gas plays.

The company did not offer any further details in Wednesday’s announcement, although it is accepting leasehold submissions. It also is looking to hire people with acquisition expertise in a variety of disciplines.

The Energy & Minerals Group, a Houston-based firm, is the exclusive private-equity investor in the new American Energy venture. It manages more than $8.2 billion in assets.

The equity firm, led by industry veteran John T. Raymond, also was a lead investor in American Energy last fall when the company secured $1.7 billion in equity commitments and loans to move into eastern Ohio’s Utica Shale.

McClendon launched American Energy last year after being ousted by the new board at Chesapeake Energy Corp., which he co-founded with former partner Tom Ward in 1989.