McClendon’s company merges two affiliates

Finance Spreadsheet
Source: DollarPhotoClub

American Energy Partners, a company founded in 2013 by former Chesapeake Energy Corp. CEO Aubrey McClendon has announced a merger of its two affiliates operating in eastern Ohio and northern West Virginia. The move will result in the formation of one of the largest energy companies in Appalachia.

American Energy-Utica and American Energy-Marcellus will merge creating American Energy Appalachia Holdings, which will be wholly owned by current shareholders of the two American Energy affiliates.

The new company will hold more than 300,000 acres in the natural gas-rich Utica and Marcellus shales.

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