3 Energy Stock Stories Ready For Weekend Entertainment
Chesapeake Energy Corp. (NYSE:CHK): Closing price $25.00
He’s baaaaack! The founder and former Chief Executive Aubrey McClendon, since being sacked as Chesapeake’s CEO in April, has created his own company, American Energy Partners LP, and is said to have raised a stake of $1 billion with which to go on shopping spree for new properties. A report by Upstream Online claims that McClendon’s new firm has put in the top bid for 50,000 acres in the Utica shale play in Ohio that Royal Dutch Shell is divesting. The acreage is fragmented and is also reportedly a part of a still unproven oil play in the region. Others believe that McClendon has purchased 22,500 acres from Enervest and its affiliate EV Energy Partners L.P. for over $280 million.
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