American Energy settles with Chesapeake
Wednesday, April 15, 2015
According to The Business Journal, a settlement was reached April 14 between Chesapeake Energy Corp. and American Energy-Utica LLC.
In February, Chesapeake filed a lawsuit against Aubrey Mcclendon, its former CEO. McClendon was forced to leave Chesapeake and then formed American Energy Partners LP, which includes the affiliate American Energy-Utica LLC. In the lawsuit, Chesapeake accused McClendon of sharing trade secrets when he left the company.
In terms of the settlement, Chesapeake agreed to let go of its claims against American Energy-Utica for 6,000 acres of oil and gas leases in northern Harrison County. The newspaper reports that the settlement also involves $25 million in cash.
Via: The Business Journal > American Energy, Not McClendon, Settles with Chesapeake
Related:
- Chesapeake Energy sues former CEO Feb. 19, 2015
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