McClendon forms new company to buy oil and gas assets
Monday, May 4, 2015
Aubrey McClendon, founder of American Energy Partners and ex-CEO of Chesapeake Energy Corp., intends to create a new company that will purchase oil and gas assets, according to The Business Journal.
A U.S. Securities Exchange Commission filing contains details that the company, Avondale Acquisitions Corp., is a “blank check” company. The filing states that the company “formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.”
The public can purchase shares for $10 each. The company is offering over 20 million units, as detailed in the filing.
Via: The Business Journal > McClendon Forms ‘Blank Check’ Firm to Buy Assets
Related:
- American Energy settles with Chesapeake April 15, 2015
- Chesapeake Energy sues former CEO Feb. 19, 2015
- American Energy Partners founder sees value in Utica Sept. 10, 2014
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.