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Ex-Chesapeake CEO McClendon, partnership file to raise up to $2B

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[December 14, 2013]  (Reuters)  A partnership related to Chesapeake Energy Corp's former Chief Executive Officer Aubrey McClendon filed for a public offering on Friday to raise up to $2 billion to buy and drill oil and gas properties within the United States.

The partnership, American Energy Capital Partners LP (AECP) is offering 100 million units at a price of $20 each, it said in a filing with the U.S. Securities and Exchange Commission.

AECP's operations will be managed by AECP Management LLC, which was founded by McClendon in July this year, the filing said.

An energy firm run by McClendon said in early October that it had raised $1.7 billion to drill on shale acreage in Ohio's Utica Shale.

A spokesman for McClendon, Steven Lipin, was not immediately available for comment.

McClendon, who co-founded Chesapeake in 1989, left in April after clashes over spending with the company's board and a series of Reuters' investigations led to civil and criminal probes of the company.

An internal investigation by Chesapeake's board has cleared McClendon of any intentional wrongdoing.

(Reporting by Neha Alawadhi in Bangalore; editing by Lisa Shumaker)

[ 2013 Thomson Reuters. All rights reserved.]

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