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Friday, December 13, 2013

Ex-Chesapeake CEO McClendon, partnership file to raise up to $2 bln, (NYSE: CHK)

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 purchase 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. (SEC filing:)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.

Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK traded higher by 1.01% or $0.27/share to $27.00. In the past year, the shares have traded as low as $16.23 and as high as $29.06. On average, 8934950 shares of CHK exchange hands on a given day and today's volume is recorded at 5612600.