An affiliate of Aubrey McClendon's American Energy Partners LP said on Wednesday it has lined up $500 million in equity commitments to fund an oil and gas business. American Energy NonOp LLC, received the commitment from Houston-based private equity firm Energy & Minerals Group and American Energy Partners' management.The funds will be used to acquire producing and non-producing leasehold. A spokesman for McClendon declined to provide additional details.The Energy & Minerals Group and its majority owner John Raymond is the lead equity investor in another McClendon venture. In October, McClendon's Oklahoma City, Oklahoma-based firm said it had raised $1.7 billion to drill in Ohio's Utica shale.McClendon co-founded Chesapeake Energy Corp in 1989, the No. 2 U.S. natural gas producer.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK traded higher by 0.3% or $0.08/share to $26.84. In the past year, the shares have traded as low as $18.21 and as high as $29.06. On average, 8780400 shares of CHK exchange hands on a given day and today's volume is recorded at 3608994.
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