A firm backed by former Chesapeake Energy Corp Aubrey McClendon said on Monday it has raised nearly $700 million in financing to acquire acreage and production in central Oklahoma. American Energy Woodford LLC (AEW) is backed by private equity investor Energy & Mineral Group and AEW management. Energy & Minerals Group has backed a similar McClendon oil and gas venture in Ohio.Proceeds will initially be used to acquire about 120,000 net acres and about 6,000 barrels oil equivalent per day in the Woodford Shale and Mississippi Lime formation, AEW said in a statement.The assets are being acquired from four sellers including Calyx Energy LLC and Liberty Energy LLC.Since leaving Chesapeake in April, McClendon has raised nearly $4 billion in cash and financing to invest in North American shale formations.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK traded higher by 3.03% or $0.805/share to $27.38. In the past year, the shares have traded as low as $18.21 and as high as $29.06. On average, 9049560 shares of CHK exchange hands on a given day and today's volume is recorded at 6577813.
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