• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 2 hours Satellite Moons to Replace Streetlamps?!
  • 1 min EU to Splash Billions on Battery Factories
  • 19 hours US top CEO's are spending their own money on the midterm elections
  • 5 hours U.S. Shale Oil Debt: Deep the Denial
  • 5 hours The Balkans Are Coming Apart at the Seams Again
  • 21 hours OPEC Is Struggling To Deliver On Increased Output Pledge
  • 5 hours The Dirt on Clean Electric Cars
  • 17 hours Uber IPO Proposals Value Company at $120 Billion
  • 7 hours 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 19 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 1 day Petrol versus EV
  • 22 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 24 hours 10 Incredible Facts about U.S. LNG
Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

Trending Discussions

Aubrey McClendon’s Legacy

There is, of course, a terrible tragedy in the death of Aubrey McClendon on Wednesday, but there also is something larger. Inside the life and business that McClendon built is the ultimate personification of the U.S. shale oil and gas boom and current bust. In retelling some of the highlights of McClendon’s career we see not only the great American spirit of entrepreneurship and progress, but also the enormous excesses and lawless behavior that has characterized independent U.S. oil and gas in the last decade and a half that has contributed to the current decimation we’re seeing today.

Aubrey was a pioneer in harnessing the fracking technology invented by George Mitchell and building Chesapeake Energy (CHK) from the ground up with partner Tom Ward (later of Sandridge Energy (SD), and first tasted the power of the capital markets with the public offering of Chesapeake shares in 1993.

McClendon was fast in harnessing the leverage that was becoming more plentiful towards start-up energy companies to continue to buy up acreage and grow Chesapeake at a reckless and alarming rate – but with natural gas prices soaring in the late 1990’s and early 2000’s, it seemed to be only smart to continue to increase production (and Chesapeake share price) as rapidly as the capital markets would allow it. But McClendon was not satisfied to merely grow the company through leverage – he was the true personification of the cowboy wildcatter, taking…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News