• 4 minutes Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 7 minutes China Faces Economic Collapse
  • 13 minutes Oil Production Growth In U.S. Grinds To A Halt
  • 15 minutes Iran in the world market
  • 18 minutes Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 2 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 42 mins Trump Will Win In 2020 And Beyond..?
  • 54 mins Never Bring A Rapier To A Gun Fight
  • 23 mins Bahrain - U.S.: Signed Deal To Buy Patriot Missiles
  • 17 hours USAvChina.com
  • 6 mins USA Wants Iran War -- Shooty Shooty More
  • 8 hours Lest We Forget... A Brief Timeline of China's Modern History
  • 1 min Democrats and Gun Views
  • 4 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 12 hours Visualizing US Oil & Gas Production (Through May 2019)
  • 2 hours How OPEC and OECD play their role in setting oil price in light of Iranian oil sanction ?? Does the world agree with Iran's oil sanctions ???
Are Oil & Gas Stocks On The Cusp Of Breakout?

Are Oil & Gas Stocks On The Cusp Of Breakout?

Energy stocks as a whole…

Yergin: Expect Extreme Volatility In Oil Markets

Yergin: Expect Extreme Volatility In Oil Markets

Supply and demand issues and…

End Of The Road For American Energy Partners

American Energy Partners

The company founded by the late Aubrey McClendon will shut down this summer.

Aubrey McClendon made a name for himself at the helm of Chesapeake Energy, a company that he steered during the shale gas revolution, transforming it into the second largest producer of natural gas in the U.S. But he had a falling out with the board of the company, and was forced out in 2013.

From there, he raised $15 billion from an array of investors and launched his own shale drilling company called American Energy Partners. He hired 800 people and began shale gas exploration. American Energy even began to expand beyond the United States, signing agreements for shale drilling in Argentina with plans of spending $500 million. It also acquired a large lease in Australia.

Related: Russia Remains Determined To Stop Israel-Turkey Pipeline Deal

But, McClendon had a sudden and swift downfall. In March, he was indicted on charges of rigging an oil and gas auction. A day later he died in a high speed car crash in Oklahoma.

American Energy Partners will shut its doors in a few months. Half of its remaining 100 employees were laid off on May 18, while the rest will stick around to close down operations. Many of American Energy Partners’ assets have already been spun off into other companies and subsidiaries.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play