Ex-Chesapeake CEO Raises $680M For Okla. Shale Play

Law360, New York (February 24, 2014, 1:41 PM EST) -- Private equity-backed American Energy Partners LP, founded by the former head of Chesapeake Energy Corp., continued its deal-making blitz Monday, saying it has raised $680 million in equity commitments and bank loans to finance the acquisition of acreage in an Oklahoma shale play.

American Energy said the cash will be initially used to buy 120,000 net acres of leasehold and approximately 6,000 net barrels of oil equivalent daily production in the Woodford Shale/Mississippi Lime combination play in northern Oklahoma. The company said its goal is to...
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