Aubrey McClendon Marches Ahead in Utica Shale Play
YOUNGSTOWN, Ohio -- Former Chesapeake Energy Corp. Chairman and CEO Aubrey McClendon is moving forward with exploration efforts in Utica shale, an energy play that he once dubbed the "biggest thing to hit Ohio since the plow."
The Ohio Department of Natural Resources awarded McClendon's new company, American Energy Utica LLC, five horizontal well permits Nov. 26 that allows oil and gas exploration on the Jones property in Nottingham Township, Harrison County.
As chairman of Chesapeake, McClendon blazed the trail in eastern Ohio's Utica in 2010 and had scooped up more than one million acres under lease by 2012.
However, shareholders miffed by McClendon's spending and his questionable interests in well sites that he leveraged for personal loans, staged a revolt that ultimately led to his resignation as chairman earlier this year.
In October, American Energy Utica announced it has raised $1.7 billion in capital to secure new leases in the Utica shale play.
ODNR also issued three permits to Chesapeake for wells in Carroll County, two on the Bailey property in Lee Township and one on the Lucas farm in Loudon Township.
The state also awarded single well permits for Gulfport Energy in Belmont County; PDC Energy in Washington County; Carrizo Utica LLC, EQT Production Co., and Anadarko E&P Onshore LLC all in Guernsey County.
No permits were issued for Mahoning, Columbiana or Trumbull counties for the week ending Nov. 30, according to ODNR.
In western Pennsylvania, the Pennsylvania Department of Environmental Protection issued a new permit to Hilcorp Energy Co. for a horizontal well in Mahoning Township, Lawrence Count on Nov. 27.
No no additional permits issued for Mercer County during the week ending Nov. 30, according to the DEP.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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