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McClendon’s American Energy-Utica Rents Chesapeake Rigs To Drill New Wells

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April 23, 2014

Aubrey McClendon, the pioneering shale wildcatter who helped usher in the U.S. energy renaissance, has hired the company that fired him to drill wells for his newest natural gas venture.

A subsidiary of McClendon’s American Energy Partners LP is paying between $23,500 and $26,000 a day to rent seven rigs from Chesapeake Energy Corp. (NYSE: CHK), the Oklahoma City-based gas producer he co-founded a quarter century ago, according to a proxy filing April 17.

Chesapeake, which terminated McClendon last year amid a shareholder revolt, signed the six-month agreements in October, ...

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