Chesapeake founder seeks $1 billion for new venture

6/10/2013

Chesapeake founder seeks $1 billion for new venture

The former Chief Executive of Chesapeake Energy is attempting to raise $1 billion to help fund his new venture, American Energy Partners, The Financial Times reports.

Aubrey McClendon, who Co-Founded Chesapeake Energy in 1989 and built it into the second largest natural gas producer in the United States has approached private equity firms and sovereign wealth funds for financial backing for his new oil and gas company, The Financial Times reported without citing sources.

American Energy Partners intends to buy onshore United States oil and gas assets, according to its website.

Dow Jones Newswires

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