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Chesapeake, American Energy Utica Reach Settlement
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On February 17, 2015, Chesapeake Energy Corporation filed a lawsuit against American Energy Partners, LP, American Energy –Ohio, LLC, AEU Incentive Holdings, LLC, American Energy –Utica, LLC, McClendon Energy Operating, LLC and John Doe Investors 1-20.
The Energy & Minerals Group and American Energy – Utica, LLC, of which Aubrey K. McClendon is no longer an officer, have reached a confidential settlement. In exchange for the assignment of approximately 6,000 acres in Northern Harrison County, Ohio and a combination of cash and contingent cash payments not to exceed $25 million, AEU and the John Doe Investors 1-20 have been dismissed from the lawsuit with prejudice to the refiling of same, and are no longer parties. Chesapeake has informed The Energy & Minerals Group that litigation remains ongoing against American Energy Partners, LP and other parties and will be prosecuted accordingly.
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