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McClendon at Helm of Utica-Focused E&P; Raises $1.7B in Equity
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American Energy – Utica, LLC (AEU), an affiliate of American Energy Partners LP has raised approximately $1.7 billion in private equity commitments and term loan proceeds to pursue a business plan focused on the Utica Shale play in eastern Ohio.
AEU's lead equity investor is The Energy & Minerals Group (EMG) and additional equity was provided by First Reserve Corporation, AEU management and others. AEU's lead debt investor is GSO Capital Partners, the credit investing division of Blackstone, and additional debt was provided by Magnetar Capital, BlackRock and others. AEU is headquartered in Oklahoma City and is led by its founder, Chairman and CEO Aubrey K. McClendon.
Acreage, Rig CountProceeds from these financings will be used initially to acquire approximately 110,000 net acres of…
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