Widgets Magazine
Page 8 of 19 FirstFirst ... 345678910111213 ... LastLast
Results 176 to 200 of 460

Thread: American Energy Partners Business Practices (Aubrey McClendon)

  1. #176

    Default Re: Aubrey McClendon New Ventures

    On the real estate development front, this is a great article about a Lake Texoma project where McClendon is one of the owners.

    Bottom line: His ownership group may be sued in the near future by the State for not delivering on promises to develop a large property that was the former site of a lodge:

    Lake Texoma area residents, state officials grow frustrated with stalled Pointe Vista development | News OK

  2. #177

    Default Re: Aubrey McClendon New Ventures

    Oklahoma state agency claims Lake Texoma contract is secret | News OK

    Reported in Saturday's DO but not (yet) picked up here is the attempt by Aubrey McClendon & partner Mark Fischer to keep confidential an agreement to buy 1,022 acres from the state. Their entity is Pointe Vista and Fischer is CEO of Chaparral Energy. Pointe Vista inserted a confidentiality clause in the agreement which appears to violate the Oklahoma open records laws. Vista Pointe's earlier purchase of 758 acres for $14.6 million was not protected by open records laws. No one from Dept. of Tourism was quoted in the story. The lead:

    The state Tourism and Recreation Department will not provide a copy of a contract to sell more than 1,000 acres of state park land at Lake Texoma to a private developer, although experts say the document should be subject to the state's open records law.

    The contract, penned in 2008 by state tourism officials with Oklahoma City-based Pointe Vista Development, is for the sale of 1,022 acres of land in Lake Texoma State Park that includes a public campground with panoramic lake views in Marshall County."

  3. #178

    Default Re: Aubrey McClendon New Ventures

    Perhaps there should be a new thread, "American Energy Partners Business Practices."

    Chesapeake Co-Founder's New Startup Bets Big on Ohio - WSJ.com

    In today's WSJ (but not the Oklahoman - what are they doing up there at Broadway & Britton Road?) is the story that AEP has raised $1.2 billion to explore in Ohio. From the lead:

    Wildcatter McClendon Bets Big on Ohio Shale

    Aubrey McClendon, one of America's best known wildcatters, is betting again on striking it big in Ohio as he builds a new oil and gas exploration company.

    Mr. McClendon's deal-making in the rustbelt echoes the wager he made as chief executive of Chesapeake Energy Corp., before being ousted by unhappy investors earlier this year. It offers the first glimpse of how he hopes his comeback will unfold after he lost control of the company he co-founded in 1989.

    He has lined up about $1.2 billion in equity and debt financing for deals in Ohio, much of it coming from two energy-focused private-equity firms, according to people close to the matter.

    Mr. McClendon is close to completing an agreement to get more than $500 million from the Energy & Minerals Group, a Houston firm run by John Raymond, son of former Exxon Mobil Corp. Chief Executive Lee Raymond, according to people close to the deal.

    He expects to get another $200 million from private-equity group First Reserve, of Greenwich, Conn. Others will invest smaller sums, while Mr. McClendon will contribute some of his own money, the people said. The company has raised $400 million in debt, one person familiar with the matter said.

    Mr. McClendon's new company, American Energy Partners LP, struck a deal earlier this month to buy drilling leases on more than 22,500 acres in southeastern Ohio for $284.3 million from closely held EnerVest Ltd. and its publicly traded unit EV Energy Partners LP, according to people familiar with the deal.

  4. #179

    Default Re: Aubrey McClendon New Ventures

    They are up to a little over 75 people in their offices now.

  5. #180

    Default Re: Aubrey McClendon New Ventures

    Anyone know what the minimum amount AM will accept as an investment? If he started Chesapeake with $50,000 imagine what he can do if he starts with $1.2 billion.

  6. #181

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by Just the facts View Post
    Anyone know what the minimum amount AM will accept as an investment? If he started Chesapeake with $50,000 imagine what he can do if he starts with $1.2 billion.
    Not sure...but I'm definitely thinking along the same lines as you are. Dude is a genius...risky as hell and sketchy at times, but a genius when it comes to building up a company. We'll see if he's learned how to take what he builds and move it into development mode. Will be interesting to see if he ever tries to take AEP public.

  7. #182

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by PhiAlpha View Post
    Not sure...but I'm definitely thinking along the same lines as you are. Dude is a genius...risky as hell and sketchy at times, but a genius when it comes to building up a company. We'll see if he's learned how to take what he builds and move it into development mode. Will be interesting to see if he ever tries to take AEP public.
    I think he's a genius at lining up capital. I'll give him that. And he's also proven to be quite successful at spending other people's money. He must be an amazing salesperson.

  8. #183

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by soonerguru View Post
    I think he's a genius at lining up capital. I'll give him that. And he's also proven to be quite successful at spending other people's money. He must be an amazing salesperson.
    He can certainly build up a company... he just needs to figure out how to spend less doing it and when to stop.

  9. #184

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by PhiAlpha View Post
    Not sure...but I'm definitely thinking along the same lines as you are. Dude is a genius...risky as hell and sketchy at times, but a genius when it comes to building up a company. We'll see if he's learned how to take what he builds and move it into development mode. Will be interesting to see if he ever tries to take AEP public.
    I would actually hope he does not go public, even if that meant not initially growing as fast. It is one thing to have a small circle of investors but still be private. Its quite another to go public and have to deal with Wall Street types and CNBC talking heads, not to mention all the SEC regulations, financial disclosures and scrutiny that comes with it. I think his a very smart person as well but I am not quite sure he has figured out how to manage other people's money.

    Frankly, I think a large number of companies should never go public, but that is another thread for another day.

  10. #185

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by PhiAlpha View Post
    Not sure...but I'm definitely thinking along the same lines as you are. Dude is a genius...risky as hell and sketchy at times, but a genius when it comes to building up a company. We'll see if he's learned how to take what he builds and move it into development mode. Will be interesting to see if he ever tries to take AEP public.
    When...I would think

    No way he'll be content with building a company that tops out where most all private companies top out. There are only 2 companies in the US that gross more than $35B...

  11. #186

    Default Re: Aubrey McClendon New Ventures

    I just think he'll not lose all the shares this time...

  12. #187

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by Teo9969 View Post
    I just think he'll not lose all the shares this time...
    he will most likely use super shares .. so that he retains majority control

  13. #188

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by Teo9969 View Post
    When...I would think

    No way he'll be content with building a company that tops out where most all private companies top out. There are only 2 companies in the US that gross more than $35B...
    ...that you know of. Private companies don't disclose those figures.

  14. #189

    Default Re: Aubrey McClendon New Ventures

    Quote Originally Posted by Just the facts View Post
    ...that you know of. Private companies don't disclose those figures.
    You can't hide $100B...

  15. #190

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    He'll never take another company public. Aubrey can't stand the oversight, disclosure requirements and loss of control, and investors couldn't stand another ride like the last one.

  16. #191

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    Quote Originally Posted by OKCTalker View Post
    He'll never take another company public. Aubrey can't stand the oversight, disclosure requirements and loss of control, and investors couldn't stand another ride like the last one.
    i would bet that he does ... but that he retains majority control ....

  17. #192

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    AM has no reason to take a company public. He can raise every dollar he needs via private equity. However, if he ever did I expect him to take the cash a retire right after he does it.

    He tried that control (he was the single largest stock holder although it was not a majority) stuff last time - then he had a margin call and had to sell it all.

    From 2008

    http://newsok.com/market-slide-wipes...rticle/3310107

    A slumping stock market forced Aubrey McClendon, the high-profile head of one of the state’s most dynamic energy companies, to sell "substantially all” of his 33.4 million shares of Chesapeake Energy stock, he disclosed Friday.

  18. #193

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    Quote Originally Posted by Just the facts View Post
    AM has no reason to take a company public. He can raise every dollar he needs via private equity. However, if he ever did I expect him to take the cash a retire right after he does it.

    He tried that control (he was the single largest stock holder although it was not a majority) stuff last time - then he had a margin call and had to sell it all.

    From 2008

    Market slide wipes out CEO?s Chesapeake holdings | News OK
    that is why super shares are a good idea ... USATODAY.com - Google IPO's two classes of stock raise questions

    and he can also just retain control from the start ..

    he lost control because he bought tons and tons of "extra" peake shares on margin ... and when the drop happened and then the call .. he had to sell everything to cover his losses ..

    he won't make that mistake again

  19. #194

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    I'll agree with you that if he does do it - super shares are the only route he would take. His biggest problem though would be getting enough investors to go along. Google could do it because... well, because they were Google.

  20. #195

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    Quote Originally Posted by Just the facts View Post
    I'll agree with you that if he does do it - super shares are the only route he would take. His biggest problem though would be getting enough investors to go along. Google could do it because... well, because they were Google.
    the other option is to do what Harold did ... he still owns 70% +\- of CLR and it is still "public"

  21. #196

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    He'll also have to be a little more on the up and up. My sole mineral rights lease (Apache) was looked over a few years back and the attorney said it looked fine and wasn't dodgy and pushing what should be company fees on to the mineral rights owner, that kind of thing. He specifically said at that time that Chesapeake leases are the worst. He said they are embarrassing to read thinking that a local company was responsible. He said at that time that Aubrey McClendon's greed (and the dirty, underhanded leases were just an example) would one day come back to bite him. Score one for my oil and gas attorney.

    Mr. McClendon is not exactly someone we should look up to. He wasn't a victim of an unfair shareholders rebellion. He was the victim of his own GREED.

  22. #197

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    I don't know Aubrey Mclendon in any interpersonal capacity, but from everything I have gathered, held wants to.be this generations JD Rockefeller. You don't do that, in 2013, by staying private. At the very least, I think he wants to.build a company worth $100B...again only 2 private companies have revenues in the $100Bs.

    It's one thing to raise $2.5B in private loans, it's quite another to raise $25B.

  23. #198

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    Quote Originally Posted by Teo9969 View Post
    I don't know Aubrey Mclendon in any interpersonal capacity, but from everything I have gathered, held wants to.be this generations JD Rockefeller. You don't do that, in 2013, by staying private. At the very least, I think he wants to.build a company worth $100B...again only 2 private companies have revenues in the $100Bs.

    It's one thing to raise $2.5B in private loans, it's quite another to raise $25B.
    I hope he succeeds, even with the cloud that hung over CHK, he knows how to give to his community.

  24. #199

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    Quote Originally Posted by zookeeper View Post
    He'll also have to be a little more on the up and up. My sole mineral rights lease (Apache) was looked over a few years back and the attorney said it looked fine and wasn't dodgy and pushing what should be company fees on to the mineral rights owner, that kind of thing. He specifically said at that time that Chesapeake leases are the worst. He said they are embarrassing to read thinking that a local company was responsible. He said at that time that Aubrey McClendon's greed (and the dirty, underhanded leases were just an example) would one day come back to bite him. Score one for my oil and gas attorney.

    Mr. McClendon is not exactly someone we should look up to. He wasn't a victim of an unfair shareholders rebellion. He was the victim of his own GREED.
    A) I have no doubt that CHK's leases favor the operator, I've seen them, they do, but so do leases sent out by any other company that doesn't have an idiot running the land department. We don't create leases that favor landowners, that is not our job. We create leases that allow us to do our job that are at least decently fair to the landowner. We aren't out to screw people over, but it's not our job to give anything away. When land owners ask for changes, we'll generally make concessions.
    B) CHK's leases aren't that much different than a "standard" Producer 88 lease form.
    C) It's your job as a landowner to read the lease and make sure that you feel you're getting a deal you're comfortable. If you don't feel you are capable of interpreting a lease, hire an attorney. So Zookeeper - Good job, you did what you should have if you weren't completely comfortable interpreting the lease yourself and I'm sure it has paid off for you. I don't have much sympathy for people who sign something without paying attention than cry foul when something doesn't turn out like they thought it should.

  25. #200

    Default Re: American Energy Partners Business Practices (Aubrey McClendon)

    Quote Originally Posted by PhiAlpha View Post
    A) I have no doubt that CHK's leases favor the operator, I've seen them, they do, but so do leases sent out by any other company that doesn't have an idiot running the land department. We don't create leases that favor landowners, that is not our job. We create leases that allow us to do our job that are at least decently fair to the landowner. We aren't out to screw people over, but it's not our job to give anything away. When land owners ask for changes, we'll generally make concessions.
    B) CHK's leases aren't that much different than a "standard" Producer 88 lease form.
    C) It's your job as a landowner to read the lease and make sure that you feel you're getting a deal you're comfortable. If you don't feel you are capable of interpreting a lease, hire an attorney. So Zookeeper - Good job, you did what you should have if you weren't completely comfortable interpreting the lease yourself and I'm sure it has paid off for you. I don't have much sympathy for people who sign something without paying attention than cry foul when something doesn't turn out like they thought it should.
    or cry foul when they realize that they could have made more money had they been more informed. Once the landowner starts getting greedy and instead of talking about it at lease renewal decides to try and take it to court...well that's the one that is really annoying.

    (Obviously there are cases where companies take certain things further than they should and rightfully lose a case, but I doubt that any Fortune 500 energy company is doing this on any sort of remotely regular basis)

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Aubrey McClendon speaks the truth
    By ou48A in forum Businesses & Employers
    Replies: 1
    Last Post: 09-28-2011, 12:17 PM
  2. Aubrey McClendon increases ownership in KSBI
    By Nermel in forum Arts & Entertainment
    Replies: 5
    Last Post: 02-17-2009, 05:13 PM
  3. McClendon speaks out against OG&E's proposed plant
    By metro in forum General Civic Issues
    Replies: 21
    Last Post: 09-11-2007, 07:36 AM
  4. McClendon & Ward invest in KSBI TV
    By metro in forum General Civic Issues
    Replies: 2
    Last Post: 06-07-2007, 12:32 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO