McClendon's American Energy firm secures $500 million in financing
HOUSTON Jan 29 (Reuters) - An affiliate of Aubrey McClendon's American Energy Partners LP said on Wednesday it has lined up $500 million in equity commitments to fund an oil and gas business.
American Energy NonOp LLC, received the commitment from Houston-based private equity firm Energy & Minerals Group and American Energy Partners' management.
The funds will be used to acquire producing and non-producing leasehold. A spokesman for McClendon declined to provide additional details.
The Energy & Minerals Group and its majority owner John Raymond is the lead equity investor in another McClendon venture. In October, McClendon's Oklahoma City, Oklahoma-based firm said it had raised $1.7 billion to drill in Ohio's Utica shale.
McClendon co-founded Chesapeake Energy Corp in 1989, the No. 2 U.S. natural gas producer.
But he left his post of CEO in April of last year after clashes over spending with the company's board and a series of Reuters investigations led to civil and criminal probes at the company.
An internal investigation by Chesapeake's board last year cleared McClendon of intentional wrongdoing.
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