Aubrey McClendon's American Energy Partners starts midstream company

HOUSTON, June 18 Wed Jun 18, 2014 1:13pm EDT

HOUSTON, June 18 (Reuters) - American Energy Partners LP, founded by former Chesapeake Energy Corp chief executive, Aubrey McClendon, and private equity firm Energy & Minerals Group, have formed a company to invest in oil and gas pipeline and processing assets.

American Energy Midstream will invest in shale formations where the firms are operating, including the Marcellus and Utica shales in Pennsylvania and Ohio, the Permian Basin in West Texas and the Woodford in Oklahoma, the companies said on Wednesday.

Last week, American Energy Partners said it planned to buy shale assets for $4.25 billion.

The Oklahoma City, Oklahoma-based company - started a little more than a year ago following McClendon's ouster as CEO of Chesapeake - has secured $10 billion in financing commitments.

Energy and Minerals Group, based in Houston, is run by John Raymond, son of former Exxon Mobil Corp CEO Lee Raymond.

(Reporting by Anna Driver; Editing by Bernadette Baum)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article