OKLAHOMA CITY, April 14, 2015 /PRNewswire/ -- 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.
About American Energy – Utica, LLC:
American Energy – Utica, LLC is an independent oil and natural gas company affiliated with American Energy Partners, LP focused on the acquisition, development and production of unconventional oil, natural gas liquids and natural gas resources in the Utica Shale play in eastern Ohio.
About The Energy & Minerals Group:
EMG is the management company for a series of specialized private equity funds. The Firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $15.5 billion of regulatory assets under management and approximately $8.2 billion in commitments have been allocated across the energy sector since inception. For additional information, please visit www.emgtx.com.
SOURCE American Energy - Utica, LLC