DD Support Board and Research Team

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The Federal Indictment Of Aubrey McClendon

Christopher Helman
FORBES STAFF
MAR 1, 2016 @ 11:21 PM 6,149 VIEWS


Former Chesapeake Energy CHK +27.90% CEO Aubrey McClendon has been indicted by the DOJ for conspiring with another oil and gas company to rig bids for prospective acreage in Oklahoma. The indictment alleges that McClendon orchestrated a conspiracy whereby Chesapeake and an another unnamed company agreed not to bid against each other for acreage, in exchange for each company giving the other a JV interest in the prospects acquired. Unfortunately the indictment is incredibly thin on details, and doesn’t mention Chesapeake Energy by name — referring to it only as “Company A.” Big question: who was this other Oklahoma City-based company involved in the alleged conspiracy and referred to as “Company B?” Other big operators in OKC at the time included Continental Resources CLR +5.48%, Devon Energy DVN +10.20%, and SandRidge Energy (then run by Chesapeake co-founder Tom Ward).

IN THE UNITED STATES DISTRICT COURT FOR

THE WESTERN DISTRICT OF OKLAHOMA

UNITED STATES OF AMERICA,

Plaintiff,

vs.

AUBREY K. McCLENDON

Defendant.

I N D I C T M E N T

The Federal Grand Jury charges:

Introduction

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http://www.forbes.com/sites/christopherhelman/2016/03/01/the-federal-indictment-of-aubrey-mcclendon/#7d24c6605143