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Death of a Shale Man: The Final Days of Aubrey McClendon
2016-03-09 10:01:03.0 GMT


By David Wethe
(Bloomberg) -- Aubrey McClendon awoke that Tuesday, as he
had 10,000 times before, ready to work a deal.
McClendon, co-founder of Chesapeake Energy Corp., had
ridden more wild ups and downs in America’s energy patch than
just about anyone. But on March 1, as the world closed in on
him, McClendon had something else on his mind. That morning he
was e-mailing about a riverfront development in his hometown of
Oklahoma City, the place where he’d gambled so much for so long.
The 56-year-old sounded upbeat, optimistic -- he sounded,
in short, like himself.
Twenty-four hours later, he was dead.
By now the world knows the broad outlines. On the morning
of March 2, hours after being accused of rigging bids for oil-
and gas-drilling rights, McClendon slipped away from his
security team and climbed into his 2013 Chevy Tahoe. He sped
north along a lonesome two-lane stretch of Midwest Boulevard,
toward the prairie-scrub city edge, where he drove his SUV into
a wall at high speed.
The news reverberated through Oklahoma City like a
thunderclap. There, and as far away as Riyadh and Caracas,
everyone in the energy game knew the backstory. McClendon, the
man who’d told OPEC to go to hell, had vowed to fight the
indictment. Then this: the tragic end to a life that seemed to
epitomize America’s shale boom -- and its bust.
A week on, with many still struggling to make sense of it
all, the circumstances surrounding McClendon’s death are only
now coming into focus. Police in Oklahoma City say they have yet
to determine if the crash, which involved no other vehicle, was
intentional. Emails McClendon sent to business associates hours
before held no clues, no hints of trouble.
"It is hard for us to comprehend that he is really gone,”
Tom Blalock, an executive at American Energy Partners LP, the
venture McClendon founded after Chesapeake ousted him, told the
some four-thousand people gathered at Crossings Community Church
in Oklahoma City on Monday at a public memorial.
Yet, right to the end, McClendon seemed to be hatching
plans.
That was pure McClendon. His rise and fall was the stuff of
legend. He grew to become a towering figure by building
Chesapeake into a $37.5 billion company, thanks to his
championing of controversial hydraulic fracturing. But the very
gas boom he helped create caused prices to plummet, clipping the
company’s value by more than half and triggering a shareholder
revolt that led to McClendon’s ouster.
He then formed American Energy Partners and raised more
than $10 billion to amass drilling rights from the Appalachian
Mountains to Australia and Argentina. But that business, too,
would soon buckle under the weight of collapsing energy prices.
This is the story of his final days, pieced together from
interviews with people who spent time with McClendon or were in
touch with him during his last week of life. The picture that
emerges is one of a man emboldened and energized -- and eager to
turn a new corner.

<snip>

http://www.bloomberg.com/news/articles/2...-mcclendon
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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Thanks for posting about Aubrey McClendon.

Personally, I prefer to remember him as a charismatic boss, community leader and generous donor.

Remembered for his Humanity
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http://nr.news-republic.com/Web/ArticleW...e=tapatalk

Interesting... Looks like the cost for shale may be lower with the tested limits.

Sent from my 2013023 using Tapatalk
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(14-03-2016, 07:34 AM)sohnoname Wrote: http://nr.news-republic.com/Web/ArticleW...e=tapatalk

Interesting... Looks like the cost for shale may be lower with the tested limits.

Sent from my 2013023 using Tapatalk

I merged the new thread into the old "oil prices" thread, to facilitate reading

Thank you

Regards
Moderator
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Drill Baby Drill!
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As expected Iran obviously refusing to play ball, will be another half year plus at least for them to reach their 4m bpd target, so likely low oil prices until then.

----------------------------------------------

http://www.bloomberg.com/news/articles/2...production

Oil Falls From Three-Month High as Iran Refuses to Join Freeze

Oil dropped from a three-month high as Iran said it would raise output to pre-sanctions levels before joining talks to freeze production.

Futures fell 3.4 percent in New York. Iran plans to raise output by about a third to 4 million barrels a day before it will consider joining any move to rebalance the market, the Iranian Students News Agency reported, citing Oil Minister Bijan Namdar Zanganeh. The Islamic republic boosted production by 187,800 barrels a day in February, the biggest monthly gain since 1997, the Organization of Petroleum Exporting Countries said in a monthly report.
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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The oil price is as volatile as the China stock market indexes... Tongue

Oil rallies to US$41, near 2016 high, on producer meeting

LONDON (March 17): Oil rose above US$41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world's biggest producers to meet next month to discuss supporting the market.

Opec and non-Opec producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.
...
http://www.theedgemarkets.com/sg/article...er-meeting
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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(17-03-2016, 08:57 PM)CityFarmer Wrote: The oil price is as volatile as the China stock market indexes... Tongue

Oil rallies to US$41, near 2016 high, on producer meeting

LONDON (March 17): Oil rose above US$41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world's biggest producers to meet next month to discuss supporting the market.

Opec and non-Opec producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.
...
http://www.theedgemarkets.com/sg/article...er-meeting

I wonder if on April 17 they decide not to freeze as Iran is pumping too much and everyone just continue pumping as usual what will happen to oil price, probably sudden dive to $20 in a week.
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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(18-03-2016, 12:34 PM)BlueKelah Wrote:
(17-03-2016, 08:57 PM)CityFarmer Wrote: The oil price is as volatile as the China stock market indexes... Tongue

Oil rallies to US$41, near 2016 high, on producer meeting

LONDON (March 17): Oil rose above US$41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world's biggest producers to meet next month to discuss supporting the market.

Opec and non-Opec producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.
...
http://www.theedgemarkets.com/sg/article...er-meeting

I wonder if on April 17 they decide not to freeze as Iran is pumping too much and everyone just continue pumping as usual what will happen to oil price, probably sudden dive to $20 in a week.

Don't understand how they can afford not to pump. They are already trying to borrow money today. Can we imagine zero revenue ?

Just my Diary
corylogics.blogspot.com/


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(18-03-2016, 02:05 PM)corydorus Wrote:
(18-03-2016, 12:34 PM)BlueKelah Wrote:
(17-03-2016, 08:57 PM)CityFarmer Wrote: The oil price is as volatile as the China stock market indexes... Tongue

Oil rallies to US$41, near 2016 high, on producer meeting

LONDON (March 17): Oil rose above US$41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world's biggest producers to meet next month to discuss supporting the market.

Opec and non-Opec producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.
...
http://www.theedgemarkets.com/sg/article...er-meeting

I wonder if on April 17 they decide not to freeze as Iran is pumping too much and everyone just continue pumping as usual what will happen to oil price, probably sudden dive to $20 in a week.

Don't understand how they can afford not to pump. They are already trying to borrow money today. Can we imagine zero revenue ?


The proposed agreement is to try to cap production at January levels, not stop all crude production.

Now, January production is already at very high levels, so it does look a bit like calling for a ceasefire when you've run out of bullets.
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