Business

Oil and gas company founded by Aubrey McClendon to close

Posted May 18, 2016 7:00 am

The Associated Press

OKLAHOMA CITY (AP) - American Energy Partners, the Oklahoma City-based oil and natural gas company founded by the late energy tycoon Aubrey McClendon, is shutting down.

The company's leadership team released a statement Wednesday saying it had decided to wind down operations but the five independent companies it had launched wouldn't be affected.

McClendon co-founded Chesapeake Energy and served as its CEO before stepping down in 2013 and founding American Energy Partners. He died in a fiery car crash in March, a day after being indicted on a bid-rigging charge. Police at the time declined to say whether they thought McClendon meant to crash.

The statement says the decision to close was made in consultation with McClendon's family.

The company couldn't immediately be reached by The Associated Press for further comment.

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