In case I haven't made it clear I regard Aubrey McClendon as the most savvy man in the oil business. In a previous post I ranked him with the legends of the industry, men such as Sid Richardson, Armand Hammer, and T. Boone Pickens. In that post I also pointed out that he has tolerance for risk that would leave the rest of us wetting the bed. He founded and ran Chesapeake Energy until, like Steve Jobs, his vision for the future of the company scared the bejabbers out of board of directors and he was forced out.
It should come as no surprise that McClendon's new company, American Energy Partner LP, has amassed an industry-leading 260,000 net acres in the southern Utica Shale. Last week the company announced it had acquired an additional 130,000 acres from Hess Corp., Exxon Mobil Corp. and Paloma Partners LLC, bringing its Utica acreage to 260,000. McClendon plans to drill 2,700 gross wells and 1600 net wells over the the next decade. Go big or go home!