Aubrey McClendon Seeks Another $2 Billion for Wildcatting

Aubrey McClendon, the shale wildcatter who’s raised $1 million an hour since getting fired from Chesapeake Energy Corp. (CHK) last year, is seeking another $2 billion for oil drilling.

Energy 11 LP plans to offer 95 million common units for $20 each and 5.26 million units for $19, according to a prospectus the Fort Worth, Texas-based partnership filed today. The units will not trade on any public exchange. A subsidiary of McClendon’s American Energy Partners LP will manage all aspects of Energy 11’s business, the filing said.

Energy 11 plans to acquire interests in U.S. oil and natural gas fields, according to the filing. The entity is a so-called blind pool investment, a speculative vehicle with no assets or profits that gives investors a chance to help bankroll oil and gas wells.

The offering will terminate when all the units are sold or on Sept. 30, 2016, whichever comes first. This is the second blind pool McClendon has been associated with since he was fired from Chesapeake amid a shareholder revolt; American Energy Capital Partners LP announced plans to raise $2 billion in December.

To contact the reporter on this story: Joe Carroll in Chicago at jcarroll8@bloomberg.net

To contact the editors responsible for this story: Susan Warren at susanwarren@bloomberg.net Will Wade, Robin Saponar

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