Will Wall Street Love Fracking as Oil Prices Fall?
In a ballroom at the Dallas Ritz-Carlton in September, Aubrey McClendon told an investor conference that since leaving Chesapeake Energy last year to start his own company, American Energy Partners, he’s raised an average of $1.6 million an hour. Laughter swept the crowd. McClendon then put up a slide covered with the logos of Wall Street backers that have collectively handed his outfit $13 billion. Among them: KKR, BlackRock, and Apollo Global Management. “Everybody here knows that capital is more easily accessed today than probably at any other point in your careers,” McClendon said.
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