American Energy Expanding Oily West Texas Permian Basin Assets

摘要

American Energy, Aubrey McClendon's new company, is buying 14,000 acres in Reagan County,~Texas, from Tall City Exploration for $440 million. The properties involved are producing 1,400 barrels of oil equivalent per day. The deal is expected to close by the end of the year, doubling McClendon's assets in West Texas to 28,000 acres. American Energy also said it is not pulling back on drilling in the face of soft market prices, but will increase the number of its active rigs from five to 12 by the end of 2015.