Photo: The Lost Ogle
Today’s newsmaker is Aubrey McClendon, CEO of Chesapeake Energy.Reuters’ investigative reporters Anna Driver and Brian Grow say McClendon is borrowing massive loans from a company that also lends to Chesapeake, and using personal stakes in well profits as collateral.
McClendon founded Chesapeake in 1989 after a career in land leasing.
His background helped launch Chesapeake into the stratosphere as the energy industry began shifting resources to recovering shale deposits.
Natural gas, of course, is now the hottest thing on the planet (although it is now so abundant that it’s practically free, and Chesapeake is again shifting emphasis, this time to liquids).
We wanted to know more about the life led by the head of the country’s second-largest natural gas producer.
Let’s just say we’re a bit envious.
McClendon was voted senior class president and was valedictorian of the Heritage Hall school in Oklahoma CIty.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.