Chesapeake, McClendon endure rocky year; more uncertainty ahead

The stock price of his energy company is down nearly 30 percent. The board stripped him of his chairmanship amid scandal. Today, his estimated billion-dollar personal fortune has shrunk by more than half.

Aubrey McClendon, 53, endured a trying year running the second-largest natural gas producer in the United States, Chesapeake Energy Corp. But as corporate, state and federal probes into McClendon and the company continue, 2013 isn't looking much easier.

Facing a cash crunch, the natural-gas giant that McClendon founded had been counting on profits from land that was leased in Colorado, North Dakota and Wyoming. The deals, however, have soured - at a cost to Chesapeake of more than a billion dollars, the company told investors in November.

Read Full Article from Reuters

- Posted: 2012-12-27 16:48:41

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