Wednesday, August 28, 2013

Larchmont and Chesapeake

I've been asked about letters some people have received recently from Chesapeake Energy to assign a partial interest to Larchmont Resources, LLC.  Larchmont, along with Jamestown Resources, LLC and Arcadia Resources, LP are owned by former CEO Aubrey McClendon and house his 2.5% interest in all wells Chesapeake drills through mid-2014, a super cool perk called the Founder's Well Participation Program.  The infamous FWPP and all of its related financing deals brought lots of pressure on McClendon because of perceived conflicts of interest.  Here is an article from a few months ago that explains it all.

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