Aubrey McClendon Indicted

[Conan71]

Former CEO and founder of Chesapeake Energy, Aubrey McClendon got slapped with a federal indictment yesterday for collusion and bid rigging on oil and gas leases.  This apparently took place with an unnamed OKC firm and no indictment has been handed down naming anyone else at this point.

http://www.nytimes.com/2016/03/02/business/aubrey-mcclendon-is-charged-with-conspiracy-in-oil-and-natural-gas-bidding.html?_r=0

Text of the indictment is provided in this article:

http://www.forbes.com/sites/christopherhelman/2016/03/01/the-federal-indictment-of-aubrey-mcclendon/#1431d0515143

[Conan71]

Aubrey McClendon has been found dead after a single vehicle crash in OKC this morning.  He was to appear before a judge today regarding the indictment handed down yesterday.

Oklahoma City police tweeted that the victim of a fatal single-vehicle wreck this morning was embattled oilman Aubrey McClendon.

Oklahoma City firefighters said earlier Wednesday that one person was found dead in a burned vehicle that had crashed on the city's northeast side.

District Fire Chief Benny Fulkerson said the person's body was found in the vehicle about 9 a.m. Wednesday after it crashed into a bridge.

McClendon, 56, was indicted yesterday by a federal grand jury in Oklahoma City on charges of conspiring to rig bids on oil and gas leases.
He was founder and CEO of Chesapeake Energy; he left the company in 2013 following a shareholder revolt.

http://www.tulsaworld.com/news/headlines/okc-police-embattled-oilman-aubrey-mcclendon-dies-in-single-vehicle/article_731f6017-0f7c-53c9-9a62-9dad73f0362f.html

[Hoss]

Aubrey McClendon has been found dead after a single vehicle crash in OKC this morning.  He was to appear before a judge today regarding the indictment handed down yesterday.

http://www.tulsaworld.com/news/headlines/okc-police-embattled-oilman-aubrey-mcclendon-dies-in-single-vehicle/article_731f6017-0f7c-53c9-9a62-9dad73f0362f.html

Hmm.  Suicide maybe?

[Conan71]

Hmm.  Suicide maybe?

Hate to speculate but high rate of speed and an abrupt left turn into a bridge abutment under I-44 on a fairly desolate stretch of N. Midwest Blvd sounds like a little more than an accident.

He issued a pretty steady denial of the indictment yesterday.  Usually, you'd hear of this happening just prior to sentencing, not prior to a first hearing unless they were planning to take him into custody today.

Meanwhile, CHK stock is up .65 on the day.

[heironymouspasparagus]

Frickin' coward.

[dbacksfan 2.0]

Hmm.  Suicide maybe?

High speed impact, no skid marks, crossed center line, supposedly not wearing a seat belt? Nah, he was trying to text and change the song on his iPod..........

[Townsend]

Frickin' coward.

Or sad/overwhelmed, hopeless...any number of things.

[dbacksfan 2.0]

It does make you wonder who the other big name company co-conspirator is.

[swake]

It does make you wonder who the other big name company co-conspirator is.

The other biggest player in shale is Hamm. Could it be him?

[Conan71]

The other biggest player in shale is Hamm. Could it be him?

Tom Ward and Aubrey started Chesapeake together.  One article I read said Ward was the CEO at Sandridge during that period.

[heironymouspasparagus]

Or sad/overwhelmed, hopeless...any number of things.

Probably.  Maybe I would be sad too if I got caught using my multi-billion dollar multi-national company as my personal "sandbox" and someone told me no, ya can't do that!


Not gonna have to much sympathy for someone who acted the spoiled little rich brat, then didn't stand for the consequences when caught with his hand in the cookie jar!  I have had very few occasions where anyone has cut me any slack for comparatively tiny smaller things, so I gotta go with George Carlin's thought process.   Awww....poor little rich boy doesn't wanna play fair...  Fill in the blank with what Carlin would say.


He is a coward.


Channeling my inner Donald Trump....

[davideinstein]

Did a lot of good and just as much bad. Interesting guy for sure.

[Conan71]

The other biggest player in shale is Hamm. Could it be him?

Tom Ward and Aubrey started Chesapeake together.  One article I read said Ward was the CEO at Sandridge during that period.

Article in Bloomberg this evening claims three different sources who say it's Sand Ridge.

[patric]

Hate to speculate but high rate of speed and an abrupt left turn into a bridge abutment under I-44 on a fairly desolate stretch of N. Midwest Blvd sounds like a little more than an accident.

Silkwooded?

[cannon_fodder]

Bid rigging can't be one sided. But its very nature, that's just not possible. Others are going down old Rt 66 in the near future.