American Energy Partners To Shut Down


Wednesday, May 18th 2016, 9:40 pm
By: News 9


American Energy Partners, LP, will be shutting down in the coming months, according to a statement from American Energy's leadership.

The statement was released after multiple news sources reported the company's shut down and layoffs. 

Ascent Resources, LLC, White Star Energy, LLC, Permian Resources, LLC, Traverse Midstream, LLC, and Heritage Resources Management, LLC, will not be affected. 

The statement said: 

After considerable thought and discussion with Aubrey McClendon’s family, and our employees, we have made a collective decision to wind down the operations of American Energy Partners, LP (AELP). Aubrey’s vision was to incubate independent, stand-alone companies from this platform and we have achieved the successful launch of five independent oil and gas companies (consolidated from seven startups) which employ hundreds of Oklahomans. These companies, Ascent Resources, LLC, White Star Energy, LLC, Permian Resources, LLC, Traverse Midstream, LLC, and Heritage Resources Management, LLC, each have a bright future and will not be affected at all by this decision.

"We are proud to have had the opportunity to work with Aubrey. Through his strategic vision and tireless efforts along with the most dedicated employees in the industry, the numerous businesses we founded together have shown tremendous resiliency in the face of the historically difficult industry environment. Aubrey’s legacy will be carried forward by each of these businesses as they continue to grow, by the numerous landmarks all over our city in which he had a hand in developing and by the many philanthropic organizations to which Aubrey gave generously. We owe a debt of gratitude to each of our hard-working employees and most importantly to our founder, friend and mentor, Aubrey K McClendon.

Stay with News 9 and News9.com for more information as it becomes available.