{"id":6416,"date":"2012-05-09T10:08:58","date_gmt":"2012-05-09T15:08:58","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=6416"},"modified":"2012-05-09T10:08:58","modified_gmt":"2012-05-09T15:08:58","slug":"another-big-loan-for-chesapeake-ceo-aubrey-mcclendon","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2012\/05\/09\/another-big-loan-for-chesapeake-ceo-aubrey-mcclendon\/","title":{"rendered":"Another Big Loan for Chesapeake CEO Aubrey McClendon"},"content":{"rendered":"<div id=\"attachment_5433\"  class=\"wp-caption module image left\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"Chesapeake Energy CEO Aubrey McClendon and Oklahoma City Thunder owner Clay Bennet chat during an Oklahoma City Thunder game.\" href=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2012\/03\/aubrey-mcclendon.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-5433\" title=\"Aubrey McClendon\" src=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2012\/03\/aubrey-mcclendon.jpg\" alt=\"\" width=\"300\" height=\"249\" srcset=\"https:\/\/stateimpact.npr.org\/oklahoma\/files\/2012\/03\/aubrey-mcclendon.jpg 300w, https:\/\/stateimpact.npr.org\/oklahoma\/files\/2012\/03\/aubrey-mcclendon-150x125.jpg 150w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p class=\"wp-media-credit\">Brett Deering \/ Getty Images<\/p>\n<p class=\"wp-caption-text\">Chesapeake Energy CEO Aubrey McClendon and Oklahoma City Thunder owner Clay Bennett chat during an Oklahoma City Thunder game.<\/p>\n<\/div><p>Chesapeake CEO Aubrey McClendon arranged a $450 million loan from an investment-management firm just weeks before he was stripped of his chairmanship, Reuters reports.<\/p><p>The loan came from EIG Energy Partners, which was simultaneously helping the Oklahoma City natural gas giant secure $1.25 billion in financing.<\/p><p>An unnamed source <a href=\"http:\/\/www.reuters.com\/article\/2012\/05\/09\/us-eig-chesapeake-mcclendon-idUSBRE8471H020120509\">tells<\/a> Reuters:<\/p>\n<blockquote><p>It was secured by McClendon&#8217;s personal stakes in wells that have yet to be drilled by Chesapeake &#8211; and by his own life-insurance policy.<\/p><\/blockquote><p><!--more-->News<a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2012\/04\/18\/reuters-chesapeakes-aubrey-mcclendon-took-1-1b-in-shrouded-personal-loans\/\"> broke<\/a> last month that McClendon had used his well interests \u2014 which he received through a controversial CEO perk \u2014 to borrow up to $1.1 billion in personal loans. EIG provided most of those loans, Reuters reports.<\/p><p>Neither McClendon, Chesapeake nor EIG would comment to the news service\u2019s Jennifer Ablan.<\/p><p>Reuters recently reported that McClendon was running a $200 million hedge fund that traded the same commodities produced by Chesapeake. The hedge fund operated for years out of Chesapeake\u2019s Oklahoma City headquarters, according to the <a href=\"http:\/\/www.reuters.com\/article\/2012\/05\/02\/us-chesapeake-mcclendon-hedge-idUSBRE8410GG20120502\">report<\/a>.<\/p><p>Analysts have raised questions about conflicts of interest and concerns about EIG financing both Chesapeake and its CEO. The investment-management firm has <a href=\"http:\/\/www.reuters.com\/article\/2012\/04\/26\/us-eig-chesapeake-mcclendon-idUSBRE83P1JS20120426\">defended<\/a> its role.<\/p>\n<blockquote><p>In an April 23 letter to investors in two of EIG&#8217;s investment funds, EIG chief executive officer R. Blair Thomas said it is &#8220;simply untrue&#8221; that there was any conflict of interest in its loans to McClendon and dealings with Chesapeake, Reuters reports.<\/p><p>&#8220;The crux of the story as it relates to EIG seems to be that we got too good a deal for our investors.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Chesapeake CEO Aubrey McClendon arranged a $450 million loan from an investment-management firm just weeks before he was stripped of his chairmanship, Reuters reports.The loan came from EIG Energy Partners, which was simultaneously helping the Oklahoma City natural gas giant secure $1.25 billion in financing.An unnamed source tells Reuters: It was secured by McClendon&#8217;s personal [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[301],"tags":[360,275],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/6416"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/comments?post=6416"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/6416\/revisions"}],"predecessor-version":[{"id":6420,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/6416\/revisions\/6420"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media?parent=6416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/categories?post=6416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/tags?post=6416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}