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Friday, January 21, 2011

Chesapeake CEO McClendon Slams NY & PA

Before going to work each day, I normally just scan the Marcellus-related headlines and print the articles of interest to read on the train. For some reason this morning, I decided to fully explore an article about Marcellus Shale drilling in WV.

About halfway through the article, I stopped at the following comments attributed to Chesapeake's CEO Aubrey McClendon:

"You're just that much farther away from the lunacy of New York City that you're able to think clearly," he said. "Some of your relations in Pennsylvania don't have that ability."

You can read the entire piece here.

So...the folks in NYC are lunatics and we in PA can't think clearly. Really? Hmmm. I wonder if Kathryn Z. Klaber - who wants to drill NY in the worst way - thinks along those same lines? P.S. - aren't the NY decision-makers in Albany?

Anyway...I'm sure the folks at Chesapeake and/or the Marcellus Shale Coalition will attempt to downplay  your comments and/or put their spin doctors to work should the mainstream media take this further. Or maybe someone from within PA's Team Tom-Tom will offer their industry-friendly interpretation?

Aubrey, BABY...I'd strongly recommend that in addition to reading How to Win Friends and Influence People, you issue an immediate apology to the good citizens of NY and PA. And after that - plus fixing the bubbling methane problem in the Susquehanna River caused by your company - I'd offer that you should consider getting out of PA and moving all your folks to WV.

Long term, I'm sure it will prove to be a much more hospitable business climate there. 

"I love NY and the folks in PA are really, really smart!"


  1. The following remark was made by the CEO of Chesapeake Energy, Mr. Aubrey McClendon, at the
    Chesapeake Energy Corporation Institutional Investor and Analyst Meeting
    Wednesday, October 13, 2010 8:00 a.m. CT http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=104617&eventID=3305274

    "I don't like to buy acreage for fair price, I like to go in and put a play together where we put our army of 5,000 landman to work, and we are buying it lease by lease for a very inefficient cost average to the rest of the industry to try and replicate and we make it a transaction where there is not a public market, it's us and the landowner and we're gonna most generally going to get the benefit of that side of the transaction, so think about again, every time we move we are buying acreage worth 5 to 10 times what we pay"

    Aubrey McClendon
    chief executive officer, chairman, and co-founder of Chesapeake Energy

  2. The man's arrogance is stifling. He, too, shall pass.

  3. A few days ago he wooed WVA by telling them his awesome company was going to invest $50 BILLION in their state (over a decade or two) BUT he does not like their court system. I surmise he intends to do something about it! I bet he can:( - he essentially said he is unhappy about having been fined something like $400 million. Again, I can only surmise, but it would appear he probably "did" it. This man is the devil incarnate.