American Energy Partners, LP laid off almost half of its Oklahoma City workforce as company officials announced that they would wind down business operations over the course of the next few months, according to a report published late Wednesday by The Oklahoman.
“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,” said the company’s leadership in a prepared statement.
“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.”
The statement was attributed to Chief Financial Officer Scott R. Mueller, Chief Investment Officer Ryan A. Turner and Chief Legal Officer Tom J. Blalock, according to The Oklahoman.
The shale company was founded in 2013 by the late Aubrey McClendon following his bitter departure from Oklahoma City-based Chesapeake Energy Corporation. Since McClendon’s untimely death in March, American Energy Partner’s executive team trio of Mueller, Turner and Blalock has assumed the corporate leadership reins.