The former CEO of shale gas pioneer Chesapeake Energy was killed in a car crash in Oklahoma Wednesday, one day after he was indicted on federal charges of conspiring to rig the federal bidding process for oil and natural gas leases.
Aubrey McClendon’s Chevy Tahoe was traveling at a high rate of speed, hit an embankment wall and was immediately engulfed in flames, said Oklahoma City Police Capt. Paco Balderrama Wednesday afternoon. Photos of the crash do not show skid marks. And the sport-utility vehicle was “so badly burned” that police were unable to tell if he was wearing his seat belt.
McClendon was indicted Tuesday on charges that he had conspired to rig oil and natural gas leases while leading Chesapeake Energy, a pioneer in hydraulic fracking, or fracking, which has led the U.S. to become the world’s top producer of natural gas. The Justice Department said in documents Tuesday that the conspiracy, in which Chesapeake and another company agreed to not work against each other while bidding for the leases, occurred between 2007 and 2012. He left the company under pressure in 2013.
McClendon on Tuesday denied the charges. “Anyone who knows me, my business record and the industry in which I have worked for 35 years, knows that I could not be guilty of violating any antitrust laws.”
After leaving Chesapeake Energy, McClendon formed American Energy Partners. He also was a part-owner of the Oklahoma City Thunder NBA team.
The mayor of Oklahoma City, where McClendon lived, said the former natural gas CEO will not be forgotten.
“We will always appreciate and remember Aubrey’s generosity and civic pride in our community – from his support of countless local charities to the Oklahoma City Thunder to the Boy’s and Girl’s Club of OKC to the arts,” said Oklahoma City Mayor Mick Cornett.
“His philanthropic investments in local schools and universities, the Boathouse District and throughout our city consistently raised the standards of what Oklahoma City could be.” Cornett added.
Another energy industry magnate, T. Boone Pickens, said McClendon “was a major player in leading the stunning energy renaissance in America.”
“He was charismatic and a true American entrepreneur,” Pickens said. “No individual is without flaws, but his impact on American energy will be long-lasting.”
A Chesapeake Energy statement said it “is deeply saddened by the news that we have heard today and our thoughts and prayers are with the McClendon family during this difficult time.”
