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Former Chesapeake Energy CEO Taking His Act to Australia

After co-founder and former chairman of Chesapeake Energy Corp. (CHK), Aubrey McClendon, was replaced in April 2013, he didn’t waste any time moving on. Just a few weeks later he was back, leading another energy exploration and production company, American Energy Partners.

McClendon’s new company has just signed a letter of intent and a three-month exclusivity agreement with Brisbane, Australia-based Armour Energy to acquire a 75% working interest in 21.5 million acres of drilling rights in the Northern Territory’s...