Sable Permian and Slice of McClendon Empire File Bankruptcy (1)

Sable Permian Resources LLC, the oil and gas explorer that merged with part of the late shale pioneer Aubrey McClendon’s shale empire last year, filed for bankruptcy in Houston alongside affiliates.

The company listed at least $1 billion of assets and liabilities each in its Chapter 11 petition in the Southern District of Texas. Assets of Sable and affiliates include those of American Energy - Permian Basin, a chunk of the sprawling energy business McClendon built after his ouster from Chesapeake Energy Corp.

McClendon, who died in a one-car crash in 2016, formed American Energy about three ...