In two press releases Monday, American Energy Partners LP announced agreements to purchase shale acreage in the Utica and Marcellus shale for $1.75 billion, and acreage in the Permian Basin in Texas for $2.5 billion. The deals are expected to close in the next 60 days. American Energy Partners CEO Aubrey McClendon formed the company last year with financial backing from First Reserve Corp. and the son of retired Exxon CEO Lee Raymond. McClendon was ousted from his position as CEO of Chesapeake Energy Corp. last year due to "philosophical differences" with the board of directors. During his tenure at Chesapeake Energy, which he co-founded in 1990, he aggressively built the company's shale portfolio. McClendon has raised $10 billion for American Energy Partners in the last nine months, and is now running five closely held affiliates, each focused on drilling in distinct locations.