Business
American Energy Enters into O&G Services LOI
American Energy Enters into O&G Services LOI.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n\n Allentown, Pennsylvania, Jan. 04, 2018 (GLOBE NEWSWIRE) -- American Energy Enters into O&G Services LOI   \n Allentown, Pennsylvania. January 4, 2018 – American Energy Partners, Inc. (OTC: AEPT) (the “Company”, “American Energy” or “AEPT”), a diversified energy company, today announces that it has entered into a letter of intent to fully acquire  a growing industrial painting, pressure testing and roustabout company that currently serves the Marcellus and Utica Shale region throughout Pennsylvania, West Virginia and Ohio.  Most importantly to AEPT, the company has a perfect safety and environmental compliance record under the current management. American Energy’s COO, Mr. Hickman states “The company’s service foot print and spotless reputation make them a natural fit for our family of subsidiaries.  Without additional growth, the company is successful and cash positive.  However, as per American Energy’s growth through complimentary income streams strategy, we look forward to putting additional crews to work in our various areas of business interest.” Highlights of the deal include: Annualized Revenue of $1.5M$500K of EBITDAROI Above 20%Current Management to Stay in Place The deal is scheduled to close by the end of the first quarter and will be accretive to 2018 earnings. American Energy Partners, Inc. (AEPT) AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology.  Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.Hydration Corporation of PA, LLC (“HCPA”) is engaged in the businesses of water exploration, water augmentation, and the treatment of impacted waters. Notably, its intellectual property delivers one of the highest energy yields from a broad range of water-bearing assets, with one of the lowest capital expenditures of any other known water processes. American Energy Solutions, LLC provides treatment technologies that contribute to HCPA’s business model of low-cost treatment and distribution. As a provider of design, this subsidiary is capable of repeatable and syne...