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American Energy Partners, Inc. Issues Update on Acquired Entity Hickman Geological Consulting’s Projects and Performance -- 100% Average Increase in Top-Line Revenue
American Energy Partners, Inc. Issues Update on Acquired Entity Hickman Geological Consulting’s Projects and Performance -- 100% Average Increase in Top-Line Revenue.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n ALLENTOWN, Pennsylvania, Feb. 19, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, issues an update on the recently acquired geological services company, Hickman Geological Consulting, LLC (“HGC”). Since 2018, Hickman Geological Consulting, LLC has served geotechnical clients in the Greater Pittsburgh region through project management of landslide remediation and expert witness services for lawsuits. While 2019 brought steady geotechnical work, 2020 has seen a significant increase in both the client base for these services and associated revenues. We have seen a 100% average increase in HGC’s monthly revenues since the acquisition of this entity. The Company is pleased to announce that two additional geotechnical projects related to the remediation of active landslides have been awarded and will start in the spring.  These projects will have a significant, positive impact on the revenue of HGC for 2020.  An increase in engaged expert witness projects has also been noted that will lead to revenue generation during litigations. Brad Domitrovitsch, Chairman & CEO of American Energy Partners, Inc., spoke on the subject, “We are pleased with the growth in Hickman Geological’s geotechnical projects.” Reflecting on the acquisition, he went on to say, “When the Company was purchased this was the smaller of the revenue centers and it has grown, as we projected, to be equal with that of the oil and gas valuation services.” The growth in service sectors referenced above is projected to drive a significant increase in HGC’s top-line revenue, well beyond the $30,000 per month average the Company had generated in 2019. For additional information, visit: Hickman Geological Consulting, LLC 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. For additional information, visit: American Energy Partners, Inc. Safe Harbor This press release con...