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American Energy Partners, Inc. Signs Definitive Agreement for Acquisition of Oilfield Basics, LLC
American Energy Partners, Inc. Signs Definitive Agreement for Acquisition of Oilfield Basics, LLC.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n ALLENTOWN, PA, Feb. 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, has agreed to acquire 100% of the membership units of Oilfield Basics, LLC (“Oilfield Basics”) in exchange for 1,000,000 shares of American Energy’s common shares equal to less than 1% of American Energy’s outstanding common stock. American Energy reserves the right to repurchase these common shares prior to any other third parties.  The transaction was approved by the Board of Directors after determining, in good faith, that the acquisition is in the best interests of American Energy. The acquisition will immediately contribute to top-line revenue that will be derived from an underserved segment of the oilfield services industry in which American Energy currently does not participate.  The addition of Oilfield Basics to American Energy’s group of subsidiaries expands American Energy’s services to an online educational platform that can derive growth through advertisements, podcasts, videos, and webinars that market to the energy industry. This acquisition represents only one of a series of acquisitions planned for the future. This acquisition is a continuation of American Energy’s buy and build strategy. For additional information, visit: Oilfield Basics, LLC Josh Hickman, COO of American Energy, commented, “The opportunity to acquire Oilfield Basics presented an excellent opportunity for AEPT to increase our footprint in the energy sector. The Company’s core competency is marketing services through educational awareness.  Oilfield Basics is a well-connected thought leader in this area and has just recently completed their 50th podcast.  We at AEPT are looking forward to a great future with the Company.” Derek Krieg, Co-Founder of Oilfield Basics, LLC also commented, “This company started with an entrepreneurial business competition during my time at Marietta College and over the few years it has been running, we have partnered with multiple companies and have created over 100 educational resources for our industry. Now as we join the AEPT family, I am confident that their guidance, network, and expertise will make Oilfield Basics an industry leader in the e...