Business
American Energy Provides Q3 & Year End Guidance
American Energy Provides Q3 & Year End Guidance.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n ALLENTOWN, PA, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, has provided an update on its performance for the second half of 2019. “The 2H guidance and our confidence in our long-term growth is based on the continued execution of our strategic goals,” said Brad Domitrovitsch, CEO of American Energy. “We believe our service business lines will be the primary driver of growth by means of our buy and build strategy, as well as an increasing customer base through our business development efforts.” Since its acquisition of Hickman Geological Consulting, LLC in July of Q3, (“HGC”) American Energy is anticipating third quarter revenue to grow to $85,000. Year over year topline revenue continues to expand at a significant rate relative to past years, and the Company believes this trend will continue for the foreseeable future as planned cash accretive acquisitions are completed and those businesses come under the American Energy umbrella. Josh Hickman, COO of American Energy, states, “HGC has had continued growth in the third quarter since the Company’s acquisition by AEPT. HGC has seen an increase in expert witness projects, oil and gas valuations, mineral rights sales and investment project review, which has more than offset a slight contraction in revenue from geotechnical projects.” In regards to Gilbert Oil & Gas, LLC, (“Gilbert”) Mr. Hickman said, “In the third quarter Gilbert invested in the maintenance of our oil and gas wells to increase production in anticipation of higher gas prices in the fourth quarter.  These efforts significantly increased production volumes from the prior quarter.” The Company forecasts fiscal year revenue of no less than $200,000 compared to FY2018 revenue of $96,261. This anticipated increase marks over 100% year over year growth in annual revenue. 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...