Business
American Energy Signs Agreement to Acquire Energy Services Company
American Energy Signs Agreement to Acquire Energy Services Company.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n ALLENTOWN, Pennsylvania, July 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, is pleased to announce it has agreed to acquire (the “Acquisition”) a privately held energy services company (“Company”) operating in the OH, PA and WV region.  The Company focuses on reducing customers' environmental footprint through the decommissioning, abandonment and reclamation services of oil and gas assets. The Acquisition is expected to increase American Energy’s annualized revenue by over three (3) million dollars. American Energy’s fiscal year 2022 consolidated revenue is forecasted to top five (5) million dollars. Total consideration for the Acquisition will be funded through a combination of cash and conventional debt. American Energy’s CEO Brad Domitrovitsch stated, “Today’s announcement shows our commitment to company growth and increasing shareholder value. In addition, this acquisition demonstrates American Energy’s assurance and contribution to a clean energy transition, with our focus on energy services that promote sustainability and environmental, social, and governance (ESG) best practices.” The transaction is expected to close on October 1, 2021, subject to customary closing conditions. American Energy Partners, Inc. (AEPT) American Energy Partners, Inc. is a diversified energy company. Through its various subsidiaries, the Company engages in water treatment and distribution, oil and natural gas production, geotechnical consulting services, and energy education. For additional information, visit: American Energy Partners, Inc. Safe Harbor This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,R...