Business
American Energy Signs Binding Term Sheet to Acquire Oil & Gas Services Company and Producer
American Energy Signs Binding Term Sheet to Acquire Oil & Gas Services Company and Producer.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n ALLENTOWN, Pennsylvania, Oct. 21, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, is pleased to announce that as of October 13th, a binding term sheet was signed with a leading Oil & Gas Production & Services Company for acquisition. This acquisition is expected to be completed before the calendar year end and will be accretive to 2021 Q1 financials. Along with over 230 proven, producing and developed natural gas wells and an option for 250 additional PPD wells, we believe the combined target will add over $1,000,000 in top-line revenue in 2021. Additionally, the acquisition includes a fund established for future reclamation and abandonment of oil & gas impacted land. It is understood by both parties that time is of the essence. Therefore, this term sheet shall be an agreement among the parties to negotiate in good faith to reach an agreement consistent with the terms set forth herein or as the parties may otherwise agree. Time shall be of the essence as to all deadlines set forth herein. 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,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of ...