Business
Gilbert O&G Company, LLC Closes O&G Purchase
Gilbert O&G Company, LLC Closes O&G Purchase.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n\n\n\nGilbert O&G Company, LLC Closes O&G Purchase\n\n\n\n\n\nGilbert O&G Company, LLC Closes O&G Purchase\nPR Newswire\nALLENTOWN, Pennsylvania, October 17, 2017\n\n\n\nALLENTOWN, Pennsylvania, October 17, 2017 /PRNewswire/ --\n\nAmerican Energy Partners, Inc. (OTC: AEPT) (the \"Company\", \"American Energy\" or \"AEPT\"), a diversified energy company, today announces that its wholly owned subsidiary Gilbert O&G Company, LLC (\"Gilbert\") has closed on the multi well package of producing gas and oil assets as well as an interest in significant unleased mineral acres in the Tier I area of the wet Marcellus and dry Utica Shale from a single undisclosed seller.\n\n\"We are very pleased at the speed in which this deal came together and we are even more satisfied with the quality of cash flow assets that were purchased,\" states American Energy Partner's Chairman and CEO, Brad Domitrovitsch.\n\n\"Gilbert is comfortable with the growth opportunity in our company that these assets represent.  We will continue to look for assets similar to these with good cash flow and upside\" says Josh Hickman, President of Gilbert Oil & Gas Company.  \n\nThe deal will be accretive to fourth quarter earnings.\n\nAmerican Energy Partners, Inc. (AEPT) \n\n\nAEPT 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.\n\nHydration Corporation of PA, LLC (\"HCPA\") is engaged in the businesses of water exploration, water augmentation, and the treatment of impacted waters. Notably, its intellectual property delivers one of the highest energy yields from a broad range of water-bearing assets, with one of the lowest capital expenditures of any other known water processes. American Energy Solutions, LLC provides treatment technologies that contribute to HCPA's business model of low-cost treatment and distribution. As a provider of design, this subsidiary is capable of repeatable and synergistic services across the value chain. Gilbert Oil & Gas Company is leveraging broad industry valuation experience to source drilling, operating, and part...