Business
Gilbert O&G Company, LLC Enters Into O&G Purchase Agreement
Gilbert O&G Company, LLC Enters Into O&G Purchase Agreement.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n\n\n\nGilbert O&G Company, LLC Enters Into O&G Purchase Agreement\n\n\n\n\n\nGilbert O&G Company, LLC Enters Into O&G Purchase Agreement\nPR Newswire\nALLENTOWN, Pennsylvania, October 6, 2017\n\n\n\nALLENTOWN, Pennsylvania, October 6, 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 entered into an agreement to purchase a 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 enthusiastic about closing our first energy deal as a publicly traded company. We believe this entry can give the markets the confidence it needs in our management's ability to source and close deals that produce cash flow,\" states American Energy Partners' Chairman and CEO, Brad Domitrovitsch.\n\n\"This acquisition is a perfect example of the execution of Gilbert's model of acquiring energy assets with multiple cash flow opportunities. Also, these and future assets of this type provide key assets into our cash positive business loop of AEPT backed services,\" says Josh Hickman, President of Gilbert Oil & Gas Company.  \n\nThe deal is scheduled to close in the first half of the fourth quarter and 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 lo...