ALLENTOWN, Pa., Jan. 26, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- American 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 has completed the acquisition of a small package of conventional oil and gas wells from an unnamed seller.
American Energy’s COO, Mr. Josh Hickman states, “The acquisition is synergistic with our previous purchase and continues our goal of consolidating oil and gas holdings of wells, leases and mineral rights in the prolific Appalachian Basin.” Mr. Hickman went on to reiterate that the wells are of good quality and expected to be a source of positive cash flow to the company for years to come.
Mr. Hickman also notes that since the acquisition of the original set of wells, an aggressive optimization program has resulted in an increase in production which he believes will drive revenues higher than expected for the Company.
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 government sectors.
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Source:American Energy Partners, Inc.