MDN previously highlighted news from a relatively new company called American Energy Partners, Inc., based in Allentown, PA, and their subsidiary company Gilbert Oil & Gas (see our AEP stories here). The name is always jarring when we see it, because Aubrey McClendon’s second act after getting ejected from Chesapeake Energy was to found and run a company called American Energy Partners. However, Aubrey’s company was an LLC, and this one is an Inc.–same name but different forms of business entity. Still, we wonder how AEP Inc. has been able to avoid getting sued by the McClendon estate over their use of the name. But we digress. Thus far we’ve seen a lot of press releases (i.e. “smoke”) from AEP. Who are these guys and are they a serious company? Has there been any “fire” to accompany the smoke? We have to say yes, they are serious and yes, there has been at least some red embers burning. In October we reported that AEP’s drilling subsidiary Gilbert Oil & Gas had closed on a deal giving them 12 wells and 1,100 Marcellus acres in Washington County, PA (see American Energy Closes on “Tier I” Assets – Exclusive Details). Hey, it’s a beginning! The company is small and young, but with a determined team. Recently AEP added a new member to the team (a graduate of West Point AND the U.S. Army War College, as well as being a former PA State Senator) as Chief Strategy Officer. Here’s more information about AEP, a company to keep an eye on in 2018…
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Category: American Energy Partners Inc.
American Energy Closes on “Tier I” Assets – Exclusive Details
Last week MDN brought you news about a relatively new company called American Energy Partners, Inc., based in Allentown, PA, and their subsidiary company Gilbert Oil & Gas (see American Energy Partners Invests in “Tier I” Marcellus Assets). AEP and subsidiary Gilbert said last week they had cut a deal to buy some “Tier I” assets in the Marcellus. However, there were no specifics. Yesterday AEP and Gilbert issued a new press release (below) to say the deal is now completed and they now own those Tier I assets. Again, no specifics. So MDN reached out to AEP to ask for further details. We got a response–which still does not name the seller, but does tell us how many Marcellus wells they bought, how much acreage is part of the deal, and in which Marcellus Shale county the assets are located. As far as we know, this is exclusive–nobody else has this information. We also have a thought on who the seller may be…
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American Energy Partners Subsidiary Buys 30% Share of Plugging Co.
Earlier this week MDN told you of the curious case of American Energy Partners, Inc.–a company headquartered in Allentown, PA that appears to have nothing to do with Aubrey McClendon’s now-closed American Energy Partners (see American Energy Partners Invests in “Tier I” Marcellus Assets). We highlighted a press release from the enigmatic AEP announcing investments in “Tier I” Marcellus assets (although no specifics were revealed). We received a note from AEP following that story to say another press release would follow, yesterday. And indeed it did. AEP announced yesterday that its drilling subsidiary, called Gilbert Oil & Gas Company, has just invested in a plugging & abandonment company focused on the Marcellus/Utica. Once again there were no specifics, other than Gilbert now owns 30% of the unnamed plugging company. Here’s the press release…
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American Energy Partners Invests in “Tier I” Marcellus Assets
This story is a tangled web we’re having trouble unraveling. We’re hoping some astute MDN readers can shed some light for us. A few days ago we noticed a press release from American Energy Partners, Inc., with a subsidiary company called Gilbert Oil & Gas, claiming to have invested in some “Tier I” Marcellus and Utica Shale gas and oil wells, as well as undeveloped acreage in the region. Wait right there. Isn’t American Energy Partners (AEP) the company founded by Aubrey McClendon after he was tossed out of Chesapeake Energy? AEP announced last year, following the death of McClendon, they were closing the doors (see McClendon’s American Energy Partners Shutting Down This Summer). Did someone buy the name or the remains of the company and reopen it? We started teasing on those threads and here’s what we’ve been able to find…
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