October 11, 2017 - 8:30 AM EDT
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Gilbert O&G Company, LLC Enters into Plugging & Abandonment Purchase Agreement

ALLENTOWN, Pennsylvania, October 11, 2017 /PRNewswire/ --

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 ("Gilbert") has entered into an agreement to purchase up to a 30% equity position in a plugging & abandonment company with its current market focus in Ohio, Pennsylvania and West Virginia.

"We continue to source opportunities that drive revenues inside American Energy. This investment is a continuation of our diversified energy model," states American Energy Partner's Chairman and CEO, Brad Domitrovitsch.

Plugging and abandoning ("P&A") an oil or gas well creates a permanent barrier between the previously producing formation and any coals, fresh water strata or the surface.  There are a number of ways in which the permanent barrier can be created.  The most common is to place a cement plug for many hundreds, if not thousands, of feet inside the wellbore over the top of the producing formation.

"AEPT is investing in a cash positive growth company that intends to vertically integrate the oil and gas mortuary services market in one of the largest oil and gas regions in the country.  This will position the company for significant growth as the plugging and abandonment market continues to expand due to increases in regulations" says Josh Hickman, President of Gilbert Oil & Gas Company.  

The deal is scheduled to close in the second half of the fourth quarter and will be accretive to 2018 earnings.

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.

Hydration 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 partnership opportunities in the upstream oil and gas space. It is positioned to become a strong customer of AEPT's other subsidiaries while providing them with the foundation to attract other customers and enter new markets.

For additional information, visit: http://americanenergy-inc.com

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 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT's expectations and estimates.

Company Contact:                    
Website: http://americanenergy-inc.com  
Phone: +1-610-217-3275
Email: [email protected]

SOURCE American Energy Partners, Inc.

Source: PR Newswire (October 11, 2017 - 8:30 AM EDT)

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