American Energy Partners has agreed to pay more than $10.8 million to acquire the stock and units of three oil and gas operators in Western Pennsylvania and West Virginia.
The deal includes 695 acres of 100 percent–owned surface and oil and gas rights and will be funded with a mix of debt and equity.
“This transaction furthers our commitment to acquiring steady cash-flowing businesses while enhancing our ability to develop alternative green energy opportunities with the vast amount of acreage included in the package,” said Brad Domitrovitsch, CEO of American Energy.
The transaction is expected to close on July 1, subject to closing conditions.
