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Friday, December 19, 2014

Aubrey McClendon's AEP Acquires 2 of the Top 10 Gas Wells in Ohio in $475 Million Deal

From Columbus Business First:
American Energy Partners LP has acquired HG Energy LLC's Ohio acreage, giving the company ownership of two of the top 10 natural gas wells in the state. 
The Oklahoma City-based company acquired the wells as part of a $475 million purchase over the summer of 27,000 acres in Monroe County. The company's Utica shale subsidiary, American Energy – Utica LLC, said at the time it bought the land from East Resources Inc. and an unnamed private company, which a source confirmed to me was West Virginia-based HG Energy. 
HG Energy formed in 2011 and its management comes from East Resources, the former company of Buffalo Bills owner Terry Pegula. The company now operates only in its home state.
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