American Energy Partners to acquire 48K acres in 5 WV counties - Beckley, Bluefield & Lewisburg News, Weather, Sports

American Energy Partners to acquire 48K acres in 5 WV counties

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Two affiliates of American Energy Partners LP, founded by former Chesapeake Energy CEO Aubrey McClendon, announced agreements to acquire land in Ohio and West Virginia June 9.

American Energy — Marcellus LLC, a platform company separate from American Energy Partners, announced it has signed agreements to acquire about 48,000 net acres of leasehold in Doddridge, Harrison, Marion, Tyler and Wetzel counties from East Resources Inc. and an unnamed company. According to a news release from American Energy Partners, the properties are expected to have net production of about 135 mmcfe per day.

McClendon founded American Energy Partners in April 2013 “to capitalize on opportunities available in unconventional resource plays onshore in the U.S.,” according to the company’s website.

American Energy — Utica LLC, another affiliate of American Energy Partners, announced it had signed agreements to acquire about 27,000 net acres of leasehold in Monroe County, Ohio from East Resources Inc. and an unnamed private company. According to the news release, the properties are expected to have net production of about 40 million cubic feet of natural gas equivalent per day.

Both deals are expected to close in the next 60 days, and the combined acquisition price is $1.75 billion. Both affiliates plan to increase operated drilling activity at the sites to between four and six rigs by the end of 2015.

The West Virginia acquisition is AEM’s entry into the southern Marcellus Shale play, and the company plans to drill about 410 gross wells and 355 net wells on its acreage in the coming years. The Ohio acquisition is AEU’s seventh major acquisition in the southern Utica Shale play.