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

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Man and woman arrested for making meth with babies in the house

    Man and woman arrested for making meth with babies in the house

    Tuesday, July 29 2014 8:37 PM EDT2014-07-30 00:37:47 GMT
    Deputies with the Mercer County Sheriff's Department arrested two people Monday night, when it was discovered they were making meth with 2 babies in the house. Deputy Horn told us the children are 7 and 18 months old.
    Deputies with the Mercer County Sheriff's Department arrested two people Monday night, when it was discovered they were making meth with 2 babies in the house. Deputy Horn told us the children are 7 and 18 months old.
  • How long should delays last as the Northbound lanes close at the East River Mountain Tunnel?

    How long should delays last as the Northbound lanes close at the East River Mountain Tunnel?

    Tuesday, July 29 2014 7:19 PM EDT2014-07-29 23:19:48 GMT
    Officials warn drivers to expect heavy delays Tuesday night and Wednesday night as the Northbound lanes of I-77 at the East River Mountain Tunnel close down for repairs.
    Officials warn drivers to expect heavy delays Tuesday night and Wednesday night as the Northbound lanes of I-77 at the East River Mountain Tunnel close down for repairs.
  • Will parking be an issue for Saints fans as the State Fair of West Virginia comes to town?

    Will parking be an issue for Saints fans as the State Fair of West Virginia comes to town?

    Tuesday, July 29 2014 7:19 PM EDT2014-07-29 23:19:19 GMT
    Local New Orleans Saints fans continue to watch and enjoy their beloved team as they continue to practice in our area. But as the State Fair of West Virginia grows closer and closer, some are concerned if parking will soon be an issue.
    Local New Orleans Saints fans continue to watch and enjoy their beloved team as they continue to practice in our area. But as the State Fair of West Virginia grows closer and closer, some are concerned if parking will soon be an issue.
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.