AEU and AEM to combine, forming American Energy Appalachia Holdings

American Energy Partners LP affiliates American Energy – Utica LLC (AEU) and American Energy – Marcellus LLC (AEM) plan to combine in an all-stock transaction. Upon completion of the transaction, current AEU and AEM shareholders will own all of the common equity of newly formed American Energy Appalachia Holdings LLC (AEA).

AEU and AEM will remain wholly owned subsidiaries of AEA and their existing debt and convertible debt securities remain unaffected.

As a result of the transaction, AEA will operate over 300,000 net acres in the prolific Utica and Marcellus shale plays in eastern Ohio and northern West Virginia.

AEA had estimated proved reserves of 1.5 trillion cubic feet equivalent (77% gas) and estimated daily production of approximately 167 million cubic feet equivalent (79% gas) for the quarter ended Sept. 30, 2014.  

AEA's equity owners are the Energy & Minerals Group, First Reserve, other institutional investors and management.

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