AEW updates on notes offerings

American Energy – Woodford LLC (AEW), an affiliate of American Energy Partners LP, has provided an update on the expiration and final results of its private offer to exchange any and all of its outstanding 9.00% senior notes due 2022 held by eligible holders for its new 12.00% second lien notes due 2020.

The exchange offer expired on June 22. As of the expiration date, $339.7 million in aggregate principal amount of the existing notes, representing 97.06% of the outstanding principal amount of the existing notes, were validly tendered (and not validly withdrawn) pursuant to the exchange offer. AEW has accepted for exchange all of the existing notes that were validly tendered and not validly withdrawn, and will issue approximately $237.6 million in aggregate principal amount of the new notes in exchange for existing notes. After the settlement of the new notes and the cancellation of the validly tendered and accepted existing notes, which is expected to occur on June 24, $10.3 million in aggregate principal amount of the existing notes will remain outstanding.

In exchange for each $1,000 principal amount of existing notes validly tendered (and not validly withdrawn) as of June 8, each eligible holder will receive total exchange consideration consisting of $700 principal amount of the new notes. The early participation consideration includes the early participation premium, which consists of $50 principal amount of new notes. In exchange for each $1,000 principal amount of existing notes validly tendered after the early participation deadline, but before the expiration date, each eligible holder will receive total exchange consideration consisting of $650 principal amount of new notes. In addition, holders who validly tendered (and did not validly withdraw) their existing notes at or prior to the expiration date will receive, in respect of their existing notes that are accepted for exchange, accrued and unpaid interest up to, but not including, the settlement date.

Global Bondholder Services Corp. is acting as the information agent and exchange agent for the exchange offer and consent solicitation.

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