American Energy Partners, LP, Expansds Presence in Permian | Russell T. Rudy Energy LLC
In June, American Energy Partners LP announced its intention to invest $4.25 billion in shale oil and gas assets in the Permian Basin. “Rigzone” reports that they are well on their way to doing just that. Since the end of July the company has acquired 27,000 net acres and 1,400 barrels of oil equivalent per day. Ultimate recovery of 527,000 barrels of oil equivalent per well is expected from the Wolfcamp formation.
American Energy currently operates 5 horizontal rigs in the Permian Basin and plans to increase that to 12 by the end of next year. The company intends to partially finance this expansion with an unregistered offering of subordinated debt to institutional investors.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/135708/American .
