Allentown-based American Energy Partners, Inc. recently signed a definitive agreement to acquire Hickman Geological Consulting, LLC, which is based in Canonsburg, Penn.
The acquisition of Hickman Geological Consulting by American Energy adds in-house valuation of oil and gas assets, mineral buying advisement, A&D diligence and advisement, leasing and negotiations, and oil and gas exploration to American Energy’s services.
“As a company, we all worked diligently over the past few weeks to evaluate this acquisition with great diligence and care.” Brad Domitrovitsch, CEO of American Energy, said. “I would like to thank both Josh and Jessica Hickman, as well as the team that worked so hard to make this acquisition possible.”
The acquisition represents one of a series of acquisitions planned for the future and marks the beginning of American Energy’s buy and build strategy.
American Energy noted that while Josh Hickman, the owner of Hickman Geological Consulting, LLC, is on the American’s board of directors, the board approved the transaction after determining, in good faith, that the acquisition is in the best interests of American Energy because it will immediately contribute to top-line revenue.
“This company was built from the ground up with my wife, Jessica,” Josh Hickman said. “It is family owned and operated and joining the American Energy family of companies will ensure that our efforts will be rewarded in the many years to come.”
American Energy expects to complete the transfer of all assets and interests shortly.