American Energy Partners to Acquire Companies Serving Three States | Lee High Valley regional news

American Energy Partners Inc., which claims to be a diversified energy company based in Allentown, announced Monday that it had agreed to acquire a privately held company serving Ohio, West Virginia and Pennsylvania.

American Energy did not disclose the price or name of a company focused on reducing its customers’ environmental footprint through the shutdown, abandonment, and recycling of oil and gas facilities. Declaration Distributed by GlobeNewswire.

According to the statement, the transaction will increase American Energy’s annual revenue by more than $ 3 million, exceeding its forecast of $ 5 million for 2022. Purchases are covered by cash and debt.

CEO Brad Domitrovitsch said the acquisition shows his company’s commitment to a “clean energy transition”.

American Energy was formerly known as Cornverde Energy USA Inc. It is traded as AEPT on the over-the-counter service “Pink Sheets” and not on major exchanges. The share was quoted at 25 cents on Monday around 11:00.

Pink sheet stocks, sometimes referred to as “penny stocks”, are not always in flux and often have few transactions. Investopedia. This can make them volatile.

American Energy Partners to Acquire Companies Serving Three States | Lee High Valley regional news

Source Link American Energy Partners Says It Will Acquire Companies Serving Three States | Lee High Valley regional news

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