American Energy Partners, Inc. Issues Update on Acquired Entity Hickman Geological Consulting’s Projects and Performance -- 100% Average Increase in Top-Line Revenue


ALLENTOWN, Pennsylvania, Feb. 19, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, issues an update on the recently acquired geological services company, Hickman Geological Consulting, LLC (“HGC”).

Since 2018, Hickman Geological Consulting, LLC has served geotechnical clients in the Greater Pittsburgh region through project management of landslide remediation and expert witness services for lawsuits. While 2019 brought steady geotechnical work, 2020 has seen a significant increase in both the client base for these services and associated revenues. We have seen a 100% average increase in HGC’s monthly revenues since the acquisition of this entity.

The Company is pleased to announce that two additional geotechnical projects related to the remediation of active landslides have been awarded and will start in the spring.  These projects will have a significant, positive impact on the revenue of HGC for 2020.  An increase in engaged expert witness projects has also been noted that will lead to revenue generation during litigations.

Brad Domitrovitsch, Chairman & CEO of American Energy Partners, Inc., spoke on the subject, “We are pleased with the growth in Hickman Geological’s geotechnical projects.” Reflecting on the acquisition, he went on to say, “When the Company was purchased this was the smaller of the revenue centers and it has grown, as we projected, to be equal with that of the oil and gas valuation services.”

The growth in service sectors referenced above is projected to drive a significant increase in HGC’s top-line revenue, well beyond the $30,000 per month average the Company had generated in 2019.

For additional information, visit: Hickman Geological Consulting, LLC

American Energy Partners, Inc. (AEPT)

AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology.  Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.

For additional information, visit: American Energy Partners, Inc.

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This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT’s expectations and estimates.

Company Contact:                                                   

contact@americanenergy-inc.com