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American Energy Makes Utica Acreage Deals with Three Companies
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American Energy – Utica, LLC, an affiliate of American Energy Partners LP, has signed three agreements to acquire approximately 130,000 net acres in the southern Utica Shale play from affiliates of Hess Corporation, Exxon Mobil Corporation and privately-held Paloma Partners, LLC.
These acquisitions will bring AEU's holdings of southern Utica Shale leasehold to approximately 260,000 net acres, a level that is the largest in the industry and of which approximately 90% is located in the core of the play, defined as southern Jefferson, Belmont, eastern Guernsey, Harrison, Monroe and Noble counties. AEU plans to drill approximately 2,700 gross wells and 1,600 net wells in these counties over the next decade.
AEU's lead equity investor is Houston-based The Energy & Minerals Group (EMG), with…
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