ALLENTOWN, PA, March 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, announces today that we have completed a record year for the fiscal year 2019 year ending December 31 and are poised to continue growth through 2020 with little correlation to the overall market.
Key highlights:
- Top line revenue grew by well over 230%
- Organic growth revitalized and above September guidance at +60%.
- Total assets grew by 68%.
- American Energy management cut its net operating loss by over 50%.
- American Energy’s ending cash balance increased by over 130%.
Exogenous factors contributing to economic slowdown in the oil and gas industry, as well as many other factors have not and for the foreseeable future should not affect American Energy. We have successfully insulated American Energy by focusing on the energy services sector, while still maintaining ownership of a small oil and gas well portfolio despite price volatility.
American Energy has a strong “Buy and Build” strategy for growth. Our strategic agenda has since completed the acquisition of both Hickman Geological Consulting, LLC and Oilfield Basics, LLC. Both acquisitions were immediately cash accretive and in line with our disciplined acquisition process.
We maintain a robust pipeline of potential targets. This pipeline is carefully selected to fit within our strategic pillars. Sellers must be accretive. We are not focused on turnarounds at the moment. Below are key highlights of the acquisition process:
- Sustainable Margins
- Recurring Revenues
- Quality Customers
- Strong Management
We insist on retaining existing management and sellers generally receive a combination of cash, stock, and notes plus performance-based incentives.
When asked for comment, American Energy CEO Brad Domitrovitsch stated, “Though we are certainly encouraged by the most recent KPI’s, we still see a great deal of work in the coming months. We have identified a pathway to profitability which can be summed up in four elements.” Mr. Domitrovitsch went on to describe this pathway to profitability and is paraphrased below:
- Deleveraging & Releveraging Balance Sheet
- Streamlining Corporate Overhead
- Enacting Operational Efficiencies & Controls
- Uplisting to OTCQB and Annual Audits
As a final remark, Mr. Domitrovitsch emphasized, “Although our share price and development KPIs are not where we would like them to be, I am convinced that we are on the right path to better growth over the coming months and years.”
American Energy’s 2019 annual financials will be posted to OTC Markets this month and within the 90-day allowance.
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.
Safe Harbor
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.