American Energy Partners has completed the acquisition of privately held Hickman Geological Consulting (HGC) a Washington County, PA based full-service valuation and geotechnical services company.
Image: AEP completes acquisition of Hickman Geological Consulting. Photo: Courtesy of drpepperscott230/Pixabay
Since 2013, HGC has been the Pittsburgh area’s leading valuation house for oil and gas minerals connected with estate planning, expert witness, lease negotiations, and mineral sales. In 2016, HGC expanded these services nationwide. HGC also provides geotechnical services related to landslide identification, mitigation and design as well as geotechnical residential building services, such as ground stability and infiltration testing.
The deal will be accretive to third quarter earnings and as a result of the acquisition, shareholders are expected to benefit from a number of outcomes, including enhanced competitive positioning; and a platform from which to accelerate growth in energy services. The roadmap for value creation over the longer term has the potential to deliver substantial incremental value through the addition of new services that provide the opportunity to generate significant new growth opportunities aimed at reducing costs and enhancing revenues.
Source: Company Press Release