American Energy Partners announces land acquisition in 5 WV coun - WTRF 7 News Sports Weather - Wheeling Steubenville

American Energy Partners announces land acquisition in 5 WV counties

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  • Many WV coal counties losing revenue

    Many WV coal counties losing revenue

    Monday, August 8 2016 10:15 AM EDT2016-08-08 14:15:05 GMT

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

Two American Energy Partners LP affiliates have acquired 75,000 net acres of land in West Virginia's northern panhandle and a bordering Ohio county, the company announced Aug. 5.

In a $1.275 billion deal, American Energy — Marcellus acquired 48,000 acres of leasehold in Doddridge, Harrison, Marion, Tyler and Wetzel counties from East Resources Inc. and another private company.

American Energy — Utica also acquired 27,000 net acres of land in Monroe County, Ohio for $475 million.

The Marcellus Region, mostly located in West Virginia and Pennsylvania, is the largest producing shale gas basin in the United States, accounting for almost 40 percent of U.S. shale gas production, according to the Energy Information Administration. Marcellus Region production has increased dramatically over the past four years, increasing from 2 billion cubic feet per day in 2010 to its current production level of 15 billion cubic feet per day.

AEP is an oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma.

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