Two affiliates of Oklahoma-based American Energy Partners closed two deals with Denver-based East Resources for a total 75,000 net shale acres in Ohio and West Virginia.
The two deals are worth a combined total of $1.75 billion.
Both deals are for leaseholds, an agreement that allows AEP to temporarily hold the land rights.
American Energy – Utica closed a deal with East Resources and an unnamed company for 27,000 net acres in Monroe County, Ohio.
Monroe County is in eastern Ohio, a hot-spot in the Utica shale basin.
The deal is worth $475 million.
The acquisition was partially financed by issuing $250 million of convertible subordinated notes to the sellers, with the balance paid using available cash.
American Energy – Marcellus also grabbed approximately 48,000 net acres of leasehold from East Resources and the unnamed company for $1.275 billion.
The Marcellus acres are in Doddridge, Harrison, Marion, Tyler and Wetzel Counties, West Virginia.
The assets are in the Marcellus formation region, the most productive shale gas basin in the US.