American Energy - Utica, LLC Raises Approximately $1.7 Billion of Equity and Debt Financing to Acquire and Develop an Initial

 American Energy - Utica, LLC Raises Approximately $1.7 Billion of Equity and
    Debt Financing to Acquire and Develop an Initial Utica Shale Leasehold
                 Position of Approximately 110,000 Net Acres

PR Newswire

OKLAHOMA CITY, Oct. 9, 2013

OKLAHOMA CITY, Oct. 9, 2013 /PRNewswire/ -- American Energy – Utica, LLC
("AEU"), an affiliate of American Energy Partners, LP announced today that it
has raised approximately $1.7 billion in private equity commitments and term
loan proceeds to pursue a business plan focused on the Utica Shale play in
eastern Ohio.

AEU's lead equity investor is The Energy & Minerals Group ("EMG") and
additional equity was provided by First Reserve Corporation, AEU management
and others. AEU's lead debt investor is GSO Capital Partners, the credit
investing division of Blackstone, and additional debt was provided by Magnetar
Capital, BlackRock and others. AEU is headquartered in Oklahoma City and is
led by its founder, Chairman and CEO Aubrey K. McClendon.

Proceeds from these financings will be used initially to acquire approximately
110,000 net acres of leasehold in the southern portion of the Utica Shale, to
finance drilling operations on this acreage and to acquire and develop
additional acreage in the Utica Shale. AEU will start drilling operations
with one rig in the fourth quarter of 2013 and plans to increase drilling
activity to at least 12 rigs over the next 2-3 years.

Midstream gathering, processing and fractionation operations will be provided
by MarkWest Utica EMG, a joint venture between Markwest Energy Partners
(NYSE:MWE) and EMG on approximately 80% of the acreage, with the remaining 20%
of the acreage dedicated to UEO Buckeye (UEO) for processing. UEO is a joint
venture of M3 Midstream, LLC, Access Midstream Partners, LP (NYSE: ACMP) and
EV Energy Partners, LP (NASDAQ: EVEP). Access Midstream and its partners will
be responsible for gathering the gas to UEO in the 20% acreage area.

Jefferies LLC acted as the sole financial advisor to AEU and Commercial Law
Group, Andrews Kurth and Duane Morris provided legal representation to AEU
while Baker Botts represented EMG and Latham & Watkins represented GSO and
certain other lenders.

About American Energy Partners – LP:

American Energy Partners – LP was founded by Aubrey K. McClendon in April 2013
to capitalize on opportunities available in unconventional resource plays
onshore in the U.S. For additional information, please visit

About The Energy & Minerals Group:

The Energy & Minerals Group is the management company for a series of
specialized private equity funds. EMG focuses on investing across various
facets of the global natural resource industry including the upstream and
midstream segments of the energy complex. EMG has approximately $6.7 billion
of total investor commitments (including co-investments) with in excess of
$4.2 billion allocated across the energy sector since inception. For
additional information, please visit

About First Reserve Corporation:

First Reserve is the largest global private equity firm exclusively focused on
energy. With 30 years of industry insight, investment expertise and
operational excellence, the Firm has cultivated an enduring network of global
relationships and raised more than USD $23 billion of aggregate capital since
inception. Putting these to work, First Reserve has completed more than 450
transactions (including platform investments and add-on acquisitions) on six
continents. Its portfolio companies operate in approximately 50 countries and
span the energy spectrum from upstream oil and gas to midstream and
downstream, including resources, equipment and services and infrastructure.
First Reserve has offices in Greenwich, CT; Houston; London and Hong Kong. For
additional information, please visit

About GSO Capital Partners:

GSO, a division of The Blackstone Group, is a leading alternative asset
manager with approximately $62 billion of assets under management as of June
30, 2013. GSO has a global footprint with approximately 240 professionals
among its offices in Houston, New York, London and Dublin, including a
dedicated team of energy professionals. For additional information, please

About MarkWest Energy Partners, L.P.:

MarkWest Energy Partners, L.P. is a master limited partnership engaged in the
gathering, processing and transportation of natural gas; the gathering,
transportation, fractionation, storage and marketing of natural gas liquids;
and the gathering and transportation of crude oil. MarkWest has a leading
presence in many unconventional gas plays including the Marcellus Shale, Utica
Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale and Granite Wash
formation. For additional information, please visit

About Access Midstream Partners, L.P.:

Access Midstream Partners, L.P. (NYSE:ACMP) is the industry's largest
gathering and processing master limited partnership as measured by throughput
volume. The Partnership owns, operates, develops and acquires natural gas
gathering and processing systems and other midstream energy assets.
Headquartered in Oklahoma City, the Partnership's operations are focused on
the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica Shales and
Mid-Continent region of the U.S. For additional information, please visit

About M3 Midstream, LLC:

M3 Midstream LLCis an independent midstream energy company formed to build,
acquire, own and operate midstream oil and gas assets in growth areas of the
United States. M3's current focus is the development of greenfield projects
that include oil and gas gathering, compression, processing and fractionation
in the Utica and Marcellus Shales. More information is available at

About EV Energy Partners, LP:

EV Energy Partners, L.P. is a master limited partnership engaged in acquiring,
producing and developing oil and gas properties. For additional information,
please visit

SOURCE American Energy Partners - LP

Contact: American Energy Partners, LP, Mr. Steven Lipin, Brunswick Group,
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