In a recent filing regarding its independent registered public accounting firm Grant Thornton, LLP’s resignation, American Energy Capital Partners, which is sponsored by AR Capital LLC, also declared that it has changed its name.
The oil and gas partnership, which was declared effective by the SEC in May 2014, is AR Capital’s first oil and gas offering. The sponsor has primarily found its success putting together non-traded real estate investment trusts and providing investors a quick turnaround by delivering liquidity via an exchange listing or merger with another REIT.
With its first foray into energy investing, the Nicholas Schorsch led sponsor has partnered with an Aubrey McClendon operated entity, American Energy Management Services, LLC, to identify, review, invest, and operate producing and non-producing onshore oil and gas assets.
Newly named American Energy Capital Partners – Energy Recovery Program, LP, the offering was off to a slow start. As reported by The DI Wire in November 2014, the partnership had yet to own any assets, according to filings at that time.
The new name comes at a time when the price of oil has dropped dramatically and many producers are scaling back and laying off work force.
For energy investors not burdened with debt or assets that came with high acquisition costs, being able to invest in energy today may be advantageous.