ARC’s AECP – Energy Recovery Program to Terminate Offering

American Energy Capital Partners – Energy Recovery Program LP, formed by AR Capital to acquire and develop U.S. oil and gas assets, have suspended their acceptance of subscriptions and are anticipating terminating the offering in the near future. Originally, the offering was expected to close on May 8, 2016. The reason for the termination was not specified in the filing with the Securities and Exchange Commission.

The company intends to dissolve and liquidate and make a distribution to unitholders for 100 percent of their capital contribution. All retail broker-dealers will retain their reallowances and all retail advisors will retain their selling commissions. Later this month, the company will update unitholders with respect to the dissolution and liquidation process and the timing of the distribution.

American Energy Capital Partners and AECP Management LLC have also agreed to mutually terminate the management services agreement that was signed back in June 2014.

American Energy Capital Partners – Energy Recovery Program LP was launched in June 2014 and raised $11.3 million of investor equity. It was designed as a yield vehicle similar to an upstream master limited partnership and planned to acquire, develop, operate, produce and sell working and other interests in producing and non-producing oil and natural gas properties located onshore in the United States.