Ascent Resources, LLC (“Ascent") is an Exploration and Production company focused on the development of unconventional resources in the Appalachian region of the U.S. The Company is led by an independent management who has experience in unconventional resource development. With a focus on natural gas development, Ascent has accumulated acreage in the Marcellus and Utica shale plays.
NOTES:
Ascent Resources announced that they have entered into multiple transactions to acquire $1.5 billion in Utica natural gas and oil assets from Hess, CNX Resources, Utica Minerals Development and a fourth undisclosed seller.
Cumulatively, the deal includes 113,400 net leasehold acres and royalty interests on 69,400 fee mineral acres. Total production is an estimated 216 Mmcfe/d, and the assets hold 1.1 Tcfe in proved reserves and 5.6 Tcfe in total resources. Additionally, Ascent adds 380 gross horizontal well locations and and interest in over 900 gross horizontal well locations
REGIONS:
Utica
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2/6/2020 - S&P Global Ratings... (subscriber access)