Hedge Fund Mason Capital Makes Play to Buy Ascent Resources
Ascent Resources, formerly American Energy Partners, is a privately held company focused 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. The largest shareholder in the privately owned company is the private equity firm Energy & Minerals Group (EMG), with an “over 30% stake.” EMG wants to sell that stake in one of its portfolio companies to another EMG company. Another (smaller) investor, the Abu Dhabi Investment Council, sued to block the transfer, alleging a “conflicted sale” that will short-change existing investors (see EMG, Which Owns 30% of Ascent Resources, Blocked from Selling). The plot thickens. Another long-time investor, Mason Capital Management (a hedge fund), sent a letter to Ascent’s board offering to buy all outstanding shares in the company for cash at a price “superior to that contemplated by the EMG transaction.” Read More “Hedge Fund Mason Capital Makes Play to Buy Ascent Resources”
The Marcellus/Utica rig count gained a rig last week in the Ohio Utica. The combined count hit 39 total rigs, the most it has operated in more than a year. That’s great news! It means drilling is picking up in the M-U. Pennsylvania has held at 18 active rigs for four consecutive weeks. Ohio picked up one and now operates 14 rigs. Before last week, Ohio had held the same number of rigs at 13 since September 26. West Virginia maintained its 7 rigs, which it has operated since May 30. There were 24 rigs targeting the Marcellus and 15 targeting the Utica, for a combined 39 rigs in the M-U. 
Eastern Gas Transmission and Storage (EGTS), a wholly owned subsidiary of Berkshire Hathaway Energy Company (Warren Buffett’s company), filed a new project with the Federal Energy Regulatory Commission (FERC) in July (see 
Earlier this year, Houston-based EOG Resources acquired Encino Acquisition Partners for $5.6 billion, establishing the Utica Shale as a “third foundational play” alongside its Permian and Eagle Ford assets (see 
Earlier this year, the Federal Energy Regulatory Commission (FERC) and PJM Interconnection, the country’s largest electric grid operator (covering PA, WV, and OH, among other states), began to grapple with the issue of co-locating power plants with data centers (see 
Last week, the U.S. House of Representatives passed two bills that will make it easier to build natural gas pipelines in the northeast and elsewhere. The House passed H.R. 3898, the Promoting Efficient Review for Modern Infrastructure Today (PERMIT) Act, making it more difficult for states to reject pipeline and related projects based on the Clean Water Act. No more cases of New York and other states blocking federally-approved pipelines from getting built for years on end. The House also passed H.R. 3668, the Improving Interagency Coordination for Pipeline Reviews Act, which designates the Federal Energy Regulatory Commission (FERC) as the lead agency in the interstate pipeline approval process. No more interference from the EPA, BLM, and other federal agencies attempting to stifle pipeline projects. 
The European Union is simplifying compliance with its methane emissions law for oil and gas imports, a decision expected to aid U.S. exporters following pressure from the Trump administration. Recognizing that the commingled nature of U.S. liquefied natural gas (LNG) makes tracing difficult, the European Commission proposed two streamlined reporting options: utilizing third-party verification certificates or a digital “trace and claim” system. While the core regulation remains intact with stricter standards scheduled for 2027, these adjustments aim to prevent supply disruptions by offering more flexible monitoring solutions for the fragmented U.S. energy industry. To which we say, tell Europe to bugger off. 
OTHER U.S. REGIONS: PROPWR secures distributed microgrid contract with Coterra Energy; Colorado residents face high energy bills after regulators turn away from natural gas; NATIONAL: U.S. natural gas futures post hefty weekly loss; How billionaire Wes Edens’ big energy dream hit the rocks; A new approach to carbon capture could slash costs; EIA forecasts U.S. crude oil production will decrease slightly in 2026; Energy secretary predicts that electricity prices will stop rising ‘very soon’; INTERNATIONAL: Oil drifts lower despite geopolitical tensions; OPEC data points to balanced global oil market in 2026; Timor-Leste rejects climate hysteria, embraces development; What if pursuing carbon-free electricity does more harm than good?; Oil executives once booed Canada’s prime minister – now they cheer him; Panic-stricken climate alarmists resort to bolder lies.