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26 New Shale Well Permits Issued for PA-OH-WV Nov 7-13
Permits issued to drill new Marcellus/Utica wells slipped last week, for the week of Nov. 7-13. Last week saw a total of 26 new permits issued, falling from 43 permits the week before. Pennsylvania received the most permits, just barely, with 13 new permits. Ohio received 12 new permits, and West Virginia a single new permit.
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Ascent Resources, originally founded as American Energy Partners by gas legend Aubrey McClendon, is a privately-held company that focuses 100% on the Ohio Utica Shale. Ascent is Ohio’s largest natural gas producer (352,000 leased acres) and the 8th largest natural gas producer in the U.S. The company issued its third quarter update yesterday. Ascent averaged production of 2.34 Bcfe/d for the quarter, up significantly from the 1.98 Bcfe/d it averaged in 3Q21 (18% increase). Production was also up from the 1.97 Bcfe/d produced last quarter, 2Q22 (19% increase). Nearly all of Ascent’s production (94%) was natural gas, while the rest was oil and NGLs.
On July 1, just as everyone was heading out the door for summer vacation, Ascent Resources announced it is buying another 26,800 acres in the Ohio Utica for $270 million (see