Ascent Resources

Apex Energy | Arsenal Resources | Ascent Resources | Belmont County | Bradford County | CNX Resources | Coterra Energy (Cabot O&G) | Energy Companies | Guernsey County | Gulfport Energy | Indiana County | INR/Infinity Natural Resources | Lycoming County | Marshall County | McKean County | Ohio | Pennsylvania | Repsol | Seneca Resources | Susquehanna County | Taylor County | Tug Hill Operating | Weekly Permits | West Virginia | Westmoreland County

24 New Shale Well Permits Issued for PA-OH-WV May 16-22
May 26, 2022May 26, 2022

Just last week MDN told you we will, from now on, bring you new permit data for the previous week on Fridays. Yet here it is Thursday and we’re sharing the permit data for last week. What gives? MDN and its author, Jim Willis, are taking a break Friday (tomorrow) and next Monday for the Memorial Day holiday. Well, we’re taking Monday off for the holiday. We’re taking Friday off because there’s a wedding in Jim’s family this weekend. There are preparations to make, and celebrations to partake in. So we’re bringing you the permit data today, on Thursday. Speaking of which, there were 24 new permits issued last week, with 14 of them going to Pennsylvania, seven to Ohio, and three to West Virginia. We break it down below.
Read More “24 New Shale Well Permits Issued for PA-OH-WV May 16-22”
Apex Energy | Arsenal Resources | Ascent Resources | Belmont County | Bradford County | CNX Resources | Coterra Energy (Cabot O&G) | Energy Companies | Guernsey County | Gulfport Energy | Indiana County | INR/Infinity Natural Resources | Lycoming County | Marshall County | McKean County | Ohio | Pennsylvania | Repsol | Seneca Resources | Susquehanna County | Taylor County | Tug Hill Operating | Weekly Permits | West Virginia | Westmoreland County

35 New Shale Well Permits Issued for PA-OH-WV May 9-15
May 20, 2022May 27, 2022

We’re giving Fridays a shot as the day we will release weekly updates for permits issued for the prior one-week period. Today’s report is for the period of May 9-15 (last week, not this week). It seems as if the various state agencies have the data updated by the end of the week following, so that’s how we’ll release it (for now). Last week, Pennsylvania issued 22 new permits with Seneca Resources taking the lion’s share of 12 permits on two different pads (eight in Lycoming County and four in McKean County). Repsol scored four permits in Bradford County.
Read More “35 New Shale Well Permits Issued for PA-OH-WV May 9-15”
Ascent Resources | Energy Companies | ESG | Industrywide Issues | PennEnergy Resources | Seneca Resources | Southwestern Energy

Project Canary Intros Freshwater Usage Metric in NatGas Cert
May 18, 2022May 27, 2022

Project Canary is one of three major “responsible gas” certification schemes. Project Canary has its TrustWell Certification program, Equitable Origin has its EO100 certification, and MiQ has its own self-named standard too. The TrustWell Certification assesses data points in 24 operational categories, ranging from water management to well integrity. Project Canary announced earlier this month that one its metrics for measuring and mitigating the effects of operations on local water resources has been peer-reviewed and published (as a study) by a third-party assessor in a leading industry journal. Several Marcellus/Utica drillers have achieved Project Canary’s Freshwater Verified Attribute as part of their TrustWell certification.
Read More “Project Canary Intros Freshwater Usage Metric in NatGas Cert”
Antero Resources | Ascent Resources | Columbiana County | Coterra Energy (Cabot O&G) | Encino Energy | Energy Companies | EQT Corp | Greene County (PA) | Guernsey County | Harrison County | Lycoming County | Ohio | Olympus/Huntley & Huntley | Pennsylvania | Seneca Resources | Susquehanna County | Tioga County (PA) | Washington County | Weekly Permits | West Virginia | Westmoreland County | Wetzel County

Corrected: 25 New Shale Well Permits Issued for PA-OH-WV May 2-8
May 16, 2022May 27, 2022

We always wait a few days into a new week before grabbing new shale well permits data to give the folks at the various state agencies time to update their systems for the previous week. Last Wednesday we told you that Pennsylvania had issued 11 new permits, Ohio issued none, and West Virginia issued just one (see 12 New Shale Well Permits Issued for PA-OH-WV May 2-8). In rechecking today, we discovered PA actually issued 13 new permits and OH issued 11 permits during that period (both states updated their data since last Wednesday). WV remained at one new permit. We include the revised and corrected reports below.
Read More “Corrected: 25 New Shale Well Permits Issued for PA-OH-WV May 2-8”
Ascent Resources | Energy Companies | Ohio | Statewide OH

Ascent 1Q – Drills 17 Ohio Wells, Loses $1.5B on Bad Derivatives
May 12, 2022May 12, 2022

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 and the 8th largest natural gas producer in the U.S. The company issued its first quarter update earlier this week. Ascent averaged production of 2.0 Bcfe/d for the quarter, a 9% increase over 1Q21. Nearly all of Ascent’s production (93%) was natural gas, while the rest was oil and NGLs. Ascent generated -$2 million of free cash flow (yes, negative free cash flow) and lost $1.5 billion during 1Q based on bad bets on derivatives/hedging.
Read More “Ascent 1Q – Drills 17 Ohio Wells, Loses $1.5B on Bad Derivatives”
Allegheny County | Antero Resources | Ascent Resources | Belmont County | Bradford County | Carroll County | Chesapeake Energy | Encino Energy | Energy Companies | EQT Corp | Greene County (PA) | Guernsey County | Indiana County | INR/Infinity Natural Resources | Marshall County | Ohio | Pennsylvania | Range Resources Corp | Southwestern Energy | Tyler County | Weekly Permits | West Virginia | Wetzel County

35 New Shale Well Permits Issued for PA-OH-WV Apr 25-May 1
May 4, 2022May 4, 2022

Last week Pennsylvania issued 16 new shale well permits. EQT led the way with ten permits, all of them for wells in Greene County. You just HAVE to read the names of the wells (below). After getting skunked for two weeks in a row, Ohio finally issued permits once again last week–ten of them. Ascent Resources scored six permits, mostly in Belmont County. Encino Energy had four permits, all in Carroll County. Finally, West Virginia had nine permits. Antero Resources scored seven of the nine (six in Wetzel County), and Southwestern took the remaining two permits (both in Marshall County).
Read More “35 New Shale Well Permits Issued for PA-OH-WV Apr 25-May 1”
Antero Resources | Ascent Resources | Bradford County | Doddridge County | Energy Companies | HG Energy | Jefferson County (OH) | Marshall County | Ohio | Ohio County | Pennsylvania | Range Resources Corp | Repsol | Ritchie County | Seneca Resources | Southwestern Energy | Tioga County (PA) | Washington County | Weekly Permits | West Virginia

34 New Shale Well Permits Issued for PA-OH-WV Apr 4-10
April 13, 2022April 20, 2022

Last week Pennsylvania issued 15 new shale well permits (up one from the prior week), with Repsol taking five, and both Range Resources and Seneca Energy grabbing four each. All permits for each of the three were on a single pad. Ohio issued five new permits last week, with all five going to Ascent Resources. West Virginia issued a big 14 permits (after issuing no permits in the prior week). Antero Resource received six permits, with Southwestern Energy and HG Energy each receiving four permits in WV.
Read More “34 New Shale Well Permits Issued for PA-OH-WV Apr 4-10”
Ascent Resources | Energy Companies | Gulfport Energy | HG Energy | Industrywide Issues | M&A | XTO

4 Cos. Shopping M-U Assets – Represents 11.5% of M-U Production
April 7, 2022April 7, 2022

We recently received a couple of recent issues of a monthly news/analysis newsletter from The Capitol Forum (TCF). The author shared with us (and is allowing us to share with you) the March and April monthly editions of TCF Upstream Monthly, a publication that focuses on drilling in the Appalachian Basin. The April issue tackles the rumored Gulfport Energy/Ascent Resources merger we recently reported on (see Rumor: Gulfport Energy in Talks to Merge with Ascent Resources). Analysis of that potential merger is fascinating. However, it was tangential information part of the analysis that caught our eye. If you add up all of the assets currently rumored or known to be in play (for sale or merger), it amounts to 11.5% of all M-U production.
Read More “4 Cos. Shopping M-U Assets – Represents 11.5% of M-U Production”
Ascent Resources | Beech Resources | Bradford County | Carroll County | Coterra Energy (Cabot O&G) | Encino Energy | Energy Companies | EQT Corp | Fayette County | Guernsey County | Harrison County | INR/Infinity Natural Resources | Jefferson County (OH) | Lycoming County | Ohio | Pennsylvania | Seneca Resources | Southwestern Energy | Susquehanna County | Tioga County (PA) | Utica Resource Operating | Washington County | Weekly Permits

24 New Shale Well Permits Issued for PA-OH-WV Mar 28-Apr 3
April 6, 2022April 6, 2022

Last week Pennsylvania issued 14 new shale well permits, with EQT Corp. grabbing eight (seven of them on a single pad in Fayette County), and Coterra Energy (formerly Cabot Oil & Gas) receiving three (all on the same pad in Susquehanna County). Ohio issued ten new permits last week, with three going to a relative newcomer, Utica Resource Operating (same pad in Guernsey Count) and three for Encino Energy (same pad in Harrison County). West Virginia got skunked and shows no new shale permits issued last week. Pity.
Read More “24 New Shale Well Permits Issued for PA-OH-WV Mar 28-Apr 3”
Ascent Resources | Energy Companies | Ohio | Statewide OH

Ohio’s Largest Shale Driller, Ascent Resources, Preps for IPO
April 1, 2022April 1, 2022

On Monday MDN brought you big news from Bloomberg that Gulfport Energy is in talks with Ascent Resources to merge (see Rumor: Gulfport Energy in Talks to Merge with Ascent Resources). Here it is, the end of the week, and we have a new rumor to share, this one from the more-reliable Reuters news service. Super secret sources tell Reuters that privately-held Ascent, Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S., is getting ready to go public with an initial public offering (IPO).
Read More “Ohio’s Largest Shale Driller, Ascent Resources, Preps for IPO”
Antero Resources | Armstrong County | Ascent Resources | Beaver County | Belmont County | Butler County | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Monroe County | Ohio | Ohio County | PennEnergy Resources | Pennsylvania | Snyder Brothers | Southwestern Energy | Susquehanna County | Tyler County | Washington County | Weekly Permits | West Virginia

31 New Shale Well Permits Issued for PA-OH-WV Mar 21-27
March 30, 2022March 30, 2022

Last week Pennsylvania issued 21 new shale well permits, with Snyder Brothers grabbing seven, PennEnergy Resources getting six, and Coterra Energy (formerly Cabot Oil & Gas) receiving five. In each case, the permits for each company were for a single well pad. Ohio issued just three new permits last week, two for Ascent Resources and one for Southwestern Energy. West Virginia finally came back to life, issuing seven new shale permits last week. Six of the WV permits were for Antero Resources, one for Southwestern Energy.
Read More “31 New Shale Well Permits Issued for PA-OH-WV Mar 21-27”
Ascent Resources | Energy Companies | Gulfport Energy | Industrywide Issues | M&A | Ohio | Statewide OH

Rumor: Gulfport Energy in Talks to Merge with Ascent Resources
March 28, 2022March 31, 2022

Public company Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy less than a year ago, in May 2021, with a new board and new top management (see Gulfport Energy Emerges from Bankruptcy w/New Board, CEO/CFO Gone). By September of last year the rumors began that the company was shopping itself for sale (see Big News: OH Utica Driller Gulfport Energy Looking to Sell Itself). There’s a new rumor that Gulfport is in serious talks to sell itself to and merge with private company Ascent Resources, the Ohio Utica’s largest producer.
Read More “Rumor: Gulfport Energy in Talks to Merge with Ascent Resources”
Antero Resources | Ascent Resources | Butler County | Chief Oil & Gas | Coterra Energy (Cabot O&G) | Diversified Energy | Doddridge County | Energy Companies | Gulfport Energy | Jefferson County (OH) | Marshall County | Monroe County | Ohio | PennEnergy Resources | Pennsylvania | Sullivan County | Susquehanna County | Tug Hill Operating | Weekly Permits | West Virginia

20 New Shale Well Permits Issued for PA-OH-WV Mar 14-20
March 23, 2022March 23, 2022

We’re back to covering just a single week of new permits issued. The good news is that the PA DEP’s reporting site was still up and online over the past week, so we have numbers! In Pennsylvania, 11 new permits were issued last week, with Coterra Energy (formerly Cabot Oil & Gas) getting the lion’s share (nine permits), all of them in Susquehanna County on two well pads. Ohio issued seven new permits last week, with Gulfport Energy scoring four of the seven, all on the same pad. West Virginia issued just two new permits, one to Antero Resources and the other to Tug Hill Operating.
Read More “20 New Shale Well Permits Issued for PA-OH-WV Mar 14-20”
Antero Resources | Arsenal Resources | Ascent Resources | Belmont County | Bradford County | Carroll County | Chief Oil & Gas | CNX Resources | Doddridge County | Encino Energy | Energy Companies | EQT Corp | Greene County (PA) | Gulfport Energy | HG Energy | Jefferson County (OH) | Lewis County | Lycoming County | Marshall County | Monroe County | Ohio | Ohio County | Pennsylvania | Range Resources Corp | Southwestern Energy | Taylor County | Washington County | Weekly Permits | West Virginia | Wetzel County

37 New Shale Well Permits Issued for PA-OH-WV Feb 28-Mar 13
March 16, 2022March 16, 2022

The Pennsylvania Dept. of Environmental Protection (DEP) finally got their reporting system back online after it had gone down for a second time in three weeks. We have collected the permits issued over a two-week period in this report, to catch things up (and because PA didn’t issue any permits for one of the two weeks). This current report shows permits issued from Monday, Feb. 28 through Sunday, Mar. 13. PA issued 15 new permits over the two-week period. The top permitees in PA were EQT and CNX, both with five permits each. In Ohio, 11 new permits were issued, with Encino Energy receiving four and Gulfport three permits. West Virginia also issued 11 new permits for the two-week period. Antero received six of WV’s permits, and both Southwestern Energy and Arsenal Resources scored two each.
Read More “37 New Shale Well Permits Issued for PA-OH-WV Feb 28-Mar 13”
Ascent Resources | Energy Companies

Ascent Resources Breaks 2 Bcfe/d in ’21, Aims for 2.1 Bcfe/d in ’22
March 11, 2022March 11, 2022

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 and the 8th largest natural gas producer in the U.S. The company issued its fourth quarter and full-year 2021 update yesterday. The company averaged production of 2.03 billion cubic feet equivalent per day (Bcfe/d) during 4Q and 1.94 Bcfe/d for the full year. Nearly all of Ascent’s production (93%) was natural gas, while the rest was oil and NGLs. Ascent generated $54 million of free cash flow and $1.1 billion in profit during 4Q, but lost $806 million overall for the year based on bad hedging bets earlier in the year.
Read More “Ascent Resources Breaks 2 Bcfe/d in ’21, Aims for 2.1 Bcfe/d in ’22”
Ascent Resources | Beaver County | Energy Companies | Harrison County | Lycoming County | Ohio | PennEnergy Resources | Pennsylvania | Range Resources Corp | Repsol | Susquehanna County | Weekly Permits

6 New Shale Well Permits Issued for PA-OH-WV Feb 21-27
March 9, 2022March 9, 2022

The good news is that the Pennsylvania Dept. of Environmental Protection’s online reporting site is back online and we were able to retrieve new shale drilling permits for two weeks ago (Feb. 21-27). The bad news is that there was a paltry four permits issued during that week. Perhaps the DEP site/system is not yet fully populated with permits issued during that time? Ohio issued two permits during the same week. And West Virginia issued (gasp) zero during that week. This has to be the lowest number of permits issued during a single week we can remember–ever.
Read More “6 New Shale Well Permits Issued for PA-OH-WV Feb 21-27”