Ascent Resources Promotes Brooks Shughart (CFO) to be President
Ascent Resources, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and one of the largest natural gas producers in the U.S. Yesterday, Ascent announced that Brooks Shughart, currently the Chief Financial Officer (CFO) for the company, has been appointed as President of Ascent and its subsidiaries. Mr. Shughart will remain in his current role as CFO, with expanded responsibilities to include marketing & midstream, business development, and operations. He will maintain his existing responsibilities of finance, treasury, investor relations, and accounting. Mr. Shughart is going to be a busy boy. Read More “Ascent Resources Promotes Brooks Shughart (CFO) to be President”
For the week of September 8 – 14, the number of permits issued to drill new wells in the Marcellus/Utica increased from the previous week. There were 26 new permits issued across the three M-U states last week, more than doubling the 11 issued two weeks ago. For the second week in a row, Pennsylvania’s permit take was pathetic. PA issued just two new permits last week, after issuing three two weeks ago. Expand Energy received one permit in Bradford County, and Coterra Energy received the other permit in Susquehanna County (both counties in northeastern PA). 
At the recent 2025 DUG Appalachia Conference & Expo held in Pittsburgh in August, Hart Energy honored the biggest, best, and most efficient private (not publicly traded) E&Ps in the Appalachian Basin’s Marcellus and Utica shales. Hart Energy’s editorial leadership chose honorees from among companies operating in Pennsylvania, Ohio, and West Virginia. Editors evaluated operator metrics, looking for cost efficiency, production, inventory preservation, and other factors. Who is the best of the best among privately owned drillers? 
Ascent Resources, founded as American Energy Partners by gas legend Aubrey McClendon, is a privately held company focusing 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and one of the largest natural gas producers in the U.S. The company issued its second quarter 2025 update yesterday. Net production for the quarter averaged 2,034 MMcfe/d (2.0 Bcfe/d), consisting of 1,738 MMcf/d of natural gas, 13,033 bbls/d of oil, and 36,385 bbls/d of natural gas liquids (NGLs), putting liquids at 15% of the overall production mix for the quarter. 
Ascent Resources, founded as American Energy Partners by Aubrey McClendon, a gas industry legend, is a privately held company that focuses 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. Yesterday, Ascent published its 2024 Sustainability Report, chronicling the company’s environmental, health and safety; social; and governance (ESG) efforts and accomplishments in 2024.