60 New Shale Well Permits Issued for PA-OH-WV Dec 1 – 7
After a pathetic showing two weeks ago (just 8 permits), last week was a barnstormer—the most permits we’ve seen issued in a single week since we’ve been chronicling permits here on MDN. But, there’s a catch. Last week’s report for the combined three states shows 60 (!) permits issued, with 22 going to Pennsylvania, 24 to Ohio, and 14 to West Virginia. However, Ohio’s numbers are inflated because the Ohio Department of Natural Resources (ODNR) reported numbers last week that stretch back three weeks in time. You may recall Ohio didn’t issue permits for two weeks in a row. They actually issued permits but didn’t report them. So, this report includes 6 permits for the two missing weeks. Still, removing six from the total means 54 permits were issued last week, which remains a record high. Could the spike in the spot price for natural gas in the M-U be the reason? Read More “60 New Shale Well Permits Issued for PA-OH-WV Dec 1 – 7”
Ascent Resources, formerly American Energy Partners, was founded by gas legend Aubrey McClendon and 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” in the company. EMG plans to sell that stake in one of its portfolio companies to another EMG company. Another (smaller) investor, the Abu Dhabi Investment Council, has sued to block the transfer, alleging a “conflicted sale” that will short-change existing investors. 
In Q3 2025, U.S. E&Ps (drillers) successfully leveraged rigorous cost-cutting and capital discipline to maintain stable earnings despite commodity price volatility. With lifting costs down 16% since mid-2022, producers offset revenue pressures through efficiency and consolidation. RBN Energy reports that performance diverged by sector in 3Q: oil-weighted producers saw earnings rise 19% on stabilized crude prices and reduced impairments, while gas-weighted peers suffered a 27% earnings slump due to lower realizations. Total production increased 4.7%, mainly driven by oil majors. Looking ahead to Q4, the outlook shifts; oil producers face headwinds as prices dip toward $60/bbl, while natural gas producers anticipate a strong finish fueled by winter demand and rising Henry Hub prices. 
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?