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Utica Minerals Development

Company Summary

Operational Regions

  • Appalachia

Related Entities

Recent news

  • 8/31/2018 - Ascent Resources - Utica... (subscriber access)
  • 7/13/2018 - Ascent Resources Closes... (subscriber access)
  • 6/29/2018 - Ascent Resources... (subscriber access)

Company Transactions

Date: 8/15/2018
Type: Acquisition

BUYERS:
  • Ascent Resources - Utica, LLC
  • Ascent Resources PLC
    • SELLERS:
  • Utica Minerals Development
  • Salt Fork Resources, LLC
    • DETAILS:

    COST: 900 $MM

    VOLUMES: 132 Mmcfe/d

    ACRES: 74400 Acres

    NOTES:
    Ascent Resources announced that they have entered into multiple transactions to acquire $1.5 billion in Utica natural gas and oil assets from Hess, CNX Resources, Utica Minerals Development and a fourth undisclosed seller. Cumulatively, the deal includes 113,400 net leasehold acres and royalty interests on 69,400 fee mineral acres. Total production is an estimated 216 Mmcfe/d, and the assets hold 1.1 Tcfe in proved reserves and 5.6 Tcfe in total resources. Additionally, Ascent adds 380 gross horizontal well locations and and interest in over 900 gross horizontal well locations
    REGIONS:
  • Utica