Top Story | Deals - Acquisition, Mergers, Divestitures
Ascent Resources Spends $1.5 Billion On Utica Properties, Minerals
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Energy & Minerals Group/First Reserve-backed Ascent Resources has announced multiple acquisition deals in the Utica.
Firstly, the company has agreed to acquire Hess and CNX Resources' Utica JV property for $400 million in cash (click here to get the details in the Shale Experts deals database). Additionally, Ascent Resources LLC has agreed to acquire two additional properties from Utica Minerals Development (also backed by First Reserve) and another unnamed seller.The value of all four deals is approximately $1.5 billion.
Acquisition Highlights: Approximately 113,400 net leasehold acres, and royalty interests on approximately 69,400 fee mineral acres, spanning all three hydrocarbon windows in the over-pressured core of the Utica Shale 93 operated wells and net production of…- ✓ Full news archive — U.S., Canada & international coverage
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