June 29, 2018 Erin

Ascent Resources, LLC Announces Multiple Utica Acquisitions and Successful Capital Raise

OKLAHOMA CITY, June 29, 2018 — Ascent Resources, LLC (together with its subsidiaries, the “Company”) announced today that it has entered into definitive agreements to acquire certain natural gas and oil properties from Hess Corporation, CNX Resources, Utica Minerals Development, and a fourth undisclosed seller (together, the “Acquisitions”) for a combined purchase price of approximately $1.5 billion. The Acquisitions are expected to close in the third quarter of 2018, and will be funded with a combination of at least $965 million in common equity of the Company and no more than $535 million of borrowings under the Company’s revolving credit facility.

Read Full Story