ASCENT RESOURCES, LLC ANNOUNCES CLOSING OF UTICA SHALE BOLT-ON ACQUISITION

OKLAHOMA CITY, Aug. 5, 2022 /PRNewswire/ -- Ascent Resources, LLC (together with its subsidiaries, "Ascent" or the "Company") announced today that it has closed on the previously announced bolt-on acquisition with XTO Energy, a subsidiary of ExxonMobil Corporation, in the Utica Shale in Ohio for a total purchase price of $270 million, subject to customary closing purchase price adjustments. Ascent financed the transaction with a combination of cash on hand and borrowings under its revolving credit facility.

Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in southern Ohio. With a continued focus on good corporate citizenship, Ascent is committed to delivering low-cost clean-burning energy to our country and the world, while reducing environmental impacts. For more information, visit www.ascentresources.com.

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements in this press release include, but are not limited to, statements regarding the transaction. These statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties. Actual results may vary materially from those expressed or implied in this press release. These statements are made as of the date of this press release and Ascent undertakes no duty or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Chris Benton
Director ? Finance and Investor Relations
405-252-7850
[email protected]

SOURCE Ascent Resources Utica Holdings, LLC