Ascent Resources closes on XTO Energy bolt-on acquisition
Thursday, August 11, 2022
Ascent Resources, LLC has closed on its bolt-on acquisition with XTO Energy, a subsidiary of ExxonMobil Corporation, in the Utica Shale in Ohio, according to PR News Wire.
The deal is valued at $270 million, subject to customary closing purchase price adjustments. The company 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.
Learn more: PR Newswire > Ascent Resources, LLC Announces Closing of Utica Shale Bolt-On Acquisition
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