Ascent sees 19% increase in daily production during second quarter
Friday, August 21, 2020
Ascent Resources Utica Holdings saw a 19% increase in average daily production in Ohio’s Utica Shale during the second quarter, according to Kallanish Energy.
However, despite the production increase, the company reported a net loss of $291 million over the same time period.
Ascent said it was hurt by lower commodity prices. It also had to write-off about $71 million in value changes on its hedges in the second quarter.
During the second quarter of 2019, Ascent saw a net gain of $356 million on total revenues of about $791 million in Q2 2019.
Learn more: Kallanish Energy > Ascent Resources reports 19% increase in production
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.