Porter Hedges Represents Ascent Resources in the $270M Acquisition of Utica Acreage from XTO Energy

Porter Hedges represented Oklahoma-City based Ascent Resources, LLC (“Ascent”) in the closing of 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 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.

For additional information, please see the Ascent press release here.