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SUMMARY

The Utica shale producer earned a Grade A on its 1.8mn ft3/day of shale gas production.

By Dale Lunan

Privately-held Ascent Resources Utica Holdings, alongside reporting Q2 2022 net income of $285mn, said August 10 it had received a top Grade A certification from MiQ for “substantially” all of its natural gas production, which averaged 1.8bn ft3/day in Q2, largely from the Utica shale in the Appalachian basin.

Responsibly sourced natural gas, Ascent added, would be marketed throughout North America under a multi-year agreement with Spire Marketing.

The second quarter earnings reversed a year-ago net loss of $617mn, Ascent said. Cash provided by operating activities increased to $257.3mn from $183.9mn.