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Tuesday, July 31, 2018

Ascent Resources' Big Deal Leads to Windfall for Two Ohio Counties

From WTOV:
Two counties in the Ohio Valley have recorded the largest single-day transfer of assets in decades. 
Belmont and Jefferson Counties are seeing a significant windfall thanks to a large purchase of natural gas resources. 
Ascent Resources has purchased nearly $1.5 billion dollars of natural gas assets from CNX. Ascent Resources is acquiring land, leases, rigs and wells in a four-county area. 
For both Belmont and Jefferson Counties, their respective county auditor offices confirmed Tuesday they have handled a combined asset transfer worth $365 million.
In Jefferson County, the news is huge. 
"This is the biggest transfer that I’ve witnessed in my entire career working here, and I do believe it is the biggest in the history of Jefferson County,” said Jefferson County Deputy Auditor E.J. Conn.




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