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Oklahoma-based Ascent Resources has entered into decisive agreements to buy out Utica Shale Oil and Natural Gas properties in a deal worth $1.5b. Utica’s acquisition will give Ascent access to 113,400 net leasehold acres and royalty interests on approximately 69,400 fee mineral acres, spanning the dry gas, wet gas, and oil windows in the over-pressured core of the Utica shale play. The deal is expected to close towards 3Q2018.
