Ascent plc reported 350 thousand cubic feet per day (circa 58 barrels of oil equivalent per day) from the first five wells put back into production last month in the Wolf Point area, northern Utah. INVENTORY Operator Arb Energy LLC is undertaking maintenance on a further four wells expected to beginning long term production, before […]
Tag: Ascent Resources plc
Ascent appoints David Patterson as CEO
Ascent Resources plc has appointed David Patterson as its chief executive officer, with immediate effect. Mr Patterson is an oil and gas explorer with more than 43 years’ experience onshore USA. He worked for several years in Utah and Colorado where he was vice president geology for Rose Petroleum plc, now called Zephyr Energy plc, […]
Ascent wins €5m in Slovenia arbitration
Ascent Resources plc has a won a further €4,990,976, plus interest since 19 January 2024, in an arbitration ruling against its former Slovenian joint venture partner Geoenergo d.o.o. PETROL GEO The sum is in addition to the €2,890,519.17 already accepted by Geoenergo’s administrator and approved by the relevant insolvency court. Proceedings relate to Ascent’s subsidiary’s […]
Ascent identifies first wells for workovers in Utah
Ascent Resources plc and its potential partner ARB Energy LLC have identified the first 15 wells for workovers, at a cost of $100,000, on oil, gas and helium-rich leases in northern Utah. LOAN NOTES In May, the company conditionally acquired a 10% interest in the ARB-owned and operated leases and rights to 50% of incremental […]
Ascent issues 15.7m shares to save costs
Ascent Resources plc has issued in total 15,770,217 new ordinary shares of 0.5p each to directors and executives in lieu of 30 to 40% of salaries or fees to save costs and align their interests with shareholders. DIRECTORS The shares cover the period of six months from 1 June 2025 and “other contractual amounts” owed […]
Ascent to appoint David Patterson as CEO
Ascent Resources plc plans to appoint US-based geologist David Patterson as chief executive officer and director following the company’s next general meeting. STRATEGY He replaces Andrew Dennan who decided not to stand for re-election at the forthcoming general meeting as the company refocuses its interests on the USA. Mr Dennan continues to work with the […]