Just a few days after Oklahoma City-based Ascent Resources Utica Holdings, LLC announced a $300 million offering of secured notes in a money-raising move, the company announced a closing of the offering.
The offering involved 8.250% senior unsecured notes due 2028 in which Ascent explained it would use the funds to pay down part of the outstanding borrowings from its revolving credit facility.
Ascent and its wholly-owned subsidiary, ARU Finance Corporation had made the original note offering. The company is the eighth largest producer of natural gas in the United States in terms of daily production and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in Southeast Ohio.
