ASCENT RESOURCES UTICA HOLDINGS, LLC ANNOUNCES PROPOSED OFFERING OF $500 MILLION OF NEW SENIOR NOTES

OKLAHOMA CITY, June 3, 2025 /PRNewswire/ -- Ascent Resources Utica Holdings, LLC (together with its subsidiaries, "Ascent") announced today that it, along with its wholly-owned subsidiary, ARU Finance Corporation, intends to offer subject to market and other conditions $500 million in aggregate principal amount of senior unsecured notes due 2033 (the "2033 Notes") in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act") (the "Offering").

Ascent intends to use the net proceeds from the Offering, together with cash on hand and borrowings under its revolving credit facility, to fund the redemption of all of its outstanding 8.25% senior notes due 2028 (the "2028 Notes"). Pursuant to the terms of the indenture governing the 2028 Notes, Ascent will issue a conditional notice of redemption to redeem the outstanding 2028 Notes, which redemption will be conditioned upon the closing of the Offering.

The 2033 Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The 2033 Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act.

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the 2033 Notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale is unlawful. This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the 2028 Notes.

About Ascent Resources:
Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, and operating natural gas and oil properties located in the Utica Shale in southern Ohio. With a continued focus on good corporate citizenship, Ascent is committed to delivering cleaner burning, affordable energy to our country and the world, while reducing environmental impacts. 

Forward-Looking and Cautionary Statements: 
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this press release regarding, among other things, the Offering, including the anticipated use of the net proceeds therefrom, the planned redemption of the 2028 Notes, our strategy and future operations.

Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control, including, but not limited to, market risks and uncertainties, including those which might affect the Offering. Should one or more of these risks or uncertainties occur, or should any underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue.

Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

Contact:
Chris Benton
Vice President – Finance and Investor Relations
Phone: 405-252-7850
Email: [email protected]

SOURCE Ascent Resources Utica Holdings, LLC