Our primary focus has been in the exploration and production of prominent Appalachian oil and gas shale plays. Ascent has established a leading position in the Appalachian Basin, with ownership in approximately 195,000 net acres purchased or under contract. Our acreage position spans multiple phases of the Utica play, providing diversified exposure to dry gas, oil and natural gas liquids (NGL).
Our midstream strategy is supported by strong industry relationships with gathering and processing providers that continue to benefit us as we develop our asset base. Our diversified transportation portfolio that delivers to several markets, helps diversify pricing points and mitigate the impact of depressed in-basin pricing. In addition, with gathering and processing agreements already in place, the vast majority of our leasehold is covered with minimal producer commitments, creating a favorable fee structure.
Our experienced management team consists of leaders with a proven track record in oil and gas development. They prefer a “hands on” approach, and have overseen the drilling of thousands of horizontal wells across the U.S. including over 800 wells in the Utica and Marcellus, and more than 30 rigs in various unconventional plays. Their experience and management practices led to zero employee injuries since company inception, with top decile performance in employee Total Recordable Incident Rate (TRIR) and Lost Time Incident Rate (LTIR).