Report: Ascent Resources considers IPO or sale

The Wall Street Journal reports that Ascent Resources LLC, the Appalachian oil and natural gas exploration company founded by the late oilman Aubrey McClendon and two energy investment firms, is preparing for an initial public offering (IPO) or sale. Citing comments from “people familiar with the matter,” the newspaper says the Oklahoma City-based company, which has operations in Ohio’s Utica shale play, is interviewing bankers “to shepherd an offering and aiming for a stock-market valuation of more than $3.5 billion.” Should that happen, according to the Journal, an IPO likely would not take place until 2018. A subscription is required to read the full story.

National, Ohio