Ascent Resources Marcellus Holdings LLC (ARM) and its subsidiaries have emerged from Chapter 11 bankruptcy. The filing was a negotiated agreement reached with first and second lien term loan holders to restructure the balance sheet, reduce long-term debt and improve liquidity. The company owed more than $1 billion on the loans. The bankruptcy proceedings did not involve Ascent Resources LLC or other affiliates that oversee Utica Shale operations in Ohio. ARM operates more than 40,000 acres in West Virginia.
The Pennsylvania Department of Environmental Protection (DEP) is accepting public comments on the draft final general permits that address methane emissions and other air pollutants from unconventional well sites and midstream facilities, such as pigging and compressor stations, and processing plants. DEP received more than 10,000 comments on the proposal during the first comment period in 2017. Commentators are encouraged to review the GP-5 (midstream facilities) and GP-5A (unconventional wells) permits and submit comments using the DEP’s online eComment system by May 15.