Eastern & Southern Ohio Oil & Gas Activity Pulse

Dec 29, 2025
3 min read

Week of Dec. 22–28, 2025 (Mon, Dec. 29, 2025)

1) Executive Snapshot

Permits: Ohio shale permitting remains light and steady, with no breakout permitting surge reported this week.
Rigs: U.S. rig count increased modestly; Ohio’s Marcellus/Utica count is stable around 39 rigs, with ~14 in Ohio proper.
M&A / Corporate: Continued interest in Ascent Resources, though no new milestones this week; legal and ownership discussions persist.
Regulatory: No new Ohio oil & gas regulatory moves widely reported this week; ongoing local issues (injection wells/other permits) remain background pressures.
Markets: National rig data suggest slight drilling uptick, though long‑term rig counts are down YOY.

2) Permits (Ohio – Utica Shale)

Ohio permits are continuing at a maintenance pace with no significant weekly spike reported in public summaries for this period.
This reflects typical year‑end administrative timing and inventory management rather than an operational expansion.

Takeaway: The permit flow suggests operators are maintaining pace rather than accelerating drilling permits at this point.

3) Rigs & Field Activity

National rig trend: According to Baker Hughes reporting for the week ending Dec. 23, 2025, U.S. drillers added 3 rigs to bring the total to ~545 active rigs.
Ohio / Marcellus‑Utica: Regional data show the M‑U rig count at ~39 rigs, with Ohio accounting for ~14 rigs — one of the highest M‑U totals in over a year.

Interpretation: Regional drilling activity is steady; small national uptick may be weather or seasonally influenced rather than a structural rig count shift.

4) M&A / Corporate

Ascent Resources remains a focus: Earlier this month, investor friction and competing strategic ideas around its ownership were noted; this continues to be a point of industry chatter (but no new confirmed transaction this week in open sources).
Broader rig and operator moves in the Appalachian region (e.g., Antero differential strategies) have been highlighted in adjacent reporting but not specifically tied to new Ohio asset deals this week.

Operational takeaway: Corporate positioning may influence 2026 planning even absent announced deals this week.

5) Regulatory & Local Issues (Ohio)

No major new Ohio oil & gas regulatory developments published this week that alter the legal landscape. Ongoing local concerns (such as injection well scrutiny, brine management, and permits) persist from prior weeks but without discrete new filings reported.

Regulatory pulse: Stable, with background pressures remaining but no headline shifts.

6) Markets (Rig & Activity Indicators)

While rig additions nationally suggest a modest reaction to seasonal or price signals, overall rig counts are still down year‑over‑year.
Local price data for gas and oil were not directly surfaced in the counts this week, but national drilling trends and mid‑$50s WTI pricing contexts generally persist.

Market takeaway: Drill counts nudging up, but broader macro vectors (price, storage, winter demand) are still shaping activity.

7) County / Region Heat Map

Steady / Active

Belmont, Monroe, Noble, Carroll: Core Utica continues with consistent drilling and permit issuance.
Marcellus/Utica region: Stable rig counts support ongoing field activity without sharp swings.

Quiet / No New Signals

Counties outside the core leasing footprint show no new permit surges or regulatory headlines this week.

8) Forward Watch (Next 1–2 Weeks)

ODNR weekly permit recap: A fresh permitting summary when posted will better capture week‑ending Dec. 21 and week‑ending Dec. 28 volumes.
Rig count follow‑ups: Post‑holiday Baker Hughes releases may clarify whether the small uptick continues.
Ascent developments: Ongoing investor / governance moves could crystallize into concrete deal actions early in 2026.

Bottom Line: Eastern & Southern Ohio’s oil & gas activity this week stays steady rather than accelerated. Permitting is routine, rigs are holding a stable count, and broader national metrics show mild drilling upticks yet still subdued relative to prior years. The corporate backdrop (esp. Ascent) remains the most interesting narrative thread for the region as year‑end closes.