Eastern & Southern Ohio Oil & Gas Activity Pulse

Marketing Director
Jan 12
3 min read

Week of Jan. 5–12, 2026

1) Executive Snapshot

Permits (Utica/Ohio): Regional permit issuance continues at a moderate pace, Ohio contributed to roughly 6 of ~26 new Marcellus/Utica shale permits in the week ending Dec. 28, 2025, indicating continued drilling authorization activity.
Rigs: The Marcellus/Utica rig count holds at ~39 rigs, the highest in over a year, with ~14 rigs in Ohio and the broader count steady week‑to‑week.
M&A / Corporate: Ascent Resources leadership shift and takeover activity remain in market narratives from recent reporting, though no definitive new transactions were reported this week in accessible sources.
Regulatory / Policy: A tax‑treatment ruling in Ohio could modestly affect natural gas usage taxation for industrial operations, not drilling regulation per se, but relevant to cost structures.
Market Signal: Local pump prices in Columbus have fallen to three‑year lows, underscoring weak retail petroleum pricing even as upstream discipline persists.

2) Permits (Ohio/Utica Shale)

Shale well permits: Last week’s regional permitting summary (Dec. 22–28) tallied ~26 new shale well permits across PA‑OH‑WV, with ~6 issued in Ohio.
- Operators involved include major players like Antero, EOG, EQT, Gulfport & others.
Permit activity remains active but not spiking, consistent with a disciplined operators’ approach at year’s start.

Permit Takeaway: Authorization levels are steady and in line with ongoing field development plans; no surge or dropoff this reporting cycle.

3) Rigs & Field Activity

Marcellus/Utica Rig Count:
- Combined ~39 rigs active (highest in over a year) with Ohio’s count ~14 rigs.
- National rig trends from broader reports also show modest rig additions, suggesting a flat to slightly positive drilling sentiment.

Field Interpretation: Stable rig counts with regional strength, activity is sustained, not retracting.

4) M&A/Corporate Developments

Ascent Resources: Recent coverage highlights CEO Jeff Fisher’s retirement and continued takeover interest/bidding context, reflecting strategic repositioning that could influence 2026 activity.
Beyond Ascent, no new definitive deals tied explicitly to Eastern/Southern Ohio were surfaced this week.

M&A Pulse: Quiet in confirmed deals, but underlying corporate repositioning persists in the background.

5) Regulatory & Legal Developments

Tax Ruling: The Ohio Board of Tax Appeals ruled natural gas used in specific industrial processes is exempt from use tax, setting a tax precedent relevant to industrial consumers (and potentially affecting downstream cost signals).
ODNR continues oversight via its Division of Oil & Gas Resources, but no week‑specific policy shifts affecting drilling or permitting were identified in current reporting.

Regulatory Pulse: Background regulatory movement, but no new drilling‑specific rule changes this week.

6) Market Indicators

Retail price pressure: Columbus gasoline prices hit three‑year lows (~$2.60/gal) early in 2026, decoupled from upstream activity, a sign of soft demand or abundant supply.
Broader oil & gas market signals (via Baker Hughes data and energy news) show modest rig additions and ongoing global demand considerations (e.g., LNG infrastructure builds referenced in upstream reports).

Market Takeaway: Downstream pricing is weak even as upstream activity remains disciplined; watch crude and gas benchmarks for next signals.

7) County/Region Highlights

Active / Steady

Core Utica Counties (e.g., Belmont, Monroe, Carroll): Activity sustained via permits and rigs, though not growing sharply.

No New Distinct Signals

Peripheral counties beyond core Utica focus (e.g., Southeast Ohio conventional plays) showed no specific newly reported developments in this period.

8) Forward Watch

ODNR Permit Report: Upcoming weekly ORC/ODNR permit release will clarify early‑Jan 2026 field authorization trends.
Rig Count Trends: Continued updates from Baker Hughes in the coming days will confirm whether Marcellus/Utica rig stability continues or adjusts.
Ascent / Operator Strategies: Corporate moves early in 2026 could crystallize into operational decisions affecting leasing, drilling targets, or capital allocation.

Bottom Line:Eastern & Southern Ohio’s oil & gas sector enters early 2026 with steady drilling activity and measured permitting, flat but firm rig counts, ongoing corporate strategy narratives (notably around Ascent), and regulatory noise but no disruptive shifts. Downstream price weakness contrasts with disciplined upstream behavior, a dynamic worth watching in the next pulse.