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Member Spotlight: Amanda Finn, Ascent Resources-Utica, LLC

Posted By Lyndsey Kleven, Communications Manager, Monday, August 27, 2018

 Background Information

Amanda Finn grew up in Mason Ohio just north of Cincinnati where she lived until her final year of high school. Just before starting her senior year, her parents moved the family to Oklahoma. That year proved to be a challenging time in 17 year old Finn’s life, which she managed to survive after realizing she was not required to ride a horse or live in a teepee (original dramatic thought of a 17 year old). She then moved on to attend Lindenwood University just outside of St. Louis, Missouri and graduated with Bachelor of Arts degree in Marketing. Immediately after school she started working for a local marketing research firm in St. Louis focusing on internal marketing and social media. This was a good role for a recent college graduate, where she remained for three years developing marketing strategies for major Midwestern clients.

With her parents move to Marietta, Ohio, a visit home sparked a change in career path that she was looking for. Finn met a local Ohio congressman and, after shadowing his D.C. fundraiser staffer, she was offered a position to move back to Ohio and start working as his director of finance. This opened the door to the state’s energy industry as Finn was meeting numerous people directly involved in oil and gas.  

Work History

In her fundraising role, Finn met the CEO of Magnum Hunter Resources Corporation, who presented an opportunity for Finn to leave the fundraising side of politics and make the leap over to government relations and community affairs. Having built a network in oil and gas while doing congressional fundraising, Finn felt ready to make this career shift. For the next two years, Finn was the Government Relations Manager for Magnum Hunter. During this time, she also focused on community relations and public relations throughout Ohio and West Virginia. During the oil and gas industry’s bust of 2016, Magnum Hunter filed for bankruptcy, in turn causing staff turnover. Finn then went on to Ascent Resources – Utica, LLC (“Ascent”) where she currently works as their Government Relations Manager.

“I think it’s addicting,” Finn described. “I think most people’s jobs get old and they just go through the daily motions. This industry is always something different, it’s always exciting, every day is something new and you have no idea what’s going to happen when you walk in the door. I think part of the allure of the industry is the many ebb-and-flows that keeps you on your toes and produces some of the best work ethic I’ve ever seen.”

Finn’s role at Ascent involves a variety of focuses, but a key piece is government relations. The job, which includes working individually and with OOGA involves educating and working with members of the General Assembly on key pieces of legislation, rules and regulations through the Ohio Department of Natural Resources (ODNR) and all aspects of community relations. This includes working with local township trustees, commissioners or mayors, along with land owner relations, mainly updating them on activities in the area and fielding any issues or complaints.  

“I think it’s challenging for some to understand or see the magnitude of the legislative process and why it is so important,” explained Finn. “These legislative initiatives and rules/regulations proposals are key to the industry continuing to operate at a safe and productive level in the future.”

Ascent Resources - Utica Overview

Ascent is headquartered in Oklahoma City, Oklahoma with about 240 employees based in that office; Finn works in the Cambridge field-office that has over 100 employees and is the largest office outside of the headquarters. In Ohio there is one other small office in St. Clairsville that focuses on Ascent’s dry gas operations. Finn described that Ascent hires primarily local contractors, with at least 80% of them coming from the tri-state region in Ohio, West Virginia and Pennsylvania.

Ascent is operating strongly in four Ohio counties that include Belmont, Harrison, Guernsey and Jefferson, and its recent acquisition of natural gas assets from CNX, Hess and UMD will expand its acreage position in Monroe and Noble Counties. Across these counties they have seven rigs running and four frac crews. Being the largest gas producer in Ohio, Ascent has nine of the top ten gas wells in the state according to the latest production figures released for Q1 of 2018.

“Legislatively we’ve achieved a lot in 2018 with HB 225 and HB 430 being signed and will become law later this year,” Finn said. “The affected mine legislation, SB 236 will be a focus in the next legislative session along with other initiatives that will be finalized in the next few months. Rules and regulations have been more of a struggle, with ODNR doing an overhaul of the rules package as part of their five year review process. Part of resolving this is to try to get everyone on the same page and ensure that they are interpreting the rules in a way that won’t create added frustrations to the producers.”  

Why OOGA

Finn initially became a member of the Ohio Oil and Gas Association in 2013 while she was in her fundraising role. When she started working at Magnum Hunter, one of the first things she did was make sure the company became more involved with the Association. She also stepped up her personal level of participation by joining the Government Affairs Committee and the Environmental Committee, later becoming chair of the Government Affairs Committee in 2016.

Finn carried this same attitude over to Ascent when she started her new position. Ascent upped its membership to the highest corporate level in order to get a wider reach of its staff members involved with the OOGA. They now have at least one employee on each committee that OOGA has available. Finn continues to chair the Government Affairs Committee and has expanded her involvement to include a Board of Trustees seat in 2017 and was recently appointed to the Executive Committee in 2018. She remains involved in other committees to keep Ascent up to speed on what is happening in the industry, and sits on the Environmental Committee, Communications Committee, Technical Committee and other work groups when necessary. 

“If you take advantage of your membership, it’s of huge benefit,” said Finn about her involvement among the Association. “If you participate in committees, pay attention, read the news clips and get engaged, you get as much out of it as you put in. For Ascent, I would not be able to do everything else I do if I didn’t have the legislative assistance OOGA provides. Having OOGA be that support system of representing us on a daily basis is of huge importance to Ascent.”

 

The member spotlight series features OOGA members making an impact with their membership. If you would like to recommend someone to be highlighted, please contact Lyndsey Kleven lyndsey@ooga.org

Tags:  Amanda Finn  Lyndsey Kleven  member spotlight  ohio oil and gas association  oil and gas  shale  utica 

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The Ramifications of Low Oil and Natural Gas Prices

Posted By Lyndsey Kleven, Communications Coordinator, Tuesday, December 8, 2015

Throughout 2015 we’ve seen a lot occur within Ohio’s oil and natural gas industry. The most radical change, noticeable to those working in the industry and any regular person, would be the staggering drop in commodity price—with multiple factors playing into what we’re currently seeing.

OPEC, making an effort to control market share, has contributed to the price rut created all across the United States on our domestic oil and natural gas industry. Decisions being made across the globe are having real life pricing implications right here in Ohio.

The effectiveness of our oil and gas producers is another piece of this. Looking at the industry as a whole, it has done such a good job at more effectively producing oil and natural gas in recent years that it has created an oversupply. Robust natural gas production has helped inventories soar to record highs we haven’t seen before.

New production is stalling as producers are responding to the current market conditions. Although overall production levels in the Utica Shale continue to rise (the latest ODNR Utica production report shows a Q3 2% increase in oil production and a 10% increase in natural gas production), the production is a result of wells that have been drilled and are now being completed or that now have access to pipelines that can finally move the commodity to market.

Simultaneously, there is still inadequate infrastructure to move the natural gas from our Appalachian Basin. Access is vital to oil and natural gas producers, as it is a key economic factor in a company’s decision to drill a well in certain areas. Without this access, the natural gas is either not produced (the well is not economic to drill) or produced and is consumed within the basin (which further depresses the commodity price the company receives).  

Finally, let’s look at where the domestic oil and natural gas industry was approximately ten years ago. In short, the opposite factors were in play. After Hurricanes Katrina and Rita struck in late 2005, natural gas was not as readily available and prices in this basin hovered around $12.00 per mcf. The price eventually receeded, in part, due to company’s expanding their drilling plans to increase the supply. Higher prices and lower supplies led to companies expanding their drilling plans. Conversely, lower prices and higher supplies lead to company’s contracting their drilling plans – which is what is generally happening for the Ohio producer.    

To recap, it’s a challenging time to be oil and gas producer in the midst of all these circumstances. It is a great time for Ohio consumers who are benefitting greatly with serious energy savings from the higher supplies and lower energy costs.

And the savings continue on products associated with this production. For example, gasoline prices have fallen to six year lows in Ohio. At Thanksgiving, some Ohio pumps were dipping under $1.50 a gallon. Consumers are expected to save a reported $7 billion at the pump during this holiday season, which translates out to about $40 per driver.

I’ve seen it myself in my monthly bills. My household’s monthly electric, natural gas, and gasoline expenses are at lows I haven’t seen in years. And for that I have to thank Ohio’s oil and gas producers. 

Tags:  drilling  natural gas  ohio oil and gas association  oil  shale 

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