Ascent Resources Appoints Brooks Shughart as New CEO Following Jeffrey Fisher's Retirement

Ascent Resources Announces Leadership Transition

On January 5, 2026, Ascent Resources, LLC, a key player in the natural gas industry, revealed the retirement of its long-serving CEO, Jeffrey A. Fisher, effective January 31, 2026. The announcement signals a pivotal change for the company as Brooks M. Shughart steps in to take over the role of Chief Executive Officer after Fisher's decade-long tenure.

Fisher, who has been at the helm of Ascent for over 11 years, expressed deep gratitude for his time leading the organization. In a statement, he highlighted the exceptional assets and talented workforce at Ascent, expressing confidence in the company’s future. Fisher emphasized his plans to focus more on family and personal pursuits after stepping down from his executive position. In a supportive role, he will remain connected with the company as a Special Advisor to management and the Board until the end of 2026. This arrangement is intended to facilitate a smooth transition and ensure continued guidance for the leadership team.

The succession has been a well-planned process, overseen by the Board of Managers and the Compensation Committee, aimed at ensuring stability and ongoing success for the company. Shughart, who previously held the position of President and CFO, brings over a decade of experience on Ascent's Board of Managers, making him well-equipped to lead the company forward. Following his transition to CEO, he will also retain the title of CFO until a successor is appointed.

“I am deeply honored to take on the CEO position at Ascent Resources,” said Shughart. He recognized the invaluable insights gained from working alongside Fisher and assured stakeholders of his commitment to leading Ascent effectively. Shughart’s familiarity with the organization is expected to facilitate a seamless continuation of its strategic operations.

The transition comes with high expectations from the Board of Managers, and they expressed their gratitude for Fisher's leadership during a transformative era for the company. Alex T. Krueger, Chairman of the Compensation Committee, acknowledged Fisher's dedication and praised Shughart's potential to continue driving growth.

Under Fisher’s stewardship, Ascent has grown to become one of the largest independent natural gas producers in the United States, with significant operations focused in the Utica Shale formation in southern Ohio. The company’s commitment to environmentally responsible practices has put it at the forefront of the energy sector, providing cleaner-burning natural gas while reducing its ecological footprint.

As Shughart prepares for his new role, the leadership team remains steadfast in its mission to elevate Ascent's operational and financial success. Vice Chairman John T. Raymond conveyed his confidence in Brooks' capabilities, underscoring the Board and key equity owners’ support for the new leadership. This transition marks not only an end to an era but also a promising new chapter for Ascent Resources.

In closing, Ascent Resources emphasizes its long-term vision, focusing on sustainable practices and stakeholder value, as it ventures forward into the future under new leadership. The company is expected to continue its trajectory of success and innovation, reinforcing its position in the competitive energy market.

For inquiries, contact Chris Benton, Vice President of Finance and Investor Relations, at 405-252-7850 or via email at [email protected].