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Prometheus' LNG to Fuel Antero Rigs in Marcellus, Utica

Prometheus Energy Group Inc. announced that it had signed a multi-year agreement to supply Antero Resources with enough liquefied natural gas (LNG) to power "a significant portion" of Antero's natural gas-fueled drilling rigs in the Marcellus and Utica shales.

Houston-based Prometheus, a leading supplier of LNG to industrial clients, said it will supply LNG, handle logistics delivery and provide onsite LNG equipment for storage and regasification at an unspecified number of Antero drilling sites in northern West Virginia and eastern Ohio. Prometheus will also provide on-site technical support.

The company did not disclose financial terms of the deal with Denver-based Antero.

"Prometheus Energy enables oil and gas companies to ideally position themselves for LNG transition when appropriate, by offering an integrated approach in reducing emissions in an economically attractive, low-risk, and technically feasible manner," said Prometheus CEO Jim Aivalis. "We are excited to be partnering with Antero, a well-respected operator as well as an obvious innovator in terms of its major commitment to natural gas for clean power in its oil and gas operations."

Last fall, Seneca Resources Corp., the exploration and production unit of National Fuel Gas Co., announced plans to continue shifting from diesel-powered to LNG-powered drilling rigs in the Marcellus Shale (see Shale DailyOct. 29, 2012). At that time, Prometheus announced that it would also provide LNG, equipment and support to Seneca in a multi-year deal.

 Antero said it plans to use conditioned field gas, as well as LNG, to power its drilling and hydraulic fracturing (fracking) operations in the Marcellus and Utica shales. Antero, now backed by Warburg Pincus LLC, launched a nearly $1 billion initial public offering to go public in June (see Shale DailyJune 17).

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