Antero Resources Corp. has sold a portion of its future Appalachian natural gas production to an affiliate of J.P. Morgan for $220 million as part of a broader effort announced last year to sell more assets and cut debt. 

Antero Resources Natural Gas Production

The volumetric production payment (VPP) completed with the bank is effective July 1 and will cover a seven-year term ending June 30, 2027. Under the deal, production sold to J.P. Morgan from the company’s dry gas properties in West Virginia includes 60 MMcf/d in the second half of 2020 and 75 MMcf/d in 2021. Volumes under the VPP then decline to 40 MMcf/d by the first half of 2027. 

Antero also said it would repurchase all of its 2021 senior notes and a portion of its 2022 and 2023 senior notes for up to $525 million. The cash tender offer, along with the...