Appalachian heavyweight Antero Resources LLC has opened its doors to public investment after gaining approval to launch an initial public offering (IPO) of 30 million shares, or more, of common stock.
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Articles from Antero
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.
Antero Bets on Appalachian Water Delivery Pipe System
Antero Resources LLC, now preparing to become a publicly traded explorer, already oversees one of the biggest operations in the Appalachian Basin, and it wants to keep it that way by building a 150-mile-long water sourcing and distribution pipeline that would feed drilling sites across West Virginia and into Ohio.
West Virginia Supreme Court Asked to Rule in Surface Rights Case
A district court judge wants the highest court in West Virginia, the Supreme Court of Appeals, to certify whether existing state law allows a company to drill on land where it doesn’t own the surface rights, but it owns the underlying mineral rights.
Range Takes Aim at Pennsylvania Lawmaker Over E-Mails
Pennsylvania state Rep. Jesse White (D-Cecil), who has frequently voiced his opposition to the state’s omnibus Marcellus Shale law and the potential impacts of gas drilling in the state, sent e-mails to Range Resources Inc. — the largest driller in his home county — asking for campaign contributions and a ride to the 2011 Superbowl on Range’s corporate plane.
Industry Briefs
Houston-based Vanguard Natural Resources LLC has closed on its acquisition of natural gas and liquids assets in the Arkoma Basin from Antero Resources for an adjusted price of $434.4 million, subject to post-closing adjustments. The effective date is April 1, 2012. The deal was announced early last month (see Shale Daily, June 5). Vanguard funded the acquisition with borrowings under its existing reserve-based credit facility. The borrowing base was increased from $670 million to $975 million in connection with an interim borrowing base redetermination to include the properties from the acquisition. Updated 2012 production and financial results guidance will be included with second quarter results, which are expected to be released on Aug. 2.
MarkWest Buys Appalachian System, Pledges to Expand
MarkWest Energy Partners LP is building out its services for Appalachian rich-gas producers with the $512 million acquisition of Pennsylvania-based Keystone Midstream Services LLC.