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Antero Resources to buy Marcellus acreage from Southwestern for $450M

Jun. 09, 2016 4:48 PM ETAntero Resources Corporation (AR) StockBy: Carl Surran, SA News Editor24 Comments
  • Antero Resources (NYSE:AR) -2.5% AH after agreeing to acquire 55K net acres and 14M cfe/day of net production in West Virginia's Marcellus Shale from Southwestern Energy (SWN) for $450M.
  • AR says substantially all the acreage will be dedicated to Antero Midstream Partners (AM) for gas gathering, compression, processing and water services.
  • To fund the deal, AR announces a public offering of 26.75M common shares, with an underwriters option to purchase up to an additional ~4M shares.
  • SWN says it plans to use the cash from the deal to reduce the principal balance of its $750M term loan due in November 2018.

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