Southwestern selling WV acreage to Antero--buying high, selling low?
- 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 (NYSE:SWN) for $450M.
- AR says substantially all the acreage will be dedicated to Antero Midstream Partners (NYSE: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.
The acquisition includes undeveloped properties located primarily in Wetzel, Tyler and Doddridge Counties in West Virginia; per Yahoo
Views: 628
Replies to This Discussion
-
Permalink Reply by Joseph-Ohio on -
How about buying high - selling low(er) - keeping a percentile interest (but perhaps not an operating interest) ?
Might make alot of sense.
-
Permalink Reply by Mike Murphy on
-
yep CHK has a percentage SWN has a percentage now Antero has control .....wonder who they will sell it too and keep a percentage
Top Content
Latest Activity
- Top News
- Everything
john w. howard replied to john w. howard's discussion 'Despite Biden, E&P Companies Are Showing Record Profits'
© 2024 Created by Keith Mauck (Site Publisher).
Powered by
