Sale of integrated water business to Antero Midstream Partners LP
Baird served as financial advisor to the Special Committee of the Board of Directors of Antero Resources Corporation
AboutAntero Resources Corporation (“Antero Resources” or the “Company”) (NYSE: AR) recently announced Antero Midstream Partners LP's (“Antero Midstream” or the “Partnership”) (NYSE: AM) acquisition of Antero Resources’ integrated water business for an aggregate $1.05 billion in a combination of cash, assumed debt and Antero Midstream common units. In addition, Antero Resources is entitled to receive two potential $125 million earn-out payments at year-end 2019 and 2020 if certain fresh water volumetric delivery targets are met. The acquisition includes Antero Resources’ fresh water delivery business, together with an exclusive right to provide fresh water for the Company’s well completion operations in West Virginia and Ohio, the to-be-constructed advanced wastewater treatment complex and the exclusive right to provide fluid handling and disposal services for Antero Resources.
Antero Resources is an independent oil and natural gas company engaged in the exploration, development and acquisition of natural gas, NGLs and oil properties located in the Appalachian Basin. The Company focuses on unconventional reservoirs and holds approximately 543,000 net acres of oil and gas properties located in West Virginia, Ohio and Pennsylvania. Antero Resources is headquartered in Denver, Colorado.
Antero Midstream is a growth-oriented limited partnership formed by Antero Resources to own, operate and develop midstream energy assets to service Antero Resources’ rapidly increasing production. The Partnership’s assets are located in the Marcellus Shale in northwest West Virginia and the Utica Shale in southern Ohio. Antero Midstream is headquartered in Denver, Colorado.
For additional information about this transaction, please contact:
- September 2015
- Antero Resources Corporation
- Target Location
- North America
- Acquiror Location
- North America