Antero to acquire 55,000 net acres in the core of the Marcellus Shale

Industry:    2016-06-10

Antero Resources Corp

* Antero resources to acquire 55,000 net acres in the core of the Marcellus Shale

* Deal for $450 million

* Antero is increasing its 2017 production growth target to a range of 20 pct to 25 pct

* Transaction includes 33,000 net acres of core Marcellus Leasehold in Wetzel County

* 3rd party has 30-day tag along option to sell remaining 19 pct average working interest in acquired properties to antero

* If tag along option is exercised by third party, adjusted acquisition price is estimated to be $560 million

* Expect to add an additional rig in second half of year

* Expect to further consolidate acreage in Wetzel County

* Antero has agreed to acquire approximately 55,000 net acres of undeveloped Marcellus Shale Leasehold

* Expect to add rig in second half of year while maintaining our original drilling and completion budget of $1.3 billion

* “we believe we can generate 20 pct to 25 pct year-over-year growth 2017 with a minimal increase to 2017 drilling and completion capital budget” Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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