Antero to sell assets in Marcellus, Utica shales
Friday, December 13, 2019
Antero Resources Corp. plans to sell between $750 million and $1 billion in assets in 2020 in an effort to reduce its debt, according to the Pittsburg Business Times.
The company has 584,000 net acres in Appalachia and produces 3.4 billion cubic feet of natural gas per day. It’s the largest producer in West Virginia and also has a presence in Pennsylvania.
Antero plans to commence its asset sales with a $100 million sale of Antero Midstream common stock to Antero Midstream, part of its $715 million stake in Antero Midstream. Additionally, it will cut $375 million in Antero’s capital and operating budgets in 2020.
Learn more: Pittsburg Business Times > Another driller plans to sell assets in Marcellus, Utica
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Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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