Antero Midstream IPO Hauls in $1B, Stock Trading High

Amidst the flurry of news about third quarter updates, we almost overlooked one important piece of news about Marcellus/Utica driller Antero Resources. As you may recall, Antero floated an initial public offering (IPO) of stock last year hoping to raise $1.4 billion. They got $1.57 billion (see Antero’s IPO Fetches $1.57B, Company Valued at $11B!). Just a few weeks ago Antero announced they were spinning off their midstream operation into its own company and floating an IPO for that new entity--hoping to raise nearly $1 billion more (see Antero Resources Launches Midstream IPO, Seeks $1B+). We're happy to report--mission accomplished. Antero reported earlier this week they sold 40 million "units" (think shares of stock) for $25 each, which is higher than they were hoping--bringing in $1 billion...

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