Antero Completes Water Division Sale to Itself, Floats New Units

163435LOGOWhen you sell something to yourself, it doesn’t take nearly as long as selling it to someone else. One week ago MDN told you that Antero Resources (the drilling company) is selling their integrated water delivery business to Antero Midstream (subsidiary pipeline company) in what is called a “drop down” transaction (see Antero Sells Marcellus/Utica Water Business to Itself for $1.05B). Yesterday Antero announced the deal is now done. As part of the deal, Antero Midstream sold an additional 12.9 million units (think shares of stock) to investors, and issued 11 million units to parent company Antero Resources. Here’s the details on the deal and how it went down…

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