Antero Floats $750M in IOUs to Help Fund Purchase of HG Energy

In December, MDN brought you the news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, had cut a deal to buy WV driller and midstreamer HG Energy II for a combined (upstream & midstream) $3.9 billion (see Antero Resources Buys HG Energy II in Deal Worth $3.9 Billion). The deal will add a massive 385,000 net acres to Antero’s existing ~475,000 net core Marcellus acreage position, bringing with it another 850 MMcfe/d in production. The same day, we told you that Antero was selling its considerable Ohio Utica assets for $1.2 billion, which will help fund the purchase (see NOG & INR Partner to Buy Antero Resources’ Ohio Utica for $1.2B). The company still needs cash to buy HG Energy, so on Tuesday, Antero announced it will issue a new round of IOUs ("senior notes") to raise another $750 million.

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