Antero 4Q: HG Energy Purchase Propels Co. from 3.4 to 4.2 Bcfe/d
Antero Resources, the largest Marcellus/Utica (M-U) driller in West Virginia, released its Q4 2025 update yesterday. In 2025, Antero Resources underwent a “transformational expansion” highlighted by the acquisition of HG Energy, the largest acquisition in Antero’s history, which the company closed on just last week (see Antero Closes on Buying HG Energy for $2.8B, Borrows $1.5B from RBC). CEO Michael Kennedy noted that this move, along with increased well interests, significantly increases the company’s scale and dry-gas exposure in West Virginia. Read More “Antero 4Q: HG Energy Purchase Propels Co. from 3.4 to 4.2 Bcfe/d”
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 $3.9 billion, paying $2.8 billion for upstream and $1.1 billion for midstream (see 
A nice bump up in permit numbers last week, mainly due to Pennsylvania. The Marcellus/Utica region received a combined 27 permits last week, Jan. 12 – 18. Pennsylvania issued 21 new permits, Ohio issued 5, and West Virginia issued just 1. Among the drillers receiving new permits last week: Antero Resources, Coterra Energy, EQT, Expand Energy, Gulfport Energy, and Seneca Resources. 
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 
Two weeks ago, 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 
Volatility is the watchword for new permits in the Marcellus/Utica. Three weeks ago, the combined count between Pennsylvania, Ohio, and West Virginia was a measly 8 new permits (see 
Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is growing its WV operations. This morning, the company announced a deal to buy privately held WV driller and midstreamer HG Energy II for a combined (upstream & midstream) $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 upstream part of the deal will fetch $2.8 billion, while the midstream will get $1.1 billion. HG Energy is a West Virginia corporation with its headquarters office located in Parkersburg. 
The second round of big news coming from Antero Resources today is the sale of the company’s Utica Shale assets. We told you in November that Antero, the largest Marcellus/Utica (M-U) driller in West Virginia, officially began to market its Ohio Utica assets for sale (see 
In Q3 2025, U.S. E&Ps (drillers) successfully leveraged rigorous cost-cutting and capital discipline to maintain stable earnings despite commodity price volatility. With lifting costs down 16% since mid-2022, producers offset revenue pressures through efficiency and consolidation. RBN Energy reports that performance diverged by sector in 3Q: oil-weighted producers saw earnings rise 19% on stabilized crude prices and reduced impairments, while gas-weighted peers suffered a 27% earnings slump due to lower realizations. Total production increased 4.7%, mainly driven by oil majors. Looking ahead to Q4, the outlook shifts; oil producers face headwinds as prices dip toward $60/bbl, while natural gas producers anticipate a strong finish fueled by winter demand and rising Henry Hub prices.