Antero Resources

Antero Resources | Energy Companies

Antero Midstream IPO Hauls in $1B, Stock Trading High
November 7, 2014November 7, 2014

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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Antero Resources | Energy Companies

Antero 3Q14: Production Passes 1 Bcf/d; Adds 32K Acres in NE
November 6, 2014November 6, 2014

Antero Resources, one of the largest acreage holders and biggest drillers in the Marcellus/Utica region, issued their third quarter 2014 update yesterday. During 3Q14 the company added another 32,000 net acres in the core of the Marcellus and Utica Shale plays resulting in 520,000 total net acres in the Appalachian Basin. The company’s net daily gas equivalent production averaged 1.08 billion cubic feet per day, a 91% increase over the prior year quarter. They also floated an IPO for their midstream division hauling in a hefty $1 billion more in revenue…
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Antero Resources | Energy Companies | Industrywide Issues | Pipelines | Processing Plants

Antero Resources Launches Midstream IPO, Seeks $1B+
October 28, 2014October 28, 2014

Can Antero Resources do it again? A little over a year ago, in October 2013, Antero, one of the biggest players in the Marcellus/Utica Shale, floated an initial public offering (IPO) for the company, called “taking it public” because shares of stock will be owned and traded on a public stock exchange–and raised an incredible $1.57 billion (see Antero’s IPO Fetches $1.57B, Company Valued at $11B!). Antero is hoping lightening will strike twice, and indeed it may. Yesterday the company announced that it will spin off its midstream division into a new wholly-owned subsidiary, under a master limited partnership (MLP) structure, and offer “units” (think shares of stock) that will be publicly traded. The company plans to offer more than 43 million units to investors and if it gets the target $19-$21 per unit, the grand total will once again exceed $1 billion of new investment…
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Accidents | Antero Resources | Doddridge County | Energy Companies | Industrywide Issues | Regulation | West Virginia

Antero Gets 30 Day Extension to Fix Problems @ Doddridge Well Pad
October 27, 2014October 27, 2014

The West Virginia Dept. of Environmental Protection (WVDEP) has granted Antero Resources another 30 days to get problems under control at a well pad in Doddridge County, WV. You may recall Antero was drilling a new well and the borehole penetrated an existing well at the pad, creating problems with local water wells (see Antero Hits Producing Well Drilling New Well, Methane in Local Water). A “cease operations” order was issued on Sept. 26 and that order has been extended another month while Antero awaits test results from local water wells that were affected by the accident…
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Antero Resources | Energy Companies

Antero Resources’ Line of Credit Upped $1B to $4B
October 20, 2014October 20, 2014

One of the largest Marcellus/Utica drillers is Antero Resources. Last week we reported on Antero’s third quarter update in which they tout that by using shorter stage lengths (SSLs) when fracking wells has resulted in better producing wells (see Antero Resources 3Q14: Shorter Stage Lengths Yield 20-30% More Gas). Looks like Antero’s bankers liked that news too. They’ve just extended Antero’s credit line an extra $1 BILLION!…
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Antero Resources | Energy Companies

Antero Resources 3Q14: Shorter Stage Lengths Yield 20-30% More Gas
October 17, 2014October 17, 2014

Earlier this week Antero Resources, one of the largest drillers in the Marcellus/Utica, released their third quarter numbers along with an operational update. The company reports their new strategy of using shorter stage lengths (SSLs) when fracking wells has resulted in better producing wells–like 20-30% more productive than a non-SSL well. We’ve pulled out their operating update for both the Marcellus and Utica (an interesting read)…
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Antero Resources | Energy Companies | Hydraulic Fracturing | Industrywide Issues

Antero Resources Adopts Clean Fleet® Tech for Northeast Fracking
October 7, 2014October 7, 2014

Antero Resources, a major driller in both the Marcellus and Utica Shale, recently began using a new fracking technology from U.S. Well Services called Clean Fleet®. U.S. Well Services is making some pretty big claims with their new technology: significant cost savings for drillers (up to $40,000 per day!), a 99% reduction in air emissions and a “dramatic” decrease in the noise pollution. Certainly sounds like a winner! Here’s the announcement that Antero is now using Clean Fleet® for fracking…
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Antero Resources | Energy Companies | Harrison County | Industrywide Issues | Wastewater | West Virginia

Antero’s Frack Wastewater Cleaned/Recycled by WV Startup
October 7, 2014October 7, 2014

Chance Richie is a former officer on a U.S. nuclear submarine and the CEO and founder of Shalewater Solutions–a company started in 2011 that cleans and recycles frack wastewater in the Marcellus and Utica Shale. Richie’s company, located in Harrison County, WV, has landed one of the biggest drillers in the Marcellus/Utica–Antero Resources. The key to Shalewater’s approach is the fact that all wastewater is not the same. The chemical composition changes from driller to driller, site to site, and shale play to shale play…
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Accidents | Antero Resources | Doddridge County | Energy Companies | Industrywide Issues | West Virginia

Antero Hits Producing Well Drilling New Well, Methane in Local Water
October 1, 2014October 27, 2014

Antero Resources has been cited with a Notice of Violation (NOV) from the WV Dept. of Environmental Protection for breaching one of their own existing and producing shale wells when drilling another well on the same pad. The incident occurred at Antero’s five-well Primm Pad in Doddridge County, WV near West Union. While drilling a new well they poked a hole in an existing well and potentially in an abandoned well–meaning methane is now flowing to places it shouldn’t be flowing. The WVDEP has given Antero until today to get the situation under control. Unfortunately it looks like it may have affected (gulp) up to a dozen of the neighbors’ water wells with migrating methane…
Read More “Antero Hits Producing Well Drilling New Well, Methane in Local Water”
Antero Resources | Energy Companies | Gulfport Energy | Hall Drilling | Hess | Monroe County | Ohio | Utica Shale

OH Utica Shale’s Most Productive Wells in 2Q14
September 29, 2014September 29, 2014

Recently released production numbers from the Ohio Dept. of Natural Resources (ODNR) show a bit of a surprise. The single most productive Utica Shale well during second quarter 2014 (April – June) was from one of the smallest drillers. A well drilled by Hall Drilling (headquartered in West Virginia) in Monroe County, OH produced 1.43 billion cubic feet of natural gas during 2Q14. Other top-producing wells were drilled by Gulfport Energy, Antero Resources and Hess. Here’s some numbers…
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Antero Resources | Energy Companies | Ethane | Exporting | Industrywide Issues | Processing Plants

Antero Waits for NE Cracker Plants, Pipeline to Sell Ethane
September 2, 2014September 2, 2014

Antero Resources is a big and getting bigger driller focused on the Marcellus and Utica Shale region. The company now has 493,000 acres leased and projects they could potentially drill wells on up to 5,000 locations across that acreage (see Antero Boasts 5K Potential Drilling Locations in Marcellus/Utica). From the wells already drilled, Antero is now pumping (or close to pumping) 1 billion cubic feet of natural gas per day (see MDN Welcomes Antero Resources to the 1 Bcf/d Club). Since a lot of Antero’s operations are in the “wet gas” area, they also produce a lot of ethane. Right now that ethane is largely considered a “waste product” because they can’t readily sell it. However, that change. The question is, when?…
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Antero Resources | Energy Companies

MDN Welcomes Antero Resources to the 1 Bcf/d Club
August 28, 2014August 28, 2014

Earlier this month Antero Resources, a large and growing driller in the Marcellus and Utica Shale, provided their second quarter financial and operations update. At the time, MDN observed they are getting close to a very exclusive milestone–the 1 billion cubic feet per day of natural gas production–or the “1 Bcf/d Club”. So far only Cabot Oil & Gas, Range Resources and EQT are in the club. Earlier this week Antero issued a guidance update declaring they will hit the 1 Bcf/d level in the second half of this year. Antero has revised UP their “guidance” by another 5%–saying they expect to be at 990 – 1,010 MMcfe/d for the entire year, and well beyond the 1 Bcf/d level (1,160 MMcfe/d) during the second half of the year. So, MDN officially says to Antero: Welcome to the club! Here’s Antero’s extensive guidance update issued Tuesday:
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Antero Resources | Energy Companies

Antero Boasts 5K Potential Drilling Locations in Marcellus/Utica
August 26, 2014August 26, 2014

Antero Resources continues to impress. The company has now amassed 493,000 acres of leases in the Marcellus/Utica, which includes access to the Devonian layer as well. As we told you a month ago, their drilling program is rapidly expanding (see Antero Resources: Marcellus/Utica Program Going Gangbusters). And as we told you barley three weeks ago, they had a tremendous second quarter (see Antero Resources 2Q14: Gas Production Doubles, NGLs Quadruple). Following on their 2Q14 update, MDN has located a copy of the Antero PowerPoint slide deck, recently updated and jam-packed with charts and maps and graphs. One very interesting statistic is Antero’s 3P (proved, probable and possible) drilling locations…
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Antero Resources | Energy Companies | Energy Services | Ethane | Exporting | Industrywide Issues | Pipelines | Sunoco Logistics

Antero Signs Deal to Export Marcellus/Utica Ethane to Sweden
August 8, 2014August 8, 2014

Borealis AG, an Austrian petrochemical company (majority-owned by International Petroleum Investment Company (IPIC) of Abu Dhabi) announced yesterday that it has signed a deal with Marcellus and Utica Shale powerhouse driller Antero Resources to buy some of Antero’s Utica/Marcellus ethane. The ethane will be pipelined to the Marcus Hook refinery near Philadelphia via the Sunoco Logistics Mariner East Pipeline. That’s if Sunoco can get the Mariner East Pipeline operating, given the current legal entanglements (see Setback for Mariner East NGL Pipe – Judges Say Not Public Utility). From Philly, the ethane will be loaded on container ships and sent to a Borealis ethane cracker plant in Stenungsund, Sweden…
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Antero Resources | Energy Companies

Antero Resources 2Q14: Gas Production Doubles, NGLs Quadruple
August 8, 2014August 8, 2014

Antero Resources, one of the biggest drillers in the Marcellus/Utica, had a very impressive second quarter 2014. The company reported on Wednesday that 2Q14 production for natural gas and equivalents was up an impressive 94% over the same period last year–to 891 million cubic feet per day. Closing in on that elite 1 Bcf/d Club! Antero’s natural gas liquids production was 20,237 Bbl/d, an astonishing 387% increase over the same period last year. Antero now has deals to sell ethane to three different cracker plants–two in the northeast and one in Sweden (see today’s story on that)–as well as agreements to sell natural gas to Cheniere Energy’s Sabine Pass LNG export facility. It’s all Marcellus/Utica and all cylinders firing for Antero…
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Antero Resources | Energy Companies | Industrywide Issues | Reserves (Proved and Unproved) | Utica Shale

Antero Resources: Marcellus/Utica Program Going Gangbusters
July 17, 2014July 17, 2014

Antero Resources, now with 488,000 acres of leased land in the Marcellus/Utica region, issued a very impressive update yesterday. According to the update, Antero is running 15 drilling rigs in the Marcellus and 5 rigs in the Utica. Some 26% of their acreage is now classified as “proved reserves.” Those proven reserves have risen by 19%–to 9.1 trillion cubic feet (13% liquids) from year-end 2013 numbers. Wow! They drilled and completed 22 Utica wells (added them to proved developed reserves) in the first six months of 2014. Those wells include: 4 rich gas (1100-1200 Btu), 2 highly-rich gas (1200 to 1225 Btu), 3 highly-rich gas/condensate (1225 to 1250 Btu) and 13 condensate (1250 to 1300 Btu) wells. Here’s the very full and rich update from Antero:
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