Antero Resources

Antero Resources | CNG/LNG | Energy Companies | Energy Services | Exporting | Industrywide Issues | WGL Holdings

WGL & Antero to Provide Marcellus Gas to India via Cove Point
December 5, 2014December 5, 2014

An exciting announcement yesterday. You know that Dominion was given the green light in September and is now building an LNG (liquefied natural gas) export facility in Cove Point, Maryland (see Dominion Gets Final Fed Approval to Build Cove Point LNG Plant). Dominion has already lined up Japan and India to purchase all of the LNG the plant can produce. The question has remained, who will ship natural gas to the plant, and where will that gas come from? Stands to reason most of it (perhaps all of it) will come from the Marcellus and Utica. We previously told you that Cabot Oil & Gas is one of the suppliers–supplying 0.35 billion cubic feet per day (Bcf/d) of gas to Japan when the plant is up and operating (see Cabot Signs Deal to Export Gas via Cove Point, MD). We now know of the first official supplier for India: WGL Midstream, using Marcellus gas supplied by Antero Resources…
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Antero Resources | Energy Companies | Lease & Royalty Payments | Noble Energy | Tyler County | West Virginia

Record High Bid to Drill Under Bambi’s Home in Tyler County, WV
November 25, 2014November 25, 2014

Looks like drilling and fracking adjacent to, and underneath, the Ohio River isn’t the only state-owned asset West Virginia has in mind to raise revenue (see Gastar Wins Lease to Drill Under Ohio River in WV). Last Friday, WV opened bids that will allow drilling under the 518-acre Conaway Run Wildlife Management Area in Tyler County, WV. Yes, those heartless monsters want to allow drilling and fracking under Bambi’s home–can you believe it?! The bids received will make your eyes pop out–some of the highest (perhaps THE highest) amounts offered in a signing bonus to date…
Read More “Record High Bid to Drill Under Bambi’s Home in Tyler County, WV”
American Energy Partners | Antero Resources | Energy Companies | Gulfport Energy | Ohio | Statewide OH

Muskingum Watershed District Sells only 136M Gal of Water So Far
November 13, 2014November 13, 2014

The Muskingum Watershed Conservancy District (MWCD), organized in 1933 to reduce the effects of flooding and conserve water for beneficial public uses, oversees 16 dams and reservoirs across 22 counties in Ohio, covering 20% of the state. It is a massive area under the oversight and control of the MWCD. We’ve previously covered their deals with Antero Resources to lease District property for drilling. We’ve also covered District deals to sell water to Antero and other shale drillers (see Muskingum Watershed Votes to Sell 209M Gals of Water for Fracking). Although the district has voted to sell 209 million gallons of water, so far in 2014 they’ve only sold 136 million gallons–or the amount of water used in four days by the city of Akron, OH. According to officials with the MWCD, water sales have had a “negligible” impact on the reservoirs–lowering the several reservoirs used by less than 3/4 of an inch. MWCD lowers reservoirs more than that each year for winter anyway–so actually there’s been no impact, especially since much of the water sold flows through pipelines instead of tanker trucks…
Read More “Muskingum Watershed District Sells only 136M Gal of Water So Far”
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…
Read More “Antero’s Frack Wastewater Cleaned/Recycled by WV Startup”
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:
Read More “MDN Welcomes Antero Resources to the 1 Bcf/d Club”
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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