Antero Resources

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…
Read More “Antero Signs Deal to Export Marcellus/Utica Ethane to Sweden”
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…
Read More “Antero Resources 2Q14: Gas Production Doubles, NGLs Quadruple”
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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Antero Resources | Energy Companies

Antero Resources 1Q14: Production Up 105%, Earnings Down $95M
May 8, 2014May 8, 2014

Antero Resources released their first quarter 2014 update yesterday. Antero is a big and important driller in both the Marcellus and Utica Shale region–particularly in the wet gas areas of West Virginia and eastern Ohio. Antero reports daily gas equivalent (converting liquids to gas) production reached an average 786 million cubic feet equivalent per day (MMcfe/d) in the first quarter, up a healthy 105% from first quarter in 2013. They’re also producing more liquids than ever–16,332 barrrels per day, a 583% increase over 1Q13. On the down side, they report a net loss from operations of $95 million for 1Q14–mostly due to hedging in the financial markets. If you took away the hedging losses, net income would have been up $88 million, or 225% over 1Q13.

In the update below Antero talks about their recent lease acquisition of Piedmont Lake in Ohio’s Utica Shale, and about the recent announcement (from two days ago) that they have committed to another 200 million cubic feet per day of processing capacity at MarkWest’s Sherwood facility in Doddridge County, WV. Here’s the update…
Read More “Antero Resources 1Q14: Production Up 105%, Earnings Down $95M”
Antero Resources | Doddridge County | Energy Companies | Energy Services | EQT Corp | Industrywide Issues | MarkWest Energy | Processing Plants | West Virginia | Wetzel County

MarkWest Announces 2 Processing Plant Expansions in WV, 400 Mmcf/d
May 7, 2014May 7, 2014

Yesterday MarkWest Energy, arguably the biggest midstream company in the Marcellus and Utica Shale, announced it will expand two of its existing natural gas processing plants, both plants in West Virginia. At the request of Antero Resources, MarkWest will expand the Sherwood plant in Doddridge County by an extra 200 million cubic feet per day (Mmcf/d) of processing capacity. At the request of EQT, MarkWest will expand the processing capacity at the Mobley plant in Wetzel County by an additional 200 Mmcf/d. It means that Marcellus drillers are confident enough to bet big money on long-term contracts with MarkWest that the amount of gas they’re producing is going up–for years to come.

In yesterday’s announcement MarkWest noted that they currently have 17 major projects under way in the Marcellus/Utica, and that 11 of those projects will be completed this year. Here’s the details on the Sherwood and Mobley expansions…
Read More “MarkWest Announces 2 Processing Plant Expansions in WV, 400 Mmcf/d”
Antero Resources | Belmont County | Energy Companies | Guernsey County | Harrison County | Lease & Royalty Payments | Ohio | Utica Shale

Antero Pays $15K/Acre, 20% Royalties for MWCD Piedmont Lake Lease
April 21, 2014April 21, 2014

All’s we can say is “WOW!” Last Friday the Muskingum Watershed Conservancy District (MWCD) signed another (new) lease with Antero Resources to lease more than 6,300 acres in and around Piedmont Lake, in Guernsey, Harrison and Belmont counties in Ohio. The land is in prime Utica Shale territory and Antero must have wanted it bad, because they paid a $15,000 per acre signing bonus. Plus 20% in royalties for anything produced from the land. That is, by far, the largest bonus payment we have ever heard of in the Marcellus and Utica region.

Landowners in the MWCD area should be thankful. Because of this deal and other leases signed by the MWCD, the rates landowners pay to the MWCD are going down–by 50%–starting next year. What a fantastic story where everyone wins. Landowners win with lower watershed fees, Antero wins by scoring what will no doubt be very productive property for shale wells, America wins with more (and cheaper) natural gas. There are no losers in this scenario. Here’s more on Friday’s meeting of the MWCD board and the decisions they made…
Read More “Antero Pays $15K/Acre, 20% Royalties for MWCD Piedmont Lake Lease”
Antero Resources | Energy Companies | Hydraulic Fracturing | Industrialization | Industrywide Issues | Noise | Ohio | Statewide OH | Trucking | Utica Shale

Is MWCD Lease for Piedmont Lake, OH with Antero a Good Thing?
April 15, 2014April 15, 2014

MDN previously reported that as early as this Friday the Muskingum Watershed Conservancy District (MWCD) will vote to approve a proposed lease that would allow Antero Resources to drill around, and even under, Piedmont Lake (see MWCD Close to Signing Utica Lease for Piedmont Lake, OH Property). We told you yesterday that a lawsuit to prevent drilling at another MWCD property–Seneca Lake–is proceeding, which begs the question, will something similar happen with the Piedmont Lake deal (see Anti-Drillers Win Minor Victory Against Muskingum Watershed Dist)?

MDN was contacted by a reader who lives in the Piedmont Lake area–Eric Fenster. Eric seems like a reasonable guy–not adamantly opposed to all shale drilling. But he is concerned about what may happen if Antero leases and begins to drill in the Piedmont Lake area. Eric tells MDN he lives a few miles from an active drill site (not under MWCD oversight) and has personally experienced 24/7 truck traffic, noise and flaring from that site. He’s not excited about more of it near where he lives. Eric’s chief concern is that the lease as proposed is essentially unenforceable when it comes to industrialization concerns like truck traffic, noise and lights. He believes the MWCD has the right to enter into the lease legally, but he views such an agreement as an abuse of MWCD’s stewardship and authority. We bring you Eric’s viewpoint (below) not because we agree or endorse it, but because he’s one of the few who respectfully wants to argue the opposing viewpoint and make a case for his views based on logic and reason. We appreciate that. You decide if his arguments have merit…
Read More “Is MWCD Lease for Piedmont Lake, OH with Antero a Good Thing?”
Antero Resources | Energy Companies | Lease & Royalty Payments | Ohio | Statewide OH | Utica Shale

More Info on MWCD Proposed Lease with Antero Resouces
April 15, 2014April 15, 2014

See our companion story today about the potential downsides to drilling around the 6,700-acre area around (and under) Piedmont Lake in Ohio. We also spotted a brief story the deal that stands a good chance of being signed on Friday. Here’s a status report…
Read More “More Info on MWCD Proposed Lease with Antero Resouces”
Antero Resources | Energy Companies | Energy Services | Industrywide Issues | Kinder Morgan | Pipelines | Statewide WV | Tennessee Gas Pipeline | West Virginia

Antero Resources Sops Up 100% of TGP Pipeline Expansion in WV
April 15, 2014April 15, 2014

Kinder Morgan announced they have a single customer that will use up 100% of the capacity for their Tennessee Gas Pipeline’s (TGP) Broad Run pipeline expansion in the West Virginia Marcellus. Antero Resources, a major Marcellus and Utica driller, has signed on with Kinder Morgan for 100% of the capacity in the Broad Run expansion–which amounts to 790,000 dekatherms per day. The contract will go for 15 years. Antero obviously plans to produce a great quantity of natural gas in the West Virginia Marcellus.

More of the details on the just-concluded open season for the Broad Run expansion project for the TGP:
Read More “Antero Resources Sops Up 100% of TGP Pipeline Expansion in WV”
Antero Resources | Anti-Drilling/Fossil Fuel | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Litigation | Ohio | Statewide OH | Utica Shale

Anti-Drillers Win Minor Victory Against Muskingum Watershed Dist
April 14, 2014April 14, 2014

Last October MDN told you about a lawsuit filed by a Guernsey County, OH couple seeking to stop drilling and fracking under Seneca Lake (Ohio). The Muskingum Watershed Conservancy District (MWCD) approved a $40.3 million lease with Antero Resources to allow drilling around and under 6,400 acres, including the Seneca Lake. It’s not surprising that the odious Food & Water Watch is behind the lawsuit (see Muskingum Watershed Taken to Court by Anti-Frackers (Yawn)). Last week a Franklin County judge ruled that the lawsuit brought by Leatra Harper and her husband Steven Janstro (strong anti-drillers) can move forward.

Below is the story of their minor victory, a decision that simply means the lawsuit continues, for now. However, it brings up an important issue. Later this week the MWCD is due to sign another lease with Antero–this one for drilling around and under 6,700 at Piedmont Lake (see MWCD Close to Signing Utica Lease for Piedmont Lake, OH Property). Will this small victory at Seneca Lake embolden the odious Food & Water Watch to find sympathetic, fossil fuel-hating landowners around Piedmont to stir up yet another new lawsuit?…
Read More “Anti-Drillers Win Minor Victory Against Muskingum Watershed Dist”
Antero Resources | Energy Companies

Antero Resources Update: Marcellus Nice & Gassy, Utica Nice & Wet
April 14, 2014April 14, 2014

Antero Resources is sharing some good news today about their operations and production. Year over year the company is producing 105% more daily gas equivalent production now than they did a year ago at this time–thanks in large part to the Marcellus and Utica Shale. Antero reports their Marcellus wells are nice and gassy (average 180-day production rate of 8.1 MMcfe/d, which is 25% above their other wells), and their Utica wells are nice and wet (average 30-day production rate of 15.3 MMcfe/d in ethane rejection, 50% liquids).

Antero is a major Marcellus and Utica driller–and one to watch. Here’s the latest update…
Read More “Antero Resources Update: Marcellus Nice & Gassy, Utica Nice & Wet”
Antero Resources | Braskem | Economic Impact | Energy Companies | Energy Services | Ethane | Industrywide Issues | Jobs | Odebrecht | Processing Plants | Statewide WV | West Virginia | Wood County

Antero to Provide 50% Ethane Needed at Parkersburg Cracker Plant
March 27, 2014March 27, 2014

The ethane cracker plant planned for Parkersburg (Wood County), WV, to be built by Odebrecht and operated by Odebrecht subsidiary Braskem America, took another giant step closer to reality yesterday. Powerhouse Marcellus/Utica driller Antero Resources announced they will provide 30,000 barrels per day of ethane for the proposed new plant when/if it gets built. That’s half of what the plant needs to operate. Antero Resources CEO Paul Rady was joined by Odebrecht VP of business development David Peebles on stage at the Marcellus to Manufacturing Ethane Development Conference at the Charleston Civic Center for the big announcement yesterday. WV Gov. Earl Ray Tomblin took to the stage to crow about the deal too (he’s earned the right).

It was just Monday of last week that MDN observed that the Odebrect cracker plant just “feels” like it’s going to happen (see Odebrecht’s WV Ethane Cracker has The Big Mo–Momentum). Yesterday’s Antero announcement is more evidence of that. Below is the official Antero announcement about their ethane contribution to the proposed new cracker, along with a report of who said what about the deal at yesterday’s Charleston conference…
Read More “Antero to Provide 50% Ethane Needed at Parkersburg Cracker Plant”
Antero Resources | Belmont County | Energy Companies | Guernsey County | Harrison County | Lease & Royalty Payments | Ohio | Utica Shale

MWCD Close to Signing Utica Lease for Piedmont Lake, OH Property
March 26, 2014March 26, 2014

In early January MDN brought you the delicious news that the Muskigum Watershed Conservancy District (MWCD) is planning to lease a large tract of District-owned land in and around Piedmont Lake (in Belmont, Guernsey and Harrison counties) for Utica Shale drilling (see MWCD Open House on Leasing Piedmont Lake Property for Drilling). The original 6,600 acres has now turned into 6,700 acres and the lessor will be Antero Resources, according to an announcement issued by the MWCD last Friday.

According to the MWCD board, they will likely vote on the lease at their next meeting scheduled for April 18. An update on the Piedmont Lake lease from the MWCD is below, along with the draft copy of the lease from Antero. Noticeably missing from the draft lease are the terms…
Read More “MWCD Close to Signing Utica Lease for Piedmont Lake, OH Property”
Antero Resources | Eclipse Resources | Energy Companies | Energy Services | EnLink Midstream | Ohio | PDC Energy | Statewide OH | Utica Shale

Some Utica Players Tip Their Hand on Plans for Next 3-5 Years
March 25, 2014March 25, 2014

Although drillers are often mum on future plans, some drillers (and midstream companies) who participated in the recent Ohio Oil & Gas Association (OOGA) annual winter meeting earlier this month were helpfully chatty about what’s coming in the Ohio Utica over the next few years.

Tom Knox, intrepid new reporter doing a great job at the Columbus Business Journal, was on hand at the OOGA meeting and took good notes. He reports on what PDC Energy, Antero Resources, Eclipse Resources and Enlink Midstream have planned in the next 3-5 years for the Utica…
Read More “Some Utica Players Tip Their Hand on Plans for Next 3-5 Years”
Antero Resources | Energy Companies | Gulfport Energy | Ohio | Statewide OH | Utica Shale

Antero Resources & Gulfport Energy’s Utica Shale High Notes
March 4, 2014March 4, 2014

In recent weeks as part of a flurry of year end and fourth quarter financial and operational reports, MDN brought you the latest news from Marcellus and Utica Shale powerhouse driller Antero Resources (see Antero Resources Keeps up the Pace in the Marcellus/Utica). We also told you the latest from Gulfport Energy, including our “takeaways” (see Gulfport Production & Profits Jump in 2013 Thanks to Utica Shale).

The Intelligencer/Wheeling News-Register reporter Casey Junkins has done a great job of summarizing the highlights from both companies–hitting the “high notes” as it were, particularly with respect to the Utica Shale–in the following update:
Read More “Antero Resources & Gulfport Energy’s Utica Shale High Notes”
Antero Resources | Energy Companies

Antero Resources Keeps up the Pace in the Marcellus/Utica
February 28, 2014February 28, 2014

Antero Resources, a very big driller in both the Marcellus and Utica Shale, and owner of the (so far) best initial performing well in the Utica (see Antero Resources Utica Well Produces Stratospheric 38.9 Mmcf/d), released their fourth quarter and full year 2013 financial and operational update yesterday. It’s long, and full of information. Below is the operations portion of the update. Antero is operating 15 drilling rigs in the Marcellus and 5 rigs in the Utica. They currently have 85 wells either being drilled, or waiting to be completed. They are a seriously big Marcellus/Utica driller that should be on your radar if you have an interest in northeastern shale drilling.

Here’s a small part of the Antero update for 2013:
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