Antero Resources

Antero Resources | Energy Companies | Lease & Royalty Payments | Monroe County | Utica Shale | West Virginia

WVU Prof Says Antero Well will Generate $300K Revenue…Per Day!
August 30, 2013August 30, 2013

The Yontz 1H well may not produce at these unheard-of levels for an extended period, but heck, if a gas well is bringing in $300,000 per day in revenue, it doesn’t have to last long! That’s the staggering amount of revenue that a West Virginia University professor predicts will be produced by the monster well recently drilled by Antero Resources in Monroe County, WV (see Antero Resources Utica Well Produces Stratospheric 38.9 Mmcf/d). At the rate the gas and gas liquids are flowing from the well right now, it will bring in over $2 million per week in revenue for Antero. If royalties are 20% for the landowner, that’s $400,000 per week for the Yontz family!

With those kinds of numbers, no wonder Antero is willing to “roll the dice” and spend a half billion dollars to build a new water pipeline (see Antero Resources Rolls Dice on 1/2 Billion Dollar Marcellus Pipe)…
Read More “WVU Prof Says Antero Well will Generate $300K Revenue…Per Day!”
Antero Resources | Energy Companies | Monroe County | Ohio | Utica Shale

Antero Resources Utica Well Produces Stratospheric 38.9 Mmcf/d
August 29, 2013

Somehow the following news (now a few weeks old) slipped by our usually-good radar. Antero Resources has taken the top spot away from Gulfport Energy as having the most productive Utica Shale well in Ohio. Gulfport had what was dubbed their “alpha dog” well, the Wagner 1-H well producing 14 million cubic feet of natural gas per day (Mmcf/d). Then came Gulfport’s Shugert 1-1H, which MDN dubbed the “King of Utica Shale wells” producing a whopping 20 Mmcf/d. After that was the Shugert 1-12H well, sister well to the 1-1H. We called that one “the Emperor well” producing 28.5 Mmcf/d (see Gulfport’s New Utica Well Produces Mind-blowing 28.5 Mmcf/d!).

We’re now officially out of metaphors and labels. Antero Resources’ Yontz Utica Shale well recently saw a peak rate of a truly mind-blowing 38.9 Mmcf/d. Gulfport’s Shugert wells are in Belmont County. The Yontz well is located in Monroe County, just south of Belmont…
Read More “Antero Resources Utica Well Produces Stratospheric 38.9 Mmcf/d”
Antero Resources | Energy Companies | Hydraulic Fracturing | Industrywide Issues

Prometheus to Supply Antero Resources with LNG for Drilling Rigs
August 20, 2013August 20, 2013

In April MDN told you that Antero Resources was the second Marcellus/Utica Shale driller that would convert its drilling rigs to run on 100% liquefied natural gas, or LNG (see Antero Res 2nd Marcellus Driller to Use 100% NatGas Rig Engines). Seems Antero now has a supplier that will deliver the LNG and the necessary equipment to Antero’s drill sites to power those rigs. That supplier is Prometheus Energy Group…
Read More “Prometheus to Supply Antero Resources with LNG for Drilling Rigs”
Antero Resources | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pipelines | Ritchie County | Statewide WV | Tyler County | West Virginia

More on that Half Billion Dollar Antero Water Pipeline in WV
August 20, 2013August 20, 2013

We have a few more helpful details on Antero’s project to build an 80-mile water pipeline from the Ohio River to Tyler and Ritchie counties in West Virginia. The project has been approved and will cost Antero $525 million (that’s over half a billion). However, when complete, the new pipeline and other infrastructure Antero has and is building will reduce their cost to drill a well by $600,000. They plan to drill some 30% of their wells this year using water from this project, and 90% of the wells they drill in 2014.

More information about the project, which Antero has been tight-lipped about:
Read More “More on that Half Billion Dollar Antero Water Pipeline in WV”
Accidents | Antero Resources | Energy Companies | Harrison County | Industrywide Issues | West Virginia

Explosion at Antero Resources Drill Pad in Harrison County, WV
August 20, 2013August 20, 2013

Our sincere apologies: The explosion in Harrison County, WV is OLD news and was somehow recirculated. We pride ourselves on “getting it right” and not making these kinds of errors. This time we blew it. Again, apologies.
Antero Resources | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Ohio | Pipelines | Statewide OH | Statewide WV | West Virginia

Antero Resources Rolls Dice on 1/2 Billion Dollar Marcellus Pipe
August 14, 2013August 14, 2013

According to a story in The Wall Street Journal, Antero Resources will spend half a billion dollars to construct an 80-mile pipeline in the Marcellus/Utica Shale region. But this rather expensive pipeline will not carry natural gas, gas liquids or even oil. Instead, it’s a pipeline that will deliver water from the Ohio River to some of Antero’s most active drilling locations scattered in West Virginia and Ohio–to be used for fracking.

For Antero with some 100K acres of leased land in the Marcellus, committing to half a billion dollars (the company grossed $265 million last year) is a huge roll of the dice…
Read More “Antero Resources Rolls Dice on 1/2 Billion Dollar Marcellus Pipe”
Accidents | Antero Resources | Doddridge County | Energy Companies | Industrywide Issues | West Virginia

Antero Given Green Light to Resume Drilling at WV Blast Site
August 12, 2013August 12, 2013

In early July, MDN told you about an explosion at an Antero Resources drillpad in Doddridge County, WV (see Update on Antero Well Explosion in Doddridge County, WV). Half a dozen workers were injured in the resulting fire. Sadly, two of those workers recently died from their injuries.

We now know what caused the blast: open hatches on a number of wastewater tanks that allowed gas to build up, which led to a flash fire. The WV Dept. of Environmental Protection (DEP) shut down drilling at the site after the fire to investigate. The DEP is now satisfied that Antero knows what happened and has put in place measures to prevent it from happening again, so the DEP has just lifted the “cease operations” order. Antero is now free to resume drilling at the site…
Read More “Antero Given Green Light to Resume Drilling at WV Blast Site”
Antero Resources | Energy Companies | Industrywide Issues | Reserves (Proved and Unproved)

Antero Resources: Proved Reserves Up 47% from December
July 30, 2013July 30, 2013

Major Marcellus Shale driller Antero Resources announced yesterday that their “proved reserves” are up a healthy 47% from the end of last year–to 6.3 trillion cubic feet equivalent. If you look at their 3P reserves–proved, probably and possible–the number is 27.7 trillion cubic feet. Keeping an eye on a company’s reserves is important to know how much gas they will likely produce. It’s a measure often used by stock analysts and investors, but it’s a metric worth minding for landowners too. The numbers indicate what Antero says is in the ground, how much of it is there, and how healthy the company’s balance sheet is likely to look in the coming next few years.

Antero’s announcement from yesterday, with details about what makes up the reserve number (methane, ethane, etc.):
Read More “Antero Resources: Proved Reserves Up 47% from December”
Antero Resources | Energy Companies | Guernsey County | Noble County | Ohio | Utica Shale

MWCD to Sell 138M Gallons of Seneca Lake Water for Utica Drilling
July 22, 2013July 22, 2013

Last February, the Muskingum Watershed Conservancy District (MWCD) signed a lease with Antero Resources to lease 6,700 acres under and around Seneca Lake. The MWCD got a $40.3 million signing bonus, plus 20% royalties (see Muskingum Watershed District Signs with Antero for $40.3M Bonus). Last week, the MWCD voted to sell up to 138 million gallons of water from Seneca Lake to Antero so they can use it in their drilling and fracking operations, making another potential $828,000.

We’ll lease you the land and sell you the water to drill it too. Cool…
Read More “MWCD to Sell 138M Gallons of Seneca Lake Water for Utica Drilling”
Antero Resources | Energy Companies

Antero Resources Expands Credit Line by $250M for More Drilling
July 17, 2013July 17, 2013

Antero Resources is a major Marcellus and Utica Shale driller, headquartered in Denver, CO. Last Friday, Antero announced they’ve upped their credit line with a banking syndicate by an additional $250 million (their full credit line is now $1.45 billion). They hint that they may expand their line of credit to the “full $1.75 billion borrowing base” in the future.

Here’s the announcement that Antero now has more cash to help with drilling in the Marcellus/Utica:
Read More “Antero Resources Expands Credit Line by $250M for More Drilling”
Antero Resources | Energy Companies | Energy Services | Industrywide Issues | Noble County | Ohio | Pipelines | Rockies Express Pipeline | Utica Shale

REX Reverses Pipeline Flow from OH for Mystery Utica Customer
July 16, 2013July 16, 2013

What a difference a year makes. Last August, RBN Energy President Rusty Braziel said the Rockies Express Pipeline (REX), which originates in Rio Blanco County, Colorado and sends gas to Monroe County, Ohio, was in danger of drying up because there’s so much shale gas coming from the Marcellus. His prescription? Turn it around and send gas the other way (see REX NatGas Pipeline Faces Stiff Competition from Marcellus). Looks like REX has taken Rusty’s advice.

In a press release issued yesterday, REX announced they have a binding agreement with an unnamed “large Utica Shale producer” who wants to use the pipeline to ship 200,000 decatherms of processed natural gas per day to the Midcontinent region of the country. That is, REX is reversing the flow for at least part of the pipeline. And who might the unnamed “mystery” producer be? We think we know…
Read More “REX Reverses Pipeline Flow from OH for Mystery Utica Customer”
Accidents | Antero Resources | Doddridge County | Energy Companies | Industrywide Issues | West Virginia

Update on Antero Well Explosion in Doddridge County, WV
July 9, 2013July 9, 2013

Yesterday, MDN told you about the well site explosion in Doddridge County, WV (see Well Explosion in Doddridge County, WV Injures 8 People). Depending on the news source, the number of people injured is anywhere from five to eight, and we still don’t know exactly what happened. But we do know (or suspect) a bit more: there was no fracking going on at the time of the explosion, and the explosion did not involve the drilling rig. It appears it had to do with a malfunctioning water pump being used to pump well logging tools out the borehole.

The latest from West Virginia Metro News:
Read More “Update on Antero Well Explosion in Doddridge County, WV”
Accidents | Antero Resources | Doddridge County | Energy Companies | Industrywide Issues | West Virginia

Well Explosion in Doddridge County, WV Injures 8 People
July 8, 2013July 8, 2013

Shale drilling is an industrial process and accidents happen–it’s inevitable. Still, it’s sad when it does happen. Early Sunday morning there was an explosion at an Antero Resources drilling site in Doddridge County, WV injuring eight people–four of whom were airlifted to West Penn Hospital’s burn center in Pittsburgh.

The very scant details as we now them right now:
Read More “Well Explosion in Doddridge County, WV Injures 8 People”
Antero Resources | Energy Companies

Antero Resources Files Paperwork for IPO, Hopes to Raise $1B
June 14, 2013June 14, 2013

A little over a month ago MDN told you the rumor that Antero Resources, a private drilling company headquartered in Denver, CO with major drilling operations in the Marcellus Shale (311,000 acres) and the Utica Shale (92,000 acres) would go public this year (see Rumor Has It: Antero Resources Will Go Public This Year). Looks like the rumor was right.

Yesterday, Antero filed paperwork with the Securities & Exchange Commission to float an initial public offering (IPO) sometime this year. Antero’s announcement (see below) does not list the number of shares nor the price they hope to get, although Reuters is reporting the company hopes to raise up to $1 billion with the IPO…
Read More “Antero Resources Files Paperwork for IPO, Hopes to Raise $1B”
Antero Resources | Chevron | Energy Companies | Energy Services | Fayette County | Hydraulic Fracturing | Industrywide Issues | Litigation | Pennsylvania | Williams

6 Western PA Families Sue Chevron, Williams over Drilling Activity
June 11, 2013June 11, 2013

Six families in Fayette County, PA have filed a “nuisance” lawsuit against Chevron, Williams and WPX Energy claiming nearby gas drilling activities have “diminished their ability to make use of their property” and have ruined the “quite use and enjoyment” of their homes. The families claim they’ve suffered from the effects of “toxic chemicals” due to the drilling activities in the area.

The AP story with details (slightly edited to remove some of the anti-drilling commentary AP adds to such stories):
Read More “6 Western PA Families Sue Chevron, Williams over Drilling Activity”
Antero Resources | Chesapeake Energy | Energy Companies | Gulfport Energy | Ohio | Statewide OH | Utica Shale

Utica Shale Potpourri: Gulfport, Chesapeake, Antero & More…
June 5, 2013June 5, 2013

The Akron Beacon Journal‘s Bob Downing does a great job, as usual, of jamming a lot of useful facts and figures into a single article. He posted a story on Monday that we would call “Utica Shale potpourri”…a round-up of interesting tidbits from the world of Utica Shale drilling from recent analyst and investor phone calls.

Here’s Bob’s latest information feast!…
Read More “Utica Shale Potpourri: Gulfport, Chesapeake, Antero & More…”