Antero Midstream IPO Hauls in $1B, Stock Trading High
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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In our political coverage yesterday, we overlooked one very important race–perhaps the biggest shocker of all: For only the second time in the past 50+ years a Republican won the governorship in Maryland. Which is astounding when you consider Republican Larry Hogan (pictured on the left) is an older businessman who was outspent 4 times by his younger opponent, Anthony Brown (pictured on the right), who was/is the sitting Lt. Governor in a state where Democrats outnumber Republicans two to one. It was an utter repudiation of the last eight years of ever-higher taxes and a bungled roll-out of the Obamacare health exchange in Maryland. Oh, and did we mention that new incoming Gov. Hogan is pro-drilling?!…