The Bluestone assets include producing properties with 19mmcfd of gross operated production from 93 operated vertical and three operated horizontal wells, gathering and compression assets and about 40,000 net acres in the Marcellus Shale play in West Virginia and Pennsylvania.
Approximately 96% of the leasehold is located in West Virginia and 54% is held by production.
Antero expects to add approximately 20bcfe of proved developed producing reserves by year-end 2010 as a result of the transaction.
The assets also include 11bcf net of index fixed price natural gas hedges for production through December 2013 at a NYMEX-equivalent price of $7.21 per MMBtu.
Following the closing of the acquisition, Antero controls approximately 168,000 net acres in the Marcellus Shale play and has 80mmcfd of gross operated production (56mmcfd net) from the Marcellus Shale.
Antero is engaged in the acquisition, development and production of unconventional natural gas properties primarily located in the Appalachian Basin in West Virginia and Pennsylvania, the Arkoma Basin in Oklahoma, and the Piceance Basin in Colorado.
