The acreage is located in nine counties in southwestern Pennsylvania and north central West Virginia.
The transaction increases Antero’s average net revenue interest to 87% in the 115,000 net Marcellus acres that the company acquired from Dominion Resources.
It also adds 12 MMcfd of current net daily production in existing Antero operated wells and adds over 500 Bcfe of net risked resource to Antero’s resource base, including over 60 Bcfe of proved reserves.
As part of the transaction, Antero and CONSOL added an additional 5,000 net acres contiguous to Antero’s leasehold position in West Virginia, following clearance of a lease ownership discrepancy.
All future Antero Marcellus Shale drilling requirements and most of the data sharing obligations associated with Antero’s 2008 Dominion leasehold purchase will now be eliminated, under the terms of the acquisition deal.
Antero now owns over 200,000 net acres of leasehold in the Marcellus Shale play with 227 MMcfd of gross operated production.
The ORI acquisition increases current estimated company-wide net production to approximately 300 MMcfed.
