Antero Resources to sell Oklahoma midstream assets for $268m

Antero Resources has signed definitive agreements to sell its midstream assets located in the Woodford Shale area of the Arkoma Basin of Oklahoma to affiliates of Cardinal Midstream for $268m.

As per the agreements, Antero will sell its 60% membership interest in Centrahoma Processing, a joint venture with MarkWest Energy Partners, to Cardinal.

In addition, Antero will sell to Cardinal approximately 50 miles of gathering pipeline in Antero’s Northern Front and East Rockpile areas of the Woodford Shale play and its amine treating plant for CO2 removal located in the East Rockpile area that currently has 42mmcfd of capacity.

The proceeds from the sale will be used to further enhance Antero’s liquidity position and for general corporate purposes.

Goldman, Sachs & Co acted as financial advisor and Vinson & Elkins acted as legal counsel to Antero in connection with the transaction.