Antero Resources Announces Pricing of $750 Million Offering of Senior Notes

Rhea-AI Summary

Antero Resources (NYSE: AR) priced an underwritten offering of $750 million aggregate principal amount of 5.40% senior unsecured notes due 2036 at an initial price of 99.869% and expects to close on January 28, 2026, subject to customary closing conditions. Antero estimates net proceeds of approximately $743 million after fees and expenses. The company intends to use the net proceeds to partially fund the HG Acquisition. The offering is being made under an effective shelf registration and may be sold only by prospectus and prospectus supplement. The release includes forward-looking statements and lists risks that could affect closing, integration, commodity prices, and access to capital.

Positive

• $750 million senior notes priced
• Estimated net proceeds of $743 million
• 10-year maturity extends debt tenor to 2036
• Proceeds earmarked to partially fund the HG Acquisition

Negative

• Notes carry 5.40% interest, increasing annual interest obligations
• Closing expected Jan 28, 2026 but is subject to customary conditions
• Use of proceeds depends on completion of the HG Acquisition, which may not close

News Market Reaction – AR

-1.69%

1 alert

-1.69% News Effect

On the day this news was published, AR declined 1.69%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Senior notes offering size: $750 million Coupon rate: 5.40% Initial price to public: 99.869% +5 more

8 metrics

Senior notes offering size $750 million Aggregate principal amount of 5.40% senior unsecured notes due 2036

Coupon rate 5.40% Interest rate on senior unsecured notes due 2036

Initial price to public 99.869% Initial offering price of the senior notes

Estimated net proceeds $743 million Net proceeds after underwriters’ discounts and estimated expenses

HG Acquisition value $2.8 billion Cash consideration for HG Energy II Production Holdings

Proposed Term Loan A $1.5 billion Term Loan A described in 424B5 to help fund HG Acquisition

Utica Disposition $800 million Pending Utica upstream asset sale referenced in 424B5

Special Mandatory Redemption 101% of principal Redemption price if HG Acquisition does not close by outside date

Market Reality Check

Price: $35.54 Vol: Volume 4,634,464 is sligh...

normal vol

$35.54 Last Close

Volume Volume 4,634,464 is slightly below the 4,945,350 20-day average (relative volume 0.94x). normal

Technical Shares at $32.49 are trading below the 200-day MA of $34.95 and about 26.18% under the $44.015 52-week high.

Peers on Argus

AR was up 0.49% while key E&P peers like DVN (+1.82%), CTRA (+0.64%), PR (+0.35%...

AR was up 0.49% while key E&P peers like DVN (+1.82%), CTRA (+0.64%), PR (+0.35%) and OVV (+0.15%) also gained, but EXE fell 0.85%, suggesting mixed, stock-specific trading rather than a clean sector rotation.

Historical Context

5 past events · Latest: Dec 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Midstream acquisition	Positive	+1.5%	Antero Midstream’s $1.1B HG midstream buy and $400M Utica sale.
Dec 08	Upstream acquisition	Positive	+1.5%	Antero Resources’ $2.8B HG upstream acquisition and $800M Utica sale.
Oct 29	Midstream earnings	Positive	-0.8%	Antero Midstream Q3 2025 results and cash flow expansion metrics.
Oct 29	Resources earnings	Positive	-0.8%	Antero Resources Q3 2025 production, FCF, acquisitions and buybacks.
Oct 08	Earnings call notice	Neutral	-1.6%	Announcement of Q3 2025 earnings release date and conference call.

Pattern Detected

Recent strategic/acquisition news for Antero Resources and Antero Midstream tended to see modest positive reactions, while earnings-related releases often coincided with slight declines.

Recent Company History

Over the past several months, Antero’s key news centered on portfolio reshaping and quarterly results. On Dec 8, 2025, Antero Resources announced a $2.8B HG Energy II acquisition alongside an $800M Utica sale, with shares rising about 1.5%. Antero Midstream highlighted a related $1.1B midstream acquisition and $400M divestiture the same day, also with a positive move. By contrast, Q3 2025 earnings for both entities on Oct 29, 2025 saw mild share price declines despite operational and financial detail. Today’s senior notes pricing ties directly into funding the previously announced HG acquisition.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2026-01-12

Antero filed an effective Form S-3ASR shelf on Jan 12, 2026, enabling offerings of common stock, preferred stock, and senior debt securities over time. The current senior notes deal uses this shelf via a 424B5 prospectus supplement to fund the previously disclosed HG Acquisition and related transactions.

Market Pulse Summary

This announcement details the pricing of $750 million of 5.40% senior unsecured notes due 2036, prov...

Analysis

This announcement details the pricing of $750 million of 5.40% senior unsecured notes due 2036, providing a clearer funding pathway for Antero’s previously disclosed $2.8 billion HG Acquisition. Net proceeds of about $743 million complement other financing, such as the proposed $1.5 billion Term Loan A and the pending $800 million Utica Disposition. Investors may focus on closing risk for these transactions, the special mandatory redemption at 101% of principal if the acquisition fails, and how added debt interacts with Antero’s longer-term leverage targets.

Key Terms

senior unsecured notes, shelf registration statement, prospectus supplement, forward-looking statements, +3 more

7 terms

senior unsecured notes financial

"aggregate principal amount of 5.40% senior unsecured notes due 2036"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

shelf registration statement regulatory

"pursuant to an effective shelf registration statement and prospectus filed"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

"only by means of a prospectus and prospectus supplement related to such offering"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

forward-looking statements regulatory

"This release includes "forward-looking statements." Such forward-looking statements are subject"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Term Loan A financial

"Antero Resources may not enter into the Term Loan A on the timeline anticipated"

Term Loan A is a portion of a company’s syndicated bank loan that is paid down with regular principal installments over a set period, usually carries lower interest and a shorter maturity than other loan tranches. It matters to investors because its scheduled repayments and interest cost affect a company’s cash flow and borrowing needs; heavy near‑term payments can reduce cash available for dividends, investment or increase refinancing risk, much like a mortgage with larger monthly payments limits household flexibility.

Special Mandatory Redemption financial

"If the HG Acquisition does not close by the Special Mandatory Redemption Outside Date"

A special mandatory redemption is a contractual obligation that forces a company to repay certain debt or preferred shares early when a specific trigger event occurs (for example, a change in tax law, regulatory change, or sale). For investors it matters because it ends the expected income stream and returns principal at a pre-set price, potentially altering returns, tax outcomes and a company’s cash needs — like a lender calling a loan back when rules change.

make-whole call financial

"can be redeemed early at specified prices, including a make-whole call and a par call"

A make-whole call is a provision in a bond that lets the issuer pay off the debt early by giving bondholders a lump sum designed to compensate them for lost future interest; think of it like paying off a mortgage today plus a small premium to cover the interest you would have earned. It matters to investors because it reduces uncertainty about how long a bond will last and affects the bond’s price and yield—investors may get repaid sooner but receive a payment that aims to make them financially whole.

AI-generated analysis. Not financial advice.

DENVER, Jan. 13, 2026 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero Resources" or the "Company") announced today the pricing of an underwritten public offering of $750 million in aggregate principal amount of 5.40% senior unsecured notes due 2036 at an initial price to the public of 99.869% (the "Notes"). The offering is expected to close on January 28, 2026, subject to customary closing conditions.

Antero Resources estimates that it will receive net proceeds of approximately $743 million, after deducting the underwriters' discounts and estimated expenses. Antero Resources intends to use the net proceeds from the offering to partially fund the HG Acquisition.

The offering is being made pursuant to an effective shelf registration statement and prospectus filed by Antero Resources with the U.S. Securities and Exchange Commission (the "SEC") and may be made only by means of a prospectus and prospectus supplement related to such offering meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act"). These documents may be obtained by visiting EDGAR on the SEC's website at www.sec.gov.

This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

Antero Resources is an independent natural gas and natural gas liquids company engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia and Ohio.

This release includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Resources's control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Resources expects, believes or anticipates will or may occur in the future, such as statements regarding the proposed offering and the intended use of proceeds, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although Antero Resources believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Resources expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.

Antero Resources cautions you that these forward-looking statements are subject to all of the risks and uncertainties incidental to our business, most of which are difficult to predict and many of which are beyond Antero Resources's control. These risks include, but are not limited to, the risk that one or both of the HG Acquisition and the Utica Disposition will not close on the timeline anticipated, or at all, Antero Resources may not enter into the Term Loan A on the timeline anticipated or at all or on satisfactory terms, risks associated with the successful integration and future performance of the acquired assets and operations, commodity price volatility, inflation, supply chain or other disruption, availability and cost of drilling, completion and production equipment and services, environmental risks, drilling and completion and other operating risks, marketing and transportation risks, regulatory changes or changes in law, the uncertainty inherent in estimating natural gas, NGLs and oil reserves and in projecting future rates of production, cash flows and access to capital, the timing of development expenditures, conflicts of interest among our stockholders, impacts of geopolitical and world health events, cybersecurity risks, and the state of markets for, and availability of, verified quality carbon offsets and the other risks described under the heading "Item 1A. Risk Factors" in Antero Resources's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequently filed Quarterly Reports on Form 10-Q.

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SOURCE Antero Resources Corporation

FAQ

What did Antero Resources (AR) announce on January 13, 2026?

Antero priced $750 million of 5.40% senior unsecured notes due 2036 and expects to close on January 28, 2026.

How much net proceeds will Antero Resources (AR) receive from the offering?

Antero estimates approximately $743 million in net proceeds after underwriter discounts and expenses.

What will Antero Resources (AR) use the offering proceeds for?

Antero intends to use the net proceeds to partially fund the HG Acquisition.

What is the interest rate and maturity of the notes Antero Resources (AR) issued?

The notes bear a coupon of 5.40% and mature in 2036.

When will the Antero Resources (AR) offering close and are there risks to closing?

The offering is expected to close on January 28, 2026 and is subject to customary closing conditions and transaction risks.