Welcome to our dedicated page for Antero Resources news (Ticker: AR), a resource for investors and traders seeking the latest updates and insights on Antero Resources stock.
Antero Resources Corporation reports developments centered on its natural gas and natural gas liquids business in the Appalachian Basin, including production from unconventional properties in West Virginia and portfolio activity in the Marcellus Shale. Company updates commonly address quarterly operating and financial results, natural gas, NGL and ethane realizations, drilling inventory, acreage additions, debt reduction and other capital-structure matters.
Antero's releases also cover earnings-call timing, guidance, and operational coordination with affiliate Antero Midstream, which supports gathering and related infrastructure for Antero's production volumes.
Antero Resources (NYSE: AR) announced its intention to offer $250 million in convertible senior notes due 2026, subject to market conditions. The offering includes a 30-day option for initial purchasers to acquire an additional $50 million.
The notes will be senior, unsecured obligations, with a maturity date of September 1, 2026, and will accrue interest payable semi-annually. Proceeds will be used to repay existing debt under the Company's credit facility. The offering is targeted exclusively at qualified institutional buyers.
Antero Resources Corporation (NYSE: AR) announced a cash tender offer for its 5.375% Senior Notes due 2021, with $191,566,000 accepted as of August 17, 2020. Tendered notes will receive $980.00 per $1,000 principal amount plus accrued interest. Payment for most accepted notes is expected on August 18, 2020, while guaranteed delivery notes will be paid on August 20, 2020. Additionally, Antero has announced Dutch Auction Offers with a maximum purchase price of $250,000,000, expiring September 8, 2020. Holders tendering by August 24, 2020, will receive an early tender payment of $30.00.
Antero Resources Corporation (NYSE: AR) announced cash tender offers for its outstanding senior notes. The offers include purchasing any and all of its 5.375% Senior Notes due 2021 and up to $250 million of its 5.125% and 5.625% Senior Notes due 2022 and 2023, respectively. The expiration date for the Any and All Offer is set for 5:00 p.m. on August 17, 2020, while the Dutch Auction Offers will expire at 11:59 p.m. on September 8, 2020. The maximum total consideration for the Any and All Notes is $980 per $1,000 principal amount. Details on conditions and procedures are outlined in the Offer to Purchase.
Antero Resources Corporation (NYSE: AR) announced a volumetric production payment (VPP) transaction with J.P. Morgan for cash proceeds of $220 million. The VPP, effective July 1, 2020, involves dry gas properties in West Virginia, with expected net production of 60 MMcf/d in H2 2020, declining to 40 MMcf/d by mid-2027. The company also initiated cash tender offers to repurchase senior notes up to $525 million. Pro forma for the VPP, Antero has $1.2 billion in liquidity as of June 30, 2020, and has achieved asset sales of $751 million towards its annual target.
Antero Resources Corporation (NYSE: AR) reported its Q2 2020 results, revealing a net production of 3,521 MMcfe/d, a 9% increase year-over-year. However, the company faced a GAAP net loss of $463 million due to lower commodity prices. The average realized natural gas price was $2.81 per Mcfe, down 13% from the previous year. Antero has successfully monetized $531 million in asset sales towards its $750 million to $1 billion target and has reduced total debt by $171 million through a debt repurchase program. The company expects over $175 million in free cash flow based on current strip prices.
Antero Resources Corporation (NYSE: AR) announced the closing of an overriding royalty interest (ORRI) deal with Sixth Street Partners, yielding proceeds of up to $402 million. The transaction aims to enhance liquidity by repaying revolver borrowings. Initial proceeds of $300 million were received, with up to $102 million contingent upon production thresholds by March 2021. Antero has also repurchased $196 million in senior notes, leaving $540 million outstanding. This transaction addresses over half of the company's $650-$900 million asset sale goal for 2020, improving its liquidity to $1.2 billion.