Antero Resources agrees to buy HG Energy Marcellus assets for $2.8 billion, sell Utica for $800 million
Antero Resources signed a purchase agreement on December 5, 2025 to acquire HG Energy II's upstream Marcellus Shale assets in West Virginia for $2.8 billion in cash, and agreed to sell its Ohio Utica Shale upstream assets for $800 million. Antero Midstream separately agreed to buy HG's midstream assets for $1.1 billion and sell its Utica midstream assets for about $400 million. The company says the deals are accretive and will keep an investment grade balance sheet, but the closing depends on customary conditions and regulatory clearance.
Key points
- Upstream acquisition: $2.8 billion cash for about 385,000 net Marcellus acres; closing expected in the first half of 2026 (press release says second quarter 2026)
- Utica upstream sale: $800 million cash; closing expected in the first quarter of 2026
- Antero Midstream to buy HG midstream assets for $1.1 billion and sell Utica midstream assets for about $400 million
- Outside Date of March 4, 2026, extendable to June 2, 2026 if HSR waiting periods are not yet cleared; $800 million 364-day bridge and $1.5 billion 3-year term loan committed
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 08, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.