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Antero Resources Completes $2.8B Marcellus Expansion
Antero Resources has completed the previously announced acquisition of upstream assets from HG Energy II, LLC, significantly expanding its core position in the Marcellus Shale. The transaction closed on February 3, 2026, with an effective date aligned to the start of the year.
Under the terms of the agreement dated December 5, 2025, Antero Resources purchased 100 % of the equity interests of HG Energy II Production Holdings, LLC for approximately $2.8 billion in cash. The acquired properties include roughly 385,000 net acres located in the heart of the Marcellus Shale in West Virginia, adding substantial producing and undeveloped inventory to Antero’s existing footprint.
This acquisition strengthens Antero’s position as a leading natural gas producer in the Appalachian Basin and supports its strategic focus on high‑return dry gas opportunities driven by robust market demand. Financing for the acquisition was secured through a combination of cash on hand, debt facilities, and proceeds from related portfolio transactions.
The expansion also aligns with Antero’s broader portfolio optimization strategy, which included prior divestitures of non‑core assets in other basins, reinforcing the company’s emphasis on scale and operational efficiency in its core operating areas.
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