Antero Resources Announces Drop Down of Water Business to Antero Midstream
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Antero Midstream (AM) to Acquire Antero's (AR) Integrated Water BUsiness in $1.05B Deal; Updates Outlook
September 18, 2015 7:34 AM EDTAntero Midstream (NYSE: AM) that it has entered into a definitive agreement to acquire Antero Resources Corporation's ("Antero Resources")(NYSE: AR) integrated water business for an aggregate $1.05 billion in a combination of cash, assumed debt and Partnership common units. In addition, Antero Resources is entitled to receive two potential $125 million earn out payments at year-end 2019 and 2020 if certain fresh water volumetric delivery targets are met. The acquisition includes Antero Resources' fresh water delivery business, together with an exclusive right to provide fresh water for Antero Resources' well completion operations in West... More
