Denver, Colorado-based Antero Resources Corporation announced it has signed an agreement to buy 55,000 net acres in the core of the Marcellus Shale for $450 million. It identified the seller only as a “third-party” but said 75% of the acreage contains dry Utica rights.
The purchase also includes undeveloped properties located primarily in Wetzel, Tyler and Doddrige counties in West Virginia. Closing on the deal is expected in the third quarter of 2016.
Antero already holds more than 425,000 net acres in the southwestern core of the Marcellus and 148,000 in the core of the Utica Shale.