Antero announces bolt-on acquisition of assets in Marcellus Shale for $70M

Antero Midstream Corporation (AM) announced a bolt-on acquisition of gathering and compression assets in the Marcellus Shale for $70 million from Summit Midstream Partners LP (SMLP). The transaction closed on May 1, 2024 with an effective date of April 1, 2024. In addition, the Company announced that it has called for redemption all of its outstanding 7.875% Senior Notes due 2026 for redemption on May 16, 2024. Paul Rady, Chairman and CEO said, “This transaction marks our third highly strategic bolt-on acquisition in Appalachia in the last two years. The compression and high pressure gathering assets are already interconnected with Antero Midstream’s low pressure gathering system. As a result of this transaction, Antero Midstream now gathers and compresses substantially all of Antero Resources’ production.”