Antero Resources to acquire upstream assets of HG Energy II for $2.8B in cash

Antero Resources (AR) announced it has entered into a definitive agreement to acquire the upstream assets of HG Energy II, LLC for total consideration of $2.8B in cash plus the assumption of HG Energy’s commodity hedge book, subject to customary closing adjustments. The transaction is expected to close in the second quarter of 2026, with an effective date of January 1, 2026. In addition, Antero announced it has entered into a definitive agreement to sell its Ohio Utica Shale upstream assets for total consideration of $800M in cash, subject to customary closing adjustments. The Utica divestiture is expected to close in the first quarter of 2026, with an effective date of July 1, 2025. Separately, Antero Midstream (AM) announced that it has entered into a definitive agreement to acquire the midstream assets from HG Energy for total consideration of $1.1B in cash, subject to customary closing adjustments. Antero Midstream also announced it has entered into a definitive agreement to sell its Utica Shale midstream assets for total consideration of $400M, subject to customary closing adjustments. The transactions were unanimously approved by the company’s Board of Directors.