One-Page Deal Sheet
Antero Resources Acquires HG Energy II for $3.9B
Antero Resources HG Energy II LLC
Announced Date
December 08,2025
Effective Date
January 01,2026
Close Date
February 03,2026
Transaction Type
Asset
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast - Appalachia
Country
United States
State
West Virginia
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
Antero Resources Corporation (NYSE: AR) and Antero Midstream Corporation (NYSE: AM) announced a series of coordinated transactions to acquire the upstream and midstream assets of HG Energy II LLC — a Quantum Capital Group portfolio company headquartered in Parkersburg, West Virginia — for combined total consideration of $3.9 billion in cash. Antero Resources agreed to pay $2.8 billion for the upstream assets plus assumption of HG Energy's commodity hedge book; Antero Midstream agreed to pay $1.1 billion for the midstream assets.
The acquisition adds approximately 385,000 net acres directly…
Northeast - Appalachia Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-02-2026 |
-  |
- |
Click here | Texas | E&P |
| Jan-08-2026 |
- |
- |
Click here | West Virginia | E&P |
| Dec-08-2025 |
- |
- |
Click here | Ohio | E&P |
| May-30-2025 |
- |
- |
Click here | Ohio | E&P |
| Apr-22-2025 |
- |
- |
Click here | Pennsylvania | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
- |
| Apr-22-2025 | EQT Acquires Olympus Energy Assets For $1.8 Billion | - |
- |
| Dec-05-2024 | CNX Acquires Apex’s Appalachian Gas & Midstream Assets for $505MM | - |
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