One-Page Deal Sheet
Antero Sells ORR Interests to PE Firm in Deal Worth $402MM
Sixth Street Partners LLC Antero Resources
Announced Date
June 15,2020
Effective Date
April 01,2020
Close Date
June 15,2020
Transaction Type
Royalty
Enterprise Value (EV)($MM)
402
Asset/Basin:
["Appalachian Basin", "Marcellus Shale", "Utica Shale"]
TargetZones:
[]
Location
Region
Northeast - Appalachia
Country
United States
State
West Virginia
Play
Transaction Details: Require Private Equity Subscription
Antero Resources Corp. has finalized an overriding royalty interest (ORRI) transaction with Sixth Street Partners, LLC. The deal value is $402 million.
Proceeds will be used to repay revolver borrowings and the effective date of the transaction is April 1, 2020.
Deal Details: Proceeds of $300 million were received at closing and up to an additional $102 million will be received over the next twelve months ORRI transaction comprised of a 1.25% overriding royalty interest in all existing producing wells and a 3.75% overriding royalty interest in existing acreage in wells completed over the…Northeast - Appalachia Deal Activity In Last 12 Months
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