9 Oct 2013director interest notice● Neutral
Antero Resources LLC became a Antero Resources LLC 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2013quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $387.1 million and net income of $131.2 million for the period ended 2013-06-30.
9 Aug 2013quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $387.1 million and net income of $131.2 million for the period ended 2013-06-30.
29 July 2013quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $387.1 million and net income of $131.2 million for the period ended 2013-06-30.
13 May 2013quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of $61.5 million and a net loss of $48.0 million for the period ended 2013-03-31.
13 May 2013quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of $61.5 million and a net loss of $48.0 million for the period ended 2013-03-31.
4 Feb 2013debt financing● NeutralMajor
On January 30, 2013 Antero's finance subsidiary agreed to sell an additional $225 million of its 6.0% senior notes due 2020 (the same series as the $300 million issued in November 2012), at 103% of face value, closing February 4, 2013. Net proceeds of about $228.3 million are to repay part of the revolving credit facility, and a February 4 letter agreement cuts the borrowing base from $1.275 billion to $1.22 billion; the filing also sets a registration deadline of November 19, 2013, after which 1% extra interest is payable.
27 Dec 2012asset acquisition disposition● NeutralMajor
On December 21, 2012 Antero completed the sale of its Piceance Basin assets (61,000 net acres and 30 miles of gathering pipeline) to Ursa Resources Group II, the deal agreed on November 1. Sale proceeds were $316 million (the $325 million price after adjustments), with a final settlement due within 180 days; about $112 million more came from liquidating the Piceance hedges, and the borrowing base falls from $1.575 billion to $1.275 billion with commitments at $700 million, as set out in the December 7 letter agreement. Antero still expects a noncash loss of $375 to $400 million on the sale.
10 Dec 2012material agreement● Neutral
In connection with the new notes, the borrowing base was cut from $1.65 billion to $1.575 billion and commitments from $950 million to $850 million on November 19, 2012. Because of the pending Piceance sale, the company liquidated its Piceance hedges, and a December 7 letter agreement cuts the borrowing base a further $75 million immediately and $225 million more on closing of the sale (to $1.275 billion), with commitments falling to $700 million.
20 Nov 2012debt financing● NeutralMajor
Antero's finance subsidiary sold $300 million of 6.0% senior notes due 2020 (closed November 19, 2012), guaranteed by Antero and its wholly owned subsidiaries, with about $294.6 million of net proceeds to repay part of the revolving credit facility. The notes can be redeemed from December 1, 2015, and holders can require repurchase at 101% on a change of control. An exchange offer or shelf registration must be effective by November 19, 2013 or 1% additional interest is payable.
9 Nov 2012quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of -$88.2 million and a net loss of $127.7 million for the period ended 2012-09-30.
7 Nov 2012quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of -$88.2 million and a net loss of $127.7 million for the period ended 2012-09-30.
7 Nov 2012quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of -$88.2 million and a net loss of $127.7 million for the period ended 2012-09-30.
6 Nov 2012material agreement● NeutralMajor
On November 1, 2012 Antero agreed to sell all its Piceance Basin assets (61,000 net acres and 30 miles of gathering pipeline) to Ursa Resources Group II for $325 million cash, with Ursa also taking over Antero's Rocky Mountain firm transportation obligations. Closing is expected by end of 2012, Antero estimates a loss of $375 to $400 million on closing, and the company's press release describes this, together with the Arkoma sale, as completing its move to a pure-play Appalachian Basin shale producer.
26 Oct 2012debt financing▲ Good
On October 25, 2012 Antero raised its borrowing base from $1.35 billion to $1.65 billion and lender commitments from $750 million to $950 million. The amendment also permits hedges longer than 60 months (ending no later than December 31, 2018 and covering no more than 65% of expected production). As of September 30, 2012, $447 million was drawn and $43 million in letters of credit were outstanding, and the next redetermination is scheduled for May 2013.
13 Aug 2012quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of $38.9 million and a net loss of $478.1 million for the period ended 2012-06-30.
10 Aug 2012quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of $38.9 million and a net loss of $478.1 million for the period ended 2012-06-30.
1 Aug 2012quarterly activities report▼ Bad
Antero Resources LLC reported quarterly revenue of $38.9 million and a net loss of $478.1 million for the period ended 2012-06-30.
5 July 2012asset acquisition disposition● NeutralMajor
On June 29, 2012 Antero completed the sale of its Arkoma Basin assets (66,000 net acres in the Woodford Shale in Oklahoma and 5,300 net acres in the Fayetteville Shale in Arkansas, plus related hedges) to Vanguard Natural Resources for $424 million in cash after adjustments to the $445 million purchase price. Antero expects a noncash loss on the sale, a final price settlement is due within 180 days, and because of the lost reserves the borrowing base was cut from $1.55 billion to $1.35 billion and lender commitments from $950 million to $750 million.
14 May 2012quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $553.7 million and net income of $327.7 million for the period ended 2012-03-31.
14 May 2012quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $553.7 million and net income of $327.7 million for the period ended 2012-03-31.
7 May 2012debt financing▲ Good
On May 4, 2012 Antero raised its credit facility borrowing base from $1.2 billion to $1.55 billion and lender commitments from $850 million to $950 million, and lifted the facility's maximum size from $1.5 billion to $2.5 billion. This follows the redetermination expected in May 2012; the press release says $215 million was drawn and $21 million in letters of credit were outstanding, with the next redetermination expected in October 2012.
11 Apr 2012debt financing▲ GoodMajor
Re-filing of an October 2011 report: on October 26, 2011 Antero amended its credit agreement, raising the borrowing base from $800 million to $1.2 billion and lender commitments from $750 million to $850 million. The company's press release said $240 million was drawn and $21 million in letters of credit were outstanding. The filing says it contains no new information.
11 Apr 2012quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $553.7 million and net income of $327.7 million for the period ended 2012-03-31.
11 Apr 2012material agreement● Neutral
Re-filing of a July 2011 report: on July 8, 2011 Antero amended its bank credit facility to drop the maximum leverage ratio covenant and replace it with a minimum interest coverage ratio of 2.5 to 1.0. This replaces the leverage test set when the facility was put in place in November 2010. The filing says it contains no new information.
11 Apr 2012quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $553.7 million and net income of $327.7 million for the period ended 2012-03-31.
11 Apr 2012material agreement▲ GoodMajor
Re-filing of a December 2010 report: Antero completed its purchase of Bluestone Energy Partners, a private West Virginia natural gas producer, on December 1, 2010. Antero paid $93 million cash, assumed $25 million of subordinated debt due 2013, and issued about 3.8 million new Class I-5 and B-6 membership interests in Antero Resources LLC to certain Bluestone partners. It added about 40,000 net Marcellus Shale acres, taking Antero to about 168,000 net acres in the play. The filing says it contains no new information.
11 Apr 2012quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $553.7 million and net income of $327.7 million for the period ended 2012-03-31.
11 Apr 2012quarterly activities report● Neutral
Antero Resources LLC reported quarterly revenue of $553.7 million and net income of $327.7 million for the period ended 2012-03-31.
11 Apr 2012asset acquisition disposition▲ GoodMajor
Re-filing of a November 2010 report with two events. Antero closed the Oklahoma midstream sale to Cardinal on November 5, 2010 for $270 million after working capital adjustments, completing the deal announced in October. It also signed a new revolving credit facility on November 4, 2010: maximum size raised from $400 million to $1 billion, borrowing base from $400 million to $550 million, maturity extended from March 2012 to November 2015. After the sale proceeds repaid borrowings, the company reported $581 million of total liquidity. The filing says it contains no new information.