Vanguard closes shale asset deal with Antero

By OGJ editors

Vanguard Natural Resources LLC, Houston, closed its $445 million acquisition of unconventional natural gas assets from Antero Resources LLC, a private Denver independent. The assets involved 66,000 net acres in the Woodford shale in the Arkoma basin in Oklahoma and 5,300 net acres in the Fayetteville shale in Arkansas.

Closing was June 29 with an effective date of Apr. 1, Antero said July 2.

The assets contain an estimated 251 bcf of gas equivalent of proved developed reserves as of Mar. 31. Antero said current production from the assets is 77 MMcfd of gas from 833 gross wells.

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