Vanguard closes shale asset deal with Antero

July 3, 2012

Vanguard Natural Resources LLC, Houston, closed its $445 million acquisition of unconventional natural gas assets from Antero Resources LLC, a private Denver independent.

Paula Dittrick

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.

About the Author

Paula Dittrick | Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.