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Antero Midstream to acquire water business for $1.05 bln

Sept 18 (Reuters) – Antero Midstream Partners LP said it would buy Antero Resources Corp’s business that delivers fresh water to shale drillers in a deal valued at $1.05 billion.

Antero Resources will also receive two $125 million earnout payments at year-end 2019 and 2020 if certain delivery targets are met.

The unit delivers water from the Ohio river and other regional water sources for well completion operations in both the Marcellus and Utica shales.

Antero Midstream Partners LP is a limited partnership formed by Antero Resources Corp to own, operate and develop oil and gas pipelines.

In related news, Antero Resources reports on three giant natural gas wells in Ohio’s Noble County.

(Reporting by Anannya Pramanick in Bengaluru; Editing by Anil D’Silva)

This article was from Reuters and was legally licensed through the NewsCred publisher network.

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