US-based Antero Resources to acquire HG Energy’s upstream and midstream assets for $2.8bn and $1.1bn respectively, with expected closings in Q2 and Q1 2026. Antero will divest Ohio Utica Shale assets for $800m. The deal adds 850mcf equivalent per day of production and 385,000 net acres to Antero’s portfolio.

Antero plans to fund the acquisition through free cash flow, a $1.5bn term loan, and proceeds from the Utica divestiture. The company expects $950m in synergies over a decade, including cost reductions and optimization. Financial advisers include RBC Capital Markets, Lazard, Wells Fargo, and Vinson & Elkins.

The strategic acquisitions are expected to enhance Antero’s core acreage and position in the Marcellus, with improved cash flow and balance sheet strength. The company aims to reduce leverage to 1.0x or lower in 2026. Antero president Michael Kennedy highlights the benefits of the acquired assets for the company’s growth and operational efficiency.

Read more at Yahoo Finance: Antero agrees to acquire HG Energy’s upstream and midstream assets