Antero Resources Announces Pricing of Common Stock Offering

Antero Resources Announces Pricing of Common Stock Offering

PR Newswire

DENVER, June 9, 2016 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero Resources" or the "Company") announced today the pricing of an underwritten public offering of 26,750,000 common shares (the "Offering") for aggregate gross proceeds of approximately $762 million before estimated offering expenses.  In connection with the Offering, Antero Resources has also granted the underwriters a 30-day option to purchase up to an additional 4,012,500 common shares.  The underwriters intend to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

Antero Resources logo. (PRNewsFoto/Antero Resources Corporation)

The Company expects to use the proceeds from the Offering, including the proceeds from any exercise of the underwriters' option to purchase additional shares of common stock, to fund the recently announced acquisition of properties from a third party and for general corporate purposes including funding future development.

Credit Suisse and J.P. Morgan are acting as joint book-running managers for the Offering. 

The Offering is being made pursuant to an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC").  The Offering is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, copies of which, when available, may be obtained from:

Credit Suisse Securities (USA) LLC

Eleven Madison Avenue,

New York, NY, 10010

1-800-221-1037

email: newyork.prospectus@credit-suisse.com

J.P. Morgan

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY, 11717

1-866-803-9204

Email: prospectus-eq_fi@jpmchase.com

You may also get these documents for free by visiting the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Antero Resources is an independent natural gas and oil company engaged in the acquisition, development and production of unconventional liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. The Company's website is located at www.anteroresources.com.

This release includes "forward-looking statements".  Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Antero's control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future production targets, completion of natural gas or natural gas liquids transportation projects, future earnings, future capital spending plans, improved and/or increasing capital efficiency, continued utilization of existing infrastructure, gas marketability, maximized realized natural gas and natural gas liquids prices, acreage quality, access to multiple gas markets, expected drilling and development plans, future financial position, future technical improvements and future marketing opportunities, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  All forward-looking statements speak only as of the date of this release. Although Antero believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

Antero cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control, incident to the exploration for and development, production, gathering and sale of natural gas, NGLs and oil. These risks include, but are not limited to, Antero's ability to successfully complete the pending acquisition and integrate the assets with its own and realize the benefits from the transaction, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and the other risks described under the heading "Item 1A. Risk Factors" in Antero's Annual Report on Form 10-K for the year ended December 31, 2015.

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