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Ohio Utica Shale

Borrowing base for Antero Resources hiked to $1.75 billion

By Bob Downing Published: May 10, 2013

From Antero Resources, a Colorado-based drilling company active in Ohio's Utica shale:

DENVER, May 10, 2013 /PRNewswire/ -- Antero Resources announced today that the borrowing base under its bank credit facility has been increased to $1.75 billion. This represents a $530 million increase over Antero's previous borrowing base. In addition, lender commitments under the facility were increased by $500 million to $1.2 billion. The $1.2 billion commitment can be expanded to the full $1.75 billion borrowing base upon bank approval.

The bank syndicate, which is co-led by JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A., is a diversified group consisting of nine domestic and seven foreign institutions. As of March 31, 2013, Antero had $404 million drawn under the credit facility and $32 million in letters of credit outstanding, resulting in $764 million of available liquidity and over $1.3 billion of unused borrowing base capacity.

The next borrowing base redetermination is expected to occur in October 2013. Antero has $25 million of debt maturing prior to the May 2016 maturity of the credit facility.

Antero Resources is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. Our website is located at




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Utica and Marcellus shale web sites

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