Antero will buy HG Energy’s gas assets for $2.8 billion

Antero Resources announced on Monday that it will buy assets from privately-held HG Energy for $2.8 billion as part of its expansion plans.

Separately Antero Midstream will purchase HG Energy's Midstream assets, which includes gathering and water services, for $1.1 billion.

Antero now has natural gas reserves in the U.S. at a time of soaring U.S. futures, boosted by heavy LNG exports, accelerating AI-driven data centres, and other power-hungry sectors.

Last week, U.S. Natural Gas Futures reached their highest level in almost three years.

Antero also announced that it had agreed to sell the upstream assets of its Ohio Utica Shale for $800 millions and its midstream assets in Utica for $400,000,000.

All transactions will be subject to the usual closing conditions, and should close by early 2026.

The HG acquisition will add 850 million cubic foot equivalent per day to natural gas production at West Virginia's Marcellus shale.

HG Energy, a company owned by Quantum Energy Partners and based in West Virginia’s Appalachian Basin, was founded in 2011.

Assets of the company trace their roots back to South Penn Oil and Pennzoil, which were acquired by East Resources from South Penn Oil. They have been expanded in subsequent transactions.

(source: Reuters)