DENVER, Jan. 11, 2021 /PRNewswire/ -- Antero
Resources Corporation (NYSE: AR) ("Antero Resources")
announced today that, subject to market conditions, it intends to
offer $500 million in aggregate
principal amount of senior unsecured notes due 2029 (the
"Notes") in a private placement to eligible purchasers.
Antero Resources intends to use a portion of the net proceeds
from the offering to fund the redemption of all $310.5 million aggregate principal amount of its
5.125% senior notes due 2022 (the "2022 Notes") not previously
called for redemption at par plus accrued interest and to use the
remaining net proceeds to repay borrowings under its credit
facility. The redemption of all 2022 Notes not previously called
for redemption is expected to be conditioned on the completion of
the offering of the Notes. The offering of the Notes is not
contingent upon the completion of such redemption.
The Notes to be offered have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws, and unless so registered, may not be offered
or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The Notes will be offered only to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act and outside
the United States pursuant to
Regulation S under the Securities Act.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the Notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful. This press release shall not constitute a notice of
redemption of the 2022 Notes.
Antero Resources is an independent natural gas and natural
gas liquids company engaged in the acquisition, development and
production of unconventional properties located in the Appalachian
Basin in West Virginia and
Ohio. In conjunction with its
affiliate, Antero Midstream (NYSE: AM), Antero is one of the most
integrated natural gas producers in the U.S.
This release includes "forward-looking statements." Such
forward-looking statements are subject to a number of risks and
uncertainties, many of which are not under Antero Resources'
control. All statements, except for statements of historical fact,
made in this release regarding activities, events or developments
Antero Resources expects, believes or anticipates will or may occur
in the future, such as statements regarding the proposed offering
and the intended use of proceeds, including to fund the redemption
of all 2022 Notes not previously called for redemption, are
forward-looking statements within the meaning of Section 27A of the
Securities Act 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 Resources 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. Except
as required by law, Antero Resources expressly disclaims any
obligation to and does not intend to publicly update or revise any
forward-looking statements.
Antero Resources cautions you that these forward-looking
statements are subject to all of the risks and uncertainties,
incident to the exploration for and development, production,
gathering and sale of natural gas, NGLs and oil most of which are
difficult to predict and many of which are beyond the Antero
Resources' control. These risks include, but are not limited to,
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 flows and access to
capital, the timing of development expenditures, impacts of world
health events, including the COVID-19 pandemic, potential shut-ins
of production due to lack of downstream demand or storage capacity,
and the other risks described under the heading "Item 1A. Risk
Factors" in Antero Resources' Annual Report on Form 10-K for the
year ended December 31, 2019 and in
its subsequently filed Quarterly Reports on Form 10-Q.
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SOURCE Antero Resources Corporation