•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Antero Resources closes Oklahoma Midstream sale to Cardinal

    DENVER – Antero Resources has closed the previously announced sale of its midstream assets, located in the Woodford Shale area of the Arkoma Basin, to Cardinal Midstream, LLC for $270 million, after giving effect to working capital adjustments.

    The sale to Cardinal included a 60% membership interest in Centrahoma Processing LLC, which is a joint venture with MarkWest Energy Partners LP that operates two cryogenic processing plants in the Arkoma Basin with 100 MMcfd of natural gas processing capacity.

    In addition, Antero sold to Cardinal approximately 50 miles of gathering pipeline and an amine treating plant with 42 MMcfd of capacity.

    Following the midstream closing and application of proceeds to the repayment of bank debt, Antero has $532 million of available and undrawn borrowing capacity under its new bank credit facility and $49 million of cash on hand resulting in total liquidity of $581 million. 

    Source:  Antero Resources

    Related Articles

    MIDSTREAM NEWS

    08/11/2014

    The future of exports

    08/11/2014 The decades old ban on exporting domestic crude oil is under review by the Obama administration in light of radical changes in domestic oil production brought about by fracking and other advanced d...

    Enlink Midstream updates on new projects in key growth regions

    08/06/2014

    EnLink Midstream Partners LP and EnLink Midstream LLC have reported two new growth projects that will expand EnLink Midstream’s footprint in the Permian Basin and south Louisiana.

    ONEOK to construct NG processing facility in North Dakota

    07/30/2014 ONEOK Partners LP plans to invest $605 million to $785 million between now and the end of the third quarter 2016 to build a new 200 million-cubic-feet-per-day (MMcf/d) natural gas processing facili...

    ONEOK to invest $365–$470M in Oklahoma SCOOP play

    07/25/2014 ONEOK Partners LP plans to invest $365 million to $470 million between now and the fourth quarter of 2016 to construct a new 200 million-cubic-feet-per-day (MMcf/d) natural gas processing facility ...

    More Oil & Gas Financial Articles

    MIDSTREAM NEWS

    Mon, Aug 11, 2014

    The future of exports

    Mon, Aug 11, 2014

    The decades old ban on exporting domestic crude oil is under review by the Obama administration in light of radical changes in domestic oil production brought about by fracking and other advanced drilling technologies.

    Enlink Midstream updates on new projects in key growth regions

    Wed, Aug 6, 2014

    EnLink Midstream Partners LP and EnLink Midstream LLC have reported two new growth projects that will expand EnLink Midstream’s footprint in the Permian Basin and south Louisiana.

    ONEOK to construct NG processing facility in North Dakota

    Wed, Jul 30, 2014

    ONEOK Partners LP plans to invest $605 million to $785 million between now and the end of the third quarter 2016 to build a new 200 million-cubic-feet-per-day (MMcf/d) natural gas processing facility – the Demicks Lake plant – and related infrastructure in northeast McKenzie County, North Dakota, which will process natural gas produced from the Bakken shale play in the Williston Basin.

    ONEOK to invest $365–$470M in Oklahoma SCOOP play

    Fri, Jul 25, 2014

    ONEOK Partners LP plans to invest $365 million to $470 million between now and the fourth quarter of 2016 to construct a new 200 million-cubic-feet-per-day (MMcf/d) natural gas processing facility – the Knox plant – and related infrastructure in Grady and Stephens counties in Oklahoma to gather and process natural gas from the emerging South Central Oklahoma Oil Province (SCOOP).

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ