Daily News: May 10, 2013

JPMorgan, Wells Up Antero Resources Borrowing Base

Antero Resources announced that the borrowing base under its bank credit facility was 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 and Wells Fargo Bank, is a diversified group consisting of nine domestic and seven foreign institutions.

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.