Antero Files Registration Statement for Midstream MLP

DENVER, Feb. 7, 2014 /PRNewswire/ -- Antero Resources (NYSE: AR) ("Antero" or the "Company") today announced the filing of a Registration Statement on Form S-1 with the Securities and Exchange Commission for the initial public offering of its midstream business as a master limited partnership (the "MLP"). The number of common units to be offered and the price range for the offering have not been determined. Antero intends to apply for a listing of the common units on the New York Stock Exchange under the symbol "AM." The Company intends to contribute substantially all of its midstream assets to the MLP and expects to retain a substantial portion of the MLP's common and subordinated units. The MLP's general partner interest and incentive distribution rights will be owned by Antero Resources Investment LLC, the Company's primary stockholder.

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Barclays Capital Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC will act as book running managers of the offering. The offering of common units will be made only by means of a prospectus. A copy of the preliminary prospectus relating to this offering may be obtained, when available, from:

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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. Antero Midstream also provides gathering, compression and fresh water distribution services to the properties.

Cautionary Statements

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Antero's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although Antero 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.

We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of natural gas, NGLs and oil. 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, NGLs and oil reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and the other risks described under the heading "Risk Factors" in our Final Prospectus dated October 9, 2013 on file with the Securities and Exchange Commission (File No. 333-189284).

SOURCE Antero Resources