Antero Resources Buys Up WV Mineral Rights

by Elizabeth Alford on June 14, 2016

Antero increases its mineral rights holdings in West Virginia by 10%.

Related: West Virginia to Reconsider Forced Pooling

Last week, Denver-based Antero Resources announced it had purchased the mineral rights to 55,000 net acres in West Virginia in a $450 deal with Southwestern Energy. This purchase brought the company’s lease holdings in the state to more than 535,000 net acres.

“The properties are located in Doddridge, Harrison, Marion, Monongalia, Pleasants, Ritchie, Tyler and Wetzel Counties and are currently producing from the Marcellus Shale. Net production from this acreage is approximately 14 MMcfe per day, primarily from nonoperated wells, and proved reserves on this acreage were 11 Bcfe as of December 31, 2015. The Company has no current plans to drill on these properties before 2023.”

The debate over pooling in West Virginia has been in high gear recently with several legislative attempts failing in 2015. In February, West Virginia House Energy Committee approved a new bill that would effectively remove the need for gas drillers to negotiate with a holdout mineral owner as long as they could lease with a simple majority of the other co-owners in that particular piece of property.

Own minerals in Virginia? Join the conversation.

Antero has been one of the biggest proponents of adopting a forced pooling law in West Virginia and filed nearly two-dozen lawsuits over the past two years in Doddridge and Harrison counties. In at least 10 cases, these lawsuits were dismissed after holdout mineral owners relented and signed leases.

Read more here

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