Antero Resources Corp. is partnering with an affiliate of Quantum Energy Partners to fund a portion of its Marcellus and Utica shale development through 2024, according to Natural Gas Intelligence.
QL Capital Partners would fund 20% of Antero’s development capital spending this year and 15-20% from 2022 to 2024 in exchange for working interest in each well spud. Antero’s new partner has also agreed to pay a drilling carry each year if certain performance thresholds are met.
The partnership is worth up to $550 million and will help fund drilling 60 wells, focusing on the Marcellus Shale of West Virginia.
Learn more: Natural Gas Intelligence > Antero partnering with Quantum to fund some Marcellus Development through 2024
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