* Lists Barclays, Citigroup, JP Morgan as lead underwriters
* To list stock on NYSE under symbol "AR"
* To use proceeds from offering to repay debt
June 13 Antero Resources Corp, an oil and
natural gas company controlled by Warburg Pincus LLC, filed with
U.S. regulators on Thursday to raise up to $1 billion in an
initial public offering of its common stock.
The Denver, Colorado-based company has around 317,000 acres
in the Marcellus shale formation in West Virginia and
Pennsylvania as well as 94,000 acres in Ohio's Utica shale.
The company's proved, probable and possible reserves were
26.1 trillion cubic feet equivalent of gas and oil as of Dec.
31, it said in a filing with the U.S. Securities and Exchange
Antero reported an operating income of $444 million on total
revenue of $735.7 million in 2012.
Reuters reported last month that Antero was preparing for an
IPO that could value it at as much as $10 billion.
The company said Barclays, Citigroup and JP Morgan are lead
underwriters to the offering.
Jefferies LLC is acting as the independent underwriter, the
The Financial Industry Regulatory Authority's (FINRA) rules
require the participation of an independent underwriter if
underwriters to an offering are lenders under a company's credit
Private equity firms Warburg, Yorktown Energy Partners and
Lehman Brothers Merchant Banking Group initially invested $260
million in Antero in 2003. The consortium led a $1 billion
equity investment in the company in 2007.
Antero, which intends to list its common stock on the New
York Stock Exchange under the symbol "AR", plans to use the
proceeds of the offering to repay debt.
The filing did not reveal how many shares the company
planned to sell or their expected price.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.