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Warburg's Antero Resources prices upsized IPO above planned range
October 9, 2013 / 11:49 PM / 4 years ago

Warburg's Antero Resources prices upsized IPO above planned range

(Reuters) - Antero Resources Corp (AR.N), an oil and natural gas company controlled by Warburg Pincus LLC, upsized its initial public offering and priced it above the indicated range, valuing the company at over $11 billion.

The company sold 35.73 million shares at $44 per share, raising $1.57 billion, Antero said in a statement on Wednesday.

It had planned to sell 30 million shares in the IPO at between $38 and $42 per share.

The company’s shares are scheduled to begin trading on Thursday on the New York Stock Exchange under the symbol “AR”.

Antero currently holds about 329,000 net acres in the Marcellus Shale formation and about 102,000 net acres in the core of Ohio’s Utica Shale.

As of June 30, Antero’s estimated proved reserves were 6.3 trillion cubic feet equivalent (Tcfe).

Barclays, Citigroup and JPMorgan were the lead underwriters to the offering.

Reporting by Aman Shah in Bangalore; Editing by Bernard Orr

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