Antero-Dominion Redux

Dominion and Antero have agreed to amend the deal they reached on June 30 by reducing the acreage involved. Originally, Antero was to acquire 205,000 acres of leasehold for $552 million. Dominion retained a 7.5% overide in the deal. Under the new arrangement, Dominion will maintain the overide but will reduce the overall acreage. The deal now will include only 114,259 acres for $347 million. As before, the rights are for the Marcellus Shale only, but the cost has increased from $2,693 to about $3,037 per acre. The parties are citing Antero's inablity to secure adequate follow on financing under current conditions in the credit market.

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