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Antero Resources Corp T.AR


Primary Symbol: AR

Antero Resources Corporation is an independent natural gas and natural gas liquids (NGLs) company. The Company is engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia and Ohio. The Company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies provide the means to economically develop and produce natural gas, NGLs and oil from unconventional formations. The Company operates through three segments: the exploration, development, and production of natural gas, NGLs and oil; marketing of excess firm transportation capacity; and midstream services through its equity method investment in Antero Midstream Corporation (Antero Midstream). The Company holds approximately 515,000 net acres of natural gas, NGLs and oil properties located in the Appalachian Basin, primarily in West Virginia and Ohio.


NYSE:AR - Post by User

Post by Powermano7on Dec 04, 2023 12:42am
253 Views
Post# 35766467

Hedging to get the $250 million loan to finish the mine?

Hedging to get the $250 million loan to finish the mine?

Sheep has the hedging changed? 150000 oz hedged untill 4Q/24 and another 150000 oz hedged untill 3Q/27 both at US$1860/oz. 
...
US$250 Million
 Credit Facilities

Argonaut is also pleased to announce, further to its news release dated June 23, 2022, that it has signed the binding commitment letter from a syndicate of lenders for the financing of a six year, US$200 million term loan credit facility and a three year revolving credit facility of US$50 million (the "Facilities"), for a total debt Facilities limit of US$250 million. The proceeds of the Facilities are to be used to refinance the Company's existing debt and for general corporate purposes, including ongoing development and expansion capital of the Magino project in Ontario, Canada and other producing assets.

Closing of the Facilities is subject to a number of conditions precedent as further described in the Company's June 23, 2022 news release.

The Company anticipates that the Facilities together with the net proceeds of the Offering, will fully finance the remaining portion of its Magino project. Endeavour Financial assisted the Company as its financial advisor in connection with the Facilities.

Hedging

Argonaut is also pleased to announce that, as one of the conditions precedent for closing of the Facilities, it has made the following arrangements to hedge its gold price exposure over the life of the loan on the following terms:

  • Beginning in the third quarter 2023, Argonaut has hedged 25,000 gold ounces per quarter for the first six quarters and 15,000 gold ounces for the remaining 10 quarters at a gold price of US$1,860/oz. ...
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