Antero Resources Corporation (NYSE: AR) agreed to acquire the upstream assets of HG Energy II LLC for $2.8 billion.
The deal includes cash plus the assumption of HG Energy's commodity hedge book, subject to customary closing adjustments. The transaction is expected to close in the second quarter of 2026.
Separately, Antero Midstream (NYSE:AM) also signed an agreement to acquire the midstream assets from HG Energy for total consideration of $1.1 billion in cash, subject to customary closing adjustments.
Jefferies LLC served as lead financial advisor to HG Energy and Quantum Capital Group. Wells Fargo and Truist served as financial advisors to HG Energy. Kirkland & Ellis served as legal counsel to HG Energy.