Antero Resources to Sell Oklahoma Midstream Assets

Antero Resources will sell its midstream assets in the Woodford Shale area of the Arkoma Basin of Oklahoma, US, to affiliates of Cardinal Midstream for $268m.

Under the agreements Antero will sell Cardinal its 60% membership interest in Centrahoma Processing.

Centrahoma Processing is a joint venture with MarkWest Energy Partners. It operates two cryogenic processing plants in the Arkoma Basin with 100mcfd of natural gas processing capacity.

Antero will also sell 50 miles of gathering pipeline in Antero’s Northern Front and East Rockpile areas of the Woodford Shale play and its amine-treating plant for CO2 removal in the East Rockpile area with a 42mcfd of capacity.

The transaction is expected to be completed in early November 2010.