Antero Resources announced that the borrowing base under its bank credit facility has been increased to $1.65 billion. This represents a $300 million increase over Antero's previous borrowing base. Lender commitments under the facility were raised to $950 million, a $200 million increase. The $950 million commitment can be expanded to the full $1.65 billion borrowing base upon bank approval.
The bank syndicate, which is co-led by J.P. Morgan Securities LLC and Wells Fargo Securities LLC, is a diversified group consisting of nine domestic and seven foreign institutions.
The next regular borrowing base redetermination is scheduled to occur in May 2013. Antero has only $25 million of debt maturing before 2016.