Crestwood, First Reserve Grab Antero Shale Assets For $415M

Law360, New York (February 27, 2012, 3:32 PM EST) -- Natural gas processor Crestwood Midstream Partners LP and private equity firm First Reserve Corp. will pay up to $415 million in cash for some of Antero Resources Appalachian Corp.'s Marcellus Shale gathering system assets near Clarksburg, W.Va., the companies said Monday.

The purchase price includes $375 million in cash plus up to $40 million in additional price payments for Antero based upon annual production levels in 2012 and 2013, they said.

Through a joint venture with an affiliate of First Reserve, Crestwood will acquire 33 miles...
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