Antero Resources closed an overriding royalty interest (ORRI) transaction with Sixth Street Partners. The deal will bring in up to $402 million in cash, which Antero will use to repay borrowings under its revolving credit facility. The company received an initial $300 million at closing and will get up to $102 million over the next 12 months if it reaches certain volume thresholds.
Watch my trade live here...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-15 10:44:16 | AR | buy | $3.628 | long |
2020-06-15 14:05:12 | AR | sell | $3.910 | long |
2020-06-15 14:18:42 | AR | sell | $3.940 | 0 |
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