Antero Resources Corporation Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Options to Purchase Additional Common Stock

DENVER, Oct. 16, 2013 /PRNewswire/ -- Antero Resources Corporation (the "Company") today announced the completion of its initial public offering of 41,083,750 shares of its common stock at a price to the public of $44.00 per share, including the exercise in full by the underwriters of their options to purchase an additional 3,409,091 shares of common stock from the selling stockholder and an additional 1,949,659 shares of common stock from the Company.

Net proceeds received by the Company from the sale of 37,674,659 shares of common stock were approximately $1.58 billion, after deducting underwriting discounts. The Company intends to use the net proceeds to repay the outstanding borrowings under its credit facility and to fund a portion of its drilling and development program.

Barclays, Citigroup, J.P. Morgan, Credit Suisse, Jefferies and Wells Fargo Securities acted as book running managers of the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering will be made only by means of a written prospectus forming part of the effective registration statement. A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933, may be obtained, when available, from:

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Toll-Free: (888) 603-5847

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Toll-Free: (800) 831-9146

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Toll-Free: (866) 803-9204

Credit Suisse Securities (USA) LLC
c/o Prospectus Department
One Madison Avenue, Level B1
New York, New York 10010
Toll-Free: (800) 221-1037

Jefferies LLC

c/o Equity Syndicate Prospectus Department
520 Madison Avenue
12th Floor
New York, New York 10022

Toll-Free: (877) 547-6340

Wells Fargo Securities LLC
c/o Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Toll-Free: (800) 326-5897

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Antero Resources Corporation is an independent oil and natural gas company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania.

This release includes "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Antero Resources Corporation's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of natural gas and oil. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital, and the timing of development expenditures.

SOURCE Antero Resources LLC