Antero to Buy Gas Assets From Quantum’s HG for $2.8 Billion

Antero Resources Corp. and its pipeline affiliate agreed to buy natural gas production and pipeline assets from privately held HG Energy II LLC for a combined $3.9 billion in cash, expanding its reserves of the fuel just as prices are rebounding.

Antero Resources will pay $2.8 billion for upstream assets in the Marcellus shale in West Virginia, it said Monday in a statement. The company also announced the sale of production assets in Ohio’s Utica Shale for $800 million in cash. Bloomberg News earlier reported that the two companies were close to a deal.