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Antero Resources, a Denver based oil and gas driller, said Monday that it has completed the $445 million cash sale of all of its exploration and production assets in the Arkoma Basin to Vanguard Natural Resources LLC.
The assets consisted of 66,000 acres in the Woodford Shaleplay in the Arkoma Basin in Oklahoma and 5,300 net acres in the Fayetteville Shale play in Arkansas, Antero said in a statement.
The assets contained an estimated 251 billion cubic feet of proved developed reserves as of March 31, and 833 producing wells.
The proceeds of the sale will be used to pay down debt, the company said.
