Antero Resources (AR) has set up a commercial paper program under which it may issue up to $1.65 billion of short-term unsecured notes, the company said in a regulatory filing Tuesday.
The notes may mature up to 397 days from issuance and will be sold in the US commercial paper market at par or at a discount, with interest rates determined at issuance, Antero Resources said.
The company said its senior unsecured revolving credit facility is expected to serve as a liquidity backstop for the program.
Net proceeds from the program will be used for general corporate purposes, including working capital, capital expenditures, acquisitions and debt repayment, Antero Resources said.