Willkie represented J.P. Morgan Ventures Energy Corporation in the transaction.
On August 10, Willkie client J.P. Morgan Ventures Energy Corporation agreed to purchase a volumetric production payment (VPP) from Antero Resources Corporation for a purchase price of approximately $220 million. The VPP features a seven-year term with an effective date of July 1, 2020 and ending on June 30, 2027.
The net production of hydrocarbons from the VPP is 60 MMcf/d for the second half of 2020, 75 MMcf/d in 2021 and then declines to 40 MMcf/d by the first half of 2027 prior to termination of the VPP.
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The Willkie deal team was led by partner Michael De Voe Piazza and included partners Ryan Cicero, David Aaronson, Robert Jacobson and Ana Alfonso.