Vanguard Permian, LLC entered into a definitive agreement to acquire natural gas and liquids assets in the Woodford Shale and Fayetteville Shale from Antero Resources Corporation for approximately $430 million on June 1, 2012. Vanguard Permian, LLC intends to fund the transaction with borrowings under its existing reserve-based credit facility. The transaction is subject to antitrust approval and regulatory approval from the Federal Energy Regulatory Commission. The transaction is expected to close on or before June 29, 2012. The transaction is expected to be accretive to distributable cash flow of Vanguard Permian, LLC. Yvette Schultz and John B. Connally of Vinson & Elkins LLP acted as legal advisor for Antero Resources Corporation and J. Patrick Doherty of Doherty & Doherty LLP acted as legal advisor for Vanguard Permian, LLC. Chris Miller, Sam Pitts and Tim Saxman of Citigroup, Inc. (NYSE:C) and Frank Murphy, Curtis Goot and Jim Penilla of Robert W. Baird & Co. Incorporated acted as financial advisor for Antero Resources Corporation.