The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kalei Akamine - BofA Securities Inc - Analyst
: I guess, what stands out to me on this deal is the runway on the midstream FT at 600 million cubic feet per day. It looks like a solid fit with
your growth strategy. So my question is, how is that FT being used today? As you guys grow, are you going to back out marketing volumes
and therefore, third-party revenues?
Question: Kalei Akamine - BofA Securities Inc - Analyst
: So this piece comes with 600 million cubic feet of [FTE] on the REX pipeline. My question is, how is that FTE being used today? Is it being
leased out to other parties in the region? And if other parties are using it, then there's already volumes on it, and therefore, it's generating
Question: Kalei Akamine - BofA Securities Inc - Analyst
: That makes sense. My apologies. For my second question, I want to ask about inventory depth. So here, you called out 110 undrilled locations.
Is there any upside to this number from perhaps exploring deeper zones or other zones in the area? I know some folks are testing the
Marcellus. Do you guys have any intention of doing that?
Question: Kalei Akamine - BofA Securities Inc - Analyst
: It's a good deal, guys. Thank you.
Question: Noel Parks - Tuohy Brothers Investment Research - Analyst
: Just one thing I was wondering, is the acquired Acreage all HBP from prior production?
Question: Noel Parks - Tuohy Brothers Investment Research - Analyst
: Okay. Great. And you were asked a little earlier about alternate horizons in the plan and emphasized that it was underwritten -- the deal
was underwritten just on the Utica. Is there and you also talk about lateral length. Are there any spacing adjustments that you might make
as far as density. I'm just wondering if you sort of philosophically we're well aligned with how Antero had developed the assets to date or
whether you had any differences there?
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