Antero Resources Corp. v. South Jersey Resources Group

TYMKOVICH, Chief Judge.

Antero Resources Company and South Jersey Gas Company entered into a eight-year contract for Antero to deliver natural gas from the Marcellus Shale formation to gas meters located on the Columbia Pipeline in West Virginia. The parties tied gas pricing to the Columbia Appalachia Index-an index created by a private publisher and widely used in the natural gas industry. During performance of the contract, the price of natural gas linked to the Index increased. South Jersey contested the higher prices, arguing that modifications to the Index materially changed the pricing…