Antero Resources Corporation, an independent oil and natural gas company, acquires, explores, and develops natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2014, the company had 543,000 net acres of oil and gas properties located in the Appalachian Basin in West Virginia, Ohio, and Pennsylvania. It also owns and operates 153 miles of gas gathering pipelines in the Marcellus Shale; and 96 miles of low-pressure, high-pressure, and condensate pipelines in the Utica Shale. The company was formerly known as Antero Resources Appalachian Corporation and changed its name to Antero Resources Corporation in June 2013. Antero Resources Corporation was founde...
1615 Wynkoop Street
Denver, CO 80202
Founded in 2002
Antero Resources Corporation Declares Distribution for the First Quarter of 2015, Payable on May 27, 2015
Apr 29 15
Antero Resources Corporation announced that on April 15, 2015, the company declared a cash distribution of $0.18 per unit ($0.72 per unit annualized) for the first quarter of 2015. The distribution represents a 6% increase compared to the Partnership's minimum quarterly distribution of $0.17 per unit ($0.68 per unit annualized). The distribution is payable on May 27, 2015 to unitholders of record as of May 13, 2015.
Antero Resources Corporation Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015
Apr 29 15
Antero Resources Corporation reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue was $1,229,687,000 against $168,207,000 a year ago. Operating income was $699,694,000 against operating loss of $104,079,000 a year ago. Income before income taxes was $646,509,000 against loss before income taxes of $135,421,000 a year ago. Net income and comprehensive income attributable to the company was $394,431,000 or $0.36 per basic and diluted share against net loss and comprehensive loss attributable to the company of $94,759,000 or $1.49 per basic and diluted share a year ago. Net cash provided by operating activities was $351,394,000 against $274,307,000 a year ago. Additions to other property and equipment were $2,103,000 against $7,783,000 a year ago. Adjusted net income was $71 million ($0.27 per share), a 20% decrease compared to the prior year quarter and a 9% decrease sequentially. Adjusted EBITDAX of $355 million for the first quarter of 2015 was 30% higher than the prior year quarter due to increased production and revenue. Capital expenditures were $569 million on development, $22 million on fresh water distribution infrastructure and $52 million on base leasing. Adjusted EBITDA for the first quarter was $36 million, which was an increase of 326% from the prior year quarter and 26% sequentially.
For the quarter, the company reported net daily production for the first quarter of 2015 averaged 1,485 MMcfe/d, an 89% increase as compared to the first quarter of 2014 and a 17% increase from the fourth quarter of 2014. Net daily production was comprised of 1,245 MMcf/d of natural gas (84%), 36,006 Bbl/d of natural gas liquids (14%) and 4,068 Bbl/d of crude oil (2%). First quarter 2015 net liquids daily production (NGLs and oil) of 40,074 Bbl/d increased 145% as compared to the first quarter of 2014 and 32% from the fourth quarter of 2014. First quarter 2015 net liquids daily production (NGLs and oil) of 40,074 Bbl/d increased 145% as compared to the first quarter of 2014 and 32% from the fourth quarter of 2014.
For the first quarter of 2015, the company reported impairment of unproved properties of $8,557,000 against $1,397,000 a year ago.
Antero Resources Corporation Reports Operational Results for the First Quarter of 2015; Provides Guidance for the Year 2015
Apr 16 15
Antero Resources Corporation reported operational results for the first quarter of 2015. The company's average net daily gas equivalent production was a record 1,485 MMcfe/d, an 89% increase over the prior year quarter and a 17% increase sequentially. Average net daily liquids production was a record 40,000 Bbl/d, a 145% increase over the prior year quarter and a 32% increase sequentially. Realized natural gas price before hedging averaged $2.81 per Mcf, a $0.17 negative differential to Nymex. Realized natural gas price after hedging averaged $4.37 per Mcf, a $1.39 positive differential to Nymex. Realized C3+ NGL price before hedging averaged $24.31 per barrel, 50% of WTI for the period. Realized natural gas equivalent price including NGLs, oil and hedges averaged $4.42 per Mcfe.
For the year 2015, the company expected to defer 50 well completions in the Marcellus into 2016. These 50 wells were originally scheduled to be completed during the second and third quarter of 2015. As a result of the reduced activity, Antero estimates its daily production will average 1,375 to 1,425 MMcfe/d during the remainder of 2015 resulting in 2015 average net daily production in excess of 1.4 Bcfe/d including average net daily liquids production of over 37,000 Bbl/d.