Antero Resources Corporation, an independent oil and natural gas company, acquires, explores, produces, and develops natural gas, natural gas liquids, and oil properties in the United States. As of December 31, 2016, the company had 616,000 net acres of oil and gas properties located in the Appalachian Basin in West Virginia, Ohio, and Pennsylvania. It also owned and operated 213 miles of gas gathering pipelines in the Marcellus Shale; and 113 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 Corporatio...
1615 Wynkoop Street
Denver, CO 80202
Founded in 2002
Antero Resources Corporation Presents at Barclays CEO Energy-Power Conference, Sep-05-2017 12:25 PM
Aug 31 17
Antero Resources Corporation Presents at Barclays CEO Energy-Power Conference, Sep-05-2017 12:25 PM. Venue: Sheraton New York Times Square, 811 Seventh Avenue, New York, New York, United States. Speakers: Glen C. Warren, Co-Founder, President, CFO, Secretary & Director, Paul M. Rady, Co-Founder, Chairman & Chief Executive Officer.
Antero Resources Corporation Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2017; provides capital expenditure and Production Guidance for the Year 2017
Aug 3 17
Antero Resources Corporation reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2017. For the quarter, the company’s total revenue was $790,389,000 against negative revenue of $249,198,000 a year ago. Operating income was $123,743,000 against loss of $889,873,000 a year ago. Income before income taxes was $58,784,000 against loss of $951,984,000 a year ago. Net loss and comprehensive loss attributable to Antero Resources Corporation was $5,132,000 against $596,244,000 a year ago. Loss per common share "assuming dilution was $0.02 against $2.12 a year ago. Adjusted net loss was $12,842,000 against income of $40,722,000 a year ago. Total Adjusted EBITDAX was $320,795,000 against $268,192,000 a year ago.
For the six months, the company’s total revenue was $1,985,968,000 against $471,806,000 a year ago. Operating income was $625,086,000 against loss of $811,124,000 a year ago. Income before income taxes was $495,688,000 against loss of $936,519,000 a year ago. Net income and comprehensive income attributable to Antero Resources Corporation was $263,264,000 against loss of $601,299,000 a year ago. Income per common share "assuming dilution was $0.83 against loss of $2.15 a year ago. Net cash provided by operating activities was $647,586,000 compared with $578,706,000 a year ago. Additions to other property and equipment were $6,564,000 against $1,296,000 a year ago. Adjusted net income was $43,225,000 against $87,613,000 a year ago. Consolidated net debt was $5,251,783,000. Total Adjusted EBITDAX was $686,087,000 against $687,513,000 a year ago.
The company's et daily production for the second quarter of 2017 averaged 2,200 MMcfe/d, including 102,766 Bbl/d of liquids (28% liquids). Second quarter 2017 production represents an organic production growth rate of 25% from the second quarter of 2016 and a 3% increase compared to the first quarter of 2017. Second quarter 2017 C3+ natural gas liquids (“NGLs”) and oil production averaged 68,026 Bbl/d and 6,738 Bbl/d, respectively. Ethane (C2) production averaged 28,003 Bbl/d while leaving approximately 91,710 Bbl/d of ethane in the natural gas stream. Total liquids production of 102,766 Bbl/d for the second quarter of 2017 represents an organic production growth rate of 37% and 4% as compared to the second quarter of 2016 and first quarter of 2017, respectively.
For the six months, the company's natural gas was 284 Bcf against 242 Bcf a year ago. C3+ NGLs was 12,159 MBbl against 9,452 MBbl a year ago. Oil was 1,256 MBbl against 949 MBbl a year ago. Combined Production was 393 Bcfe against 320 Bcfe a year ago. Daily combined production was 2,172 MMcfe/d against 1,760 MMcfe/d a year ago.k
For the year 2017, the company expected net production guidance from a range of 2,160 to 2,250 Bcfe/d to a range of 2,250 to 2,300 Bcfe/d. This represents a 3% increase from the previously announced guidance. The increase in production guidance is primarily a function of the improved recoveries Antero continues to achieve through its advanced completions. Antero’s advanced completions have utilized 1,500 to 2,500 pounds of proppant per foot,l averaging 2,045 pounds of proppant per foot year to date in 2017. These techniques have yielded encouraging results with initial wellhead EURs ranging from 1.9 to 2.7 Bcf per 1,000’ of lateral as compared to the company’s historical 1.7 Bcf per 1,000’ type curve. Capital expenditure of $1,300 million.