Welcome to our dedicated page for ANTERO RESOURCES CORPORATION news (Ticker: AR), a resource for investors and traders seeking the latest updates and insights on ANTERO RESOURCES CORPORATION stock.
Antero Resources Corporation (NYSE: AR) is a leading independent exploration and production (E&P) company headquartered in Denver, Colorado. Engaged primarily in the acquisition, development, and production of natural gas, natural gas liquids (NGLs), and oil properties, Antero operates in the prolific Appalachian Basin, focusing on the Marcellus and Utica shales in West Virginia and Ohio.
At the close of 2023, Antero reported proven reserves of 18.1 trillion cubic feet equivalent (Tcfe) of natural gas, with an impressive production average of 3,483 million cubic feet equivalent per day (Mcfe/d), comprising 35% liquids and 65% natural gas. The company's strategic emphasis on liquids-rich drilling opportunities has been a key driver of its robust financial and operational performance.
In recent news, Antero's second and third quarter 2023 results exhibited substantial operational efficiencies. During these quarters, the company set various drilling and completion records, enhancing its capital efficiency and allowing for increased production guidance while maintaining the same capital budget. This operational excellence highlights Antero's capability to leverage technological advancements in drilling and completion, resulting in substantial cost savings and improved well performance.
Financially, Antero continues to demonstrate strong capital management. The company has successfully reduced its capital requirements for 2024 by 10% compared to 2023, thanks to improved capital efficiencies. Additionally, Antero has committed to returning 50% of its free cash flow to shareholders, underscoring its dedication to maximizing shareholder value.
Antero's strategic positioning also benefits from favorable macroeconomic trends, including increasing LNG exports and higher demand for natural gas-fired power generation. With 75% of its natural gas sold at premium delivery points in the LNG corridor, Antero is well-positioned to capitalize on rising NYMEX prices.
Recognized for its strong balance sheet, Antero received an investment-grade credit rating of BBB- from S&P in May 2024, further solidifying its financial standing. This upgrade supports a reduction in letters of credit and interest expenses, enhancing the company's financial flexibility.
Antero Resources remains committed to sustainable practices, including efforts to achieve Net Zero Scope 1 and Scope 2 GHG emissions. The company also engages in strategic partnerships and maintains an active organic leasing program, continually expanding its core inventory and drilling locations.
For the latest updates, financial reports, and operational results, visit the official Antero Resources website.
Antero Midstream (NYSE: AM) reported Q3 2024 financial results with Net Income of $100 million ($0.21 per diluted share), a 5% increase per share year-over-year. Adjusted EBITDA reached $256 million, up 2% from the prior year quarter. The company generated Free Cash Flow after dividends of $40 million, a 32% increase year-over-year. Key operational metrics showed mixed performance with high pressure gathering volumes up 4%, while fresh water delivery volumes decreased 33%. The company maintained a leverage ratio of 3.1x and announced the appointment of Jeffrey Muñoz to its Board of Directors.
Antero Resources reported Q3 2024 financial results with net production averaging 3.4 Bcfe/d, a 2% decrease year-over-year. The company posted a net loss of $20 million and Adjusted Net Loss of $37 million. Natural gas production decreased 4% to 2.2 Bcf/d, while liquids production increased 2% to 206 MBbl/d. The company achieved record operational efficiency with 12.1 completion stages per day and reduced its 2024 drilling and completion capital budget to $640-660 million due to efficiency gains and deferred completions. Antero realized premium pricing with a $0.98 per Mcfe premium to NYMEX and record C3+ NGL price premium of $2.29 per barrel.
Antero Resources (NYSE: AR) has announced its plans to release its third quarter 2024 earnings on Wednesday, October 30, 2024 after the close of trading on the New York Stock Exchange. The company will host a conference call on Thursday, October 31, 2024 at 9:00 am MT to discuss financial and operational results, followed by a brief Q&A session for security analysts.
To participate in the call, dial 877-407-9079 (U.S.) or 201-493-6746 (International) and reference "Antero Resources." A telephone replay will be available until November 7, 2024. The earnings conference call presentation and live webcast can be accessed on Antero's website, with the webcast archived for replay until November 7, 2024.
Antero Resources is an independent natural gas and natural gas liquids company operating in the Appalachian Basin, integrated with its affiliate Antero Midstream (NYSE: AM).
Antero Midstream (NYSE: AM) reported its second quarter 2024 financial and operating results. Key highlights include:
- Net Income was $86 million, or $0.18 per diluted share, consistent with the prior year quarter.
- Adjusted Net Income rose to $110 million, or $0.23 per diluted share, marking a 5% increase.
- Adjusted EBITDA was $255 million, up 5% from Q2 2023.
- Capital expenditures totaled $51 million.
- Free Cash Flow after dividends increased by 41% to $43 million.
- A strategic acquisition of Marcellus gathering and compression assets was completed for $70 million.
- Maintained leverage at 3.1x and received a credit rating upgrade to BB+ from S&P Global Ratings.
- Extended credit facility maturity to 2029, maintaining commitments of $1.25 billion.
Operational metrics showed mixed results with a 1% decrease in low pressure gathering volumes and a 23% drop in fresh water delivery volumes, while high pressure gathering volumes increased by 2%.
Antero Resources (NYSE: AR) reported its Q2 2024 results, highlighting a mixed performance.
Net production averaged 3.4 Bcfe/d, up 1% YoY. Natural gas production declined 4% to 2.1 Bcf/d, while liquids production rose 10% to 212 MBbl/d, now 37% of total production.
Realized natural gas equivalent price was $2.98 per Mcfe, a $1.09 premium to NYMEX. Reported a net loss of $66 million, with an adjusted net loss of $60 million (Non-GAAP). Adjusted EBITDAX was $151 million, and net cash from operations was $143 million.
Operational highlights include a record 11.9 completion stages per day and the second-highest production rate per well. Investment grade rating was achieved post upgrade from S&P.
Guidance for full-year 2024 was increased, with production expected between 3.375 to 3.425 Bcfe/d, driven by higher liquids volumes. C3+ NGL realized price guidance was raised, potentially boosting annual free cash flow by $60 million.
Despite financial losses, operational efficiency and strategic moves in NGL pricing remain strong points for Antero.
Antero Resources (NYSE: AR) will release its Q2 2024 earnings on July 31, 2024, post-market close. A conference call to discuss the financial results will occur on August 1, 2024, at 9:00 am MT. Analysts can join the call by dialing 877-407-9079 (U.S.) or 201-493-6746 (International). The conference ID is 13743656. A replay will be available until August 8, 2024. The earnings call and presentation can be accessed on Antero's website.
Antero Resources is a leading independent natural gas producer in the Appalachian Basin, operating primarily in West Virginia and Ohio, alongside Antero Midstream (NYSE: AM). The company focuses on acquiring, developing, and producing unconventional natural gas properties.
Antero Resources (NYSE: AR) has been upgraded to an investment grade credit rating of BBB- from BB+ by S&P Global Ratings, effective May 15, 2024. This upgrade follows the investment grade rating by Fitch Ratings since September 2022. The new rating is expected to significantly reduce letters of credit tied to Antero's firm transportation portfolio and lower interest expenses.
Michael Kennedy, CFO of Antero Resources, attributed this achievement to the company's development program and debt reduction strategy, which has cut over $2 billion in debt since late 2019. Antero Resources is a leading operator in the Appalachian Basin, focusing on natural gas and liquids production.
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