Antero Resources Files Q2 2024 10-Q

TL;DR

Antero Resources dropped its Q2 2024 10-Q. Check financials.

AI Summary

Antero Resources Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial position and operational activities. Key financial data and disclosures are presented, reflecting the company's performance in the second quarter of 2024.

Why It Matters

This filing provides investors and analysts with the latest financial and operational details for Antero Resources, crucial for understanding the company's performance and future outlook in the energy sector.

Risk Assessment

Risk Level: medium — As a publicly traded company in the volatile oil and gas sector, Antero Resources faces inherent market and operational risks that are detailed in its SEC filings.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)

Key Players & Entities

• ANTERO RESOURCES Corp (company) — Filer
• 0001433270 (company) — Central Index Key
• 20240630 (date) — Reporting Period End Date
• 20240731 (date) — Filing Date
• DENVER (location) — Company Headquarters City
• 303-357-7325 (phone_number) — Business Phone Number

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 AR New York Stock Exchange Indica

Filing Documents

• ar-20240630x10q.htm (10-Q) — 3787KB
• ar-20240630xex10d2.htm (EX-10.2) — 990KB
• ar-20240630xex31d1.htm (EX-31.1) — 16KB
• ar-20240630xex31d2.htm (EX-31.2) — 17KB
• ar-20240630xex32d1.htm (EX-32.1) — 7KB
• ar-20240630xex32d2.htm (EX-32.2) — 7KB
• ar-20240630xex95d1.htm (EX-95.1) — 3KB
• ar-20240630x10q001.jpg (GRAPHIC) — 8KB
• 0001558370-24-010482.txt ( ) — 16569KB
• ar-20240630.xsd (EX-101.SCH) — 81KB
• ar-20240630_cal.xml (EX-101.CAL) — 96KB
• ar-20240630_def.xml (EX-101.DEF) — 347KB
• ar-20240630_lab.xml (EX-101.LAB) — 706KB
• ar-20240630_pre.xml (EX-101.PRE) — 500KB
• ar-20240630x10q_htm.xml (XML) — 3642KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 50

—OTHER INFORMATION

PART II—OTHER INFORMATION 50 Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities 51 Item 4. Mine Safety Disclosures 51 Item 5 Other Information 51 Item 6. Exhibits 52

SIGNATURES

SIGNATURES 53 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Some of the information in this Quarterly Report on Form 10-Q may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of historical fact included in this Quarterly Report on Form 10-Q, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. Words such as "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "believe," "project," "budget," "potential," or "continue," and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. When considering these forward-looking statements, investors should keep in mind the risk factors and other cautionary statements in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2023. These forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. Factors that could cause our actual results to differ materially from the results contemplated by such forward-looking statements include: our ability to execute our business strategy; our production and natural gas, natural gas liquids ("NGLs") and oil reserves; our financial strategy, liquidity and capital required for our development program; our ability to obtain debt or equity financing on satisfactory terms to fund acquisitions, expansion projects, working capital requirements and the repayment or refinancing of indebtedness; our ability to execute

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION ANTERO RESOURCES CORPORATION Condensed Consolidated Balance Sheets (In thousands, except per share amounts) (Unaudited) December 31, June 30, 2023 2024 Assets Current assets: Accounts receivable $ 42,619 23,552 Accrued revenue 400,805 362,451 Derivative instruments 5,175 2,440 Prepaid expenses 12,901 9,789 Other current assets 14,192 10,758 Total current assets 475,692 408,990 Property and equipment: Oil and gas properties, at cost (successful efforts method): Unproved properties 974,642 963,023 Proved properties 13,908,804 14,179,028 Gathering systems and facilities 5,802 5,802 Other property and equipment 98,668 106,684 14,987,916 15,254,537 Less accumulated depletion, depreciation and amortization ( 5,063,274 ) ( 5,296,438 ) Property and equipment, net 9,924,642 9,958,099 Operating leases right-of-use assets 2,965,880 2,797,447 Derivative instruments 5,570 3,176 Investment in unconsolidated affiliate 222,255 223,552 Other assets 25,375 24,579 Total assets $ 13,619,414 13,415,843 Liabilities and Equity Current liabilities: Accounts payable $ 38,993 38,229 Accounts payable, related parties 86,284 97,455 Accrued liabilities 381,340 365,347 Revenue distributions payable 361,782 329,375 Derivative instruments 15,236 22,756 Short-term lease liabilities 540,060 525,636 Deferred revenue, VPP 27,101 26,153 Other current liabilities 1,295 1,061 Total current liabilities 1,452,091 1,406,012 Long-term liabilities: Long-term debt 1,537,596 1,591,208 Deferred income tax liability, net 834,268 830,826 Derivative instruments 32,764 23,516 Long-term lease liabilities 2,428,450 2,268,031 Deferred revenue, VPP 60,712 48,184 Other liabilities 59,431 56,107 Total liabilities 6,405,312 6,223,884 Commitments and contingencies Equity: Stockholders' equity: Preferr

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View this 10-Q filing on SEC EDGAR