Antero Resources Files Q3 2024 10-Q

TL;DR

Antero Resources dropped its Q3 2024 10-Q. Check financials.

AI Summary

Antero Resources Corp. filed its 10-Q for the period ending September 30, 2024. The company, based in Denver, CO, operates in the crude petroleum and natural gas sector. Key financial details and operational updates for the third quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Antero Resources, crucial for understanding the company's trajectory in the energy market.

Risk Assessment

Risk Level: medium — The company operates in the volatile oil and gas industry, which is subject to significant price fluctuations and regulatory changes.

Key Numbers

• Q3 2024 — Quarterly Period (Reporting period for the 10-Q filing.)
• 1231 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• ANTERO RESOURCES Corp (company) — Filer
• 20240930 (date) — Period of Report
• 20241030 (date) — Filing Date
• DENVER (location) — Business Address City
• 80202 (postal_code) — Business Address Zip
• 303-357-7325 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• ar-20240930x10q.htm (10-Q) — 3948KB
• ar-20240930xex31d1.htm (EX-31.1) — 16KB
• ar-20240930xex31d2.htm (EX-31.2) — 17KB
• ar-20240930xex32d1.htm (EX-32.1) — 7KB
• ar-20240930xex32d2.htm (EX-32.2) — 7KB
• ar-20240930xex95d1.htm (EX-95.1) — 3KB
• ar-20240930x10q001.jpg (GRAPHIC) — 8KB
• 0001558370-24-013956.txt ( ) — 15717KB
• ar-20240930.xsd (EX-101.SCH) — 81KB
• ar-20240930_cal.xml (EX-101.CAL) — 95KB
• ar-20240930_def.xml (EX-101.DEF) — 345KB
• ar-20240930_lab.xml (EX-101.LAB) — 735KB
• ar-20240930_pre.xml (EX-101.PRE) — 512KB
• ar-20240930x10q_htm.xml (XML) — 3706KB

—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 33 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 51

—OTHER INFORMATION

PART II—OTHER INFORMATION 51 Item 1.

Legal Proceedings

Legal Proceedings 51 Item 1A.

Risk Factors

Risk Factors 51 Item 2. Unregistered Sales of Equity Securities 52 Item 4. Mine Safety Disclosures 52 Item 5 Other Information 52 Item 6. Exhibits 53

SIGNATURES

SIGNATURES 54 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, September 30, 2023 2024 Assets Current assets: Accounts receivable $ 42,619 26,156 Accrued revenue 400,805 319,177 Derivative instruments 5,175 4,706 Prepaid expenses 12,901 7,042 Other current assets 14,192 11,565 Total current assets 475,692 368,646 Property and equipment: Oil and gas properties, at cost (successful efforts method): Unproved properties 974,642 960,116 Proved properties 13,908,804 14,309,543 Gathering systems and facilities 5,802 5,802 Other property and equipment 98,668 105,317 14,987,916 15,380,778 Less accumulated depletion, depreciation and amortization ( 5,063,274 ) ( 5,447,104 ) Property and equipment, net 9,924,642 9,933,674 Operating leases right-of-use assets 2,965,880 2,658,288 Derivative instruments 5,570 2,507 Investment in unconsolidated affiliate 222,255 226,860 Other assets 25,375 33,643 Total assets $ 13,619,414 13,223,618 Liabilities and Equity Current liabilities: Accounts payable $ 38,993 37,096 Accounts payable, related parties 86,284 92,720 Accrued liabilities 381,340 316,059 Revenue distributions payable 361,782 328,353 Derivative instruments 15,236 15,989 Short-term lease liabilities 540,060 505,652 Deferred revenue, VPP 27,101 25,709 Other current liabilities 1,295 2,377 Total current liabilities 1,452,091 1,323,955 Long-term liabilities: Long-term debt 1,537,596 1,622,316 Deferred income tax liability, net 834,268 831,972 Derivative instruments 32,764 17,780 Long-term lease liabilities 2,428,450 2,148,608 Deferred revenue, VPP 60,712 41,816 Other liabilities 59,431 55,839 Total liabilities 6,405,312 6,042,286 Commitments and contingencies Equity: Stockholders' equity: Pr

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View this 10-Q filing on SEC EDGAR