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Antero Resources Corp AR Stock Quote

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Antero Maintains Production Guidance and Raises Budget After Third-Quarter Results

Analyst Note

| Dave Meats, CFA |

Antero shares closed in positive territory in the first session following the firm's third-quarter results, despite a steep loss (7%) for natural gas prices. That implies a surprising level of investor enthusiasm for what we consider to be a fairly neutral release. We have lowered our fair value estimate to $28 per share from $31 after incorporating the impact of inflation on expected well costs from 2023; this was partially offset by an improved outlook for basis differentials due to the success of the firm's "LNG corridor" strategy.

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Company Profile AR

Business Description

Antero Resources, based in Denver, engages in the exploration for and production of natural gas and natural gas liquids in the United States and Canada. At the end of 2021, the company reported proven reserves of 17.7 trillion cubic feet of natural gas equivalent. Production averaged approximately 3,268 million cubic feet of equivalent a day in 2021 at a ratio of 31% liquids and 69% natural gas.

1615 Wynkoop Street
Denver, CO, 80202
T +1 303 357-7310
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 554

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