Quarterly / Earnings Reports | First Quarter (1Q) Update | Hedging | Capital Markets | Impairment | Capex Decrease | Drilling Program-Rig Count | Capital Expenditure - 2020
Antero Q1: Cuts Frac Crews by 67%, Capex Lowered for 2020; Maintenance Capital in 2021
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Antero Resources Corp. reported its Q1 2020 results.
Q1 Key Financial Developments & Production Free Cash Flow of -$106MM in Q1: Antero reported a negative free cash flow of -$106 million in Q1 - this is a 36% improvement from 4Q19 which saw negative free cash flow of -$167 million Impairment Charge: Reported an impairment charge of $89 million from both upstream and midstream assets Borrowing Base: $2.85 billion borrowing base approved under the credit facility, $210 million above the $2.64 billion of lender commitments Q1 Production Declines 2% from Prior Quarter: Net production averaged 3,366 MMcfe/d (68% natural gas by volume) during the first quarter, a 9% increase over the prior year period Added Hedges: Added 688 BBtu/d of natural gas hedges to calendar 2022 at an average…- ✓ Full news archive — U.S., Canada & international coverage
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