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Antero Steps Up Proved Reserves by 73%
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Antero Resources has reported that proved reserves at December 31, 2012 were 4.9 Tcfe, a 73% increase compared to reserves at December 31, 2011, pro forma for the 2012 divestment of Antero's Arkoma Basin and Piceance Basin properties.
Proved, probable and possible reserves (3P) increased by 94% to 26.1 Tcfe. The 3P reserves were comprised of 21.2 Tcfe in the Marcellus Shale and 5.0 Tcfe in the Utica Shale. Including ethane and other natural gas liquids (NGLs), Antero's 3P liquids reserves increased by 170% to 1.6 billion barrels at December 31, 2012. Preliminary finding and development costs for proved reserve additions from all sources including drill bit, acquisitions, leasehold additions and all price and performance revisions averaged $0.68 per Mcfe in 2012. Antero's proved…
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