ANTERO: A PURE PLAY ON THE MARCELLUS / UTICA Marcellus is the largest gas field in the U.S. 20 Bcf/d projected by 2020 (1) Critical Mass In Two Antero has 28 Tcfe of 3P reserves in Marcellus and Utica Shales World Class Shale Plays…
PREMIER UNCONVENTIONAL RESOURCE PLATFORM TOTAL 6/30/13 RESERVES(1) Pure-Play Appalachian-Focused Shale Company Assumes Ethane Rejection A MARCELLUS SHALE Net Proved Reserves(1) 6.0 Tcfe 100% operated Net Proved Reserves(1) 6.3 Tcfe…
STRONG TRACK RECORD OF GROWTH AVERAGE NET DAILY PRODUCTION (MMcfe/d) APPALACHIAN PRODUCTION (MMcfe/d) Woodford Piceance Marcellus Utica Marcellus Utica 700 640 700 640 Sold Woodford and Piceance 600 85 600 85 500 458 500 458 383…
LOW DEVELOPMENT COST DRIVES BEST-IN-CLASS RECYCLE RATIOS 3-Year All-in Development Costs (/Mcfe) through 2012 /Mcfe 4.00 3.00 Antero Appalachia-Focused Peers 2.00 1.71 1.41 1.57 1.03 1.14 1.00 0.00 Source: Proved…
INTEGRATED MIDSTREAM INFRASTRUCTURE Infrastructure-Ready for Rapid, Large Scale Marcellus And Utica Development Programs Infrastructure and commitments in place to handle Leidy strong natural gas, NGL and oil production growth Basis…
LONG HAUL PIPELINE AND TRANSPORTATION NETWORK Antero has the most firm transportation capacity of any Appalachian operator and is well-positioned in the southern portion of the Marcellus and Utica Shale from a gas takeaway…
SIGNIFICANT LIQUIDITY AND LONG-TERM COMMODITY HEDGE POSITION Pro forma liquidity of 2.3 Bn LIQUIDITY POSITION MM 2,500 2,000 1,500 1,578 (960) 2,347 1,000 (32) 11 1,750 500 0 (2) Credit Facility (1) Bank Debt L/Cs…
ASSET OVERVIEW 10
PREMIER POSITION IN THE CORE OF THE MARCELLUS AND UTICA LIQUIDS-RICH FAIRWAYS ANTERO LIQUIDS-RICH UTICA SHALE Marcellus Utica Shale 102,000 Net Acres Shale Liquids-Rich 11 Horizontals Completed Southwestern Fairway 4 Rigs…
WORLD CLASS MARCELLUS SHALE DEVELOPMENT PROJECT Antero Has Delineated And De-Risked Its Large Scale Acreage Position 100% operated MHR WEESE UNIT DOTSON UNIT 329,000 net acres in 4-well average BLANCHE UNIT 1H: 22.7 MMcfe/d IP…
MARCELLUS SIMPLE STRUCTURE Several regional anticlines in core area Predictable layer cake geology No faults at Marcellus level Over 1.3 million feet (250 miles) drilled horizontally without crossing a fault 3-D seismic not…
ANTEROS MARCELLUS SHALE TYPE CURVE SUPPORT Antero has almost four years of production, and almost 200 operated horizontal wells, to support its 1.5 Bcf / 1,000 of lateral type curve DeGolyer & MacNaughton (D&M), Anteros third-party…
MARCELLUS SINGLE WELL ECONOMICS ASSUMES ETHANE REJECTION Assumptions Marcellus Well Economics and Locations(1) 6/30/2013 Strip Pricing & SEC Reserves 986 100% 1,000 1000 NYMEX WTI NGL(2) 777 80% 93% 800 Gross Locations…
ENHANCING MARCELLUS RECOVERIES SHORTER STAGE LENGTHS (SSL) Enhancing Recoveries Antero SSL Wells Since June 2013 Antero has implemented shorter stage lengths Anteros First 14 Unconstrained SSL Wells 24-hour Peak Rate (SSL) in the…
EXCITING CORE UTICA SHALE POSITION DELIVERS CONDENSATE AND NGLS Utica Shale Industry Activity and 24-Hour Peak Rates(1) 100% operated CHESAPEAKE 102,000 net acres in the core rich gas / 8 Wells Average 8.3 MMcfe/d condensate…
ANTERO HAS MOST OF THE TOP UTICA IPS Antero has 7 of the top 8 Utica 24-hour peak rates (IPs) Core announced to date UTICA IPs 2,000 to 9,000 Boe/d IPs Completed wells represent 10,000 some of the best 24-hour peak rates of any…
UTICA WELL RESULTS SUPPORT EUR REGIMES Anteros acreage position is blocked-up compared to other operators in the Utica core EUR regimes are well-supported by Antero and third-party results Production constrained until completion…
UTICA SINGLE WELL ECONOMICS ASSUMES ETHANE REJECTION Assumptions Utica Well Economics and Locations(1) 6/30/2013 Strip Pricing & SEC Reserves 250% 208 250 198 NYMEX WTI NGL(2) 200% 177 200 Gross Locations (/MMBtu) (/Bbl) (/Bbl)…
SIGNIFICANT MIDSTREAM INFRASTRUCTURE POSITION Antero estimated YE 2013 total capital investment in midstream 930 million Includes gathering lines, compressor stations and water handling Utica infrastructure Shale Proprietary…
PRO FORMA CAPITALIZATION Significant Liquidity to Fund Drilling Program SOURCES & USES CAPITALIZATION Sources ( in millions) ( in millions) 6/30/2013 6/30/2013 (Pro Forma) Cash 11 629 Primary IPO Proceeds 1,658 Credit Facility…
HEALTH, SAFETY, ENVIRONMENT & COMMUNITY Protection Of Our People And The Environment Is An Antero Core Value Strong West Virginia Presence Keys to Execution Over 75% of Antero Marcellus Closed loop mud system no mud pits employees and…
WHY INVEST IN ANTERO Over 400,000 Net Acres in the Core Marcellus and Utica Shales Triple Digit Historical Production and Reserve Growth Low Cost Leader / High Return Projects Significant Takeaway and Processing Capacity…
APPENDIX 25
CONSIDERABLE RESERVE BASE WITH ETHANE OPTIONALITY 26 year proved reserve life from current production annualized Reserve base provides significant exposure to liquids-rich projects 3P reserves of over 1.6 BBbl of NGLs and condensate…
MARCELLUS SHALE RICH GAS LIQUIDS AND PROCESSING UPGRADE Marcellus Shale rich gas and highly-rich gas acreage provides a significant advantage in well economics assuming 4.25/MMBtu NYMEX, 90.00/Bbl WTI and current spot NGL pricing…
2013 REALIZATIONS NATURAL GAS REALIZATIONS August 2013 YTD 2013 YTD Wet Gas BTU 2013 YTD % Sales Index Price Differential Enhancement Realized Price TCO 81% 3.73 (0.01) 0.38 4.09 Dominion South 14% 3.60 (0.06) 0.42 3.96 NYMEX(1)…
ANTERO FIRM TRANSPORTATION AND FIRM SALES Columbia Firm Sales 1 Firm Sales 2 Firm Sales 3 7/26/2009 9/30/2025 10/1/2011 10/31/2019 10/1/2011 5/31/2017 1/1/2013 5/31/2022 Momentum III EQT Chicago Direct 9/1/2012 12/31/2021 8/1/2012…
ANTERO EBITDAX RECONCILIATION EBITDAX Reconciliation ( in thousands) LTM Ended Antero Resources LLC 6/30/13 EBITDAX: Net income (loss) from continuing operations 54,154 Commodity derivative fair value (gains) losses (91,874) Net…
Loading...
