First Quarter 2017 Earnings Call Presentation May 9, 2017
Marcellus Completion Evolution Antero is continuing to increase proppant intensity in 2017 primarily utilizing 1,750 and 2,000 lb/ft completions in the Marcellus 3,000 5,000 1,500 lb/ft 2.0 Testing higher proppant loads in 2017…
Recent Marcellus Well Results Wellhead EURs from Anteros recent 1,750 pound per foot completions have continued to outperform legacy style completions and range from 2.0 to 2.4 Bcf/1,000 at the wellhead Recent 4-well pad with 2,500…
Improving Marcellus Returns Integrated platform yields attractive well economics and sustainable growth Highly-Rich Gas/Condensate (3/31/17 Pricing) (1) Highly-Rich Gas (3/31/17 Pricing) (1) Pre-Tax PV-10 Pre-Tax ROR Pre-Tax PV-10…
A Leading Consolidator in Appalachia Activity Acquisitions and Antero Footprint Antero has grown its acreage position by over 200,000 net acres since its IPO in October 2013 Since the beginning of 2016, Antero has acquired…
NGL Infrastructure Buildout in the Northeast Antero controls 43% of liquids rich Mariner West (50 Mbbl/d C2) locations in the Northeast and thus is a key driver behind the Northeast NGL infrastructure buildout 61,500 MBbl/d Mariner…
Largest Gas Hedge Position in U.S. E&P 2.1 billion mark-to-market unrealized gain based on 3/31/2017 prices with 3.4 Tcfe hedged through year-end 2022 at 3.63 per MMBtu Commodity Hedge Position Hedged Volume Average Index Hedge…
2017 Guidance and Long Term Outlook (Bcfe/d) Production Growth: 4.0 3.9 3.5 3.2 Net Daily Production 3.0 Guidance 2.7 Long-Term Targets 2.5 2.2 Hedged Volume (Bcfe) 2.0 1.8 3.70 3.47 Hedged Price (/Mcfe) 3.91 1.5 1.0…
Largest Core Drilling Inventory In Appalachia Large, repeatable core drilling inventory that averages 8,000 in lateral length and includes 43% of all liquids-rich undrilled locations in Appalachia Undrilled Core Marcellus and Utica…
Rapidly Growing NGL Production Antero is the largest NGL producer in the Northeast NGL Production Growth by Purity Product (Bbl/d) (Bbl/d) Ethane (C2) 160,000 C3+ Production Propane (C3) 140,000 Normal Butane (nC4) IsoButane…
Liquids Pricing Upgrade in the Marcellus Antero realizes a significant upgrade to assumed 2.75/MMBtu NYMEX gas price by producing liquids-rich gas and condensate Realized Price Per Mcf(1) +1.48 (/Mcf) +1.21 Upgrade +0.94 Upgrade…
APPENDIX 12
Mitigating Service Cost Exposure Antero has limited its exposure to service cost increases over the next few years through long-term agreements with drilling contractors and completion services Drilling Rigs (1) Contracted Rigs Rigs…
Antero Resources 2017 Guidance Key Operating & Financial Assumptions Updated Key Variable 2017 Guidance(1) Net Daily Production (MMcfe/d) 2,160 2,250 Net Residue Natural Gas Production (MMcf/d) 1,625 1,675 Net C3+ NGL Production…
Antero Resources EBITDAX Reconciliation EBITDAX Reconciliation ( in millions) Quarter Ended LTM Ended 03/31/2017 03/31/2017 EBITDAX: Net income including noncontrolling interest 305.6 (454.5) Commodity derivative fair value…
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