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4Q 2018 Earnings Call Presentation – Antero Resources

Antero Resources · Feb 14, 2019 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 1
    FourthQuarter2018 EarningsCallPresentation FEBRUARY 14, 2019
  2. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 2
    Drilling and Completion Efficiencies Drilling Days Completion Stages per Day 35 10.0 10.0 9.0 30 9.0 8.0 25 Drilling Days Stages per Day 7.0 20 18 5.7 6.0 4.6 4.9 15 5.0 12 3.6 10 4.0 10 8 3.0 5 2.0 1.0 0 2014…
  3. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 3
    Anteros Balanced Position on the Commodity Spectrum Dry Gas Rich Gas NGLs Crude Oil Multiple Ways to Win Gas Bull Gas Bear 5 Natural Gas 1 NGL Producer in Producer in the U.S. the U.S Abundant Lower than associated gas…
  4. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 4
    Disciplined Long-Term Development Plan Dependingonthecommoditypriceenvironment,Anteroispoisedtoprudentlygrowproductionto maximizefreecashflow,ultimatelyresultinginanappropriatemixofreturnof capitaltoshareholdersandfurtherdeleveraging…
  5. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 5
    Path to 2019 Well Cost Efficiencies Throughnegotiatingcontractsandselfsourcingsand,Anteromitigatedamajorityof inflationarypressuresonD&Ccapitalfor2019 Wellcostsincludeall pad,facilityandflowbackwatercosts,whichmanypeersexclude Antero…
  6. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 6
    Mariner East 2 Uplift Mariner East 2 allows AR to access 50,000 Bbl/d Mariner East 2 export capability international LPG markets and realize a 2 to equates to 50 to 60 MM of 4/Bbl uplift on its exported barrels incremental annual cash…
  7. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 7
    Hedge Position Realized357MMinproceedsfromhedgerestructuringwhileremaining100% hedgedongasin2019and55%60%hedgedin2020at3.00/MMBtu Antero Hedge Profile (MMcf/d) (/MMBtu) 2,500 2,330 NYMEX Collar Volume NYMEX Swap Volume 4.00 NYMEX…
  8. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 8
    Attractive Firm Transportation Portfolio AllofAnteroResourcescontractedfirmcapacityisnowinservice,providing visibleproductiongrowthandsalestodiversifiedmarkets Antero Resources Firm Transportation Portfolio vs. Gross Gas Production…
  9. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 9
    Consistent Reserve Growth and Attractive Recycle Ratio Net Proved Reserves (Tcfe)(1) (Tcfe) Marcellus Utica 20 18.0 17.3 15 12.7 13.2 15.4 12.6B Proved PV-10 (1) 12/31/18 proved PV-10 at SEC pricing 10 7.6 5 4.3 2.8 0.7…
  10. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 10
    Natural Gas Fundamentals Strongdemandfundamentalscombinedwiththesheermagnitudeofthebase supplydeclineareunderappreciatedbythemarket 1 U.S.NaturalGasDemandtoRemainStrongin2019+,LedbyExports…
  11. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 11
    Appendix
  12. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 12
    Antero Capitalization Pro forma as of 12/31/18 Antero Midstream Antero Resources Antero Resources As of December 31, 2018 (MM) (Stand-alone) (Consolidated) Cash 0 0 0 Debt Revolving Credit Facility 990 405 1,395 5.375% Senior…
  13. 4Q 2018 Earnings Call Presentation – Antero Resources – slide 13
    4Q 2018 Segment EBITDAX and Capital Expenditures 1 GatheringandcompressionfeespaidtoAnteroMidstreamareincludedinGathering,Processing& Transportationexpenseonstandalonebasis(eliminatedonconsolidatedbasis);Gatheringand…

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