Strategic Announcements Closed Volumetric Production Payment (VPP) Transaction 220 MM VPP sale to an affiliate of J.P. Morgan Comprised of dry gas producing properties in West Virginia Effective date of July 1, 2020 with seven-year…
Pro Forma Liquidity and Use of VPP Proceeds With the announcement of the VPP sale and tender offers, Antero is addressing its November 2021 senior note maturity AR Pro Forma 6/30/20 Liquidity Relative to Remaining 2021 Bond Maturity…
Antero Asset Sale Program Timeline Antero has delivered 751 MM in asset sales to date Hedge Monetization (July 2020) Announced Asset Sale Program with AM share sale (December 2019) 29 MM monetization 100 MM AM share sale Completed…
Operational Momentum Lowered 2020 Capital Budget to 750 MM Revised D&C capital budget to 750 MM in 2020, a 35% decrease from initial 2020 guidance and a 41% decrease from 2019 spending 2020 production growth guidance of 8% while…
2H 2020 Free Cash Flow The improvement in commodity pricing and increase in production, combined with a significant reduction in capital is expected to result in 175 MM in Free Cash Flow for Antero in 2H 2020 2H 2020 Pricing &…
Addressing Debt Maturities Debt Maturity Summary: Assuming the repurchase of 1.4 B of senior notes including the pending 525 MM tender offer, ARs nearest term maturity will be 734 MM of senior notes due December 2022 Includes 898 MM…
Stronger Liquidity Outlook Affirmation of the bank borrowing base above 2.64 B in lender commitments plus the execution of 751 MM in asset sales has positioned AR to address upcoming bond maturities AR 2020 Liquidity Outlook Relative…
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