2022 Activity Summary Well Completions 65% of well 60-65 Net Wells Completed 50 completions in 2H 2022 45 40 35 13,800 Average Lateral 30 25 20 15 1255 Average BTU 10 5 0 1H 2022 2H 2022 Production (Bcfe/d) 3.5 3.2 3.3…
2021 Capital vs. 2022 Capital Budget Anteros 2022 capital budget is in line with 2021 capital, adjusted for inflation, local sand savings and higher Antero working interest in its Drilling Partnership 2021 Capital to 2022 Capital…
Peer Leading Premium Core Drilling Inventory Anteros technical and management teams have performed an extensive update on acreage positions, undrilled locations, well performance and EURs across the basin Led to division of the SW…
NGL Price Strength NGL prices remain elevated on an absolute basis and relative to WTI due to sufficient export capacity and resilient global demand AR Monthly Realized C3+ NGL Price /Bbl AR C3+ Realized Price (/Bbl) WTI Price % of…
Propane Market Fundamentals Weekly withdrawals continue to be strong, resulting with the U.S. ending withdrawal season below the minimum levels over the last five years U.S. Propane Inventories (MMBbls) 120 100 80 Million…
Significant Improvement in AR Financial Strength ARs total debt decreased by nearly 876 MM in 2021, resulting in leverage declining to 1.3x Total Debt (MM) LTM EBITDAX (MM) 3,002 3,000 2,000 1,617 2,500 2,125 Target: 1,500…
Strong and Sustainable Balance Sheet AR has no near-term senior note maturities and has reset debt levels to protect against a downside commodity price scenario Antero Resources Debt Term Structure (Pro Forma 12/31/2021) (1) AR…
Strongest Balance Sheet in Appalachia Supports Shareholder Returns Appalachian Peer Net Debt (1) 6.0 5.4 5.6 5.0 4.0 3.0 2.7 2.1 2.2 2.0 1.0 0.0 AR Peer 1 Peer 2 Peer 4 Peer 3 Net Debt to LTM Adjusted EBITDAX (1) 4.0x…
ESG Momentum Continues Anteros peer-leading ESG ranking reflects the internal efforts to prioritize ESG performance and disclosures 2025 Goals Progress Project Canary (February 2022): 2020 ESG Report RECEIVED RESPONSIBLY SOURCED…
Key Investment Highlights Antero is well positioned for both the commodity price outlook and energy transition as a large scale, low cost natural gas and NGL producer with strong ESG metrics Scale / 5th Largest natural gas producer…
Appendix 14
2022 Capital Plan and Guidance 2022 Guidance Ranges Net Production (Bcfe/d) 3.2 3.3 Net Natural Gas Production (Bcf/d) 2.2 2.25 Net Liquids Production (Bbl/d) 175,000 185,000 Natural Gas Realized Price Expected Premium 0.15 to…
Antero Guidance and Long-Term Target Assumptions Long-term Outlook Assumptions 2022 2022-2026 NYMEX Henry Hub Natural Gas Price (/MMBtu) (1) 4.50 3.60 NYMEX WTI Oil Price (/Bbl) (1) 85.00 70.00 AR Weighted C3+ NGL Price (/Bbl) (1)…
Antero Resources Adjusted EBITDAX Reconciliation LTM Adjusted EBITDAX Reconciliation Year Ended December 31, 2021 Reconciliation of net loss to Adjusted EBITDAX: Net loss and comprehensive loss attributable to Antero Resources…
Antero Resources Adjusted EBITDAX Reconciliation Three Months Ended Year Ended December 31, December 31, 2020 2021 2020 2021 Reconciliation of net income (loss) to Adjusted EBITDAX: Net income (loss) and comprehensive income…
Antero Resources Pre-Hedge Adjusted EBITDAX Per Mcfe Unhedged Adjusted EBITDAX per Mcfe Reconciliation Q4 2021 (/Mcfe) Natural gas, oil, ethane and NGL sales 6.48 Distributions from Antero Midstream 0.11 All-In Revenue (Pre-Hedge)…
Free Cash Flow Reconciliation Working capital adjustments in 2021 include 60.5 million in changes in current assets and liabilities and 35.9 million in accounts payable and accrued liabilities for additions to property and…
Total Debt to Net Debt Reconciliation December 31, 2020 2021 Credit Facility 1,017,000 5.125% senior notes due 2022 660,516 5.625% senior notes due 2023 574,182 5.000% senior notes due 2025 590,000 584,635 8.375% senior notes…
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