Structurally Higher Prices Ahead NYMEX Natural Gas Price and Gas Storage Surplus/Deficit vs. 5-year Avg. 1,000 Storage vs. Previous 5-Year Average Henry Hub Spot Price (/MMBtu) 8.00 800 Storage surplus Storage deficit 7.00 Gas…
Leading Commodity Price Exposure Antero did not add any hedges during the quarter and has the greatest exposure to rising commodity prices % Hedged 2Q22 4Q22 (1) % Hedged 2023 (1) % Total Production Hedged % Total Production Hedged…
Working Gas in Storage 2022 Working Gas in Storage Forecast (Bcf) Implied Average Production BEGINNING TODAY Remainder of 2022 Assumptions Required to Reach 3.5 Tcf Storage LNG Feedgas: 13.0 Bcf/d 4,250 97 Bcf/d (+3.5 Bcf/d from…
ARs Peer-Leading Exposure to LNG Fairways LNG Access & Exposure Firm Transport to LNG Fairway Antero Firm Transportation 2.5 2.3 Antero Total = 2.3 Bcf/d 2.0 1.5 1.0 1.0 0.9 1.0 0.5 0.0 0.0 AR EQT SWN RRC CNX 0.33 Bcf/d %…
2014 vs Now - Why This Cycle is Different for Antero Scale & Diversity Balance Sheet Average Liquids & Total Production Total Debt (MM) & Leverage (1) 200,000 Liquids Production (Bbl/d) Net Debt Leverage 160,000 1Q22 +215%…
Increased Free Cash Flow Profile Free Cash Flow (MM) (1) 12.0 5-Year Avg. Strip Through YE 2026 10.0 Bn 10.0 TARGETED FREE CASH FLOW NYMEX: 4.65/MMBtu 10.0 THROUGH 2026, 100% OF WTI: 80.50/Bbl CURRENT MARKET VALUE (2) C3+…
AR: Lowest Leverage, Highest Return - Major-Like Metrics Cash Return (1) vs. Leverage (2) 10% 1.1x Leverage / High Return 10% Cash Return 9% Peer 2 Cash Return as % of Market Cap 8% Average of Majors 7% Peer 4 Peer 3…
Antero Investment Highlights BALANCE SHEET STRENGTH AND FLEXIBILITY SCALE & DIVERSIFIED PRODUCT MIX DIRECT EXPOSURE TO RISING GLOBAL DEMAND SUSTAINABLE BUSINESS MODEL INDUSTRY-LEADING ESG METRICS 10
Appendix 11
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 to 0.15…
Antero Guidance and Long-Term Target Assumptions Long-term Outlook Assumptions 2022 2022-2026 NYMEX Henry Hub Natural Gas Price (/MMBtu) (1) 6.40 4.65 NYMEX WTI Oil Price (/Bbl) (1) 99.00 80.50 AR Weighted C3+ NGL Price (/Bbl) (1)…
Antero Resources Adjusted EBITDAX Reconciliation Twelve Months Ended Year ended Then December 31, Now March 31, 2014 2022 Reconciliation of net loss to Adjusted EBITDAX: Reconciliation of net loss to Adjusted EBITDAX: Net income…
Free Cash Flow Reconciliation Then Year Ended December 31, 2014 Net cash provided by operating activities 998,121 Less: Net cash used in investing activities (4,089,650) Free Cash Flow (3,091,529) Changes in Working Capital 17,805…
Total Debt to Net Debt Reconciliation Then Now December 31, March 31, 2014 2022 Credit Facility 1,730,000 387,700 7.250% senior notes due 2019 6.000% senior notes due 2020 525,000 5.375% senior notes due 2021 1,000,000 5.125%…
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