Increasing Volumes Since 2018 Wells in 2022 have produced some of Anteros highest volumes after 150 days, producing 10% more total volumes than the average 2020-2021 wells Average Well Cumulative Net Equivalent Production (Bcfe)…
Increasing Liquids Production Since 2018 Recent wells have been some of Anteros highest liquids producers after 150 days, producing 23% more liquids than the average 2020-2021 wells Average Well Cumulative Oil and C3+ Production…
Southwest Marcellus Peer Well Performance Comparison Antero cumulative equivalent production is 22% greater than the peer average Average Cumulative Equivalent Production Per Well Since 2020 (MMcfe/1,000) 700 Operator Well Count…
Organic Land Acquisition During the quarter, Antero was able to add 25 premium core locations at an average cost of less than 1 MM per location, which is a 50%+ discount to the average cost of peer acquisitions over the past year…
Peer-Leading Exposure To Premium Markets The dramatic improvement of basis differentials at premium indices accessible by ARs FT portfolio has driven the 0.15 increase in 2022 natural gas price realization guidance Antero Firm…
Historically High Power Burn Demand Despite high natural gas prices, natural gas demand from power burn is at all time highs, outpacing the 5 year average by over 4 Bcf/d in the past three months U.S. Natural Gas Demand From Power…
Propane Market Fundamentals Remain Bullish Propane inventories are 4% below the year ago level and 13% below the five year average, while propane exports continue to move higher as Chinas economy reopens U.S. Propane Inventories…
Strong and Sustainable Balance Sheet Balance Sheet AR Debt Term Structure (6/30/2022) (1) Enhancements 1,400 CALLED NO 1,200 2Q22 Debt Reductions: 585 MM NEAR-TERM Revolver - 317 MM SENIOR NOTES MATURITIES 1,000 2026s - 14 MM…
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: 5.26/MMBtu 10.0 THROUGH 2026, 80% OF WTI: 80.00/Bbl CURRENT MARKET VALUE (2) C3+…
5 Year Corporate Free Cash Flow Yield Since YE 2020, Antero has cut its debt in half while the market value increased by 592% During this time, Anteros Return of Capital Ratio or 5 Year Corporate Free Cash Flow Yield has increased by…
Peer Leading ESG Performance In the recent Rystad Energy ESG Report, Antero is ranked 1 for Environmental Performance Rystad Energy ESG Report Scorecard for North American Operators AR Peer 1 Peer 2 Peer 3 Peer 4 E-Score…
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 14
Appendix 15
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 0.30…
Antero Guidance and Long-Term Target Assumptions Long-term Outlook Assumptions 2022 2022-2026 NYMEX Henry Hub Natural Gas Price (/MMBtu) (1) 7.02 5.26 Natural Gas Realized Price Expected Premium to NYMEX (/Mcf) 0.30 to 0.40 0.20 to…
Antero Resources Adjusted EBITDAX Reconciliation Twelve Months Ended June 30, 2022 Reconciliation of net income to Adjusted EBITDAX: Net income and comprehensive income attributable to Antero Resources Corporation 960,783 Net…
Free Cash Flow Reconciliation Three Months Ended June 30, 2021 2022 Net cash provided by operating activities 308,541 922,712 Less: Net cash used in investing activities (179,903) (259,717) Less: Proceeds from sale of assets, net…
Total Debt to Net Debt Reconciliation December 31, June 30, 2021 2022 Credit Facility 70,800 5.000% senior notes due 2025 584,635 8.375% senior notes due 2026 325,000 311,767 7.625% senior notes due 2029 584,000 534,000 5.375%…
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