Fourth Quarter 2024 Earnings Call Presentation February 13th, 2025 Antero Resources (NYSE: AR)
Reduced Maintenance Capital Operating efficiencies and strong well performance resulted in CAPEX below guidance and production above guidance in 2024 AR D&C Capex AR Production (MM) (MMcfe/d) 909 3,392 3,421 3,350 675 620…
Drilling and Completion Efficiencies Total Days per Well (13,000 Lateral) Increased Completion Stages per Day Drilling Days Completion Stages Annual 13.9 12.2 12.4 per Day Record 10.7 9.9 8.0 2022 2023 2024 2022 2023 2024…
Strong C3+ NGL Differentials Anteros strong C3+ NGL premium to Mont Belvieu in 2024 driven by premium export differentials is expected to continue in 2025 AR Realized C3+ NGL Differentials to MB. AR C3+ NLG Marketing Volume (/Bbl)…
2025 Propane Inventories and Exports vs. 5-Year Average Storage Returns to 5-Year Average Propane Exports Trend Above 2024 MBbl/d US Propane Exports 120 US Propane Inventories 2,500 100 2,000 80 Million Barrels…
2025 Natural Gas Storage vs. the 5-Year Average The U.S. natural gas storage is below the 5-year average U.S. Natural Gas Storage (Bcf) 4,100 4,100 3,600 3,600 3,100 (111) 3,100 Below the 2,600 5-Year Avg. 2,600 5 Yr Max-Min…
Strong Winter Natural Gas Demand Natural gas demand from power burn has broken records every month this winter while ResComm demand in January 2025 was the highest on record U.S. Natural Gas Demand From Power Burn (Winter Months) (Bcf/d)…
TGP 500L Basis Performance TGP 500-L basis strip pricing has continued to show strength as the start-up of the Plaquemines LNG export facility has surpassed initial expectations TGP 500-L Differential to NYMEX Henry Hub (/MMBtu)…
Guidance 2025 Guidance Ranges Net Production (Bcfe/d) 3.35 3.45 Net Natural Gas Production (Bcf/d) 2.16 2.20 Net Liquids Production (Bbl/d) 198,000 208,000 Net Daily C3+ NGL Production (Bbl/d) 113,000 117,000 Net Daily Ethane…
Antero Resources Adjusted EBITDAX Reconciliation Three Months Ended Year Ended December 31, December 31, 2023 2024 2023 2024 Reconciliation of net income to Adjusted EBITDAX: Net income and comprehensive income attributable to…
Antero Resources Free Cash Flow Reconciliation Three Months Ended December 31, 2023 2024 Net cash provided by operating activities 312,175 278,002 Less: Net cash used in investing activities (226,630) (125,902) Less: Proceeds from…
Antero Resources Total Debt to Net Debt Reconciliation December 31, December 31, 2023 2024 Credit Facility 417,200 393,200 8.375% senior notes due 2026 96,870 96,870 7.625% senior notes due 2029 407,115 407,115 5.375% senior notes…
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