as of 07-27-2026 3:46pm EST
Antero Resources is an exploration and production firm whose operations represent a pure play in the Marcellus Shale, located in northern West Virginia. The company started in 2002 as an E&P focused on the Barnett Shale (Fort Worth, Texas). Antero redefined itself in Appalachia's Marcellus Shale in 2005. In 2012, shortly before Antero's 2013 IPO, Antero Midstream Partners was formed to handle the company's rapidly growing gas volumes. In 2026, the firm narrowed its focus further by selling its Ohio Utica assets and using the proceeds to acquire additional Marcellus acreage from HG Energy. Just over half of its production and earning power is tied to natural gas, with the remainder mostly NGLs, where it holds a leading position, and some crude oil.
| Founded: | 2002 | Country: | United States |
| Employees: | N/A | City: | DENVER |
| Market Cap: | 10.8B | IPO Year: | 2013 |
| Target Price: | $47.13 | AVG Volume (30 days): | 4.2M |
| Analyst Decision: | Buy | Number of Analysts: | 16 |
| Dividend Yield: | N/A | Dividend Payout Frequency: | N/A |
| EPS: | 1.72 | EPS Growth: | 1027.78 |
| 52 Week Low/High: | $29.10 - $45.75 | Next Earning Date: | 04-29-2026 |
| Revenue: | $5,275,823,000 | Revenue Growth: | 21.97% |
| Revenue Growth (this year): | 29.74% | Revenue Growth (next year): | 5.07% |
| P/E Ratio: | 20.51 | Index: | N/A |
| Free Cash Flow: | 687.0M | FCF Growth: | +175.82% |
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See Remarks
Avg Cost/Share
$39.46
Shares
185,826
Total Value
$7,309,345.86
Owned After
1,100,278
See Remarks
Avg Cost/Share
$39.51
Shares
39,490
Total Value
$1,550,651.90
Owned After
278,214
| Insider | Ticker | Relationship | Date | Transaction | Avg Cost | Shares | Total Value | Owned After | SEC Forms |
|---|---|---|---|---|---|---|---|---|---|
| Kennedy Michael N. | AR | See Remarks | May 4, 2026 | Sell | $39.46 | 185,826 | $7,309,345.86 | 1,100,278 | |
| Schultz Yvette K | AR | See Remarks | May 4, 2026 | Sell | $39.51 | 39,490 | $1,550,651.90 | 278,214 |
SEC 8-K filings with transcript text
Apr 29, 2026 · 100% conf.
1D
-1.08%
$38.59
Act: +0.64%
5D
-6.30%
$36.55
Act: -5.56%
20D
-0.24%
$38.92
Act: -8.20%
2 tm2612870d1_ex99-1.htm
Exhibit 99.1
Antero Resources Announces First Quarter 2026 Financial and Operating Results
Denver, Colorado, April 29, 2026—Antero Resources Corporation (NYSE: AR) (“Antero Resources,” “Antero,” or the “Company”) today announced its first quarter 2026 financial and operating results. The relevant consolidated financial statements are included in Antero Resources’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.
Highlights:
·Net production averaged a company record 3.9 Bcfe/d, an increase of 13% from the year ago period
oNatural gas production averaged 2.6 Bcf/d, an increase of 21% from the year ago period
oLiquids production averaged 206 MBbl/d, in line with the year ago period
·Realized a pre-hedge natural gas price of $5.57 per Mcf, a $0.53 per Mcf premium to NYMEX
·Realized a pre-hedge C3+ NGL price of $37.83 per barrel, a $0.94 per barrel premium to the benchmark
·Net income was $535 million and Adjusted Net Income was $357 million (Non-GAAP)
·Adjusted EBITDAX was $723 million (Non-GAAP) and net cash provided by operating activities was $859 million, increases of 32% and 88% compared to the prior year period, respectively
·Adjusted Free Cash Flow was $657 million (Non-GAAP)
·Closed HG acquisition in early February and completed the Ohio Utica Shale divestiture in late February
·Full HG quarter impact during the second quarter of 2026 is expected to result in 6% production growth and 15% lower cash costs per Mcfe from the first quarter of 2026
Michael Kennedy, CEO and President of Antero Resources commented, “During the first quarter we achieved record production, which was 13% above the year ago period. This production growth drove one of the highest quarterly EBITDAX and Free Cash Flow results in company history. These results reflect a tremendous performance from our operations team which navigated the harsh conditions of Winter Storm Fern without having to shut-in any volumes. This enabled Antero to deliver critical natural gas to the various regions that needed it most, a truly remarkable achievement by our people in the field.”
Mr. Kennedy continued, “Looking ahead, the recent geopolitical events have highlighted the advantages of Antero’s corporate strategy. We are the largest producer exporter of NGLs in the U.S., selling the majority of our NGL barrels into international markets. We expect recent global supply outages and disruptions to lead to increasing risk premiums for U.S. NGL barrels both in the near term and in the years ahead. At the same time, we have the highest LNG exposure among Appalachian producers, selling 2.3 Bcf/d of production to sales points along the LNG fairway. We are seeing growing interest from global NGL and LNG buyers that are looking to increase exposure to U.S. supply. This prioritization toward U.S. supply supports higher export utilization and more attractive price premiums at our sales points along the coasts. These attributes uniquely position us to benefit from today’s rising global demand for U.S. energy.”
Brendan Krueger, CFO of Antero Resources said, “During the first quarter we closed on the HG acquisition and began integration of the new asset. The impressive operational and financial achievements mentioned above led to realizations for natural gas, NGLs and ethane all coming in ahead of expectations during the quarter. This allowed us to reduce debt related to the HG acquisition ahead of our previously communicated targets. Importantly, as a result of the transactions, we expect our net production to increase by approximately 700 MMcfe/d on an annual basis. Additionally, the HG acquisition added 385,000 net acres and 400 drilling locations, while only increasing our Net Debt by $1.5 billion from the year-end 2025 level.”
For a discussion of the non-GAAP financial
measures including Adjusted Net Income, Adjusted EBITDAX, Adjusted Free Cash Flow and Net Debt please see “Non-GAAP Financial Measures.”
1
Cash Cost Reduction
Antero expects cash production expense for the remainder of 2026 to be $2.20 to $2.30 per Mcfe. This reduced range reflects a $0.25 per Mcfe, or 10% reduction from the full-year average in 2025 and a $0.39 per Mcfe, or 15% reduction from the first quarter of 2026. Inclusive of G&A and net marketing expense the total cost reduction is expected to be $0.30 per Mcfe. The production and development of the HG assets are expected to result in cash production expenses remaining in that range going forward, assuming current natural gas strip pricing.
Second Quarter and Full-Year 2026 Guidance
Update
Antero expects second quarter production to average 4.1 Bcfe/d, a 6% increase from the first quarter of 2026, driven by a full quarter of production from the HG acquisition. The second half of 2026 is expected to average approximately 4.2 Bcfe/d. This results in a full year average of approximately 4.1 Bcfe/d, unchanged from prior guidance. This annual guidance reflect
Feb 11, 2026 · 100% conf.
1D
-0.57%
$34.91
Act: -3.65%
5D
-7.52%
$32.47
Act: -0.23%
20D
-3.27%
$33.96
false 0001433270
0001433270
2026-02-11 2026-02-11
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 11, 2026
(Exact name of registrant as specified in its charter)
Delaware
001-36120
80-0162034
(State or Other Jurisdiction of
Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification Number)
1615 Wynkoop Street
Denver, Colorado 80202
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (303) 357-7310
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class on which registered Trading symbol(s) Name of each exchange
Common Stock, par value $0.01 Per Share AR New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition
On February 11, 2026, Antero Resources Corporation issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein, announcing its financial and operational results for the quarter and year ended December 31, 2025.
The information in this Current Report, including Exhibit 99.1, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act unless specifically identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Description
99.1
Antero Resources Corporation press release dated February 11, 2026.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Brendan E. Krueger
Brendan E. Krueger
Chief Financial Officer and Senior Vice President – Finance and Treasurer
Dated: February 11, 2026
3
Oct 29, 2025
false 0001433270
0001433270
2025-10-29 2025-10-29
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 29, 2025
(Exact name of registrant as specified in its charter)
Delaware
001-36120
80-0162034
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
1615 Wynkoop Street
Denver, Colorado 80202
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (303) 357-7310
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)
Name of each exchange on which
registered
Common Stock, par value $0.01 Per Share
AR
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition
On October 29, 2025, Antero Resources Corporation issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein, announcing its financial and operational results for the quarter ended September 30, 2025.
The information in this Current Report, including Exhibit 99.1, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act unless specifically identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Description
99.1
Antero Resources Corporation press release dated October 29, 2025.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Brendan E. Krueger
Brendan E. Krueger
Chief Financial Officer and Senior Vice President –Finance and
Treasurer
Dated: October 29, 2025
3
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