AR vs ELS Comparison

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.

Equity Lifestyle Properties is a residential REIT that focuses on owning manufactured housing, residential vehicle communities, and marinas. The company currently has a portfolio of 455 properties across the US with a higher concentration in the Sunbelt; 38% of the company's properties are in Florida, 12% in Arizona, and 8% in California. Equity Lifestyle targets owning properties in attractive retirement destinations. More than 70% of the company's properties are either age-restricted or have an average resident age over 55.