Major Marcellus Shale driller Antero Resources announced yesterday that their “proved reserves” are up a healthy 47% from the end of last year–to 6.3 trillion cubic feet equivalent. If you look at their 3P reserves–proved, probably and possible–the number is 27.7 trillion cubic feet. Keeping an eye on a company’s reserves is important to know how much gas they will likely produce. It’s a measure often used by stock analysts and investors, but it’s a metric worth minding for landowners too. The numbers indicate what Antero says is in the ground, how much of it is there, and how healthy the company’s balance sheet is likely to look in the coming next few years.
Antero’s announcement from yesterday, with details about what makes up the reserve number (methane, ethane, etc.):