Antero Resources 1Q16: Production Up, Gets $4.54/Mcf for Gas!

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antero resourcesAntero Resources, one of the largest drillers in the Marcellus/Utica, continues to impress. Yesterday the company released its first quarter 2016 update and for all intents and purposes they broke even (financially) during 1Q16--they lost $5 million. Granted, they made $394 million in 1Q15, so that's quite a swing the other way. But in a day when most drillers are racking up near billion dollar losses, Antero is a star performer. The company tweaked expected production for this year--up another 2% over their previous "guidance". Where Antero really shines is with their hedging--a financial technique that allows them to lock in prices for natural gas they sell that are much higher than their competitors. With hedging, Antero got an average of $4.54 per Mcf in 1Q16, which is $2.45/Mcf above Nymex futures price. Crikey! Here's the update from one of the Marcellus/Utica's star performers...

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