Antero 2018: $1.45 Billion to Drill 125 Marcellus & 25 Utica Wells

Yesterday Antero Resources, one of the biggest and best drillers in the Marcellus/Utica (concentrating on just those two plays), released highlights of their 2017 performance and "guidance" for 2018--their plan for what they will do in 2018. In 2017 the company reports average net daily gas equivalent production was 2.3 billion cubic feet per day, an 18% increase over the same quarter in 2016. In 2018, Antero plans to spend $1.45 billion. What will that buy them? In the PA and WV Marcellus, Antero will run five rigs and drill 120-125 wells, with an average lateral length of 9,300 feet. The company says they will average 9 wells per well pad this year. In the Ohio Utica, Antero will operate one rig and drill 20-25 wells with an average lateral of 11,600 feet. In both the Marcellus and Utica, Antero says the cost to drill those wells will go down another 9% this year over what it cost them last year. Antero continues to be one of (if not THE) best "hedgers" in the business--realizing more money for their gas and NGLs than any other driller in the region...

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