Antero Resources 3Q – Production Record High, Spending Record Low

Antero Resources, one of the biggest and best "pure play" drillers focused on the Marcellus/Utica (with major operations in West Virginia), released their third quarter update yesterday. The company reports producing an amazing 3.37 billion cubic feet equivalent per day (Bcfe/d) of natural gas production (32% liquids), while spending just $290 million to do it--the lowest quarterly spend since the company went public in 2013. On the down side, the company reported a $150 million net loss, but that's mainly because of a one-time "impairment charge," meaning it was a paper loss, not a cash out-of-pocket loss.

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