Antero 2Q Update: Production Up, Costs Down, Record Well Drilled
Antero Resources issued its 2Q20 update yesterday. Even though the company averaged a sales price of $2.81/Mcf (thousand cubic feet) for natural gas it sold last quarter by using hedging (at a time when the price has been bumping around $1.70/Mcf), low gas prices clobbered the company. Antero saw a net loss of $463 million for the quarter. However, the company did set a new onshore drilling record for the longest well drilled in a 24-hour period--11,253 lateral feet drilled in 24 hours.
To view this content, log into your member account. (Not a member? Join Today!)