Antero 2Q: $523M Loss on Derivatives; Longest Marcellus Lateral

Antero Resources, which drills almost exclusively in the West Virginia Marcellus/Utica, issued its second quarter 2021 update yesterday. Antero is the third-largest natural gas producer in the U.S. and the second-largest NGL producer. Big company. Important company. Antero is one of the best hedgers (preselling production at a set price) in the business. However, like EQT (see today's lead story), Antero fumbled with a derivatives bet in 2Q and ended up posting a $523 million loss for 2Q21, versus losing $463 million in 2Q20. On the positive side, Antero generated $105 million in free cash flow during 2Q21.

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