Antero 3Q Production Even, Profits Thru the Roof, Adding More Wells

Antero Resources is one of the largest drillers in the Marcellus/Utica (with major assets in West Virginia). The company is the fifth largest natgas producer in the country and the second largest LNG exporter. Antero provided its third quarter 2022 update yesterday. Like other major M-U drillers, Antero had a great quarter financially. Antero's 3Q22 net income was $560 million (adjusted net Income was $531 million), versus losing $549 million in 3Q21. Free cash flow was a whopping $797 million in 3Q. Antero produced an average of 3.2 billion cubic feet equivalent per day (Bcfe/d), including 171,000 barrels per day (Bbl/d) of liquids. That's down just a hair from 3.247 Bcfe/d produced in 3Q21.

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