Antero 2Q – Production Up 5%, Added 26 Wells, but Lost $563M

Yesterday Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its second quarter 2023 update. The company reports net production averaged 3.4 billion cubic feet equivalent per day (Bcfe/d) during 2Q23, an increase of 5% year-over-year. Of that production, liquids (NGLs) averaged 192 thousand barrels per day (MBbl/d), an increase of 16% from the year-ago period. Natural gas production averaged 2.2 Bcf/d, the same as the year-ago period. The company lost $84 million in 2Q23 versus making a profit of $563 million in 2Q22--a swing of $647 million into the red.

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