Antero 3Q – Production Up, Profits Way Up, No Mergers

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 third quarter 2023 update last week. The company reports net production averaged 3.5 billion cubic feet equivalent per day (Bcfe/d) during 3Q23, an increase of 9% year-over-year. Of that production, liquids (NGLs) averaged 202 thousand barrels per day (MBbl/d), an increase of 18% from the year-ago period. Natural gas production averaged 2.3 Bcf/d, up 4% from the same period last year. The company made $560 million in 3Q23 versus a profit of $18 million in 3Q22 --- a huge lift from last year.

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