Antero Resources

Earlier this month Antero Resources, a large and growing driller in the Marcellus and Utica Shale, provided their second quarter financial and operations update. At the time, MDN observed they are getting close to a very exclusive milestone–the 1 billion cubic feet per day of natural gas production–or the “1 Bcf/d Club”. So far only Cabot Oil & Gas, Range Resources and EQT are in the club. Earlier this week Antero issued a guidance update declaring they will hit the 1 Bcf/d level in the second half of this year. Antero has revised UP their “guidance” by another 5%–saying they expect to be at 990 – 1,010 MMcfe/d for the entire year, and well beyond the 1 Bcf/d level (1,160 MMcfe/d) during the second half of the year. So, MDN officially says to Antero: Welcome to the club! Here’s Antero’s extensive guidance update issued Tuesday:
Read More “MDN Welcomes Antero Resources to the 1 Bcf/d Club”

Antero Resources continues to impress. The company has now amassed 493,000 acres of leases in the Marcellus/Utica, which includes access to the Devonian layer as well. As we told you a month ago, their drilling program is rapidly expanding (see Antero Resources: Marcellus/Utica Program Going Gangbusters). And as we told you barley three weeks ago, they had a tremendous second quarter (see Antero Resources 2Q14: Gas Production Doubles, NGLs Quadruple). Following on their 2Q14 update, MDN has located a copy of the Antero PowerPoint slide deck, recently updated and jam-packed with charts and maps and graphs. One very interesting statistic is Antero’s 3P (proved, probable and possible) drilling locations…
Read More “Antero Boasts 5K Potential Drilling Locations in Marcellus/Utica”

Antero Resources, one of the biggest drillers in the Marcellus/Utica, had a very impressive second quarter 2014. The company reported on Wednesday that 2Q14 production for natural gas and equivalents was up an impressive 94% over the same period last year–to 891 million cubic feet per day. Closing in on that elite 1 Bcf/d Club! Antero’s natural gas liquids production was 20,237 Bbl/d, an astonishing 387% increase over the same period last year. Antero now has deals to sell ethane to three different cracker plants–two in the northeast and one in Sweden (see today’s story on that)–as well as agreements to sell natural gas to Cheniere Energy’s Sabine Pass LNG export facility. It’s all Marcellus/Utica and all cylinders firing for Antero…
Read More “Antero Resources 2Q14: Gas Production Doubles, NGLs Quadruple”

Antero Resources released their first quarter 2014 update yesterday. Antero is a big and important driller in both the Marcellus and Utica Shale region–particularly in the wet gas areas of West Virginia and eastern Ohio. Antero reports daily gas equivalent (converting liquids to gas) production reached an average 786 million cubic feet equivalent per day (MMcfe/d) in the first quarter, up a healthy 105% from first quarter in 2013. They’re also producing more liquids than ever–16,332 barrrels per day, a 583% increase over 1Q13. On the down side, they report a net loss from operations of $95 million for 1Q14–mostly due to hedging in the financial markets. If you took away the hedging losses, net income would have been up $88 million, or 225% over 1Q13.

In the update below Antero talks about their recent lease acquisition of Piedmont Lake in Ohio’s Utica Shale, and about the recent announcement (from two days ago) that they have committed to another 200 million cubic feet per day of processing capacity at MarkWest’s Sherwood facility in Doddridge County, WV. Here’s the update…
Read More “Antero Resources 1Q14: Production Up 105%, Earnings Down $95M”