Antero Resources Corp Stock Price, News & Analysis

Antero Resources Corporation (NYSE: AR) reported its Q2 2021 results with a net loss of $523 million, influenced by a $757 million unrealized hedging loss. However, the adjusted net income stood at $42 million, showcasing a 71% increase in adjusted EBITDAX to $319 million. Free cash flow for the quarter was $105 million, contributing to a net debt reduction to $2.4 billion. The company raised its full-year natural gas realization guidance and reduced net marketing expenses by 22%. Despite production outages impacting volumes, Antero aims for over $750 million in free cash flow for 2021.

Antero Resources (NYSE: AR) has announced that it will release its second quarter 2021 earnings on July 28, 2021, after the market closes. A conference call to discuss the financial results is scheduled for July 29, 2021, at 9:00 am MT. Participants can join by calling 877-407-9079 in the U.S. or 201-493-6746 internationally. The call will include a Q&A session for analysts and will be available for replay until August 5, 2021. Antero is an independent natural gas and liquids company operating in the Appalachian Basin.

Antero Resources Corporation (NYSE: AR) has priced a private placement of $600 million in 5.375% senior unsecured notes due 2030, set to close on June 1, 2021. The company anticipates net proceeds of approximately $593 million, which will be utilized for the redemption of its existing 2023 senior notes and to repay borrowings under its credit facility. The notes will only be offered to qualified institutional buyers, as they are not registered under the Securities Act. This offering aims to manage debt effectively amidst market uncertainties.

Antero Resources Corporation (NYSE: AR) announced its intention to offer $500 million in senior unsecured notes due 2030, subject to market conditions. The proceeds will fund the redemption of its 5.625% senior notes due 2023 on June 1, 2021. The offering is not contingent on this redemption and is restricted to qualified institutional buyers under Rule 144A. The notes will not be registered under the Securities Act, limiting their sale in the U.S. This offering aims to streamline the company’s debt structure in the competitive natural gas sector.

Antero Resources Corporation (NYSE: AR) announced the appointment of Brenda R. Schroer to its Board of Directors, effective April 30, 2021. With this addition, the Board now consists of eight directors, seven of whom are independent. Schroer's background includes significant roles in the oil and gas industry, notably as CFO at Concho Resources, and she currently serves as Interim CFO for Solaris Midstream Holdings. Her experience in finance and ESG reporting is expected to enhance Antero's governance.

Antero Resources reported strong first quarter results for 2021, highlighting a net production of 3,322 MMcfe/d and a realized natural gas equivalent price of $4.03 per Mcfe, exceeding NYMEX pricing by $1.34. Despite a net loss of $15 million, the company's adjusted net income hit $183 million, with free cash flow reaching $416 million. Antero successfully reduced net debt by $433 million, lowering the debt-to-EBITDAX ratio to 2.0x. The firm transportation portfolio and increased C3+ NGL prices, which rose 91% year-over-year, contributed significantly to the results, with forecasts predicting over $600 million in free cash flow for 2021.

Antero Resources (NYSE: AR) has announced plans to release its first quarter 2021 earnings on April 28, 2021, after the market closes. A conference call to discuss the results is scheduled for April 29, 2021, at 9:00 am MT. Investors can participate by dialing 877-407-9079 (U.S.) or 201-493-6746 (International). The call will include a Q&A session for analysts and will be available for replay until May 6, 2021. Antero Resources operates in the Appalachian Basin, focusing on natural gas and liquids.

Antero Resources (NYSE: AR) and Antero Midstream (NYSE: AM) announced leadership changes as Glen C. Warren, Jr. retires on April 30, 2021. Paul M. Rady, currently Chairman and CEO, will also assume the role of President for both companies. Michael N. Kennedy, existing Senior VP of Finance, will become CFO of Antero Resources and join the Antero Midstream Board of Directors. Brendan E. Krueger, VP of Finance, will serve as CFO of Antero Midstream while maintaining his other roles. Management emphasized their commitment to cost reduction, debt management, and shareholder returns.

Antero Resources Corporation (NYSE: AR) and Antero Midstream Corporation (NYSE: AM) announced new management roles following the retirement of Glen C. Warren, Jr. as President and CFO. Paul M. Rady will assume the role of President for both companies. Michael N. Kennedy, previously SVP of Finance, will become CFO of Antero Resources and join the Antero Midstream Board. Brendan E. Krueger will serve as CFO of Antero Midstream while maintaining his role as Treasurer. These appointments aim to enhance strategic direction and corporate performance in the Appalachian Basin.