Antero Resources Corp Stock Price, News & Analysis

Antero Resources Corporation (NYSE: AR) and Antero Midstream Corporation (NYSE: AM) announced the retirement of Glen Warren as President and CFO of Antero Resources and President of Antero Midstream, effective April 30, 2021. Warren leaves behind a legacy of significant contributions, having helped grow Antero into a major player in the energy sector. Under his leadership, the companies achieved financial stability, with Antero Resources targeting leverage below 2.0x in 2021. His departure marks a pivotal change, but both companies are positioned for future success.

Antero Resources Corporation (NYSE: AR) announced its fourth quarter and full year 2020 results, revealing a net income of $70 million and adjusted EBITDAX of $299 million. The company achieved an average net production of 3,650 MMcfe/d, with a realized natural gas equivalent price of $3.12 per Mcfe, exceeding NYMEX prices. Antero plans a 2021 capital budget of $590 million, down 21% from 2020, alongside a new $500-$550 million drilling partnership to enhance production and free cash flow. The company is targeting over $500 million in free cash flow in 2021, reducing leverage to below 2 times debt/EBITDA.

Antero Resources (NYSE: AR) will release its fourth quarter 2020 earnings on February 17, 2021, post-market. A conference call to discuss the results is scheduled for February 18, 2021, at 9:00 am MT. Participants can join by calling 877-407-9079 (U.S.) or 201-493-6746 (International). The earnings call will be followed by a Q&A session. The call will be accessible via webcast, which will be archived until February 25, 2021.

Antero Resources Corporation (NYSE: AR) has priced a private placement of $700 million in 7.625% senior unsecured notes due 2029, set to close on January 26, 2021. The company anticipates net proceeds of approximately $692 million after deducting discounts and expenses. The funds will primarily be used to redeem $311 million of its 5.125% senior notes due 2022 and to reduce borrowings under its credit facility. The offering is not contingent upon the redemption of the 2022 Notes, and the Notes will not be registered under the Securities Act.

Antero Resources Corporation (NYSE: AR) announced plans to offer $500 million in senior unsecured notes due 2029, subject to market conditions. The proceeds will fund the redemption of $310.5 million of 5.125% senior notes due 2022 and to repay credit facility borrowings. The offering is not contingent on the completion of the redemption. The notes will be offered to qualified institutional buyers and have not been registered under the Securities Act. Antero Resources is engaged in the production of natural gas and liquids in the Appalachian Basin.

Antero Resources Corporation (NYSE: AR) announced a direct offering of 31.4 million shares at $6.35 each, aimed at holders of its 4.25% Convertible Senior Notes due 2026. The company intends to utilize the proceeds along with $63 million from its credit facility to repurchase $150 million of its Convertible Notes. Following this transaction, $137.5 million of the Convertible Notes will remain outstanding. The offering is set to close on January 12, 2021, subject to standard conditions. The company's shares were offered under an effective SEC registration.

Antero Resources Corporation (NYSE: AR) announced the pricing of a private placement of $500 million in 8.375% senior unsecured notes due 2026. The offering is expected to close on January 4, 2021. Antero anticipates receiving net proceeds of approximately $494 million, which will partly fund the redemption of $350 million of its 5.125% senior notes due 2022 and repay borrowings under its credit facility. The notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers.

Antero Resources Corporation (NYSE: AR) plans to offer $500 million in senior unsecured notes due 2026, subject to market conditions. A portion of the proceeds will fund the redemption of $350 million of its 5.125% senior notes due 2022, with the remainder directed to repay borrowings under its credit facility. The offering is aimed exclusively at qualified institutional buyers and is not contingent on redeeming the 2022 notes. The company emphasizes potential risks related to market conditions, commodity price volatility, and operational uncertainties.

On October 29, 2020, Antero Resources Corporation (NYSE: AR) announced plans to redeem all outstanding 5.375% senior notes due 2021 on November 30, 2020. The redemption will include the principal amount plus accrued interest. Funding for this redemption will come from a combination of asset sales, operational cash flow, and available credit. This strategic move underscores the company's efforts to manage its debt effectively while enhancing its financial position in the natural gas sector.