Antero Resources Corporation reports developments centered on its natural gas and natural gas liquids business in the Appalachian Basin, including production from unconventional properties in West Virginia and portfolio activity in the Marcellus Shale. Company updates commonly address quarterly operating and financial results, natural gas, NGL and ethane realizations, drilling inventory, acreage additions, debt reduction and other capital-structure matters.
Antero's releases also cover earnings-call timing, guidance, and operational coordination with affiliate Antero Midstream, which supports gathering and related infrastructure for Antero's production volumes.
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 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.
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 the retirement of Glen Warren as President and CFO of Antero Resources and President of Antero Midstream, effective April 30, 2021. Mr. Warren will also step down from the boards of both companies. He has played a pivotal role in the growth of Antero Resources into a major player in the U.S. natural gas industry. Under his leadership, the company achieved significant free cash flow and aims to reduce leverage below 2.0x in 2021. Antero Midstream boasts a strong balance sheet in the industry.
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.