Antero Resources

Antero Resources Corporation
Public company
Traded as NYSE: AR
Russell 1000 Component
Industry Petroleum industry
Founded 2002 (2002)
Founder Paul M. Rady
Glen C. Warren, Jr.
Headquarters Denver, Colorado
Key people
 Paul M. Rady, Chairman & CEO
Glen C. Warren, Jr., President & CFO
Products Natural gas
Ethane
Natural gas liquids
Petroleum
Production output
 2.253 billion cubic feet of natural gas equivalent per day (2017)
Revenue Increase $3.655 billion (2017)
Increase $0.615 billion (2017)
Total assets Increase $15.261 billion (2017)
Total equity Increase $8.876 billion (2017)
Number of employees
 593 (2017)
Website www.anteroresources.com
Footnotes / references
[1]

Antero Resources Corporation is an exploration and production company organized in Delaware and headquartered in Denver, Colorado.

Current operations

The company's operations are entirely in the Appalachian Basin.[1] The company primarily extracts resources using hydraulic fracturing.

As of December 31, 2017, the company had 2,876 million barrels of oil equivalent (1.759×1010 GJ) of estimated proved reserves, of which 64% was natural gas, 22% was ethane, 13% was natural gas liquids, and 1% was petroleum. Of these reserves, 87% were in the Marcellus Shale and 13% were in the Utica Shale.[1]

In 2017, the company's production was 2.253 billion cubic feet of natural gas equivalent per day.[1]

History

The company was founded in 2002 by Paul M. Rady and Glen C. Warren, Jr. after they sold their previous venture, Pennaco Energy, to Marathon Oil.

Beginning in February 2003, Warburg Pincus invested over $1.5 billion into the company and at one time held a controlling stake.[2]

In 2005, the company sold its assets in the Barnett Shale to XTO Energy.[3]

In October 2013, the company became a public company via an initial public offering, raising $1.5 billion.[4]

In November 2014, the company spun off 30% of its midstream operations, Antero Midstream Partners LP, via an initial public offering.[5]

In September 2015, the company sold its integrated water business to its midstream affiliate for $1.05 billion.[6]

In August 2016, the company acquired assets in the Marcellus Shale from Statoil for $96 million.[7]

In January 2017, the company acquired assets in the Utica Shale from Rex Energy for $30 million.[8]

References

  1. 1 2 3 4 "Antero Resources Corporation 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Warburg Pincus Investments: Antero Resources". Warburg Pincus.
  3. ↑ "XTO ENERGY TO PURCHASE ANTERO RESOURCES". The New York Times. January 12, 2005.
  4. ↑ "Antero Resources Corporation Prices Upsized Initial Public Offering" (Press release). PR Newswire. October 9, 2013.
  5. ↑ "Antero IPO garners $1.1B". American City Business Journals. November 5, 2014.
  6. ↑ Miller, Ben (September 18, 2015). "Antero Resources selling water business for $1.05B". American City Business Journals.
  7. ↑ Gough, Paul J. (August 1, 2016). "Antero buys Marcellus Shale acreage for $96M". American City Business Journals.
  8. ↑ Gough, Paul J. (January 4, 2017). "Rex Energy sells Utica Shale assets in Ohio". American City Business Journals.
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