Antero Resources — Oct 30, 2024 release

  Third Quarter 2024 Highlights:   · Net production averaged 3.4 Bcfe/d, a 2% decrease from the year ago period   o Natural gas production averaged 2.2 Bcf/d, a 4% decrease from the year ago period   o Liquids production averaged 206 MBbl/d, a 2% increase from the year ago period and represents 36% of total production   · Realized a pre-hedge natural gas equivalent price of $3.14 per Mcfe, a $0.98 per Mcfe premium to NYMEX   · Realized the highest C3+ NGL price premium to Mont Belvieu in company history at a $2.29 per barrel premium   · Net loss was $20 million and Adjusted Net Loss was $37 million (Non-GAAP)   · Adjusted EBITDAX was $187 million (Non-GAAP); net cash provided by operating activities was $166 million   · Averaged a quarterly record 12.1 completion stages per day, including a monthly record of 13.3 stages per day during the month of August   · Achieved a record for the most footage drilled per rig in a month during September, a 17% increase compared to the 2023 average   · Announced the addition of Jeffrey Muñoz to the Board of Directors   2024 Full-Year Guidance Updates:   · Decreased drilling and completion capital budget for 2024 to a range of $640 to $660 million driven by capital efficiency gains and the deferral of the completion of one pad   Paul Rady, Chairman, CEO and President of Antero Resources commented, “During the third quarter we continued to improve our capital efficiency. Over the last two years, we have reduced the average number of days to drill a well by 20% to just 11 days versus 14 days previously. These meaningful gains result in an efficient maintenance production program that requires just two rigs to maintain 3.3 to 3.4 Bcfe/d of production going forward. We continue to defer the turn-in-line date of one drilled but uncompleted pad that was scheduled for 2024. Looking ahead to 2025, we are now also deferring a second drilled but uncompleted pad scheduled for completion in early 2025 to later in that year due to low natural gas prices. These efficiency gains combined with the activity deferral, allow us to reduce our capital expenditure budget, while maintaining our 2024 production guidance.”   Mr. Rady further added, “We are also pleased to announce the appointment of Jeffrey Muñoz to the Board of Directors. Mr. Muñoz brings an extensive background with over 30 years in the energy industry