Antero Resources

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Antero Resources Corporation
TypePublic company
NYSE: AR
Russell 1000 Index component
IndustryPetroleum industry
Founded2002; 20 years ago (2002)
FounderPaul M. Rady
Glen C. Warren, Jr.
HeadquartersDenver, Colorado
Key people
 Paul M. Rady, Chairman & CEO
Glen C. Warren, Jr., President
Michael N. Kennedy CFO
ProductsNatural gas
Ethane
Natural gas liquids
Petroleum
Production output
3.578 billion cubic feet of natural gas equivalent per day (2020)
RevenueDecrease $3.491 billion (2020)
Decrease -$1.267 billion (2020)
Total assetsDecrease $13.150 billion (2020)
Total equityDecrease $6.090 billion (2020)
Number of employees
522 (2020)
Websitewww.anteroresources.com
Footnotes / references
[1]
Antero Resources Headquarters in Denver

Antero Resources Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado. The company's reserves are entirely in the Appalachian Basin (92% were in the Marcellus Shale and 8% were in the Utica Shale) and are extracted using hydraulic fracturing.[1]

As of December 31, 2020, the company had 17,635 billion cubic feet (499 billion cubic meters) of estimated proved reserves, of which 61% was natural gas, 21% was ethane, 17% was natural gas liquids, and 1% was petroleum.[1]

The company is ranked 608th on the Fortune 500.[2]

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.[3]

In 2005, the company sold its assets in the Barnett Shale to XTO Energy.[4]

In October 2013, the company became a public company via an initial public offering, raising $1.5 billion.[5]

In November 2014, the company spun off 30% of its midstream operations, Antero Midstream Partners LP, via an initial public offering.[6]

In September 2015, the company sold its integrated water business to its midstream affiliate for $1.05 billion.[7]

In August 2016, the company acquired assets in the Marcellus Shale from Statoil for $96 million.[8]

In January 2017, the company acquired assets in the Utica Shale from Rex Energy for $30 million.[9]

References[]

  1. ^ a b c "Antero Resources Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Antero Resources". Fortune.
  3. ^ "Warburg Pincus Investments: Antero Resources". Warburg Pincus.
  4. ^ "XTO ENERGY TO PURCHASE ANTERO RESOURCES". The New York Times. January 12, 2005.
  5. ^ "Antero Resources Corporation Prices Upsized Initial Public Offering" (Press release). PR Newswire. October 9, 2013.
  6. ^ "Antero IPO garners $1.1B". American City Business Journals. November 5, 2014.
  7. ^ Miller, Ben (September 18, 2015). "Antero Resources selling water business for $1.05B". American City Business Journals.
  8. ^ Gough, Paul J. (August 1, 2016). "Antero buys Marcellus Shale acreage for $96M". American City Business Journals.
  9. ^ Gough, Paul J. (January 4, 2017). "Rex Energy sells Utica Shale assets in Ohio". American City Business Journals.

External links[]

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