Antero Resources Corporation (AR) SEC Filings & Earnings Calls
EquiReason read 20 Antero Resources Corporation SEC filings in the last 12 months. Latest: 10-Q on 2026-07-29 — Antero Resources reported strong Q2 2026 results with exploration and production revenue up 19% YoY and operating income up 75% YoY, driven by higher commodity prices and volumes..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 12.3B
- P/E TTM
- 11.5
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 28 Oct, in 4 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
29 Jul 202610-QAntero Resources reported strong Q2 2026 results with exploration and production revenue up 19% YoY and operating income up 75% YoY, driven by higher commodity prices and volumes.earningsopen
Figures in the filing · each found in the filing text
| Exploration and Production Revenue · Exploration and Production · Q2-2026 | $2M | +19% y/y |
| Exploration and Production Operating Income · Exploration and Production · Q2-2026 | $391452.00 | +75% y/y |
| Exploration and Production Capital Expenditures · Exploration and Production · Q2-2026 | $340716.00 | +63% y/y |
| Consolidated Revenue · Q2-2026 | $2M | +20% y/y |
| Consolidated Operating Income · Q2-2026 | $375459.00 | +83% y/y |
| Consolidated Capital Expenditures · Q2-2026 | $340716.00 | +63% y/y |
Risks flagged
Royalty Litigation Exposure
“the Company currently estimates the amount of losses that are reasonably possible associated with such other leases, could be up to $ 400 million.” · word for word
29 Jul 20268-K · 2.02Net production 4.1 (+21% y/y); Adjusted EBITDAX $595M (+57% y/y); Net income $279M; Guidance: Production guidance raised to 4.15-4.2 Bcfe/d; cash cost guidance lowered to $2.20-$2.30/Mcfeearningsopen
Figures in the filing · each found in the filing text
| Net production · Q2-2026 | $4.10 | +21% y/y |
| Adjusted EBITDAX · Q2-2026 | $595M | +57% y/y |
| Net income · Q2-2026 | $279M | |
| Cash operating costs · Q2-2026 | $2.38 | -11% y/y |
| Adjusted Free Cash Flow · Q2-2026 | $220M | +41% y/y |
Guidance
Production guidance raised to 4.15-4.2 Bcfe/d; cash cost guidance lowered to $2.20-$2.30/Mcfe
Production guidance raised, cost guidance lowered, margin uplift expected from cost reduction initiative.
Risks flagged
Natural gas price volatility could impact cash flow.
“Henry Hub natural gas price declined 16% from the year ago period, but EBITDAX increased 57% due to hedging and cost reductions.” · word for word
Integration risk from acquisitions.
“Completed $315 million of strategic acquisitions in July 2026.” · word for word
17 Jun 20268-K · 1.01, 2.03Antero Resources established a $1.65B commercial paper program for general corporate purposes, including working capital, capex, acquisitions, and debt repayment. No notes issued yet; credit facility serves as backstop.open
Risks flagged
Commercial paper program increases short-term debt exposure; reliance on credit market conditions.
“Notes are unsecured and may be issued up to $1.65B; revolving credit facility serves as backstop.”
29 Apr 202610-QTotal Revenue $1.95B (+44% y/y); Operating Income $729M (+169% y/y); Capital Expenditures $206M (-0% y/y)open
Figures in the filing · each found in the filing text
| Total Revenue · Q1-2026 | $1.95B | +44% y/y |
| Operating Income · Q1-2026 | $729M | +169% y/y |
| Capital Expenditures · Q1-2026 | $206M | -0% y/y |
| Gain on Sale of Assets · Q1-2026 | $46M |
Risks flagged
Royalty Litigation Exposure
“The Company currently estimates the amount of losses that are reasonably possible associated with such other leases, could be up to $400 million.” · word for word
Environmental Compliance Cost
“Consent Decree requires Antero to pay a total penalty of approximately $3.8 million.” · word for word
29 Apr 20268-K · 2.02Net production 3.9 (+13% y/y); Natural gas production 2.6 (+21% y/y); Liquids production 206,000 (+0% y/y); Guidance: Full HG quarter impact expected to result in 6% production growth and 15% lower cash costs per Mcfe from Q1 2026earningsopen
Figures in the filing · each found in the filing text
| Net production · Q1-2026 | $3.90 | +13% y/y |
| Natural gas production · Q1-2026 | $2.60 | +21% y/y |
| Liquids production · Q1-2026 | $206000.00 | 0% y/y |
| Pre-hedge natural gas price · Q1-2026 | $5.57 | |
| Pre-hedge C3+ NGL price · Q1-2026 | $37.83 | |
| Net income · Q1-2026 | $535M | |
| Adjusted Net Income · Q1-2026 | $357M | |
| Adjusted EBITDAX · Q1-2026 | $723M | +32% y/y |
| Net cash provided by operating activities · Q1-2026 | $859M | +88% y/y |
| Adjusted Free Cash Flow · Q1-2026 | $657M |
Guidance
Full HG quarter impact expected to result in 6% production growth and 15% lower cash costs per Mcfe from Q1 2026
Management expects Q2 2026 production to grow 6% sequentially and cash costs to decline 15% due to HG acquisition, with strong demand for U.S. energy exports.
Risks flagged
Geopolitical risks and global supply disruptions could impact NGL and LNG pricing and demand.
“recent geopolitical events have highlighted the advantages ... global supply outages and disruptions to lead to increasing risk premiums” · word for word
23 Apr 2026DEF 14ANet Debt Reduction $301M; Share Buyback $166M; Annual Incentive Payout 157.2open
Figures in the filing · each found in the filing text
| Net Debt Reduction · FY2025 | $301M | |
| Share Buyback · FY2025 | $166M | |
| Annual Incentive Payout · FY2025 | 157.2% | |
| Property and Severance Taxes Paid · FY2025 | $161M | |
| Methane Leak Loss Rate · FY2025 | 0.0% | |
| Wastewater Recycled · FY2025 | 90.0% | |
| Total Recordable Incident Rate · FY2025 | $0.20 | |
| Lost Time Incident Rate · FY2025 | $0.05 |
Risks flagged
Royalty Litigation Exposure
“The Company currently estimates the amount of losses that are reasonably possible associated with such other leases, could be up to $400 million.”
Environmental Compliance Cost
“Consent Decree requires Antero to pay a total penalty of approximately $3.8 million.”
23 Feb 20268-K · 7.01Antero Resources completed sale of Utica Shale assets for $800M cash to affiliates of Infinity Natural Resources and NOG; also redeeming 7.625% senior notes due 2029.being acquiredopen
Risks flagged
Debt redemption reduces leverage and interest expense; asset sale simplifies portfolio.
“issued a conditional notice of full redemption with respect to its 7.625% senior notes due 2029” · word for word
11 Feb 202610-KNatural gas production 808,000,000,000 (+2% y/y); C2 Ethane production 29,842,000 (-2% y/y); C3+ NGLs production 42,010,000 (-1% y/y); Guidance: 2026 annual production guidance implies net marketing costs of $0.02-$0.04 per Mcfeopen
Figures in the filing · each found in the filing text
| Natural gas production · Natural gas · FY2025 | $808.00B | +2% y/y |
| C2 Ethane production · C2 Ethane · FY2025 | $30M | -2% y/y |
| C3+ NGLs production · C3+ NGLs · FY2025 | $42M | -1% y/y |
| Oil production · Oil · FY2025 | $3M | -22% y/y |
| Combined production · Combined · FY2025 | $1256.00B | +0% y/y |
| Natural gas realized price · Natural gas · FY2025 | $3.56 | +56% y/y |
| Combined average sales price before derivatives · Combined · FY2025 | $3.99 | +21% y/y |
| Gathering, compression, processing and transportation cost · Combined · FY2025 | $2.27 | +5% y/y |
| Lease operating cost · Combined · FY2025 | $0.11 | +22% y/y |
| Antero Midstream capex for gas gathering/compression · Midstream · FY2025 | $91M | -31% y/y |
Guidance
2026 annual production guidance implies net marketing costs of $0.02-$0.04 per Mcfe
2026 production guidance implies stable volumes; net marketing costs expected to be modest.
Risks flagged
Geographic concentration in Appalachian Basin
“Our producing properties are geographically concentrated in the Appalachian Basin in West Virginia and Ohio.” · word for word
Firm transportation commitments
“As of December 31, 2025, our long-term contractual obligations under agreements with minimum volume commitments totaled $8.2 billion over the term of the contracts.” · word for word
Customer concentration
“The largest purchaser of our products during the year ended December 31, 2025 accounted for 9% of our product revenues.” · word for word
11 Feb 20268-K · 2.02Net production 3.5 (+2% y/y); Net income $194M; Adjusted EBITDAX $422M; Guidance: Production 4.1 Bcfe/d vs 3.4 Bcfe/d in 2025, +21%earningsopen
Figures in the filing · each found in the filing text
| Net production · Q4-2025 | $3.50 | +2% y/y |
| Net income · Q4-2025 | $194M | |
| Adjusted EBITDAX · Q4-2025 | $422M | |
| Adjusted Free Cash Flow before changes in working capital · Q4-2025 | $204M | |
| 2026 Production guidance · FY2026 | $4.10 | +21% y/y |
| 2026 D&C capital budget · FY2026 | $1.00B | |
| 2026 Land capital guidance · FY2026 | $100M |
Guidance
Production 4.1 Bcfe/d vs 3.4 Bcfe/d in 2025, +21%
2026 guidance reflects significant production growth from HG acquisition, with strong free cash flow and deleveraging.
Risks flagged
Commodity price sensitivity; discretionary growth capital dependent on prices.
“Discretionary growth capital up to $200 million will be based on the commodity price outlook” · word for word
9 Feb 20268-K · 7.01Antero Resources issued conditional notice to redeem all $365.353M of its 7.625% senior notes due 2029, contingent on Utica Shale divestiture closing.open
Figures in the filing · each found in the filing text
| aggregate principal amount of Notes outstanding · 2026-02-09 | $365M |
Risks flagged
Redemption is conditional on closing of Ohio Utica Shale divestiture; failure to close could leave high-cost debt outstanding.
“the Notice and the redemption ... are conditioned upon the satisfaction of the conditions precedent of (i) the closing of the Company’s divestiture ... and (ii) the Company’s board ... not having resolved that the redemption is no longer advisable” · word for word
3 Feb 20268-K · 1.01, 2.01, 2.03, 8.01Antero Resources entered into a Purchase Agreement (acquisition) and subsequently amended it.acquisitionopen
Risks flagged
Acquisition integration risk and potential increase in financial obligations.
“Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.”
28 Jan 20268-K · 1.01, 2.03Antero Resources Corporation issued $500M of 5.400% Senior Notes due 2036, a debt financing event increasing leverage. Terms include standard covenants and redemption provisions.open
Figures in the filing · each found in the filing text
| Senior note coupon rate | 5.4% |
Risks flagged
New debt issuance increases leverage and interest expense; 5.400% coupon for 10-year notes.
“Form of 5.400% Senior Note due 2036” · word for word
14 Jan 20268-K · 7.01, 8.01Aggregate principal amount of senior notes $750M; net proceeds $743Mopen
Figures in the filing · each found in the filing text
| aggregate principal amount of senior notes · 2026-01-13 | $750M | |
| net proceeds · 2026-01-13 | $743M |
Risks flagged
Acquisition failure triggers special mandatory redemption at 101% of principal plus accrued interest.
“If HG Acquisition does not close by June 2, 2026 or is terminated, Company must redeem all outstanding Notes at 101% of issue price plus accrued interest.”
8 Dec 20258-K · 1.01, 7.01Acquisition consideration $2.80B; Divestiture consideration $800M; Acquisition EBITDAX multiple 3.7open
Figures in the filing · each found in the filing text
| Acquisition consideration | $2.80B | |
| Divestiture consideration | $800M | |
| Acquisition EBITDAX multiple · 2026 | $3.70 | |
| Divestiture EBITDAX multiple · 2026 | $8.00 | |
| Expected production addition · 2026 | $850.00 | |
| Pro forma production · Q2-Q4 2026 | $4212.50 | |
| Synergies PV-10 | $950M |
Risks flagged
Integration risk; commodity price risk (partially hedged); regulatory approval risk.
“subject to customary closing adjustments” · word for word
29 Oct 202510-QAntero Resources reported a strong quarter with total revenue up 15% YoY and operating income swinging from a loss of $25M to a profit of $118M, driven by higher commodity prices.earningsopen
Figures in the filing · each found in the filing text
| Total revenue · Q3-2025 | $1.21B | +15% y/y |
| Operating income · Q3-2025 | $118M | |
| Capital expenditures · Exploration and Production · Q3-2025 | $203M | +17% y/y |
| Equity in earnings of unconsolidated affiliates · Q3-2025 | $29M | +13% y/y |
Risks flagged
Royalty litigation exposure
“the Company currently estimates the amount of losses that are reasonably possible associated with such other leases, could be up to $ 400 million.” · word for word
Commodity price volatility
“Operating income is highly sensitive to natural gas, NGL, and oil prices, as evidenced by the swing from loss to profit.”
29 Oct 20258-K · 2.02Net Production 3.4; Natural Gas Production 2.2; Liquids Production 206; Guidance: Q4 2025 production guidance raised to 3.5-3.525 Bcfe/dearningsopen
Figures in the filing · each found in the filing text
| Net Production · Q3-2025 | $3.40 | |
| Natural Gas Production · Natural Gas · Q3-2025 | $2.20 | |
| Liquids Production · Liquids · Q3-2025 | $206.00 | |
| Net Income · Q3-2025 | $76M | |
| Adjusted Net Income · Q3-2025 | $48M | |
| Adjusted EBITDAX · Q3-2025 | $318M | +70% y/y |
| Free Cash Flow · Q3-2025 | $91M | |
| Pre-hedge Natural Gas Equivalent Price · Q3-2025 | $3.59 | |
| Pre-hedge C3+ NGL Price · NGL · Q3-2025 | $36.60 |
Guidance
Q4 2025 production guidance raised to 3.5-3.525 Bcfe/d
Q4 production guidance raised to 3.5-3.525 Bcfe/d, reflecting acquisitions; full year production expected higher.
Risks flagged
Natural gas price hedging reduces upside exposure; 2026 swaps at $3.82/MMBtu.
“Antero also added 600 BBtu/d of natural gas swaps for 2026 at $3.82/MMBtu” · word for word
Antero Resources Corporation — questions
- What did Antero Resources Corporation file recently?
- 20 SEC filings in the last 12 months. Latest: 10-Q on 2026-07-29 — Antero Resources reported strong Q2 2026 results with exploration and production revenue up 19% YoY and operating income up 75% YoY, driven by higher commodity prices and volumes.
Every figure on this page comes from Antero Resources Corporation's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.