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Antero Resources Corporation (AR-3.26%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations in the Appalachian Basin, where it holds approximately 521,000 net acres of natural gas, NGLs, and oil properties. Antero reported total proved reserves of 17.9 Tcfe, a slight decrease from the previous year.
Antero's total consolidated capital expenditures for 2024 were $721 million, with plans to increase this to between $725 million and $800 million for 2025. The company completed 41 net horizontal wells in 2024 and plans to complete 60 to 65 net horizontal wells in 2025.
The company reported a decrease in natural gas sales revenue from $2.2 billion in 2023 to $1.8 billion in 2024, primarily due to lower commodity prices and production volumes. NGLs sales increased from $1.8 billion to $2.1 billion, driven by higher prices and production volumes.
Antero's net cash provided by operating activities was $849 million for 2024, down from $995 million in 2023, attributed to lower natural gas prices and changes in working capital.
The company achieved an investment grade credit rating from S&P Global Inc. in 2024, which led to an amended and restated senior revolving credit facility with lender commitments of $1.65 billion.
Antero's commodity derivative fair value gains decreased significantly, with a net gain of $1 million in 2024 compared to $166 million in 2023, reflecting the company's reduced hedging activity.
The filing also discusses Antero's drilling partnerships, including a new partnership formed in December 2024 with an unaffiliated third party for the 2025 drilling program.
Antero Midstream, a related entity, reported increased gathering and compression revenues due to higher throughput and annual rate adjustments. However, water handling revenues decreased due to lower volumes.
The company outlines various risks, including commodity price volatility, regulatory changes, and competition, which could impact its operations and financial condition.
Antero continues to focus on maintaining a strong balance sheet and sustainable leverage profile, while also addressing environmental, social, and governance (ESG) goals.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Antero Resources Corporation annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.