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AR NYSE
Price $18.85 Change +0.07
Volume 792,089
52 Week High 27.23
52 Week Low 17.89
11/22/2017 12:56 PM ET Pricing delayed 20 minutes
November 6, 2013 Antero Resources Reports Third Quarter 2013 Financial and Operational Results
(Logo: http://photos.prnewswire.com/prnh/20131101/LA09101LOGO) Highlights: Net daily production averaged 566 MMcfe/d, a 25% increase over second quarter 2013 and a 128% increase over third quarter 2012 production from continuing operations Net daily production included 7,900 Bbl/d of liquids, an 89% increase over second quarter 2013 Reported GAAP earnings were $118 million and adjusted net income was $49 million, a 10% decrease and 45% increase over second quarter 2013, respectively EBITDAX was $183 million, a 38% increase over second quarter 2013 and a 159% increase over third quarter 2012 EBITDAX from continuing operations Completed 34 Marcellus wells in the third quarter with an average 24-hour peak rate of 18.3 MMcfe/d (16% liquids in ethane rejection) First 13 unconstrained Marcellus Shale wells with shorter stage lengths (SSL) are averaging 20% to 30% above the Company's type curve   Completed one additional Utica Shale well since 2nd quarter 2013 press release with an...
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November 1, 2013 Antero Resources Announces Redemption of its 9.375% Senior Notes due 2017
Antero Resources Corporation (NYSE: AR) ("Antero") announced today that it has called for redemption all of its outstanding 9.375% Senior Notes due 2017 (CUSIP Nos. 03674PAC7 and 03674PAA1) (the " 2017 Notes ") for redemption on December 1, 2013 at a price of 104.688% of the principal amount, plus accrued and unpaid interest to the redemption date.  The redemption of the 2017 Notes will be funded with a portion of the proceeds of Antero's offering of 5.375% senior notes due 2021, which is expected to close on November 5, 2013 , subject to the satisfaction of customary closing conditions. (Logo: http://photos.prnewswire.com/prnh/20131101/LA09101LOGO) Because the redemption date is a Sunday, payment will be made on the next day—Monday, December 2, 2013—through the facilities of The Depository Trust Company . Antero Resources is an independent oil and natural gas company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas...
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October 25, 2013 Antero Resources Announces Partial Redemption of its 7.25% Senior Notes due 2019
Antero Resources Corporation (NYSE: AR) (" Antero ") announced today that it intends to call for redemption $140.0 million of its outstanding 7.25% Senior Notes due 2019 (CUSIP No. 03674PAF0) (the " 2019 Notes ") at a price of 107.25% of the principal amount, plus accrued and unpaid interest to the redemption date.  The partial redemption of the 2019 Notes will be funded with a portion of the proceeds of Antero's initial public offering, which was completed on October 16 , 2013.  Antero expects that the redemption date will be the 30th day following the delivery of notice of the partial redemption by the trustee for the 2019 Notes.  The selection of 2019 Notes to be redeemed will be made on a random lottery basis. Antero Resources is an independent oil and natural gas company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania....
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October 24, 2013 Antero Resources Announces Pricing of Upsized $1.0 Billion Offering of Senior Notes
Antero Resources Corporation (NYSE: AR) (" Antero " or the " Company ") announced today the pricing of its private placement to eligible purchasers of $1.0 billion in aggregate principal amount of 5.375% senior unsecured notes due 2021 at par.  The offering is expected to close on November 5, 2013 , subject to customary closing conditions. Antero estimates that it will receive net proceeds of approximately $987.1 million, of which it intends to use $549.6 million to finance the redemption of the Company's outstanding 9.375% senior notes due 2017 (the "2017 notes"). Antero intends to use the remaining net proceeds to (i) repay in full the Company's $25.0 million 9.0% senior note due 2013, (ii) repay the outstanding borrowings under the Company's credit facility and (iii) fund the Company's drilling and development program. The securities to be offered have not been registered under the Securities Act of 1933, as amended, (the " Securities Act "), or any state...
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October 24, 2013 Antero Resources Announces Launch of $500 Million Offering of Senior Notes
  Antero Resources Corporation (NYSE: AR) (" Antero " or the " Company ") announced today that, subject to market conditions, it intends to offer $500 million in aggregate principal amount of senior unsecured notes due 2021 in a private placement to eligible purchasers. Antero intends to use the net proceeds of the offering to finance a portion of the redemption of the Company's outstanding 9.375% senior notes due 2017 (the "2017 notes"). Antero intends to use borrowings under the Company's credit facility to finance the remainder of the redemption of the 2017 notes. The securities to be offered have not been registered under the Securities Act of 1933, as amended, (the " Securities Act "), or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes...
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October 18, 2013 Antero Announces Conference Call to Discuss Third Quarter 2013 Results
  Antero Resources Corporation (NYSE: AR) announced today that its third quarter 2013 results news release will be issued Wednesday, November 6 after the close of trading on the New York Stock Exchange . A conference call to review the results is scheduled on Thursday, November 7 at 9:00 a.m. MT.  To participate in the call, dial in at 877-317-6789 (U.S.), 866-605-3852 (Canada), or 412-317-6789 (International) and reference passcode 10035927. A telephone replay of the call will be available until November 18, 2013 at 877-344-7529 or 412-317-0088 (International) using the same pass code. A simultaneous webcast of the call may be accessed over the internet at www.anteroresources.com .  The webcast will be archived for replay on the Company's website until November 18 . Antero Resources is an independent oil and natural gas company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the...
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October 16, 2013 Antero Resources Announces the Addition of Three New Directors
Antero Resources Corporation (Antero) today announced the appointment of three new directors. Robert J. Clark , Benjamin A. Hardesty and James R. Levy have been selected to join its Board of Directors in connection with the closing of Antero's initial public offering. Mr. Clark has been Chairman and Chief Executive Officer of 3 Bear Energy, LLC, a midstream energy company with operations in the Rocky Mountains, since its formation in March 2013.  Prior to the formation of 3 Bear Energy LLC, Mr. Clark was president of Bear Tracker Energy, which he formed in 1996 and which he operated until its sale in 2013.  Prior to 1996, Mr. Clark served in various executive positions with SOCO Gas Systems, Inc., Snyder Oil Corporation, Ladd Petroleum Corporation, an affiliate of General Electric, and NICOR, Inc.  Mr. Clark received his Bachelor of Science degree from Bradley University and his Master's Degree in Business Administration from Northern Illinois University.  Mr....
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October 16, 2013 Antero Resources Corporation Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Options to Purchase Additional Common Stock
 Antero Resources Corporation (the " Company ") today announced the completion of its initial public offering of 41,083,750 shares of its common stock at a price to the public of $44.00 per share, including the exercise in full by the underwriters of their options to purchase an additional 3,409,091 shares of common stock from the selling stockholder and an additional 1,949,659 shares of common stock from the Company. Net proceeds received by the Company from the sale of 37,674,659 shares of common stock were approximately $1.58 billion, after deducting underwriting discounts. The Company intends to use the net proceeds to repay the outstanding borrowings under its credit facility and to fund a portion of its drilling and development program. Barclays, Citigroup, J.P. Morgan, Credit Suisse, Jefferies and Wells Fargo Securities acted as book running managers of the offering. A registration statement relating to these securities has been filed with, and declared effective by, the...
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October 9, 2013 Antero Resources Corporation Prices Upsized Initial Public Offering
Antero Resources Corporation (the " Company ") today announced the pricing of its initial public offering of 35,725,000 shares of its common stock at $44.00 per share. The shares are expected to begin trading on the New York Stock Exchange on October 10, 2013 under the ticker symbol "AR." The selling stockholder named in the registration statement has granted the underwriters a 30-day option to purchase up to an additional 3,409,091 shares of the Company's common stock held by the selling stockholder to cover over-allotments if the underwriters sell more than 35,725,000 shares of the Company's common stock.  The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,949,659 shares of the Company's common stock held by the Company to cover over-allotments if the underwriters sell more than 39,134,091 shares of common stock. Any exercise by the underwriters of their options to purchase additional shares of common stock will be made initially...
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September 30, 2013 Antero Resources Corporation Launches Initial Public Offering
 Antero Resources Corporation (the " Company ") today announced the commencement of its initial public offering of 30,000,000 shares of its common stock, at an anticipated initial public offering price between $38.00 and $42.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the " SEC "). The selling stockholder named in the registration statement expects to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of the Company's common stock held by the selling stockholder to cover over-allotments if the underwriters sell more than 30,000,000 shares of the Company's common stock.  The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of the Company's common stock held by the Company to cover over-allotments if the underwriters sell more than 33,750,000 shares of common stock. Any exercise by the...
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September 18, 2013 Antero Resources Reports on New Completion Results, Revises 2013 Capital Budget and Updates Hedge Position
Denver, Colorado, September18, 2013—Antero Resources LLC (“Antero” or “the Company”) today updated its shorter stage length completion results, revised its 2013 capital budget and provided a hedging update....
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September 3, 2013 Antero Resources Announces Borrowing Base Increase to $2.0 Billion
Denver, Colorado, September 3, 2013 — Antero Resources announced today that the borrowing base under its bank credit facility has been increased to $2.0 billion. This represents a $250 million increase over Antero’s previous borrowing base announced in May 2013. In addition, lender commitments under the facility were increased by $300 million to $1.75 billion. The $1.75 billion commitment can be expanded to the full $2.0 billion borrowing base upon bank approval....
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September 3, 2013 Antero Resources Names New Director and Chairman of Audit Committee
Denver, Colorado, September 3, 2013—Antero Resources Corporation (Antero) today announced the appointment of Richard W. Connor to its board of directors. Mr. Connor has also been appointed to serve as chairman of the Company’s audit committee....
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August 13, 2013 Antero Resources Reports Second Quarter 2013 Financial Results, Utica First Production and Well Rates
Denver, Colorado, August 13, 2013—Antero Resources today released its second quarter 2013 results. The relevant financial statements are included in Antero Resources LLC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, which has been filed with the Securities and Exchange Commission (“SEC”)....
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August 9, 2013 Antero Resources Names New VP-Finance and Investor Relations Head
Denver, Colorado, August 9, 2013—Antero Resources Corporation (Antero) today announced the appointment of Michael N. Kennedy to the role of Vice President – Finance. Mr. Kennedy will also serve in the investor relations role for Antero and will report to Antero’s President and Chief Financial Officer, Glen C. Warren, Jr....
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July 29, 2013 Antero Reports 47% Increase in Proved Reserves to 6.3 Tcfe
Denver, CO, July 29, 2013 – Antero Resources announced today that its proved reserves at June 30, 2013 were 6.3 Tcfe, a 47% increase compared to its proved reserves at December 31, 2012, in each case assuming ethane rejection as described below. Antero’s June 30, 2013 proved reserves exclude 178 MMBbls of ethane, which are not recovered in the SEC price case through processing under current pricing assumptions for ethane and methane....
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July 12, 2013 Antero Resources Announces Increase in Lender Commitments to $1.45 Billion
Denver, Colorado, July 12, 2013 — Antero Resources announced today that effective June 27, 2013 the lender commitments under its bank credit facility increased to $1.45 billion. This represents a $250 million increase over Antero’s previous lender commitments of $1.2 billion driven by the May 2013 borrowing base redetermination. The $1.45 billion in commitments can be expanded to the full $1.75 billion borrowing base upon bank approval. The bank syndicate, which is co-led by JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A., is a diversified group consisting of nine domestic and seven foreign institutions. The next borrowing base redetermination is expected to occur in September 2013. Antero has $25 million of debt maturing prior to the May 2016 maturity of the credit facility....
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June 13, 2013 Antero Resources LLC Revises 2013 Capital Budget and Updates Hedge Position
Denver, Colorado, June 13, 2013—Antero Resources LLC (Antero) today revised its 2013 capital budget and provided a natural gas hedging update....
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June 13, 2013 Antero Resources Corporation Files Registration Statement for Initial Public Offering of Common Stock
Denver, Colorado, June 13, 2013—Antero Resources Corporation (Antero Corporation) today announced the filing of a Registration Statement on Form S-1 with the Securities and Exchange Commission. The number of shares to be offered and the price range for the offering have not been determined. Antero Corporation intends to apply for a listing of the stock of Antero Corporation on the New York Stock Exchange under the symbol “AR”. Antero Corporation expects to use the net proceeds it receives from the offering to pay down its credit facility, and the remaining net proceeds, if any, for general corporate purposes ....
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May 13, 2013 Antero Resources Reports First Quarter 2013 Results
Denver, Colorado, May 13, 2013—Antero Resources today released its first quarter 2013 results. The relevant financial statements are included in Antero Resources LLC’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013, which has been filed with the Securities and Exchange Commission....
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May 10, 2013 Antero Resources Announces Borrowing Base Increase to $1.75 Billion
Denver, Colorado, May 9, 2013 — Antero Resources announced today that the borrowing base under its bank credit facility has been increased to $1.75 billion. This represents a $530 million increase over Antero’s previous borrowing base. In addition, lender commitments under the facility were increased by $500 million to $1.2 billion. The $1.2 billion commitment can be expanded to the full $1.75 billion borrowing base upon bank approval....
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March 18, 2013 Antero Reports 2012 Results and Delivers Operating Update
2012 Release Highlights: Record annual net production of 334 MMcfe/d, a 37% increase over 2011 including discontinued operations 93% increase in Appalachian net annual production to 239 MMcfe/d in 2012, excluding discontinued operations 73% increase in proved reserves to 4.9 Tcfe, pro forma for the sale of Arkoma and Piceance properties in 2012 All-in finding and development costs averaged $0.64/Mcfe for proved reserve additions from all sources in 2012 94% increase in proved, probable and possible reserves (3P) to 26.1 Tcfe including 1.6 billion barrels of oil and NGLs GAAP net loss of $285 million, adjusted non-GAAP earnings of $113 million including discontinued operations Consolidated EBITDAX of $434 million in 2012, up 28% from 2011 including discontinued operations Current net production is 390 MMcfe/d and an additional 115 MMcfe/d net is constrained or shut-in 15 Antero-operated drilling rigs currently running in Marcellus and Utica Shale core areas Marcellus Shale leasehold...
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January 28, 2013 Antero Reports 73% Increase in Appalachian Proved Reserves to 4.9 Tcfe
Denver, CO, January 28, 2013 – Antero Resources announced today that proved reserves at December 31, 2012 were 4.9 Tcfe, a 73% increase compared to reserves at December 31, 2011, pro forma for the 2012 divestment of Antero’s Arkoma Basin and Piceance Basin properties. Proved, probable and possible reserves (3P) increased by 94% to 26.1 Tcfe. The 3P reserves were comprised of 21.2 Tcfe in the Marcellus Shale and 5.0 Tcfe in the Utica Shale. Including ethane and other natural gas liquids (NGLs), Antero’s 3P liquids reserves increased by 170% to 1.6 billion barrels at December 31, 2012. Preliminary finding and development costs for proved reserve additions from all sources including drill bit, acquisitions, leasehold additions and all price and performance revisions averaged $0.68 per Mcfe in 2012. Antero’s proved developed reserve additions totaled 715 Bcfe on $816 million of drilling capital for a development cost of $1.14 per Mcfe in 2012. Drilling capital is defined as drilling and...
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