| Schedule of reconciliation of investments in unconsolidated affiliates and summarized financial information |
The following table sets forth a reconciliation of Antero’s investment in unconsolidated affiliate (in thousands):
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|
|
|
|
Balance as of December 31, 2021 (1) |
|
$ |
232,399 |
|
Equity in earnings of unconsolidated affiliate |
|
|
54,863 |
|
Dividends from unconsolidated affiliate |
|
|
(93,854) |
|
Elimination of intercompany profit |
|
|
29,474 |
|
Balance as of September 30, 2022 (1) |
|
$ |
222,882 |
|
| (1) |
The fair value of the Company’s investment in Antero Midstream as of December 31, 2021 and September 30, 2022 was $1.3 billion based on the quoted market share price of Antero Midstream.
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The tables set forth below present summarized financial information of Antero Midstream (in thousands):
Balance Sheet
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited) |
|
|
|
December 31, |
|
September 30, |
|
|
|
2021 |
|
2022 |
|
Current assets |
|
$ |
83,804 |
|
|
80,785 |
|
Noncurrent assets |
|
|
5,460,197 |
|
|
5,483,036 |
|
Total assets |
|
$ |
5,544,001 |
|
|
5,563,821 |
|
|
|
|
|
|
|
|
|
Current liabilities |
|
$ |
114,009 |
|
|
106,382 |
|
Noncurrent liabilities |
|
|
3,143,294 |
|
|
3,245,584 |
|
Stockholders' equity |
|
|
2,286,698 |
|
|
2,211,855 |
|
Total liabilities and stockholders' equity |
|
$ |
5,544,001 |
|
|
5,563,821 |
|
Statement of Operations
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|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
|
2021 |
|
2022 |
|
Revenues |
|
$ |
681,712 |
|
|
678,432 |
|
Operating expenses |
|
|
254,905 |
|
|
283,112 |
|
Income from operations |
|
|
426,807 |
|
|
395,320 |
|
Net income |
|
$ |
252,991 |
|
|
243,449 |
|
|