ANTERO RESOURCES Corp

Antero Resources Corporation (NYSE: AR) is an independent oil and gas exploration and production company engaged in the development, production, exploration and acquisition of natural gas, natural gas liquids and oil properties located in the Appalachian Basin. The company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies enable economic development of unconventional formations. As of December 31, 2025, Antero Resources holds approximately 537,000 net acres of natural gas, NGLs and oil properties primarily in West Virginia and Ohio, with corporate headquarters in Denver, Colorado.

The company operates through three reportable segments: exploration and production of natural gas, NGLs and oil; equity method investment in Antero Midstream Corporation, which owns and operates midstream energy assets including gathering systems, compression facilities, water handling facilities and interests in processing and fractionation plants; and marketing of excess firm transportation capacity. Antero Resources owns 29% of Antero Midstream's common stock, providing significant influence over the midstream operations that support the company's production activities.

As of December 31, 2025, Antero Resources' proved reserves totaled 19,149 Bcfe, comprising 11,770 Bcf of natural gas, 1,208 MMBbl of NGLs and 22 MMBbl of oil and condensate. The company produced 1,256 Bcfe during 2025, with average daily combined production of 3,442 MMcfe/d. Proved developed reserves represent 76% of total proved reserves, while proved undeveloped reserves account for 24%. The company maintains a five-year development plan reviewed by its Board of Directors to support its maintenance capital program.

In February 2026, Antero Resources completed the acquisition of HG Energy II Production Holdings, LLC for $2.8 billion, adding approximately 385,000 net acres in the core Marcellus Shale in West Virginia. Concurrently, the company divested substantially all of its Utica Shale oil and gas assets in Ohio for $800 million. These transactions reflect the company's strategic focus on expanding its core position in the liquids-rich and dry gas Marcellus Shale while reducing cash costs and expanding margins through increased scale and operational efficiency.