NYSEEnergyOil & Gas Exploration & ProductionS&P MidCap 400
$36.08
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Close of Nov 06, 2026 · end-of-day data
AR 8-K filings, explained
Every material Form 8-K Antero Resources has filed with the SEC since July 31, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Antero Resources reported third quarter 2026 results on October 28, 2026, with net income of $367 million, compared with $76 million attributable to the company in the year-ago quarter. Adjusted EBITDAX rose 99% to $634 million, and Adjusted Free Cash Flow was $215 million, while the company bought back 1.6 million shares for about $56 million. Fourth quarter guidance calls for production of about 4.3 Bcfe/d and cash production expense of $2.10 to $2.20 per Mcfe.
Net income was $367 million versus $76 million attributable to Antero in Q3 2025; Adjusted Net Income was $256 million versus $48 million.
Adjusted EBITDAX was $634 million, up 99% from the prior year; cash operating costs fell to $2.05 per Mcfe from $2.44 per Mcfe.
Q4 2026 guidance: production of about 4.3 Bcfe/d and drilling and completion capital of $325 million to $350 million; 2026 D&C budget target is $1.2 billion.
Net debt was $2.78 billion at September 30, 2026, compared with $1.31 billion at September 30, 2025.
Antero Resources reported second quarter 2026 results, with net income of $279 million, up from $157 million a year earlier, and Adjusted EBITDAX of $595 million, up 57%. The company raised its full-year 2026 production guidance to 4.15 to 4.2 Bcfe/d after completing about $315 million of July acquisitions, while lowering its cash production expense guidance to $2.20 to $2.30 per Mcfe.
Net income of $279 million for the quarter ended June 30, 2026, versus $157 million in the prior-year quarter
Adjusted EBITDAX of $595 million, up 57% from the prior-year period; Adjusted Net Income of $236 million
Net daily production averaged 4.1 Bcfe/d, up 21% year over year, with 2026 production guidance raised to 4.15 to 4.2 Bcfe/d
Completed about $315 million of acquisitions in July 2026 and bought back 1.1 million shares for about $38 million in the quarter
Antero Resources established a commercial paper program that allows it to issue short-term, unsecured notes with total outstanding face amount up to $1.65 billion. The company has not issued any notes yet, and its senior unsecured revolving credit facility is expected to serve as a liquidity backstop. The program gives the company a new short-term borrowing option for working capital, capital expenditures, acquisitions and debt repayment.
Program size: up to $1.65 billion of notes outstanding at any time, unless increased under dealer agreements
Notes maturities may not exceed 397 days from issuance
No notes had been issued as of the June 16, 2026 filing date
Revolving credit facility to maintain capacity at least equal to program borrowings
Antero Resources reported first quarter 2026 net income of $535 million, up from $208 million a year earlier, with Adjusted EBITDAX of $723 million, up 32%. The company said the HG acquisition added production, and it lowered its 2026 cash production expense guidance while raising its ethane price premium outlook, with full-year production unchanged.
Net production averaged a company record 3.9 Bcfe/d, up 13% from the year-ago period
Net cash provided by operating activities was $859 million, versus $457.7 million a year earlier; Adjusted Free Cash Flow was $657 million
2026 cash production expense guidance cut to $2.25 to $2.35 per Mcfe from $2.35 to $2.45; ethane premium raised to $2.00 to $3.00 per barrel
Total long-term debt was $2.66 billion on March 31, 2026, versus $1.40 billion at December 31, 2025, after the HG acquisition
Antero Resources reported fourth quarter 2025 net income of $194 million, up from $150 million a year earlier, and Adjusted EBITDAX of $422 million, up from $332 million. Adjusted Net Income fell to $133 million from $181 million, and the company said it closed the HG Energy acquisition in February 2026 and expects 2026 production to average 4.1 Bcfe/d on $1 billion of drilling and completion capital.
Q4 2025 net income attributable to Antero was $194 million versus $150 million a year earlier; Adjusted Net Income was $133 million versus $181 million.
Q4 2025 net cash provided by operating activities was $371 million, up from $278 million, and Adjusted EBITDAX was $422 million.
The HG Energy acquisition closed in February 2026; the Ohio Utica Shale divestiture is expected to close by the end of February 2026.
2026 guidance calls for net production averaging 4.1 Bcfe/d on $1 billion of drilling and completion capital, with up to $200 million of discretionary growth capital.
On February 3, 2026, Antero Resources entered a $1.5 billion unsecured term loan with Royal Bank of Canada as administrative agent and borrowed the full amount in one draw to partially fund the Antero Resources HG Acquisition, which the filing reports as completed. The loan adds direct debt that matures on February 3, 2029 and carries variable interest, so shareholders will bear its cost and covenant limits.
$1.5 billion borrowed on February 3, 2026 under the Term Loan A Facility, with Royal Bank of Canada as administrative agent
Facility matures February 3, 2029, is unsecured, is not guaranteed by subsidiaries, and does not amortize
Variable interest at Term SOFR or Alternate Base Rate plus an Applicable Rate of 1.125% to 2.00% for Term SOFR loans
Covenant requires total indebtedness to capitalization of 65% or less at each fiscal quarter end; December 22, 2025 amendment to the HG purchase agreement also disclosed
Antero Resources completed a $750 million offering of 5.400% senior notes due 2036, with interest paid each February 1 and August 1. The company plans to use the proceeds, along with a Term Loan A, to fund its pending acquisition of HG Energy II Production Holdings, LLC, and the notes must be redeemed at 101% of principal if that deal does not close by the specified outside date.
$750 million aggregate principal of 5.400% senior notes due 2036, issued under a January 28, 2026 indenture with Computershare Trust Company, N.A. as trustee
Proceeds, plus a Term Loan A, are intended to fund the HG Acquisition, which is expected to close in the first half of 2026
Notes must be redeemed at 101% of principal plus accrued interest if the HG Acquisition does not close by the Special Mandatory Redemption Outside Date, which is no earlier than June 2, 2026
The Utica Disposition is expected to close in the first quarter of 2026 and is expected to fund the remainder of the acquisition costs
Antero Resources signed a purchase agreement on December 5, 2025 to acquire HG Energy II's upstream Marcellus Shale assets in West Virginia for $2.8 billion in cash, and agreed to sell its Ohio Utica Shale upstream assets for $800 million. Antero Midstream separately agreed to buy HG's midstream assets for $1.1 billion and sell its Utica midstream assets for about $400 million. The company says the deals are accretive and will keep an investment grade balance sheet, but the closing depends on customary conditions and regulatory clearance.
Upstream acquisition: $2.8 billion cash for about 385,000 net Marcellus acres; closing expected in the first half of 2026 (press release says second quarter 2026)
Utica upstream sale: $800 million cash; closing expected in the first quarter of 2026
Antero Midstream to buy HG midstream assets for $1.1 billion and sell Utica midstream assets for about $400 million
Outside Date of March 4, 2026, extendable to June 2, 2026 if HSR waiting periods are not yet cleared; $800 million 364-day bridge and $1.5 billion 3-year term loan committed
Antero Resources reported third quarter 2025 net income of $76 million, compared with a net loss of $35 million a year earlier, and adjusted EBITDAX of $318 million, up 70% from the prior year period. The company raised its fourth quarter 2025 production guidance to 3.5 to 3.525 Bcfe/d after about $260 million of West Virginia acquisitions, and it increased its full year 2025 land budget to $125 million to $150 million.
Q3 2025 net income was $76 million vs. a net loss of $35 million in Q3 2024; adjusted net income was $48 million (non-GAAP).
Free Cash Flow was $91 million in Q3 2025 (non-GAAP), vs. negative $23 million a year earlier; net cash from operations was $310 million, up 87%.
Fourth quarter 2025 production guidance raised to 3.5 to 3.525 Bcfe/d; full year 2025 production expected at the high end of 3.4 to 3.45 Bcfe/d.
Company bought 1.5 million shares for about $51 million in Q3 and has about $915 million of remaining repurchase capacity.
Antero Resources' Compensation Committee approved base salaries and target bonus levels for CEO Michael N. Kennedy and CFO Brendan E. Krueger, retroactive to August 14, 2025, when they took their roles. The company also adopted an Executive Severance Plan and set higher board retainers for the new Chairman, Benjamin A. Hardesty.
Kennedy: $1,125,000 annualized base salary and 130% target annual incentive; Krueger: $645,000 base salary and 100% target, approved September 17, 2025
Executive Severance Plan adopted September 17, 2025, covering Kennedy, Krueger, Paul M. Rady and Yvette K. Schultz
Board approved $75,000 annual cash retainer and $290,000 annual equity retainer for Chairman Hardesty, retroactive to August 14, 2025
Antero Resources and Antero Midstream said Paul Rady, co-founder and longtime chief executive, is moving to Chairman Emeritus, and CFO Michael Kennedy is becoming chief executive and president of both companies, effective August 14, 2025. The filing also separates the chairman and CEO roles, with Benjamin Hardesty named chairman of Antero Resources, and names Brendan Krueger as Antero Resources' CFO. The filing reports leadership changes only and includes no financial results.
Michael N. Kennedy becomes CEO and President of Antero Resources and Antero Midstream, and joins both boards; he ceases to be CFO of Antero Resources
Paul M. Rady moves to Chairman Emeritus until December 31, 2028, with an annual salary of $50,000 and a pro-rated 2025 annual incentive bonus
Benjamin A. Hardesty becomes Chairman of Antero Resources; Brendan E. Krueger becomes CFO of Antero Resources
Antero Resources reported second quarter 2025 results with net income of $157 million, compared with a loss of $80 million a year earlier, and Adjusted EBITDAX of $379 million. The company raised its full-year 2025 production guidance to 3.4 to 3.45 Bcfe/d and lowered its drilling and completion capital budget to $650 to $675 million, while reducing debt and buying back shares.
Net income was $157 million in Q2 2025 versus a loss of $80 million in Q2 2024; Adjusted Net Income was $110 million (non-GAAP).
Full-year 2025 production guidance raised to 3.4 to 3.45 Bcfe/d; drilling and completion capital budget cut to $650 to $675 million.
Net debt fell $187 million during the quarter to $1.1 billion; the company bought 3.6 million shares for about $126 million from April 1 to July 30, 2025.
Conference call scheduled for Thursday, July 31, 2025 at 9:00 am MT.
Antero Resources reported first quarter 2025 results, with net income attributable to the company of $208 million, up from $23 million a year earlier, and diluted EPS of $0.66 versus $0.07. Revenue rose to $1.35 billion from $1.12 billion, and Adjusted EBITDAX reached $549 million. The company also cut net debt by $204 million to $1.29 billion and repurchased 2.7 million shares for about $92 million through April 30, 2025.
Net income attributable to Antero was $208 million in Q1 2025 versus $23 million in Q1 2024; diluted EPS was $0.66 versus $0.07.
Total revenue was $1.35 billion versus $1.12 billion; Adjusted EBITDAX was $549 million versus $262 million.
Free Cash Flow was $337 million; net debt fell by $204 million to $1.29 billion as of March 31, 2025.
From January 1 to April 30, 2025, the company bought 2.7 million shares for about $92 million, with about $1 billion of repurchase capacity remaining.
Antero Resources reported fourth quarter 2024 net income of $150 million, up from $82 million a year earlier, and Adjusted Net Income of $181 million (non-GAAP). For 2025 it raised its maintenance production target by 50 MMcfe/d to 3.35 to 3.45 Bcfe/d and cut its drilling and completion capital budget by $25 million at the midpoint to $650 million to $700 million. Full-year 2024 net income was $57 million, down from $198 million in 2023.
Q4 2024 net income was $150 million vs. $82 million in Q4 2023; Adjusted EBITDAX was $332 million vs. $322 million
Q4 2024 net cash provided by operating activities was $278 million vs. $312 million a year earlier; Free Cash Flow was $159 million
2025 production guidance raised to 3.35 to 3.45 Bcfe/d; drilling and completion capital budget cut to $650 million to $700 million
Full-year 2024 Free Cash Flow was $73 million; estimated proved reserves were 17.9 Tcfe at year end 2024, flat from the prior year before sales of reserves in place
Antero Resources reported third quarter 2024 results with a net loss attributable to the company of $20 million, compared with net income of $17.8 million a year earlier. Total revenue fell to $1.06 billion from $1.13 billion, and Adjusted EBITDAX declined to $187 million from $271 million. The company also lowered its 2024 drilling and completion capital budget, while keeping its 2024 production guidance unchanged.
Q3 2024 net loss attributable to Antero of $20 million, versus net income of $17.8 million in Q3 2023
Total revenue of $1.06 billion, versus $1.13 billion a year earlier; Adjusted EBITDAX of $187 million, versus $271 million
2024 drilling and completion capital budget cut to $640 million to $660 million from $650 million to $700 million
Net production averaged 3.4 Bcfe/d, a 2% decrease from the year-ago period; 2024 production guidance maintained
Antero Resources reported a second quarter 2024 net loss of $66 million, compared with a net loss of $83 million in the year-ago quarter, and Adjusted EBITDAX of $151 million, up from $113 million. The company raised its full-year 2024 production guidance to 3.375 to 3.425 Bcfe/d and its C3+ NGL realized price guidance, citing higher liquids volumes and stronger well performance.
Q2 2024 net loss was $66 million versus $83 million in Q2 2023; Adjusted Net Loss was $60 million (non-GAAP).
Adjusted EBITDAX rose to $151 million from $113 million, and net cash from operating activities was $143 million.
Full-year 2024 production guidance was raised to 3.375 to 3.425 Bcfe/d, and C3+ NGL realized price guidance was raised to a $1.00 to $2.00 per barrel premium to Mont Belvieu.
S&P upgraded Antero to BBB- on May 15, 2024, and on July 30, 2024 the company entered a new unsecured credit facility with $1.65 billion in lender commitments.
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