Antero Resources Corp - Company Profile
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Business Description
Antero Resources Corp (Antero) develops and acquires natural gas, Natural Gas Liquids (NGLs) and oil properties in the Appalachian Basin. The company has gathering and compression, and water handling and treatment operations in the Appalachian Basin. The company operates through three reportable business segments: Exploration and Production, Midstream, and Marketing. In FY2023, the company’s capital expenditure stood at US$1,131.9 million, which grew 19.9% YoY.
Business Segments
Overview
Consists of gathering and compression; and water handling and treatment facilities. Gathers and processes wellhead natural gas and produces NGLs. Sources water from the Ohio River and other water sources to assist in well completion operations in the Marcellus and Utica Shales. Operates movable surface pipelines, permanent buried pipelines, fresh water storage facilitates and pumping stations. In FY2023, the segment incurred a capital expenditure of US$183.7 million which, declined 38.5% YoY.
Performance
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Overview
Includes unconventional reserves to produce natural gas, natural gas liquids and oil in Marcellus and Utica. Holds acreage in West Virginia and Ohio states in the US. Has in-house transportation capacity to carry out sales. It focuses on acquiring strategic properties that would complement its existing portfolio. In FY2023, the segment incurred a capital expenditure of US$1,131.8 million, which grew 19.9% YoY.
Performance
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Overview
Purchases and sells third-party natural gas and NGLs and also offers transportation capacity through long-term firm transportation agreements. Operates through transportation agreements with various pipelines in the Midwest, Gulf Coast, Eastern Regional, and Mid-Atlantic markets. Serves Chicago through Midwestern Gas Transmission pipeline (MGT), the Natural Gas Pipeline Company of America pipeline (NGPL), and the ANR Pipeline Company pipeline (ANR-Chicago) and Rockies Express Pipeline (REX). In Gulf Coast and Eastern Regional markets, it operates through Columbia Gas Transmission pipeline (TCO), Tennessee Gas Pipeline Company pipeline (Tennessee), Columbia Gulf Transmission pipeline (Columbia Gulf), ANR Pipeline Company (ANR-Gulf), and Equitrans pipeline (EQT). Operates through firm transportation contract with Enterprise Products Partners ATEX pipeline (ATEX) to transport ethane from Appalachia to Mont Belvieu, Texas. Transports propane and butane on the Sunoco pipeline, from Houston, Pennsylvania to Marcus Hook near Philadelphia, Pennsylvania.
Performance
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