Antero Resources

Antero Resources Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado. The company's reserves are entirely in the Appalachian Basin (92% were in the Marcellus Shale and 8% were in the Utica Shale) and are extracted using hydraulic fracturing.[1]

Antero Resources Corporation
TypePublic company
ISINUS03674X1063
IndustryPetroleum industry
Founded2002 (2002)
Founders
  • Paul M. Rady
  • Glen C. Warren, Jr.
HeadquartersDenver, Colorado, U.S.
Key people
 Paul M. Rady, Chairman & CEO
Glen C. Warren, Jr., President
Michael N. Kennedy CFO
Products
Production output
3.271 billion cubic feet of natural gas equivalent per day (2020)
Revenue US$4.619 billion (2021)
US$-186 million (2021)
Total assets US$13.896 billion (2021)
Total equity US$5.757 billion (2021)
Number of employees
519 (2021)
Websitewww.anteroresources.com
Footnotes / references
[1]
Antero Resources Headquarters in Denver

As of December 31, 2021, the company had 17,729 billion cubic feet (502 billion cubic meters) of estimated proved reserves, of which 61% was natural gas, 21% was ethane, 17% was natural gas liquids, and 1% was petroleum.[1]

The company is ranked 672nd on the Fortune 500.[2]

History

The company was founded in 2002 by Paul M. Rady and Glen C. Warren, Jr. after they sold their previous venture, Pennaco Energy, to Marathon Oil.

Beginning in February 2003, Warburg Pincus invested over $1.5 billion into the company and at one time held a controlling stake.[3]

In 2005, the company sold its assets in the Barnett Shale to XTO Energy.[4]

In October 2013, the company became a public company via an initial public offering, raising $1.5 billion.[5]

In November 2014, the company spun off 30% of its midstream operations, Antero Midstream Partners LP, via an initial public offering.[6]

In September 2015, the company sold its integrated water business to its midstream affiliate for $1.05 billion.[7]

In August 2016, the company acquired assets in the Marcellus Shale from Statoil for $96 million.[8]

In January 2017, the company acquired assets in the Utica Shale from Rex Energy for $30 million.[9]

References
  1. "Antero Resources Corporation 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Antero Resources". Fortune.
  3. "Warburg Pincus Investments: Antero Resources". Warburg Pincus.
  4. "XTO ENERGY TO PURCHASE ANTERO RESOURCES". The New York Times. January 12, 2005.
  5. "Antero Resources Corporation Prices Upsized Initial Public Offering" (Press release). PR Newswire. October 9, 2013.
  6. "Antero IPO garners $1.1B". American City Business Journals. November 5, 2014.
  7. Miller, Ben (September 18, 2015). "Antero Resources selling water business for $1.05B". American City Business Journals.
  8. Gough, Paul J. (August 1, 2016). "Antero buys Marcellus Shale acreage for $96M". American City Business Journals.
  9. Gough, Paul J. (January 4, 2017). "Rex Energy sells Utica Shale assets in Ohio". American City Business Journals.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.