Antero Resources increases FY24 production guidance range to 3.35 to 3.4 Bcfe/d

Antero is increasing its full year 2024 production guidance to 3.35 to 3.4 Bcfe/d, an increase at the midpoint of approximately 25 MMcfe/d. The higher than expected volumes are driven by higher liquids volumes and capital efficiency gains. Antero is also increasing its full year 2024 C3+ NGL realized price guidance to a range of $0.00 to $1.00 per barrel premium to Mont Belvieu, up from the previous guidance of flat to Mont Belvieu. This increase reflects higher expected realizations from its take-in-kind transactions, including more exposure to premium international prices during 2024. Antero is decreasing its cash production expense guidance by $0.05 per Mcfe at the midpoint to a range of $2.40 to $2.50 per Mcfe reflecting lower fuel costs and lower production and ad valorem taxes.