Antero Resources reports Q2 EPS (28c), consensus (28c)

Reports Q2 revenue $953.3M, consensus $932.41M. Net production averaged 3.4 Bcfe/d. Liquids production averaged 192 MBbl/d, an increase of 16% from the year ago period. Natural gas production averaged 2.2 Bcf/d, flat from the year ago period. Paul Rady, Chairman, CEO and President of Antero Resources commented, “Our second quarter results continue to build on the operational momentum that we achieved in the first quarter. During the quarter, we achieved a number of new company quarterly drilling and completion records, including footage drilled in a 24-hour period and completion stages pumped per day. These operational efficiencies are expected to result in lower maintenance capital expenditures going forward. Further, the continued strength in our well performance allows us to increase our 2023 production guidance by 3%, while maintaining the same capital budget.”