Antero Resources reports Q3 EPS 6c, consensus 0c

Reports Q3 revenue $1.13B, consensus $1.11B. Net production averaged 3.5 Bcfe/d, an increase of 9% from the year ago period. Liquids production averaged 202 MBbl/d, an increase of 18% from the year ago period. Natural gas production averaged 2.3 Bcf/d, up 4% from the year ago period. Paul Rady, Chairman, CEO and President of Antero Resources commented, “Our third quarter results continue to benefit from the operating momentum that we have built throughout this year. During the first nine months of 2023 both our drilling and completion teams set numerous Company records. This operational excellence combined with stellar well performance has led to quarterly production volumes above expectations. As a result, we are raising our full year production guidance for the second consecutive quarter, while maintaining the same initial capital budget. We now expect production volumes to increase by approximately 225 MMcfe/d, or 7%, from the 2022 exit rate to the 2023 exit rate.”