Antero Resources Q4 Results - Feb 13
Posted: Tue Feb 13, 2018 5:59 pm
Fourth Quarter 2017 Highlights and Updated 2018 Guidance:
GAAP Net Income for the quarter of $486,869,000
Adjusted Net Income for the quarter of $54,850,000 < Compares to my forecast of $50,965,000
Net daily gas equivalent production averaged a record 2,347 MMcfe/d (27% liquids), an 18% increase over the prior year period < Equal to my forecast
Liquids production averaged 107,433 Bbl/d, a 24% increase over the prior year period, and contributed 41% of total product revenues (before hedging)
Realized C3+ NGL price of $39.16 per barrel, which is 71% of NYMEX WTI price, before hedging
Realized natural gas price of $2.80 per Mcf, a $0.13 per Mcf negative differential to the average NYMEX natural gas price, before hedging
Realized a combined natural gas equivalent price of $3.46 per Mcfe before hedges, driven by a $0.66 per Mcfe uplift from NGL and oil production and pricing
Realized natural gas equivalent price of $3.82 per Mcfe including NGLs, oil and hedges < Compares to my forecast of $3.84
GAAP net income of $487 million, or $1.54 per diluted share, adjusted net income of $74 million, or $0.23 per diluted share, and Stand-Alone E&P adjusted net income of $55 million
Adjusted EBITDAX of $437 million and Stand-Alone E&P adjusted EBITDAX of $372 million
Antero's realized NGL price, net of hedges was $23.78/bbl, an increase of $4.77/bbl over the 3rd quarter.
Good Quarter results, but production is now expected to be flat from Q4 to Q1 because of weather related freeze offs in January. The Company says they will make up the difference and finish 2018 with production increasing 20% YOY. All of their natural gas is hedged for 2018 at $3.50.
GAAP Net Income for the quarter of $486,869,000
Adjusted Net Income for the quarter of $54,850,000 < Compares to my forecast of $50,965,000
Net daily gas equivalent production averaged a record 2,347 MMcfe/d (27% liquids), an 18% increase over the prior year period < Equal to my forecast
Liquids production averaged 107,433 Bbl/d, a 24% increase over the prior year period, and contributed 41% of total product revenues (before hedging)
Realized C3+ NGL price of $39.16 per barrel, which is 71% of NYMEX WTI price, before hedging
Realized natural gas price of $2.80 per Mcf, a $0.13 per Mcf negative differential to the average NYMEX natural gas price, before hedging
Realized a combined natural gas equivalent price of $3.46 per Mcfe before hedges, driven by a $0.66 per Mcfe uplift from NGL and oil production and pricing
Realized natural gas equivalent price of $3.82 per Mcfe including NGLs, oil and hedges < Compares to my forecast of $3.84
GAAP net income of $487 million, or $1.54 per diluted share, adjusted net income of $74 million, or $0.23 per diluted share, and Stand-Alone E&P adjusted net income of $55 million
Adjusted EBITDAX of $437 million and Stand-Alone E&P adjusted EBITDAX of $372 million
Antero's realized NGL price, net of hedges was $23.78/bbl, an increase of $4.77/bbl over the 3rd quarter.
Good Quarter results, but production is now expected to be flat from Q4 to Q1 because of weather related freeze offs in January. The Company says they will make up the difference and finish 2018 with production increasing 20% YOY. All of their natural gas is hedged for 2018 at $3.50.