Antero is a strong candidate for our Sweet 16 Growth Portfolio. Read this article and you will see why.
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Antero Resources (AR)
Antero Resources (AR)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Antero Resources (AR)
Antero Resources (AR; $23.65-Oct. 12; Outperform; PT: $47)
Antero reported 3Q15 output of 1,506 mmcfe/d, well ahead of our 1,399 mmcfe/d estimate ($0.02/sh positive impact to our EPS est.). Production grew 1% sequentially despite reduced activity in the Marcellus. However, volume upside was offset by lower realized liquids prices during the quarter, particularly propane. Looking ahead, we are lifting our 2016 production forecast to 1,950 mmcfe/d (+31% YoY), up from 1,850 mmcfe/d, to account for both recent results and efficiency gains. AR also recently added 150 mmcf/d in gas hedges for next year, which we view as a strong indication that management expects to exceed its preliminary 2016 growth forecast of 25-30%. — Oppenheimer
Antero reported 3Q15 output of 1,506 mmcfe/d, well ahead of our 1,399 mmcfe/d estimate ($0.02/sh positive impact to our EPS est.). Production grew 1% sequentially despite reduced activity in the Marcellus. However, volume upside was offset by lower realized liquids prices during the quarter, particularly propane. Looking ahead, we are lifting our 2016 production forecast to 1,950 mmcfe/d (+31% YoY), up from 1,850 mmcfe/d, to account for both recent results and efficiency gains. AR also recently added 150 mmcf/d in gas hedges for next year, which we view as a strong indication that management expects to exceed its preliminary 2016 growth forecast of 25-30%. — Oppenheimer
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group