美國

證券交易委員會

華盛頓特區20549

表格10-Q

（標記一）


☒	根據1934年證券交易法第13或15(d)條，本季度報告

截至季度結束日期的財務報告2024年9月30日

或者


☐	根據1934年證券交易法第13或15（d)條的轉型報告

過渡期從到

委託文件號碼：001-36120

antero resources 公司

(根據其章程規定的註冊人準確名稱)

特拉華州		80-0162034
（註冊或組織的）州或其他司法轄區公司成立或組織）		（內部稅務服務僱主識別號碼）

1615 Wynkoop Street, 丹佛, 科羅拉多州		80202
，（主要行政辦公地址）		(郵政編碼)

(303) 357-7310

(註冊人電話號碼，包括區號)

註冊於法案12（b）條的證券：單位，每個單位包括一份A類普通股份和半份認股權證

每一類的名稱	交易標誌	在其上註冊的交易所的名稱
普通股，面值0.01美元	阿肯色州	請使用moomoo賬號登錄查看New York Stock Exchange

請在複選方框中指明註冊者是否：（1）在過去12個月內（或註冊者需要提交此類報告的更短期間）已提交美國1934年證券交易所法第13條或第15(d)條要求提交的所有報告，並（2）曾在過去90天內遵守此類提交要求。 ☒ 是 ☐ 否

請標記複選框，指示是否根據第405條《S-T條例》規定在過去12個月內（或要求提交此類文件的更短期間）已電子提交了每個交互數據文件。405號《S-T條例》規定，在過去12個月內（或要求提交此類文件的更短期間）註冊人是否已提交每個互動數據文件。 ☒ 是 ☐ 否

請用複選標記指示註冊人是否爲大型快速提交者、加速提交者、非加速提交者、較小的報告公司或新興成長公司。請參閱《交易所法》第120億.2條中”大型快速提交者「、」加速提交者「、」較小的報告公司「和」新興成長公司“的定義。

大型加速存取器 ☒		加速審核員 ☐
非加速申報人☐		小型報告公司☐
新興成長型企業 ☐

如果公司無法符合證券交易法第13(a)條規定，使用延長過渡期來遵守任何新的或修訂的財務會計準則，請在複選框中指示。 ☐

是否交易所法案120億.2 ☐311,007☒ 否

註冊人的普通股股本數量截至2024年10月25日（以千爲單位）： 311,164


有關前瞻性聲明的警告聲明		1
第一部分—財務信息		3
項目1。	基本報表(未經審計)	3
項目2。	分銷計劃	33
項目3。	市場風險的定量和定性披露	49
項目4。	控制和程序	51
第二部分其他		51
項目1。	法律訴訟	51
項目1A。	風險因素	51
項目2。	未註冊的權益證券銷售	52
事項4。	礦山安全披露	52
項目5	其他信息	52
項目6。	展示資料	53
簽名		54


			(Unaudited)
	December 31,		September 30,
	2023		2024
Assets
Current assets:
Accounts receivable	$	42,619		26,156
Accrued revenue		400,805		319,177
Derivative instruments		5,175		4,706
Prepaid expenses		12,901		7,042
Other current assets		14,192		11,565
Total current assets		475,692		368,646
Property and equipment:
Oil and gas properties, at cost (successful efforts method):
Unproved properties		974,642		960,116
Proved properties		13,908,804		14,309,543
Gathering systems and facilities		5,802		5,802
Other property and equipment		98,668		105,317
		14,987,916		15,380,778
Less accumulated depletion, depreciation and amortization		(5,063,274)		(5,447,104)
Property and equipment, net		9,924,642		9,933,674
Operating leases right-of-use assets		2,965,880		2,658,288
Derivative instruments		5,570		2,507
Investment in unconsolidated affiliate		222,255		226,860
Other assets		25,375		33,643
Total assets	$	13,619,414		13,223,618
Liabilities and Equity
Current liabilities:
Accounts payable	$	38,993		37,096
Accounts payable, related parties		86,284		92,720
Accrued liabilities		381,340		316,059
Revenue distributions payable		361,782		328,353
Derivative instruments		15,236		15,989
Short-term lease liabilities		540,060		505,652
Deferred revenue, VPP		27,101		25,709
Other current liabilities		1,295		2,377
Total current liabilities		1,452,091		1,323,955
Long-term liabilities:
Long-term debt		1,537,596		1,622,316
Deferred income tax liability, net		834,268		831,972
Derivative instruments		32,764		17,780
Long-term lease liabilities		2,428,450		2,148,608
Deferred revenue, VPP		60,712		41,816
Other liabilities		59,431		55,839
Total liabilities		6,405,312		6,042,286
Commitments and contingencies
Equity:
Stockholders' equity:
Preferred stock, $0.01 par value; authorized - 50,000 shares; none issued		—		—
Common stock, $0.01 par value; authorized - 1,000,000 shares; 303,544 and 311,031 shares issued and outstanding as of December 31, 2023 and September 30, 2024, respectively		3,035		3,110
Additional paid-in capital		5,846,541		5,894,786
Retained earnings		1,131,828		1,082,066
Total stockholders' equity		6,981,404		6,979,962
Noncontrolling interests		232,698		201,370
Total equity		7,214,102		7,181,332
Total liabilities and equity	$	13,619,414		13,223,618


	Three Months Ended September 30,
	2023		2024
Revenue and other:
Natural gas sales	$	516,214		425,802
Natural gas liquids sales		482,570		504,200
Oil sales		62,629		52,724
Commodity derivative fair value gains		3,448		18,368
Marketing		53,068		47,160
Amortization of deferred revenue, VPP		7,701		6,812
Other revenue and income		546		854
Total revenue		1,126,176		1,055,920
Operating expenses:
Lease operating		33,484		29,597
Gathering, compression, processing and transportation		671,886		685,183
Production and ad valorem taxes		32,258		47,423
Marketing		69,542		62,144
Exploration		591		671
General and administrative (including equity-based compensation expense of $18,458 and $16,065 in 2023 and 2024, respectively)		58,425		54,627
Depletion, depreciation and amortization		176,259		170,197
Impairment of property and equipment		13,476		13,455
Accretion of asset retirement obligations		889		998
Contract termination, loss contingency and settlements		13,659		(1,517)
Gain on sale of assets		(136)		(1,297)
Other operating expense		111		342
Total operating expenses		1,070,444		1,061,823
Operating income (loss)		55,732		(5,903)
Other income (expense):
Interest expense, net		(31,634)		(28,278)
Equity in earnings of unconsolidated affiliate		22,207		25,634
Loss on early extinguishment of debt		—		(528)
Total other expense		(9,427)		(3,172)
Income (loss) before income taxes		46,305		(9,075)
Income tax expense		(13,663)		(1,212)
Net income (loss) and comprehensive income (loss) including noncontrolling interests		32,642		(10,287)
Less: net income and comprehensive income attributable to noncontrolling interests		14,834		10,157
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$	17,808		(20,444)

Net income (loss) per common share—basic	$	0.06		(0.07)
Net income (loss) per common share—diluted	$	0.06		(0.07)

Weighted average number of common shares outstanding:
Basic		300,141		311,025
Diluted		311,534		311,025


	Nine Months Ended September 30,
	2023		2024
Revenue and other:
Natural gas sales	$	1,621,659		1,274,503
Natural gas liquids sales		1,375,738		1,511,253
Oil sales		172,402		180,899
Commodity derivative fair value gains		137,924		22,229
Marketing		155,390		145,098
Amortization of deferred revenue, VPP		22,852		20,289
Other revenue and income		1,864		2,574
Total revenue		3,487,829		3,156,845
Operating expenses:
Lease operating		91,553		88,477
Gathering, compression, processing and transportation		1,981,033		2,020,906
Production and ad valorem taxes		117,692		147,524
Marketing		217,078		192,764
Exploration and mine expenses		2,097		1,916
General and administrative (including equity-based compensation expense of $44,988 and $49,293 in 2023 and 2024, respectively)		169,587		169,917
Depletion, depreciation and amortization		515,247		513,787
Impairment of property and equipment		44,746		18,958
Accretion of asset retirement obligations		2,971		2,554
Contract termination, loss contingency and settlements		47,650		3,531
Gain on sale of assets		(447)		(1,127)
Other operating expense		336		370
Total operating expenses		3,189,543		3,159,577
Operating income (loss)		298,286		(2,732)
Other income (expense):
Interest expense, net		(85,262)		(91,146)
Equity in earnings of unconsolidated affiliate		58,986		69,862
Loss on early extinguishment of debt		—		(528)
Loss on convertible note inducement		(86)		—
Total other expense		(26,362)		(21,812)
Income (loss) before income taxes		271,924		(24,544)
Income tax benefit (expense)		(46,013)		2,089
Net income (loss) and comprehensive income (loss) including noncontrolling interests		225,911		(22,455)
Less: net income and comprehensive income attributable to noncontrolling interests		77,756		27,307
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$	148,155		(49,762)

Net income (loss) per common share—basic	$	0.50		(0.16)
Net income (loss) per common share—diluted	$	0.48		(0.16)

Weighted average number of common shares outstanding:
Basic		298,461		308,932
Diluted		310,958		308,932


					Additional
	Common Stock				Paid-in		Retained		Treasury Stock				Noncontrolling		Total
	Shares		Amount		Capital		Earnings		Shares		Amount		Interests		Equity
Balances, December 31, 2022		297,393	$	2,974		5,838,848		913,896		(34)	$	(1,160)		262,596		7,017,154
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes		514		5		(11,464)		—		—		—		—		(11,459)
Conversion of 2026 Convertible Notes		4,030		40		17,132		—		—		—		—		17,172
Repurchases and retirements of common stock		(2,616)		(26)		(51,503)		(24,987)		34		1,160		—		(75,356)
Equity-based compensation		—		—		13,018		—		—		—		—		13,018
Distributions to noncontrolling interests		—		—		—		—		—		—		(51,339)		(51,339)
Net income and comprehensive income		—		—		—		213,431		—		—		47,771		261,202
Balances, March 31, 2023		299,321		2,993		5,806,031		1,102,340		—		—		259,028		7,170,392
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes		1,038		11		(15,909)		—		—		—		—		(15,898)
Equity-based compensation		—		—		13,512		—		—		—		—		13,512
Distributions to noncontrolling interests		—		—		—		—		—		—		(31,745)		(31,745)
Net income (loss) and comprehensive income (loss)		—		—		—		(83,084)		—		—		15,151		(67,933)
Balances, June 30, 2023		300,359		3,004		5,803,634		1,019,256		—		—		242,434		7,068,328
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes		25		—		(86)		—		—		—		—		(86)
Conversion of 2026 Convertible Notes		2		—		7		—		—		—		—		7
Equity-based compensation		—		—		18,458		—		—		—		—		18,458
Distributions to noncontrolling interests		—		—		—		—		—		—		(21,161)		(21,161)
Net income and comprehensive income		—		—		—		17,808		—		—		14,834		32,642
Balances, September 30, 2023		300,386	$	3,004		5,822,013		1,037,064		—	$	—		236,107		7,098,188


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2024		2023		2024
Net income (loss) attributable to Antero Resources Corporation—common shareholders	$	17,808		(20,444)		148,155		(49,762)
Add: Interest expense for 2026 Convertible Notes		470		—		1,555		—
Less: Tax-effect of interest expense for 2026 Convertible Notes		(101)		—		(334)		—
Net income (loss) attributable to Antero Resources Corporation—common shareholders and assumed conversions	$	18,177		(20,444)		149,376		(49,762)

Net income (loss) per common share—basic	$	0.06		(0.07)		0.50		(0.16)
Net income (loss) per common share—diluted	$	0.06		(0.07)		0.48		(0.16)

Weighted average common shares outstanding—basic		300,141		311,025		298,461		308,932
Weighted average common shares outstanding—diluted		311,534		311,025		310,958		308,932


Balance as of December 31, 2023 ⁽¹⁾	$	222,255
Additional investments⁽²⁾		1,936
Equity in earnings of unconsolidated affiliate		69,862
Dividends from unconsolidated affiliate		(93,883)
Elimination of intercompany profit		26,690
Balance as of September 30, 2024 ⁽¹⁾	$	226,860


Asset retirement obligations—December 31, 2023	$	59,214
Obligations incurred		754
Accretion expense		2,554
Settlement of obligations		(3,171)
Revisions to prior estimates		(3,972)
Asset retirement obligations—September 30, 2024	$	55,379


		Weighted
		Average
	Number	Grant Date
	of Units	Fair Value
Total awarded and unvested—December 31, 2023	3,521,050	$	22.40
Granted	1,404,041		26.52
Vested	(1,588,616)		17.73
Forfeited	(85,114)		26.01
Total awarded and unvested—September 30, 2024	3,251,361	$	26.36


Dividend yield		—	%
Volatility		55	%
Risk-free interest rate		4.23	%
Weighted average fair value of awards granted	$	32.29


					(Unaudited)
	December 31, 2023				September 30, 2024
	Fair		Carrying		Fair		Carrying
	Value ⁽¹⁾		Value ⁽²⁾		Value ⁽¹⁾		Value ⁽²⁾
2026 Notes	$	99,534		96,351		99,166		96,536
2029 Notes		417,781		403,441		418,066		403,897
2030 Notes		573,720		594,622		591,000		595,183
2026 Convertible Notes		138,337		25,982		—		—
Total	$	1,229,372		1,120,396		1,108,232		1,095,616


	Nine Months Ended September 30,
	2023		2024
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests	$	225,911		(22,455)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization and accretion		518,218		516,341
Impairments		44,746		18,958
Commodity derivative fair value gains		(137,924)		(22,229)
Gains (losses) on settled commodity derivatives		(16,511)		11,530
Payments for derivative monetizations		(202,339)		—
Deferred income tax expense (benefit)		45,914		(2,295)
Equity-based compensation expense		44,988		49,293
Equity in earnings of unconsolidated affiliate		(58,986)		(69,862)
Dividends of earnings from unconsolidated affiliate		93,854		93,883
Amortization of deferred revenue		(22,852)		(20,289)
Amortization of debt issuance costs and other		2,601		1,900
Settlement of asset retirement obligations		(633)		(3,171)
Contract termination, loss contingency and settlements		11,901		5,143
Gain on sale of assets		(447)		(1,127)
Loss on early extinguishment of debt		—		528
Loss on convertible note inducement		86		—
Changes in current assets and liabilities:
Accounts receivable		(1,440)		16,463
Accrued revenue		334,294		81,628
Prepaid expenses and other current assets		32,584		8,486
Accounts payable including related parties		12,236		4,277
Accrued liabilities		(118,316)		(63,395)
Revenue distributions payable		(129,966)		(33,429)
Other current liabilities		4,627		1,108
Net cash provided by operating activities		682,546		571,286
Cash flows provided by (used in) investing activities:
Additions to unproved properties		(139,121)		(69,033)
Drilling and completion costs		(759,852)		(509,303)
Additions to other property and equipment		(13,073)		(10,128)
Proceeds from asset sales		447		7,484
Change in other assets		(2,538)		(7,271)
Net cash used in investing activities		(914,137)		(588,251)
Cash flows provided by (used in) financing activities:
Repurchases of common stock		(75,356)		—


				Weighted
				Average
Commodity / Settlement Period	Index	Contracted Volume		Price
Propane
October-December 2024	Mont Belvieu Propane-OPIS TET	10,000	Bbl/day	$	33.67	/Bbl


				Weighted Average
Commodity / Settlement Period	Index to Basis Differential	Contracted Volume		Hedged Differential
Natural Gas
October-December 2024	NYMEX to TCO	50,000	MMBtu/day	$	0.530	/MMBtu


				(Unaudited)
	Balance Sheet Location	December 31, 2023		September 30, 2024
Asset derivatives not designated as hedges for accounting purposes:
Commodity derivatives—current	Derivative instruments	$	—		3,040
Embedded derivatives—current	Derivative instruments		5,175		1,666
Embedded derivatives—noncurrent	Derivative instruments		5,570		2,507
Total asset derivatives ⁽¹⁾			10,745		7,213

Liability derivatives not designated as hedges for accounting purposes:
Commodity derivatives—current ⁽²⁾	Derivative instruments		15,236		15,989
Commodity derivatives—noncurrent ⁽²⁾	Derivative instruments		32,764		17,780
Total liability derivatives ⁽¹⁾			48,000		33,769

Net derivatives liability ⁽¹⁾		$	(37,255)		(26,556)


			Three Months Ended September 30,				Nine Months Ended September 30,
Cost	Classification	Location	2023		2024		2023		2024
Operating lease cost	Statement of operations	Gathering, compression, processing and transportation	$	418,005		435,308		1,206,733		1,283,302
Operating lease cost	Statement of operations	General and administrative		3,105		3,164		9,072		9,233
Operating lease cost	Statement of operations	Contract termination, loss contingency and settlements		297		—		4,227		—
Operating lease cost	Statement of operations	Lease operating		21		28		63		76
Operating lease cost	Balance sheet	Proved properties ⁽¹⁾		40,543		30,864		111,915		92,990
Total operating lease cost			$	461,971		469,364		1,332,010		1,385,601

Finance lease cost:
Amortization of right-of-use assets	Statement of operations	Depletion, depreciation and amortization	$	464		405		1,102		1,253
Interest on lease liabilities	Statement of operations	Interest expense		165		125		441		410
Total finance lease cost			$	629		530		1,543		1,663

Short-term lease payments			$	31,324		26,636		103,732		84,307


	Operating Leases		Financing Leases		Total
Remainder of 2024	$	173,056		407		173,463
2025		617,297		1,585		618,882
2026		564,792		1,230		566,022
2027		465,588		197		465,785
2028		388,734		23		388,757
Thereafter		943,071		10		943,081
Total lease payments		3,152,538		3,452		3,155,990
Less: imputed interest		(501,238)		(492)		(501,730)
Total	$	2,651,300		2,960		2,654,260


			Processing,
			Gathering,
	Firm		Compression		Operating and		Imputed Interest
	Transportation		and Water Service		Financing Leases		for Leases		Other
	(a)		(b)		(c)		(c)		(d)		Total
Remainder of 2024	$	298,885		17,680		136,145		37,317		3,038		493,065
2025		1,184,532		59,178		487,948		130,935		8,437		1,871,030
2026		1,182,065		26,001		462,483		103,538		3,976		1,778,063
2027		1,177,068		24,712		387,210		78,575		375		1,667,940
2028		1,118,610		23,379		330,913		57,845		—		1,530,747
Thereafter		4,439,689		86,473		849,561		93,520		—		5,469,243
Total	$	9,400,849		237,423		2,654,260		501,730		15,826		12,810,088


	Three Months Ended September 30, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	1,072,562		53,068		383		(383)		1,125,630
Intersegment		546		—		263,456		(263,456)		546
Total revenue		1,073,108		53,068		263,839		(263,839)		1,126,176

Operating expenses:
Lease operating		33,484		—		—		—		33,484
Gathering, compression, processing, transportation and water handling		671,886		—		51,914		(51,914)		671,886
General and administrative		58,425		—		17,633		(17,633)		58,425
Depletion, depreciation and amortization		176,259		—		30,745		(30,745)		176,259
Impairment of property and equipment		13,476		—		—		—		13,476
Other		47,372		69,542		1,234		(1,234)		116,914
Total operating expenses		1,000,902		69,542		101,526		(101,526)		1,070,444
Operating income (loss)	$	72,206		(16,474)		162,313		(162,313)		55,732
Equity in earnings of unconsolidated affiliates	$	22,207		—		27,397		(27,397)		22,207
Capital expenditures for segment assets	$	912,046		—		45,286		(45,286)		912,046


	Three Months Ended September 30, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	1,008,182		47,160		397		(397)		1,055,342
Intersegment		578		—		269,473		(269,473)		578
Total revenue		1,008,760		47,160		269,870		(269,870)		1,055,920

Operating expenses:
Lease operating		29,597		—		—		—		29,597
Gathering, compression, processing, transportation and water handling		685,183		—		51,724		(51,724)		685,183
General and administrative		54,627		—		22,872		(22,872)		54,627
Depletion, depreciation and amortization		170,197		—		32,534		(32,534)		170,197
Impairment of property and equipment		13,455		—		332		(332)		13,455
Other		46,620		62,144		(19)		19		108,764
Total operating expenses		999,679		62,144		107,443		(107,443)		1,061,823
Operating income (loss)	$	9,081		(14,984)		162,427		(162,427)		(5,903)
Equity in earnings of unconsolidated affiliates	$	25,634		—		27,668		(27,668)		25,634
Capital expenditures for segment assets	$	173,630		—		55,535		(55,535)		173,630


	Nine Months Ended September 30, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	3,331,130		155,390		929		(929)		3,486,520
Intersegment		1,309		—		780,672		(780,672)		1,309
Total revenue		3,332,439		155,390		781,601		(781,601)		3,487,829

Operating expenses:
Lease operating		91,553		—		—		—		91,553
Gathering, compression, processing, transportation and water handling		1,981,033		—		162,382		(162,382)		1,981,033
General and administrative		169,587		—		53,142		(53,142)		169,587
Depletion, depreciation and amortization		515,247		—		101,174		(101,174)		515,247
Impairment of property and equipment		44,746		—		—		—		44,746
Other		146,536		240,841		8,722		(8,722)		387,377
Total operating expenses		2,948,702		240,841		325,420		(325,420)		3,189,543
Operating income (loss)	$	383,737		(85,451)		456,181		(456,181)		298,286
Equity in earnings of unconsolidated affiliates	$	58,986		—		77,825		(77,825)		58,986
Capital expenditures for segment assets	$	912,046		—		130,025		(130,025)		912,046


	Nine Months Ended September 30, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	3,009,995		145,098		1,482		(1,482)		3,155,093
Intersegment		1,752		—		817,234		(817,234)		1,752
Total revenue		3,011,747		145,098		818,716		(818,716)		3,156,845

Operating expenses:
Lease operating		88,477		—		—		—		88,477
Gathering, compression, processing, transportation and water handling		2,020,906		—		162,051		(162,051)		2,020,906
General and administrative		169,917		—		65,312		(65,312)		169,917
Depletion, depreciation and amortization		513,787		—		107,205		(107,205)		513,787
Impairment of property and equipment		18,958		—		332		(332)		18,958
Other		154,768		192,764		2,385		(2,385)		347,532
Total operating expenses		2,966,813		192,764		337,285		(337,285)		3,159,577
Operating income (loss)	$	44,934		(47,666)		481,431		(481,431)		(2,732)
Equity in earnings of unconsolidated affiliates	$	69,862		—		82,795		(82,795)		69,862
Capital expenditures for segment assets	$	588,464		—		134,007		(134,007)		588,464


	As of December 31, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	222,255		—		626,650		(626,650)		222,255
Total assets		13,602,297		17,117		5,737,618		(5,737,618)		13,619,414


Balance Sheet

	December 31, 2023
Current assets	$	453,581
Noncurrent assets		12,562,439
Total assets	$	13,016,020

Accounts payable, related parties	$	86,284
Other current liabilities		1,360,102
Total current liabilities		1,446,386
Noncurrent liabilities		4,951,464
Total liabilities	$	6,397,850


	Three Months Ended				Amount of
	September 30,				Increase		Percent
	2023		2024		(Decrease)		Change
Production data ^{(1) (2)}:
Natural gas (Bcf)		208		200		(8)	(4)	%
C2 Ethane (MBbl)		6,696		7,302		606	9	%
C3+ NGLs (MBbl)		10,977		10,793		(184)	(2)	%
Oil (MBbl)		918		856		(62)	(7)	%
Combined (Bcfe)		320		313		(7)	(2)	%
Daily combined production (MMcfe/d)		3,474		3,406		(68)	(2)	%
Average prices before effects of derivative settlements ⁽³⁾:
Natural gas (per Mcf)	$	2.48		2.13		(0.35)	(14)	%
C2 Ethane (per Bbl) ⁽⁴⁾	$	11.73		8.01		(3.72)	(32)	%
C3+ NGLs (per Bbl)	$	36.81		41.30		4.49	12	%
Oil (per Bbl)	$	68.22		61.59		(6.63)	(10)	%
Weighted Average Combined (per Mcfe)	$	3.32		3.14		(0.18)	(5)	%
Average realized prices after effects of derivative settlements⁽³⁾:
Natural gas (per Mcf)	$	2.46		2.14		(0.32)	(13)	%
C2 Ethane (per Bbl) ⁽⁴⁾	$	11.73		8.01		(3.72)	(32)	%
C3+ NGLs (per Bbl)	$	36.76		41.56		4.80	13	%
Oil (per Bbl)	$	67.91		61.46		(6.45)	(9)	%
Weighted Average Combined (per Mcfe)	$	3.30		3.15		(0.15)	(5)	%
Average costs (per Mcfe):
Lease operating	$	0.10		0.09		(0.01)	(10)	%
Gathering and compression	$	0.68		0.72		0.04	6	%
Processing	$	0.83		0.88		0.05	6	%
Transportation	$	0.60		0.58		(0.02)	(3)	%
Production and ad valorem taxes	$	0.10		0.15		0.05	50	%
Marketing expense, net	$	0.05		0.05		—	*
General and administrative (excluding equity-based compensation)	$	0.13		0.12		(0.01)	(8)	%
Depletion, depreciation, amortization and accretion	$	0.55		0.55		—	*


				Total Number	Approximate
				of Shares	Dollar Value
				Repurchased	of Shares
				as Part of	that May
	Total Number			Publicly	Yet be Purchased
	of Shares	Average Price		Announced	Under the Plan
Period	Purchased ⁽¹⁾	Paid Per Share		Plans	($ in thousands)
July 1, 2024 - July 31, 2024	20,196	$	32.01	—	$	1,050,901
August 1, 2024 - August 31, 2024	917		25.20	—		1,050,901
September 1, 2024 - September 30, 2024	—		—	—		1,050,901
Total	21,113	$	31.71	—


Exhibit Number		Description of Exhibit
3.1		Amended and Restated Certificate of Incorporation of Antero Resources Corporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K (Commission File No. 001-36120) filed on October 17, 2013).
3.2		Certificate of Amendment to Second Amended and Restated Certificate of Incorporation of Antero Resources Corporation, dated June 8, 2023 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K (Commission File No. 001-36120) filed on June 8, 2023).
3.3		Second Amended and Restated Bylaws of Antero Resources Corporation, dated February 14, 2023 (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 10-K (Commission File No. 001-36120) filed on February 15, 2023).
10.1		Amended and Restated Credit Agreement, dated as of July 30, 2024, among Antero Resources Corporation, as Borrower, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q (Commission File No. 001-36120) filed on July 31, 2024).
31.1*		Certification of the Company’s Chief Executive Officer Pursuant to Section 302 of the Sarbanes Oxley Act of 2002 (18 U.S.C. Section 7241).
31.2*		Certification of the Company’s Chief Financial Officer Pursuant to Section 302 of the Sarbanes Oxley Act of 2002 (18 U.S.C. Section 7241).
32.1*		Certification of the Company’s Chief Executive Officer Pursuant to Section 906 of the Sarbanes Oxley Act of 2002 (18 U.S.C. Section 1350).
32.2*		Certification of the Company’s Chief Financial Officer Pursuant to Section 906 of the Sarbanes Oxley Act of 2002 (18 U.S.C. Section 1350).
95.1*		Federal Mine Safety and Health Act Information.
101*		The following financial information from this Quarterly Report on Form 10-Q of Antero Resources Corporation for the quarter ended September 30, 2024 formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations and Comprehensive Income, (iii) Condensed Consolidated Statements of Equity, (iv) Condensed Consolidated Statements of Cash Flows, and (v) Notes to the Condensed Consolidated Financial Statements, tagged as blocks of text.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).


ANTERO RESOURCES CORPORATION

By:	/s/ MICHAEL N. KENNEDY
	Michael N. Kennedy
	Chief Financial Officer and Senior Vice President – Finance

Date:	October 30, 2024