AR on NYSE

Antero Resources

Logo: https://www.anteroresources.com/, Non-free logo, via Wikipedia⁴

American energy company

Antero Resources Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.³ From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 16, 2026.

Overview

2002Founded¹

Compare with Permian Resources Corp, Chord Energy Corporation or Marathon Oil, or pick any stock.

TickerAR on NYSE¹
Industrypetroleum industry¹
HeadquartersDenver¹
Websitewww.anteroresources.com
Legal formDelaware corporation¹
Business address1615 Wynkoop Street, Denver, Co 80202⁵
Filer categoryLarge accelerated filer⁵

See how the biggest companies compare on our leaderboards

Antero Resources Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado. The company's reserves are entirely in the Appalachian Basin (92% were in the Marcellus Shale and 8% were in the Utica Shale) and are extracted using hydraulic fracturing.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

16.7%Operating margin⁸

12.8%Net margin⁸

22.0%Revenue growth, 2025⁸

8.9%Return on equity⁸

0.19×Debt to equity⁸

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Natural Gas, Production brought in 54% of the revenue Antero Resources broke down this way in fiscal 2025.

Natural Gas, Production$2.9B⁸54%up 58% from 2024
Natural Gas Liquids Sales$2.0B⁸38%down 4% from 2024
Oil and Condensate$150.2M⁸3%down 35% from 2024
Marketings$125.9M⁸2%down 30% from 2024
Commodity Derivative Fair Value Gains Losses$111.0M⁸2%up 15091% from 2024
Amortization Of Deferred Revenue VPP$25.3M⁸0%down 7% from 2024
Other Revenue And Income$3.4M⁸0%down 1% from 2024

Products and services by year

Products and services	2023	2024	2025
Natural Gas, Production	$2.2B	$1.8B	$2.9B
Natural Gas Liquids Sales	$1.8B	$2.1B	$2.0B
Oil and Condensate	$247.1M	$230.0M	$150.2M
Marketings	$206.1M	$179.1M	$125.9M
Commodity Derivative Fair Value Gains Losses	$166.3M	$731.0K	$111.0M
Amortization Of Deferred Revenue VPP	$30.6M	$27.1M	$25.3M
Other Revenue And Income	$2.5M	$3.4M	$3.4M

Business segments

Exploration And Production brought in 80% of the revenue Antero Resources broke down this way in fiscal 2025.

Exploration And Production$5.1B⁸80%up 24% from 2024
Antero Midstream$1.2B⁸18%up 7% from 2024
Marketing$125.9M⁸2%down 30% from 2024

Business segments by year

Business segments	2023	2024	2025
Exploration And Production	$4.5B	$4.1B	$5.1B
Antero Midstream	$1.0B	$1.1B	$1.2B
Marketing	$206.1M	$179.1M	$125.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costsProfit

Other costs83¢$4.4B
Income tax4¢$215.9M
Profit13¢$674.6M

Out of $5.3B in revenue.⁸

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Share buybacks8¢$136.4M
Kept or used elsewhere92¢$1.5B

Out of $1.6B of cash from operations.⁸

Financial statements

Revenue⁹¹⁰¹¹¹²⁸$5.3B in 2025+20% since 2019

Operating income⁹¹⁰¹¹¹²⁸$883.6M in 2025

Net income⁹¹⁰¹¹¹²⁸$674.6M in 2025

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Total revenue	$5.3B	$4.3B	$4.7B
Lease operating	$135.1M	$118.7M	$118.4M
Production and ad valorem taxes	$163.1M	$207.7M	$158.9M
General and administrative (including equity-based compensation expense of $59,519, $66,462 and $60,812 in 2023, 2024 and 2025, respectively)	$232.5M	$229.3M	$224.5M
Depletion, depreciation and amortization	$749.7M	$762.1M	$746.8M
Impairment of property and equipment	$29.4M	$47.4M	$51.3M
Accretion of asset retirement obligations	$3.9M	$3.8M	$3.2M
Contract termination, loss contingency and settlements	$28.0M	$4.5M	$52.6M
Loss (gain) on sale of assets	-$266.0K	$862.0K	-$447.0K
Other operating expense	$99.0K	$390.0K	$336.0K
Total operating expenses	$4.4B	$4.3B	$4.3B
Operating income	$883.6M	$460.0K	$396.2M
Interest expense, net	-$83.7M	-$118.2M	-$117.9M
Equity in earnings of unconsolidated affiliate	$98.5M	$93.8M	$83.0M
Loss on early extinguishment of debt	-$3.6M	-$528.0K
Loss on convertible note inducements			-$374.0K
Transaction expense	-$4.4M
Total other income (expense)	$6.8M	-$24.9M	-$35.3M
Income (loss) before income taxes	$890.4M	-$24.5M	$361.0M
Income tax (expense) benefit	-$215.9M	$118.2M	-$63.6M
Net income and comprehensive income including noncontrolling interests	$674.6M	$93.7M	$297.3M
Less: net income and comprehensive income attributable to noncontrolling interests	$40.1M	$36.5M	$98.9M
Net income and comprehensive income attributable to Antero Resources Corporation	$634.4M	$57.2M	$198.4M
Net income per common share-basic (in dollars per share)	$2.05	$0.18	$0.66
Net income per common share-diluted (in dollars per share)	$2.03	$0.18	$0.64
Basic (in shares)	309.7M shares	309.5M shares	299.8M shares
Diluted (in shares)	312.4M shares	313.4M shares	311.6M shares
Equity-based compensation expense	$60.8M	$66.5M	$59.5M

Total assets⁹¹⁰¹¹¹²⁸$13.2B in 2025−13% since 2019

Total liabilities¹⁵⁹¹⁰¹¹¹²⁸$5.5B in 2025−33% since 2019

Shareholders’ equity¹⁵⁹¹⁰¹¹¹²⁸$7.6B in 2025+8% since 2019

Cash¹⁰¹¹¹²⁸$210.0M in 2025

Long-term debt¹⁵⁹¹⁰¹¹¹²⁸$1.4B in 2025−63% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Restricted cash	$210.0M
Accounts receivable	$33.8M	$34.4M
Accrued revenue	$473.5M	$453.6M
Derivative instruments	$68.9M	$1.1M
Prepaid expenses	$14.6M	$12.4M
Current assets held for sale	$20.3M
Other current assets	$10.8M	$6.0M
Total current assets	$831.8M	$507.5M
Unproved properties	$796.7M	$879.5M
Proved properties	$14.0B	$14.4B
Gathering systems and facilities		$5.8M
Other property and equipment	$113.0M	$105.9M
Property and equipment, gross	$15.0B	$15.4B
Less accumulated depletion, depreciation and amortization	-$5.8B	-$5.7B
Property and equipment, net	$9.2B	$9.7B
Operating leases right-of-use assets	$2.1B	$2.5B
Derivative instruments	$12.5M	$1.3M
Investment in unconsolidated affiliate	$245.7M	$231.0M
Assets held for sale	$754.7M
Other assets	$62.9M	$33.2M
Total assets	$13.2B	$13.0B
Accrued liabilities	$338.8M	$402.6M
Revenue distributions payable	$384.8M	$315.9M
Derivative instruments		$31.8M
Short-term lease liabilities	$516.3M	$493.9M
Deferred revenue, VPP	$23.5M	$25.3M
Current liabilities held for sale	$62.3M
Other current liabilities	$26.7M	$3.2M
Total current liabilities	$1.5B	$1.4B
Long-term debt	$1.4B	$1.5B
Deferred income tax liability, net	$907.3M	$693.3M
Derivative instruments		$17.2M
Long-term lease liabilities	$1.6B	$2.1B
Deferred revenue, VPP	$11.9M	$35.4M
Liabilities held for sale	$39.8M
Other liabilities	$57.1M	$62.0M
Total liabilities	$5.5B	$5.8B
Common stock, $0.01 par value; authorized - 1,000,000 shares; 311,165 and 308,510 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively	$3.1M	$3.1M
Additional paid-in capital	$5.9B	$5.9B
Retained earnings	$1.7B	$1.1B
Total stockholders' equity	$7.6B	$7.0B
Noncontrolling interests	$164.8M	$194.9M
Total equity	$7.7B	$7.2B	$7.1B
Total liabilities and equity	$13.2B	$13.0B
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized shares	50.0M shares	50.0M shares
Preferred stock, shares issued	0 shares	0 shares
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized shares	1.0B shares	1.0B shares
Common stock, shares issued	308.5M shares	311.2M shares
Common stock, shares outstanding	308.5M shares	311.2M shares

Cash from operations⁹¹⁰¹¹¹²⁸$1.6B in 2025+48% since 2019

Capital spending⁹¹⁰$944.0M in 2022−34% since 2019

Free cash flow⁹¹⁰¹¹¹²$2.1B in 2022

Share buybacks⁹¹⁰¹²⁸$136.4M in 2025+252% since 2019

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income including noncontrolling interests	$674.6M	$93.7M	$297.3M
Depletion, depreciation, amortization and accretion	$753.6M	$765.8M	$750.1M
Impairment of property and equipment	$29.4M	$47.4M	$51.3M
Commodity derivative fair value gains	-$111.0M	-$731.0K	-$166.3M
Settled commodity derivative gains (losses)	-$17.1M	$10.2M	-$25.4M
Payments for derivative monetizations			-$202.3M
Deferred income tax expense (benefit)	$214.0M	-$118.6M	$62.0M
Equity-based compensation expense	$60.8M	$66.5M	$59.5M
Equity in earnings of unconsolidated affiliate	-$98.5M	-$93.8M	-$83.0M
Dividends of earnings from unconsolidated affiliate	$125.3M	$125.2M	$125.1M
Amortization of deferred revenue	-$25.3M	-$27.1M	-$30.6M
Amortization of debt issuance costs and other	$937.0K	$2.4M	$2.3M
Settlement of asset retirement obligations	-$270.0K	-$3.6M	-$718.0K
Contract termination, loss contingency and settlements	$15.4M	$5.3M	$12.1M
Loss (gain) on sale of assets	-$266.0K	$862.0K	-$447.0K
Loss on early extinguishment of debt	$3.6M	$528.0K
Loss on convertible note inducements			$374.0K
Accounts receivable	-$142.0K	$25.4M	$7.5M
Accrued revenue	-$39.2M	-$52.8M	$306.9M
Prepaid expenses and other current assets	-$7.0M	$8.7M	$14.9M
Accounts payable including related parties	-$2.3M	$35.3M	-$16.8M
Accrued liabilities	-$45.0M	$1.3M	-$62.4M
Revenue distributions payable	$86.0M	-$45.8M	-$106.4M
Other current liabilities	$13.6M	$3.2M	-$357.0K
Net cash provided by operating activities	$1.6B	$849.3M	$994.7M
Additions to unproved properties	-$129.2M	-$91.0M	-$151.1M
Drilling and completion costs	-$685.5M	-$614.9M	-$964.3M
Additions to other property and equipment	-$5.4M	-$10.9M	-$16.4M
Acquisitions of oil and gas properties	-$253.1M
Proceeds from asset sales	$16.3M	$9.5M	$447.0K
Change in other assets	-$20.8M	-$6.9M	-$9.4M
Net cash used in investing activities	-$1.1B	-$714.2M	-$1.1B
Repurchases of common stock	-$136.4M		-$75.4M
Repayment of senior notes	-$141.7M
Borrowings on Credit Facility	$4.9B	$4.1B	$4.5B
Repayments on Credit Facility	-$4.9B	-$4.2B	-$4.1B
Payment of debt issuance costs	-$9.0M	-$6.1M	-$605.0K
Distributions to noncontrolling interests	-$70.2M	-$74.3M	-$128.8M
Employee tax withholding for settlement of equity-based compensation awards	-$29.6M	-$29.6M	-$30.4M
Convertible note inducements			-$374.0K
Other	-$1.5M	-$1.1M	-$830.0K
Net cash provided by (used in) financing activities	-$343.1M	-$135.1M	$146.0M
Net increase in cash, cash equivalents and restricted cash	$210.0M	$0	$0
Cash paid during the period for interest	$88.1M	$120.1M	$113.9M
Increase (decrease) in accounts payable and accrued liabilities for additions to property and equipment	-$27.3M	$10.5M	-$60.8M
Increase in other current liabilities for acquisitions of oil and gas properties	$7.5M

Compare Antero Resources with another company

The story

The company was founded in 2002 by Paul M. Rady and Glen C. Warren, Jr. after they sold their previous venture, Pennaco Energy, to Marathon Oil.

Beginning in February 2003, Warburg Pincus invested over $1.5 billion into the company and at one time held a controlling stake.

In 2005, the company sold its assets in the Barnett Shale to XTO Energy.

In October 2013, the company became a public company via an initial public offering, raising $1.5 billion.

In November 2014, the company spun off 30% of its midstream operations, Antero Midstream Partners LP, via an initial public offering

In September 2015, the company sold its integrated water business to its midstream affiliate for $1.05 billion.

In August 2016, the company acquired assets in the Marcellus Shale from Statoil for $96 million.

Read the full text

In January 2017, the company acquired assets in the Utica Shale from Rex Energy for $30 million.

From Wikipedia’s article on Antero Resources, shared under CC BY-SA 4.0.⁶

Products and brands

natural gas

Listed on Wikidata.¹

Former names

ANTERO RESOURCES APPALACHIAN CORPFeb 12, 2010 to Apr 1, 2013⁵
ANTERO RESOURCES BARNETT CORPApr 21, 2008 to Apr 21, 2008⁵

Timeline

Oct 10, 2013Went public Listed on NYSE¹
2002Founded Founded¹

Recent filings

Oct 13, 20264 OWNERSHIP DOCUMENT
Oct 13, 20264 OWNERSHIP DOCUMENT
Oct 13, 20264 OWNERSHIP DOCUMENT
Oct 13, 20264 OWNERSHIP DOCUMENT
Oct 13, 20264 OWNERSHIP DOCUMENT
Oct 13, 20264 OWNERSHIP DOCUMENT
Oct 13, 20264 OWNERSHIP DOCUMENT
Sep 17, 2026SD
Aug 6, 2026SCHEDULE 13G/A
Jul 31, 2026SCHEDULE 13G
Jul 29, 202610-Q
Jul 29, 20268-K
Jul 14, 20264 OWNERSHIP DOCUMENT
Jul 14, 20264 OWNERSHIP DOCUMENT
Jul 14, 20264 OWNERSHIP DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataAntero Resources on Wikidata
2
SEC EDGARAntero Resources filings on SEC EDGAR
3
WikipediaAntero Resources on Wikipedia
4
Wikimedia CommonsAntero Resources logo by https://www.anteroresources.com/, Non-free logo
5
SEC EDGARAntero Resources filings on SEC EDGAR
6
WikipediaAntero Resources on Wikipedia (revision used)
7
Wikimedia CommonsAntero Resources photo by Raysonho @ Open Grid Scheduler / Scalable Grid Engine, CC0
8
SEC EDGARAntero Resources 10-K for fiscal 2025
9
SEC EDGARAntero Resources 10-K for fiscal 2019
10
SEC EDGARAntero Resources 10-K for fiscal 2020
11
SEC EDGARAntero Resources 10-K for fiscal 2021
12
SEC EDGARAntero Resources 10-K for fiscal 2022
13
SEC EDGARAntero Resources 10-Q for fiscal 2026
14
SEC EDGARAntero Resources 10-Q for fiscal 2026
15
SEC EDGARAntero Resources 10-K for fiscal 2019