olivLaw · US equity research
Antero Resources Corporation AR
Crude Petroleum & Natural Gas · SIC 1311 · Vertical: Crude Petroleum & Natural Gas (SIC 1311)
Antero Resources is an independent natural gas producer in the Appalachian Basin, focused on Marcellus and Utica shales and associated liquids. After the HG Energy acquisition, closed in February 2026, production reached a company record in the second quarter of 2026, and the company raised its 2026 production guidance. The current interest comes from the planned cost reduction and the acquisition's effect on cash flow, which could change the company's volatility profile if integration proceeds as planned.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Antero Resources Corporation (AR) stock was 36.38 USD (−2.81% on the day), with market capitalisation 11.2 bn USD, P/E 8.2 on diluted EPS of 4.46 USD over the last 12 months, beta 0.65, 52-week range 31.38–45.15 USD. Latest reported quarter (Q3 2026): revenue of 1.6 bn USD (+28.7% YoY), net income of 367.1 m USD (+328.9% YoY), diluted EPS 1.19 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.3
- weak (30–45)
- Bollinger (20, 2)
- 34.91 – 43.14
- in the lower half of the band · %B 0.18 · band width 21.1%
- SMA 50 / 200
- 37.60 / 36.93
- mixed trend
- MACD (12, 26, 9)
- 0.65 / 1.03
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.8% | −5.9% | +7.8 pp | — |
| 3 months | +4.2% | −4.6% | +8.9 pp | — |
| 6 months | +0.0% | +0.2% | −0.2 pp | — |
| Year to date | +5.6% | +7.4% | −1.9 pp | — |
| 1 year | +10.8% | +8.2% | +2.6 pp | +15.7% |
| 3 years | +25.6% | +68.4% | −42.8 pp | −2.1% |
| 5 years | +73.3% | +56.5% | +16.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.2 bn | 1.4 bn | 1.3 bn | 1.2 bn | 1.4 bn | 1.9 bn | 1.6 bn | 1.6 bn |
| Operating income | 57.8 m | 271.5 m | 204.9 m | 118.1 m | 289.2 m | 729.5 m | 375.5 m | 391.8 m |
| Depreciation & amortisation | 193.7 m | 186.4 m | 187.6 m | 188.8 m | 187.0 m | 206.2 m | 227.3 m | 241.2 m |
| Pre-tax income | 54.6 m | 273.9 m | 214.8 m | 128.9 m | 272.9 m | 693.7 m | 365.4 m | 463.5 m |
| Income tax | -104.2 m | 54.4 m | 48.2 m | 43.3 m | 69.9 m | 145.5 m | 79.0 m | 96.4 m |
| Net income | 158.8 m | 219.5 m | 166.6 m | 85.6 m | 202.9 m | 548.2 m | 286.4 m | 367.1 m |
| Diluted EPS | 0.49 ≈ | 0.66 | 0.50 | 0.24 | 0.65 ≈ | 1.72 | 0.90 | 1.19 |
| Operating cash flow | 278.0 m | 457.7 m | 492.4 m ≈ | 310.1 m ≈ | 370.7 m | 859.1 m | 438.8 m ≈ | 575.2 m ≈ |
| Share repurchases | — | 10.1 m | 74.9 m ≈ | 51.4 m ≈ | 83.0 k | — | — | 55.7 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 28 percentile of its own 25-quarter history (min 2.3, median 16.8, max 432.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.1 bn | 4.4 bn | 3.5 bn | 4.6 bn | 7.1 bn | 4.7 bn | 4.3 bn | 5.3 bn |
| Revenue YoY | +13.2% | +6.5% | −20.8% | +32.3% | +54.5% | −34.4% | −7.6% | +22.0% |
| Net income | -45.7 m | -293.1 m | -1.3 bn | -154.1 m | 2.0 bn | 297.3 m | 93.7 m | 674.6 m |
| Net income YoY | −105.8% | unavailable | unavailable | unavailable | unavailable | −85.1% | −68.5% | +619.9% |
| Diluted EPS | -1.26 | -1.11 | -4.65 | -0.61 | 5.69 | 0.64 | 0.18 | 2.03 |
| Diluted EPS YoY | −164.9% | unavailable | unavailable | unavailable | unavailable | −88.8% | −71.9% | +1,027.8% |
| net % | -1.1% | -6.6% | -36.1% | -3.3% | 28.0% | 6.4% | 2.2% | 12.8% |
| Free cash flow | -128.6 m | -318.7 m | -138.7 m | 944.2 m | 2.1 bn | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 210.0 m USD
- Financial debt
- 1.4 bn USD
- Net debt
- 1.2 bn USD
- Equity
- 7.7 bn USD
- Total assets
- 13.2 bn USD
- Debt / equity
- 0.18x
- Current ratio
- 0.55x
- ROE
- 9.0%
- ROA
- 5.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.5 bn | 4.6 bn | 7.1 bn | 4.7 bn | 4.3 bn | 5.3 bn | SEC (XBRL)· 11 Feb 2026verified |
| Operating income | -953.4 m | 23.9 m | 2.5 bn | 396.2 m | 460.0 k | 883.6 m | SEC (XBRL)· 11 Feb 2026verified |
| Depreciation & amortisation | 861.9 m | 742.0 m | 715.2 m | 746.8 m | 762.1 m | 749.7 m | SEC (XBRL)· 11 Feb 2026verified |
| EBITDA | -91.6 m ≈ | 765.9 m ≈ | 3.3 bn ≈ | 1.1 bn ≈ | 762.5 m ≈ | 1.6 bn ≈ | SEC (XBRL)· 11 Feb 2026derived |
| Pre-tax income | -1.7 bn | -228.2 m | 2.4 bn | 361.0 m | -24.5 m | 890.4 m | SEC (XBRL)· 11 Feb 2026verified |
| Income tax | -397.5 m | -74.1 m | 441.3 m | 63.6 m | -118.2 m | 215.9 m | SEC (XBRL)· 11 Feb 2026verified |
| Net income | -1.3 bn | -154.1 m | 2.0 bn | 297.3 m | 93.7 m | 674.6 m | SEC (XBRL)· 11 Feb 2026verified |
| Diluted EPS | -4.65 | -0.61 | 5.69 | 0.64 | 0.18 | 2.03 | SEC (XBRL)· 11 Feb 2026verified |
| Weighted average diluted shares | 272.4 m | 308.1 m | 329.2 m | 311.6 m | 313.4 m | 312.4 m | SEC (XBRL)· 11 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 0 | 0 | 0 | 0 | 0 | 210.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Receivables | 28.5 m | 79.0 m | 35.5 m | 42.6 m | 34.4 m | 33.8 m | SEC (XBRL)· 11 Feb 2026verified |
| Current assets | 574.1 m | 686.1 m | 787.5 m | 475.7 m | 507.5 m | 831.8 m | SEC (XBRL)· 11 Feb 2026verified |
| Total assets | 13.2 bn | 13.9 bn | 14.1 bn | 13.5 bn | 13.0 bn | 13.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Accounts payable | 26.7 m | 24.8 m | 77.5 m | — | — | — | SEC (XBRL)· 15 Feb 2023verified |
| Long-term debt | 3.0 bn | 2.1 bn | 1.2 bn | 1.5 bn | 1.5 bn | 1.4 bn | SEC (XBRL)· 11 Feb 2026verified |
| Current liabilities | 983.1 m | 2.1 bn | 1.8 bn | 1.5 bn | 1.4 bn | 1.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Total liabilities | 7.1 bn | 7.8 bn | 7.1 bn | 6.4 bn | 5.8 bn | 5.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Equity | 6.1 bn | 6.1 bn | 7.0 bn | 7.1 bn | 7.2 bn | 7.7 bn | SEC (XBRL)· 11 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 735.6 m | 1.7 bn | 3.1 bn | 994.7 m | 849.3 m | 1.6 bn | SEC (XBRL)· 11 Feb 2026verified |
| Capex | 874.4 m | 715.9 m | 944.0 m | — | — | — | SEC (XBRL)· 15 Feb 2023verified |
| Free cash flow | -138.7 m ≈ | 944.2 m ≈ | 2.1 bn ≈ | — | — | — | SEC (XBRL)· 15 Feb 2023derived |
| Investing cash flow | -530.1 m | -710.8 m | -943.6 m | -1.1 bn | -714.2 m | -1.1 bn | SEC (XBRL)· 11 Feb 2026verified |
| Financing cash flow | -205.6 m | -949.3 m | -2.1 bn | 146.0 m | -135.1 m | -343.1 m | SEC (XBRL)· 11 Feb 2026verified |
| Share repurchases | 43.4 m | — | 873.7 m | 75.4 m | — | 136.4 m | SEC (XBRL)· 11 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 43 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 11.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Returns12
- Growth0
- Balance sheet36
- Valuation66
- Quality74
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 24.98 – 55.43 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA24.98 – 41.40 (Mid 36.67)12 companies used · median multiple 5.1x · quartiles 3.8x – 5.7xAPA, BKV, EOG, EQT, EXE, FANG, GPOR, MGY, MUR, OVV, VIST, WTI
- Peers: P/E38.10 – 55.43 (Mid 50.09)20 companies used · median multiple 11.2x · quartiles 8.5x – 12.4xANNA, APA, BKV, DMLP, DVN, EOG, EQT, EXE, GPOR, KGEI, KRP, MGY, MUR, MXC, OVV, OXY, PNRG, PR, VIST, WDS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 43/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 14.1% | 79 (vs peers) | 14% |
| Net margin · Quality | 21.7% | 65 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -9.6% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -29.1% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | 0.9x | 50 (vs peers) | 14% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.4x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 8.2x | 82 (vs peers) | 14% |
| EV/EBITDA · Valuation | 5.1x | 50 (vs peers) | 14% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.8% | 12 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet36/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality74/100 · 2/3 factors with a value
- Returns· partial12/100 · 1/2 factors with a value
- Valuation66/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ANTERO RESOURCES CORPORATION (AR). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 5.3 bn USD in 2025; YoY growth 22.0%; net margin 21.7%; ROE 17.6%; net debt/EBITDA 0.9x.
The estimated value range is 31.54–48.41 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 43.38 USD, the price of 36.38 USD leaves a potential of 19.2% (value / price − 1) and a margin of safety of 16.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 43/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 14.1%
- P/E (TTM): 8.2x
What contradicts it
- Revenue CAGR 3Y: -9.6%
- EPS CAGR 3Y: -29.1%
- Current ratio: 0.4x
- Shareholder yield (distributions): 0.8%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Interest coverage, FCF yield, Payout ratio (FCF).
Versus the vertical median
Crude Petroleum & Natural Gas (SIC 1311) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SHELShell plc | 569.7 bn | 31.9 | 10.1% | 6.7% | −6.1% | +36% / +52% |
| EOGEog Resources, Inc. | 75.1 bn | 9.4 | 25.8% | 27.5% | −4.5% | +34% / +18% |
| OXYOccidental Petroleum Corporation | 56.3 bn | 8.5 | 18.9% | 33.7% | −1.9% | +34% / −5% |
| FANGDiamondback Energy, Inc. | 50.1 bn | 24.5 | 5.3% | 11.0% | +35.8% | +18% / +16% |
| DVNDevon Energy Corp | 47.2 bn | 10.2 | 11.5% | 16.7% | +7.8% | +16% / −5% |
| WDSWoodside Energy Group Ltd | 40.8 bn | 15.1 | 7.6% | 20.9% | −1.5% | +31% / +5% |
| EQTEqt Corporation | 31.7 bn | 12.0 | 10.9% | 28.4% | +63.9% | −17% / +27% |
| EXEExpand Energy Corporation | 19.7 bn | 7.4 | 14.6% | 19.8% | +186.3% | −30% / +6% |
| PRPermian Resources Corporation | 17.9 bn | 11.1 | 14.3% | 25.0% | +1.3% | +47% / +62% |
| OVVOvintiv Inc. | 16.4 bn | 12.3 | 12.1% | 12.8% | −2.7% | +49% / +37% |
| APAApa Corporation | 14.6 bn | 7.1 | 33.0% | — | unavailable | +74% / +21% |
| ARAntero Resources Corporation | 11.2 bn | 8.2 | 17.6% | 21.7% | +22.0% | +11% / +26% |
| MGYMagnolia Oil & Gas Corp | 6.3 bn | 14.5 | 13.8% | 25.8% | −0.3% | +2% / +9% |
| VISTVista Energy, S.A.B. de C.V. | 5.5 bn | 12.4 | 33.3% | 29.0% | +41.0% | +17% / +86% |
| MURMurphy Oil Corporation | 5.2 bn | 11.3 | 8.9% | 15.0% | −10.2% | +13% / −15% |
| CRCCalifornia Resources Corp | 4.0 bn | — | -15.5% | -18.1% | +14.7% | −5% / −11% |
| GPORGulfport Energy Corp | 2.7 bn | 6.0 | 25.9% | 31.7% | +48.5% | −30% / +13% |
| BKVBkv Corporation | 2.0 bn | 8.6 | 10.9% | 15.6% | +9.9% | −34% / unavailable |
| DMLPDorchester Minerals, L.P. | 1.4 bn | 13.2 | — | 49.8% | −5.4% | +24% / −6% |
| KOSKosmos Energy Ltd. | 1.3 bn | — | -58.8% | -27.4% | −23.1% | +96% / −68% |
| TBNTamboran Resources Corporation | 981.3 m | — | -4.8% | — | unavailable | +18% / unavailable |
| GRNTGranite Ridge Resources, Inc. | 616.2 m | — | -8.8% | -9.3% | +18.5% | −9% / −21% |
| WTIW&T Offshore, Inc. | 483.3 m | — | — | -8.4% | −4.5% | +76% / −7% |
| KRPKimbell Royalty Partners, LP | 403.4 m | 4.2 | — | 27.8% | +7.9% | +21% / −2% |
| PNRGPrimeEnergy Resources Corporation | 286.2 m | 17.5 | 11.7% | 13.9% | −20.5% | −2% / +69% |
1- and 3-year price returns: for AR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 19.94 Total return -45% · Per year -45% | 35.42 Total return -3% · Per year -3% | 53.60 Total return 47% · Per year 47% |
| 3 years | 15.83 Total return -56% · Per year -24% | 31.97 Total return -12% · Per year -4% | 53.60 Total return 47% · Per year 14% |
| 5 years | 12.57 Total return -65% · Per year -19% | 28.85 Total return -21% · Per year -5% | 53.60 Total return 47% · Per year 8% |
- Exit P/E± 7.99
- Net margin± 5.59
- Annual revenue growth± 5.05
- Annual dilution± 0.47
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
In brief
Antero Resources is an independent natural gas producer in the Appalachian Basin, focused on Marcellus and Utica shales and associated liquids. After the HG Energy acquisition, closed in February 2026, production reached a company record in the second quarter of 2026, and the company raised its 2026 production guidance. The current interest comes from the planned cost reduction and the acquisition's effect on cash flow, which could change the company's volatility profile if integration proceeds as planned.
SWOT
Strengths
- Consolidated position in the Appalachian Basin, with large proved reserves and a multi-year drilling inventory, plus record production in the second quarter of 2026.
- Lower cash operating costs and the HG Energy integration give a base for better margins.
- Liquids diversification and the hedging strategy could reduce cash flow volatility.
Weaknesses
- High exposure to natural gas prices, with realized prices below Henry Hub in the Appalachian Basin.
- Higher debt after acquisitions, with borrowings that must be repaid over a relatively short horizon.
- A significant part of net leasehold acreage is undeveloped, which could limit future production.
Opportunities
- Marcellus acquisitions and development of additional acreage could push production above guidance.
- Dry gas development and long lateral wells could improve returns per drilling location.
- Share repurchases and debt reduction could support shareholder value if cash flow grows.
Threats
- Natural gas and NGL prices could stay low for an extended period, which could lead to asset write-downs.
- Markets could become unstable because of supply and demand imbalances or geopolitical conflicts.
- Regulatory changes and taxes could raise production and compliance costs.
Risks
- Commodity price volatilityhigh
Natural gas, NGL and oil prices depend on factors largely outside the company's control, and a prolonged decline could reduce revenue and cash flow 1.
- Asset impairment riskhigh
If prices fall far enough, the carrying value of properties could be written down, which would hit net income in those periods 1.
- Undeveloped reservesmedium
A large share of proved reserves is undeveloped, and cost overruns or delays could make some projects uneconomic 1.
- Hedging effectsmedium
Hedges can limit the benefit of price increases, and hedge counterparties could fail to perform 1.
- Acquisition integrationmedium
Integrating HG Energy and the cost reduction plan could delay or reduce the benefits the company expects 3.
Investment thesis
What would need to be true (bull case)
- Record second-quarter production and raised 2026 guidance suggest a stronger operating base after the acquisitions 3.
- If the cash cost reduction of 0.70 USD per Mcfe is achieved, margins could rise significantly 3.
- The reversion of the Martica overriding royalty interests could add cash flow in the quarters ahead 3.
What to watch
- Realizarea obiectivului de reducere a costurilor cash2028
- Delivery of the cash cost reduction target2028
- Production against the revised 2026 guidanceQ3 2026
- Effect of hedges and gas prices on cash flowQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
The business
The 2026 acquisitions changed the scale of the business. The HG Production acquisition from HG Energy, valued at 2.8 bn USD in cash, brought assets in the core of the Marcellus in West Virginia and closed on February 3, 2026 1. At the same time, the company sold its Utica Shale properties in Ohio for 800 mn USD in cash, a deal closed on February 23, 2026, with proceeds used to repay long-term debt 12. The company reports three segments: exploration and production, its equity method investment in Antero Midstream, and marketing 1.
Segments
Trends
Competitive position
Antero operates in the Appalachian Basin, where it competes with other natural gas producers targeting the same Marcellus and Utica shales. Competitive pressure shows up in sale prices, which remain below Henry Hub because of regional supply 1. The company's recent acquisitions are meant to strengthen its position in the Marcellus 3.
The competitive advantage the company describes rests on lower costs and liquids diversification, which could reduce its dependence on gas prices compared with more exposed producers 3. The size of its market share cannot be determined from the sources provided.
- Other Appalachian Basin producers
Natural gas producers competing for the same assets and regional market, as described in the risk factors of the annual report.
- Competing Marcellus producers
Companies active in the same Marcellus area of West Virginia where Antero is expanding.
- Utica gas producers
Companies active in the Utica basin in Ohio, an area Antero exited through a sale.
- NGL producers
Other producers competing in the C2 and C3+ liquids market into which Antero diversifies its revenue.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report28 Oct 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report23 Jun 2026Regulation FD disclosure
- Current report17 Jun 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report04 Jun 2026Shareholder vote · Financial statements and exhibits
- Current report12 May 2026Regulation FD disclosure
- Current report29 Apr 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Antero Resources Corporation · 11 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Antero Resources Corporation · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Antero Resources Corporation · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.