Antero Produces Natural Gas and NGLs in Ohio and West Virginia
We have reduced our fair value estimate to $14 per share for Antero Resources after refreshing our outlook for short-term commodity prices. To be clear, there is no change to our terminal price forecasts of $55 per barrel for West Texas Intermediate crude and $3/bbl for natural gas. However, our methodology incorporates strip prices for the first three forecast years, and the steep dip in crude prices since our last update is enough to dampen our valuation. The firm has a relatively high exposur...Antero Resources is an oil and natural gas company engaged in the exploration, development and production of natural gas, natural gas liquids (NGLs), and oil properties. The company focuses on unconventional reservoirs, which can generally be characterized as fractured shale formations. The company's drilling operations are focused in the Marcellus Shale and Utica Shale of the Appalachian Basin. The company's industry segments are: the exploration, development, and production of natural gas, NGLs, and oil; marketing of excess firm transportation capacity; and the gathering and processing of natural gas. All of the company's operations are conducted in the United States.
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