Raising FVE for Antero on Stronger Outlook for NGLs
Antero Resources is heavily exposed to the prices of natural gas liquids, which account for 25% of its production and 34% of its hydrocarbon sales revenue. In the first quarter, Antero produced 34 thousand barrels per day of ethane and 63 mbbl/d of C3+ NGLs, making it is the largest domestic producer. And it received an average price of $26.85 for these products, putting it ahead of its peers on pricing as well (our coverage reported an average of $25.43/bbl in the same period, with other large ...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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