Antero Announces Higher 2016 and 2017 Production Guidance, and Lower Unit Costs
Antero now expects its production to average 1,800 million cubic feet equivalent per day in 2016, an increase of 3% relative to prior guidance. Although the increase is clearly a positive for investors our previous model was calling for an average of 1,860 mmcfe/d this year, and that now looks optimistic. But the slightly negative impact on our valuation was more than offset by further reductions in unit production costs, which are now expected to average $1.40-$1.50/mcfe over the year (an impro...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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