Contract Disputes Overshadow Antero's Solid Execution in 3Q
No-moat-rated Antero Resources delivered production of 2,316 million cubic feet equivalent per day in the third quarter, 5% higher sequentially and 23% higher year over year. This compares with our forecast of 2,332 mmcfe/d and puts the firm on track to average 2,250-2,300 mmcfe/d in 2017 per guidance (our updated forecast is 2,273 mmcfe/d). Management reiterated plans to increase production at a 20% compound annual rate through 2020 and now believes it can do so with less capital than previousl...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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