Antero Resources — Oct 30, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-24-112650
Showing in the filing
D&C Capital Expenditures
“$650”
Period
FY2024
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 6
D&C Capital Expenditures - Low (Revised) for FY2024
“$ 640”
D&C Capital Expenditures - High (Revised) for FY2024
“$ 660”
Maintenance production level
“3.3 to 3.4 Bcfe/d”
Production
“3.3 to 3.4 Bcfe/d”
Drilling and completion capital budget for FY2024
“$640 million to $660 million”
D&C Capital Expenditures for FY2024
“$650”
Exhibit 99.1 · the passage around this item
… earlier in the release
The decrease is driven by continued
operational efficiency gains and the further deferral of completion activity due to low natural gas prices.
Full Year 2024 –
Full Year 2024 –
Initial
Revised
Full Year 2024 Guidance
Low
High
Low
High
D&C Capital Expenditures
$ 650
$ 700
$ 640
$ 660
Note: Any 2024 guidance items not
discussed in this release are unchanged from previously stated guidance.
Free Cash Flow
During the third quarter of 2024, the Free Cash
Flow deficit was $19 million.
Three Months Ended
September 30,
2023
2024
Net cash provided by operating activities
$ 183,381
166,177
Less: Net cash used in investing activities
(276,097 )
(174,126 )
Less: Proceeds from sale of assets, net
(136 )
(7,066 )
Less: Distributions to non-controlling interests in Martica
(21,161 )
(15,736 )
Free Cash Flow
$ (114,013 )
(30,751 )
Changes in Working Capital (1)
90,755
12,222
Free Cash Flow before Changes in Working Capital
$ (23,258 )
(18,529 )
(1) Working capital adjustments include changes in current assets and liabilities and the net decrease in accounts payable and accrued
liabilities for additions to property and equipment.
Third Quarter 2024 Financial Results
Net
daily natural gas equivalent production in the third quarter av
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.