Antero Resources — Jul 30, 2025 release

  Highlights:   · Net production averaged 3.4 Bcfe/d o Natural gas production averaged 2.2 Bcf/d o Liquids production averaged 200 MBbl/d · Realized a pre-hedge natural gas equivalent price of $3.85 per Mcfe, which is a $0.41 per Mcfe premium to NYMEX · Realized a pre-hedge C3+ NGL price of $37.92 per barrel · Net income was $157 million and Adjusted Net Income was $110 million (Non-GAAP) · Adjusted EBITDAX was $379 million (Non-GAAP) and net cash provided by operating activities was $492 million, increases of 151% and 243% compared to the prior year period, respectively · Free Cash Flow was $262 million (Non-GAAP) · Net Debt during the quarter was reduced by $187 million, to $1.1 billion (Non-GAAP) · Purchased 3.6 million shares for approximately $126 million from April 1 st through July 30 th · Published Antero’s Annual ESG Report highlighting emissions reduction progress and significant local economic impacts   2025 Full-Year Guidance Highlights:   · Increasing production guidance to 3.4 to 3.45 Bcfe/d, driven by strong well performance · Decreasing drilling and completion capital guidance to $650 to $675 million, due to continuing capital efficiency gains   Paul Rady, Chairman, CEO and President of Antero Resources commented, “For the second consecutive year we increased production guidance, while also reducing our drilling and completion capital budget. This reflects continued strong well performance combined with improving on our peer leading capital efficiency.”   Mr. Rady continued, “Looking ahead, natural gas demand is expected to grow by more than 25% by 2030 driven by LNG export growth and increasing power demand fueled by AI Data Centers. With firm transportation capacity to the Gulf Coast LNG corridor and over 20 years of premium drilling inventory, Antero is uniquely positioned to benefit from both the significant new LNG capacity and the strong regional power demand growth that is anticipated by the end of the decade.”   Michael Kennedy, CFO of Antero Resources said, “Our best-in-class low maintenance capital requirements allows us to generate substantial Free Cash Flow in 2025. During the second quarter, we used this Free Cash Flow to pay down