Antero Resources — Feb 11, 2026 release

This larger production base and inventory positions Antero to capture the significant demand opportunities that are expected from LNG exports, data centers and natural gas fired power plants.”   Mr. Kennedy continued, “Our 2026 budget highlights these transformational changes as our production base increases from 3.4 Bcfe/d in 2025 to more than 4.2 Bcfe/d by year end 2026. We intend to run 3 drilling rigs and 2 completion crews, which provides us with the optionality to grow our production base further if supported by the commodity price backdrop and in basin demand opportunities.”   Brendan Krueger, CFO of Antero Resources added, “The closing of the HG Energy acquisition immediately improves our competitive positioning by significantly reducing our cost structure and increases our local dry gas exposure. These higher margins are hedged and are expected to drive a substantial increase in Adjusted Free Cash Flow and reduce leverage to under 1.0x during the year. We intend to remain focused on debt reduction and continuing to opportunistically repurchase shares.”   For a discussion of the non-GAAP financial measures including Adjusted Net Income, Adjusted EBITDAX, Adjusted Free Cash Flow and Net Debt, please see “Non-GAAP Financial Measures.”   1     Transaction Updates   The HG Energy acquisition closed in February 2026. The Ohio Utica Shale divestiture is expected to close by the end of February 2026. The timing of these transactions are reflected in the below 2026 guidance.   2026 Guidance   Antero’s 2026 drilling an