Antero Resources — Apr 29, 2026 release

The impressive operational and financial achievements mentioned above led to realizations for natural gas, NGLs and ethane all coming in ahead of expectations during the quarter. This allowed us to reduce debt related to the HG acquisition ahead of our previously communicated targets. Importantly, as a result of the transactions, we expect our net production to increase by approximately 700 MMcfe/d on an annual basis. Additionally, the HG acquisition added 385,000 net acres and 400 drilling locations, while only increasing our Net Debt by $1.5 billion from the year-end 2025 level.”   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     Cash Cost Reduction   Antero expects cash production expense for the remainder of 2026 to be $2.20 to $2.30 per Mcfe. This reduced range reflects a $0.25 per Mcfe, or 10% reduction from the full-year average in 2025 and a $0.39 per Mcfe, or 15% reduction from the first quarter of 2026. Inclusive of G&A and net marketing expense the total cost reduction is expected to be $0.30 per Mcfe. The production and development of the HG assets are expected to result in cash production expenses remaining in that range going forward, assuming current natural gas strip pricing.   Second Quarter and Full-Year 2026 Guidance Update   Antero expects second quarter production to average 4.1 Bcfe/d, a 6% increase from the first quarter of 2026, driven by a full quarter of production fro