Antero Resources — Jul 29, 2026 release

This was highlighted through our second quarter 2026 results where the Henry Hub natural gas price declined 16% from the year ago period, while our adjusted EBITDAX increased 57%.”   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     2026 Guidance Update   Antero is increasing its full year 2026 production guidance to a range of 4.15 to 4.2 Bcfe/d, to reflect strong performance year-to-date and the acquisitions made in July 2026. Antero is forecasting 5 Bcfe of curtailments in the third quarter of 2026 and expects third quarter production to average 4.25 to 4.3 Bcfe/d with fourth quarter production increasing to an average of 4.4 to 4.5 Bcfe/d.   Cash production expense guidance was lowered to a range of $2.20 to $2.30 per Mcfe, reflecting the HG Energy integration and optimization of firm transportation agreements. Realized natural gas price premium to NYMEX was lowered primarily to reflect the optimization of the firm transportation arrangements.   Revised 2026 Guidance   Low     High   Net Daily Natural Gas Equivalent Production (Bcfe/d)     4.15       4.2   Cash Production Expense ($/Mcfe)   $ 2.20     $ 2.30   Natural Gas Realized Price Premium vs. NYMEX Henry Hub ($/Mcf)   $ 0.05     $ 0.15   C2 NGL Realized Price Premium to Mont Belvieu ($/Bbl)   $ 2.50     $ 3.00     Note: Any 2026 guidance items not discussed in this release are unchanged from previously stated guidance.   Strategic Updates   Antero acquired properties in its West Virginia development footprint for approximately $315 million. These acquired properties include approximately 125 MMcfe/d of net production and 3,500 net undeveloped acres supporting 15 net undeveloped locations.   On June 30, 2