Antero Resources — Jul 29, 2026 release

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, 2026 Antero dissolved the Martica override entity. The Martica transaction was entered into in 2020 and included overriding royalty interests in Antero’s development program. Following return thresholds being achieved in the second quarter of 2026, these overriding royalty interests reverted to Antero. This is expected to result in a $60 million increase in annualized cash flow to Antero, or a $0.04 per Mcfe margin uplift, commencing in the third quarter of 2026.   Cash Cost Reduction Initiative   In June 2026, Antero announced a cash cost reduction initiative.