Antero Resources — Jul 29, 2026 release

  Highlights:     ● Net production was a company record and above guidance at over 4.1 Bcfe/d, an increase of 21% from the year ago period   ● Net income was $279 million and Adjusted Net Income was $236 million (Non-GAAP)   ● Adjusted EBITDAX was $595 million (Non-GAAP), an increase of 57% compared to the prior year period   ● Net cash provided by operating activities was $439 million   ● Total cash operating costs were at the low end of the guidance range at $2.38 per Mcfe, a decrease of $0.29 per Mcfe, or 11%, from the year ago period   ● Adjusted Free Cash Flow before changes in working capital was $220 million (Non-GAAP), an increase of 41% compared to the year ago period   ● Purchased 1.1 million shares for approximately $38 million during the quarter   ● Completed $315 million of strategic acquisitions in July 2026 in Antero’s core Marcellus footprint, including 125 MMcfe/d of net production and 15 net drilling locations   ● Reversion of the overriding royalty interests results in an expected $60 million increase in annualized future cash, or a $0.04 per Mcfe margin uplift   2026 Guidance Updates:     ● Increasing production guidance to a range of 4.15 to 4.2 Bcfe/d for the full year 2026   ● Increasing C2 NGL realized price premium to Mont Belvieu to $2.50 to $3.00 per Bbl   ● Decreasing cash production expense guidance to a range of $2.20 to $2.30 per Mcfe   ● Decreasing the realized natural gas price premium to NYMEX to a range of $0.05 to $0.15 per Mcfe   Michael Kennedy, CEO and President of Antero Resources commented, “The second quarter of 2026 reflects the first full quarter following our acquisition of HG Energy. Our quarterly results highlight the substantial benefits from this transaction. Our production base increased by more than 20% from a year ago and our cost structure declined by over 10%. In combination with the strategic acquisitions we completed this July, we expect our per unit costs to continue to decline into year end. Further, while the region’s gross production has remained flat, net production to Antero is expected to exit the year over 25% higher than the prior year.”   Mr. Kennedy continued, “Our improved competitive position provides us with great visibility and confidence in our Free Cash Flow, which supported the accelerated timing of our share repurchase program. During the second quarter we purchased 1.1 million shares for $38 million and we plan to continue being countercyclical with our buybacks when we see opportunities.”   Brendan Krueger, CFO of Antero Resources said, “Our