Antero Resources raises production guidance and capital budget

Antero Resources (NYSE:AR) raises its FY 2014 production guidance to 990M-1.01B cfe/day, up 5% from the midpoint of previously announced guidance.

AR estimates H2 production will average 1.16B cfe/day, up 9% from the midpoint of previously estimated H2 production; also, AR raises its 2015 production target to 1.5B cfe/day from 1.4B previously and raises its 2016 target to 2.2B cfe/day from a previous 2.1B.

Also increases its 2014 capital budget to $3.7B, which includes $2.4B for drilling and completion, and anticipates averaging 21 rigs in 2015 with plans to maintain a stable drilling and completion budget of $2.3B-$2.5B.

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