- Antero Resources (NYSE:AR) says it plans a capital budget of $1.5B for 2017, roughly flat vs. the prior year, but expects net production to rise 20%-25% Y/Y from 2016 guidance of 1.8B cfe/day.
- AR says it plans to operate an average of seven drilling rigs between the Marcellus and Utica Shale plays, complete 170 horizontal wells and exit the year with 30 drilled but uncompleted wells; it is targeting a compound annual growth rate of 20%-22% for net production during 2018-20.
- Supported by AR's long-term production growth target, Antero Midstream Partners (AM) announces a long-term distribution growth target of 28%-30% per year through 2020.
- AM forecasts a 2017 capital budget of $525M, up 9% Y/Y; distributable cash flow is seen at $395M-$435M with coverage of 1.3x-1.45x.