Antero Resources routed after Q4 loss, dividend cut

Feb. 18, 2021 1:11 PM ETAntero Resources Corporation (AR), AMAR, AMBy: Carl Surran, SA News Editor82 Comments
  • Antero Resources (AR -8.4%) and Antero Midstream (AM -12.4%) plunge after the MLP announced a 27% reduction to its annual dividend.
  • Antero Resources posted a surprise Q4 adjusted loss, hurt by higher processing and transportation costs and a decline in realized liquids prices.
  • Q4 total production rose 15% Y/Y to 336B cfe from 293B cfe, with natural gas production - which accounts for two-thirds of total output - increased 10% to 226B cf.
  • Q4 weighted natural gas equivalent price realization was $2.96/Mcfe, in line with a year earlier, while average realized prices for natural gas rose 5% to $2.63/Mcf.
  • Antero alsoy announced a new $500M-$550M drilling partnership with QL Capital Partners to drill 60 incremental wells through 2024.

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