The following is a summary of the Antero Resources Corporation (AR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Antero Resources Corporation demonstrated operational efficiency gains in 2024 with a quarterly record of 11.3 stages per day during Q1.

• Antero boasts the lowest capital cost of its peer group, at only $0.55 per Mcfe, significantly below the peer average of $0.90 per Mcfe.

• The company generated positive free cash flow in Q1 and anticipates maintaining this throughout the year.

• Antero has successfully reduced its debt to manageable levels and plans to utilize free cash flow to further decrease the credit facility balance.

Business Progress:

• The company has shown improvements in its operations in 2024, particularly in zipper swaps, which allow for efficient movement from well to well on a pad without downtime.

• Antero leverages Antero Midstream's water infrastructure, resulting in industry-leading water deliverability rates for its completions.

• With substantial exposure to liquids prices, Antero expects the surge in natural gas demand from LNG exports, Mexico exports, and power generation to boost its bottom line.

• The company has consolidated its operations and added 19 new locations in Q1 through a $26 million land investment, reflecting a commitment to organic growth.

• Antero is proactively engaged in environmental initiatives through its participation in Project Canary and has a long-term goal to further reduce emissions via a Ghana-based offset initiative.

• The commencement of a new LNG facility in Plaquemines in July could bring substantial benefits for Antero.

• By the first half of next year, the company plans to return to a 50-50 strategy of paying down debt and repurchasing shares, contingent on commodity prices' stability.

• A significant portion of Antero's production is sold to the LNG fairway in the Gulf Coast, which sets the company in a position to benefit from the anticipated higher prices at Antero's TGP 500 sales points.

More details: Antero Resources IR

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