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Commitments
9 Months Ended
Sep. 30, 2016
Commitments  
Commitments

(13)Commitments

 

The following is a schedule of future minimum payments for firm transportation, drilling rig and completion services, processing, gathering and compression, and office and equipment agreements, as well as leases that have remaining lease terms in excess of one year as of September 30, 2016 (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Firm
transportation

  

Processing,
gathering and
compression

  

Drilling rigs and completion
services

  

Office and equipment

  

 

 

 

 

(a)

 

(b)

 

(c)

 

(d)

 

Total

 

Remainder of 2016

 

$

119

 

 

88

 

 

27

 

 

3

 

 

237

 

2017

 

 

709

 

 

370

 

 

101

 

 

13

 

 

1,193

 

2018

 

 

935

 

 

286

 

 

98

 

 

12

 

 

1,331

 

2019

 

 

1,086

 

 

230

 

 

60

 

 

9

 

 

1,385

 

2020

 

 

1,105

 

 

230

 

 

 —

 

 

7

 

 

1,342

 

2021

 

 

1,084

 

 

224

 

 

 —

 

 

7

 

 

1,315

 

Thereafter

 

 

10,469

 

 

951

 

 

 —

 

 

25

 

 

11,445

 

Total

 

$

15,507

 

 

2,379

 

 

286

 

 

76

 

 

18,248

 

 

(a) Firm Transportation

 

The Company has entered into firm transportation agreements with various pipelines in order to facilitate the delivery of its production to market.  These contracts commit the Company to transport minimum daily natural gas or NGLs volumes at negotiated rates, or pay for any deficiencies at specified reservation fee rates.  The amounts in this table are based on the Company’s minimum daily volumes at the reservation fee rate.  The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.

 

(b) Processing, Gathering, and Compression Service Commitments

 

The Company has entered into various long‑term gas processing agreements for certain of its production that will allow it to realize the value of its NGLs.  The minimum payment obligations under the agreements are presented in the table.

 

The Company has various gathering and compression service agreements with third parties that provide for payments based on volumes gathered or compressed.  The minimum payment obligations under these agreements are presented in the table.

 

The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.  The values in the table also include Antero Midstream’s commitments for the construction of its advanced waste water treatment complex.  The table does not include intracompany commitments.

 

(c) Drilling Rig Service Commitments

 

The Company has obligations under agreements with service providers to procure drilling rigs and completion services.  The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.

 

(d) Office and Equipment Leases

 

The Company leases various office space and equipment, as well as field equipment, under capital and operating lease arrangements.