Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Equity-Based Compensation

Schedule of equity-based compensation expense

The Company’s equity‑based compensation expense, by type of award, is as follows for the years ended December 31, 2014, 2015, and 2016 (in thousands):

	Year ended December 31,
	2014		2015		2016
Profits interests awards	$	83,615		37,620		—
Restricted stock unit awards		25,624		40,663		73,081
Stock options		501		2,155		2,578
Performance share unit awards		—		—		8,685
Antero Midstream phantom unit awards		2,360		17,126		16,095
Equity awards issued to directors		152		313		1,982
Total expense	$	112,252		97,877		102,421

Summary of restricted stock and restricted stock unit awards activity

		Weighted average		Aggregate
	Number of shares	grant date fair value		intrinsic value (in thousands)
Total awarded and unvested—December 31, 2015	6,529,459	$	33.48	$	142,342
Granted	1,241,710	$	27.06
Vested	(2,123,282)	$	34.95
Forfeited	(294,440)	$	26.89
Total awarded and unvested—December 31, 2016	5,353,447	$	31.77	$	126,609

Summary of stock option activity

				Weighted
		Weighted average		average remaining	Intrinsic
	Stock options	exercise price		contractual life	value (in thousands)
Outstanding at December 31, 2015	720,887	$	50.44	9.14	$	—
Granted	—	$	—
Exercised	—		—
Forfeited	(32,958)	$	50.00
Expired	—		—
Outstanding at December 31, 2016	687,929	$	50.46	8.12	$	—
Vested or expected to vest as of  December 31, 2016	687,929	$	50.46	8.12	$	—
Exercisable at December 31, 2016	217,882	$	51.17	7.87	$	—

Schedule of weighted average fair value assumptions used for stock options

	Year ended December 31, 2014			Year ended December 31, 2015
Dividend yield		—	%		—	%
Volatility		40	%		40	%
Risk-free interest rate		1.75	%		1.66	%
Expected life (years)		5.50			6.25
Weighted average fair value of options granted	$	20.55		$	14.74

Summary of Performance Stock Unit activity

A summary of PSU activity for the year ended December 31, 2016 is as follows:

	Number of units	Weighted average grant date fair value
Total awarded and unvested—December 31, 2015	—	$	—
Granted	790,890	$	29.77
Vested	—	$	—
Forfeited	(5,589)	$	32.97
Total awarded and unvested—December 31, 2016	785,301	$	29.75

Schedule of weighted average fair value assumptions used for PSUs granted

	Year ended December 31, 2016
Dividend yield		—	%
Volatility		45	%
Risk-free interest rate		1.01	%
Weighted average fair value of awards granted	$	29.77

Schedule of outstanding unvested restricted stock awards vesting schedule

	Number of units	Weighted average grant date fair value		Aggregate intrinsic value (in thousands)
Total awarded and unvested—December 31, 2015	1,667,832	$	28.97	$	38,060
Granted	297,356	$	21.41
Vested	(524,659)	$	28.95
Forfeited	(108,568)	$	28.66
Total awarded and unvested—December 31, 2016	1,331,961	$	27.31	$	41,131