Financial Instruments

9 Months Ended

Sep. 30, 2017

Financial Instruments

Financial Instruments

(8)Financial Instruments

The carrying values of accounts receivable and accounts payable at December 31, 2016 and September 30, 2017 approximated market values because of their short-term nature.  The carrying values of the amounts outstanding under the Prior Credit Facility and Prior Midstream Facility at December 31, 2016 and September 30, 2017 approximated fair value because the variable interest rates are reflective of current market conditions.

Based on Level 2 market data inputs, the fair value of Antero’s senior notes was approximately $3.5 billion at December 31, 2016 and September 30, 2017.  Based on Level 2 market data inputs, the fair value of Antero Midstream’s senior notes was approximately $657 million at December 31, 2016 and $676 million at September 30, 2017.

See Note 9 for information regarding the fair value of derivative financial instruments.