Equity Method Investment

3 Months Ended

Mar. 31, 2023

Equity Method Investment

Equity Method Investment

(5) Equity Method Investment

(a) Summary of Equity Method Investment

As of March 31, 2023, Antero owned 29.0% of Antero Midstream’s common stock, which is reflected in Antero’s unaudited condensed consolidated financial statements using the equity method of accounting.

The following table sets forth a reconciliation of Antero’s investment in unconsolidated affiliate (in thousands):

Balance as of December 31, 2022 (1)	$	220,429
Equity in earnings of unconsolidated affiliate		17,681
Dividends from unconsolidated affiliate		(31,285)
Elimination of intercompany profit		12,690
Balance as of March 31, 2023 (1)	$	219,515

(1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2022 and March 31, 2023 was $1.5 billion based on the quoted market share price of Antero Midstream.