Equity Method Investment

9 Months Ended

Sep. 30, 2023

Equity Method Investment

Equity Method Investment

(5) Equity Method Investment

As of September 30, 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		58,986
Dividends from unconsolidated affiliate		(93,854)
Elimination of intercompany profit		34,549
Balance as of September 30, 2023 (1)	$	220,110

(1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2022 and September 30, 2023 was $1.5 billion and $1.7 billion, respectively, based on the quoted market share price of Antero Midstream.