Subsidiary Guarantors

3 Months Ended

Mar. 31, 2024

Subsidiary Guarantors

Subsidiary Guarantors

(17) Subsidiary Guarantors

Antero Resources’ senior notes are fully and unconditionally guaranteed by Antero Resources’ existing subsidiaries that guarantee the Credit Facility.  In the event a subsidiary guarantor is sold or disposed of (whether by merger, consolidation, the sale of a sufficient amount of its capital stock so that it no longer qualifies as a “Subsidiary” of Antero (as defined in the indentures governing the notes) or the sale of all or substantially all of its assets (other than by lease)) and whether or not the subsidiary guarantor is the surviving entity in such transaction to a person that is not Antero or a restricted subsidiary of Antero, such subsidiary guarantor will be released from its obligations under its subsidiary guarantee if the sale or other disposition does not violate the covenants set forth in the indentures governing the notes.

In addition, a subsidiary guarantor will be released from its obligations under the indentures and its guarantee (i) upon the release or discharge of the guarantee of other Indebtedness (as defined in the indentures governing the notes) that resulted in the creation of such guarantee, except a release or discharge by or as a result of payment under such guarantee, (ii) if Antero designates such subsidiary as an unrestricted subsidiary and such designation complies with the other applicable provisions of the indentures governing the notes or (iii) in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the notes.

The tables set forth below present summarized financial information of Antero, as parent, and its guarantor subsidiaries (in thousands). The Company’s wholly owned subsidiaries are not restricted from making distributions to the Company.

Balance Sheets
			(Unaudited)
	December 31, 2023		March 31, 2024
Accounts receivable, non-guarantor subsidiaries	$	—		2,097
Other current assets		453,581		382,957
Total current assets		453,581		385,054
Noncurrent assets		12,562,439		12,575,551
Total assets	$	13,016,020		12,960,605
Accounts payable, related parties	$	86,284		93,707
Other current liabilities		1,360,102		1,282,960
Total current liabilities		1,446,386		1,376,667
Noncurrent liabilities		4,951,464		4,893,715
Total liabilities	$	6,397,850		6,270,382
Statement of Operations
			Three Months Ended
			March 31, 2024
Revenues			$	1,099,934
Operating expenses				1,046,716
Income from operations				53,218
Net income and comprehensive income including noncontrolling interests				36,345
Net income and comprehensive income attributable to Antero Resources Corporation			$	36,345