Equity Method Investment

9 Months Ended

Sep. 30, 2024

Equity Method Investment

Equity Method Investment

(5) Equity Method Investment

As of December 31, 2023 and September 30, 2024, Antero owned 29.0% and 28.9%, respectively, 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, 2023 (1)	$	222,255
Additional investments (2)		1,936
Equity in earnings of unconsolidated affiliate		69,862
Dividends from unconsolidated affiliate		(93,883)
Elimination of intercompany profit		26,690
Balance as of September 30, 2024 (1)	$	226,860

(1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2023 and September 30, 2024 was $1.7 billion and $2.1 billion, respectively, based on the quoted market share price of Antero Midstream.

(2) During the three months ended September 30, 2024, the Company received 0.1 million additional shares of Antero Midstream common stock as part of a judgment in a legal proceeding with an unaffiliated third-party.