Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2024

Reportable Segments

Schedule of operating results and assets of reportable segments

The operating results and assets of the Company’s reportable segments were as follows (in thousands):

	Three Months Ended September 30, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	1,072,562		53,068		383		(383)		1,125,630
Intersegment		546		—		263,456		(263,456)		546
Total revenue		1,073,108		53,068		263,839		(263,839)		1,126,176
Operating expenses:
Lease operating		33,484		—		—		—		33,484
Gathering, compression, processing, transportation and water handling		671,886		—		51,914		(51,914)		671,886
General and administrative		58,425		—		17,633		(17,633)		58,425
Depletion, depreciation and amortization		176,259		—		30,745		(30,745)		176,259
Impairment of property and equipment		13,476		—		—		—		13,476
Other		47,372		69,542		1,234		(1,234)		116,914
Total operating expenses		1,000,902		69,542		101,526		(101,526)		1,070,444
Operating income (loss)	$	72,206		(16,474)		162,313		(162,313)		55,732
Equity in earnings of unconsolidated affiliates	$	22,207		—		27,397		(27,397)		22,207
Capital expenditures for segment assets	$	912,046		—		45,286		(45,286)		912,046

	Three Months Ended September 30, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	1,008,182		47,160		397		(397)		1,055,342
Intersegment		578		—		269,473		(269,473)		578
Total revenue		1,008,760		47,160		269,870		(269,870)		1,055,920
Operating expenses:
Lease operating		29,597		—		—		—		29,597
Gathering, compression, processing, transportation and water handling		685,183		—		51,724		(51,724)		685,183
General and administrative		54,627		—		22,872		(22,872)		54,627
Depletion, depreciation and amortization		170,197		—		32,534		(32,534)		170,197
Impairment of property and equipment		13,455		—		332		(332)		13,455
Other		46,620		62,144		(19)		19		108,764
Total operating expenses		999,679		62,144		107,443		(107,443)		1,061,823
Operating income (loss)	$	9,081		(14,984)		162,427		(162,427)		(5,903)
Equity in earnings of unconsolidated affiliates	$	25,634		—		27,668		(27,668)		25,634
Capital expenditures for segment assets	$	173,630		—		55,535		(55,535)		173,630

	Nine Months Ended September 30, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	3,331,130		155,390		929		(929)		3,486,520
Intersegment		1,309		—		780,672		(780,672)		1,309
Total revenue		3,332,439		155,390		781,601		(781,601)		3,487,829
Operating expenses:
Lease operating		91,553		—		—		—		91,553
Gathering, compression, processing, transportation and water handling		1,981,033		—		162,382		(162,382)		1,981,033
General and administrative		169,587		—		53,142		(53,142)		169,587
Depletion, depreciation and amortization		515,247		—		101,174		(101,174)		515,247
Impairment of property and equipment		44,746		—		—		—		44,746
Other		146,536		240,841		8,722		(8,722)		387,377
Total operating expenses		2,948,702		240,841		325,420		(325,420)		3,189,543
Operating income (loss)	$	383,737		(85,451)		456,181		(456,181)		298,286
Equity in earnings of unconsolidated affiliates	$	58,986		—		77,825		(77,825)		58,986
Capital expenditures for segment assets	$	912,046		—		130,025		(130,025)		912,046

	Nine Months Ended September 30, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Sales and revenues:
Third-party	$	3,009,995		145,098		1,482		(1,482)		3,155,093
Intersegment		1,752		—		817,234		(817,234)		1,752
Total revenue		3,011,747		145,098		818,716		(818,716)		3,156,845
Operating expenses:
Lease operating		88,477		—		—		—		88,477
Gathering, compression, processing, transportation and water handling		2,020,906		—		162,051		(162,051)		2,020,906
General and administrative		169,917		—		65,312		(65,312)		169,917
Depletion, depreciation and amortization		513,787		—		107,205		(107,205)		513,787
Impairment of property and equipment		18,958		—		332		(332)		18,958
Other		154,768		192,764		2,385		(2,385)		347,532
Total operating expenses		2,966,813		192,764		337,285		(337,285)		3,159,577
Operating income (loss)	$	44,934		(47,666)		481,431		(481,431)		(2,732)
Equity in earnings of unconsolidated affiliates	$	69,862		—		82,795		(82,795)		69,862
Capital expenditures for segment assets	$	588,464		—		134,007		(134,007)		588,464

The summarized assets of the Company’s reportable segments are as follows (in thousands):

	As of December 31, 2023
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	222,255		—		626,650		(626,650)		222,255
Total assets		13,602,297		17,117		5,737,618		(5,737,618)		13,619,414

	(Unaudited)
	As of September 30, 2024
					Equity Method
	Exploration				Investment in		Elimination of
	and				Antero		Unconsolidated		Consolidated
	Production		Marketing		Midstream		Affiliate		Total
Investments in unconsolidated affiliates	$	226,860		—		609,427		(609,427)		226,860
Total assets		13,211,758		11,860		5,777,451		(5,777,451)		13,223,618