Equity Method Investment

6 Months Ended

Jun. 30, 2025

Equity Method Investment

Equity Method Investment

(5) Equity Method Investment

As of December 31, 2024 and June 30, 2025, Antero owned 29% 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, 2024 (1)	$	231,048
Equity in earnings of unconsolidated affiliate		59,224
Dividends from unconsolidated affiliate		(62,628)
Elimination of intercompany profit		21,519
Balance as of June 30, 2025 (1)	$	249,163

(1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2024 and June 30, 2025 was $2.1 billion and $2.6 billion, respectively, based on the quoted market share price of Antero Midstream.