Increased Production Guidance with Decreased CapEx
For the second consecutive year, Antero increased its production guidance by 5% while decreasing maintenance capital requirements by 26% from $900 million to $663 million.
Efficient Hedging Strategy
Antero added wide natural gas costless collars for 2026 with a floor price of $3.14 and a ceiling of $6.31, hedging approximately 20% of expected natural gas volumes through 2026.
Strong NGL Pricing and Export Performance
Antero's C3+ realizations improved year-over-year, averaging 59% of WTI. U.S. propane exports increased 6% year-over-year, averaging over 1.8 million barrels per day.
Strategic Share Repurchases and Debt Reduction
Antero executed $260 million of free cash flow, with nearly $200 million used to reduce debt and $150 million for share repurchases.
Positive LNG Market Trends
Venture Global's Plaquemines LNG facility reached a daily record feedgas of over 2.9 Bcf per day, with future LNG demand expected to increase by another 8 Bcf a day.