Antero Resources
| Company type | Public |
|---|---|
| Industry | Hydrocarbon exploration |
| Founded | 2002 |
| Founder | Paul M. Rady, Glen C. Warren, Jr. |
| Headquarters | Denver, Colorado , United States |
Area served | Appalachian Basin |
| Products | Natural gas, ethane, natural gas liquids, petroleum |
Antero Resources Corporation is a U.S.-based hydrocarbon exploration firm incorporated in Delaware with its main office located in Denver, Colorado. The company's entire reserve portfolio lies within the Appalachian Basin, consisting of 92% in the Marcellus Shale and 8% in the Utica Shale, both developed through hydraulic fracturing techniques.
As of December 31, 2021, Antero reported estimated proved reserves comprising 61% natural gas, 21% ethane, 17% natural gas liquids, and 1% petroleum. It holds the position of 672nd on the Fortune 500 list.
History
Established in 2002 by Paul M. Rady and Glen C. Warren, Jr. following the sale of Pennaco Energy to Marathon Oil, Antero secured more than $1.5 billion in funding from Warburg Pincus beginning in 2003, which at one time maintained a controlling interest.
In 2005, the company divested its Barnett Shale holdings to XTO Energy. Antero went public in October 2013 through an initial public offering (IPO) that generated $1.5 billion in proceeds.
November 2014 saw the spin-off of 30% of its midstream assets into Antero Midstream Partners LP via IPO. Subsequently, in September 2015, it transferred ownership of its integrated water business to this midstream entity for $1.05 billion.
Antero further grew its presence in the Appalachian Basin by purchasing Marcellus Shale properties from Statoil for $96 million in August 2016 and acquiring Utica Shale assets from Rex Energy for $30 million in January 2017.