Quarterly ResultApr 29, 2026, 04:46 PM
AR Q1 Net Income $535.2M; Acquires HG Production for $2.8B; Sells Utica Shale for $800M
AI Summary
Antero Resources (AR) reported a significant increase in net income for Q1 2026 to $535.2 million, up from $208.0 million in Q1 2025, with total revenue reaching $1.95 billion. This quarter was marked by major strategic transactions, including the acquisition of HG Energy II Production Holdings, LLC for $2.8 billion, adding 385,000 net acres in the Marcellus Shale. Concurrently, the company divested its Utica Shale oil and gas assets for $800 million, resulting in a $46 million gain on sale.
Key Highlights
- AR acquired HG Energy II Production Holdings, LLC for $2.8 billion cash on February 3, 2026.
- AR divested its Utica Shale oil and gas assets for $800 million cash on February 23, 2026, recognizing a $46 million gain.
- Net income attributable to AR for Q1 2026 was $535.2 million, up from $208.0 million in Q1 2025.
- Total revenue for Q1 2026 increased to $1.95 billion, compared to $1.35 billion in Q1 2025.
- Basic EPS for Q1 2026 was $1.73, up from $0.67 in Q1 2025.
- Long-term debt increased to $2.66 billion as of March 31, 2026, from $1.40 billion as of December 31, 2025.
- Cash provided by operating activities was $859.1 million in Q1 2026, up from $457.7 million in Q1 2025.
- Fair value of investment in Antero Midstream was $3.2 billion as of March 31, 2026.