Income Statement Image
v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue and other:        
Revenue $ 1,308,260 $ 652,219 $ 2,678,424 $ 1,402,693
Commodity derivative fair value losses (831,840) (168,015) (1,009,596) 397,818
Amortization of deferred revenue, VPP 11,279   22,429  
Gain on sale of assets 2,288   2,288  
Total revenue 489,368 484,911 1,693,566 1,802,016
Operating expenses:        
Production and ad valorem taxes 33,694 19,992 78,391 45,691
Impairment of oil and gas properties 9,303 37,350 43,365 126,570
Depletion, depreciation, and amortization 187,330 214,035 381,356 413,712
Accretion of asset retirement obligations 1,331 1,111 2,119 2,215
General and administrative 32,177 38,403 76,251 69,624
Contract termination and rig stacking 844 11,071 935 11,071
Total operating expenses 1,132,318 1,091,833 2,241,976 2,146,505
Operating loss (642,950) (606,922) (548,410) (344,489)
Other income (expense):        
Equity in earnings of unconsolidated affiliate 17,477 20,228 36,171 (107,827)
Transaction expense (185) (6,138) (2,476) (6,138)
Interest expense, net (49,963) (51,811) (92,706) (104,913)
Gain (loss) on early extinguishment of debt (23,065) 39,171 (66,269) 119,732
Loss on convertible note equitization (11,731)   (50,777)  
Impairment of equity method investment       (610,632)
Total other income (expense) (67,467) 1,450 (176,057) (709,778)
Loss before income taxes (710,417) (605,472) (724,467) (1,054,267)
Provision for income tax benefit 175,966 142,404 178,912 252,389
Net loss and comprehensive loss including noncontrolling interests (534,451) (463,068) (545,555) (801,878)
Less: net income (loss) and comprehensive income (loss) attributable to noncontrolling interests (10,984) 236 (6,589) 236
Net loss and comprehensive loss attributable to Antero Resources Corporation $ (523,467) $ (463,304) $ (538,966) $ (802,114)
Loss per share-basic (in dollars per share) $ (1.70) $ (1.73) $ (1.78) $ (2.90)
Loss per share-diluted (in dollars per share) $ (1.70) $ (1.73) $ (1.78) $ (2.90)
Weighted average number of shares outstanding:        
Basic (in shares) 307,879 268,386 302,343 276,306
Diluted (in shares) 307,879 268,386 302,343 276,306
Natural gas sales        
Revenue and other:        
Revenue $ 626,520 $ 367,415 $ 1,346,889 $ 778,497
Natural gas liquids sales        
Revenue and other:        
Revenue 464,381 212,197 904,700 469,870
Oil sales        
Revenue and other:        
Revenue 51,906 8,322 96,592 43,968
Gathering, compression, processing, and transportation        
Operating expenses:        
Cost of goods and services sold 641,362 631,845 1,246,439 1,220,469
Marketing        
Revenue and other:        
Revenue 165,453 64,285 330,243 110,358
Operating expenses:        
Cost of goods and services sold 198,994 113,053 361,071 206,326
Other income (loss)        
Revenue and other:        
Revenue (619) 707 21 1,505
Lease operating        
Operating expenses:        
Cost of goods and services sold 21,645 24,742 46,192 50,386
Exploration        
Operating expenses:        
Cost of goods and services sold $ 5,638 $ 231 $ 5,857 $ 441

Source