Income Statement Image
v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue and other:        
Revenue $ 1,772,415 $ 889,492 $ 4,450,839 $ 2,292,185
Commodity derivative fair value losses (1,250,466) (514,751) (2,260,062) (116,933)
Amortization of deferred revenue, VPP 11,404 5,175 33,833 5,175
Gain on sale of assets 539   2,827  
Other income 530 675 551 2,180
Total revenue 534,422 380,591 2,227,988 2,182,607
Operating expenses:        
Lease operating 25,363 21,450 71,555 71,836
Production and ad valorem taxes 52,219 25,790 130,610 71,481
Impairment of oil and gas properties 26,253 29,392 69,618 155,962
Depletion, depreciation, and amortization 182,810 238,418 564,166 652,130
Accretion of asset retirement obligations 828 1,115 2,947 3,330
General and administrative 32,442 31,640 108,693 101,264
Contract termination and rig stacking 3,370 1,246 4,305 12,317
Total operating expenses 1,218,496 1,134,700 3,460,472 3,281,205
Operating loss (684,074) (754,109) (1,232,484) (1,098,598)
Other income (expense):        
Interest expense, net (45,414) (48,043) (138,120) (152,956)
Equity in earnings of unconsolidated affiliate 21,450 24,419 57,621 (83,408)
Gain (loss) on early extinguishment of debt (16,567) 55,633 (82,836) 175,365
Transaction expense (626) (524) (3,102) (6,662)
Loss on convertible note equitization     (50,777)  
Impairment of equity method investment       (610,632)
Total other income (expense) (41,157) 31,485 (217,214) (678,293)
Loss before income taxes (725,231) (722,624) (1,449,698) (1,776,891)
Provision for income tax benefit 158,656 168,778 337,568 421,167
Net loss and comprehensive loss including noncontrolling interests (566,575) (553,846) (1,112,130) (1,355,724)
Less: net loss and comprehensive loss attributable to noncontrolling interests (17,257) (18,233) (23,846) (17,997)
Net loss and comprehensive loss attributable to Antero Resources Corporation $ (549,318) $ (535,613) $ (1,088,284) $ (1,337,727)
Loss per share-basic (in dollars per share) $ (1.75) $ (1.99) $ (3.55) $ (4.89)
Loss per share-diluted (in dollars per share) $ (1.75) $ (1.99) $ (3.55) $ (4.89)
Weighted average number of shares outstanding:        
Basic (in shares) 313,790 268,511 306,201 273,689
Diluted (in shares) 313,790 268,511 306,201 273,689
Natural gas sales        
Revenue and other:        
Revenue $ 884,669 $ 436,304 $ 2,231,558 $ 1,214,801
Natural gas liquids sales        
Revenue and other:        
Revenue 598,327 327,426 1,503,027 797,296
Oil sales        
Revenue and other:        
Revenue 56,734 34,265 153,326 78,233
Gathering, compression, processing, and transportation        
Operating expenses:        
Cost of goods and services sold 628,225 656,615 1,874,664 1,877,084
Marketing        
Revenue and other:        
Revenue 232,685 91,497 562,928 201,855
Operating expenses:        
Cost of goods and services sold 266,751 128,580 627,822 334,906
Exploration        
Operating expenses:        
Cost of goods and services sold $ 235 $ 454 $ 6,092 $ 895

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