Annual report pursuant to Section 13 and 15(d)

Condensed Consolidating Financial Information - Cash Flows (Details)

v3.19.3.a.u2
Condensed Consolidating Financial Information - Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 16, 2019
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows provided by (used in) operating activities:                        
Net income (loss) and comprehensive income (loss) including noncontrolling interests   $ (482,196) $ (878,864) $ 42,168 $ 1,025,756 $ 18,736 $ (77,972) $ (67,275) $ 80,810 $ (293,136) $ (45,701) $ 785,137
Adjustments to reconcile net income (loss) to net cash provided by operating activities                        
Depletion, depreciation, amortization, and accretion                   918,629 975,284 827,220
Impairment of oil and gas properties                   1,300,444 549,437 159,598
Impairment of midstream assets                   14,782 9,658 23,431
Asset Impairment Charges                   1,782,816    
Impairment of gathering systems and facilities                       23,431
Commodity derivative fair value (gains) losses                   (463,972) 87,594 (658,283)
Gains on settled commodity derivatives                   325,090 243,112 213,940
Premium paid on derivative contracts                     (13,318)  
Proceeds from derivative monetizations                     370,365 749,906
Marketing derivative fair value (gains) losses                   0 (94,081) 21,394
Gains on settled marketing derivatives                     72,687  
Deferred income tax expense (benefit)                   (79,158) (128,857) (295,126)
Gain on sale of assets                   951    
Equity-based compensation expense                   23,559 70,414 103,445
Loss on sale of Antero Midstream Corporation shares                   108,745    
Loss (gain) on early extinguishment of debt                   (36,419)   1,500
Equity in earnings (loss) of unconsolidated affiliates                   143,216 (40,280) (20,194)
Water earnout                   (125,000)    
Distributions/dividends of earnings from unconsolidated affiliates                   157,956 46,415 20,195
Gain on deconsolidation of Antero Midstream Partners LP         $ (1,406,042)         (1,406,042)    
Other                   10,681 4,681 (1,907)
Changes in current assets and liabilities                   35,542 (25,423) 76,035
Net cash provided by operating activities                   1,103,458 2,081,987 2,006,291
Cash flows provided by (used in) investing activities:                        
Additions to proved properties                       (175,650)
Additions to unproved properties                   (88,682) (172,387) (204,272)
Drilling and completion costs                   (1,254,118) (1,488,573) (1,281,985)
Additions to water handling and treatment systems                   (24,416) (97,699) (194,502)
Additions to gathering systems and facilities                   (48,239) (444,413) (346,217)
Additions to other property and equipment                   (6,700) (7,514) (14,127)
Investments in unconsolidated affiliates                   (25,020) (136,475) (235,004)
Proceeds from sale of common stock of Antero Midstream Corporation                   100,000    
Proceeds from the Antero Midstream Partners LP Transactions                   296,611    
Change in other assets                   7,091 (3,663) (12,029)
Change in other liabilities                   7,091    
Proceeds from sale of assets                   1,983   2,156
Other                       2,156
Net cash used in investing activities                   (1,041,490) (2,350,724) (2,461,630)
Cash flows provided by (used in) financing activities:                        
Issuance of common stock $ 100,000                      
Issuance of common units by Antero Midstream Partners LP                       248,956
Repurchases of common stock                   (38,772) (129,084)  
Sale of common units in Antero Midstream Partners LP by Antero Resources Corporation                       311,100
Issuance of senior notes by Antero Midstream Partners LP                   650,000    
Repayment of senior notes                   (191,092)    
Borrowings on bank credit facilities, net                   232,000 660,379 90,000
Payments of deferred financing costs                   (4,547) (2,169) (16,377)
Distributions to noncontrolling interests in Antero Midstream Partners LP                   (85,076) (267,271) (152,352)
Employee tax withholding for settlement of equity compensation awards                   (2,389) (17,020) (24,174)
Other                   (2,560) (4,539) (4,983)
Net cash provided by financing activities                   557,564 240,296 452,170
Antero Midstream Partners LP cash at deconsolidation                   (619,532)    
Net increase (decrease) in cash and cash equivalents                     (28,441) (3,169)
Cash and cash equivalents, beginning of period                 28,441   28,441 31,610
Cash and cash equivalents, end of period                       28,441
Reportable legal entity | Parent (Antero)                        
Cash flows provided by (used in) operating activities:                        
Net income (loss) and comprehensive income (loss) including noncontrolling interests                   (109,928) (397,517) 615,070
Adjustments to reconcile net income (loss) to net cash provided by operating activities                        
Depletion, depreciation, amortization, and accretion                   896,859 845,136 707,658
Change in fair value of contingent acquisition consideration                     93,019 (13,476)
Impairment of oil and gas properties                   1,300,444 549,437 159,598
Impairment of midstream assets                   7,800 4,470  
Asset Impairment Charges                   1,451,334    
Commodity derivative fair value (gains) losses                   (463,972) 87,594 (658,283)
Gains on settled commodity derivatives                   325,090 243,112 213,940
Premium paid on derivative contracts                     (13,318)  
Proceeds from derivative monetizations                     370,365 749,906
Marketing derivative fair value (gains) losses                     (94,081) 21,394
Gains on settled marketing derivatives                     72,687  
Deferred income tax expense (benefit)                   (79,158) (128,857) (295,126)
Gain on sale of assets                   951    
Equity-based compensation expense                   21,082 49,341 76,162
Loss on sale of Antero Midstream Corporation shares                   108,745    
Loss (gain) on early extinguishment of debt                   (36,419)   1,205
Equity in earnings of consolidated subsidiaries                   (15,021) 3,664 43,710
Equity in earnings of affiliates                   (15,021)    
Equity in earnings (loss) of unconsolidated affiliates                   49,442    
Water earnout                   (125,000)    
Distributions/dividends of earnings from unconsolidated affiliates                   145,351    
Gain on deconsolidation of Antero Midstream Partners LP                   (1,205,705)    
Distributions from Antero Midstream Partners LP                   94,391    
Distributions from subsidiaries                     159,181 131,598
Other                   (37,991) 4,681 (4,500)
Changes in current assets and liabilities                   29,307 (26,059) 87,466
Net cash provided by operating activities                   1,049,358 1,822,855 1,836,322
Cash flows provided by (used in) investing activities:                        
Additions to proved properties                       (175,650)
Additions to unproved properties                   (88,682) (172,387) (204,272)
Drilling and completion costs                   (1,274,683) (1,743,587) (1,455,554)
Additions to gathering systems and facilities                     103  
Additions to other property and equipment                   (5,638) (7,441) (14,127)
Proceeds from sale of common stock of Antero Midstream Corporation                   100,000    
Proceeds from the Antero Midstream Partners LP Transactions                   296,611    
Change in other assets                     (72) (8,594)
Change in other liabilities                   10,448    
Proceeds from sale of assets                   1,983    
Other                       2,156
Net cash used in investing activities                   (959,961) (1,923,384) (1,856,041)
Cash flows provided by (used in) financing activities:                        
Repurchases of common stock                   (38,772) (129,084)  
Sale of common units in Antero Midstream Partners LP by Antero Resources Corporation                       311,100
Repayment of senior notes                   (191,092)    
Borrowings on bank credit facilities, net                   141,621 225,379 (255,000)
Payments of deferred financing costs                   2,921   (10,857)
Employee tax withholding for settlement of equity compensation awards                   (2,360) (11,491) (18,229)
Other                   (1,715) (4,353) (4,785)
Net cash provided by financing activities                   (89,397) 80,451 22,229
Net increase (decrease) in cash and cash equivalents                     (20,078) 2,510
Cash and cash equivalents, beginning of period                 20,078   20,078 17,568
Cash and cash equivalents, end of period                       20,078
Reportable legal entity | Guarantor Subsidiaries                        
Cash flows provided by (used in) operating activities:                        
Net income (loss) and comprehensive income (loss) including noncontrolling interests                   (230,201)    
Adjustments to reconcile net income (loss) to net cash provided by operating activities                        
Asset Impairment Charges                   324,500    
Equity in earnings (loss) of unconsolidated affiliates                   106,038    
Gain on deconsolidation of Antero Midstream Partners LP                   (200,337)    
Reportable legal entity | Non-Guarantor Subsidiaries                        
Cash flows provided by (used in) operating activities:                        
Net income (loss) and comprehensive income (loss) including noncontrolling interests                   99,518 585,944 307,315
Adjustments to reconcile net income (loss) to net cash provided by operating activities                        
Depletion, depreciation, amortization, and accretion                   21,770 130,148 119,562
Change in fair value of contingent acquisition consideration                     (93,019) 13,476
Impairment of midstream assets                   6,982 5,771 23,431
Asset Impairment Charges                   6,982    
Impairment of gathering systems and facilities                       23,431
Gain on sale of assets                     (583)  
Equity-based compensation expense                   2,477 21,073 27,283
Loss (gain) on early extinguishment of debt                       295
Equity in earnings (loss) of unconsolidated affiliates                   (12,264) (40,280) (20,194)
Distributions/dividends of earnings from unconsolidated affiliates                   12,605 46,415 20,195
Other                   750 2,879 2,593
Changes in current assets and liabilities                   (10,573) (788) (18,160)
Net cash provided by operating activities                   121,265 657,560 475,796
Cash flows provided by (used in) investing activities:                        
Additions to water handling and treatment systems                   (24,547) (88,674) (195,162)
Additions to gathering systems and facilities                   (48,239) (446,270) (346,217)
Additions to other property and equipment                   (1,062)    
Investments in unconsolidated affiliates                   (25,020) (136,475) (235,004)
Change in other assets                     (3,591) (3,435)
Change in other liabilities                   (3,357) 2,273  
Other                     6,150  
Net cash used in investing activities                   (102,225) (666,587) (779,818)
Cash flows provided by (used in) financing activities:                        
Issuance of common units by Antero Midstream Partners LP                       248,956
Issuance of senior notes by Antero Midstream Partners LP                   650,000    
Borrowings on bank credit facilities, net                   90,379 435,000 345,000
Payments of deferred financing costs                   (7,468) (2,169) (5,520)
Distributions to noncontrolling interests in Antero Midstream Partners LP                   (131,545) (426,452) (283,950)
Employee tax withholding for settlement of equity compensation awards                   (29) (5,529) (5,945)
Other                   (845) (186) (198)
Net cash provided by financing activities                   600,492 664 298,343
Antero Midstream Partners LP cash at deconsolidation                   (619,532)    
Net increase (decrease) in cash and cash equivalents                     (8,363) (5,679)
Cash and cash equivalents, beginning of period                 $ 8,363   8,363 14,042
Cash and cash equivalents, end of period                       8,363
Eliminations                        
Cash flows provided by (used in) operating activities:                        
Net income (loss) and comprehensive income (loss) including noncontrolling interests                   (52,525) (234,128) (137,248)
Adjustments to reconcile net income (loss) to net cash provided by operating activities                        
Change in fair value of contingent acquisition consideration                       (13,476)
Impairment of midstream assets                     (583)  
Gain on sale of assets                     583  
Equity in earnings of consolidated subsidiaries                   15,021 (3,664) (43,710)
Equity in earnings of affiliates                   15,021    
Distributions from Antero Midstream Partners LP                   (94,391)    
Distributions from subsidiaries                     (159,181) (131,598)
Other                   47,922 (2,879)  
Changes in current assets and liabilities                   16,808 1,424 6,729
Net cash provided by operating activities                   (67,165) (398,428) (305,827)
Cash flows provided by (used in) investing activities:                        
Drilling and completion costs                   20,565 255,014 173,569
Additions to water handling and treatment systems                   131 (9,025) 660
Additions to gathering systems and facilities                     1,754  
Additions to other property and equipment                     (73)  
Change in other liabilities                     (2,273)  
Other                     (6,150)  
Net cash used in investing activities                   20,696 239,247 174,229
Cash flows provided by (used in) financing activities:                        
Distributions to noncontrolling interests in Antero Midstream Partners LP                   46,469 159,181 131,598
Net cash provided by financing activities                   $ 46,469 $ 159,181 $ 131,598