Quarterly report pursuant to Section 13 or 15(d)

Subsidiary Guarantors

v3.20.2
Subsidiary Guarantors
9 Months Ended
Sep. 30, 2020
Subsidiary Guarantors  
Subsidiary Guarantors

(19) Subsidiary Guarantors

Each of the Company’s wholly owned subsidiaries has fully and unconditionally guaranteed Antero Resources’ senior notes.  In the event a subsidiary guarantor is sold or disposed of (whether by merger, consolidation, the sale of a sufficient amount of its capital stock so that it no longer qualifies as a “Subsidiary” of Antero (as defined in the indentures governing the notes) or the sale of all or substantially all of its assets (other than by lease)) and whether or not the subsidiary guarantor is the surviving entity in such transaction to a person that is not Antero or a restricted subsidiary of Antero, such subsidiary guarantor will be released from its obligations under its subsidiary guarantee if the sale or other disposition does not violate the covenants set forth in the indentures governing the notes.

In addition, a subsidiary guarantor will be released from its obligations under the indentures and its guarantee, upon the release or discharge of the guarantee of other Indebtedness (as defined in the indentures governing the notes) that resulted in the creation of such guarantee, except a release or discharge by or as a result of payment under such guarantee; if Antero designates such subsidiary as an unrestricted subsidiary and such designation complies with the other applicable provisions of the indentures governing the notes or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the notes.

The following tables present summarized financial information of Antero and its guarantor subsidiaries. The Company’s wholly owned subsidiaries are not restricted from making distributions to the Company.

Balance Sheet

Parent

Guarantor

(Antero)

Subsidiaries

December 31,

September 30,

December 31,

September 30,

(in thousands)

   

2019

2020

   

2019

2020

Accounts receivable, non-guarantor subsidiaries

$

51,000

$

Accounts receivable, related parties

125,000

299,450

398,158

Other current assets

797,885

446,889

35,028

Total current assets

922,885

497,889

299,450

433,186

Noncurrent assets

14,274,684

11,813,110

812,129

202,452

Total assets

$

15,197,569

12,310,999

$

1,111,579

635,638

Accounts payable, non-guarantor subsidiaries

$

$

Accounts payable, related parties

397,333

514,705

35,028

Other current liabilities

942,256

945,647

Total current liabilities

1,339,589

1,460,352

35,028

Noncurrent liabilities

7,186,687

6,322,233

Total liabilities

$

8,526,276

7,782,585

35,028

Noncontrolling interests

$

315,754

Statement of Operations

Parent

Guarantor

(Antero)

Subsidiaries

Nine months ended

Nine months ended

September 30,

September 30,

(in thousands)

   

2019

2020

   

2019

2020

Revenues

$

3,453,124

2,158,743

93,318

Operating expenses

4,439,278

2,789,119

560,102

Income (loss) from operations

(986,154)

(630,376)

(466,784)

Net income and comprehensive income including noncontrolling interests

10,932

(844,755)

131,135

(510,969)

Net income and comprehensive income attributable to Antero Resources Corporation

$

10,932

(826,758)

131,135

(510,969)