Quarterly report pursuant to Section 13 or 15(d)

Commitments

v3.21.1
Commitments
3 Months Ended
Mar. 31, 2021
Commitments  
Commitments

(13) Commitments

The following table sets forth a schedule of future minimum payments for firm transportation, drilling rig and completion services, processing, gathering and compression, and office and equipment agreements, which include leases that have remaining lease terms in excess of one year as of March 31, 2021 (in thousands).

Processing,

Firm

Gathering and

Land Payment

Operating and

Imputed Interest

Transportation

Compression

Obligations

Financing Leases

for Leases

   

(a)

   

(b)

   

(c)

   

(d)

   

(d)

   

Total

 

Remainder of 2021

$

816,349

41,199

2,576

201,248

256,429

1,317,801

2022

1,042,065

52,265

400

267,895

311,557

1,674,182

2023

1,072,312

59,140

300,977

274,267

1,706,696

2024

1,045,230

59,262

334,699

231,768

1,670,959

2025

1,024,573

47,960

306,925

186,865

1,566,323

2026

1,018,610

14,783

299,354

143,617

1,476,364

Thereafter

6,027,905

98,596

839,133

276,366

7,242,000

Total

$

12,047,044

373,205

2,976

2,550,231

1,680,869

16,654,325

(a) Firm Transportation

The Company has entered into firm transportation agreements with various pipelines in order to facilitate the delivery of its production to market. These contracts commit the Company to transport minimum daily natural gas or NGLs volumes at negotiated

rates or pay for any deficiencies at specified reservation fee rates. The amounts in this table are based on the Company’s minimum daily volumes at the reservation fee rate. The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the unaudited condensed consolidated financial statements its proportionate share of costs based on its working interest.

(b) Processing, Gathering, and Compression Service Commitments

The Company has entered into various long-term gas processing, gathering and compression service agreements. Certain of these agreements were determined to be leases. The minimum payment obligations under the agreements that are not leases are presented in this column.

The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the unaudited condensed consolidated financial statements its proportionate share of costs based on its working interest.

(c) Land Payment Obligations

The Company has entered into various land acquisition agreements. Certain of these agreements contain minimum payment obligations over various terms. The values in the table represent the minimum payments due under these arrangements. None of these agreements were determined to be leases.

(d) Leases, including imputed interest

The Company has obligations under contracts for services provided by drilling rigs and completion fleets, processing, gathering, and compression services agreements, and office and equipment leases. The values in the table represent the gross amounts that Antero Resources is committed to pay; however, the Company will record in its financial statements its proportionate share of costs based on its working interests. Refer to Note 12—Leases to the unaudited condensed consolidated financial statements for more information on the Company’s operating and finance leases.