Quarterly report pursuant to Section 13 or 15(d)

Subsidiary Guarantors

v3.21.1
Subsidiary Guarantors
3 Months Ended
Mar. 31, 2021
Subsidiary Guarantors  
Subsidiary Guarantors

(17) 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 (in thousands). The Company’s wholly owned subsidiaries are not restricted from making distributions to the Company.

Balance Sheet

March 31, 2021

Parent (Antero)

   

and Guarantor Subsidiaries

Accounts receivable, non-guarantor subsidiaries

$

51,000

Accounts receivable, related parties

Other current assets

505,539

Total current assets

556,539

Noncurrent assets

11,636,099

Total assets

$

12,192,638

Accounts payable, non-guarantor subsidiaries

$

Accounts payable, related parties

85,846

Other current liabilities

1,121,886

Total current liabilities

1,207,732

Noncurrent liabilities

5,540,027

Total liabilities

$

6,747,759

Statement of Operations

Three Months Ended March 31, 2021

Parent (Antero)

   

and Guarantor Subsidiaries

Revenues

$

1,189,088

Operating expenses

1,098,943

Income from operations

90,145

Net loss and comprehensive loss including noncontrolling interests

(15,499)

Net loss and comprehensive loss attributable to Antero Resources Corporation

$

(15,499)