Quarterly report pursuant to Section 13 or 15(d)

Commitments

v3.21.2
Commitments
9 Months Ended
Sep. 30, 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 September 30, 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

$

264,307

13,597

1,905

91,149

67,081

438,039

2022

1,042,280

52,265

400

352,249

249,687

1,696,881

2023

1,072,523

59,140

377,308

218,620

1,727,591

2024

1,045,442

59,262

402,702

184,381

1,691,787

2025

1,024,783

47,960

366,353

148,632

1,587,728

2026

1,018,812

14,783

350,438

113,824

1,497,857

Thereafter

6,033,138

98,596

1,030,160

230,084

7,391,978

Total

$

11,501,285

345,603

2,305

2,970,359

1,212,309

16,031,861

(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.