Quarterly report pursuant to Section 13 or 15(d)

Subsidiary Guarantors

v3.21.2
Subsidiary Guarantors
9 Months Ended
Sep. 30, 2021
Subsidiary Guarantors  
Subsidiary Guarantors

(17) Subsidiary Guarantors

Antero Resources’ senior notes are fully and unconditionally guaranteed by Antero Resources’ existing subsidiaries that guarantee the Credit Facility.  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

December 31, 2020

September 30, 2021

Parent (Antero)

Parent (Antero)

   

and Guarantor Subsidiaries

   

and Guarantor Subsidiaries

Accounts receivable, non-guarantor subsidiaries

$

Accounts receivable, related parties

Other current assets

543,841

665,111

Total current assets

543,841

665,111

Noncurrent assets

11,783,502

12,016,722

Total assets

$

12,327,343

12,681,833

Accounts payable, non-guarantor subsidiaries

$

Accounts payable, related parties

69,860

79,595

Other current liabilities

906,348

2,674,603

Total current liabilities

976,208

2,754,198

Noncurrent liabilities

6,070,388

5,499,255

Total liabilities

$

7,046,596

8,253,453

Statement of Operations

Nine Months Ended

September 30, 2021

Parent (Antero)

   

   

and Guarantor Subsidiaries

Revenues

$

2,220,306

Operating expenses

3,428,943

Loss from operations

(1,208,637)

Net loss and comprehensive loss including noncontrolling interests

(1,088,283)

Net loss and comprehensive loss attributable to Antero Resources Corporation

$

(1,088,283)