Subsidiary Guarantors |
(12)Subsidiary Guarantors
Antero’s wholly-owned subsidiaries each have fully and unconditionally guaranteed Antero’s senior notes. Antero Midstream and its subsidiaries have been designated unrestricted subsidiaries under the Credit Facility and the indentures governing Antero’s senior notes, and do not guarantee any of Antero’s obligations (see note 4). 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 the Company (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 which 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 Condensed Consolidating Balance Sheets at December 31, 2015 and June 30, 2016, and the related Condensed Consolidating Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2015 and 2016 and Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2015 and 2016 present financial information for Antero on a stand-alone basis (carrying its investment in wholly-owned subsidiaries using the equity method), financial information for the subsidiary guarantors, financial information for the non-guarantor subsidiaries, and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. Antero’s wholly-owned subsidiaries are not restricted from making distributions to the Parent.
Condensed Consolidating Balance Sheets
December 31, 2015
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
|
|
Guarantor Subsidiaries
|
|
Non-Guarantor Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
16,590
|
|
|
—
|
|
|
6,883
|
|
|
—
|
|
|
23,473
|
|
Accounts receivable, net
|
|
|
76,697
|
|
|
—
|
|
|
2,707
|
|
|
—
|
|
|
79,404
|
|
Intercompany receivables
|
|
|
2,138
|
|
|
—
|
|
|
65,712
|
|
|
(67,850)
|
|
|
—
|
|
Accrued revenue
|
|
|
128,242
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
128,242
|
|
Derivative instruments
|
|
|
1,009,030
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,009,030
|
|
Other current assets
|
|
|
8,087
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,087
|
|
Total current assets
|
|
|
1,240,784
|
|
|
—
|
|
|
75,302
|
|
|
(67,850)
|
|
|
1,248,236
|
|
Property and equipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas properties, at cost (successful efforts method):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unproved properties
|
|
|
1,996,081
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,996,081
|
|
Proved properties
|
|
|
8,243,901
|
|
|
—
|
|
|
—
|
|
|
(32,795)
|
|
|
8,211,106
|
|
Water handling and treatment systems
|
|
|
—
|
|
|
—
|
|
|
565,616
|
|
|
—
|
|
|
565,616
|
|
Gathering systems and facilities
|
|
|
16,561
|
|
|
—
|
|
|
1,485,835
|
|
|
—
|
|
|
1,502,396
|
|
Other property and equipment
|
|
|
46,415
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
46,415
|
|
|
|
|
10,302,958
|
|
|
—
|
|
|
2,051,451
|
|
|
(32,795)
|
|
|
12,321,614
|
|
Less accumulated depletion, depreciation, and amortization
|
|
|
(1,431,747)
|
|
|
—
|
|
|
(157,625)
|
|
|
—
|
|
|
(1,589,372)
|
|
Property and equipment, net
|
|
|
8,871,211
|
|
|
—
|
|
|
1,893,826
|
|
|
(32,795)
|
|
|
10,732,242
|
|
Derivative instruments
|
|
|
2,108,450
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,108,450
|
|
Investments in subsidiaries
|
|
|
(302,336)
|
|
|
—
|
|
|
—
|
|
|
302,336
|
|
|
—
|
|
Contingent acquisition consideration
|
|
|
178,049
|
|
|
—
|
|
|
—
|
|
|
(178,049)
|
|
|
—
|
|
Other assets, net
|
|
|
15,661
|
|
|
—
|
|
|
10,904
|
|
|
—
|
|
|
26,565
|
|
Total assets
|
|
$
|
12,111,819
|
|
|
—
|
|
|
1,980,032
|
|
|
23,642
|
|
|
14,115,493
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
303,197
|
|
|
—
|
|
|
60,963
|
|
|
—
|
|
|
364,160
|
|
Intercompany payable
|
|
|
65,712
|
|
|
—
|
|
|
2,138
|
|
|
(67,850)
|
|
|
—
|
|
Accrued liabilities
|
|
|
158,713
|
|
|
—
|
|
|
35,363
|
|
|
—
|
|
|
194,076
|
|
Revenue distributions payable
|
|
|
129,949
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
129,949
|
|
Other current liabilities
|
|
|
18,935
|
|
|
—
|
|
|
150
|
|
|
—
|
|
|
19,085
|
|
Total current liabilities
|
|
|
676,506
|
|
|
—
|
|
|
98,614
|
|
|
(67,850)
|
|
|
707,270
|
|
Long-term liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
4,048,782
|
|
|
—
|
|
|
620,000
|
|
|
—
|
|
|
4,668,782
|
|
Deferred income tax liability
|
|
|
1,370,686
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,370,686
|
|
Contingent acquisition consideration
|
|
|
—
|
|
|
—
|
|
|
178,049
|
|
|
(178,049)
|
|
|
—
|
|
Other liabilities
|
|
|
81,453
|
|
|
—
|
|
|
624
|
|
|
—
|
|
|
82,077
|
|
Total liabilities
|
|
|
6,177,427
|
|
|
—
|
|
|
897,287
|
|
|
(245,899)
|
|
|
6,828,815
|
|
Equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Partners' capital
|
|
|
—
|
|
|
—
|
|
|
1,082,745
|
|
|
(1,082,745)
|
|
|
—
|
|
Common stock
|
|
|
2,770
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,770
|
|
Additional paid-in capital
|
|
|
4,122,811
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,122,811
|
|
Accumulated earnings
|
|
|
1,808,811
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,808,811
|
|
Total stockholders' equity
|
|
|
5,934,392
|
|
|
—
|
|
|
1,082,745
|
|
|
(1,082,745)
|
|
|
5,934,392
|
|
Noncontrolling interest in consolidated subsidiary
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,352,286
|
|
|
1,352,286
|
|
Total equity
|
|
|
5,934,392
|
|
|
—
|
|
|
1,082,745
|
|
|
269,541
|
|
|
7,286,678
|
|
Total liabilities and equity
|
|
$
|
12,111,819
|
|
|
—
|
|
|
1,980,032
|
|
|
23,642
|
|
|
14,115,493
|
|
Condensed Consolidating Balance Sheet
June 30, 2016
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
|
|
Guarantor Subsidiaries
|
|
Non-Guarantor Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
19,567
|
|
|
—
|
|
|
8,684
|
|
|
—
|
|
|
28,251
|
|
Accounts receivable, net
|
|
|
70,347
|
|
|
—
|
|
|
1,259
|
|
|
—
|
|
|
71,606
|
|
Intercompany receivables
|
|
|
2,142
|
|
|
—
|
|
|
54,794
|
|
|
(56,936)
|
|
|
—
|
|
Accrued revenue
|
|
|
133,479
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
133,479
|
|
Derivative instruments
|
|
|
429,920
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
429,920
|
|
Other current assets
|
|
|
6,422
|
|
|
—
|
|
|
106
|
|
|
—
|
|
|
6,528
|
|
Total current assets
|
|
|
661,877
|
|
|
—
|
|
|
64,843
|
|
|
(56,936)
|
|
|
669,784
|
|
Property and equipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas properties, at cost (successful efforts method):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unproved properties
|
|
|
1,984,515
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,984,515
|
|
Proved properties
|
|
|
8,882,922
|
|
|
—
|
|
|
—
|
|
|
(88,407)
|
|
|
8,794,515
|
|
Water handling and treatment systems
|
|
|
—
|
|
|
—
|
|
|
655,251
|
|
|
—
|
|
|
655,251
|
|
Gathering systems and facilities
|
|
|
16,892
|
|
|
—
|
|
|
1,579,568
|
|
|
—
|
|
|
1,596,460
|
|
Other property and equipment
|
|
|
44,919
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
44,919
|
|
|
|
|
10,929,248
|
|
|
—
|
|
|
2,234,819
|
|
|
(88,407)
|
|
|
13,075,660
|
|
Less accumulated depletion, depreciation, and amortization
|
|
|
(1,772,202)
|
|
|
—
|
|
|
(205,588)
|
|
|
—
|
|
|
(1,977,790)
|
|
Property and equipment, net
|
|
|
9,157,046
|
|
|
—
|
|
|
2,029,231
|
|
|
(88,407)
|
|
|
11,097,870
|
|
Derivative instruments
|
|
|
1,673,907
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,673,907
|
|
Investments in subsidiaries
|
|
|
(350,558)
|
|
|
—
|
|
|
—
|
|
|
350,558
|
|
|
—
|
|
Contingent acquisition consideration
|
|
|
184,906
|
|
|
—
|
|
|
—
|
|
|
(184,906)
|
|
|
—
|
|
Other assets, net
|
|
|
58,423
|
|
|
—
|
|
|
58,796
|
|
|
—
|
|
|
117,219
|
|
Total assets
|
|
$
|
11,385,601
|
|
|
—
|
|
|
2,152,870
|
|
|
20,309
|
|
|
13,558,780
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
124,939
|
|
|
—
|
|
|
86,167
|
|
|
—
|
|
|
211,106
|
|
Intercompany payable
|
|
|
54,794
|
|
|
—
|
|
|
2,142
|
|
|
(56,936)
|
|
|
—
|
|
Accrued liabilities
|
|
|
187,712
|
|
|
—
|
|
|
13,608
|
|
|
—
|
|
|
201,320
|
|
Revenue distributions payable
|
|
|
135,054
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
135,054
|
|
Derivative instruments
|
|
|
2,726
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,726
|
|
Other current liabilities
|
|
|
19,068
|
|
|
—
|
|
|
158
|
|
|
—
|
|
|
19,226
|
|
Total current liabilities
|
|
|
524,293
|
|
|
—
|
|
|
102,075
|
|
|
(56,936)
|
|
|
569,432
|
|
Long-term liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
3,484,014
|
|
|
—
|
|
|
760,000
|
|
|
—
|
|
|
4,244,014
|
|
Deferred income tax liability
|
|
|
1,063,331
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,063,331
|
|
Contingent acquisition consideration
|
|
|
—
|
|
|
—
|
|
|
184,906
|
|
|
(184,906)
|
|
|
—
|
|
Derivative instruments
|
|
|
5,179
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,179
|
|
Other liabilities
|
|
|
75,382
|
|
|
—
|
|
|
543
|
|
|
—
|
|
|
75,925
|
|
Total liabilities
|
|
|
5,152,199
|
|
|
—
|
|
|
1,047,524
|
|
|
(241,842)
|
|
|
5,957,881
|
|
Equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Partners' capital
|
|
|
—
|
|
|
—
|
|
|
1,105,346
|
|
|
(1,105,346)
|
|
|
—
|
|
Common stock
|
|
|
3,042
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,042
|
|
Additional paid-in capital
|
|
|
5,022,848
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,022,848
|
|
Accumulated earnings
|
|
|
1,207,512
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,207,512
|
|
Total stockholders' equity
|
|
|
6,233,402
|
|
|
—
|
|
|
1,105,346
|
|
|
(1,105,346)
|
|
|
6,233,402
|
|
Noncontrolling interest in consolidated subsidiary
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,367,497
|
|
|
1,367,497
|
|
Total equity
|
|
|
6,233,402
|
|
|
—
|
|
|
1,105,346
|
|
|
262,151
|
|
|
7,600,899
|
|
Total liabilities and equity
|
|
$
|
11,385,601
|
|
|
—
|
|
|
2,152,870
|
|
|
20,309
|
|
|
13,558,780
|
|
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended June 30, 2015
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
|
|
Guarantor Subsidiaries
|
|
Non-Guarantor Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas sales
|
|
$
|
242,065
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
242,065
|
|
Natural gas liquids sales
|
|
|
59,525
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
59,525
|
|
Oil sales
|
|
|
23,032
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
23,032
|
|
Gathering, compression, and water handling and treatment
|
|
|
1,826
|
|
|
—
|
|
|
56,593
|
|
|
(53,929)
|
|
|
4,490
|
|
Marketing
|
|
|
49,829
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
49,829
|
|
Commodity derivative fair value losses
|
|
|
(2,227)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,227)
|
|
Other income
|
|
|
224
|
|
|
—
|
|
|
—
|
|
|
(224)
|
|
|
—
|
|
Total revenue
|
|
|
374,274
|
|
|
—
|
|
|
56,593
|
|
|
(54,153)
|
|
|
376,714
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease operating
|
|
|
6,673
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6,673
|
|
Gathering, compression, processing, and transportation
|
|
|
213,560
|
|
|
—
|
|
|
7,105
|
|
|
(53,996)
|
|
|
166,669
|
|
Production and ad valorem taxes
|
|
|
18,332
|
|
|
—
|
|
|
4,187
|
|
|
—
|
|
|
22,519
|
|
Marketing
|
|
|
79,053
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
79,053
|
|
Exploration
|
|
|
628
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
628
|
|
Impairment of unproved properties
|
|
|
26,339
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
26,339
|
|
Depletion, depreciation, and amortization
|
|
|
161,955
|
|
|
—
|
|
|
15,091
|
|
|
—
|
|
|
177,046
|
|
Accretion of asset retirement obligations
|
|
|
408
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
408
|
|
General and administrative
|
|
|
49,431
|
|
|
—
|
|
|
9,917
|
|
|
(157)
|
|
|
59,191
|
|
Contract termination and rig stacking
|
|
|
1,937
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,937
|
|
Total operating expenses
|
|
|
558,316
|
|
|
—
|
|
|
36,300
|
|
|
(54,153)
|
|
|
540,463
|
|
Operating income (loss)
|
|
|
(184,042)
|
|
|
—
|
|
|
20,293
|
|
|
—
|
|
|
(163,749)
|
|
Other income (expenses):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
(58,980)
|
|
|
—
|
|
|
(843)
|
|
|
—
|
|
|
(59,823)
|
|
Equity in net income of subsidiaries
|
|
|
13,560
|
|
|
—
|
|
|
—
|
|
|
(13,560)
|
|
|
—
|
|
Total other expenses
|
|
|
(45,420)
|
|
|
—
|
|
|
(843)
|
|
|
(13,560)
|
|
|
(59,823)
|
|
Income (loss) before income taxes
|
|
|
(229,462)
|
|
|
—
|
|
|
19,450
|
|
|
(13,560)
|
|
|
(223,572)
|
|
Provision for income tax benefit
|
|
|
84,089
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
84,089
|
|
Net income (loss) and comprehensive income (loss) including noncontrolling interest
|
|
|
(145,373)
|
|
|
—
|
|
|
19,450
|
|
|
(13,560)
|
|
|
(139,483)
|
|
Net income and comprehensive income attributable to noncontrolling interest
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,890
|
|
|
5,890
|
|
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation
|
|
$
|
(145,373)
|
|
|
—
|
|
|
19,450
|
|
|
(19,450)
|
|
|
(145,373)
|
|
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended June 30, 2016
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
|
|
Guarantor Subsidiaries
|
|
Non-Guarantor Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas sales
|
|
$
|
229,787
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
229,787
|
|
Natural gas liquids sales
|
|
|
94,713
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
94,713
|
|
Oil sales
|
|
|
16,740
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
16,740
|
|
Gathering, compression, and water handling and treatment
|
|
|
—
|
|
|
—
|
|
|
136,809
|
|
|
(133,515)
|
|
|
3,294
|
|
Marketing
|
|
|
90,902
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
90,902
|
|
Commodity derivative fair value losses
|
|
|
(684,634)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(684,634)
|
|
Other income
|
|
|
3,899
|
|
|
—
|
|
|
—
|
|
|
(3,899)
|
|
|
—
|
|
Total revenue
|
|
|
(248,593)
|
|
|
—
|
|
|
136,809
|
|
|
(137,414)
|
|
|
(249,198)
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease operating
|
|
|
12,257
|
|
|
—
|
|
|
34,317
|
|
|
(34,531)
|
|
|
12,043
|
|
Gathering, compression, processing, and transportation
|
|
|
267,738
|
|
|
—
|
|
|
6,997
|
|
|
(68,675)
|
|
|
206,060
|
|
Production and ad valorem taxes
|
|
|
16,175
|
|
|
—
|
|
|
1,283
|
|
|
—
|
|
|
17,458
|
|
Marketing
|
|
|
125,977
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
125,977
|
|
Exploration
|
|
|
1,109
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,109
|
|
Impairment of unproved properties
|
|
|
19,944
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,944
|
|
Depletion, depreciation, and amortization
|
|
|
173,222
|
|
|
—
|
|
|
24,140
|
|
|
—
|
|
|
197,362
|
|
Accretion of asset retirement obligations
|
|
|
620
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
620
|
|
General and administrative
|
|
|
47,167
|
|
|
—
|
|
|
13,306
|
|
|
(371)
|
|
|
60,102
|
|
Accretion of contingent acquisition consideration
|
|
|
—
|
|
|
—
|
|
|
3,461
|
|
|
(3,461)
|
|
|
—
|
|
Total operating expenses
|
|
|
664,209
|
|
|
—
|
|
|
83,504
|
|
|
(107,038)
|
|
|
640,675
|
|
Operating income (expense)
|
|
|
(912,802)
|
|
|
—
|
|
|
53,305
|
|
|
(30,376)
|
|
|
(889,873)
|
|
Other income (expenses):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of unconsolidated affiliate
|
|
|
—
|
|
|
—
|
|
|
484
|
|
|
—
|
|
|
484
|
|
Interest
|
|
|
(58,910)
|
|
|
—
|
|
|
(3,878)
|
|
|
193
|
|
|
(62,595)
|
|
Equity in net income (loss) of subsidiaries
|
|
|
(1,026)
|
|
|
—
|
|
|
—
|
|
|
1,026
|
|
|
—
|
|
Total other expenses
|
|
|
(59,936)
|
|
|
—
|
|
|
(3,394)
|
|
|
1,219
|
|
|
(62,111)
|
|
Income (loss) before income taxes
|
|
|
(972,738)
|
|
|
—
|
|
|
49,911
|
|
|
(29,157)
|
|
|
(951,984)
|
|
Provision for income tax benefit
|
|
|
376,494
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
376,494
|
|
Net income (loss) and comprehensive income (loss) including noncontrolling interest
|
|
|
(596,244)
|
|
|
—
|
|
|
49,911
|
|
|
(29,157)
|
|
|
(575,490)
|
|
Net income and comprehensive income attributable to noncontrolling interest
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20,754
|
|
|
20,754
|
|
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation
|
|
$
|
(596,244)
|
|
|
—
|
|
|
49,911
|
|
|
(49,911)
|
|
|
(596,244)
|
|
Condensed Consolidating Statement of Operations and Comprehensive Income
Six Months Ended June 30, 2015
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
|
|
Guarantor Subsidiaries
|
|
Non-Guarantor Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas sales
|
|
$
|
557,007
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
557,007
|
|
Natural gas liquids sales
|
|
|
138,311
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
138,311
|
|
Oil sales
|
|
|
35,489
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
35,489
|
|
Gathering, compression, and water handling and treatment
|
|
|
5,693
|
|
|
—
|
|
|
108,836
|
|
|
(103,871)
|
|
|
10,658
|
|
Marketing
|
|
|
107,609
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
107,609
|
|
Commodity derivative fair value gains
|
|
|
757,327
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
757,327
|
|
Other income
|
|
|
500
|
|
|
—
|
|
|
—
|
|
| |