Quarterly report pursuant to Section 13 or 15(d)

Commitments

v3.7.0.1
Commitments
3 Months Ended
Mar. 31, 2017
Commitments  
Commitments

(13)Commitments

 

The table below is a schedule of future minimum payments for firm transportation, drilling rig and completion services, processing, gathering and compression, and office and equipment agreements, as well as leases that have remaining lease terms in excess of one year as of March 31, 2017 (in millions).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Firm
transportation

  

Processing,
gathering and
compression

  

Drilling rigs and completion
services

  

Office and equipment

  

 

 

 

 

(a)

 

(b)

 

(c)

 

(d)

 

Total

 

Remainder of 2017

 

$

510

 

 

304

 

 

95

 

 

10

 

 

919

 

2018

 

 

937

 

 

398

 

 

75

 

 

13

 

 

1,423

 

2019

 

 

1,088

 

 

322

 

 

40

 

 

10

 

 

1,460

 

2020

 

 

1,107

 

 

319

 

 

 —

 

 

 9

 

 

1,435

 

2021

 

 

1,086

 

 

303

 

 

 —

 

 

 8

 

 

1,397

 

2022

 

 

1,033

 

 

299

 

 

 —

 

 

 8

 

 

1,340

 

Thereafter

 

 

9,362

 

 

1,273

 

 

 —

 

 

17

 

 

10,652

 

Total

 

$

15,123

 

 

3,218

 

 

210

 

 

75

 

 

18,626

 

 

(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 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 agreements for certain of its production that will allow it to realize the value of its NGLs.  The minimum payment obligations under the agreements are presented in the table.

 

The Company has various gathering and compression service agreements with third parties that provide for payments based on volumes gathered or compressed.  The minimum payment obligations under these agreements are presented in the table.

 

The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.  The values in the table also include fees to be paid to the Joint Venture owned by Antero Midstream and MarkWest, and Antero Midstream’s commitments for the construction of its advanced wastewater treatment complex.  The table does not include intracompany commitments.

 

(c) Drilling Rig Service Commitments

 

The Company has obligations under agreements with service providers to procure drilling rigs and completion services.  The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.

 

(d) Office and Equipment Leases

 

The Company leases various office space and equipment under capital and operating lease arrangements.