Quarterly report pursuant to Section 13 or 15(d)

Subsidiary Guarantors - Cash Flows (Details)

v3.19.2
Subsidiary Guarantors - Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash flows provided by (used in) operating activities:            
Net income including noncontrolling interests $ 42,168 $ 1,025,756 $ (67,275) $ 80,810 $ 1,067,924 $ 13,535
Adjustments to reconcile net income (loss) to net cash provided by operating activities            
Depletion, depreciation, amortization, and accretion         484,397 467,684
Impairment of oil and gas properties 130,999   134,437   212,243 184,973
Impairment of gathering systems and facilities     8,501   6,982 8,501
Commodity derivative fair value (gains) losses (328,427)   (55,336)   (251,059) (77,773)
Gains on settled commodity derivatives         141,791 197,225
Marketing derivative fair value (gains) losses     110     (94,124)
Gains on settled marketing derivatives           94,158
Deferred income tax expense (benefit)         304,963 (16,453)
Gain on sale of assets 951       951  
Equity-based compensation expense 6,549   19,071   15,452 40,227
Equity in earnings of unconsolidated affiliates (13,585)   (9,264)   (27,666) (17,126)
Distributions of earnings from unconsolidated affiliates         60,527 17,895
Gain on deconsolidation of Antero Midstream Partners LP         (1,406,042)  
Other         5,670 1,932
Changes in current assets and liabilities         140,975 18,286
Net cash provided by operating activities         757,108 838,940
Cash flows provided by (used in) investing activities:            
Additions to unproved properties         (56,814) (87,861)
Drilling and completion costs         (680,088) (752,781)
Additions to water handling and treatment systems         (24,416) (58,127)
Additions to gathering systems and facilities         (48,239) (206,753)
Additions to other property and equipment         (4,629) (3,502)
Investments in unconsolidated affiliates         (25,020) (56,297)
Proceeds from the Antero Midstream Partners LP Transactions         296,611  
Change in other assets         (4,974) (7,026)
Proceeds from sale of assets         1,983  
Net cash used in investing activities         (545,586) (1,172,347)
Cash flows provided by (used in) financing activities:            
Issuance of senior notes         650,000  
Borrowings (repayments) on bank credit facilities, net         (145,000) 485,000
Payments of deferred financing costs         (8,259)  
Distributions to noncontrolling interests in Antero Midstream Partners LP         (85,076) (119,023)
Employee tax withholding for settlement of equity compensation awards         (2,295) (7,967)
Other         (1,360) (2,436)
Net cash provided by financing activities         408,010 355,574
Effect of deconsolidation of Antero Midstream Partners LP         (619,532)  
Net increase (decrease) in cash and cash equivalents           22,167
Cash and cash equivalents, beginning of period       28,441   28,441
Cash and cash equivalents, end of period     50,608     50,608
Reportable legal entity | Parent (Antero)            
Cash flows provided by (used in) operating activities:            
Net income including noncontrolling interests 42,168   (136,385)   810,191 (121,552)
Adjustments to reconcile net income (loss) to net cash provided by operating activities            
Depletion, depreciation, amortization, and accretion         462,627 398,751
Accretion of contingent acquisition consideration           (7,821)
Impairment of oil and gas properties 130,999   134,437   212,243 184,973
Impairment of gathering systems and facilities     4,470     4,470
Commodity derivative fair value (gains) losses (328,427)   (55,336)   (251,059) (77,773)
Gains on settled commodity derivatives         141,791 197,225
Marketing derivative fair value (gains) losses     110     (94,124)
Gains on settled marketing derivatives           94,158
Deferred income tax expense (benefit)         304,963 (16,453)
Gain on sale of assets 951       951  
Equity-based compensation expense         12,975 28,149
Equity in earnings of consolidated subsidiaries     26,926   (15,021) 47,054
Equity in earnings of unconsolidated affiliates $ (13,585)       (4,999)  
Distributions of earnings from unconsolidated affiliates         47,922  
Gain on deconsolidation of Antero Midstream Partners LP         (1,205,705)  
Distributions from subsidiaries         94,391 74,647
Other         (43,002) 547
Changes in current assets and liabilities         134,740 14,510
Net cash provided by operating activities         703,008 726,761
Cash flows provided by (used in) investing activities:            
Additions to unproved properties         (56,814) (87,861)
Drilling and completion costs         (700,653) (887,459)
Additions to other property and equipment         (3,567) (3,502)
Proceeds from the Antero Midstream Partners LP Transactions         296,611  
Change in other assets         (1,617) 2,051
Proceeds from sale of assets         1,983  
Net cash used in investing activities         (464,057) (976,771)
Cash flows provided by (used in) financing activities:            
Borrowings (repayments) on bank credit facilities, net         (235,379) 270,000
Payments of deferred financing costs         (791)  
Employee tax withholding for settlement of equity compensation awards         (2,266) (6,649)
Other         (515) (2,336)
Net cash provided by financing activities         (238,951) 261,015
Net increase (decrease) in cash and cash equivalents           11,005
Cash and cash equivalents, beginning of period       20,078   20,078
Cash and cash equivalents, end of period     31,083     31,083
Reportable legal entity | Guarantor Subsidiaries            
Cash flows provided by (used in) operating activities:            
Net income including noncontrolling interests         210,740  
Adjustments to reconcile net income (loss) to net cash provided by operating activities            
Equity in earnings of unconsolidated affiliates         (10,403)  
Gain on deconsolidation of Antero Midstream Partners LP         (200,337)  
Reportable legal entity | Non-Guarantor Subsidiaries            
Cash flows provided by (used in) operating activities:            
Net income including noncontrolling interests     109,466   99,518 217,571
Adjustments to reconcile net income (loss) to net cash provided by operating activities            
Depletion, depreciation, amortization, and accretion         21,770 68,933
Accretion of contingent acquisition consideration     3,947   1,928 7,821
Impairment of gathering systems and facilities     4,614   6,982 4,614
Gain on sale of assets     (583)     (583)
Equity-based compensation expense         2,477 12,078
Equity in earnings of unconsolidated affiliates     (9,264)   (12,264) (17,126)
Distributions of earnings from unconsolidated affiliates         12,605 17,895
Other         750 1,385
Changes in current assets and liabilities         (10,573) (157)
Net cash provided by operating activities         121,265 312,431
Cash flows provided by (used in) investing activities:            
Additions to water handling and treatment systems         (24,547) (49,054)
Additions to gathering systems and facilities         (48,239) (206,753)
Additions to other property and equipment         (1,062)  
Investments in unconsolidated affiliates         (25,020) (56,297)
Change in other assets         (3,357) (9,077)
Net cash used in investing activities         (102,225) (321,181)
Cash flows provided by (used in) financing activities:            
Issuance of senior notes         650,000  
Borrowings (repayments) on bank credit facilities, net         90,379 215,000
Payments of deferred financing costs         (7,468)  
Distributions to noncontrolling interests in Antero Midstream Partners LP         (131,545) (193,670)
Employee tax withholding for settlement of equity compensation awards         (29) (1,318)
Other         (845) (100)
Net cash provided by financing activities         600,492 19,912
Effect of deconsolidation of Antero Midstream Partners LP         (619,532)  
Net increase (decrease) in cash and cash equivalents           11,162
Cash and cash equivalents, beginning of period       $ 8,363   8,363
Cash and cash equivalents, end of period     19,525     19,525
Eliminations            
Cash flows provided by (used in) operating activities:            
Net income including noncontrolling interests     (40,356)   (52,525) (82,484)
Adjustments to reconcile net income (loss) to net cash provided by operating activities            
Accretion of contingent acquisition consideration     (3,947)   (1,928) (7,821)
Impairment of gathering systems and facilities     (583)     (583)
Gain on sale of assets     583     583
Equity in earnings of consolidated subsidiaries     $ (26,926)   15,021 (47,054)
Distributions from subsidiaries         (94,391) (74,647)
Other         47,922  
Changes in current assets and liabilities         16,808 3,933
Net cash provided by operating activities         (67,165) (200,252)
Cash flows provided by (used in) investing activities:            
Drilling and completion costs         20,565 134,678
Additions to water handling and treatment systems         131 (9,073)
Net cash used in investing activities         20,696 125,605
Cash flows provided by (used in) financing activities:            
Distributions to noncontrolling interests in Antero Midstream Partners LP         46,469 74,647
Net cash provided by financing activities         $ 46,469 $ 74,647