Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenue:        
Natural gas sales $ 182,125 $ 66,796 $ 476,403 $ 156,618
Natural gas liquids sales 31,956   59,772  
Oil sales 8,473 285 11,435 610
Commodity derivative fair value gains (losses) 161,968 (159,004) 285,510 52,210
Loss on sale of assets   (115)    
Gain on sale of gathering system       291,190
Total revenue 384,522 (92,038) 833,120 500,628
Operating expenses:        
Lease operating 2,697 1,513 5,222 4,072
Gathering, compression, processing, and transportation 58,383 25,291 148,023 56,945
Production taxes 11,851 3,621 30,578 10,734
Exploration 5,372 3,156 17,034 7,912
Impairment of unproved properties 3,205 2,438 9,564 4,019
Depletion, depreciation, and amortization 65,697 26,858 158,650 65,289
Accretion of asset retirement obligations 266 25 797 71
General and administrative 14,443 11,938 40,727 31,584
Total operating expenses 161,914 74,840 410,595 180,626
Operating income (loss) 222,608 (166,878) 422,525 320,002
Interest expense (37,444) (22,453) (100,840) (71,046)
Income (loss) from continuing operations before income taxes and discontinued operations 185,164 (189,331) 321,685 248,956
Income tax (expense) benefit (67,370) 75,444 (120,695) (108,525)
Income (loss) from continuing operations 117,794 (113,887) 200,990 140,431
Discontinued operations:        
Income (loss) from results of operations and sale of discontinued operations 3,100 (13,791) 3,100 (418,465)
Net income (loss) and comprehensive income (loss)attributable to Antero equity owners $ 120,894 $ (127,678) $ 204,090 $ (278,034)
Pro forma earnings (loss) per share - basic:        
Continuing operations (in dollars per share) $ 0.45 $ (0.44) $ 0.77 $ 0.54
Discontinued operations (in dollars per share) $ 0.01 $ (0.05) $ 0.01 $ (1.60)
Net income (loss) (in dollars per share) $ 0.46 $ (0.49) $ 0.78 $ (1.06)
Pro forma earnings (loss) per share - diluted:        
Continuing operations (in dollars per share) $ 0.45 $ (0.44) $ 0.77 $ 0.54
Discontinued operations (in dollars per share) $ 0.01 $ (0.05) $ 0.01 $ (1.60)
Net income (loss) (in dollars per share) $ 0.46 $ (0.49) $ 0.78 $ (1.06)
Pro forma weighted average number of shares outstanding:        
Basic (in shares) 262,050 262,050 262,050 262,050
Diluted (in shares) 262,050 262,050 262,050 262,050