Quarterly report pursuant to Section 13 or 15(d)

Subsidiary Guarantors

v2.4.0.8
Subsidiary Guarantors
6 Months Ended
Jun. 30, 2014
Subsidiary Guarantors  
Subsidiary Guarantors

(10)  Subsidiary Guarantors

 

The Company’s wholly owned subsidiaries each have fully and unconditionally guaranteed the Company’s outstanding senior notes. The following Condensed Consolidating Balance Sheets as of December 31, 2013 and June 30, 2014 present financial information for Antero Resources Corporation as the Parent on a stand-alone basis (carrying its investment in subsidiaries using the equity method), combined financial information for the subsidiary guarantors (Antero Resources Midstream LLC and Antero Midstream LLC) as a group, and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. The guarantor subsidiaries had no revenues, expenses, or cash flow during the year ended December 31, 2013 or the three and six months ended June 30, 2014. The guarantor subsidiaries are not restricted from making distributions to the Company.

 

Condensed Consolidating Balance Sheets

 

December 31, 2013

 

(In thousands)

 

 

 

Parent

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

Assets

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

17,487

 

 

 

17,487

 

Other

 

316,077

 

1

 

(1

)

316,077

 

Total current assets

 

333,564

 

1

 

(1

)

333,564

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

5,559,656

 

 

 

5,559,656

 

Other long-term assets

 

720,361

 

 

 

720,361

 

Investment in subsidiary

 

1

 

 

(1

)

 

 

 

$

6,613,582

 

1

 

(2

)

6,613,581

 

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

622,229

 

 

 

622,229

 

Long-term debt

 

2,078,999

 

 

 

2,078,999

 

Other long-term liabilities

 

313,693

 

 

 

313,693

 

Due to subsidiary

 

1

 

 

(1

)

 

Total liabilities

 

3,014,922

 

 

(1

)

3,014,921

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

3,598,660

 

1

 

(1

)

3,598,660

 

Total liabilities and equity

 

$

6,613,582

 

1

 

(2

)

6,613,581

 

 

June 30, 2014

 

(In thousands)

 

 

 

Parent

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

Assets

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

19,273

 

 

 

19,273

 

Other

 

367,955

 

1

 

(1

)

367,955

 

Total current assets

 

387,228

 

1

 

(1

)

387,228

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

7,211,793

 

 

 

7,211,793

 

Other long-term assets

 

446,187

 

 

 

446,187

 

Investment in subsidiary

 

1

 

 

(1

)

 

 

 

$

8,045,209

 

1

 

(2

)

8,045,208

 

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

860,714

 

 

 

860,714

 

Long-term debt

 

3,370,636

 

 

 

3,370,636

 

Other long-term liabilities

 

290,631

 

 

 

290,631

 

Due to subsidiary

 

1

 

 

(1

)

 

Total liabilities

 

4,521,982

 

 

(1

)

4,521,981

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

3,523,227

 

1

 

(1

)

3,523,227

 

Total liabilities and equity

 

$

8,045,209

 

1

 

(2

)

8,045,208