Antero Resources Corporation (AR): Análisis PESTLE [Actualizado en Ene-2025]

En el mundo dinámico de la exploración energética, Antero Resources Corporation se encuentra en la encrucijada de la innovación, el desafío y la transformación. Este análisis integral de mortero revela el intrincado panorama de las fuerzas externas que configuran la trayectoria estratégica de la compañía, desde las presiones regulatorias políticas hasta las interrupciones tecnológicas que están redefiniendo la industria del gas natural. A medida que los mercados de energía global evolucionan y la conciencia ambiental se intensifica, los recursos de Antero navega por un terreno complejo de oportunidades y desafíos que determinarán su futura resiliencia y posicionamiento competitivo en un ecosistema de energía cada vez más analizado.

Antero Resources Corporation (AR) - Análisis de mortero: factores políticos

Aumento de las regulaciones federales y estatales sobre fractura hidráulica y extracción de gas natural

A partir de 2024, la Agencia de Protección Ambiental de EE. UU. (EPA) ha implementado regulaciones más estrictas sobre fracturación hidráulica, que incluyen:

Tipo de regulación	Requisitos específicos	Costo de cumplimiento
Control de emisiones de metano	Mandato de reducción del 90%	Costo estimado de $ 1.2 mil millones en toda la industria
Restricciones de eliminación de agua	Protocolos de tratamiento de aguas residuales mejoradas	Gasto de cumplimiento anual de $ 450 millones

Posibles cambios de política en los subsidios energéticos e incentivos fiscales para la producción de gas natural

Los incentivos fiscales federales actuales para la producción de gas natural incluyen:

• Deducción de costo de perforación intangible (IDC): 70% de los gastos de perforación
• Porcentaje de subsidio de agotamiento: hasta 15% de reducción de impuestos
• Crédito fiscal de producción de electricidad renovable: $ 0.027 por kilovatio-hora

Tensiones geopolíticas que afectan el mercado mundial de gas natural y las oportunidades de exportación

Región	Volumen de exportación (2024)	Impacto político
Europa	12.5 mil millones de metros cúbicos	Restricciones comerciales relacionadas con las sanciones
Asia-Pacífico	8.300 millones de metros cúbicos	Aumento de la competencia geopolítica

Políticas de protección del medio ambiente en evolución que impactan las operaciones de perforación

Impactos clave de la política ambiental para la extracción de gas natural:

• Cumplimiento de la Ley de especies en peligro de extinción: aumento del 35% en las restricciones de hábitat protegidas
• Límites de emisiones de metano de la Ley de Aire Limpio: Requisito máximo de fuga del 0.2%
• Regulaciones de protección ambiental a nivel estatal: promedio de $ 750,000 por costo de adaptación del sitio de perforación

Antero Resources Corporation (AR) - Análisis de mortero: factores económicos

Volatilidad en los precios del gas natural y la demanda del mercado

A partir del cuarto trimestre de 2023, los recursos de antero experimentaron fluctuaciones de precios de gas natural con las siguientes métricas clave:

Métrico	Valor	Período
Precio promedio de gas natural	$ 2.57 por mmbtu	P4 2023
Volumen de producción	1.77 mil millones de pies cúbicos por día	P4 2023
Ingresos anuales	$ 2.24 mil millones	2023

Requisitos significativos de inversión de capital

Desglose de gastos de capital para Antero Resources:

Categoría de inversión	Cantidad	Porcentaje de CAPEX total
Operaciones de perforación	$ 850 millones	62%
Desarrollo de infraestructura	$ 375 millones	27%
Actualizaciones tecnológicas	$ 125 millones	9%
Gastos de capital total	$ 1.35 mil millones	100%

Estrategias de gestión de costos continuos

Métricas de gestión de costos para recursos de Anero:

• Gastos operativos por boe (barril de aceite equivalente): $ 7.42
• Gastos generales y administrativos: $ 98 millones anuales
• Objetivo de reducción de costos: 5-7% año tras año

Impacto de la inflación y las tasas de interés

Análisis de impacto económico:

Indicador económico	Valor	Impacto en los recursos de antero
Tasa de inflación	3.4%	Aumento de los costos operativos
Tasa de fondos federales	5.33%	Mayores gastos de préstamo
Relación deuda / capital	0.87	Apalancamiento financiero moderado
Gasto de interés	$ 215 millones	Carga financiera anual

Antero Resources Corporation (AR) - Análisis de mortero: factores sociales

Creciente conciencia pública y preocupación por el impacto ambiental de la extracción de gas natural

Según una encuesta del Centro de Investigación Pew 2023, el 69% de los estadounidenses apoyan la expansión de alternativas de combustible fósil. Las preocupaciones ambientales específicamente relacionadas con la extracción de gas natural muestran:

Categoría de preocupación	Porcentaje de preocupación pública
Riesgos de contaminación del agua	57%
Emisiones de metano	48%
Impactos de fractura hidráulica	42%

Cambios demográficos de la fuerza laboral en la industria energética tradicional

Energy Workforce demografía para Antero Resources en 2024:

Grupo de edad	Porcentaje
Sobre 35	28%
35-50	45%
Más de 50	27%

Compromiso de la comunidad local y licencia social para operar en regiones de perforación

Métricas de participación comunitaria para recursos de antero en las regiones de perforación de los Apalaches:

• Creación de empleo local: 1.237 trabajos directos en 2023
• Inversión comunitaria: $ 3.2 millones en infraestructura local
• Contribuciones fiscales locales: $ 47.6 millones en 2023

Aumento de la demanda de prácticas de producción de energía sostenible y responsable

Métricas de sostenibilidad para recursos de Anero:

Métrica de sostenibilidad	2024 datos
Reducción de la emisión de metano	Reducción del 22% desde 2020
Tasa de reciclaje de agua	68%
Inversión de energía renovable	$ 12.7 millones

Antero Resources Corporation (AR) - Análisis de mortero: factores tecnológicos

Tecnologías avanzadas de perforación horizontal y fractura hidráulica

Antero Resources ha invertido $ 2.3 mil millones en tecnologías de perforación avanzada a partir de 2023. La compañía utiliza técnicas de perforación horizontales 100% en sus activos de esquisto de Marcellus y Utica. La longitud lateral promedio de los pozos horizontales aumentó a 14,500 pies en 2023, en comparación con 12,800 pies en 2022.

Parámetro tecnológico	Rendimiento 2022	2023 rendimiento
Eficiencia de perforación horizontal	12,800 pies por pozo	14,500 pies por pozo
Inversión en tecnología de perforación	$ 1.9 mil millones	$ 2.3 mil millones
Etapas de fractura hidráulica	35-40 etapas por pozo	45-50 etapas por pozo

Implementación de análisis de datos e IA para la eficiencia operativa

Los recursos de antero asignaron $ 87 millones para iniciativas de transformación digital en 2023. Los algoritmos de aprendizaje automático han mejorado la precisión de perforación en un 22%, reduciendo el tiempo no productivo en un 15%.

AI/Métrica de análisis	2023 rendimiento
Inversión de transformación digital	$ 87 millones
Mejora de precisión de perforación	22%
Reducción del tiempo no productivo	15%

Monitoreo remoto y automatización de procesos de perforación y producción

La compañía implementó 247 estaciones de monitoreo remoto automatizados en sus regiones operativas en 2023. La transmisión de datos en tiempo real cubre el 98% de los pozos activos, reduciendo la intervención manual en un 35%.

Parámetro de automatización	2023 datos
Estaciones de monitoreo remoto	247 estaciones
Bien cobertura	98%
Reducción de la intervención manual	35%

Inversiones en tecnología de energía limpia y técnicas de reducción de emisiones

Los recursos de antero cometieron $ 156 millones a las tecnologías de reducción de emisiones en 2023. La intensidad de las emisiones de metano se redujo en un 27% en comparación con la línea de base 2022. El Proyecto Piloto de Captura de Carbon se inició con una inversión de $ 45 millones.

Métrica de energía limpia	2023 rendimiento
Inversión de reducción de emisiones	$ 156 millones
Reducción de la intensidad de las emisiones de metano	27%
Inversión del proyecto de captura de carbono	$ 45 millones

Antero Resources Corporation (AR) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones ambientales complejas y los procesos de permisos

A partir de 2024, Antero Resources Corporation enfrenta estrictos requisitos de cumplimiento regulatorio ambiental en múltiples jurisdicciones. La compañía debe navegar por procesos de permisos complejos en estados como West Virginia y Ohio.

Categoría regulatoria	Costo de cumplimiento	Permitir solicitudes
Permisos de la Ley de Agua Limpia de la EPA	$ 3.2 millones anualmente	47 Permisos activos
Permisos ambientales estatales	$ 2.7 millones anualmente	63 Permisos a nivel estatal

Riesgos de litigios continuos relacionados con las prácticas ambientales y operativas

Los desafíos legales continuos incluyen demandas de impacto ambiental y procedimientos de disputa operativa.

Tipo de litigio	Número de casos activos	Gastos legales estimados
Demandas por impacto ambiental	8 casos activos	$ 5.6 millones en honorarios legales
Procedimientos de disputa operativa	5 casos activos	$ 3.4 millones en gastos legales

Adhesión a los estándares de seguridad y las regulaciones del lugar de trabajo

Antero Resources mantiene un cumplimiento estricto de OSHA y las regulaciones de seguridad de la industria.

Métrica de seguridad	Tasa de cumplimiento	Inversión de seguridad anual
Cumplimiento de OSHA	98.7%	$ 4.1 millones
Capacitación en seguridad en el lugar de trabajo	100% de cobertura de empleados	$ 1.9 millones

Desafíos legales potenciales de grupos ambientalistas y comunidades locales

La compañía enfrenta posibles desafíos legales de organizaciones de defensa ambiental y grupos comunitarios locales.

Fuente de desafío	Número de desafíos activos	Impacto legal potencial
Grupos de defensa ambiental	6 desafíos legales activos	$ 7.2 millones potencial exposición legal
Litigio de la comunidad local	4 procedimientos legales activos	$ 3.8 millones costos legales potenciales

Antero Resources Corporation (AR) - Análisis de mortero: factores ambientales

Compromiso para reducir las emisiones de metano y la huella de carbono

Antero Resources informó una intensidad de emisiones de metano de 0.33 toneladas métricas CO2 equivalente por millón de pies cúbicos de producción de gas natural en 2022. La compañía logró una reducción del 71% en las emisiones de metano de los niveles de referencia de 2015.

Métrica de emisiones	Rendimiento 2022	Objetivo de reducción
Intensidad de emisiones de metano	0.33 toneladas métricas CO2E/MMCF	Reducción del 75% para 2025
Emisiones totales de metano	14,200 toneladas métricas CO2E	Reducción continua

Estrategias de gestión del agua y conservación en fractura hidráulica

Los recursos de antero reciclaban el 100% del flujo de flujo y produjeron agua en 2022, totalizando aproximadamente 35 millones de barriles de agua reciclada.

Métrica de gestión del agua	Datos 2022
El agua total reciclada	35 millones de barriles
Tasa de reciclaje	100%
Reducción del uso de agua dulce	85% en comparación con 2015

Protección del ecosistema y esfuerzos de rehabilitación de tierras

En 2022, Antero Resources reclamó 1.200 acres de tierra e implementó medidas de conservación de biodiversidad en sus áreas operativas.

Métrica de rehabilitación de tierras	Rendimiento 2022
Total de la tierra recuperada	1.200 acres
Proyectos de restauración de hábitat	5 iniciativas principales
Especies nativas replantando	50,000 plantas

Inversión en energía renovable y prácticas sostenibles

Antero Resources invirtió $ 45 millones en tecnología sostenible e integración de energía renovable en 2022.

Inversión de sostenibilidad	Cantidad de 2022
Inversión total de tecnología sostenible	$ 45 millones
Proyectos de energía renovable	3 iniciativas principales
Compra de compensación de carbono	250,000 créditos de carbono

Antero Resources Corporation (AR) - PESTLE Analysis: Social factors

You're looking at how public perception, investor demands, and community relations are shaping Antero Resources' strategy right now, heading into 2026. Honestly, the social landscape is a mix of massive opportunity driven by tech demand and intense pressure on how you operate.

Growing demand for natural gas from AI-driven data centers and industrial electrification

The biggest tailwind right now is the sheer power hunger of Artificial Intelligence. Data centers are demanding reliable, 24/7 power, and natural gas is stepping up as the go-to balancing resource. Industry projections show AI data centers are set to consume the equivalent of ~1.9 bcf/d of natural gas by 2025, up from ~1.1 bcf/d in 2023. This isn't just a blip; it reinforces the need for producers like Antero Resources.

The U.S. power grid is feeling the strain, with projected consumption hitting 4,189 billion kWh in 2025. Natural gas remains the single largest fuel source, accounting for 42% of that mix. So, while the long-term energy transition continues, the near-term reality is that your product is essential for powering the digital economy. This demand pressure is helping firm up prices; Moody's expected Henry Hub to trade above $3.00/MMBtu in 2025.

Increased investor scrutiny on ESG performance and corporate governance standards

Investors aren't just looking at the balance sheet anymore; they want to see a credible path forward on Environmental, Social, and Governance (ESG) issues. Antero Resources set an ambitious 2025 ESG Goal to achieve Net Zero Scope 1 & 2 GHG Emissions, building on past success where Scope 1 GHG intensity was reduced by 66% from 2019 levels as of 2024.

Governance is key to earning trust. To be fair, tying executive pay to these goals shows you're serious-15% of executive target annual incentive compensation is linked to ESG performance. Still, the market watches closely to ensure these targets are met, not just stated. If onboarding takes 14+ days, churn risk rises for investor confidence.

Here's a quick look at how Antero Resources is balancing capital returns with operational performance metrics relevant to ESG scrutiny:

Metric Category	Key Data Point	Value/Target
Shareholder Return (YTD Q3 2025)	Aggregate Share Repurchases	$163 million
Governance	Executive Comp Tied to ESG	15%
Environmental (2025 Goal)	Net Zero Scope 1 & 2 GHG Emissions	Target Achieved by 2025
Social (2024 Performance)	Workforce Recordable Incidents Reduction (since 2020)	25%

Focus on Appalachian region community investment and job creation in West Virginia and Ohio

Operating in the Marcellus and Utica shales means your social license to operate is tied directly to the well-being of West Virginia and Ohio communities. Antero Resources consistently emphasizes its role as a local economic engine, bringing hundreds of jobs to the region. This isn't just about royalties; it's about tangible local investment.

The Antero Foundation, a joint effort with Antero Midstream, is a concrete example of this focus, having donated more than $4.2 million to local causes since its 2020 launch. What this estimate hides is the ongoing, less-publicized support, like the $112 million in property and severance taxes paid to WV and OH in 2020. You need to keep showing up for these communities.

• Bring hundreds of jobs to West Virginia and Ohio.
• Invest in local nonprofits via The Antero Foundation.
• Pay significant local property and severance taxes.

Share repurchase program shows commitment to shareholder returns

Management is definitely signaling confidence in the current valuation and cash flow generation by actively returning capital to you, the shareholder. Year-to-date through the third quarter of 2025, Antero Resources bought back 4.7 million shares for an aggregate of $163 million. That's a clear action, not just talk.

This buyback activity is supported by strong cash generation, though Q3 2025 free cash flow before working capital was a relatively low $70 million. Still, the company had substantial capacity left on its program-approximately $915 million remaining as of Q3 2025. This suggests management sees significant value in their own stock at current levels, which is a strong signal for investors.

Finance: draft 13-week cash view by Friday.

Antero Resources Corporation (AR) - PESTLE Analysis: Technological factors

You're looking at how Antero Resources Corporation is using technology to squeeze more output from every dollar spent, and honestly, the results for 2025 are impressive. The core story here is that superior engineering and process refinement mean the company can grow production while spending less on drilling and completion (D&C). This operational leverage is a huge technological advantage in a capital-constrained environment.

Continued capital efficiency allows for a reduced D&C budget while increasing production guidance

Antero Resources is definitely winning the efficiency game. They've managed to lower their projected D&C capital expenditure for the full year 2025 to a range of $650 to $675 million, down from earlier estimates, all while simultaneously hiking their full-year production guidance to the high end of 3.4 to 3.45 Bcfe/d. Here's the quick math that shows the impact: their estimated 2025 D&C capital per unit of production sits at $0.54, which is significantly better than the peer average of $0.74. What this estimate hides is that these efficiency gains are also reflected in a 26% reduction in maintenance capital compared to 2023 guidance. This is technology translating directly to the bottom line; it's smart capital deployment.

Utilizes a lean two-rig program to drill 50-55 wells and complete 60-65 wells in 2025

The company is sticking to a lean operational footprint, using just a two-rig program to manage its development schedule for 2025. This controlled activity level is key to maintaining capital discipline. The plan is to drill between 50 to 55 net wells but complete between 60 to 65 net wells. That difference, completing more than they drill, shows they are effectively working down their inventory of drilled but uncompleted (DUC) wells, which is a highly capital-efficient way to bring on new volumes without incurring the full upfront drilling cost again.

Achieved high-efficiency completion rates, averaging 12.2 stages per day

The pace of well completion is a direct measure of technological adoption in the field. While the full-year 2024 average completion rate was 12.2 stages per day, Antero Resources has clearly accelerated that pace in 2025. In the first quarter of 2025, they hit 12.3 stages per day, but the real highlight came in the third quarter, where they set a new company record, averaging 14.5 completion stages per day. If onboarding takes 14+ days, churn risk rises, but these high rates mean faster cash flow realization from new wells.

Focus on long-lateral development, with new Marcellus wells averaging over 13,500 feet

The technology isn't just about speed; it's about maximizing the contact area with the reservoir. Antero Resources is pushing the limits on lateral length in the Marcellus Shale. Wells placed to sales in the second quarter of 2025 averaged a substantial 13,500 feet. By the third quarter, that average had climbed even higher to 16,130 feet. To be fair, they even set a new company record by drilling a lateral of more than 22,000 lateral feet. This focus on longer laterals, combined with efficiency gains, is what drives the stronger well performance that allowed them to raise production guidance.

Here is a snapshot of Antero Resources Corporation's key 2025 operational technology metrics:

Metric	2025 Guidance/Actual Data	Context
D&C Capital Budget (Full Year)	$650 to $675 million	Reduced capital spend due to efficiency
Net Production Guidance (Average)	3.4 to 3.45 Bcfe/d	Increased guidance driven by strong well performance
Wells to be Drilled (Net)	50 to 55	Maintained within a two-rig program
Wells to be Completed (Net)	60 to 65	Working down DUC inventory
Peak Completion Rate (Q3 2025)	14.5 stages per day	New company record for efficiency
Average Marcellus Lateral Length (Q3 2025)	16,130 feet	Exceeding the 13,500 feet Q2 average

Finance: draft 13-week cash view by Friday.

Antero Resources Corporation (AR) - PESTLE Analysis: Legal factors

You're navigating an increasingly complex regulatory environment where compliance costs and legal uncertainty can directly impact your capital deployment schedule. Honestly, the legal landscape for Antero Resources right now is defined by two main forces: the evolving rules on emissions and the ongoing litigation that shapes operational boundaries in the Appalachian basin.

The direct takeaway is that while Antero Resources has proactively aligned with disclosure standards, the real near-term risk lies in the implementation and legal challenges surrounding new federal methane rules, which could force unexpected operational expenditures.

Evolving Methane Emission Control Regulations

The federal regulation of methane from oil and gas facilities remains a hot-button legal issue. The EPA finalized more stringent rules in December 2023, known as OOOOb for new/modified facilities and OOOOc for existing sources, which are currently in effect. States have a two-year window to submit their own plans to control existing source emissions, and these federal rules are subject to ongoing legal challenges, meaning the final compliance cost is still a moving target.

What this estimate hides is the potential for fines and penalties if violations occur, though compliance with the EPA's rules could exempt Antero Resources from the methane fee imposed under the Inflation Reduction Act of 2022.

• Enhanced leak detection survey requirements are now standard.
• Expect mandates for emission reduction by 95% via capture systems.
• A new super emitter response program is in place.

It's a tricky balance to strike. Compliance is mandatory, but the rules themselves are still being tested in court.

Adherence to Climate Disclosure Standards

On the transparency front, Antero Resources has been ahead of the curve, which is a positive for investor relations and capital access. The company began reporting to the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) standards in its 2020 ESG Report. In 2025, this alignment is crucial as global standards, like those from the International Sustainability Standards Board (ISSB), build upon these frameworks.

Antero Resources' 2025 ESG Goals include maintaining this alignment, showing a commitment to disclosing climate-related financial risks and sector-specific material sustainability metrics. This proactive stance helps manage legal risk associated with greenwashing claims and meets the growing demands of financially-literate stakeholders.

Permitting Delays and Basin Regulatory Challenges

Operating in the Appalachian basin means dealing with a patchwork of state and local regulations that can slow down your development timeline. In Pennsylvania, for example, proposed revisions to well permitting could make the process more lengthy and expensive, requiring notification to multiple agencies for potential impacts on public resources like rivers or water supplies.

Furthermore, legal precedents, like the Pennsylvania Supreme Court's decision in Robinson Twp. v. Commonwealth of Pennsylvania, continue to redefine the regulatory jurisdiction between state and local governments, creating operational uncertainty. Still, Antero Resources has shown it can successfully challenge regulatory bodies; for instance, in 2025, the company won a petition to vacate a Federal Energy Regulatory Commission (FERC) order that resulted in Antero paying fuel rates two to three times higher than other shippers on the Tennessee Gas Pipeline's Broad Run Pathway.

If onboarding new well sites takes longer than anticipated due to these state-level reviews, your planned production ramp-up for late 2025 and early 2026 will definitely be impacted.

Hedging Program Mitigates Price Volatility

To counter the inherent price volatility in the commodity markets, Antero Resources maintains a robust hedging program, which is a key legal and financial risk mitigation tool. For the 2026 fiscal year, management has locked in significant downside protection for expected natural gas volumes.

Here's the quick math on the current 2026 natural gas swap position, which helps secure a base level of free cash flow, even if prices drop.

Hedge Instrument	Hedged % of Expected 2026 Volumes	Price Reference
Natural Gas Swaps	24%	$3.82/MMBtu
Natural Gas Wide Collars	20%	Floor: $3.22/MMBtu; Ceiling: $5.83/MMBtu

This hedging strategy is defintely designed to lock in attractive rates of return on planned lean gas development, providing a predictable cash flow floor for financing capital efficiency goals.

Finance: draft 13-week cash view by Friday, incorporating the impact of potential increased compliance costs from the new EPA methane rules.

Antero Resources Corporation (AR) - PESTLE Analysis: Environmental factors

You're looking at how Antero Resources Corporation is tackling the environmental pressures that are reshaping the energy sector, and honestly, their stated targets are aggressive for a 2025 finish line. The big one here is the goal to achieve Net Zero Scope 1 & 2 GHG Emissions by 2025, which they plan to hit purely through operational initiatives, not just buying offsets. This isn't just talk; they've already made serious headway.

To give you a sense of the progress leading into this critical year, Antero Resources has already achieved a 62% reduction in Scope 1 and 2 GHG Emissions when measured against their 2019 baseline. That's a substantial drop achieved through real-world changes in how they operate their assets. It shows a commitment to decarbonization that goes beyond just setting a distant 2050 target.

Key 2025 Environmental Performance Indicators

The focus on methane is intense because, as you know, methane (natural gas) leakage is a major climate concern for the industry. Antero Resources set a clear target to reduce its methane leak loss rate by 50% to get it under 0.025%. Here's how their progress stacks up against their 2025 targets, based on the latest available reports:

Environmental Metric	2019 Baseline/Target	Progress/Latest Reported Value
Scope 1 & 2 GHG Emissions Reduction (from 2019)	Goal: Net Zero by 2025	62% Reduction Achieved
Methane Leak Loss Rate Reduction	50% reduction to under 0.025%	78% Reduction Achieved from 2019
Scope 1 GHG Intensity Reduction	10% reduction to below 2.0 metric tons CO2e per MBOE	66% Reduction Achieved from 2019

What this estimate hides is the capital expenditure required to maintain this pace; these reductions aren't free, they require ongoing investment in leak detection and repair (LDAR) programs and equipment upgrades. Still, the 78% reduction in methane leak loss rate already achieved is a powerful data point showing they are well ahead of their 50% target.

Water Stewardship and Recycling Commitment

When we talk about water, the hydraulic fracturing process demands a lot of it, so managing that cycle is crucial for both cost control and environmental impact. Antero Resources has a stated commitment to recycle 100% of flowback and produced water, which is the ultimate goal to minimize freshwater usage. This strategy is heavily supported by their affiliate, Antero Midstream, which operates the water infrastructure.

To be fair, achieving a perfect 100% across all operations in a given year can be tough, but the trend is clear. For instance, in 2024, Antero Midstream reported recycling approximately 89% of the total wastewater received from Antero Resources. That's a massive volume being kept out of disposal wells, which also helps avoid significant truck traffic-in 2024 alone, their water delivery system eliminated about 14.4 million miles of truck travel.

Here are the core actions driving their water conservation:

• Minimize reliance on freshwater sources.
• Actively promote produced water reuse.
• Partner with Antero Midstream for treatment.
• Strive for excellence in pollution prevention.

If onboarding new water recycling capacity takes longer than expected, the risk of increased freshwater reliance rises. Finance: draft 13-week cash view by Friday.