Antero resources hedging forex

The contiguous nature of our leasehold and the lack of geologic complexity are critical to our ability to drill long laterals. Additionally, since June , we have shortened our average frac stage lengths on many of our Marcellus Shale wells from feet per stage historically to to feet per stage.

We have implemented operational efficiencies to continue lowering our costs, such as i pad drilling, ii development of an extensive water pipeline system, iii the use of less expensive, shallow vertical drilling rigs to drill to the kick-off point of the horizontal wellbore, iv the use of natural gas powered rigs and v our proactive approach to meeting our gathering, processing and compression infrastructure needs. We believe our commitment to midstream infrastructure allows us to commercialize our production more quickly at optimal prices, making us a logical consolidator of additional acreage in our core areas.

After the completion of this offering and the recent increase in lender commitments under our credit facility, together with our operating cash flow and hedging program, we believe we will have the financial flexibility to pursue our currently planned and development and delineation drilling activities.

We believe our management team's experience and expertise across multiple resource plays provides a distinct competitive advantage. Our officers have an average of over 30 years of industry experience in the Rocky Mountain, Midcontinent and Appalachian operating regions and have successfully built, grown and sold two unconventional resource-focused upstream companies and one midstream company in the past 15 years.

Additionally, our technical team has drilled over horizontal wells in the Table of Contents Barnett, Woodford, Marcellus and Utica Shales over the past ten years. Our management team has a significant economic interest in us through their interest in our controlling stockholder, Antero Resources Investment LLC, or Antero Investment.

Management's percentage interest in our stock held by Antero Investment may increase over time, without diluting public investors, if our stock price appreciates following this offering. We believe our management team's ability to increase their economic interest in us provides significant incentives to grow our stock price for the benefit of all stockholders. With 15 rigs running in the Marcellus Shale, we are currently the most active driller in the area based on information from RigData.

We continually monitor and adjust our drilling program with the objective of achieving the highest total returns on our portfolio of drilling opportunities. We believe that we will achieve this objective by i minimizing the capital costs of drilling and completing horizontal wells, ii maximizing well production and recoveries by optimizing lateral length, the number of frac stages, perforation intervals and the type of fracture stimulation employed, iii targeting specific BTU windows within our leasehold position to optimize our hydrocarbon mix based on the existing commodity price environment, iv minimizing operating costs through efficient well management, and v pursuing infrastructure initiatives, such as the development of our extensive water pipeline system and gas gathering system.

We expect to continue to meaningfully increase our liquids production from the NGLs, oil and condensate associated with our growing natural gas production. We endeavor to ensure that we have sufficient processing capacity in place to recover NGLs when economically desirable.

We have also secured long-term firm takeaway capacity and firm sales on major pipelines that are in existence or currently under construction in our core operating areas to accommodate our growing production and to manage basis differentials. Further, we plan to maximize the value of our NGLs through processing and marketing agreements with transporters and NGL end users.

We intend to continue identifying and acquiring additional acreage and producing assets in our core areas in the Marcellus and Utica Shales. We believe that by managing a large team of dedicated landmen, we have a competitive advantage that enables us to continue to opportunistically add acreage to our core positions. This team of landmen has allowed us to build a large, contiguous acreage position in our Marcellus and Utica Shale plays, making us the logical acreage consolidator in our core areas.

We initially targeted and acquired , net acres in the Marcellus Shale in , based on specific geologic and technical analysis, and have selectively built our position to approximately , net acres. We started building our targeted Utica Shale acreage position in the fourth quarter of and currently have approximately , net acres of leasehold in the core of the liquids-rich window in Ohio.

We expect to continue to maintain an active hedging program designed to mitigate volatility in commodity prices and regional basis differentials and to protect our expected future cash flows. Risk Factors An investment in our common stock involves a number of risks. You should carefully consider, in addition to the other information contained in this prospectus, the risks described in "Risk Factors" before investing in our common stock.

These risks could materially affect our business, financial condition and results of operations, and cause the trading price of our common stock to decline. You could lose part or all of your investment. The company is waiting for the approval of the tariff file presented to the regulator during the 2Q22 which includes the expenses from hedging operations. Fitch base case for TGI includes pressures in EBITDA generation in the medium to long-term, given the regulatory reset and reduction in contracted capacity, while capex considers existing assets, in-construction projects and those more likely to be executed by TGI.

Leverage Increases: TGI's gross leverage is expected to reach 3. Fitch's base case scenario assumes the new instrument will not be subordinated and rank pari-passu with the outstanding USD million senior unsecured notes. Medium-term leverage is forecasted to remain below 3. The company's ability to replenish its contracted capacity and maintain a healthy capital structure will be key to preserve its SCP in the medium to long term.

TGI is rated one notch above Promigas, given its more conservative capital structure, with leverage levels below 3x over the rating horizon, while Promigas' leverage will be 3. Nevertheless, Promigas' business diversification that combines natural gas transportation and distribution, as well electricity distribution strengthens its business position. On the other hand, TGI's ratting are one notch below TGP, as this company has a higher EBITDA visibility, with revenues that derives from long-term ship or pay contracts with an average remaining life of around 13 years, while TGI's average contract length is four years.

Therefore, Fitch considers it unlikely that both companies will have different credit profiles. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. Liquidity and Debt Structure Strong Liquidity: TGI's liquidity remains strong, supported by cash on hand, predictable cash from operation and a manageable debt maturity schedule, with the vast majority of the current balance maturing in As of June 30, , the company had USD million of cash-on-hand with no senior debt maturing in the short-term.

Resources forex antero hedging corbett sightseeing places in singapore

You inquisitive cryptocurrency ico list regret

The company currently ranks 63th on the Fortune Today, Antero Resources employs over people. The latter owns and operates gathering pipeline, compression, fractionation, processing, and water handling and treatment assets. The company prides itself on its sound relations with its stakeholders, the surface and mineral owners. It also values its working relationships with federal regulatory bodies in all its areas of operation.

It has a deep respect for the land and is committed to its preservation for future generations. It is dedicated limited disturbance of the land and to safety in all its operations. The company therefore works closely with surface owners to minimize the impact of its operations. It also focuses on the preservation of the environment, and always puts people and the community first. Its operational culture is characterized by its dedication to safety and environmental stewardship.

Register Now During the company's fourth-quarter earnings call, CFO Michael Kennedy told analysts that Antero is "currently the least hedged in our company history. The producer has no intention of putting any additional hedges in place in the foreseeable future either, CEO Paul Rady said. We don't want to hedge into a backwardated curve. The company's firm transportation contracts are insurance against the risk of basis blowouts, as a difficult permitting and construction landscape for new pipelines in the Northeast has increased the possibility of production exceeding takeaway capacity.

The ability to move gas out of basin "will continue to prove valuable with the delay in Mountain Valley Pipeline and likely limited infrastructure being built in Appalachia going forward," Kennedy said. Two-thirds of Antero's firm transport contracts, or around 2. The company estimated that Antero holds 1, of approximately 4, undeveloped premium locations in the basin, according to the Feb.