Antero Resources (AR) 10-Q29 Apr 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	Apr. 24, 2015
Document and Entity Information
Entity Registrant Name	ANTERO RESOURCES Corp
Entity Central Index Key	1433270
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		277,003,356
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$185,491	$245,979
Accounts receivable, net of allowance for doubtful accounts of $1,251 in 2014 and 2015, respectively	118,410	116,203
Accrued revenue	165,904	191,558
Derivative instruments	713,966	692,554
Other current assets	4,259	5,866
Total current assets	1,188,030	1,252,160
Natural gas properties, at cost (successful efforts method):
Unproved properties	2,053,669	2,060,936
Proved properties	7,013,366	6,515,221
Fresh water distribution systems	433,632	421,012
Gathering systems and facilities	1,270,635	1,197,239
Other property and equipment	41,136	37,687
Property and equipment, gross	10,812,438	10,232,095
Less accumulated depletion, depreciation, and amortization	-1,061,943	-879,643
Property and equipment, net	9,750,495	9,352,452
Derivative instruments	1,453,300	899,997
Other assets, net	90,126	68,886
Total assets	12,481,951	11,573,495
Current liabilities:
Accounts payable	352,477	531,564
Accrued liabilities	235,069	168,614
Revenue distributions payable	183,455	182,352
Deferred income tax liability	269,822	260,373
Other current liabilities	13,170	12,202
Total current liabilities	1,053,993	1,155,105
Long-term liabilities:
Long-term debt	4,172,295	4,362,550
Deferred income tax liability	772,312	534,423
Other liabilities	49,076	47,587
Total liabilities	6,047,676	6,099,665
Commitments and contingencies (notes 8)
Stockholders'/Members' Equity:
Common stock, $0.01 par value; authorized - 1,000,000,000 shares; issued and outstanding 262,071,642 shares and 276,775,293 shares, respectively	2,768	2,621
Additional paid-in capital	4,078,068	3,513,725
Accumulated earnings	1,261,878	867,447
Total stockholders' equity	5,342,714	4,383,793
Noncontrolling interest in consolidated subsidiary	1,091,561	1,090,037
Total equity	6,434,275	5,473,830
Total liabilities and equity	$12,481,951	$11,573,495

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Condensed Consolidated Balance Sheets
Accounts receivable, net of allowance for doubtful accounts	$1,251	$1,251
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized shares	1,000,000,000	1,000,000,000
Common stock, shares issued	276,775,293	262,071,642
Common stock, shares outstanding	276,775,293	276,071,642
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized shares	50,000,000	50,000,000
Preferred stock, shares issued	0	0

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Natural gas sales	$314,942	$312,336
Natural gas liquids sales	78,786	73,928
Oil sales	12,457	24,122
Gathering, compression and water distribution	6,168	3,524
Marketing	57,780	3,226
Commodity derivative fair value gains (losses)	759,554	-248,929
Total revenue	1,229,687	168,207
Operating expenses:
Lease operating	8,102	4,869
Gathering, compression, processing, and transportation	163,662	83,510
Production and ad valorem taxes	24,218	21,039
Marketing	73,349	11,981
Exploration	1,371	6,997
Impairment of unproved properties	8,577	1,397
Depletion, depreciation, and amortization	182,300	91,206
Accretion of asset retirement obligations	400	302
General and administrative (including equity-based compensation expense of $29,137 and $27,783 iin 2014 and 2015, respectively)	59,049	50,985
Contract termination and rig stacking	8,965
Total operating expenses	529,993	272,286
Operating income	699,694	-104,079
Other expenses:
Interest	-53,185	-31,342
Income (loss) before income taxes	646,509	-135,421
Provision for income tax expense	-247,338	40,662
Net income (loss) and comprehensive income (loss) including noncontrolling interest	399,171	-94,759
Net income and comprehensive income attributable to noncontrolling interest	4,740
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$394,431	($94,759)
Earnings (loss) per common share:
Earnings (loss) per common share	$1.49	($0.36)
Earnings (loss) per common sharebassuming dilution
Earnings (loss) per common share--assuming dilution	$1.49	($0.36)
Weighted average number of shares outstanding
Basic (in dollars per share)	265,294,794	262,049,659
Diluted (in dollars per share)	265,300,080	262,049,659

Consolidated_Statements_of_Ope1

Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Consolidated Statements of Operations and Comprehensive Loss
Equity-based compensation expense	$27,783	$29,137

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (USD $)	Common Stock	Additional paid-in capital	Accumulated (deficit) earnings	Noncontrolling Interests	Total
In Thousands, unless otherwise specified	Common Stock	Additional paid-in capital	Accumulated (deficit) earnings	Noncontrolling Interests	Total
Balances at Dec. 31, 2014	$2,621	$3,513,725	$867,447	$1,090,037	$5,473,830
Increase (Decrease) in Stockholders' Equity
Issuance of 14,700,000 shares of common stock in public offering, net of underwriter discounts and offering costs	147	537,728			537,875
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income tax withholdings		-46			-46
Equity-based compensation		26,661		1,122	27,783
Net income and comprehensive income			394,431	4,740	399,171
Distributions to non-controlling interests				4,338	4,338
Balances at Mar. 31, 2015	$2,768	$4,078,068	$1,261,878	$1,091,561	$6,434,275

Consolidated_Statements_of_Equ1

Consolidated Statements of Equity (Parenthetical)	3 Months Ended
Consolidated Statements of Equity (Parenthetical)	Mar. 31, 2015
Increase (Decrease) in Stockholders' Equity
Number of additional shares of common stock issued (in shares)	14,700,000

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income (loss) including noncontrolling interest	$399,171	($94,759)
Adjustment to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion	182,700	91,508
Impairment of unproved properties	8,577	1,397
Derivative fair value (gains) losses	759,554	-248,929
Cash receipts (payments) for settled derivatives	184,840	-1,071
Deferred income taxes expense (benefit)	247,338	-40,662
Equity-based compensation expense	27,783	29,137
Other	1,602	3,182
Changes in current assets and liabilities:
Accounts receivable	-42,207	3,360
Accrued revenue	25,654	-48,850
Other current assets	1,607	-96
Accounts payable	-513	-5,718
Accrued liabilities	72,588	47,976
Revenue distributions payable	1,103	39,974
Other current liabilities	705
Net cash provided by operating activities	351,394	274,307
Cash flows used in investing activities:
Additions to unproved properties	-51,541	-60,149
Drilling and completion costs	-569,068	-496,221
Additions to fresh water distribution systems	-22,126	-60,030
Additions to gathering systems and facilities	-125,988	-107,523
Additions to other property and equipment	-2,103	-7,783
Change in other assets	-8,410	-3,807
Proceeds from asset sales	40,000
Net cash used in investing activities	-739,236	-735,513
Cash flows from financing activities:
Issuance of common stock	537,875
Issuance of senior notes	750,000
Borrowings (repayments) on bank credit facility, net	-940,000	457,000
Payments of deferred financing costs	-15,022	-701
Distributions to noncontrolling interest in consolidated subsidiary	4,338
Other	-1,161
Net cash provided by financing activities	327,354	456,299
Net decrease in cash and cash equivalents	-60,488	-4,907
Cash and cash equivalents, beginning of period	245,979	17,487
Cash and cash equivalents, end of period	185,491	12,580
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	14,563	13,087
Supplemental disclosure of noncash investing activities:
Increase (decrease) in accounts payable and accrued liabilities for additions to property and equipment	($184,753)	$64,016

Organization

Organization	3 Months Ended
Organization	Mar. 31, 2015
Organization
Organization	(1)Organization

	(a)Business and Organization

	Antero Resources Corporation (individually referred to as “Antero”) and its consolidated subsidiaries (collectively referred to as the “Company”) are engaged in the exploitation, development, and acquisition of natural gas, natural gas liquids (“NGLs”), and oil properties in the Appalachian Basin in West Virginia, Ohio, and Pennsylvania. The Company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies provide the means to economically develop and produce natural gas, NGLs, and oil from unconventional formations. The Company has fresh water distribution operations in the Appalachian Basin, as well as gathering and compression operations through its consolidated subsidiary, Antero Midstream Partners LP (“Antero Midstream”), a publicly-traded limited partnership. The Company’s corporate headquarters are in Denver, Colorado.

	(b)Corporate Reorganization

	Prior to October 16, 2013, the Company’s predecessor, Antero Resources LLC, filed reports with the Securities and Exchange Commission. Antero Resources LLC was formed in October 2009 by members of the Company’s management team and its sponsor investors. Antero Resources LLC owned 100% of the outstanding shares of Antero Resources Appalachian Corporation, which was formed in March 2008 and renamed Antero Resources Corporation in June 2013. In connection with an initial public offering (“IPO”) completed on October 16, 2013, all of the ownership interests in Antero Resources LLC were exchanged for similar interests in a newly formed limited liability company, Antero Resources Investment LLC (“Antero Investment”), and Antero Resources LLC was merged into Antero Resources Corporation. As a result of this reorganization, Antero Investment owned 100% of the 224,375,000 shares of common stock of Antero Resources Corporation issued and outstanding prior to the IPO.

	On October 16, 2013, Antero Resources Corporation issued 37,674,659 additional shares of its common stock at $44.00 per share in the IPO, resulting in proceeds to the Company, net of underwriter discounts and expenses of the offering, of approximately $1.6 billion.

	(c)Profits Interests Awards

	In connection with its formation in October 2009, Antero Resources LLC issued profits interests to Antero Resources Employee Holdings LLC (“Employee Holdings”), which is owned solely by certain of the Company’s officers and employees. These profits interests provide for the participation in distributions upon liquidation events meeting certain requisite financial return thresholds. In turn, Employee Holdings issued membership interests to certain of the Company’s officers and employees. The Employee Holdings interests in Antero Resources LLC were exchanged for similar interests in Antero Investment in connection with the corporate reorganization on October 16, 2013.

	The limited liability company agreement of Antero Investment provides a mechanism that demonstrates how the shares of the Company’s common stock will be allocated among the members of Antero Investment, including Employee Holdings. As a result of the adoption of the Antero Investment Limited Liability company agreement, the satisfaction of all performance and service conditions relative to the profits interest awards held by Employee Holdings in Antero Investment became probable. Accordingly, the Company has recognized approximately $463 million of equity-based compensation expense for the vested profits interests through March 31, 2015 and will recognize approximately $23 million over the remaining service period. Equity-based compensation expense for the profits interests during the three months ended March 31, 2014 and 2015 was $28.7 and $14.7 million, respectively. Because consideration for the profits interest awards is deemed given by Antero Investment, the charge to equity-based compensation expense is accounted for as a capital contribution by Antero Investment to the Company and credited to additional paid-in capital. All available profits interest awards were made prior to the date of the IPO, and no additional profits interest awards will be made.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(2)Summary of Significant Accounting Policies

	(a)Basis of Presentation

	These consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC applicable to interim financial information and should be read in the context of the December 31, 2014 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The December 31, 2014 consolidated financial statements have been filed with the SEC in the Company’s 2014 Form 10-K.

	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, and, accordingly, do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly the Company’s financial position as of March 31, 2015, the results of its operations for the three months ended March 31, 2014 and 2015, and its cash flows for the three months ended March 31, 2014 and 2015. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is identical to its comprehensive income or loss. Operating results for the period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year because of the impact of fluctuations in prices received for natural gas, NGLs, and oil, natural production declines, the uncertainty of exploration and development drilling results, and other factors.

	The Company’s exploration and production activities are accounted for under the successful efforts method.

	As of the date these financial statements were filed with the SEC, the Company completed its evaluation of potential subsequent events for disclosure and no items requiring disclosure were identified except for the grants of restricted stock units and stock options as discussed in note 5.

	(b)Principles of Consolidation

	The accompanying consolidated financial statements include the accounts of Antero Resources Corporation, its wholly-owned subsidiaries, and any entities in which the Company owns a controlling interest. All significant intercompany accounts and transactions have been eliminated in the Company’s consolidated financial statements. Noncontrolling interest in the Company’s consolidated financial statements represents the interests in Antero Midstream which are owned by third-party individuals or entities. An affiliate of the Company owns the general partner interest in Antero Midstream, as well as all of the incentive distribution rights. Noncontrolling interest is included as a component of equity in the Company’s consolidated balance sheets.

	(c)Use of Estimates

	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in facts and circumstances or discovery of new information may result in revised estimates, and actual results could differ from those estimates.

	The Company’s condensed consolidated financial statements are based on a number of significant estimates including estimates of natural gas, NGLs, and oil reserve quantities, which are the basis for the calculation of depletion, depreciation, amortization, and impairment of oil and gas properties. Reserve estimates by their nature are inherently imprecise. Other items in the Company’s consolidated financial statements which involve the use of significant estimates include derivative assets and liabilities, accrued revenue, deferred income taxes, asset retirement obligations, equity-based compensation, and commitments and contingencies.

	(d)Risks and Uncertainties

	Historically, the market for natural gas, NGLs, and oil has experienced significant price fluctuations. Price fluctuations can result from variations in weather, levels of production in the region, availability of transportation capacity to other regions of the country, and various other factors. Increases or decreases in the prices the Company receives for its production could have a significant impact on the Company’s future results of operations.

	(e)Cash and Cash Equivalents

	The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments.

	(f)Derivative Financial Instruments

	In order to manage its exposure to natural gas, NGLs, and oil price volatility, the Company enters into derivative transactions from time to time, including commodity swap agreements, basis swap agreements, collar agreements, and other similar agreements relating to the price risk associated with a portion of its production. To the extent legal right of offset exists with a counterparty, the Company reports derivative assets and liabilities on a net basis. The Company has exposure to credit risk to the extent the counterparty is unable to satisfy its settlement obligations. The fair value of our commodity derivative contracts of approximately $2.2 billion at March 31, 2015 includes the following values by bank counterparty: Citigroup - $406 million; Barclays - $388 million; JP Morgan - $354 million; Credit Suisse - $313 million; Wells Fargo - $258 million; BNP Paribas - $217 million; Scotiabank - $131 million; Toronto Dominion - $49 million; Fifth Third - $37 million; Canadian Imperial Bank of Commerce - $7 million; Bank of Montreal - $4 million; and Morgan Stanley - $3 million. The credit ratings of certain of these banks were downgraded in recent years because of the sovereign debt crisis in Europe. The Company actively monitors the creditworthiness of counterparties and assesses the impact, if any, on its derivative position.

	The Company records derivative instruments on the consolidated balance sheets as either an asset or liability measured at fair value and records changes in the fair value of derivatives in current earnings as they occur. Changes in the fair value of commodity derivatives are classified as revenues on the Company’s condensed consolidated statements of operations. The Company’s derivatives have not been designated as hedges for accounting purposes.

	(g)Income Taxes

	The Company recognizes deferred tax assets and liabilities for temporary differences resulting from net operating loss carryforwards for income tax purposes and the differences between the financial statement and tax basis of assets and liabilities. The effect of changes in the tax laws or tax rates is recognized in income in the period such changes are enacted. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized.

	Unrecognized tax benefits represent potential future tax obligations for uncertain tax positions taken on previously filed tax returns that may not ultimately be sustained. The Company recognizes interest expense related to unrecognized tax benefits in interest expense and fines and penalties for tax-related matters as income tax expense.

	(h)Fair Value Measurements

	FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This guidance also relates to all nonfinancial assets and liabilities that are not recognized or disclosed on a recurring basis (e.g., those measured at fair value in a business combination, the initial recognition of asset retirement obligations, and impairments of proved oil and gas properties, and other long-lived assets). Fair value is the price that the Company estimates would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to prioritize inputs to valuation techniques used to estimate fair value. An asset or liability subject to the fair value requirements is categorized within the hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The highest priority (Level 1) is given to unadjusted, quoted market prices in active markets for identical assets or liabilities, and the lowest priority (Level 3) is given to unobservable inputs. Level 2 inputs are data, other than quoted prices included within Level 1, which are observable for the asset or liability, either directly or indirectly. Instruments which are valued using Level 2 inputs include non-exchange traded derivatives such as over-the-counter commodity price swaps and basis swaps. Valuation models used to measure fair value of these instruments consider various Level 2 inputs including (i) quoted forward prices for commodities, (ii) time value, (iii) quoted forward interest rates, (iv) current market prices and contractual prices for the underlying instruments, (v) risk of nonperformance by the Company and the counterparty, and (vi) other relevant economic measures.

	(i)Industry Segments and Geographic Information

	Management has evaluated how the Company is organized and managed and has identified the following segments: (1) the exploration, development, and production of natural gas, NGLs, and oil; (2) gathering and compression; (3) fresh water distribution and (4) marketing of excess firm transportation capacity.

	All of the Company’s assets are located in the United States and substantially all of its production revenues are attributable to customers located in the United States.

	(j)Marketing Revenues and Expenses

	In 2014, the Company commenced activities to purchase and sell third-party natural gas and NGLs and to market its excess firm transportation capacity in order to utilize this excess capacity. Marketing revenues include sales of purchased third-party gas and NGLs, as well as revenues from the release of firm transportation capacity to others. Marketing expenses include the cost of purchased third-party natural gas and NGLs. The Company classifies firm transportation costs related to capacity contracted for in advance of having sufficient production and infrastructure to fully utilize the capacity (excess capacity) as marketing expenses since it is marketing this excess capacity to third parties. Firm transportation for which the Company has sufficient production capacity (even though it may not use the transportation capacity because of alternative delivery points with more favorable pricing) is considered unutilized capacity. The costs of unutilized capacity are charged to transportation expense.

	(k)Reclassifications

	Certain reclassifications have been made to prior periods’ financial information related to marketing revenues and expenses to conform to the 2015 presentation.

	(l)Earnings (loss) per common share

	Earnings (loss) per common share were calculated based on the weighted average number of shares outstanding of 262,049,659 and 265,294,794 for the three months ended March 31, 2014 and 2015, respectively. Because of the loss incurred for the three months ended March 31, 2014, the effect of outstanding equity awards was antidilutive during such time. Earnings per common share—assuming dilution for the three months ended March 31, 2015 was calculated based on the diluted weighted average number of shares outstanding of 265,300,080, including 5,286 dilutive shares attributable to non-vested restricted stock and restricted stock unit awards.

For the three months ended March 31, 2015, 1,970,774 non-vested shares of restricted stock and restricted stock unit awards and 81,021 stock options were anti-dilutive and therefore excluded from the calculation of diluted earnings per share.

LongTerm_Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2015
Long-Term Debt
Long-Term Debt	(3)Long-Term Debt

	Long-term debt was as follows at December 31, 2014 and March 31, 2015 (in thousands):


		2014		2015
	Antero:
	Bank credit facility(a)	$	1,730,000		790,000
	6.00% senior notes due 2020(c)		525,000		525,000
	5.375% senior notes due 2021(d)		1,000,000		1,000,000
	5.125% senior notes due 2022(e)		1,100,000		1,100,000
	5.625% senior notes due 2023(f)		—		750,000
	Net unamortized premium		7,550		7,295
		$	4,362,550		4,172,295
	Antero Midstream:
	Bank credit facility(b)	$	—	$	—


	(a)Senior Secured Revolving Credit Facility

	Antero has a senior secured revolving bank credit facility (the “Credit Facility”) with a consortium of bank lenders. Borrowings under the Credit Facility are subject to borrowing base limitations based on the collateral value of Antero’s proved properties and commodity hedge positions and are subject to regular semiannual redeterminations. At March 31, 2015, the borrowing base was $4.0 billion and lender commitments were $4.0 billion, including $200 million of commitments under the Water Facility described below. The next redetermination of the borrowing base is scheduled to occur in October 2015. The maturity date of the Credit Facility is May 5, 2019.

	On November 10, 2014, Antero and Antero Water LLC (“Antero Water”) entered into a water credit facility (the “Water Facility”), in order to provide for separate borrowings attributable to Antero’s fresh water distribution business, which contains covenants that are substantially identical to those under the Credit Facility. Borrowings under the Water Facility reduce availability under the Credit Facility on a dollar-for-dollar basis. The Water Facility will mature at the earlier of the sale of Antero Water or its assets to Antero Midstream, or May 12, 2016.

	The Credit Facility and the Water Facility are ratably secured by mortgages on substantially all of Antero’s properties and guarantees from Antero’s restricted subsidiaries, as applicable. The Credit Facility and the Water Facility contain certain covenants, including restrictions on indebtedness and dividends, and, in the case of the Credit Facility, requirements with respect to working capital and interest coverage ratios. Interest is payable at a variable rate based on LIBOR or the prime rate, determined by Antero’s election at the time of borrowing. Antero was in compliance with all of the financial covenants under the Credit Facility as of December 31, 2014 and March 31, 2015.

	As of December 31, 2014, Antero had an outstanding balance under the Credit Facility of $1.73 billion, with a weighted average interest rate of 2.06%, and outstanding letters of credit of $387 million. As of March 31, 2015, Antero had a total outstanding balance under the Credit Facility and Water Facility of $790 million, with a weighted average interest rate of 1.94%, and outstanding letters of credit of $474 million. Commitment fees on the unused portion of the Credit Facility and the Water Facility are due quarterly at rates ranging from 0.375% to 0.50% of the unused portion of the facilities based on utilization.

	(b)Senior Secured Revolving Credit Facility – Antero Midstream

	On November 10, 2014, Antero Midstream entered into a senior secured revolving bank credit facility (the “Midstream Facility”) with a consortium of bank lenders. At March 31, 2015, the maximum amount of the facility was $1.0 billion. The maturity date of the Midstream Facility is November 10, 2019.
	The Midstream Facility is ratably secured by mortgages on substantially all of the properties of Antero Midstream and guarantees from its restricted subsidiaries, as applicable. The Midstream Facility contains certain covenants, including restrictions on indebtedness and certain distributions to owners, and requirements with respect to leverage and interest coverage ratios. Interest is payable at a variable rate based on LIBOR or the prime rate, determined by election at the time of borrowing. Antero Midstream was in compliance with all of the financial covenants under the Midstream Facility as of December 31, 2014 and March 31, 2015.
	As of December 31, 2014 and March 31, 2015, Antero Midstream did not have a balance outstanding under the Midstream Facility. Commitment fees on the unused portion of the Midstream Facility are due quarterly at rates ranging from 0.25% to 0.375% of the unused facility based on utilization.

	(c)6.00% Senior Notes Due 2020

	On November 19, 2012, Antero issued $300 million of 6.00% senior notes due December 1, 2020 (the “2020 notes”) at par. On February 4, 2013, Antero issued an additional $225 million of the 2020 notes at 103% of par. The 2020 notes are unsecured and effectively subordinated to the Credit Facility and the Water Facility to the extent of the value of the collateral securing such facilities. The 2020 notes rank pari passu to Antero’s other outstanding senior notes. The 2020 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero’s wholly-owned subsidiaries and certain of its future restricted subsidiaries. Interest on the 2020 notes is payable on June 1 and December 1 of each year. Antero may redeem all or part of the 2020 notes at any time on or after December 1, 2015 at redemption prices ranging from 104.50% on or after December 1, 2015 to 100.00% on or after December 1, 2018. In addition, on or before December 1, 2015, Antero may redeem up to 35% of the aggregate principal amount of the 2020 notes with the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 106.00% of the principal amount of the 2020 notes, plus accrued interest. At any time prior to December 1, 2015, Antero may redeem the 2020 notes, in whole or in part, at a price equal to 100% of the principal amount of the 2020 notes, plus a “make-whole” premium and accrued interest. If Antero undergoes a change of control, the holders of the 2020 notes will have the right to require Antero to repurchase all or a portion of the notes at a price equal to 101% of the principal amount of the 2020 notes, plus accrued interest.

	(d)5.375% Senior Notes Due 2021

	On November 5, 2013, Antero issued $1 billion of 5.375% senior notes due November 21, 2021 (the “2021 notes”) at par. The 2021 notes are unsecured and effectively subordinated to the Credit Facility and the Water Facility to the extent of the value of the collateral securing such facilities. The 2021 notes rank pari passu to Antero’s other outstanding senior notes. The 2021 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero’s wholly-owned subsidiaries and certain of its future restricted subsidiaries. Interest on the 2021 notes is payable on May 1 and November 1 of each year. Antero may redeem all or part of the 2021 notes at any time on or after November 1, 2016 at redemption prices ranging from 104.031% on or after November 1, 2016 to 100.00% on or after November 1, 2019. In addition, on or before November 1, 2016, Antero may redeem up to 35% of the aggregate principal amount of the 2021 notes with the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 105.375% of the principal amount of the 2021 notes, plus accrued interest. At any time prior to November 1, 2016, Antero may also redeem the 2021 notes, in whole or in part, at a price equal to 100% of the principal amount of the 2021 notes plus a “make-whole” premium and accrued interest. If Antero undergoes a change of control prior to May 1, 2015, it may redeem all, but not less than all, of the 2021 notes at a redemption price equal to 110% of the principal amount of the 2021 notes. If Antero undergoes a change of control, the holders of the 2021 notes will have the right to require Antero to repurchase all or a portion of the notes at a price equal to 101% of the principal amount of the 2021 notes, plus accrued interest.

	(e)5.125% Senior Notes Due 2022

	On May 6, 2014, Antero issued $600 million of 5.125% senior notes due December 1, 2022 (the “2022 notes”) at par. On September 18, 2014, Antero issued an additional $500 million of the 2022 notes at 100.5% of par. The 2022 notes are unsecured and effectively subordinated to the Credit Facility and the Water Facility to the extent of the value of the collateral securing such facilities. The 2022 notes rank pari passu to Antero’s other outstanding senior notes. The 2022 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero’s wholly-owned subsidiaries and certain of its future restricted subsidiaries. Interest on the 2022 notes is payable on June 1 and December 1 of each year. Antero may redeem all or part of the 2022 notes at any time on or after June 1, 2017 at redemption prices ranging from 103.844% on or after June 1, 2017 to 100.00% on or after June 1, 2020. In addition, on or before June 1, 2017, Antero may redeem up to 35% of the aggregate principal amount of the 2022 notes with the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 105.125% of the principal amount of the 2022 notes, plus accrued interest. At any time prior to June 1, 2017, Antero may also redeem the 2022 notes, in whole or in part, at a price equal to 100% of the principal amount of the 2022 notes plus a “make-whole” premium and accrued interest. If Antero undergoes a change of control prior to December 1, 2015, it may redeem all, but not less than all, of the 2022 notes at a redemption price equal to 110% of the principal amount of the 2022 notes. If Antero undergoes a change of control, the holders of the 2022 notes will have the right to require Antero to repurchase all or a portion of the notes at a price equal to 101% of the principal amount of the 2022 notes, plus accrued interest.

	(f)5.625% Senior Notes Due 2023

	On March 17, 2015, Antero issued $750 million of 5.625% senior notes due June 1, 2023 (the “2023 notes”) at par. The 2023 notes are unsecured and effectively subordinated to the Credit Facility and the Water Facility to the extent of the value of the collateral securing such facilities. The 2023 notes rank pari passu to Antero’s other outstanding senior notes. The 2023 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero’s wholly-owned subsidiaries and certain of its future restricted subsidiaries. Interest on the 2023 notes is payable on June 1 and December 1 of each year. Antero may redeem all or part of the 2023 notes at any time on or after June 1, 2018 at redemption prices ranging from 104.219% on or after June 1, 2018 to 100.00% on or after June 1, 2021. In addition, on or before June 1, 2018, Antero may redeem up to 35% of the aggregate principal amount of the 2023 notes with the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 105.625% of the principal amount of the 2023 notes, plus accrued interest. At any time prior to June 1, 2018, Antero may also redeem the 2023 notes, in whole or in part, at a price equal to 100% of the principal amount of the 2023 notes plus a “make-whole” premium and accrued interest. If Antero undergoes a change of control prior to June 1, 2016, it may redeem all, but not less than all, of the 2023 notes at a redemption price equal to 110% of the principal amount of the 2023 notes. If Antero undergoes a change of control, the holders of the 2023 notes will have the right to require Antero to repurchase all or a portion of the notes at a price equal to 101% of the principal amount of the 2023 notes, plus accrued interest.

	(g)Treasury Management Facility

	Antero has a stand-alone revolving note with a lender under the Credit Facility which provides for up to $25 million of cash management obligations in order to facilitate Antero’s daily treasury management. Borrowings under the revolving note are secured by the collateral for the Credit Facility. Borrowings under the facility bear interest at the lender’s prime rate plus 1.0%. The note matures on June 1, 2015. At December 31, 2014 and March 31, 2015, there were no outstanding borrowings under this facility.

Asset_Retirement_Obligations

Asset Retirement Obligations	3 Months Ended
Asset Retirement Obligations	Mar. 31, 2015
Asset Retirement Obligations
Asset Retirement Obligations	(4)Asset Retirement Obligations

	The following is a reconciliation of the Company’s asset retirement obligations for the three months ended March 31, 2015 (in thousands).

	Asset retirement obligations at December 31, 2014	$	16,614
	Obligations incurred for wells drilled		1,309
	Accretion expense		400
	Asset retirement obligations at March 31, 2015	$	18,323

	Asset retirement obligations are included in other liabilities on the condensed consolidated balance sheets.

EquityBased_Compensation

Equity-Based Compensation	3 Months Ended
Equity-Based Compensation	Mar. 31, 2015
Stock-Based Compensation
Equity-Based Compensation	(5)Equity-Based Compensation

	Antero is authorized to grant up to 16,906,500 shares of common stock to employees and directors of the Company under the Antero Resources Corporation Long-Term Incentive Plan (the “Plan”). The Plan allows equity-based compensation awards to be granted in a variety of forms, including stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, dividend equivalent awards, and other types of awards. The terms and conditions of the awards granted are established by the Compensation Committee of Antero’s Board of Directors. A total of 14,765,723 shares were available for future grant under the Plan as of March 31, 2015.

	In connection with the Antero Midstream IPO, Antero Midstream’s general partner adopted the Antero Midstream Partners LP Long-Term Incentive Plan (the “Midstream Plan”), pursuant to which non-employee directors of Antero Midstream’s general partner and certain officers, employees, and consultants of Antero Midstream’s general partner and its affiliates (which include Antero) are eligible to receive awards representing ownership interests in Antero Midstream. An aggregate of 10,000,000 common units may be delivered pursuant to awards under the Midstream Plan, subject to customary adjustments. A total of 7,640,500 common units are available for future grant under the Midstream Plan as of March 31, 2015.

	The Company’s equity-based compensation expense was as follows for the three months ended March 31, 2014 and 2015 (in thousands):



			2014			2015
	Profits interests awards (see note 1)		$	28,689			14,718
	Restricted stock awards			309			8,436
	Stock options			139			129
	Antero Midstream phantom and restricted unit awards			—			4,425
	Common stock issued to directors in lieu of cash compensation			—			75
	Total expense		$	29,137			27,783

	Restricted Stock and Restricted Stock Unit Awards

	Restricted stock and restricted stock unit awards vest subject to the satisfaction of service requirements. Expense related to each restricted stock and restricted stock unit award is recognized on a straight-line basis over the requisite service period of the entire award, less awards expected to be forfeited. The grant date fair values of these awards are determined based on the closing price of the Company’s common stock on the date of the grant. A summary of restricted stock and restricted stock unit awards activity during the three months ended March 31, 2015 is as follows:


					Weighted			Aggregate
					average			Aggregate
			Number of		grant date			intrinsic value
			shares		fair value			(in thousands)
	Total awarded and unvested—December 31, 2014		1,983,673		$	64.71		$	80,497
	Granted		53,386		$	35.18
	Vested		-2,617		$	60.66
	Forfeited		-320		$	37.52
	Total awarded and unvested—March 31, 2015		2,034,122		$	63.94		$	71,845

	Intrinsic values are based on the closing price of the Company’s stock on the referenced dates. Unamortized expense of $97.2 million at March 31, 2015 is expected to be recognized over approximately 3.0 years. On April 15, 2015, the Company granted restricted stock unit awards for 806,717 shares at a grant date fair value of $33.4 million, which will be recognized as expense over vesting periods of approximately 4 years.

	Stock Options

	Stock options granted under the Plan to date vest over periods from one to four years and have a maximum contractual life of 10 years. Expense related to stock options is recognized on a straight-line basis over the requisite service period of the entire award, less awards expected to be forfeited. Stock options are granted with an exercise price equal to the market price of the Company’s common stock on the date of grant. A summary of stock option activity for the three months ended March 31, 2015 is as follows:



								Weighted
					Weighted			average		Intrinsic
					average			remaining		Intrinsic
			Stock		exercise			contractual		value
			options		price			life		(in thousands)
	Outstanding at December 31, 2014		81,021		$	53.92		8.92		$	—
	Options granted		—			—
	Options exercised		—			—
	Options cancelled		—			—
	Options expired		—			—
	Outstanding at March 31, 2015		81,021		$	53.92		8.67		$	—
	Vested or expected to vest as of March 31, 2015		81,021		$	53.92		8.67		$	—
	Exercisable at March 31, 2015		25,339		$	54.15		8.54		$	—

	Intrinsic value is based on the exercise price of the options and the closing price of the Company’s stock on the referenced dates.

	A Black-Scholes option-pricing model is used to determine the grant-date fair value of the Company’s stock options. Expected volatility was derived from the volatility of the historical stock prices of a peer group of similar publicly traded companies’ stock prices. The risk-free interest rate was determined using the implied yield available for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options. A dividend yield of zero was assumed.

	The following table presents information regarding the weighted average fair value for options granted in 2013 and 2014 and the assumptions used to determine fair value.


			2013				2014
	Dividend yield			—	%			—	%
Volatility			35	%			40	%
Risk-free interest rate			1.48	%			1.75	%
Expected life (years)			6.17				5.50
Weighted average fair value of options granted		$	20.20			$	20.55

As of March 31, 2015, there was $0.9 million of unrecognized equity-based compensation expense related to nonvested stock options. That expense is expected to be recognized over a weighted average period of approximately 2.3 years. On April 15, 2015, the Company granted stock option awards for 665,367 shares having a grant date fair value of approximately $9.8 million, which will be recognized as expense over vesting periods of approximately 4 years.

Antero Midstream Partners Phantom and Restricted Unit Awards

Restricted units and phantom units granted by Antero Midstream vest subject to the satisfaction of service requirements, upon the completion of which common units in Antero Midstream are delivered to the holder of the restricted units or phantom units. These restricted and phantom units are treated, for accounting purposes, as if Antero Midstream distributed the units to Antero. Antero recognizes compensation expense as the units are granted to employees, and a portion of the expense is allocated to Antero Midstream. Expense related to each restricted unit and phantom unit award is recognized on a straight-line basis over the requisite service period of the entire award. The grant date fair values of these awards are determined based on the closing price of Antero Midstream’s common units on the date of grant. A summary of restricted unit and phantom unit awards activity during the three months ended March 31, 2015 is as follows:


		Number of		Weighted			Aggregate
		units		average			intrinsic value
				grant date			(in thousands)
				fair value
Total awarded and unvested—December 31, 2014		2,381,440		$	29.00		$	65,490
Granted		—		$	—
Vested		—		$	—
Forfeited		-21,940		$	29.00
Total awarded and unvested—March 31, 2015		2,359,500		$	29.00		$	57,076

Intrinsic values are based on the closing price of Antero Midstream’s common units on the referenced dates. Unamortized expense of $61.6 million at March 31, 2015 is expected to be recognized over a weighted average period of approximately 3.6 years.

Financial_Instruments

Financial Instruments	3 Months Ended
Financial Instruments	Mar. 31, 2015
Financial Instruments
Financial Instruments	(6)Financial Instruments

	The carrying values of accounts receivable and accounts payable at December 31, 2014 and March 31, 2015 approximated market value because of their short-term nature. The carrying values of the amounts outstanding under the Credit Facility and Water Facility at December 31, 2014 and March 31, 2015 approximated fair value because the variable interest rates are reflective of current market conditions.

	Based on Level 2 market data inputs, the fair value of the Company’s senior notes was approximately $2.5 billion at December 31, 2014 and $3.3 billion at March 31, 2015.

	See note 7 for information regarding the fair value of derivative financial instruments.

Derivative_Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Mar. 31, 2015
Derivative Instruments
Derivative Instruments	(7)Derivative Instruments

	(a)Commodity Derivatives

	The Company periodically enters into natural gas, NGLs, and oil derivative contracts with counterparties to hedge the price risk associated with a portion of its production. These derivatives are not held for trading purposes. To the extent that changes occur in the market prices of natural gas, NGLs, and oil, the Company is exposed to market risk on these open contracts. This market risk exposure is generally offset by the change in market prices of natural gas, NGLs, and oil recognized upon the ultimate sale of the Company’s production.

	For the three months ended March 31, 2014 and 2015, the Company was party to various natural gas, NGLs, and oil fixed price swap contracts. When actual commodity prices exceed the fixed price provided by the swap contracts, the Company pays the excess to the counterparty. When actual commodity prices are below the contractually provided fixed price, the Company receives the difference from the counterparty. In addition, the Company has entered into basis swap contracts in order to hedge the difference between the NYMEX index price and a local index price. When the actual differential exceeds the fixed price provided by the basis swap contract, the Company receives the difference from the counterparty; when the differential is less than the fixed price provided by the basis swap contract, the Company pays the difference to the counterparty. The Company’s derivative swap contracts have not been designated as hedges for accounting purposes; therefore, all gains and losses are recognized in the Company’s statements of operations.

	As of March 31, 2015, the Company’s fixed price natural gas, NGLs, and oil swap positions from April 1, 2015 through December 31, 2020 were as follows (abbreviations in the table refer to the index to which the swap position is tied, as follows: TCO=lumbia Gas Transmission; NYMEX=nry Hub; CGTLA=lumbia Gas Louisiana Onshore; CCG=icago City Gate; NYMEX-WTI=st Texas Intermediate; Mont Belvieu-TET=nt Belvieu Propane):


			Natural gas		Oil		Propane		Weighted
			MMbtu/day		Bbls/day		Bbls/day		average index
									price
	Three months ending June 30, 2015:
	TCO ($/MMBtu)		120,000		—		—		$	4.86
	Dominion South ($/MMBtu)		230,000		—		—		$	5.41
	NYMEX ($/MMBtu)		770,000		—		—		$	3.75
	CGTLA ($/MMBtu)		40,000		—		—		$	3.86
	NYMEX-WTI ($/Bbl)		—		3,000		—		$	64.21
	Mont Belvieu-TET ($/Gallon)		—		—		23,000		$	0.60
	Total		1,160,000		3,000		23,000
	Three months ending September 30, 2015:
	TCO ($/MMBtu)		120,000		—		—		$	4.93
	Dominion South ($/MMBtu)		230,000		—		—		$	5.48
	NYMEX ($/MMBtu)		770,000		—		—		$	3.79
	CGTLA ($/MMBtu)		40,000		—		—		$	3.93
	NYMEX-WTI ($/Bbl)		—		3,000		—		$	64.84
	Mont Belvieu-TET ($/Gallon)		—		—		23,000		$	0.62
	Total		1,160,000		3,000		23,000
	Three months ending December 31, 2015:
	TCO ($/MMBtu)		120,000		—		—		$	5.14
	Dominion South ($/MMBtu)		230,000		—		—		$	5.74
	NYMEX ($/MMBtu)		770,000		—		—		$	3.92
	CGTLA ($/MMBtu)		40,000		—		—		$	4.09
	NYMEX-WTI ($/Bbl)		—		3,000		—		$	65.67
	Mont Belvieu-TET ($/Gallon)		—		—		23,000		$	0.64
	Total		1,160,000		3,000		23,000
	Year ending December 31, 2016:
	TCO ($/MMBtu)		60,000				—		$	4.91
	Dominion South ($/MMBtu)		272,500				—		$	5.35
	NYMEX ($/MMBtu)		750,000				—		$	3.66
	CGTLA ($/MMBtu)		170,000				—		$	4.09
	Mont Belvieu-TET ($/Gallon)		—				27,000		$	0.58
	2015 Total		1,252,500				27,000
	Year ending December 31, 2017:
	NYMEX ($/MMBtu)		410,000						$	4.11
	CGTLA ($/MMBtu)		420,000						$	4.27
	CCG ($/MMBtu)		70,000						$	4.57
	2016 Total		900,000
	Year ending December 31, 2018:
	NYMEX ($/MMBtu)		1,192,500						$	4.40
	Year ending December 31, 2019:
	NYMEX ($/MMBtu)		1,347,500						$	4.12
	Year ending December 31, 2020:
	NYMEX ($/MMBtu)		850,000						$	3.85


	As of March 31, 2015, the Company’s natural gas basis swap positions, which settle on the pricing index to basis differential of TCO to the NYMEX Henry Hub natural gas price, are as follows:



			Natural gas		Hedged
			MMbtu/day		Differential

Year ending December 31, 2015:		390,000		$	-0.35

Year ending December 31, 2016:		290,000		$	-0.42

Year ending December 31, 2017:		125,000		$	-0.49

(b)Summary

The following is a summary of the fair values of the Company’s derivative instruments and where such values are recorded in the consolidated balance sheets as of December 31, 2014 and March 31, 2015. None of the Company’s derivative instruments are designated as hedges for accounting purposes.



		December 31, 2014					March 31, 2015
		Balance sheet		Fair value			Balance sheet		Fair value
		location		Fair value			location		Fair value
				(In thousands)					(In thousands)
Asset derivatives not designated as
hedges for accounting purposes:
Commodity contracts		Current assets		$	692,554		Current assets		$	713,966
Commodity contracts		Long-term assets			899,997		Long-term assets			1,453,300

Total asset derivatives					1,592,551					2,167,266

Total liability derivatives					—					—

Net derivatives				$	1,592,551				$	2,167,266


The following table presents the gross amounts of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties, and the resulting net amounts presented in the consolidated balance sheets as of the dates presented, all at fair value (in thousands):



		December 31, 2014									March 31, 2015
		Gross			Gross amounts			Net amounts			Gross		Gross amounts		Net amounts
		amounts on			offset on			of assets			amounts on		offset on		of assets
		balance sheet			balance sheet			on balance			balance sheet		balance sheet		on balance
								sheet							sheet
Commodity derivative assets		$	1,621,665			-29,114			1,592,551		$	2,196,341		-29,075		2,167,266
Commodity derivative liabilities		$	—			—			—		$	—		—		—

The following is a summary of derivative fair value gains (losses) and where such values are recorded in the condensed consolidated statements of operations for the three months ended March 31, 2014 and 2015 (in thousands):


		Statement of		Three months ended March 31,
		operations		Three months ended March 31,
		location		2014			2015
Commodity derivative fair value gains (losses)		Revenue		$	-248,929			759,554

The fair value of commodity derivative instruments was determined using Level 2 inputs.

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2015
Contingencies
Contingencies	(8)Contingencies

	The Company is the subject of two nearly identical lawsuits brought by South Jersey Gas Company and South Jersey Resources Group, LLC (collectively “SJGC”) filed on February 4, 2015 in the Superior Court of New Jersey. The lawsuits have since been consolidated into one case. SJGC are purchasers of some of the Company’s natural gas production under contracts entered into in 2011. Deliveries under the contracts began in October 2011 and the delivery obligation continues through October 2019. SJGC allege that the index prices specified in the contracts, and the index prices at which SJGC paid for deliveries from 2011 through September 2014, are no longer appropriate under the contracts because a market disruption event (as defined by the contract) has occurred and, as a result, a new index price is to be determined by the parties. The lawsuit seeks a reformation of the contracts, compensatory and punitive damages to be determined at trial, and costs and expenses of the actions. Beginning in October 2014, SJGC began paying the Company under indexes unilaterally selected by SJGC and not specified in the contract. The Company contends that no market disruption event has occurred and that SJGC has breached the contracts by failing to pay the Company based on the express price terms of the contracts. The Company further contends that jurisdiction and venue are improper in New Jersey. On March 30, 2015, the Company filed suit against SJGC in United States District Court in Colorado seeking relief for breach of contract, damages in the amounts that SJGC has short paid and continues to short pay, as well as costs of the suit. Through March 31, 2015, the Company estimates that it is owed approximately $14.3 million more than SJGC has paid using the indexes unilaterally selected by them.

	The Company is party to various other legal proceedings and claims in the ordinary course of its business. The Company believes that certain of these matters will be covered by insurance and that the outcome of other matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

Contract_Termination_and_Rig_S

Contract Termination and Rig Stacking	3 Months Ended
Contract Termination and Rig Stacking	Mar. 31, 2015
Contingencies
Contract termination	(9)Contract Termination and Rig Stacking

	During the three months ended March 31, 2015, the Company incurred $9.0 million of costs for the delay or cancelation of drilling contracts with third-party contractors.

Segment_Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2015
Segment Information
Segment Information	(10)Segment Information

	See note 2(i) for a description of the Company’s determination of its reportable segments for 2015. Operating segments are evaluated based on their contribution to consolidated results, which is determined by the respective operating income of each segment. General and administrative expenses are allocated to the gathering and compression and fresh water distribution segments based on estimates of labor and overhead expenditures on those activities. General and administrative expenses related to the marketing segment are not allocated because they are immaterial. Other income, income taxes, and interest expense are primarily managed and evaluated on a consolidated basis. Intersegment sales are at a price which approximates market. Accounting policies for each segment are the same as the Company’s accounting policies described in note 2 to the condensed consolidated financial statements.

	The operating results and assets of the Company’s reportable segments were as follows for the three months ended March 31, 2014 and 2015 (in thousands):


		Exploration		Gathering and	Fresh water	Marketing	Elimination of	Consolidated
		and		compression	distribution		intersegment	total
		production					transactions
	Three months ended March 31, 2014:
	Sales and revenues:
	Third-party	$	161,457	930	2,594	3,226	—	168,207
	Intersegment		—	10,843	22,165	—	-33,008	—
		$	161,457	11,773	24,759	3,226	-33,008	168,207

	Operating expenses:
	Lease operating	$	4,869	—	4,274	—	-4,274	4,869
	Gathering, compression, processing, and transportation		93,412	941	—	—	-10,843	83,510
	Depletion, depreciation, and amortization		82,180	6,108	2,918	—	—	91,206
	General and administrative expense		45,316	3,776	1,893	—	—	50,985
	Other operating expenses		28,678	—	1,057	11,981	—	41,716
	Total		254,455	10,825	10,142	11,981	-15,117	272,286
	Operating income (loss)	$	-92,998	948	14,617	-8,755	-17,891	-104,079
	Segment assets	$	6,175,588	704,529	289,744	—	-35,404	7,134,457
	Capital expenditures for segment assets	$	582,044	107,523	60,030	—	-17,891	731,706





		Exploration		Gathering and	Fresh water	Marketing	Elimination of	Consolidated
		and		compression	distribution		intersegment	total
		production					transactions
	Three months ended March 31, 2015:
	Sales and revenues:
	Third-party	$	1,165,739	2,301	3,867	57,780	—	1,229,687
	Intersegment		350	49,942	30,563	—	-80,855	—
		$	1,166,089	52,243	34,430	57,780	-80,855	1,229,687

	Operating expenses:
	Lease operating	$	7,783	—	6,752	—	-6,433	8,102
	Gathering, compression, processing, and transportation		205,679	7,988	—	—	-50,005	163,662
	Depletion, depreciation, and amortization		161,505	14,675	6,120	—	—	182,300
	General and administrative expense		47,417	9,501	2,418	—	-287	59,049
	Other operating expenses		38,970	3,701	860	73,349	—	116,880
	Total		461,354	35,865	16,150	73,349	-56,725	529,993
	Operating income (loss)	$	704,735	16,378	18,280	-15,569	-24,130	699,694
	Segment assets	$	10,835,973	1,410,631	421,320	28,007	-213,980	12,481,951
	Capital expenditures for segment assets	$	646,842	125,988	22,126	—	-24,130	770,826

Subsidiary_Guarantors

Subsidiary Guarantors	3 Months Ended
Subsidiary Guarantors	Mar. 31, 2015
Subsidiary Guarantors
Subsidiary Guarantors	(11)Subsidiary Guarantors

	Antero’s wholly-owned subsidiaries each have fully and unconditionally guaranteed Antero’s senior notes. Antero Midstream and its subsidiary have been designated unrestricted subsidiaries under the Credit Facility and the indentures governing Antero’s senior notes, and do not guarantee any of Antero’s obligations (see note 3). In the event a subsidiary guarantor is sold or disposed of (whether by merger, consolidation, the sale of a sufficient amount of its capital stock so that it no longer qualifies as a “Subsidiary” of the Company (as defined in the indentures governing the notes) or the sale of all or substantially all of its assets (other than by lease)) and whether or not the subsidiary guarantor is the surviving entity in such transaction to a person which is not Antero or a restricted subsidiary of Antero, such subsidiary guarantor will be released from its obligations under its subsidiary guarantee if the sale or other disposition does not violate the covenants set forth in the indentures governing the notes.

	In addition, a subsidiary guarantor will be released from its obligations under the indentures and its guarantee, upon the release or discharge of the guarantee of other Indebtedness (as defined in the indentures governing the notes) that resulted in the creation of such guarantee, except a release or discharge by or as a result of payment under such guarantee; if Antero designates such subsidiary as an unrestricted subsidiary and such designation complies with the other applicable provisions of the indentures governing the notes or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the notes.

	The following Condensed Consolidating Balance Sheets at December 31, 2014 and March 31, 2015, and the related statements of operations and comprehensive income (loss) and statements of cash flows for the three months ended March 31, 2015 present financial information for Antero on a stand-alone basis (carrying its investment in wholly-owned subsidiaries using the equity method), financial information for the subsidiary guarantors, financial information for the non-guarantor subsidiaries, and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. Antero’s wholly-owned subsidiaries during the three months ended March 31, 2014 had no revenues, expenses, or cash flows. Antero’s wholly-owned subsidiaries are not restricted from making distributions to the Parent.

	Condensed Consolidating Balance Sheets
	December 31, 2014
	(In thousands)



			Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
			Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
	Assets
	Current assets:
	Cash and cash equivalents		$	15,787			—			230,192			—			245,979
	Accounts receivable, net			116,203			—			—			—			116,203
	Intercompany receivables			1,380			—			17,646			-19,026			—
	Accrued revenue			191,558			—			—			—			191,558
	Derivative instruments			692,554			—			—			—			692,554
	Other current assets			5,348			1			518			-1			5,866
	Total current assets			1,022,830			1			248,356			-19,027			1,252,160
	Property and equipment:
	Natural gas properties, at cost (successful efforts method):
	Unproved properties			2,060,936			—			—			—			2,060,936
	Proved properties			6,515,221			—			—			—			6,515,221
	Fresh water distribution systems			421,012			—			—			—			421,012
	Gathering systems and facilities			16,532			—			1,180,707			—			1,197,239
	Other property and equipment			37,687			—			—			—			37,687
				9,051,388			—			1,180,707			—			10,232,095
	Less accumulated depletion, depreciation, and amortization			-828,533			—			-51,110			—			-879,643
	Property and equipment, net			8,222,855			—			1,129,597			—			9,352,452
	Derivative instruments			899,997			—			—			—			899,997
	Investments in subsidiaries			137,423			—			—			-137,423			—
	Other assets, net			51,718			—			17,168			—			68,886
	Total assets		$	10,334,823			1			1,395,121			-156,450			11,573,495

	Liabilities and Equity
	Current liabilities:
	Accounts payable		$	485,628			—			45,936			—			531,564
	Intercompany payable			17,646			—			1,380			-19,026			—
	Accrued liabilities			163,268			—			5,346			—			168,614
	Revenue distributions payable			182,352			—			—			—			182,352
	Deferred income tax liability			260,373			—			—			—			260,373
	Other current liabilities			12,203			—			—			-1			12,202
	Total current liabilities			1,121,470			—			52,662			-19,027			1,155,105
	Long-term liabilities:
	Long-term debt			4,247,550			115,000			—			—			4,362,550
	Deferred income tax liability			534,423			—			—			—			534,423
	Other liabilities			47,587			—			—			—			47,587
	Total liabilities			5,951,030			115,000			52,662			-19,027			6,099,665
	Equity:
	Stockholders' equity:
	Parent net investment			—			-114,999			—			114,999			—
	Partners' capital			—			—			1,342,459			-1,342,459			—
	Common stock			2,621			—			—			—			2,621
	Additional paid-in capital			3,513,725			—			—			—			3,513,725
	Accumulated earnings			867,447			—			—			—			867,447
	Total stockholders' equity			4,383,793			-114,999			1,342,459			-1,227,460			4,383,793
	Noncontrolling interest in consolidated subsidiary			—			—			—			1,090,037			1,090,037
	Total equity			4,383,793			-114,999			1,342,459			-137,423			5,473,830
Total liabilities and equity		$	10,334,823			1			1,395,121			-156,450			11,573,495
Condensed Consolidating Balance Sheet
March 31, 2015
(In thousands)


		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents		$	23,152			—			162,339			—			185,491
Accounts receivable, net			118,410			—			—			—			118,410
Intercompany receivables			2,021			—			18,816			-20,837			—
Accrued revenue			165,904			—			—			—			165,904
Derivative instruments			713,966			—			—			—			713,966
Other current assets			3,903			1			356			-1			4,259
Total current assets			1,027,356			1			181,511			-20,838			1,188,030
Property and equipment:
Natural gas properties, at cost (successful efforts method):
Unproved properties			2,053,669			—			—			—			2,053,669
Proved properties			7,013,366			—			—			—			7,013,366
Fresh water distribution systems			433,632			—			—			—			433,632
Gathering systems and facilities			16,558			—			1,254,077			—			1,270,635
Other property and equipment			41,136			—			—			—			41,136
			9,558,361			—			1,254,077			—			10,812,438
Less accumulated depletion, depreciation, and amortization			-996,251			—			-65,692			—			-1,061,943
Property and equipment, net			8,562,110			—			1,188,385			—			9,750,495
Derivative instruments			1,453,300			—			—			—			1,453,300
Investments in subsidiaries			121,849			—			—			-121,849			—
Other assets, net			65,673			—			24,453			—			90,126
Total assets		$	11,230,288			1			1,394,349			-142,687			12,481,951

Liabilities and Equity
Current liabilities:
Accounts payable		$	318,740			—			33,737			—			352,477
Intercompany payable			18,817			—			2,021			-20,838			—
Accrued liabilities			224,886			—			10,183			—			235,069
Revenue distributions payable			183,455			—			—			—			183,455
Deferred income tax liability			269,822			—			—			—			269,822
Other current liabilities			13,171			—			—			-1			13,170
Total current liabilities			1,028,891			—			45,941			-20,839			1,053,993
Long-term liabilities:
Long-term debt			4,037,295			135,000			—			—			4,172,295
Deferred income tax liability			772,312			—			—			—			772,312
Other liabilities			49,076			—			—			—			49,076
Total liabilities			5,887,574			135,000			45,941			-20,839			6,047,676
Equity:
Stockholders' equity:
Parent net investment			—			-134,999			—			134,999			—
Partners' capital			—			—			1,348,408			-1,348,408			—
Common stock			2,768			—			—			—			2,768
Additional paid-in capital			4,078,068			—			—			—			4,078,068
Accumulated earnings			1,261,878			—			—			—			1,261,878
Total stockholders' equity			5,342,714			-134,999			1,348,408			-1,213,409			5,342,714
Noncontrolling interest in consolidated subsidiary			—			—			—			1,091,561			1,091,561
Total equity			5,342,714			-134,999			1,348,408			-121,848			6,434,275
Total liabilities and equity		$	11,230,288			1			1,394,349			-142,687			12,481,951

Condensed Consolidating Statement of Operations and Comprehensive Income
Three months ended March 31, 2015
(In thousands)


		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue:
Natural gas sales		$	314,942			—			—			—			314,942
Natural gas liquids sales			78,786			—			—			—			78,786
Oil sales			12,457			—			—			—			12,457
Gathering, compression, and water distribution			3,867			—			52,243			-49,942			6,168
Marketing			57,780			—			—			—			57,780
Commodity derivative fair value gains			759,554			—			—			—			759,554
Fee income			276			—			—			-276			—
Total revenue			1,227,662			—			52,243			-50,218			1,229,687
Operating expenses:
Lease operating			8,102			—			—			—			8,102
Gathering, compression, processing, and transportation			205,679			—			7,988			-50,005			163,662
Production and ad valorem taxes			20,517			—			3,701			—			24,218
Marketing			73,349			—			—			—			73,349
Exploration			1,371			—			—			—			1,371
Impairment of unproved properties			8,577			—			—			—			8,577
Depletion, depreciation, and amortization			167,718			—			14,582			—			182,300
Accretion of asset retirement obligations			400			—			—			—			400
General and administrative			49,761			—			9,501			-213			59,049
Contract termination and rig stacking			8,965			—			—			—			8,965
Total operating expenses			544,439			—			35,772			-50,218			529,993
Operating income			683,223			—			16,471			—			699,694
Other income (expenses):
Interest			-52,362			—			-823			—			-53,185
Equity in net income of subsidiaries			10,908			—			—			-10,908			—
Total other expenses			-41,454			—			-823			-10,908			-53,185
Income before income taxes			641,769			—			15,648			-10,908			646,509
Provision for income tax expense			-247,338			—			—			—			-247,338
Net income and comprehensive income including noncontrolling interest			394,431			—			15,648			-10,908			399,171
Net income and comprehensive income attributable to noncontrolling interest			—			—			—			4,740			4,740
Net income and comprehensive income attributable to Antero Resources Corporation		$	394,431			—			15,648			-15,648			394,431

Condensed Consolidating Statement of Cash Flows
Three months ended March 31, 2015
(In thousands)



		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net cash provided by operating activities		$	311,659			—			39,735			—			351,394
Cash flows from investing activities:
Additions to unproved properties			-51,541			—			—			—			-51,541
Drilling and completion costs			-569,068			—			—			—			-569,068
Additions to fresh water distribution systems			-22,126			—			—			—			-22,126
Additions to gathering systems and facilities			-40,251			—			-85,737			—			-125,988
Additions to other property and equipment			-2,103			—			—			—			-2,103
Change in other assets			-895			—			-7,515			—			-8,410
Distributions from guarantor subsidiary			20,000			—			—			-20,000			—
Distributions from non-guarantor subsidiary			9,984			—			—			-9,984			—
Proceeds from asset sales			40,000			—			—			—			40,000
Net cash used in investing activities			-616,000			—			-93,252			-29,984			-739,236
Cash flows from financing activities:
Issuance of common stock			537,875			—			—			—			537,875
Issuance of senior notes			750,000			—			—			—			750,000
Borrowings (repayments) on bank credit facility, net			-960,000			20,000			—			—			-940,000
Payments of deferred financing costs			-15,008			—			-14			—			-15,022
Distributions			—			-20,000			-14,322			29,984			-4,338
Other			-1,161			—			—			—			-1,161
Net cash provided by (used in) financing activities			311,706			—			-14,336			29,984			327,354
Net increase (decrease) in cash and cash equivalents			7,365			—			-67,853			—			-60,488
Cash and cash equivalents, beginning of period			15,787			—			230,192			—			245,979
Cash and cash equivalents, end of period		$	23,152			—			162,339			—			185,491

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2015
Summary of Significant Accounting Policies
Basis of Presentation	(a)Basis of Presentation

	These consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC applicable to interim financial information and should be read in the context of the December 31, 2014 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The December 31, 2014 consolidated financial statements have been filed with the SEC in the Company’s 2014 Form 10-K.

	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, and, accordingly, do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly the Company’s financial position as of March 31, 2015, the results of its operations for the three months ended March 31, 2014 and 2015, and its cash flows for the three months ended March 31, 2014 and 2015. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is identical to its comprehensive income or loss. Operating results for the period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year because of the impact of fluctuations in prices received for natural gas, NGLs, and oil, natural production declines, the uncertainty of exploration and development drilling results, and other factors.

	The Company’s exploration and production activities are accounted for under the successful efforts method.

	As of the date these financial statements were filed with the SEC, the Company completed its evaluation of potential subsequent events for disclosure and no items requiring disclosure were identified except for the grants of restricted stock units and stock options as discussed in note 5.

Principles of Consolidation	(b)Principles of Consolidation

	The accompanying consolidated financial statements include the accounts of Antero Resources Corporation, its wholly-owned subsidiaries, and any entities in which the Company owns a controlling interest. All significant intercompany accounts and transactions have been eliminated in the Company’s consolidated financial statements. Noncontrolling interest in the Company’s consolidated financial statements represents the interests in Antero Midstream which are owned by third-party individuals or entities. An affiliate of the Company owns the general partner interest in Antero Midstream, as well as all of the incentive distribution rights. Noncontrolling interest is included as a component of equity in the Company’s consolidated balance sheets.


Use of Estimates	(c)Use of Estimates

	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in facts and circumstances or discovery of new information may result in revised estimates, and actual results could differ from those estimates.

	The Company’s condensed consolidated financial statements are based on a number of significant estimates including estimates of natural gas, NGLs, and oil reserve quantities, which are the basis for the calculation of depletion, depreciation, amortization, and impairment of oil and gas properties. Reserve estimates by their nature are inherently imprecise. Other items in the Company’s consolidated financial statements which involve the use of significant estimates include derivative assets and liabilities, accrued revenue, deferred income taxes, asset retirement obligations, equity-based compensation, and commitments and contingencies.

Risks and Uncertainties	(d)Risks and Uncertainties

	Historically, the market for natural gas, NGLs, and oil has experienced significant price fluctuations. Price fluctuations can result from variations in weather, levels of production in the region, availability of transportation capacity to other regions of the country, and various other factors. Increases or decreases in the prices the Company receives for its production could have a significant impact on the Company’s future results of operations.

Cash and Cash Equivalents	(e)Cash and Cash Equivalents

	The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments.

Derivative Financial Instruments	(f)Derivative Financial Instruments

	In order to manage its exposure to natural gas, NGLs, and oil price volatility, the Company enters into derivative transactions from time to time, including commodity swap agreements, basis swap agreements, collar agreements, and other similar agreements relating to the price risk associated with a portion of its production. To the extent legal right of offset exists with a counterparty, the Company reports derivative assets and liabilities on a net basis. The Company has exposure to credit risk to the extent the counterparty is unable to satisfy its settlement obligations. The fair value of our commodity derivative contracts of approximately $2.2 billion at March 31, 2015 includes the following values by bank counterparty: Citigroup - $406 million; Barclays - $388 million; JP Morgan - $354 million; Credit Suisse - $313 million; Wells Fargo - $258 million; BNP Paribas - $217 million; Scotiabank - $131 million; Toronto Dominion - $49 million; Fifth Third - $37 million; Canadian Imperial Bank of Commerce - $7 million; Bank of Montreal - $4 million; and Morgan Stanley - $3 million. The credit ratings of certain of these banks were downgraded in recent years because of the sovereign debt crisis in Europe. The Company actively monitors the creditworthiness of counterparties and assesses the impact, if any, on its derivative position.

	The Company records derivative instruments on the consolidated balance sheets as either an asset or liability measured at fair value and records changes in the fair value of derivatives in current earnings as they occur. Changes in the fair value of commodity derivatives are classified as revenues on the Company’s condensed consolidated statements of operations. The Company’s derivatives have not been designated as hedges for accounting purposes.


Income Taxes	(g)Income Taxes

	The Company recognizes deferred tax assets and liabilities for temporary differences resulting from net operating loss carryforwards for income tax purposes and the differences between the financial statement and tax basis of assets and liabilities. The effect of changes in the tax laws or tax rates is recognized in income in the period such changes are enacted. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized.

	Unrecognized tax benefits represent potential future tax obligations for uncertain tax positions taken on previously filed tax returns that may not ultimately be sustained. The Company recognizes interest expense related to unrecognized tax benefits in interest expense and fines and penalties for tax-related matters as income tax expense.

Fair Value Measures	(h)Fair Value Measurements

	FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This guidance also relates to all nonfinancial assets and liabilities that are not recognized or disclosed on a recurring basis (e.g., those measured at fair value in a business combination, the initial recognition of asset retirement obligations, and impairments of proved oil and gas properties, and other long-lived assets). Fair value is the price that the Company estimates would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to prioritize inputs to valuation techniques used to estimate fair value. An asset or liability subject to the fair value requirements is categorized within the hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The highest priority (Level 1) is given to unadjusted, quoted market prices in active markets for identical assets or liabilities, and the lowest priority (Level 3) is given to unobservable inputs. Level 2 inputs are data, other than quoted prices included within Level 1, which are observable for the asset or liability, either directly or indirectly. Instruments which are valued using Level 2 inputs include non-exchange traded derivatives such as over-the-counter commodity price swaps and basis swaps. Valuation models used to measure fair value of these instruments consider various Level 2 inputs including (i) quoted forward prices for commodities, (ii) time value, (iii) quoted forward interest rates, (iv) current market prices and contractual prices for the underlying instruments, (v) risk of nonperformance by the Company and the counterparty, and (vi) other relevant economic measures.

Industry Segments and Geographic Information	(i)Industry Segments and Geographic Information

	Management has evaluated how the Company is organized and managed and has identified the following segments: (1) the exploration, development, and production of natural gas, NGLs, and oil; (2) gathering and compression; (3) fresh water distribution and (4) marketing of excess firm transportation capacity.

	All of the Company’s assets are located in the United States and substantially all of its production revenues are attributable to customers located in the United States.


Marketing Revenues and Expenses	(j)Marketing Revenues and Expenses

	In 2014, the Company commenced activities to purchase and sell third-party natural gas and NGLs and to market its excess firm transportation capacity in order to utilize this excess capacity. Marketing revenues include sales of purchased third-party gas and NGLs, as well as revenues from the release of firm transportation capacity to others. Marketing expenses include the cost of purchased third-party natural gas and NGLs. The Company classifies firm transportation costs related to capacity contracted for in advance of having sufficient production and infrastructure to fully utilize the capacity (excess capacity) as marketing expenses since it is marketing this excess capacity to third parties. Firm transportation for which the Company has sufficient production capacity (even though it may not use the transportation capacity because of alternative delivery points with more favorable pricing) is considered unutilized capacity. The costs of unutilized capacity are charged to transportation expense.

Reclassifications	(k)Reclassifications

	Certain reclassifications have been made to prior periods’ financial information related to marketing revenues and expenses to conform to the 2015 presentation.

Earnings (loss) per common share	(l)Earnings (loss) per common share

	Earnings (loss) per common share were calculated based on the weighted average number of shares outstanding of 262,049,659 and 265,294,794 for the three months ended March 31, 2014 and 2015, respectively. Because of the loss incurred for the three months ended March 31, 2014, the effect of outstanding equity awards was antidilutive during such time. Earnings per common share—assuming dilution for the three months ended March 31, 2015 was calculated based on the diluted weighted average number of shares outstanding of 265,300,080, including 5,286 dilutive shares attributable to non-vested restricted stock and restricted stock unit awards.

	For the three months ended March 31, 2015, 1,970,774 non-vested shares of restricted stock and restricted stock unit awards and 81,021 stock options were anti-dilutive and therefore excluded from the calculation of diluted earnings per share.

LongTerm_Debt_Tables

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2015
Long-Term Debt
Schedule of long-term debt	Long-term debt was as follows at December 31, 2014 and March 31, 2015 (in thousands):


		2014		2015
	Antero:
	Bank credit facility(a)	$	1,730,000		790,000
	6.00% senior notes due 2020(c)		525,000		525,000
	5.375% senior notes due 2021(d)		1,000,000		1,000,000
	5.125% senior notes due 2022(e)		1,100,000		1,100,000
	5.625% senior notes due 2023(f)		—		750,000
	Net unamortized premium		7,550		7,295
		$	4,362,550		4,172,295
	Antero Midstream:
	Bank credit facility(b)	$	—	$	—

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	3 Months Ended
Asset Retirement Obligations (Tables)	Mar. 31, 2015
Asset Retirement Obligations
Schedule of reconciliation of asset retirement obligations	The following is a reconciliation of the Company’s asset retirement obligations for the three months ended March 31, 2015 (in thousands).

	Asset retirement obligations at December 31, 2014	$	16,614
	Obligations incurred for wells drilled		1,309
	Accretion expense		400
	Asset retirement obligations at March 31, 2015	$	18,323

EquityBased_Compensation_Table

Equity-Based Compensation (Tables)	3 Months Ended
Equity-Based Compensation (Tables)	Mar. 31, 2015
Stock-Based Compensation
Schedule of equity-based compensation expense	The Company’s equity-based compensation expense was as follows for the three months ended March 31, 2014 and 2015 (in thousands):



		2014			2015
	Profits interests awards (see note 1)	$	28,689			14,718
	Restricted stock awards		309			8,436
	Stock options		139			129
	Antero Midstream phantom and restricted unit awards		—			4,425
	Common stock issued to directors in lieu of cash compensation		—			75
	Total expense	$	29,137			27,783


Summary of restricted stock and restricted stock unit awards activity
				Weighted			Aggregate
				average			Aggregate
		Number of		grant date			intrinsic value
		shares		fair value			(in thousands)
	Total awarded and unvested—December 31, 2014	1,983,673		$	64.71		$	80,497
	Granted	53,386		$	35.18
	Vested	-2,617		$	60.66
	Forfeited	-320		$	37.52
	Total awarded and unvested—March 31, 2015	2,034,122		$	63.94		$	71,845


Summary of stock option activity
							Weighted
				Weighted			average		Intrinsic
				average			remaining		Intrinsic
		Stock		exercise			contractual		value
		options		price			life		(in thousands)
	Outstanding at December 31, 2014	81,021		$	53.92		8.92		$	—
	Options granted	—			—
	Options exercised	—			—
	Options cancelled	—			—
	Options expired	—			—
	Outstanding at March 31, 2015	81,021		$	53.92		8.67		$	—
	Vested or expected to vest as of March 31, 2015	81,021		$	53.92		8.67		$	—
	Exercisable at March 31, 2015	25,339		$	54.15		8.54		$	—


Schedule of information regarding weighted average fair value of options granted and the assumptions used to determine fair value
		2013				2014
	Dividend yield		—	%			—	%
	Volatility		35	%			40	%
	Risk-free interest rate		1.48	%			1.75	%
	Expected life (years)		6.17				5.50
	Weighted average fair value of options granted	$	20.20			$	20.55


Schedule of outstanding unvested restricted stock awards vesting schedule
		Number of		Weighted			Aggregate
		units		average			intrinsic value
				grant date			(in thousands)
				fair value
	Total awarded and unvested—December 31, 2014	2,381,440		$	29.00		$	65,490
	Granted	—		$	—
	Vested	—		$	—
	Forfeited	-21,940		$	29.00
	Total awarded and unvested—March 31, 2015	2,359,500		$	29.00		$	57,076

Derivative_Instruments_Tables

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Mar. 31, 2015
Derivative Instruments
Schedule of outstanding commodity derivatives
		Natural gas		Oil		Propane		Weighted
		MMbtu/day		Bbls/day		Bbls/day		average index
								price
	Three months ending June 30, 2015:
	TCO ($/MMBtu)	120,000		—		—		$	4.86
	Dominion South ($/MMBtu)	230,000		—		—		$	5.41
	NYMEX ($/MMBtu)	770,000		—		—		$	3.75
	CGTLA ($/MMBtu)	40,000		—		—		$	3.86
	NYMEX-WTI ($/Bbl)	—		3,000		—		$	64.21
	Mont Belvieu-TET ($/Gallon)	—		—		23,000		$	0.60
	Total	1,160,000		3,000		23,000
	Three months ending September 30, 2015:
	TCO ($/MMBtu)	120,000		—		—		$	4.93
	Dominion South ($/MMBtu)	230,000		—		—		$	5.48
	NYMEX ($/MMBtu)	770,000		—		—		$	3.79
	CGTLA ($/MMBtu)	40,000		—		—		$	3.93
	NYMEX-WTI ($/Bbl)	—		3,000		—		$	64.84
	Mont Belvieu-TET ($/Gallon)	—		—		23,000		$	0.62
	Total	1,160,000		3,000		23,000
	Three months ending December 31, 2015:
	TCO ($/MMBtu)	120,000		—		—		$	5.14
	Dominion South ($/MMBtu)	230,000		—		—		$	5.74
	NYMEX ($/MMBtu)	770,000		—		—		$	3.92
	CGTLA ($/MMBtu)	40,000		—		—		$	4.09
	NYMEX-WTI ($/Bbl)	—		3,000		—		$	65.67
	Mont Belvieu-TET ($/Gallon)	—		—		23,000		$	0.64
	Total	1,160,000		3,000		23,000
	Year ending December 31, 2016:
	TCO ($/MMBtu)	60,000				—		$	4.91
	Dominion South ($/MMBtu)	272,500				—		$	5.35
	NYMEX ($/MMBtu)	750,000				—		$	3.66
	CGTLA ($/MMBtu)	170,000				—		$	4.09
	Mont Belvieu-TET ($/Gallon)	—				27,000		$	0.58
	2015 Total	1,252,500				27,000
	Year ending December 31, 2017:
	NYMEX ($/MMBtu)	410,000						$	4.11
	CGTLA ($/MMBtu)	420,000						$	4.27
	CCG ($/MMBtu)	70,000						$	4.57
	2016 Total	900,000
	Year ending December 31, 2018:
	NYMEX ($/MMBtu)	1,192,500						$	4.40
	Year ending December 31, 2019:
	NYMEX ($/MMBtu)	1,347,500						$	4.12
	Year ending December 31, 2020:
	NYMEX ($/MMBtu)	850,000						$	3.85


Tabular disclosure of commodity derivatives basis differential positions which settle on the pricing index to basis differential of Columbia Gas (TCO) to the NYMEX Henry Hub natural gas price.
		Natural gas		Hedged
		MMbtu/day		Differential

	Year ending December 31, 2015:	390,000		$	-0.35

	Year ending December 31, 2016:	290,000		$	-0.42

	Year ending December 31, 2017:	125,000		$	-0.49


Summary of the fair values of derivative instruments, which are not designated as hedges for accounting purposes
		December 31, 2014					March 31, 2015
		Balance sheet		Fair value			Balance sheet		Fair value
		location		Fair value			location		Fair value
				(In thousands)					(In thousands)
	Asset derivatives not designated as
	hedges for accounting purposes:
	Commodity contracts	Current assets		$	692,554		Current assets		$	713,966
	Commodity contracts	Long-term assets			899,997		Long-term assets			1,453,300

	Total asset derivatives				1,592,551					2,167,266

	Total liability derivatives				—					—

	Net derivatives			$	1,592,551				$	2,167,266


Schedule of gross amounts of recognized derivative assets and liabilities, the amounts offset under netting arrangements with counterparties, and the resulting net amounts	The following table presents the gross amounts of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties, and the resulting net amounts presented in the consolidated balance sheets as of the dates presented, all at fair value (in thousands):



		December 31, 2014									March 31, 2015
		Gross			Gross amounts			Net amounts			Gross		Gross amounts		Net amounts
		amounts on			offset on			of assets			amounts on		offset on		of assets
		balance sheet			balance sheet			on balance			balance sheet		balance sheet		on balance
								sheet							sheet
	Commodity derivative assets	$	1,621,665			-29,114			1,592,551		$	2,196,341		-29,075		2,167,266
	Commodity derivative liabilities	$	—			—			—		$	—		—		—


Summary of derivative fair value gains (losses)	The following is a summary of derivative fair value gains (losses) and where such values are recorded in the condensed consolidated statements of operations for the three months ended March 31, 2014 and 2015 (in thousands):


		Statement of		Three months ended March 31,
		operations		Three months ended March 31,
		location		2014			2015
	Commodity derivative fair value gains (losses)	Revenue		$	-248,929			759,554

Subsidiary_Guarantors_Tables

Subsidiary Guarantors (Tables)	3 Months Ended
Subsidiary Guarantors (Tables)	Mar. 31, 2015
Subsidiary Guarantors
Schedule of condensed consolidated balance sheets	Condensed Consolidating Balance Sheets
	December 31, 2014
	(In thousands)



			Parent		Guarantor		Non-Guarantor		Eliminations		Consolidated
			Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
	Assets
	Current assets:
	Cash and cash equivalents		$	15,787		—		230,192		—		245,979
	Accounts receivable, net			116,203		—		—		—		116,203
	Intercompany receivables			1,380		—		17,646		-19,026		—
	Accrued revenue			191,558		—		—		—		191,558
	Derivative instruments			692,554		—		—		—		692,554
	Other current assets			5,348		1		518		-1		5,866
	Total current assets			1,022,830		1		248,356		-19,027		1,252,160
	Property and equipment:
	Natural gas properties, at cost (successful efforts method):
	Unproved properties			2,060,936		—		—		—		2,060,936
	Proved properties			6,515,221		—		—		—		6,515,221
	Fresh water distribution systems			421,012		—		—		—		421,012
	Gathering systems and facilities			16,532		—		1,180,707		—		1,197,239
	Other property and equipment			37,687		—		—		—		37,687
				9,051,388		—		1,180,707		—		10,232,095
	Less accumulated depletion, depreciation, and amortization			-828,533		—		-51,110		—		-879,643
	Property and equipment, net			8,222,855		—		1,129,597		—		9,352,452
	Derivative instruments			899,997		—		—		—		899,997
	Investments in subsidiaries			137,423		—		—		-137,423		—
	Other assets, net			51,718		—		17,168		—		68,886
	Total assets		$	10,334,823		1		1,395,121		-156,450		11,573,495

	Liabilities and Equity
	Current liabilities:
	Accounts payable		$	485,628		—		45,936		—		531,564
	Intercompany payable			17,646		—		1,380		-19,026		—
	Accrued liabilities			163,268		—		5,346		—		168,614
	Revenue distributions payable			182,352		—		—		—		182,352
	Deferred income tax liability			260,373		—		—		—		260,373
	Other current liabilities			12,203		—		—		-1		12,202
	Total current liabilities			1,121,470		—		52,662		-19,027		1,155,105
	Long-term liabilities:
	Long-term debt			4,247,550		115,000		—		—		4,362,550
	Deferred income tax liability			534,423		—		—		—		534,423
	Other liabilities			47,587		—		—		—		47,587
	Total liabilities			5,951,030		115,000		52,662		-19,027		6,099,665
	Equity:
	Stockholders' equity:
	Parent net investment			—		-114,999		—		114,999		—
	Partners' capital			—		—		1,342,459		-1,342,459		—
	Common stock			2,621		—		—		—		2,621
	Additional paid-in capital			3,513,725		—		—		—		3,513,725
	Accumulated earnings			867,447		—		—		—		867,447
	Total stockholders' equity			4,383,793		-114,999		1,342,459		-1,227,460		4,383,793
	Noncontrolling interest in consolidated subsidiary			—		—		—		1,090,037		1,090,037
	Total equity			4,383,793		-114,999		1,342,459		-137,423		5,473,830
	Total liabilities and equity		$	10,334,823		1		1,395,121		-156,450		11,573,495
	Condensed Consolidating Balance Sheet
	March 31, 2015
	(In thousands)


			Parent		Guarantor		Non-Guarantor		Eliminations		Consolidated
			Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents		$	23,152		—		162,339		—		185,491
Accounts receivable, net			118,410		—		—		—		118,410
Intercompany receivables			2,021		—		18,816		-20,837		—
Accrued revenue			165,904		—		—		—		165,904
Derivative instruments			713,966		—		—		—		713,966
Other current assets			3,903		1		356		-1		4,259
Total current assets			1,027,356		1		181,511		-20,838		1,188,030
Property and equipment:
Natural gas properties, at cost (successful efforts method):
Unproved properties			2,053,669		—		—		—		2,053,669
Proved properties			7,013,366		—		—		—		7,013,366
Fresh water distribution systems			433,632		—		—		—		433,632
Gathering systems and facilities			16,558		—		1,254,077		—		1,270,635
Other property and equipment			41,136		—		—		—		41,136
			9,558,361		—		1,254,077		—		10,812,438
Less accumulated depletion, depreciation, and amortization			-996,251		—		-65,692		—		-1,061,943
Property and equipment, net			8,562,110		—		1,188,385		—		9,750,495
Derivative instruments			1,453,300		—		—		—		1,453,300
Investments in subsidiaries			121,849		—		—		-121,849		—
Other assets, net			65,673		—		24,453		—		90,126
Total assets		$	11,230,288		1		1,394,349		-142,687		12,481,951

Liabilities and Equity
Current liabilities:
Accounts payable		$	318,740		—		33,737		—		352,477
Intercompany payable			18,817		—		2,021		-20,838		—
Accrued liabilities			224,886		—		10,183		—		235,069
Revenue distributions payable			183,455		—		—		—		183,455
Deferred income tax liability			269,822		—		—		—		269,822
Other current liabilities			13,171		—		—		-1		13,170
Total current liabilities			1,028,891		—		45,941		-20,839		1,053,993
Long-term liabilities:
Long-term debt			4,037,295		135,000		—		—		4,172,295
Deferred income tax liability			772,312		—		—		—		772,312
Other liabilities			49,076		—		—		—		49,076
Total liabilities			5,887,574		135,000		45,941		-20,839		6,047,676
Equity:
Stockholders' equity:
Parent net investment			—		-134,999		—		134,999		—
Partners' capital			—		—		1,348,408		-1,348,408		—
Common stock			2,768		—		—		—		2,768
Additional paid-in capital			4,078,068		—		—		—		4,078,068
Accumulated earnings			1,261,878		—		—		—		1,261,878
Total stockholders' equity			5,342,714		-134,999		1,348,408		-1,213,409		5,342,714
Noncontrolling interest in consolidated subsidiary			—		—		—		1,091,561		1,091,561
Total equity			5,342,714		-134,999		1,348,408		-121,848		6,434,275
Total liabilities and equity		$	11,230,288		1		1,394,349		-142,687		12,481,951


Schedule of condensed consolidated statement of operations and comprehensive income (loss)	Condensed Consolidating Statement of Operations and Comprehensive Income
	Three months ended March 31, 2015
	(In thousands)


			Parent		Guarantor		Non-Guarantor		Eliminations		Consolidated
			Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
	Revenue:
	Natural gas sales		$	314,942		—		—		—		314,942
	Natural gas liquids sales			78,786		—		—		—		78,786
	Oil sales			12,457		—		—		—		12,457
	Gathering, compression, and water distribution			3,867		—		52,243		-49,942		6,168
	Marketing			57,780		—		—		—		57,780
	Commodity derivative fair value gains			759,554		—		—		—		759,554
	Fee income			276		—		—		-276		—
	Total revenue			1,227,662		—		52,243		-50,218		1,229,687
	Operating expenses:
	Lease operating			8,102		—		—		—		8,102
	Gathering, compression, processing, and transportation			205,679		—		7,988		-50,005		163,662
	Production and ad valorem taxes			20,517		—		3,701		—		24,218
	Marketing			73,349		—		—		—		73,349
	Exploration			1,371		—		—		—		1,371
	Impairment of unproved properties			8,577		—		—		—		8,577
	Depletion, depreciation, and amortization			167,718		—		14,582		—		182,300
	Accretion of asset retirement obligations			400		—		—		—		400
	General and administrative			49,761		—		9,501		-213		59,049
	Contract termination and rig stacking			8,965		—		—		—		8,965
	Total operating expenses			544,439		—		35,772		-50,218		529,993
	Operating income			683,223		—		16,471		—		699,694
	Other income (expenses):
	Interest			-52,362		—		-823		—		-53,185
	Equity in net income of subsidiaries			10,908		—		—		-10,908		—
	Total other expenses			-41,454		—		-823		-10,908		-53,185
	Income before income taxes			641,769		—		15,648		-10,908		646,509
	Provision for income tax expense			-247,338		—		—		—		-247,338
	Net income and comprehensive income including noncontrolling interest			394,431		—		15,648		-10,908		399,171
	Net income and comprehensive income attributable to noncontrolling interest			—		—		—		4,740		4,740
	Net income and comprehensive income attributable to Antero Resources Corporation		$	394,431		—		15,648		-15,648		394,431


Schedule of condensed consolidated statement of cash flows	Condensed Consolidating Statement of Cash Flows
	Three months ended March 31, 2015
	(In thousands)



			Parent		Guarantor		Non-Guarantor		Eliminations		Consolidated
			Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
	Net cash provided by operating activities		$	311,659		—		39,735		—		351,394
	Cash flows from investing activities:
	Additions to unproved properties			-51,541		—		—		—		-51,541
	Drilling and completion costs			-569,068		—		—		—		-569,068
	Additions to fresh water distribution systems			-22,126		—		—		—		-22,126
	Additions to gathering systems and facilities			-40,251		—		-85,737		—		-125,988
	Additions to other property and equipment			-2,103		—		—		—		-2,103
	Change in other assets			-895		—		-7,515		—		-8,410
	Distributions from guarantor subsidiary			20,000		—		—		-20,000		—
	Distributions from non-guarantor subsidiary			9,984		—		—		-9,984		—
	Proceeds from asset sales			40,000		—		—		—		40,000
	Net cash used in investing activities			-616,000		—		-93,252		-29,984		-739,236
	Cash flows from financing activities:
	Issuance of common stock			537,875		—		—		—		537,875
	Issuance of senior notes			750,000		—		—		—		750,000
	Borrowings (repayments) on bank credit facility, net			-960,000		20,000		—		—		-940,000
	Payments of deferred financing costs			-15,008		—		-14		—		-15,022
	Distributions			—		-20,000		-14,322		29,984		-4,338
	Other			-1,161		—		—		—		-1,161
	Net cash provided by (used in) financing activities			311,706		—		-14,336		29,984		327,354
	Net increase (decrease) in cash and cash equivalents			7,365		—		-67,853		—		-60,488
	Cash and cash equivalents, beginning of period			15,787		—		230,192		—		245,979
	Cash and cash equivalents, end of period		$	23,152		—		162,339		—		185,491

Organization_Details

Organization (Details) (USD $)	3 Months Ended		27 Months Ended	0 Months Ended
Organization (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Oct. 16, 2013	Dec. 31, 2014	Oct. 15, 2013	Jun. 30, 2013
Corporate reorganization and initial public offering
Common stock, shares issued	276,775,293		276,775,293		262,071,642	224,375,000
Common stock, shares outstanding	276,775,293		276,775,293		276,071,642
Number of additional shares of common stock issued (in shares)	14,700,000
Net proceeds from issuance of additional shares of common stock	$537,875,000
Stock Compensation Charge in Connection with the Reorganization
Equity based compensation expense recognized	27,783,000	29,137,000
Midstream Credit Facility
Stock Compensation Charge in Connection with the Reorganization
Maximum amount of the Credit Facility	1,000,000,000		1,000,000,000
Profits interests awards
Stock Compensation Charge in Connection with the Reorganization
Equity based compensation expense recognized	14,718,000	28,689,000	463,000,000
Additional stock compensation to be recognized over the remaining service period	23,000,000
Initial Public Offering
Corporate reorganization and initial public offering
Number of additional shares of common stock issued (in shares)				37,674,659
Common stock price (in dollars per share)				$44
Net proceeds from issuance of additional shares of common stock				$1,600,000,000
Antero Resources LLC
Corporate reorganization and initial public offering
Ownership percentage							100.00%
Antero Investment
Corporate reorganization and initial public offering
Ownership percentage						100.00%

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
Derivative Financial Instruments
Fair value of commodity derivative contracts	$2,200
Earnings per share
Other comprehensive income (loss)	0
Dilutive shares attributable to non-vested restricted stock and restricted stock unit awards and stock options.	5,286
Citigroup
Derivative Financial Instruments
Fair value of commodity derivative contracts	406
Barclays
Derivative Financial Instruments
Fair value of commodity derivative contracts	388
JP Morgan
Derivative Financial Instruments
Fair value of commodity derivative contracts	354
Credit Suisse
Derivative Financial Instruments
Fair value of commodity derivative contracts	313
Wells Fargo
Derivative Financial Instruments
Fair value of commodity derivative contracts	258
BNP Paribas
Derivative Financial Instruments
Fair value of commodity derivative contracts	217
Scotiabank
Derivative Financial Instruments
Fair value of commodity derivative contracts	131
Toronto Dominion Bank
Derivative Financial Instruments
Fair value of commodity derivative contracts	49
Fifth Third Bank
Derivative Financial Instruments
Fair value of commodity derivative contracts	37
Canadian Imperial Bank of Commerce [Member]
Derivative Financial Instruments
Fair value of commodity derivative contracts	7
Bank of Montreal
Derivative Financial Instruments
Fair value of commodity derivative contracts	4
Morgan Stanley [Member]
Derivative Financial Instruments
Fair value of commodity derivative contracts	$3

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details 3)	3 Months Ended
Summary of Significant Accounting Policies (Details 3)	Mar. 31, 2015	Mar. 31, 2014
Earnings per share
Dilutive shares attributable to non-vested restricted stock and restricted stock unit awards and stock options.	5,286
Weighted Average Number of Shares Outstanding, Basic	265,294,794	262,049,659
Weighted Average Number of Shares Outstanding, Diluted	265,300,080	262,049,659
Restricted Stock and Restricted Stock Unit
Earnings per share
Non-vested shares	1,970,774
Stock options
Earnings per share
Non-vested shares	81,021

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)

0 Months Ended

3 Months Ended

27 Months Ended

0 Months Ended

3 Months Ended

Sep. 18, 2014

Mar. 31, 2015

Feb. 04, 2013

Mar. 31, 2014

Dec. 31, 2014

Sep. 30, 2014

Dec. 31, 2013

Nov. 19, 2012

Nov. 05, 2013

6-May-14

Mar. 17, 2015

Long- term Debt

Long-term debt

$4,172,295,000

$4,362,550,000

Long-term debt

4,172,295,000

4,362,550,000

Senior notes issued

500,000,000

Issue price as percentage of par value

100.50%

Midstream Credit Facility

Long- term Debt

Maximum amount of the Credit Facility

1,000,000,000

Lender commitments

200,000,000

Description of variable rate basis

LIBOR or the prime rate,

Midstream Credit Facility | Minimum

Long- term Debt

Commitment fees on the unused portion (as a percent)

0.25%

Midstream Credit Facility | Maximum

Long- term Debt

Commitment fees on the unused portion (as a percent)

0.38%

Bank credit facility

Long- term Debt

Long-term debt

790,000,000

1,730,000,000

Current borrowing base

4,000,000,000

Current borrowing base before amendment

4,000,000,000

Outstanding balance

790,000,000

1,730,000,000

Weighted average interest rate (as a percent)

1.94%

2.06%

Outstanding letters of credit

474,000,000

387,000,000

Description of variable rate basis

LIBOR or the prime rate

Bank credit facility | Minimum

Long- term Debt

Commitment fees on the unused portion (as a percent)

0.38%

Bank credit facility | Maximum

Long- term Debt

Commitment fees on the unused portion (as a percent)

0.50%

6.00% senior notes due 2020

Long- term Debt

Long-term debt

525,000,000

Interest rate (as a percent)

6.00%

Senior notes issued

225,000,000

300,000,000

Issue price as percentage of par value

103.00%

Percentage of principal amount at which notes may be required to be repurchased in event of change of control

101.00%

6.00% senior notes due 2020 | On or after December 1, 2018

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

100.00%

6.00% senior notes due 2020 | On or before December 1, 2015

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

104.50%

Percentage of the principal amount of the debt instrument which the entity may redeem with the proceeds from certain equity offerings

35.00%

Redemption price of the debt instrument if redeemed with the proceeds of certain equity offerings (as a percent)

106.00%

6.00% senior notes due 2020 | Prior to December 1, 2015

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

100.00%

5.375% senior notes due 2021

Long- term Debt

Long-term debt

1,000,000,000

Interest rate (as a percent)

5.38%

Senior notes issued

1,000,000,000

5.375% senior notes due 2021 | On or after November 1, 2016

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

104.03%

5.375% senior notes due 2021 | On or after November 1, 2019

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

100.00%

5.375% senior notes due 2021 | Prior to November 1, 2016

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

100.00%

5.375% senior notes due 2021 | On or before November 1, 2016

Long- term Debt

Redemption price of the debt instrument if redeemed with the proceeds of certain equity offerings (as a percent)

105.38%

5.375% senior notes due 2021 | Prior to May 1, 2015

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

110.00%

Percentage of principal amount at which notes may be required to be repurchased in event of change of control

101.00%

5.375% senior notes due 2021 | Maximum | On or before November 1, 2016

Long- term Debt

Percentage of the principal amount of the debt instrument which the entity may redeem with the proceeds from certain equity offerings

35.00%

Net unamortized premium

Long- term Debt

Long-term debt

7,295,000

7,550,000

Stand-alone revolving note

Long- term Debt

Maximum amount of the Credit Facility

25,000,000

Outstanding balance

Description of variable rate basis

lender's prime rate

Basis spread on variable rate (as a percent)

1.00%

5.125 senior notes due 2022

Long- term Debt

Long-term debt

1,100,000,000

Interest rate (as a percent)

5.13%

Senior notes issued

600,000,000

5.125 senior notes due 2022 | On or after June 1, 2017

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

103.84%

5.125 senior notes due 2022 | On or before June 1, 2017

Long- term Debt

Percentage of the principal amount of the debt instrument which the entity may redeem with the proceeds from certain equity offerings

35.00%

Redemption price of the debt instrument if redeemed with the proceeds of certain equity offerings (as a percent)

105.13%

5.125 senior notes due 2022 | Prior to June 1, 2017

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

100.00%

5.125 senior notes due 2022 | On or after June 1, 2020

Long- term Debt

Percentage of the principal amount of the debt instrument redeemed

100.00%

5.125 senior notes due 2022 | Prior to December 1, 2015

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

110.00%

Percentage of principal amount at which notes may be required to be repurchased in event of change of control

101.00%

5.625% senior notes due 2023

Long- term Debt

Long-term debt

750,000,000

Interest rate (as a percent)

5.63%

Senior notes issued

$750,000,000

5.625% senior notes due 2023 | On or after June 1, 2018

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

104.22%

5.625% senior notes due 2023 | On or before June 1, 2018

Long- term Debt

Redemption price of the debt instrument if redeemed with the proceeds of certain equity offerings (as a percent)

105.63%

5.625% senior notes due 2023 | Prior to June 1, 2016

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

110.00%

Percentage of principal amount at which notes may be required to be repurchased in event of change of control

101.00%

5.625% senior notes due 2023 | Prior to June 1, 2018

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

100.00%

5.625% senior notes due 2023 | On or after June 1, 2021

Long- term Debt

Redemption price of the debt instrument in the event of change of control (as a percent)

100.00%

5.625% senior notes due 2023 | Maximum | On or before June 1, 2018

Long- term Debt

Percentage of the principal amount of the debt instrument which the entity may redeem with the proceeds from certain equity offerings

35.00%

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Asset Retirement Obligations
Asset retirement obligations - beginning of period	$16,614
Obligations incurred for wells drilled	1,309
Accretion expense	400	302
Asset retirement obligations - end of period	$18,323

EquityBased_Compensation_Detai

Equity-Based Compensation (Details) (USD $)	3 Months Ended		27 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
Stock-based compensation expense
Equity based compensation expense recognized	$27,783	$29,137
Number of stock-based compensation awards authorized	16,906,500		16,906,500
Number of shares available for future grant under the Plan	14,765,723		14,765,723
Midstream Plan
Stock-based compensation expense
Number of stock-based compensation awards authorized	10,000,000		10,000,000
Number of shares available for future grant under the Plan	7,640,500		7,640,500
Profits interests awards
Stock-based compensation expense
Equity based compensation expense recognized	14,718	28,689	463,000
Restricted stock awards
Stock-based compensation expense
Equity based compensation expense recognized	8,436	309
Stock options
Stock-based compensation expense
Equity based compensation expense recognized	129	139
Antero Midstream Partners Phantom and Restricted Unit Awards
Stock-based compensation expense
Equity based compensation expense recognized	4,425
Common stock issued to directors in lieu of cash compensation [Member]
Stock-based compensation expense
Equity based compensation expense recognized	$75

EquityBased_Compensation_Detai1

Equity-Based Compensation (Details 2) (USD $)	0 Months Ended	3 Months Ended
Equity-Based Compensation (Details 2) (USD $)	Apr. 15, 2015	Mar. 31, 2015	Apr. 15, 2015
Aggregate intrinsic value
Weighted average period for recognizing unrecognized stock-based compensation expense		2 years 3 months 18 days
Restricted Stock and Restricted Stock Unit
Number of shares
Total granted and unvested at the beginning of the period (in shares)		1,983,673
Granted (in shares)		53,386
Vested (in shares)		-2,617
Forfeited (in shares)		-320
Total awarded and unvested at the end of the period (in shares)		2,034,122
Weighted average grant date fair value
Total granted and unvested at the beginning of the period (in dollars per share)		$64.71
Granted (in dollars per share)		$35.18
Vested (in dollars per share)		$60.66
Forfeited (in dollars per share)		$37.52
Total awarded and unvested at the end of the period (in dollars per share)		$63.94
Aggregate intrinsic value
Total awarded and unvested at the beginning of the period		$80,497,000
Total awarded and unvested at the end of the period		71,845,000
Restricted units
Aggregate intrinsic value
Unrecognized stock-based compensation expense	$33.40	$97,200,000	$33.40
Weighted average period for recognizing unrecognized stock-based compensation expense	4 years	3 years

EquityBased_Compensation_Detai2

Equity-Based Compensation (Details 3) (USD $)	0 Months Ended		3 Months Ended
Equity-Based Compensation (Details 3) (USD $)	Apr. 15, 2015	Dec. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Apr. 15, 2015
Stock options
Exercisable (in shares)			25,339
Weighted average exercise price
Exercisable (in dollars per share)			$54.15
Weighted average remaining contractual life
Exercisable			8 years 6 months 15 days
Additional disclosures
Weighted average period for recognizing unrecognized stock-based compensation expense			2 years 3 months 18 days
Stock options
Stock options
Outstanding at the beginning of the period (in shares)		81,021	81,021
Options granted (in shares)	665,367
Outstanding at the end of the period (in shares)			81,021
Expected to vest (in shares)			81,021
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)		$53.92	$53.92
Outstanding at the end of the period (in dollars per share)			$53.92
Expected to vest (in dollars per share)			$53.92
Weighted average remaining contractual life
Outstanding at the beginning of the period		8 years 11 months 1 day	8 years 8 months 1 day
Outstanding at the end of the period		8 years 11 months 1 day	8 years 8 months 1 day
Expected to vest			8 years 8 months 1 day
Weighted-average assumptions used to calculate fair value of stock options granted
Volatility (as a percent)			40.00%	35.00%
Risk-free interest rate (as a percent)			1.75%	1.48%
Expected life			5 years 6 months	6 years 2 months 1 day
Weighted average fair value of options granted (in dollars per share)			$20.55	$20.20
Additional disclosures
Unrecognized stock-based compensation expense	$9,800,000		$900,000		$9,800,000
Weighted average period for recognizing unrecognized stock-based compensation expense	4 years
Stock options \| Minimum
Stock-based compensation
Vesting period			1 year
Stock options \| Maximum
Stock-based compensation
Vesting period			4 years
Contractual life			10 years
Restricted units
Stock options
Options granted (in shares)	806,717
Additional disclosures
Unrecognized stock-based compensation expense	$33.40		$97,200,000		$33.40
Weighted average period for recognizing unrecognized stock-based compensation expense	4 years		3 years

EquityBased_Compensation_Detai3

Equity-Based Compensation (Details 4) (USD $)	0 Months Ended	3 Months Ended
Equity-Based Compensation (Details 4) (USD $)	Apr. 15, 2015	Mar. 31, 2015
Aggregate intrinsic value
Weighted average period for recognizing unrecognized stock-based compensation expense		2 years 3 months 18 days
Antero Midstream Partners Phantom and Restricted Unit Awards
Number of units
Total granted and unvested at the beginning of the period (in shares)		2,381,440
Forfeited (in shares)		-21,940
Total awarded and unvested at the end of the period (in shares)		2,359,500
Weighted average grant date fair value
Total granted and unvested at the beginning of the period (in dollars per share)		29
Forfeited (in dollars per share)		29
Total awarded and unvested at the end of the period (in dollars per share)		29
Aggregate intrinsic value
Outstanding at the beginning of the period		65,490,000
Outstanding at the end of the period		57,076,000
Unamortized expenses not yet recognized		61,600,000
Weighted average period for recognizing unrecognized stock-based compensation expense		3 years 7 months 6 days
Restricted units
Aggregate intrinsic value
Weighted average period for recognizing unrecognized stock-based compensation expense	4 years	3 years

Financial_Instruments_Details

Financial Instruments (Details) (Recurring, Level 2 market data, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Billions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Recurring \| Level 2 market data
Financial Instruments
Fair value of senior notes	$3.30	$2.50

Derivative_Instruments_Details

Derivative Instruments (Details)	Mar. 31, 2015
Year ending December 31, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	390,000
Year ending December 31, 2015 \| Basis Differential Positions [Member]
Derivative Instruments
Weighted average index price	-0.35
Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	290,000
Year ending December 31, 2016 \| Basis Differential Positions [Member]
Derivative Instruments
Weighted average index price	-0.42
Year ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	125,000
Year ending December 31, 2017 \| Basis Differential Positions [Member]
Derivative Instruments
Weighted average index price	-0.49
Swaps \| Natural gas \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,160,000
Swaps \| Natural gas \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,160,000
Swaps \| Natural gas \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,160,000
Swaps \| Natural gas \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,252,500
Swaps \| Natural gas \| Year ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	900,000
Swaps \| Natural gas \| TCO \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	120,000
Weighted average index price	4.86
Swaps \| Natural gas \| TCO \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	120,000
Weighted average index price	4.93
Swaps \| Natural gas \| TCO \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	120,000
Weighted average index price	5.14
Swaps \| Natural gas \| TCO \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	60,000
Weighted average index price	4.91
Swaps \| Natural gas \| Dominion South \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	230,000
Weighted average index price	5.41
Swaps \| Natural gas \| Dominion South \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	230,000
Weighted average index price	5.48
Swaps \| Natural gas \| Dominion South \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	230,000
Weighted average index price	5.74
Swaps \| Natural gas \| Dominion South \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	272,500
Weighted average index price	5.35
Swaps \| Natural gas \| NYMEX \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	770,000
Weighted average index price	3.75
Swaps \| Natural gas \| NYMEX \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	770,000
Weighted average index price	3.79
Swaps \| Natural gas \| NYMEX \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	770,000
Weighted average index price	3.92
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	750,000
Weighted average index price	3.66
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	410,000
Weighted average index price	4.11
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2018
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,192,500
Weighted average index price	4.4
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2019
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,347,500
Weighted average index price	4.12
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	850,000
Weighted average index price	3.85
Swaps \| Natural gas \| CGTLA \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	40,000
Weighted average index price	3.86
Swaps \| Natural gas \| CGTLA \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	40,000
Weighted average index price	3.93
Swaps \| Natural gas \| CGTLA \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	40,000
Weighted average index price	4.09
Swaps \| Natural gas \| CGTLA \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	170,000
Weighted average index price	4.09
Swaps \| Natural gas \| CGTLA \| Year ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	420,000
Weighted average index price	4.27
Swaps \| Natural gas \| CCG \| Year ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	70,000
Weighted average index price	4.57
Swaps \| Oil \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	3,000
Swaps \| Oil \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	3,000
Swaps \| Oil \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	3,000
Swaps \| Oil \| NYMEX-WTI \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	3,000
Weighted average index price	64.21
Swaps \| Oil \| NYMEX-WTI \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	3,000
Weighted average index price	64.84
Swaps \| Oil \| NYMEX-WTI \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	3,000
Weighted average index price	65.67
Swaps \| Propane \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	23,000
Swaps \| Propane \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	23,000
Swaps \| Propane \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	23,000
Swaps \| Propane \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	27,000
Swaps \| Propane \| Mont Belvieu-TET \| Three months ending June 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	23,000
Weighted average index price	0.6
Swaps \| Propane \| Mont Belvieu-TET \| Three months ending September 30, 2015
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	23,000
Weighted average index price	0.62
Swaps \| Propane \| Mont Belvieu-TET \| Three months ending December 31, 2015 [Member]
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	23,000
Weighted average index price	0.64
Swaps \| Propane \| Mont Belvieu-TET \| Year ending December 31, 2016
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	27,000
Weighted average index price	0.58

Derivative_Instruments_Details1

Derivative Instruments (Details 2) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	item
Fair value of derivative instruments
Current portion of fair value of derivative assets	$713,966	$692,554
Noncurrent portion of fair value of derivative assets	1,453,300	899,997
Net fair value of commodity derivative assets position
Fair value of derivative instruments
Total asset derivatives	2,167,266	1,592,551
Antero Resources Corp
Fair value of derivative instruments
Current portion of fair value of derivative assets	713,966
Noncurrent portion of fair value of derivative assets	1,453,300
Derivatives not designated as hedges for accounting purposes \| Net fair value of commodity derivative assets position
Fair value of derivative instruments
Current portion of fair value of derivative assets	713,966	692,554
Noncurrent portion of fair value of derivative assets	1,453,300	899,997
Net derivatives	$2,167,266	$1,592,551
Derivatives designated as hedges for accounting purposes
Fair value of derivative instruments
Number of derivative instruments held			0

Derivative_Instruments_Details2

Derivative Instruments (Details 3) (Net fair value of commodity derivative assets position, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Net fair value of commodity derivative assets position
Commodity derivative assets
Gross amounts on balance sheet	$2,196,341	$1,621,665
Gross amounts offset on balance sheet	-29,075	-29,114
Total asset derivatives	$2,167,266	$1,592,551

Derivative_Instruments_Details3

Derivative Instruments (Details 4) (Revenue, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains	$759,554	($248,929)

Contingencies_Details

Contingencies (Details) (USD $)	Mar. 31, 2015	Feb. 04, 2015
In Millions, unless otherwise specified	lawsuit	lawsuit
Contingencies
Number of lawsuits	1	2
Additional accounts receivable	$14.30

Contract_Termination_and_Rig_S1

Contract Termination and Rig Stacking (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Contract Termination and Rig Stacking Line Items
Contract termination and rig stacking	$8,965

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Sales and revenues:
Sales and revenues	$1,229,687	$168,207
Operating expenses:
Lease operating	8,102	4,869
Gathering, compression, processing, and transportation	163,662	83,510
Depletion, depreciation, and amortization	182,300	91,206
General and administrative expense	59,049	50,985
Other operating expenses	116,880	41,716
Total	529,993	272,286
Operating income (loss)	699,694	-104,079
Segment assets	12,481,951	7,134,457	11,573,495
Capital expenditures for segment assets	770,826	731,706
Exploration and production
Sales and revenues:
Sales and revenues	1,166,089	161,457
Gathering and compression
Sales and revenues:
Sales and revenues	52,243	11,773
Fresh Water Distribution
Sales and revenues:
Sales and revenues	34,430	24,759
Marketing
Sales and revenues:
Sales and revenues	57,780	3,226
Antero Resources Corp
Operating expenses:
Segment assets	11,230,288
Operating segments \| Exploration and production
Sales and revenues:
Sales and revenues	1,165,739	161,457
Operating expenses:
Lease operating	7,783	4,869
Gathering, compression, processing, and transportation	205,679	93,412
Depletion, depreciation, and amortization	161,505	82,180
General and administrative expense	47,417	45,316
Other operating expenses	38,970	28,678
Total	461,354	254,455
Operating income (loss)	704,735	-92,998
Segment assets	10,835,973	6,175,588
Capital expenditures for segment assets	646,842	582,044
Operating segments \| Gathering and compression
Sales and revenues:
Sales and revenues	2,301	930
Operating expenses:
Gathering, compression, processing, and transportation	7,988	941
Depletion, depreciation, and amortization	14,675	6,108
General and administrative expense	9,501	3,776
Other operating expenses	3,701
Total	35,865	10,825
Operating income (loss)	16,378	948
Segment assets	1,410,631	704,529
Capital expenditures for segment assets	125,988	107,523
Operating segments \| Fresh Water Distribution
Sales and revenues:
Sales and revenues	3,867	2,594
Operating expenses:
Lease operating	6,752	4,274
Depletion, depreciation, and amortization	6,120	2,918
General and administrative expense	2,418	1,893
Other operating expenses	860	1,057
Total	16,150	10,142
Operating income (loss)	18,280	14,617
Segment assets	421,320	289,744
Capital expenditures for segment assets	22,126	60,030
Operating segments \| Marketing
Sales and revenues:
Sales and revenues	57,780	3,226
Operating expenses:
Other operating expenses	73,349	11,981
Total	73,349	11,981
Operating income (loss)	-15,569	-8,755
Segment assets	28,007
Elimination of intersegment transaction
Sales and revenues:
Sales and revenues	-80,855	-33,008
Operating expenses:
Lease operating	-6,433	-4,274
Gathering, compression, processing, and transportation	-50,005	-10,843
General and administrative expense	-287
Total	-56,725	-15,117
Operating income (loss)	-24,130	-17,891
Segment assets	-213,980	-35,404
Capital expenditures for segment assets	-24,130	-17,891
Elimination of intersegment transaction \| Exploration and production
Sales and revenues:
Sales and revenues	350
Elimination of intersegment transaction \| Gathering and compression
Sales and revenues:
Sales and revenues	49,942	10,843
Elimination of intersegment transaction \| Fresh Water Distribution
Sales and revenues:
Sales and revenues	$30,563	$22,165

Subsidiary_Guarantors_Details

Subsidiary Guarantors (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$185,491	$245,979	$12,580	$17,487
Accounts receivable, net	118,410	116,203
Accrued revenue	165,904	191,558
Derivative instruments	713,966	692,554
Other current assets	4,259	5,866
Total current assets	1,188,030	1,252,160
Unproved properties	2,053,669	2,060,936
Proved properties	7,013,366	6,515,221
Fresh water distribution systems	433,632	421,012
Gathering systems and facilities	1,270,635	1,197,239
Other property and equipment	41,136	37,687
Property and equipment, gross	10,812,438	10,232,095
Less accumulated depletion, depreciation, and amortization	-1,061,943	-879,643
Property and equipment, net	9,750,495	9,352,452
Derivative instruments	1,453,300	899,997
Other assets, net	90,126	68,886
Total assets	12,481,951	11,573,495	7,134,457
Liabilities and Stockholders' Equity
Accounts payable	352,477	531,564
Accrued liabilities	235,069	168,614
Revenue distributions payable	183,455	182,352
Deferred income tax liability	269,822	260,373
Other current liabilities	13,170	12,202
Total current liabilities	1,053,993	1,155,105
Long-term debt	4,172,295	4,362,550
Deferred income tax liability	772,312	534,423
Other liabilities	49,076	47,587
Total liabilities	6,047,676	6,099,665
Common stock	2,768	2,621
Additional paid-in capital	4,078,068	3,513,725
Accumulated earnings	1,261,878	867,447
Total stockholders' equity	5,342,714	4,383,793
Noncontrolling interest in consolidated subsidiary	1,091,561	1,090,037
Total equity	6,434,275	5,473,830
Total liabilities and equity	12,481,951	11,573,495
Eliminations
Current assets:
Intercompany receivables	-20,837	-19,026
Other current assets	-1	-1
Total current assets	-20,838	-19,027
Investment in subsidiaries	-121,849	-137,423
Total assets	-142,687	-156,450
Liabilities and Stockholders' Equity
Intercompany payable	-20,838	-19,026
Other current liabilities	-1	-1
Total current liabilities	-20,839	-19,027
Total liabilities	-20,839	-19,027
Parent net investment	134,999	114,999
Partners' capital	-1,348,408	-1,342,459
Total stockholders' equity	-1,213,409	-1,227,460
Noncontrolling interest in consolidated subsidiary	1,091,561	1,090,037
Total equity	-121,848	-137,423
Total liabilities and equity	-142,687	-156,450
Antero Resources Corp
Current assets:
Cash and cash equivalents	23,152
Accounts receivable, net	118,410
Intercompany receivables	2,021
Accrued revenue	165,904
Derivative instruments	713,966
Other current assets	3,903
Total current assets	1,027,356
Unproved properties	2,053,669
Proved properties	7,013,366
Fresh water distribution systems	433,632
Gathering systems and facilities	16,558
Other property and equipment	41,136
Property and equipment, gross	9,558,361
Less accumulated depletion, depreciation, and amortization	-996,251
Property and equipment, net	8,562,110
Derivative instruments	1,453,300
Investment in subsidiaries	121,849
Other assets, net	65,673
Total assets	11,230,288
Liabilities and Stockholders' Equity
Accounts payable	318,740
Intercompany payable	18,817
Accrued liabilities	224,886
Revenue distributions payable	183,455
Deferred income tax liability	269,822
Other current liabilities	13,171
Total current liabilities	1,028,891
Long-term debt	4,037,295
Deferred income tax liability	772,312
Other liabilities	49,076
Total liabilities	5,887,574
Common stock	2,768
Additional paid-in capital	4,078,068
Accumulated earnings	1,261,878
Total stockholders' equity	5,342,714
Total equity	5,342,714
Total liabilities and equity	11,230,288
Antero Resources Corp \| Reportable legal entity
Current assets:
Cash and cash equivalents	23,152	15,787
Accounts receivable, net		116,203
Intercompany receivables		1,380
Accrued revenue		191,558
Derivative instruments		692,554
Other current assets		5,348
Total current assets		1,022,830
Unproved properties		2,060,936
Proved properties		6,515,221
Fresh water distribution systems		421,012
Gathering systems and facilities		16,532
Other property and equipment		37,687
Property and equipment, gross		9,051,388
Less accumulated depletion, depreciation, and amortization		-828,533
Property and equipment, net		8,222,855
Derivative instruments		899,997
Investment in subsidiaries		137,423
Other assets, net		51,718
Total assets		10,334,823
Liabilities and Stockholders' Equity
Accounts payable		485,628
Intercompany payable		17,646
Accrued liabilities		163,268
Revenue distributions payable		182,352
Deferred income tax liability		260,373
Other current liabilities		12,203
Total current liabilities		1,121,470
Long-term debt		4,247,550
Deferred income tax liability		534,423
Other liabilities		47,587
Total liabilities		5,951,030
Common stock		2,621
Additional paid-in capital		3,513,725
Accumulated earnings		867,447
Total stockholders' equity		4,383,793
Total equity		4,383,793
Total liabilities and equity		10,334,823
Guarantor Subsidiaries
Current assets:
Other current assets	1
Total current assets	1
Total assets	1
Liabilities and Stockholders' Equity
Long-term debt	135,000
Total liabilities	135,000
Parent net investment	-134,999
Total stockholders' equity	-134,999
Total equity	-134,999
Total liabilities and equity	1
Guarantor Subsidiaries \| Reportable legal entity
Current assets:
Other current assets		1
Total current assets		1
Total assets		1
Liabilities and Stockholders' Equity
Long-term debt		115,000
Total liabilities		115,000
Parent net investment		-114,999
Total stockholders' equity		-114,999
Total equity		-114,999
Total liabilities and equity		1
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	162,339
Intercompany receivables	18,816
Other current assets	356
Total current assets	181,511
Gathering systems and facilities	1,254,077
Property and equipment, gross	1,254,077
Less accumulated depletion, depreciation, and amortization	-65,692
Property and equipment, net	1,188,385
Other assets, net	24,453
Total assets	1,394,349
Liabilities and Stockholders' Equity
Accounts payable	33,737
Intercompany payable	2,021
Accrued liabilities	10,183
Total current liabilities	45,941
Total liabilities	45,941
Partners' capital	1,348,408
Total stockholders' equity	1,348,408
Total equity	1,348,408
Total liabilities and equity	1,394,349
Non-Guarantor Subsidiaries \| Reportable legal entity
Current assets:
Cash and cash equivalents	162,339	230,192
Intercompany receivables		17,646
Other current assets		518
Total current assets		248,356
Gathering systems and facilities		1,180,707
Property and equipment, gross		1,180,707
Less accumulated depletion, depreciation, and amortization		-51,110
Property and equipment, net		1,129,597
Other assets, net		17,168
Total assets		1,395,121
Liabilities and Stockholders' Equity
Accounts payable		45,936
Intercompany payable		1,380
Accrued liabilities		5,346
Total current liabilities		52,662
Total liabilities		52,662
Partners' capital		1,342,459
Total stockholders' equity		1,342,459
Total equity		1,342,459
Total liabilities and equity		$1,395,121

Subsidiary_Guarantor_Details_2

Subsidiary Guarantor (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Natural gas sales	$314,942	$312,336
Natural gas liquids sales	78,786	73,928
Oil sales	12,457	24,122
Gathering, compression and water distribution	6,168	3,524
Marketing	57,780	3,226
Commodity derivative fair value gains	759,554
Total revenue	1,229,687	168,207
Operating expenses:
Lease operating	8,102	4,869
Gathering, compression, processing, and transportation	163,662	83,510
Production and ad valorem taxes	24,218	21,039
Marketing	73,349	11,981
Exploration	1,371	6,997
Impairment of unproved properties	8,577	1,397
Depletion, depreciation, and amortization	182,300	91,206
Accretion of asset retirement obligations	400	302
General and administrative	59,049	50,985
Contract termination and rig stacking	8,965
Total operating expenses	529,993	272,286
Operating income	699,694	-104,079
Interest	-53,185	-31,342
Total other expenses	-53,185
Income (loss) before income taxes	646,509	-135,421
Provision for income tax expense	-247,338	40,662
Net income (loss) and comprehensive income (loss) including noncontrolling interest	399,171	-94,759
Net income and comprehensive income attributable to noncontrolling interest	4,740
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	399,171
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	394,431	-94,759
Reportable legal entity \| Antero Resources Corp
Revenue:
Natural gas sales	314,942
Natural gas liquids sales	78,786
Oil sales	12,457
Gathering, compression and water distribution	3,867
Marketing	57,780
Commodity derivative fair value gains	759,554
Fee income	276
Total revenue	1,227,662
Operating expenses:
Lease operating	8,102
Gathering, compression, processing, and transportation	205,679
Production and ad valorem taxes	20,517
Marketing	73,349
Exploration	1,371
Impairment of unproved properties	8,577
Depletion, depreciation, and amortization	167,718
Accretion of asset retirement obligations	400
General and administrative	49,761
Contract termination and rig stacking	8,965
Total operating expenses	544,439
Operating income	683,223
Interest	-52,362
Equity in net income of subsidiaries	10,908
Total other expenses	-41,454
Income (loss) before income taxes	641,769
Provision for income tax expense	-247,338
Net income (loss) and comprehensive income (loss) including noncontrolling interest	394,431
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	394,431
Reportable legal entity \| Non-Guarantor Subsidiaries
Revenue:
Gathering, compression and water distribution	52,243
Total revenue	52,243
Operating expenses:
Gathering, compression, processing, and transportation	7,988
Production and ad valorem taxes	3,701
Depletion, depreciation, and amortization	14,582
General and administrative	9,501
Total operating expenses	35,772
Operating income	16,471
Interest	-823
Total other expenses	-823
Income (loss) before income taxes	15,648
Net income (loss) and comprehensive income (loss) including noncontrolling interest	15,648
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	15,648
Eliminations
Revenue:
Gathering, compression and water distribution	-49,942
Fee income	-276
Total revenue	-50,218
Operating expenses:
Gathering, compression, processing, and transportation	-50,005
General and administrative	-213
Total operating expenses	-50,218
Equity in net income of subsidiaries	-10,908
Total other expenses	-10,908
Income (loss) before income taxes	-10,908
Net income (loss) and comprehensive income (loss) including noncontrolling interest	-10,908
Net income and comprehensive income attributable to noncontrolling interest	4,740
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	($15,648)

Subsidiary_Guarantor_Details_3

Subsidiary Guarantor (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed consolidated statement of cash flows
Net cash provided by operating activities	$351,394	$274,307
Cash flows used in investing activities:
Additions to unproved properties	-51,541	-60,149
Drilling and completion costs	-569,068	-496,221
Additions to fresh water distribution systems	-22,126	-60,030
Additions to gathering systems and facilities	-125,988	-107,523
Additions to other property and equipment	-2,103	-7,783
Change in other assets	-8,410	-3,807
Proceeds from asset sales	40,000
Net cash used in investing activities	-739,236	-735,513
Cash flows from financing activities:
Issuance of common stock	537,875
Issuance of senior notes	750,000
Borrowings (repayments) on bank credit facility, net	-940,000	457,000
Payments of deferred financing costs	15,022	701
Distributions	-4,338
Other	-1,161
Net cash provided by financing activities	327,354	456,299
Net increase (decrease) in cash and cash equivalents	-60,488	-4,907
Cash and cash equivalents, beginning of period	245,979	17,487
Cash and cash equivalents, end of period	185,491	12,580
Antero Resources Corp
Cash flows from financing activities:
Cash and cash equivalents, end of period	23,152
Non-Guarantor Subsidiaries
Cash flows from financing activities:
Cash and cash equivalents, end of period	162,339
Reportable legal entity \| Antero Resources Corp
Condensed consolidated statement of cash flows
Net cash provided by operating activities	311,659
Cash flows used in investing activities:
Additions to unproved properties	-51,541
Drilling and completion costs	-569,068
Additions to fresh water distribution systems	-22,126
Additions to gathering systems and facilities	-40,251
Additions to other property and equipment	-2,103
Change in other assets	-895
Distributions from guarantor subsidiary	20,000
Distributions from non-guarantor subsidiary	9,984
Proceeds from asset sales	40,000
Net cash used in investing activities	-616,000
Cash flows from financing activities:
Issuance of common stock	537,875
Issuance of senior notes	750,000
Borrowings (repayments) on bank credit facility, net	-960,000
Payments of deferred financing costs	15,008
Other	-1,161
Net cash provided by financing activities	311,706
Net increase (decrease) in cash and cash equivalents	7,365
Cash and cash equivalents, beginning of period	15,787
Cash and cash equivalents, end of period	23,152
Reportable legal entity \| Guarantor Subsidiaries
Cash flows from financing activities:
Borrowings (repayments) on bank credit facility, net	20,000
Distributions	-20,000
Reportable legal entity \| Non-Guarantor Subsidiaries
Condensed consolidated statement of cash flows
Net cash provided by operating activities	39,735
Cash flows used in investing activities:
Additions to gathering systems and facilities	-85,737
Change in other assets	-7,515
Net cash used in investing activities	-93,252
Cash flows from financing activities:
Payments of deferred financing costs	14
Distributions	-14,322
Net cash provided by financing activities	-14,336
Net increase (decrease) in cash and cash equivalents	-67,853
Cash and cash equivalents, beginning of period	230,192
Cash and cash equivalents, end of period	162,339
Eliminations
Cash flows used in investing activities:
Distributions from guarantor subsidiary	-20,000
Distributions from non-guarantor subsidiary	-9,984
Net cash used in investing activities	-29,984
Cash flows from financing activities:
Distributions	29,984
Net cash provided by financing activities	$29,984