Antero Resources (AR) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 27, 2017
Document and Entity Information
Entity Registrant Name	ANTERO RESOURCES Corp
Entity Central Index Key	1,433,270
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		315,469,893
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 40,190	$ 31,610
Accounts receivable, net of allowance for doubtful accounts of $1,195 in 2016 and 2017	16,494	29,682
Accrued revenue	218,621	261,960
Derivative instruments	452,005	73,022
Other current assets	8,573	6,313
Total current assets	735,883	402,587
Natural gas properties, at cost (successful efforts method):
Unproved properties	2,309,839	2,331,173
Proved properties	10,493,932	9,549,671
Water handling and treatment systems	840,183	744,682
Gathering systems and facilities	1,884,712	1,723,768
Other property and equipment	48,537	41,231
Property and equipment, gross	15,577,203	14,390,525
Less accumulated depletion, depreciation, and amortization	(2,767,358)	(2,363,778)
Property and equipment, net	12,809,845	12,026,747
Derivative instruments	1,600,165	1,731,063
Investments in unconsolidated affiliates	259,697	68,299
Other assets	36,631	26,854
Total assets	15,442,221	14,255,550
Current liabilities:
Accounts payable	51,567	38,627
Accrued liabilities	418,352	393,803
Revenue distributions payable	203,151	163,989
Derivative instruments	3,279	203,635
Other current liabilities	16,711	17,334
Total current liabilities	693,060	817,388
Long-term liabilities:
Long-term debt	5,291,973	4,703,973
Deferred income tax liability	1,100,382	950,217
Derivative instruments	172	234
Other liabilities	53,772	55,160
Total liabilities	7,139,359	6,526,972
Commitments and contingencies (notes 13 and 14)
Equity:
Common stock, $0.01 par value; authorized - 1,000,000 shares; issued and outstanding 314,877 shares and 315,448 shares, respectively	3,154	3,149
Additional paid-in capital	6,435,047	5,299,481
Accumulated earnings	1,223,259	959,995
Total stockholders' equity	7,661,460	6,262,625
Noncontrolling interest in consolidated subsidiary	641,402	1,465,953
Total equity	8,302,862	7,728,578
Total liabilities and equity	$ 15,442,221	$ 14,255,550

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Condensed Consolidated Balance Sheets
Allowance for doubtful accounts	$ 1,195	$ 1,195
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	315,448,000	314,877,000
Common stock, shares outstanding	315,448,000	314,877,000
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Natural gas sales	$ 454,257	$ 229,787	$ 920,921	$ 484,563
Natural gas liquids sales	170,819	94,713	365,471	167,778
Oil sales	26,512	16,740	53,472	26,919
Gathering, processing, and water handling and treatment	3,192	3,294	5,796	7,138
Marketing	49,968	90,902	115,892	190,118
Commodity derivative fair value gains (losses)	85,641	(684,634)	524,416	(404,710)
Total revenue	790,389	(249,198)	1,985,968	471,806
Operating expenses:
Lease operating	16,992	12,043	32,543	23,336
Gathering, compression, processing, and transportation	266,747	206,060	533,576	414,798
Production and ad valorem taxes	22,553	17,458	47,346	36,742
Marketing	77,421	125,977	167,414	263,910
Exploration	1,804	1,109	3,911	2,123
Impairment of unproved properties	15,199	19,944	42,098	35,470
Depletion, depreciation, and amortization	201,182	197,362	403,911	388,944
Accretion of asset retirement obligations	649	620	1,286	1,218
General and administrative (including equity-based compensation expense)	64,099	60,102	128,797	116,389
Total operating expenses	666,646	640,675	1,360,882	1,282,930
Operating income (loss)	123,743	(889,873)	625,086	(811,124)
Other income (expenses):
Income Loss From Equity Method Investments	3,623	484	5,854	484
Interest	(68,582)	(62,595)	(135,252)	(125,879)
Total other expenses	(64,959)	(62,111)	(129,398)	(125,395)
Income (loss) before income taxes	58,784	(951,984)	495,688	(936,519)
Provision for income tax (expense) benefit	(18,819)	376,494	(150,165)	371,679
Net income (loss) and comprehensive income (loss) including noncontrolling interest	39,965	(575,490)	345,523	(564,840)
Net income and comprehensive income attributable to noncontrolling interest	45,097	20,754	82,259	36,459
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (5,132)	$ (596,244)	$ 263,264	$ (601,299)
Earnings (loss) per common share:
Earnings (loss) per common share - basic (in dollars per share)	$ (0.02)	$ (2.12)	$ 0.84	$ (2.15)
Earnings (loss) per common share assuming dilution:
Earnings (loss) per common share—assuming dilution (in dollars per share)	$ (0.02)	$ (2.12)	$ 0.83	$ (2.15)
Weighted average number of shares outstanding
Basic (in shares)	315,401	281,786	315,179	279,418
Diluted (in shares)	315,401	281,786	315,927	279,418

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Equity-based compensation expense	$ 26,975	$ 25,816	$ 52,478	$ 49,286

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Common Stock	Additional paid-in capital	Accumulated earnings	Noncontrolling Interests	Total
Balances at Dec. 31, 2016	$ 3,149	$ 5,299,481	$ 959,995	$ 1,465,953	$ 7,728,578
Shares Issued, Beginning Balance at Dec. 31, 2016	314,877
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income tax withholdings	$ 5	(7,506)			(7,501)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income tax withholdings (in shares)	571
Issuance of common units by subsidiary - Antero Midstream Partners LP				246,585	246,585
Issuance of common units in Antero Midstream LP upon vesting of equity-based compensation awards, net of units withheld for income tax withholdings		(1,559)		627	(932)
Equity-based compensation		47,897		4,581	52,478
Net income (loss) and including noncontrolling interest			263,264	82,259	345,523
Effects of changes in ownership interests in consolidated subsidiaries		1,096,734		(1,096,734)
Distributions to non-controlling interests				(61,869)	(61,869)
Balances at Jun. 30, 2017	$ 3,154	$ 6,435,047	$ 1,223,259	$ 641,402	$ 8,302,862
Shares Issued, Ending Balance at Jun. 30, 2017	315,448

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income (loss) including noncontrolling interest	$ 345,523	$ (564,840)
Adjustment to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion	405,197	390,162
Impairment of unproved properties	42,098	35,470
Derivative fair value (gains) losses	(524,416)	404,710
Gains on settled derivatives	(75,913)	(616,848)
Deferred income tax expense (benefit)	150,165	(371,679)
Equity-based compensation expense	52,478	49,286
Equity in earnings of unconsolidated affiliate	(5,854)	(484)
Distributions of earnings from unconsolidated affiliates	5,820
Other	(472)	(621)
Changes in current assets and liabilities:
Accounts receivable	13,188	7,798
Accrued revenue	43,339	(5,237)
Other current assets	(2,385)	1,559
Accounts payable	2,072	13,223
Accrued liabilities	4,204	(3,362)
Revenue distributions payable	39,162	5,105
Other current liabilities	610	(474)
Net cash provided by operating activities	647,586	578,706
Cash flows used in investing activities:
Additions to proved properties	(179,318)
Additions to unproved properties	(129,876)	(58,195)
Drilling and completion costs	(629,308)	(709,974)
Additions to water handling and treatment systems	(95,451)	(78,625)
Additions to gathering systems and facilities	(155,365)	(97,300)
Additions to other property and equipment	(6,564)	(1,296)
Investments in unconsolidated affiliates	(191,364)	(45,044)
Change in other assets	(12,452)	(47,925)
Other	2,156
Net cash used in investing activities	(1,397,542)	(1,038,359)
Cash flows from financing activities:
Issuance of common stock		752,599
Issuance of common units by Antero Midstream Partners LP	246,585
Proceeds From Sale Of Interest In Partnership Unit		178,000
Borrowings (repayments) on bank credit facility, net	585,000	(427,000)
Payments of deferred financing costs		(96)
Distributions to noncontrolling interest in consolidated subsidiary	(61,869)	(31,681)
Employee tax withholding for settlement of equity compensation awards	(8,433)	(4,819)
Other	(2,747)	(2,572)
Net cash provided by financing activities	758,536	464,431
Net increase in cash and cash equivalents	8,580	4,778
Cash and cash equivalents, beginning of period	31,610	23,473
Cash and cash equivalents, end of period	40,190	28,251
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	125,284	121,128
Supplemental disclosure of noncash investing activities:
Increase (decrease) in accounts payable and accrued liabilities for additions to property and equipment	$ (31,182)	$ 155,671

Organization

Organization	6 Months Ended
	Jun. 30, 2017
Organization
Organization	(1) Antero Resources Corporation (individually referred to as “Antero” or the “Parent”) and its consolidated subsidiaries (collectively referred to as the “Company”) are engaged in the exploration, development, and acquisition of natural gas, 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. Through its consolidated subsidiary, Antero Midstream Partners LP, a publicly-traded limited partnership (“Antero Midstream” or the “Partnership”), the Company has water handling and treatment operations and midstream operations in the Appalachian Basin. The Company’s corporate headquarters are located in Denver, Colorado.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(2) (a) These condensed 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, 2016 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The December 31, 2016 consolidated financial statements have been filed with the SEC in the Company’s 2016 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 December 31, 2016 and June 30, 2017, the results of its operations for the three and six months ended June 30, 2016 and 2017, and its cash flows for the six months ended June 30, 2016 and 2017. 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 June 30, 2017 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, fluctuations in the fair value of derivative instruments, and other factors. The Company’s statement of cash flows for the six months ended June 30, 2016 includes reclassifications within current liabilities that were made to conform to the six months ended June 30, 2017 presentation. 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. (b) The accompanying condensed consolidated financial statements include the accounts of Antero, its wholly-owned subsidiaries, any entities in which the Company owns a controlling interest, and variable interest entities (“VIEs”) for which the Company is the primary beneficiary. We have determined that Antero Midstream is a VIE for which Antero is the primary beneficiary. Therefore, Antero Midstream’s accounts are included in the Company’s condensed consolidated financial statements. Antero is the primary beneficiary of Antero Midstream based on its power to direct the activities that most significantly impact Antero Midstream’s economic performance, and its obligation to absorb losses or right to receive benefits of Antero Midstream that could be significant to the Partnership. Antero Midstream was formed to own, operate, and develop midstream energy assets to service Antero’s production under long-term service contracts. Antero owned 58.4% of the outstanding limited partner interests in Antero Midstream at June 30, 2017. Antero Midstream GP LP (“AMGP”) indirectly controls the general partnership interest in Antero Midstream as well as Antero IDR Holdings LLC (“IDR LLC”), which owns the incentive distribution rights in Antero Midstream. AMGP has not provided, and is not expected to provide, financial support to Antero Midstream. Antero’s officers and management group also act as management of Antero Midstream and AMGP. Antero and Antero Midstream have contracts with 20-year initial terms and automatic renewal provisions, whereby Antero has dedicated the rights for gathering and compression, and water delivery and handling, services to Antero Midstream on a fixed-fee basis. Such dedications cover a substantial portion of Antero’s current acreage and future acquired acreage, in each case, except for acreage that was already dedicated to other parties prior to entering into the service contracts or that was acquired subject to a pre-existing dedication. The contracts call for Antero to present, in advance, its drilling and completion plans in order for Antero Midstream to develop gathering and compression, water delivery and handling, and gas processing assets to service Antero’s operations. Consequently, the drilling and completion capital investment decisions made by Antero control the development and operation of all of Antero Midstream’s assets. Because of these contractual obligations and the capital requirements related to these obligations, Antero Midstream has and, for the foreseeable future, will devote substantially all of its resources to servicing Antero’s operations. Additionally, revenues from Antero provide substantially all of Antero Midstream’s financial support and, therefore, its ability to finance its operations. As a result of the long-term contractual commitment to support Antero’s substantial growth plans, Antero Midstream will be practically and physically constrained from providing any substantive amount of services to third-parties. Therefore, Antero controls the activities that most significantly impact Antero Midstream’s economic performance. Antero does not control AMGP and does not have any investment in AMGP. All significant intercompany accounts and transactions have been eliminated in the Company’s condensed consolidated financial statements. Noncontrolling interest in the Company’s condensed consolidated financial statements represents the interests in Antero Midstream which are owned by the public and the holder of Antero Midstream’s incentive distribution rights. Noncontrolling interests in consolidated subsidiaries is included as a component of equity in the Company’s condensed consolidated balance sheets. Investments in entities for which the Company exercises significant influence, but not control, are accounted for under the equity method. Such investments are included in Investments in unconsolidated affiliates on the Company’s condensed consolidated balance sheets. Income from equity method investees is included in Equity in earnings of unconsolidated affiliates on the Company’s condensed consolidated statements of operations and cash flows. (c) The preparation of condensed consolidated financial statements in conformity with GAAP requires that management formulate estimates and assumptions which affect revenues, expenses, assets, and liabilities, and the disclosure of contingent assets and liabilities. 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 and impairment of oil and gas properties. Reserve estimates, by their nature, are inherently imprecise. Other items in the Company’s condensed consolidated financial statements which involve the use of significant estimates include derivative assets and liabilities, accrued revenue, deferred income taxes, equity-based compensation, asset retirement obligations, depreciation, amortization, and commitments and contingencies. (d) Historically, the markets for natural gas, NGLs, and oil have experienced significant price fluctuations. Price fluctuations can result from variations in weather, levels of production, 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 and reserve quantities. (e) In order to manage its exposure to natural gas, NGLs, and oil price volatility, the Company enters into derivative transactions from time to time, which may include commodity swap agreements, basis swap agreements, collar agreements, and other similar agreements related to the price risk associated with the Company’s 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 that the counterparty is unable to satisfy its settlement obligations. 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 condensed consolidated balance sheets as either assets or liabilities 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, including gains or losses on settled 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. (f) 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 processing; (3) water handling and treatment; 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. (g) Earnings (loss) per common share —basic for each period is computed by dividing net income (loss) attributable to Antero by the basic weighted average number of shares outstanding during the period. Earnings (loss) per common share—assuming dilution for each period is computed after giving consideration to the potential dilution from outstanding equity awards, calculated using the treasury stock method. The Company includes performance share unit awards in the calculation of diluted weighted average shares outstanding based on the number of common shares that would be issuable if the end of the period was also the end of the performance period required for the vesting of such awards. During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards is antidilutive. The following is a reconciliation of the Company’s basic weighted average shares outstanding to diluted weighted average shares outstanding during the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Basic weighted average number of shares outstanding 281,786 315,401 279,418 315,179 Add: Dilutive effect of non-vested restricted stock units — — — 710 Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of performance stock units — — — 38 Diluted weighted average number of shares outstanding 281,786 315,401 279,418 315,927 Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share(1): Non-vested restricted stock and restricted stock units 6,982 5,105 6,862 1,596 Outstanding stock options 706 679 713 681 Performance stock units 724 1,213 471 896 (1) The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common share—assuming dilution because the inclusion of these awards would have been anti-dilutive. When the Company incurs a net loss, all outstanding equity awards are excluded from the calculation of diluted loss per common share because the inclusion of such awards would be anti-dilutive. (h) 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. From time to time, the Company may be in the position of a “book overdraft” in which outstanding checks exceed cash and cash equivalents. The Company classifies book overdrafts within accounts payable within its condensed consolidated balance sheets, and classifies the change in accounts payable associated with book overdrafts as an operating activity within its condensed consolidated statements of cash flows. (i) For the three and six months ended June 30, 2016, the Company’s overall effective tax rate was different than the statutory rate of 35% primarily due to the effects of noncontrolling interest income and state tax rates. For the three and six months ended June 30, 2017, the Company’s overall effective tax rate was different than the statutory rate of 35% primarily due to the effects of noncontrolling interest income, state tax rates, and permanent differences on vested equity compensation awards.

Antero Midstream Partners LP

Antero Midstream Partners LP	6 Months Ended
	Jun. 30, 2017
Antero Midstream Partners LP
Antero Midstream Partners LP	(3) In 2014, the Company formed Antero Midstream to own, operate, and develop midstream energy assets that service Antero’s production. Antero Midstream’s assets consist of gathering systems and facilities, and water handling and treatment facilities, through which it provides services to Antero under long-term, fixed-fee contracts. AMGP indirectly owns the general partnership interest in Antero Midstream as well as IDR LLC, which owns the incentive distribution rights in Antero Midstream. Antero Midstream is an unrestricted subsidiary as defined by Antero’s senior secured revolving bank credit facility (the “Credit Facility”). As an unrestricted subsidiary, Antero Midstream and its subsidiaries are not guarantors of Antero’s obligations, and Antero is not a guarantor of Antero Midstream’s obligations (see Note 12). In connection with Antero’s contribution of its water handling and treatment assets to Antero Midstream in September 2015, Antero Midstream agreed to pay Antero (a) $125 million in cash if Antero Midstream delivers 176,295,000 barrels or more of fresh water during the period between January 1, 2017 and December 31, 2019 and (b) an additional $125 million in cash if Antero Midstream delivers 219,200,000 barrels or more of fresh water during the period between January 1, 2018 and December 31, 2020. The Partnership has an Equity Distribution Agreement (the “Distribution Agreement”) pursuant to which the Partnership may sell, from time to time through brokers acting as its sales agents, common units representing limited partner interests having an aggregate offering price of up to $250 million. Sales of the common units are made by means of ordinary brokers’ transactions on the New York Stock Exchange, at market prices, in block transactions, or as otherwise agreed to between Antero Midstream and the sales agents. Proceeds are used for general partnership purposes, which may include repayment of indebtedness and funding working capital or capital expenditures. The Partnership is under no obligation to offer and sell common units under the Distribution Agreement. During the six months ended June 30, 2017, the Partnership issued and sold 700,031 common units under the Distribution Agreement, resulting in net proceeds of $23.1 million after deducting commissions and other offering costs. As of June 30, 2017, Antero Midstream had the capacity to issue additional common units under the Distribution Agreement up to an aggregate sales price of $159.9 million. On May 26, 2016, Antero Midstream purchased a 15% equity interest in a regional gathering pipeline. This investment is accounted for under the equity method, and had a balance of $67.6 million at June 30, 2017. Antero Midstream’s equity share of the pipeline’s earnings was $5.1 million during the six months ended June 30, 2017. On February 6, 2017, Antero Midstream formed a joint venture (the “Joint Venture”) to develop processing assets in Appalachia with MarkWest Energy Partners, L.P. (“MarkWest”), a wholly owned subsidiary of MPLX, L.P. Antero Midstream and MarkWest each own a 50% interest in the Joint Venture and MarkWest operates the Joint Venture assets. The Joint Venture assets consist of processing plants in West Virginia and a one-third interest in a recently commissioned MarkWest fractionator in Ohio. The Joint Venture is accounted for under the equity method, and had a balance of $192.1 million at June 30, 2017. Antero Midstream’s equity share of the Joint Venture’s earnings was $0.8 million during the six months ended June 30, 2017. In conjunction with the formation of the Joint Venture, on February 10, 2017 Antero Midstream issued 6,900,000 common units, including common units issued pursuant to the underwriters’ option to purchase additional common units, generating net proceeds of approximately $223 million. Antero Midstream used the net proceeds to fund the initial contribution to the Joint Venture, repay outstanding borrowings under its credit facility, and for general partnership purposes. Antero owned approximately 60.9% and 58.4% of the limited partner interests of Antero Midstream at December 31, 2016 and June 30, 2017, respectively.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2017
Accrued Liabilities
Accrued Liabilities	(4) Accrued Liabilities Accrued liabilities as of December 31, 2016 and June 30, 2017 consisted of the following items (in thousands): December 31, 2016 June 30, 2017 Capital expenditures $ 159,811 173,981 Gathering, compression, processing, and transportation expenses 75,223 83,474 Marketing expenses 52,822 30,123 Interest expense 35,533 45,628 Other 70,414 85,146 $ 393,803 418,352

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2017
Long-Term Debt.
Long-Term Debt	(5) Long-Term Debt Long-term debt was as follows at December 31, 2016 and June 30, 2017 (in thousands): December 31, 2016 June 30, 2017 Antero: Bank credit facility(a) $ 440,000 930,000 5.375% senior notes due 2021(b) 1,000,000 1,000,000 5.125% senior notes due 2022(c) 1,100,000 1,100,000 5.625% senior notes due 2023(d) 750,000 750,000 5.00% senior notes due 2025(e) 600,000 600,000 Net unamortized premium 1,749 1,655 Net unamortized debt issuance costs (37,690) (35,131) Antero Midstream: Bank credit facility(g) 210,000 305,000 5.375% senior notes due 2024(h) 650,000 650,000 Net unamortized debt issuance costs (10,086) (9,551) $ 4,703,973 5,291,973 Antero Resources Corporation (a) Senior Secured Revolving Credit Facility Antero’s Credit Facility is 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 assets and are subject to regular semiannual redeterminations. At June 30, 2017, the borrowing base was $4.75 billion and lender commitments were $4.0 billion. The next redetermination of the borrowing base is scheduled to occur in October 2017. The maturity date of the Credit Facility is May 5, 2019. The Credit Facility is ratably secured by mortgages on substantially all of Antero’s properties and guarantees from Antero’s restricted subsidiaries, as applicable. The Credit Facility contains certain covenants, including restrictions on indebtedness and dividends, and 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, 2016 and June 30, 2017. As of June 30, 2017, Antero had a total outstanding balance under the Credit Facility of $930 million, with a weighted average interest rate of 2.99%, and outstanding letters of credit of $706 million. As of December 31, 2016, Antero had an outstanding balance under the Credit Facility of $440 million, with a weighted average interest rate of 2.44%, and outstanding letters of credit of $710 million. Commitment fees on the unused portion of the Credit Facility are due quarterly at rates ranging from 0.375% to 0.50% of the unused portion based on utilization. (b) 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 to the extent of the value of the collateral securing the Credit Facility. 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 at redemption prices ranging from 104.031% currently to 100.00% on or after November 1, 2019. 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 and unpaid interest. (c) 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 to the extent of the value of the collateral securing the Credit Facility. 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 at redemption prices ranging from 103.844% currently to 100.00% on or after June 1, 2020. 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 and unpaid interest. (d) 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 to the extent of the value of the collateral securing the Credit Facility. 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 and unpaid 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 and unpaid interest. 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 and unpaid interest. (e) 5.00% Senior Notes Due 2025 On December 21, 2016, Antero issued $600 million of 5.00% senior notes due March 1, 2025 (the “2025 notes”) at par. The 2025 notes are unsecured and effectively subordinated to the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The 2025 notes rank pari passu to Antero’s other outstanding senior notes. The 2025 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 2025 notes is payable on March 1 and September 1 of each year. Antero may redeem all or part of the 2025 notes at any time on or after March 1, 2020 at redemption prices ranging from 103.750% on or after March 1, 2020 to 100.00% on or after March 1, 2023. In addition, on or before March 1, 2020, Antero may redeem up to 35% of the aggregate principal amount of the 2025 notes with the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 105.00% of the principal amount of the 2025 notes, plus accrued and unpaid interest. At any time prior to March 1, 2020, Antero may also redeem the 2025 notes, in whole or in part, at a price equal to 100% of the principal amount of the 2025 notes plus a “make-whole” premium and accrued and unpaid interest. If Antero undergoes a change of control, the holders of the 2025 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 2025 notes, plus accrued and unpaid interest. (f) 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 revolving note bear interest at the lender’s prime rate plus 1.0%. The note matures on May 1, 2018. At December 31, 2016 and June 30, 2017, there were no outstanding borrowings under this note. Antero Midstream Partners LP (g) Senior Secured Revolving Credit Facility – Antero Midstream Antero Midstream has a secured revolving credit facility (the “Midstream Facility”) with a syndicate of bank lenders. At June 30, 2017, lender commitments were $1.5 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, 2016 and June 30, 2017. As of June 30, 2017, Antero Midstream had an outstanding balance under the Midstream Facility of $305 million with a weighted average interest rate of 2.62%. As of December 31, 2016, Antero Midstream had a total outstanding balance under the Midstream Facility of $210 million with a weighted average interest rate of 2.23%. 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 portion based on utilization. (h) 5.375% Senior Notes Due 2024 – Antero Midstream On September 13, 2016, Antero Midstream and its wholly-owned subsidiary, Antero Midstream Finance Corporation (“Midstream Finance Corp.”) as co-issuers, issued $650 million in aggregate principal amount of 5.375% senior notes due September 15, 2024 (the “2024 Midstream notes”) at par. The 2024 Midstream notes are unsecured and effectively subordinated to the Midstream Facility to the extent of the value of the collateral securing the Midstream Facility. The 2024 Midstream notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero Midstream’s wholly-owned subsidiaries, excluding Midstream Finance Corp., and certain of Antero Midstream’s future restricted subsidiaries. Interest on the 2024 Midstream notes is payable on March 15 and September 15 of each year. Antero Midstream may redeem all or part of the 2024 Midstream notes at any time on or after September 15, 2019 at redemption prices ranging from 104.031% on or after September 15, 2019 to 100.00% on or after September 15, 2022. In addition, prior to September 15, 2019, Antero Midstream may redeem up to 35% of the aggregate principal amount of the 2024 Midstream notes with an amount of cash not greater than 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 2024 Midstream notes, plus accrued and unpaid interest. At any time prior to September 15, 2019, Antero Midstream may also redeem the 2024 Midstream notes, in whole or in part, at a price equal to 100% of the principal amount of the 2024 Midstream notes plus a “make-whole” premium and accrued and unpaid interest. If Antero Midstream undergoes a change of control, the holders of the 2024 Midstream notes will have the right to require Antero Midstream to repurchase all or a portion of the notes at a price equal to 101% of the principal amount of the 2024 Midstream notes, plus accrued and unpaid interest.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2017
Asset Retirement Obligations
Asset Retirement Obligations	(6) The following is a reconciliation of the Company’s asset retirement obligations for the six months ended June 30, 2017 (in thousands): Asset retirement obligations—December 31, 2016 $ 32,736 Obligations incurred for wells drilled and producing properties acquired 2,824 Accretion expense 1,286 Asset retirement obligations—June 30, 2017 $ 36,846 Asset retirement obligations are included in Other liabilities on the Company’s condensed consolidated balance sheets.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2017
Equity-Based Compensation
Equity-Based Compensation	(7) 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 7,645,937 shares were available for future grant under the Plan as of June 30, 2017. Antero Midstream is authorized to grant up to 10,000,000 common units representing limited partner interests in Antero Midstream under the Antero Midstream Partners LP Long-Term Incentive Plan (the “Midstream Plan”) to non-employee directors of AMP GP and certain officers, employees, and consultants of Antero Midstream and its affiliates (which include Antero). A total of 7,667,042 common units were available for future grant under the Midstream Plan as of June 30, 2017. The Company’s equity-based compensation expense, by type of award, was as follows for the three and six months ended June 30, 2016 and 2017 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Restricted stock unit awards $ 18,146 18,681 35,613 36,906 Stock options 641 616 1,301 1,236 Performance share unit awards 2,466 2,748 3,349 4,883 Antero Midstream phantom unit awards 4,013 4,443 8,001 8,486 Equity awards issued to directors 550 487 1,022 967 Total expense $ 25,816 26,975 49,286 52,478 Restricted Stock Unit Awards Restricted stock unit awards vest subject to the satisfaction of service requirements. Expense related to each restricted stock unit award is recognized on a straight-line basis over the requisite service period of the entire award. Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. 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 unit awards activity for the six months ended June 30, 2017 is as follows: Weighted Aggregate Number of grant date intrinsic value Total awarded and unvested—December 31, 2016 5,353,447 $ 31.77 $ 126,609 Granted 757,694 $ 22.23 Vested (826,675) $ 44.32 Forfeited (195,400) $ 23.96 Total awarded and unvested—June 30, 2017 5,089,066 $ 28.56 $ 109,975 Intrinsic values are based on the closing price of the Company’s stock on the referenced dates. As of June 30, 2017, there was $105.6 million of unamortized equity-based compensation expense related to unvested restricted stock units. That expense is expected to be recognized over a weighted average period of approximately 1.9 years. Stock Options Stock options granted under the Plan 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. Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. Stock options are granted with an exercise price equal to or greater than the market price of the Company’s common stock on the date of grant. A summary of stock option activity for the six months ended June 30, 2017 is as follows: Weighted Weighted average Intrinsic Stock exercise contractual value Outstanding at December 31, 2016 687,929 $ 50.46 8.12 $ — Granted — $ — Exercised — $ — Forfeited (10,458) $ 50.00 Expired — $ — Outstanding at June 30, 2017 677,471 $ 50.47 7.61 $ — Vested or expected to vest as of June 30, 2017 677,471 $ 50.47 7.61 $ — Exercisable at June 30, 2017 364,855 $ 50.70 7.52 $ — Intrinsic values are based on the exercise price of the options and the closing price of the Company’s stock on the referenced dates. As of June 30, 2017, there was $4.0 million of unamortized equity-based compensation expense related to unvested stock options. That expense is expected to be recognized over a weighted average period of approximately 1.8 years. Performance Share Unit Awards Performance Share Unit Awards Based on Price Targets In 2016, the Company granted performance share unit awards (“PSUs”) to certain of its executive officers that are based on price targets. The vesting of these PSUs is conditioned on the closing price of the Company’s common stock achieving specific price thresholds over 10-day periods, subject to the following vesting restrictions: no PSUs may vest before the first anniversary of the grant date; no more than one-third of the PSUs may vest before the second anniversary of the grant date; and no more than two-thirds of the PSUs may vest before the third anniversary of the grant date. Any PSUs which have not vested by the fifth anniversary of the grant date will expire. Expense related to these PSUs is recognized on a graded basis over three years. Performance Share Unit Awards Based on Total Shareholder Return In 2016 and 2017, the Company also granted PSUs to certain of its employees and executive officers which vest based on the total shareholder return (“TSR”) of the Company’s common stock relative to the TSR of a peer group of companies over a three-year performance period. The number of performance shares which may ultimately be earned ranges from zero to 200% of the PSUs granted. Expense related to these PSUs is recognized on a straight-line basis over three years. Summary Information for Performance Share Unit Awards A summary of PSU activity for the six months ended June 30, 2017 is as follows: Number of Weighted Total awarded and unvested—December 31, 2016 785,301 $ 29.75 Granted 558,021 $ 26.21 Vested (41,666) $ 27.38 Forfeited (8,623) $ 29.86 Total awarded and unvested—June 30, 2017 1,293,033 $ 28.30 The following table present information regarding the weighted average fair value for PSUs granted during the six months ended June 30, 2017 and the assumptions used to determine the fair values. Six Months Ended June 30, 2017 Dividend yield — % Volatility 42 % Risk-free interest rate 1.40 % Weighted average fair value of awards granted $ 26.21 As of June 30, 2017, there was $24.2 million of unamortized equity-based compensation expense related to unvested PSUs. That expense is expected to be recognized over a weighted average period of approximately 2.3 years. Antero Midstream Partners Phantom Unit Awards 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 phantom units. These 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 its employees, and a portion of the expense is allocated to Antero Midstream. Expense related to each phantom unit award is recognized on a straight-line basis over the requisite service period of the entire award. Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. 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 phantom unit awards activity for the six months ended June 30, 2017 is as follows: Number of Weighted Aggregate Total awarded and unvested—December 31, 2016 1,331,961 $ 27.31 $ 41,131 Granted 340,773 $ 32.45 Vested (73,080) $ 21.34 Forfeited (48,760) $ 28.85 Total awarded and unvested—June 30, 2017 1,550,894 $ 28.68 $ 51,459 Intrinsic values are based on the closing price of Antero Midstream’s common units on the referenced dates. As of June 30, 2017, there was $34.4 million of unamortized equity-based compensation expense related to unvested phantom unit awards. That expense is expected to be recognized over a weighted average period of approximately 2.3 years.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2017
Financial Instruments
Financial Instruments	(8) Financial Instruments The carrying values of accounts receivable and accounts payable at December 31, 2016 and June 30, 2017 approximated market values because of their short-term nature. The carrying values of the amounts outstanding under the Credit Facility and Midstream Facility at December 31, 2016 and June 30, 2017 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 Antero’s senior notes was approximately $3.5 billion at December 31, 2016 and June 30, 2017. Based on Level 2 market data inputs, the fair value of Antero Midstream’s senior notes was approximately $657 million at December 31, 2016 and $668 million at June 30, 2017. See Note 9 for information regarding the fair value of derivative financial instruments.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments.
Derivative Instruments	(9) Derivative Instruments (a) Commodity Derivative Positions The Company periodically enters into natural gas, NGLs, and oil derivative contracts with counterparties to hedge the price risk associated with 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. The Company was party to various fixed price commodity swap contracts that settled during the six months ended June 30, 2016 and 2017. The Company enters into these swap contracts when management believes that favorable future sales prices for the Company’s production can be secured. Under these swap agreements, when actual commodity prices upon settlement exceed the fixed price provided by the swap contracts, the Company pays the difference to the counterparty. When actual commodity prices upon settlement are less than the contractually provided fixed price, the Company receives the difference from the counterparty. In addition to fixed price swap contracts, the Company has entered into basis swap contracts in order to hedge the difference between the New York Mercantile Exchange (“NYMEX”) index price and a local index price at which the Company sells a portion of its natural gas production. 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 June 30, 2017, the Company’s fixed price natural gas, NGLs, and oil swap positions from July 1, 2017 through December 31, 2023 were as follows (abbreviations in the table refer to the index to which the swap position is tied, as follows: NYMEX=Henry Hub; CGTLA=Columbia Gas Louisiana Onshore; CCG=Chicago City Gate; Mont Belvieu-Ethane=Mont Belvieu Purity Ethane; Mont Belvieu-Propane=Mont Belvieu Propane; NYMEX-WTI=West Texas Intermediate): Natural gas Oil Natural Gas Weighted Three months ending September 30, 2017: NYMEX ($/MMBtu) 1,370,000 — — $ 3.33 CGTLA ($/MMBtu) 420,000 — — $ 4.20 CCG ($/MMBtu) 70,000 — — $ 4.45 NYMEX-WTI ($/Bbl) — 3,000 — $ 54.75 Mont Belvieu-Ethane ($/Gallon) — — 20,000 $ 0.25 Mont Belvieu-Propane ($/Gallon) — — 27,500 $ 0.39 Total 1,860,000 3,000 47,500 Three months ending December 31, 2017: NYMEX ($/MMBtu) 1,370,000 — — $ 3.46 CGTLA ($/MMBtu) 420,000 — — $ 4.37 CCG ($/MMBtu) 70,000 — — $ 4.68 NYMEX-WTI ($/Bbl) — 3,000 — $ 54.75 Mont Belvieu-Ethane ($/Gallon) — — 20,000 $ 0.25 Mont Belvieu-Propane ($/Gallon) — — 27,500 $ 0.40 Total 1,860,000 3,000 47,500 Year ending December 31, 2018: NYMEX ($/MMBtu) 2,002,500 — $ 3.91 Mont Belvieu-Propane ($/Gallon) — 2,000 $ 0.65 Total 2,002,500 2,000 Year ending December 31, 2019: NYMEX ($/MMBtu) 2,330,000 $ 3.70 Year ending December 31, 2020: NYMEX ($/MMBtu) 1,417,500 $ 3.63 Year ending December 31, 2021: NYMEX ($/MMBtu) 710,000 $ 3.31 Year ending December 31, 2022: NYMEX ($/MMBtu) 850,000 $ 3.16 Year ending December 31, 2023: NYMEX ($/MMBtu) 90,000 $ 2.91 As of June 30, 2017, 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, were as follows: Natural gas Hedged Differential ($/MMBtu) Six months ending December 31, 2017: 125,000 $ (0.51) As of June 30, 2017, the Company’s natural gas basis swap positions, which settle on the pricing index to basis differential of NYMEX Henry Hub to the TCO natural gas price, were as follows: Natural gas Hedged Differential ($/MMBtu) Six months ending December 31, 2017: 125,000 $ 0.38 (b) The following table presents 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, 2016 and June 30, 2017. None of the Company’s derivative instruments are designated as hedges for accounting purposes. December 31, 2016 June 30, 2017 Balance sheet Fair value Balance sheet Fair value (In thousands) (In thousands) Asset derivatives not designated as hedges for accounting purposes: Commodity contracts Current assets $ 73,022 Current assets 452,005 Commodity contracts Long-term assets 1,731,063 Long-term assets 1,600,165 Total asset derivatives 1,804,085 2,052,170 Liability derivatives not designated as hedges for accounting purposes: Commodity contracts Current liabilities 203,635 Current liabilities 3,279 Commodity contracts Long-term liabilities 234 Long-term liabilities 172 Total liability derivatives 203,869 3,451 Net derivatives $ 1,600,216 2,048,719 The following table presents the gross values 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, 2016 June 30, 2017 Gross Gross amounts Net amounts Gross Gross amounts Net amounts Commodity derivative assets $ 1,914,245 (110,160) 1,804,085 $ 2,161,257 (109,087) 2,052,170 Commodity derivative liabilities $ (324,667) 120,798 (203,869) $ (3,451) — (3,451) The following is a summary of derivative fair value gains and where such values are recorded in the condensed consolidated statements of operations for the three and six months ended June 30, 2016 and 2017 (in thousands): Statement of Three months ended June 30, Six months ended June 30, location 2016 2017 2016 2017 Commodity derivative fair value gains (losses) Revenue $ (684,634) 85,641 $ (404,710) 524,416 The fair value of commodity derivative instruments was determined using Level 2 inputs.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2017
Contingencies
Contingencies	(10) Contingencies The Company is the plaintiff in two nearly identical lawsuits against South Jersey Gas Company and South Jersey Resources Group, LLC (collectively, “SJGC”) pending in United States District Court in Colorado. The Company filed suit against SJGC seeking relief for breach of contract and damages in the amounts that SJGC have short paid, and continue to short pay, the Company in connection with two long term gas contracts. Under those contracts, SJGC are long term purchasers of some of the Company’s natural gas production. Deliveries under the contracts began in October 2011 and the delivery obligation continues through October 2019. SJGC unilaterally breached the contracts claiming 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. Beginning in October 2014, SJGC began short paying the Company based on indexes unilaterally selected by SJGC and not the index specified in the contract. The Company contends that no market disruption event has occurred and that SJGC have breached the contracts by failing to pay the Company based on the express price terms of the contracts. On May 8, 2017, a jury in the United States District Court in Colorado returned a unanimous verdict finding in favor of Antero’s positions in its lawsuits against SJGC. On July 21, 2017, the court entered a final judgment in Antero’s favor. SJGC will have 30 days from the entry of final judgment to file an appeal. Through June 30, 2017, the Company estimates that it is owed approximately $60 million more than SJGC have paid using the indexes unilaterally selected by them. The Company and Washington Gas Light Company and WGL Midstream, Inc. (collectively, “WGL”) are also involved in a pricing dispute involving contracts that the Company began delivering gas under in January 2016. The Company has invoiced WGL at the index price specified in the contract and WGL has paid the Company based on that invoice price; however, WGL asserted that the index price was no longer appropriate under the contracts and that an undefined alternative index was more appropriate for the delivery point of the gas. In July 2016, the matter was referred to arbitration by the Colorado district court. In January 2017, the arbitration panel ruled in the Company’s favor. As a result, the index price has remained as specified in the contracts and there will be no adjustments to the invoices that have been paid by WGL. The arbitration panel’s award was confirmed by a Colorado district court. In March of 2017, WGL filed a second lawsuit against the Company in Colorado district court seeking relief for breach of contract and damages of more than $30 million, alleging that the Company breached its contractual obligations under two long term gas contracts by failing to deliver “TCO pool” gas. The Company will vigorously defend this lawsuit and believes it has numerous compelling defenses to WGL’s claims, including without limitation, that WGL’s claims were already decided against them in the arbitration. On July 12, 2017, the Company asserted counterclaims against WGL based on WGL’s failure to take receipt of the quantity of gas required under the contracts since April 2017. In instances when WGL has failed to take receipt of the quantity of gas required under the contracts, the Company has resold the gas and invoiced WGL for cover damages pursuant to the contract standard, but WGL has refused to pay. Through June 30, 2017, these damages amounted to approximately $17 million. The Company will seek to recover those damages and others as part of its counterclaims against WGL. 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 cash flows.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Information
Segment Information	(11) See Note 2(f) for a description of the Company’s determination of its reportable segments. Revenues from gathering and processing and water handling and treatment operations are primarily derived from intersegment transactions for services provided to the Company’s exploration and production operations. Marketing revenues are primarily derived from activities to purchase and sell third-party natural gas and NGLs and to market excess firm transportation capacity to third parties. Operating segments are evaluated based on their contribution to consolidated results, which is primarily determined by the respective operating income of each segment. General and administrative expenses are allocated to the gathering and processing and water handling and treatment segments based on the nature of the expenses and on a combination of the segments’ proportionate share of the Company’s consolidated property and equipment, capital expenditures, and labor costs, as applicable. 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 transacted at prices which approximate 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 June 30, 2016 and 2017 (in thousands): Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Three months ended June 30, 2016: Sales and revenues: Third-party $ (343,394) 3,131 163 90,902 — (249,198) Intersegment 3,899 68,785 64,730 — (137,414) — Total $ (339,495) 71,916 64,893 90,902 (137,414) (249,198) Operating expenses: Lease operating $ 12,257 — 34,317 — (34,531) 12,043 Gathering, compression, processing, and transportation 267,738 6,997 — — (68,675) 206,060 Depletion, depreciation, and amortization 173,015 17,172 7,175 — — 197,362 General and administrative 47,167 10,138 3,168 — (371) 60,102 Other 37,848 450 4,294 125,977 (3,461) 165,108 Total 538,025 34,757 48,954 125,977 (107,038) 640,675 Operating income (loss) $ (877,520) 37,159 15,939 (35,075) (30,376) (889,873) Equity in earnings of unconsolidated affiliates $ — 484 — — — 484 Segment assets $ 11,919,732 1,598,826 569,624 23,045 (552,447) 13,558,780 Capital expenditures for segment assets $ 375,247 48,614 41,589 — (30,183) 435,267 Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Three months ended June 30, 2017: Sales and revenues: Third-party $ 737,229 2,324 868 49,968 — 790,389 Intersegment 3,911 96,438 94,137 — (194,486) — Total $ 741,140 98,762 95,005 49,968 (194,486) 790,389 Operating expenses: Lease operating $ 17,189 — 41,444 — (41,641) 16,992 Gathering, compression, processing, and transportation 353,216 9,910 — — (96,379) 266,747 Depletion, depreciation, and amortization 170,446 22,494 8,242 — — 201,182 General and administrative 49,531 10,705 4,084 — (221) 64,099 Other 39,251 12 4,532 77,421 (3,590) 117,626 Total 629,633 43,121 58,302 77,421 (141,831) 666,646 Operating income (loss) $ 111,507 55,641 36,703 (27,453) (52,655) 123,743 Equity in earnings of unconsolidated affiliates $ — 3,623 — — — 3,623 Segment assets $ 13,430,135 2,065,899 711,735 14,357 (779,905) 15,442,221 Capital expenditures for segment assets $ 584,832 88,806 58,497 — (52,487) 679,648 The operating results and assets of the Company’s reportable segments were as follows for the six months ended June 30, 2016 and 2017 (in thousands): Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Six months ended June 30, 2016: Sales and revenues: Third-party $ 274,550 6,718 420 190,118 — 471,806 Intersegment 7,724 134,825 130,919 — (273,468) — Total $ 282,274 141,543 131,339 190,118 (273,468) 471,806 Operating expenses: Lease operating $ 23,589 — 75,031 — (75,284) 23,336 Gathering, compression, processing, and transportation 535,183 14,167 — — (134,552) 414,798 Depletion, depreciation, and amortization 340,567 34,240 14,137 — — 388,944 General and administrative 90,719 19,473 6,924 — (727) 116,389 Other 73,013 899 8,498 263,910 (6,857) 339,463 Total 1,063,071 68,779 104,590 263,910 (217,420) 1,282,930 Operating income (loss) $ (780,797) 72,764 26,749 (73,792) (56,048) (811,124) Equity in earnings of unconsolidated affiliates $ — 484 — — — 484 Segment assets $ 11,919,732 1,598,826 569,624 23,045 (552,447) 13,558,780 Capital expenditures for segment assets $ 825,077 97,300 78,625 — (55,612) 945,390 Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Six months ended June 30, 2017: Sales and revenues: Third-party $ 1,864,280 4,863 933 115,892 — 1,985,968 Intersegment 8,351 185,558 177,182 — (371,091) — Total $ 1,872,631 190,421 178,115 115,892 (371,091) 1,985,968 Operating expenses: Lease operating $ 32,931 — 80,066 — (80,454) 32,543 Gathering, compression, processing, and transportation 700,984 18,024 — — (185,432) 533,576 Depletion, depreciation, and amortization 345,415 42,418 16,078 — — 403,911 General and administrative 100,587 20,843 8,403 — (1,036) 128,797 Other 92,869 12 8,876 167,414 (7,116) 262,055 Total 1,272,786 81,297 113,423 167,414 (274,038) 1,360,882 Operating income (loss) $ 599,845 109,124 64,692 (51,522) (97,053) 625,086 Equity in earnings of unconsolidated affiliates $ — 5,854 — — — 5,854 Segment assets $ 13,430,135 2,065,899 711,735 14,357 (779,905) 15,442,221 Capital expenditures for segment assets $ 1,041,782 155,365 95,451 — (96,716) 1,195,882

Subsidiary Guarantors

Subsidiary Guarantors	6 Months Ended
	Jun. 30, 2017
Subsidiary Guarantors
Subsidiary Guarantors	(12) Subsidiary Guarantors Antero’s wholly-owned subsidiaries each have fully and unconditionally guaranteed Antero’s senior notes. Antero Midstream and its subsidiaries have been designated as 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 5). 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, 2016 and June 30, 2017, and the related Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2016 and 2017 and Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2016 and 2017 present financial information for Antero on a stand-alone basis (carrying its investment in 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 are not restricted from making distributions to the Parent. Condensed Consolidating Balance Sheet December 31, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 17,568 — 14,042 — 31,610 Accounts receivable, net 28,442 — 1,240 — 29,682 Intercompany receivables 3,193 — 64,139 (67,332) — Accrued revenue 261,960 — — — 261,960 Derivative instruments 73,022 — — — 73,022 Other current assets 5,784 — 529 — 6,313 Total current assets 389,969 — 79,950 (67,332) 402,587 Property and equipment: Natural gas properties, at cost (successful efforts method): Unproved properties 2,331,173 — — — 2,331,173 Proved properties 9,726,957 — — (177,286) 9,549,671 Water handling and treatment systems — — 744,682 — 744,682 Gathering systems and facilities 17,929 — 1,705,839 — 1,723,768 Other property and equipment 41,231 — — — 41,231 12,117,290 — 2,450,521 (177,286) 14,390,525 Less accumulated depletion, depreciation, and amortization (2,109,136) — (254,642) — (2,363,778) Property and equipment, net 10,008,154 — 2,195,879 (177,286) 12,026,747 Derivative instruments 1,731,063 — — — 1,731,063 Investments in subsidiaries (420,429) — — 420,429 — Contingent acquisition consideration 194,538 — — (194,538) — Investments in unconsolidated affiliates — — 68,299 — 68,299 Other assets, net 21,087 — 5,767 — 26,854 Total assets $ 11,924,382 — 2,349,895 (18,727) 14,255,550 Liabilities and Equity Current liabilities: Accounts payable $ 21,648 — 16,979 — 38,627 Intercompany payable 64,139 — 3,193 (67,332) — Accrued liabilities 332,162 — 61,641 — 393,803 Revenue distributions payable 163,989 — — — 163,989 Derivative instruments 203,635 — — — 203,635 Other current liabilities 17,134 — 200 — 17,334 Total current liabilities 802,707 — 82,013 (67,332) 817,388 Long-term liabilities: Long-term debt 3,854,059 — 849,914 — 4,703,973 Deferred income tax liability 950,217 — — — 950,217 Contingent acquisition consideration — — 194,538 (194,538) — Derivative instruments 234 — — — 234 Other liabilities 54,540 — 620 — 55,160 Total liabilities 5,661,757 — 1,127,085 (261,870) 6,526,972 Equity: Stockholders' equity: Partners' capital — — 1,222,810 (1,222,810) — Common stock 3,149 — — — 3,149 Additional paid-in capital 5,299,481 — — — 5,299,481 Accumulated earnings 959,995 — — — 959,995 Total stockholders' equity 6,262,625 — 1,222,810 (1,222,810) 6,262,625 Noncontrolling interest in consolidated subsidiary — — — 1,465,953 1,465,953 Total equity 6,262,625 — 1,222,810 243,143 7,728,578 Total liabilities and equity $ 11,924,382 — 2,349,895 (18,727) 14,255,550 Condensed Consolidating Balance Sheet June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 22,657 — 17,533 — 40,190 Accounts receivable, net 15,257 — 1,237 — 16,494 Intercompany receivables 2,989 — 79,062 (82,051) — Accrued revenue 218,621 — — — 218,621 Derivative instruments 452,005 — — — 452,005 Other current assets 8,279 — 294 — 8,573 Total current assets 719,808 — 98,126 (82,051) 735,883 Property and equipment: Natural gas properties, at cost (successful efforts method): Unproved properties 2,309,839 — — — 2,309,839 Proved properties 10,767,934 — — (274,002) 10,493,932 Water handling and treatment systems — — 840,183 — 840,183 Gathering systems and facilities 17,929 — 1,866,783 — 1,884,712 Other property and equipment 48,537 — — — 48,537 13,144,239 — 2,706,966 (274,002) 15,577,203 Less accumulated depletion, depreciation, and amortization (2,454,668) — (312,690) — (2,767,358) Property and equipment, net 10,689,571 — 2,394,276 (274,002) 12,809,845 Derivative instruments 1,600,165 — — — 1,600,165 Investments in subsidiaries 603,549 — — (603,549) — Contingent acquisition consideration 201,654 — — (201,654) — Investments in unconsolidated affiliates — — 259,697 — 259,697 Other assets, net 26,793 — 9,838 — 36,631 Total assets $ 13,841,540 — 2,761,937 (1,161,256) 15,442,221 Liabilities and Equity Current liabilities: Accounts payable $ 36,490 — 15,077 — 51,567 Intercompany payable 79,062 — 2,989 (82,051) — Accrued liabilities 341,256 — 77,096 — 418,352 Revenue distributions payable 203,151 — — — 203,151 Derivative instruments 3,279 — — — 3,279 Other current liabilities 16,507 — 204 — 16,711 Total current liabilities 679,745 — 95,366 (82,051) 693,060 Long-term liabilities: Long-term debt 4,346,524 — 945,449 — 5,291,973 Deferred income tax liability 1,100,382 — — — 1,100,382 Contingent acquisition consideration — — 201,654 (201,654) — Derivative instruments 172 — — — 172 Other liabilities 53,257 — 515 — 53,772 Total liabilities 6,180,080 — 1,242,984 (283,705) 7,139,359 Equity: Stockholders' equity: Partners' capital — — 1,518,953 (1,518,953) — Common stock 3,154 — — — 3,154 Additional paid-in capital 6,435,047 — — — 6,435,047 Accumulated earnings 1,223,259 — — — 1,223,259 Total stockholders' equity 7,661,460 — 1,518,953 (1,518,953) 7,661,460 Noncontrolling interests in consolidated subsidiary — — — 641,402 641,402 Total equity 7,661,460 — 1,518,953 (877,551) 8,302,862 Total liabilities and equity $ 13,841,540 — 2,761,937 (1,161,256) 15,442,221 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue: Natural gas sales $ 229,787 — — — 229,787 Natural gas liquids sales 94,713 — — — 94,713 Oil sales 16,740 — — — 16,740 Gathering, compression, water handling and treatment — — 136,809 (133,515) 3,294 Marketing 90,902 — — — 90,902 Commodity derivative fair value losses (684,634) — — — (684,634) Other income 3,899 — — (3,899) — Total revenue (248,593) — 136,809 (137,414) (249,198) Operating expenses: Lease operating 12,257 — 34,317 (34,531) 12,043 Gathering, compression, processing, and transportation 267,738 — 6,997 (68,675) 206,060 Production and ad valorem taxes 16,175 — 1,283 — 17,458 Marketing 125,977 — — — 125,977 Exploration 1,109 — — — 1,109 Impairment of unproved properties 19,944 — — — 19,944 Depletion, depreciation, and amortization 173,222 — 24,140 — 197,362 Accretion of asset retirement obligations 620 — — — 620 General and administrative 47,167 — 13,306 (371) 60,102 Accretion of contingent acquisition consideration — — 3,461 (3,461) — Total operating expenses 664,209 — 83,504 (107,038) 640,675 Operating income (loss) (912,802) — 53,305 (30,376) (889,873) Other income (expenses): Equity in earnings of unconsolidated affiliates — — 484 — 484 Interest (58,910) — (3,878) 193 (62,595) Equity in net income of subsidiaries (1,026) — — 1,026 — Total other expenses (59,936) — (3,394) 1,219 (62,111) Income (loss) before income taxes (972,738) — 49,911 (29,157) (951,984) Provision for income tax benefit 376,494 — — — 376,494 Net income (loss) and comprehensive income (loss) including noncontrolling interests (596,244) — 49,911 (29,157) (575,490) Net income and comprehensive income attributable to noncontrolling interests — — — 20,754 20,754 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (596,244) — 49,911 (49,911) (596,244) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue: Natural gas sales $ 454,257 — — — 454,257 Natural gas liquids sales 170,819 — — — 170,819 Oil sales 26,512 — — — 26,512 Gathering, compression, water handling and treatment — — 193,767 (190,575) 3,192 Marketing 49,968 — — — 49,968 Commodity derivative fair value gains 85,641 — — — 85,641 Other income 3,911 — — (3,911) — Total revenue 791,108 — 193,767 (194,486) 790,389 Operating expenses: Lease operating 17,189 — 41,444 (41,641) 16,992 Gathering, compression, processing, and transportation 353,216 — 9,910 (96,379) 266,747 Production and ad valorem taxes 21,599 — 954 — 22,553 Marketing 77,421 — — — 77,421 Exploration 1,804 — — — 1,804 Impairment of unproved properties 15,199 — — — 15,199 Depletion, depreciation, and amortization 170,670 — 30,512 — 201,182 Accretion of asset retirement obligations 649 — — — 649 General and administrative 49,531 — 14,789 (221) 64,099 Accretion of contingent acquisition consideration — — 3,590 (3,590) — Total operating expenses 707,278 — 101,199 (141,831) 666,646 Operating income 83,830 — 92,568 (52,655) 123,743 Other income (expenses): Equity in earnings of unconsolidated affiliates — — 3,623 — 3,623 Interest (59,735) — (9,015) 168 (68,582) Equity in net income (loss) of subsidiaries (10,408) — — 10,408 — Total other expenses (70,143) — (5,392) 10,576 (64,959) Income before income taxes 13,687 — 87,176 (42,079) 58,784 Provision for income tax expense (18,819) — — — (18,819) Net income (loss) and comprehensive income (loss) including noncontrolling interests (5,132) — 87,176 (42,079) 39,965 Net income and comprehensive income attributable to noncontrolling interests — — — 45,097 45,097 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (5,132) — 87,176 (87,176) (5,132) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue and other: Natural gas sales $ 484,563 — — — 484,563 Natural gas liquids sales 167,778 — — — 167,778 Oil sales 26,919 — — — 26,919 Gathering, compression, water handling and treatment — — 272,882 (265,744) 7,138 Marketing 190,118 — — — 190,118 Commodity derivative fair value losses (404,710) — — — (404,710) Other income 7,724 — — (7,724) — Total revenue and other 472,392 — 272,882 (273,468) 471,806 Operating expenses: Lease operating 23,589 — 75,031 (75,284) 23,336 Gathering, compression, processing, and transportation 535,183 — 14,167 (134,552) 414,798 Production and ad valorem taxes 34,202 — 2,540 — 36,742 Marketing 263,910 — — — 263,910 Exploration 2,123 — — — 2,123 Impairment of unproved properties 35,470 — — — 35,470 Depletion, depreciation, and amortization 340,981 — 47,963 — 388,944 Accretion of asset retirement obligations 1,218 — — — 1,218 General and administrative 90,719 — 26,397 (727) 116,389 Accretion of contingent acquisition consideration — — 6,857 (6,857) — Total operating expenses 1,327,395 — 172,955 (217,420) 1,282,930 Operating income (loss) (855,003) — 99,927 (56,048) (811,124) Other income (expenses): Equity in earnings of unconsolidated affiliates — — 484 — 484 Interest (118,733) — (7,582) 436 (125,879) Equity in net income of subsidiaries 758 — — (758) — Total other expenses (117,975) — (7,098) (322) (125,395) Income (loss) before income taxes (972,978) — 92,829 (56,370) (936,519) Provision for income tax benefit 371,679 — — — 371,679 Net income (loss) and comprehensive income (loss) including noncontrolling interests (601,299) — 92,829 (56,370) (564,840) Net income and comprehensive income attributable to noncontrolling interests — — — 36,459 36,459 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (601,299) — 92,829 (92,829) (601,299) Condensed Consolidating Statement of Operations and Comprehensive Income Six Months Ended June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue and other: Natural gas sales $ 920,921 — — — 920,921 Natural gas liquids sales 365,471 — — — 365,471 Oil sales 53,472 — — — 53,472 Gathering, compression, water handling and treatment — — 368,536 (362,740) 5,796 Marketing 115,892 — — — 115,892 Commodity derivative fair value gains 524,416 — — — 524,416 Other income 8,351 — — (8,351) — Total revenue and other 1,988,523 — 368,536 (371,091) 1,985,968 Operating expenses: Lease operating 32,931 — 80,066 (80,454) 32,543 Gathering, compression, processing, and transportation 700,984 — 18,024 (185,432) 533,576 Production and ad valorem taxes 45,574 — 1,772 — 47,346 Marketing 167,414 — — — 167,414 Exploration 3,911 — — — 3,911 Impairment of unproved properties 42,098 — — — 42,098 Depletion, depreciation, and amortization 345,863 — 58,048 — 403,911 Accretion of asset retirement obligations 1,286 — — — 1,286 General and administrative 100,587 — 29,246 (1,036) 128,797 Accretion of contingent acquisition consideration — — 7,116 (7,116) — Total operating expenses 1,440,648 — 194,272 (274,038) 1,360,882 Operating income 547,875 — 174,264 (97,053) 625,086 Other income (expenses): Equity in earnings of unconsolidated affiliates — — 5,854 — 5,854 Interest (117,738) — (17,851) 337 (135,252) Equity in net income of subsidiaries (16,708) — — 16,708 — Total other expenses (134,446) — (11,997) 17,045 (129,398) Income before income taxes 413,429 — 162,267 (80,008) 495,688 Provision for income tax expense (150,165) — — — (150,165) Net income and comprehensive income including noncontrolling interests 263,264 — 162,267 (80,008) 345,523 Net income and comprehensive income attributable to noncontrolling interests — — — 82,259 82,259 Net income and comprehensive income attributable to Antero Resources Corporation $ 263,264 — 162,267 (162,267) 263,264 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Net cash provided by operating activities $ 465,719 — 168,599 (55,612) 578,706 Cash flows used in investing activities: Additions to unproved properties (58,195) — — — (58,195) Drilling and completion costs (765,586) — — 55,612 (709,974) Additions to water handling and treatment systems — — (78,625) — (78,625) Additions to gathering systems and facilities (331) — (96,969) — (97,300) Additions to other property and equipment (1,296) — — — (1,296) Investments in unconsolidated affiliates — — (45,044) — (45,044) Change in other assets (44,835) — (3,090) — (47,925) Distributions from non-guarantor subsidiary 51,296 — — (51,296) — Net cash used in investing activities (818,947) — (223,728) 4,316 (1,038,359) Cash flows provided by financing activities: Issuance of common stock 752,599 — — — 752,599 Sale of common units in Antero Midstream Partners LP by Antero Resources Corporation 178,000 — — — 178,000 Borrowings (repayments) on bank credit facility, net (567,000) — 140,000 — (427,000) Payments of deferred financing costs (96) — — — (96) Distributions — — (82,977) 51,296 (31,681) Employee tax withholding for settlement of equity compensation awards (4,802) — (17) — (4,819) Other (2,496) — (76) — (2,572) Net cash provided by financing activities 356,205 — 56,930 51,296 464,431 Net increase in cash and cash equivalents 2,977 — 1,801 — 4,778 Cash and cash equivalents, beginning of period 16,590 — 6,883 — 23,473 Cash and cash equivalents, end of period $ 19,567 — 8,684 — 28,251 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Net cash provided by operating activities $ 509,364 — 234,938 (96,716) 647,586 Cash flows used in investing activities: Additions to proved properties (179,318) — — — (179,318) Additions to unproved properties (129,876) — — — (129,876) Drilling and completion costs (726,024) — — 96,716 (629,308) Additions to water handling and treatment systems — — (95,451) — (95,451) Additions to gathering systems and facilities — — (155,365) — (155,365) Additions to other property and equipment (6,564) — — — (6,564) Investments in unconsolidated affiliates — — (191,364) — (191,364) Change in other assets (7,648) — (4,804) — (12,452) Net distributions from subsidiaries 63,145 — — (63,145) — Other 2,156 — — — 2,156 Net cash used in investing activities (984,129) — (446,984) 33,571 (1,397,542) Cash flows provided by financing activities: Issuance of common units by Antero Midstream Partners LP — — 246,585 — 246,585 Borrowings on bank credit facility, net 490,000 — 95,000 — 585,000 Distributions — — (125,014) 63,145 (61,869) Employee tax withholding for settlement of equity compensation awards (7,501) — (932) — (8,433) Other (2,645) — (102) — (2,747) Net cash provided by financing activities 479,854 — 215,537 63,145 758,536 Net decrease in cash and cash equivalents 5,089 — 3,491 — 8,580 Cash and cash equivalents, beginning of period 17,568 — 14,042 — 31,610 Cash and cash equivalents, end of period $ 22,657 — 17,533 — 40,190

Commitments

Commitments	6 Months Ended
	Jun. 30, 2017
Commitments
Commitments	(13) The table below is a schedule of future minimum payments for firm transportation, drilling rig and completion services, processing, gathering and compression, and office and equipment agreements, as well as leases that have remaining lease terms in excess of one year as of June 30, 2017 (in millions). Firm Processing, Drilling rigs and completion Office and equipment (a) (b) (c) (d) Total Remainder of 2017 $ 319 200 52 6 577 2018 893 401 75 13 1,382 2019 1,107 340 40 11 1,498 2020 1,127 337 — 9 1,473 2021 1,106 321 — 8 1,435 2022 1,053 317 — 8 1,378 Thereafter 9,561 1,502 — 17 11,080 Total $ 15,166 3,418 167 72 18,823 (a) Firm Transportation The Company has entered into firm transportation agreements with various pipelines in order to facilitate the delivery of its production to market. These contracts commit the Company to transport minimum daily natural gas or NGLs volumes at negotiated rates, or pay for any deficiencies at specified reservation fee rates. The amounts in this table are based on the Company’s minimum daily volumes at the reservation fee rate. The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest. (b) Processing, Gathering, and Compression Service Commitments The Company has entered into various long‑term gas processing agreements for certain of its production that will allow it to realize the value of its NGLs. The minimum payment obligations under the agreements are presented in the table. The Company has various gathering and compression service agreements with third parties that provide for payments based on volumes gathered or compressed. The minimum payment obligations under these agreements are presented in the table. The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest. The values in the table also include minimum processing fees to be paid to the Joint Venture owned by Antero Midstream and MarkWest, and Antero Midstream’s commitments for the construction of its advanced wastewater treatment complex. The table does not include intracompany commitments. Future capital contributions to unconsolidated affiliates are excluded from the table as neither the amounts nor the timing of the obligations can be determined in advance (c) Drilling Rig Service Commitments The Company has obligations under agreements with service providers to procure drilling rigs and completion services. The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest. (d) Office and Equipment Leases The Company leases various office space and equipment under capital and operating lease arrangements.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2017
Related Parties
Related Parties	(14) Related Parties Certain of the Company’s shareholders, including members of its executive management group, own a significant interest in the Company and, either through their representatives or directly, serve as members of the Board of Directors for Antero and the Boards of Directors for the general partners of Antero Midstream and AMGP. These same groups or individuals own limited partners interests in Antero Midstream and common shares and other interests in AMGP, which indirectly owns the incentive distribution rights in Antero Midstream. Antero’s executive management group also manages the operations and business affairs of Antero Midstream and AMGP. Antero Midstream’s operations comprise substantially all of the operations of the gathering and processing and the water handling and treatment segments. Substantially all of the revenues for those segments are derived from transactions with Antero. Please see Note 11 for the operating results of the Company’s reportable segments.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies
Basis of Presentation	(a) These condensed 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, 2016 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The December 31, 2016 consolidated financial statements have been filed with the SEC in the Company’s 2016 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 December 31, 2016 and June 30, 2017, the results of its operations for the three and six months ended June 30, 2016 and 2017, and its cash flows for the six months ended June 30, 2016 and 2017. 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 June 30, 2017 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, fluctuations in the fair value of derivative instruments, and other factors. The Company’s statement of cash flows for the six months ended June 30, 2016 includes reclassifications within current liabilities that were made to conform to the six months ended June 30, 2017 presentation. 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.
Principles of Consolidation	(b) The accompanying condensed consolidated financial statements include the accounts of Antero, its wholly-owned subsidiaries, any entities in which the Company owns a controlling interest, and variable interest entities (“VIEs”) for which the Company is the primary beneficiary. We have determined that Antero Midstream is a VIE for which Antero is the primary beneficiary. Therefore, Antero Midstream’s accounts are included in the Company’s condensed consolidated financial statements. Antero is the primary beneficiary of Antero Midstream based on its power to direct the activities that most significantly impact Antero Midstream’s economic performance, and its obligation to absorb losses or right to receive benefits of Antero Midstream that could be significant to the Partnership. Antero Midstream was formed to own, operate, and develop midstream energy assets to service Antero’s production under long-term service contracts. Antero owned 58.4% of the outstanding limited partner interests in Antero Midstream at June 30, 2017. Antero Midstream GP LP (“AMGP”) indirectly controls the general partnership interest in Antero Midstream as well as Antero IDR Holdings LLC (“IDR LLC”), which owns the incentive distribution rights in Antero Midstream. AMGP has not provided, and is not expected to provide, financial support to Antero Midstream. Antero’s officers and management group also act as management of Antero Midstream and AMGP. Antero and Antero Midstream have contracts with 20-year initial terms and automatic renewal provisions, whereby Antero has dedicated the rights for gathering and compression, and water delivery and handling, services to Antero Midstream on a fixed-fee basis. Such dedications cover a substantial portion of Antero’s current acreage and future acquired acreage, in each case, except for acreage that was already dedicated to other parties prior to entering into the service contracts or that was acquired subject to a pre-existing dedication. The contracts call for Antero to present, in advance, its drilling and completion plans in order for Antero Midstream to develop gathering and compression, water delivery and handling, and gas processing assets to service Antero’s operations. Consequently, the drilling and completion capital investment decisions made by Antero control the development and operation of all of Antero Midstream’s assets. Because of these contractual obligations and the capital requirements related to these obligations, Antero Midstream has and, for the foreseeable future, will devote substantially all of its resources to servicing Antero’s operations. Additionally, revenues from Antero provide substantially all of Antero Midstream’s financial support and, therefore, its ability to finance its operations. As a result of the long-term contractual commitment to support Antero’s substantial growth plans, Antero Midstream will be practically and physically constrained from providing any substantive amount of services to third-parties. Therefore, Antero controls the activities that most significantly impact Antero Midstream’s economic performance. Antero does not control AMGP and does not have any investment in AMGP. All significant intercompany accounts and transactions have been eliminated in the Company’s condensed consolidated financial statements. Noncontrolling interest in the Company’s condensed consolidated financial statements represents the interests in Antero Midstream which are owned by the public and the holder of Antero Midstream’s incentive distribution rights. Noncontrolling interests in consolidated subsidiaries is included as a component of equity in the Company’s condensed consolidated balance sheets. Investments in entities for which the Company exercises significant influence, but not control, are accounted for under the equity method. Such investments are included in Investments in unconsolidated affiliates on the Company’s condensed consolidated balance sheets. Income from equity method investees is included in Equity in earnings of unconsolidated affiliates on the Company’s condensed consolidated statements of operations and cash flows.
Use of Estimates	(c) The preparation of condensed consolidated financial statements in conformity with GAAP requires that management formulate estimates and assumptions which affect revenues, expenses, assets, and liabilities, and the disclosure of contingent assets and liabilities. 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 and impairment of oil and gas properties. Reserve estimates, by their nature, are inherently imprecise. Other items in the Company’s condensed consolidated financial statements which involve the use of significant estimates include derivative assets and liabilities, accrued revenue, deferred income taxes, equity-based compensation, asset retirement obligations, depreciation, amortization, and commitments and contingencies.
Risks and Uncertainties	(d) Historically, the markets for natural gas, NGLs, and oil have experienced significant price fluctuations. Price fluctuations can result from variations in weather, levels of production, 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 and reserve quantities.
Derivative Financial Instruments	(e) In order to manage its exposure to natural gas, NGLs, and oil price volatility, the Company enters into derivative transactions from time to time, which may include commodity swap agreements, basis swap agreements, collar agreements, and other similar agreements related to the price risk associated with the Company’s 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 that the counterparty is unable to satisfy its settlement obligations. 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 condensed consolidated balance sheets as either assets or liabilities 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, including gains or losses on settled 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.
Industry Segments and Geographic Information	(f) 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 processing; (3) water handling and treatment; 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.
Earnings (loss) per common share	(g) Earnings (loss) per common share —basic for each period is computed by dividing net income (loss) attributable to Antero by the basic weighted average number of shares outstanding during the period. Earnings (loss) per common share—assuming dilution for each period is computed after giving consideration to the potential dilution from outstanding equity awards, calculated using the treasury stock method. The Company includes performance share unit awards in the calculation of diluted weighted average shares outstanding based on the number of common shares that would be issuable if the end of the period was also the end of the performance period required for the vesting of such awards. During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards is antidilutive. The following is a reconciliation of the Company’s basic weighted average shares outstanding to diluted weighted average shares outstanding during the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Basic weighted average number of shares outstanding 281,786 315,401 279,418 315,179 Add: Dilutive effect of non-vested restricted stock units — — — 710 Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of performance stock units — — — 38 Diluted weighted average number of shares outstanding 281,786 315,401 279,418 315,927 Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share(1): Non-vested restricted stock and restricted stock units 6,982 5,105 6,862 1,596 Outstanding stock options 706 679 713 681 Performance stock units 724 1,213 471 896 (1) The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common share—assuming dilution because the inclusion of these awards would have been anti-dilutive. When the Company incurs a net loss, all outstanding equity awards are excluded from the calculation of diluted loss per common share because the inclusion of such awards would be anti-dilutive.
Cash and Cash Equivalents	(h) 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. From time to time, the Company may be in the position of a “book overdraft” in which outstanding checks exceed cash and cash equivalents. The Company classifies book overdrafts within accounts payable within its condensed consolidated balance sheets, and classifies the change in accounts payable associated with book overdrafts as an operating activity within its condensed consolidated statements of cash flows.
Income Taxes	(i) For the three and six months ended June 30, 2016, the Company’s overall effective tax rate was different than the statutory rate of 35% primarily due to the effects of noncontrolling interest income and state tax rates. For the three and six months ended June 30, 2017, the Company’s overall effective tax rate was different than the statutory rate of 35% primarily due to the effects of noncontrolling interest income, state tax rates, and permanent differences on vested equity compensation awards

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies
Reconciliation of basic weighted average shares outstanding to diluted weighted average shares outstanding	The following is a reconciliation of the Company’s basic weighted average shares outstanding to diluted weighted average shares outstanding during the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Basic weighted average number of shares outstanding 281,786 315,401 279,418 315,179 Add: Dilutive effect of non-vested restricted stock units — — — 710 Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of performance stock units — — — 38 Diluted weighted average number of shares outstanding 281,786 315,401 279,418 315,927 Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share(1): Non-vested restricted stock and restricted stock units 6,982 5,105 6,862 1,596 Outstanding stock options 706 679 713 681 Performance stock units 724 1,213 471 896 (1) The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common share—assuming dilution because the inclusion of these awards would have been anti-dilutive. When the Company incurs a net loss, all outstanding equity awards are excluded from the calculation of diluted loss per common share because the inclusion of such awards would be anti-dilutive.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities as of December 31, 2016 and June 30, 2017 consisted of the following items (in thousands): December 31, 2016 June 30, 2017 Capital expenditures $ 159,811 173,981 Gathering, compression, processing, and transportation expenses 75,223 83,474 Marketing expenses 52,822 30,123 Interest expense 35,533 45,628 Other 70,414 85,146 $ 393,803 418,352

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Long-Term Debt.
Schedule of long-term debt	Long-term debt was as follows at December 31, 2016 and June 30, 2017 (in thousands): December 31, 2016 June 30, 2017 Antero: Bank credit facility(a) $ 440,000 930,000 5.375% senior notes due 2021(b) 1,000,000 1,000,000 5.125% senior notes due 2022(c) 1,100,000 1,100,000 5.625% senior notes due 2023(d) 750,000 750,000 5.00% senior notes due 2025(e) 600,000 600,000 Net unamortized premium 1,749 1,655 Net unamortized debt issuance costs (37,690) (35,131) Antero Midstream: Bank credit facility(g) 210,000 305,000 5.375% senior notes due 2024(h) 650,000 650,000 Net unamortized debt issuance costs (10,086) (9,551) $ 4,703,973 5,291,973

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2017
Asset Retirement Obligations
Schedule of reconciliation of asset retirement obligations	The following is a reconciliation of the Company’s asset retirement obligations for the six months ended June 30, 2017 (in thousands): Asset retirement obligations—December 31, 2016 $ 32,736 Obligations incurred for wells drilled and producing properties acquired 2,824 Accretion expense 1,286 Asset retirement obligations—June 30, 2017 $ 36,846

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Equity-Based Compensation
Schedule of equity-based compensation expense	The Company’s equity-based compensation expense, by type of award, was as follows for the three and six months ended June 30, 2016 and 2017 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Restricted stock unit awards $ 18,146 18,681 35,613 36,906 Stock options 641 616 1,301 1,236 Performance share unit awards 2,466 2,748 3,349 4,883 Antero Midstream phantom unit awards 4,013 4,443 8,001 8,486 Equity awards issued to directors 550 487 1,022 967 Total expense $ 25,816 26,975 49,286 52,478
Summary of restricted stock and restricted stock unit awards activity	Weighted Aggregate Number of grant date intrinsic value Total awarded and unvested—December 31, 2016 5,353,447 $ 31.77 $ 126,609 Granted 757,694 $ 22.23 Vested (826,675) $ 44.32 Forfeited (195,400) $ 23.96 Total awarded and unvested—June 30, 2017 5,089,066 $ 28.56 $ 109,975
Summary of stock option activity	Weighted Weighted average Intrinsic Stock exercise contractual value Outstanding at December 31, 2016 687,929 $ 50.46 8.12 $ — Granted — $ — Exercised — $ — Forfeited (10,458) $ 50.00 Expired — $ — Outstanding at June 30, 2017 677,471 $ 50.47 7.61 $ — Vested or expected to vest as of June 30, 2017 677,471 $ 50.47 7.61 $ — Exercisable at June 30, 2017 364,855 $ 50.70 7.52 $ —
Summary of Performance Stock Unit activity	Number of Weighted Total awarded and unvested—December 31, 2016 785,301 $ 29.75 Granted 558,021 $ 26.21 Vested (41,666) $ 27.38 Forfeited (8,623) $ 29.86 Total awarded and unvested—June 30, 2017 1,293,033 $ 28.30
Schedule of weighted average fair value assumptions used for PSUs granted	The following table present information regarding the weighted average fair value for PSUs granted during the six months ended June 30, 2017 and the assumptions used to determine the fair values. Six Months Ended June 30, 2017 Dividend yield — % Volatility 42 % Risk-free interest rate 1.40 % Weighted average fair value of awards granted $ 26.21
Schedule of outstanding unvested restricted stock awards vesting schedule	Number of Weighted Aggregate Total awarded and unvested—December 31, 2016 1,331,961 $ 27.31 $ 41,131 Granted 340,773 $ 32.45 Vested (73,080) $ 21.34 Forfeited (48,760) $ 28.85 Total awarded and unvested—June 30, 2017 1,550,894 $ 28.68 $ 51,459

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of outstanding commodity derivatives	As of June 30, 2017, the Company’s fixed price natural gas, NGLs, and oil swap positions from July 1, 2017 through December 31, 2023 were as follows (abbreviations in the table refer to the index to which the swap position is tied, as follows: NYMEX=Henry Hub; CGTLA=Columbia Gas Louisiana Onshore; CCG=Chicago City Gate; Mont Belvieu-Ethane=Mont Belvieu Purity Ethane; Mont Belvieu-Propane=Mont Belvieu Propane; NYMEX-WTI=West Texas Intermediate): Natural gas Oil Natural Gas Weighted Three months ending September 30, 2017: NYMEX ($/MMBtu) 1,370,000 — — $ 3.33 CGTLA ($/MMBtu) 420,000 — — $ 4.20 CCG ($/MMBtu) 70,000 — — $ 4.45 NYMEX-WTI ($/Bbl) — 3,000 — $ 54.75 Mont Belvieu-Ethane ($/Gallon) — — 20,000 $ 0.25 Mont Belvieu-Propane ($/Gallon) — — 27,500 $ 0.39 Total 1,860,000 3,000 47,500 Three months ending December 31, 2017: NYMEX ($/MMBtu) 1,370,000 — — $ 3.46 CGTLA ($/MMBtu) 420,000 — — $ 4.37 CCG ($/MMBtu) 70,000 — — $ 4.68 NYMEX-WTI ($/Bbl) — 3,000 — $ 54.75 Mont Belvieu-Ethane ($/Gallon) — — 20,000 $ 0.25 Mont Belvieu-Propane ($/Gallon) — — 27,500 $ 0.40 Total 1,860,000 3,000 47,500 Year ending December 31, 2018: NYMEX ($/MMBtu) 2,002,500 — $ 3.91 Mont Belvieu-Propane ($/Gallon) — 2,000 $ 0.65 Total 2,002,500 2,000 Year ending December 31, 2019: NYMEX ($/MMBtu) 2,330,000 $ 3.70 Year ending December 31, 2020: NYMEX ($/MMBtu) 1,417,500 $ 3.63 Year ending December 31, 2021: NYMEX ($/MMBtu) 710,000 $ 3.31 Year ending December 31, 2022: NYMEX ($/MMBtu) 850,000 $ 3.16 Year ending December 31, 2023: NYMEX ($/MMBtu) 90,000 $ 2.91
Summary of the fair values of derivative instruments, which are not designated as hedges for accounting purposes	December 31, 2016 June 30, 2017 Balance sheet Fair value Balance sheet Fair value (In thousands) (In thousands) Asset derivatives not designated as hedges for accounting purposes: Commodity contracts Current assets $ 73,022 Current assets 452,005 Commodity contracts Long-term assets 1,731,063 Long-term assets 1,600,165 Total asset derivatives 1,804,085 2,052,170 Liability derivatives not designated as hedges for accounting purposes: Commodity contracts Current liabilities 203,635 Current liabilities 3,279 Commodity contracts Long-term liabilities 234 Long-term liabilities 172 Total liability derivatives 203,869 3,451 Net derivatives $ 1,600,216 2,048,719
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 values 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, 2016 June 30, 2017 Gross Gross amounts Net amounts Gross Gross amounts Net amounts Commodity derivative assets $ 1,914,245 (110,160) 1,804,085 $ 2,161,257 (109,087) 2,052,170 Commodity derivative liabilities $ (324,667) 120,798 (203,869) $ (3,451) — (3,451)
Summary of derivative fair value gains (losses)	The following is a summary of derivative fair value gains and where such values are recorded in the condensed consolidated statements of operations for the three and six months ended June 30, 2016 and 2017 (in thousands): Statement of Three months ended June 30, Six months ended June 30, location 2016 2017 2016 2017 Commodity derivative fair value gains (losses) Revenue $ (684,634) 85,641 $ (404,710) 524,416
TCOminusNYMEX
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 Differential ($/MMBtu) Six months ending December 31, 2017: 125,000 $ (0.51)
NYMEXminusTCO
Tabular disclosure of pertinent information about 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 Differential ($/MMBtu) Six months ending December 31, 2017: 125,000 $ 0.38

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Information
Schedule of operating results and assets of reportable segments	The operating results and assets of the Company’s reportable segments were as follows for the three months ended June 30, 2016 and 2017 (in thousands): Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Three months ended June 30, 2016: Sales and revenues: Third-party $ (343,394) 3,131 163 90,902 — (249,198) Intersegment 3,899 68,785 64,730 — (137,414) — Total $ (339,495) 71,916 64,893 90,902 (137,414) (249,198) Operating expenses: Lease operating $ 12,257 — 34,317 — (34,531) 12,043 Gathering, compression, processing, and transportation 267,738 6,997 — — (68,675) 206,060 Depletion, depreciation, and amortization 173,015 17,172 7,175 — — 197,362 General and administrative 47,167 10,138 3,168 — (371) 60,102 Other 37,848 450 4,294 125,977 (3,461) 165,108 Total 538,025 34,757 48,954 125,977 (107,038) 640,675 Operating income (loss) $ (877,520) 37,159 15,939 (35,075) (30,376) (889,873) Equity in earnings of unconsolidated affiliates $ — 484 — — — 484 Segment assets $ 11,919,732 1,598,826 569,624 23,045 (552,447) 13,558,780 Capital expenditures for segment assets $ 375,247 48,614 41,589 — (30,183) 435,267 Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Three months ended June 30, 2017: Sales and revenues: Third-party $ 737,229 2,324 868 49,968 — 790,389 Intersegment 3,911 96,438 94,137 — (194,486) — Total $ 741,140 98,762 95,005 49,968 (194,486) 790,389 Operating expenses: Lease operating $ 17,189 — 41,444 — (41,641) 16,992 Gathering, compression, processing, and transportation 353,216 9,910 — — (96,379) 266,747 Depletion, depreciation, and amortization 170,446 22,494 8,242 — — 201,182 General and administrative 49,531 10,705 4,084 — (221) 64,099 Other 39,251 12 4,532 77,421 (3,590) 117,626 Total 629,633 43,121 58,302 77,421 (141,831) 666,646 Operating income (loss) $ 111,507 55,641 36,703 (27,453) (52,655) 123,743 Equity in earnings of unconsolidated affiliates $ — 3,623 — — — 3,623 Segment assets $ 13,430,135 2,065,899 711,735 14,357 (779,905) 15,442,221 Capital expenditures for segment assets $ 584,832 88,806 58,497 — (52,487) 679,648 The operating results and assets of the Company’s reportable segments were as follows for the six months ended June 30, 2016 and 2017 (in thousands): Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Six months ended June 30, 2016: Sales and revenues: Third-party $ 274,550 6,718 420 190,118 — 471,806 Intersegment 7,724 134,825 130,919 — (273,468) — Total $ 282,274 141,543 131,339 190,118 (273,468) 471,806 Operating expenses: Lease operating $ 23,589 — 75,031 — (75,284) 23,336 Gathering, compression, processing, and transportation 535,183 14,167 — — (134,552) 414,798 Depletion, depreciation, and amortization 340,567 34,240 14,137 — — 388,944 General and administrative 90,719 19,473 6,924 — (727) 116,389 Other 73,013 899 8,498 263,910 (6,857) 339,463 Total 1,063,071 68,779 104,590 263,910 (217,420) 1,282,930 Operating income (loss) $ (780,797) 72,764 26,749 (73,792) (56,048) (811,124) Equity in earnings of unconsolidated affiliates $ — 484 — — — 484 Segment assets $ 11,919,732 1,598,826 569,624 23,045 (552,447) 13,558,780 Capital expenditures for segment assets $ 825,077 97,300 78,625 — (55,612) 945,390 Exploration Gathering and Water handling and treatment Marketing Elimination of Consolidated Six months ended June 30, 2017: Sales and revenues: Third-party $ 1,864,280 4,863 933 115,892 — 1,985,968 Intersegment 8,351 185,558 177,182 — (371,091) — Total $ 1,872,631 190,421 178,115 115,892 (371,091) 1,985,968 Operating expenses: Lease operating $ 32,931 — 80,066 — (80,454) 32,543 Gathering, compression, processing, and transportation 700,984 18,024 — — (185,432) 533,576 Depletion, depreciation, and amortization 345,415 42,418 16,078 — — 403,911 General and administrative 100,587 20,843 8,403 — (1,036) 128,797 Other 92,869 12 8,876 167,414 (7,116) 262,055 Total 1,272,786 81,297 113,423 167,414 (274,038) 1,360,882 Operating income (loss) $ 599,845 109,124 64,692 (51,522) (97,053) 625,086 Equity in earnings of unconsolidated affiliates $ — 5,854 — — — 5,854 Segment assets $ 13,430,135 2,065,899 711,735 14,357 (779,905) 15,442,221 Capital expenditures for segment assets $ 1,041,782 155,365 95,451 — (96,716) 1,195,882

Subsidiary Guarantors (Tables)

Subsidiary Guarantors (Tables)	6 Months Ended
	Jun. 30, 2017
Subsidiary Guarantors
Schedule of condensed consolidated balance sheets	Condensed Consolidating Balance Sheet December 31, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 17,568 — 14,042 — 31,610 Accounts receivable, net 28,442 — 1,240 — 29,682 Intercompany receivables 3,193 — 64,139 (67,332) — Accrued revenue 261,960 — — — 261,960 Derivative instruments 73,022 — — — 73,022 Other current assets 5,784 — 529 — 6,313 Total current assets 389,969 — 79,950 (67,332) 402,587 Property and equipment: Natural gas properties, at cost (successful efforts method): Unproved properties 2,331,173 — — — 2,331,173 Proved properties 9,726,957 — — (177,286) 9,549,671 Water handling and treatment systems — — 744,682 — 744,682 Gathering systems and facilities 17,929 — 1,705,839 — 1,723,768 Other property and equipment 41,231 — — — 41,231 12,117,290 — 2,450,521 (177,286) 14,390,525 Less accumulated depletion, depreciation, and amortization (2,109,136) — (254,642) — (2,363,778) Property and equipment, net 10,008,154 — 2,195,879 (177,286) 12,026,747 Derivative instruments 1,731,063 — — — 1,731,063 Investments in subsidiaries (420,429) — — 420,429 — Contingent acquisition consideration 194,538 — — (194,538) — Investments in unconsolidated affiliates — — 68,299 — 68,299 Other assets, net 21,087 — 5,767 — 26,854 Total assets $ 11,924,382 — 2,349,895 (18,727) 14,255,550 Liabilities and Equity Current liabilities: Accounts payable $ 21,648 — 16,979 — 38,627 Intercompany payable 64,139 — 3,193 (67,332) — Accrued liabilities 332,162 — 61,641 — 393,803 Revenue distributions payable 163,989 — — — 163,989 Derivative instruments 203,635 — — — 203,635 Other current liabilities 17,134 — 200 — 17,334 Total current liabilities 802,707 — 82,013 (67,332) 817,388 Long-term liabilities: Long-term debt 3,854,059 — 849,914 — 4,703,973 Deferred income tax liability 950,217 — — — 950,217 Contingent acquisition consideration — — 194,538 (194,538) — Derivative instruments 234 — — — 234 Other liabilities 54,540 — 620 — 55,160 Total liabilities 5,661,757 — 1,127,085 (261,870) 6,526,972 Equity: Stockholders' equity: Partners' capital — — 1,222,810 (1,222,810) — Common stock 3,149 — — — 3,149 Additional paid-in capital 5,299,481 — — — 5,299,481 Accumulated earnings 959,995 — — — 959,995 Total stockholders' equity 6,262,625 — 1,222,810 (1,222,810) 6,262,625 Noncontrolling interest in consolidated subsidiary — — — 1,465,953 1,465,953 Total equity 6,262,625 — 1,222,810 243,143 7,728,578 Total liabilities and equity $ 11,924,382 — 2,349,895 (18,727) 14,255,550 Condensed Consolidating Balance Sheet June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 22,657 — 17,533 — 40,190 Accounts receivable, net 15,257 — 1,237 — 16,494 Intercompany receivables 2,989 — 79,062 (82,051) — Accrued revenue 218,621 — — — 218,621 Derivative instruments 452,005 — — — 452,005 Other current assets 8,279 — 294 — 8,573 Total current assets 719,808 — 98,126 (82,051) 735,883 Property and equipment: Natural gas properties, at cost (successful efforts method): Unproved properties 2,309,839 — — — 2,309,839 Proved properties 10,767,934 — — (274,002) 10,493,932 Water handling and treatment systems — — 840,183 — 840,183 Gathering systems and facilities 17,929 — 1,866,783 — 1,884,712 Other property and equipment 48,537 — — — 48,537 13,144,239 — 2,706,966 (274,002) 15,577,203 Less accumulated depletion, depreciation, and amortization (2,454,668) — (312,690) — (2,767,358) Property and equipment, net 10,689,571 — 2,394,276 (274,002) 12,809,845 Derivative instruments 1,600,165 — — — 1,600,165 Investments in subsidiaries 603,549 — — (603,549) — Contingent acquisition consideration 201,654 — — (201,654) — Investments in unconsolidated affiliates — — 259,697 — 259,697 Other assets, net 26,793 — 9,838 — 36,631 Total assets $ 13,841,540 — 2,761,937 (1,161,256) 15,442,221 Liabilities and Equity Current liabilities: Accounts payable $ 36,490 — 15,077 — 51,567 Intercompany payable 79,062 — 2,989 (82,051) — Accrued liabilities 341,256 — 77,096 — 418,352 Revenue distributions payable 203,151 — — — 203,151 Derivative instruments 3,279 — — — 3,279 Other current liabilities 16,507 — 204 — 16,711 Total current liabilities 679,745 — 95,366 (82,051) 693,060 Long-term liabilities: Long-term debt 4,346,524 — 945,449 — 5,291,973 Deferred income tax liability 1,100,382 — — — 1,100,382 Contingent acquisition consideration — — 201,654 (201,654) — Derivative instruments 172 — — — 172 Other liabilities 53,257 — 515 — 53,772 Total liabilities 6,180,080 — 1,242,984 (283,705) 7,139,359 Equity: Stockholders' equity: Partners' capital — — 1,518,953 (1,518,953) — Common stock 3,154 — — — 3,154 Additional paid-in capital 6,435,047 — — — 6,435,047 Accumulated earnings 1,223,259 — — — 1,223,259 Total stockholders' equity 7,661,460 — 1,518,953 (1,518,953) 7,661,460 Noncontrolling interests in consolidated subsidiary — — — 641,402 641,402 Total equity 7,661,460 — 1,518,953 (877,551) 8,302,862 Total liabilities and equity $ 13,841,540 — 2,761,937 (1,161,256) 15,442,221
Schedule of condensed consolidated statement of operations and comprehensive income (loss)	Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue: Natural gas sales $ 229,787 — — — 229,787 Natural gas liquids sales 94,713 — — — 94,713 Oil sales 16,740 — — — 16,740 Gathering, compression, water handling and treatment — — 136,809 (133,515) 3,294 Marketing 90,902 — — — 90,902 Commodity derivative fair value losses (684,634) — — — (684,634) Other income 3,899 — — (3,899) — Total revenue (248,593) — 136,809 (137,414) (249,198) Operating expenses: Lease operating 12,257 — 34,317 (34,531) 12,043 Gathering, compression, processing, and transportation 267,738 — 6,997 (68,675) 206,060 Production and ad valorem taxes 16,175 — 1,283 — 17,458 Marketing 125,977 — — — 125,977 Exploration 1,109 — — — 1,109 Impairment of unproved properties 19,944 — — — 19,944 Depletion, depreciation, and amortization 173,222 — 24,140 — 197,362 Accretion of asset retirement obligations 620 — — — 620 General and administrative 47,167 — 13,306 (371) 60,102 Accretion of contingent acquisition consideration — — 3,461 (3,461) — Total operating expenses 664,209 — 83,504 (107,038) 640,675 Operating income (loss) (912,802) — 53,305 (30,376) (889,873) Other income (expenses): Equity in earnings of unconsolidated affiliates — — 484 — 484 Interest (58,910) — (3,878) 193 (62,595) Equity in net income of subsidiaries (1,026) — — 1,026 — Total other expenses (59,936) — (3,394) 1,219 (62,111) Income (loss) before income taxes (972,738) — 49,911 (29,157) (951,984) Provision for income tax benefit 376,494 — — — 376,494 Net income (loss) and comprehensive income (loss) including noncontrolling interests (596,244) — 49,911 (29,157) (575,490) Net income and comprehensive income attributable to noncontrolling interests — — — 20,754 20,754 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (596,244) — 49,911 (49,911) (596,244) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue: Natural gas sales $ 454,257 — — — 454,257 Natural gas liquids sales 170,819 — — — 170,819 Oil sales 26,512 — — — 26,512 Gathering, compression, water handling and treatment — — 193,767 (190,575) 3,192 Marketing 49,968 — — — 49,968 Commodity derivative fair value gains 85,641 — — — 85,641 Other income 3,911 — — (3,911) — Total revenue 791,108 — 193,767 (194,486) 790,389 Operating expenses: Lease operating 17,189 — 41,444 (41,641) 16,992 Gathering, compression, processing, and transportation 353,216 — 9,910 (96,379) 266,747 Production and ad valorem taxes 21,599 — 954 — 22,553 Marketing 77,421 — — — 77,421 Exploration 1,804 — — — 1,804 Impairment of unproved properties 15,199 — — — 15,199 Depletion, depreciation, and amortization 170,670 — 30,512 — 201,182 Accretion of asset retirement obligations 649 — — — 649 General and administrative 49,531 — 14,789 (221) 64,099 Accretion of contingent acquisition consideration — — 3,590 (3,590) — Total operating expenses 707,278 — 101,199 (141,831) 666,646 Operating income 83,830 — 92,568 (52,655) 123,743 Other income (expenses): Equity in earnings of unconsolidated affiliates — — 3,623 — 3,623 Interest (59,735) — (9,015) 168 (68,582) Equity in net income (loss) of subsidiaries (10,408) — — 10,408 — Total other expenses (70,143) — (5,392) 10,576 (64,959) Income before income taxes 13,687 — 87,176 (42,079) 58,784 Provision for income tax expense (18,819) — — — (18,819) Net income (loss) and comprehensive income (loss) including noncontrolling interests (5,132) — 87,176 (42,079) 39,965 Net income and comprehensive income attributable to noncontrolling interests — — — 45,097 45,097 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (5,132) — 87,176 (87,176) (5,132) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue and other: Natural gas sales $ 484,563 — — — 484,563 Natural gas liquids sales 167,778 — — — 167,778 Oil sales 26,919 — — — 26,919 Gathering, compression, water handling and treatment — — 272,882 (265,744) 7,138 Marketing 190,118 — — — 190,118 Commodity derivative fair value losses (404,710) — — — (404,710) Other income 7,724 — — (7,724) — Total revenue and other 472,392 — 272,882 (273,468) 471,806 Operating expenses: Lease operating 23,589 — 75,031 (75,284) 23,336 Gathering, compression, processing, and transportation 535,183 — 14,167 (134,552) 414,798 Production and ad valorem taxes 34,202 — 2,540 — 36,742 Marketing 263,910 — — — 263,910 Exploration 2,123 — — — 2,123 Impairment of unproved properties 35,470 — — — 35,470 Depletion, depreciation, and amortization 340,981 — 47,963 — 388,944 Accretion of asset retirement obligations 1,218 — — — 1,218 General and administrative 90,719 — 26,397 (727) 116,389 Accretion of contingent acquisition consideration — — 6,857 (6,857) — Total operating expenses 1,327,395 — 172,955 (217,420) 1,282,930 Operating income (loss) (855,003) — 99,927 (56,048) (811,124) Other income (expenses): Equity in earnings of unconsolidated affiliates — — 484 — 484 Interest (118,733) — (7,582) 436 (125,879) Equity in net income of subsidiaries 758 — — (758) — Total other expenses (117,975) — (7,098) (322) (125,395) Income (loss) before income taxes (972,978) — 92,829 (56,370) (936,519) Provision for income tax benefit 371,679 — — — 371,679 Net income (loss) and comprehensive income (loss) including noncontrolling interests (601,299) — 92,829 (56,370) (564,840) Net income and comprehensive income attributable to noncontrolling interests — — — 36,459 36,459 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (601,299) — 92,829 (92,829) (601,299) Condensed Consolidating Statement of Operations and Comprehensive Income Six Months Ended June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Revenue and other: Natural gas sales $ 920,921 — — — 920,921 Natural gas liquids sales 365,471 — — — 365,471 Oil sales 53,472 — — — 53,472 Gathering, compression, water handling and treatment — — 368,536 (362,740) 5,796 Marketing 115,892 — — — 115,892 Commodity derivative fair value gains 524,416 — — — 524,416 Other income 8,351 — — (8,351) — Total revenue and other 1,988,523 — 368,536 (371,091) 1,985,968 Operating expenses: Lease operating 32,931 — 80,066 (80,454) 32,543 Gathering, compression, processing, and transportation 700,984 — 18,024 (185,432) 533,576 Production and ad valorem taxes 45,574 — 1,772 — 47,346 Marketing 167,414 — — — 167,414 Exploration 3,911 — — — 3,911 Impairment of unproved properties 42,098 — — — 42,098 Depletion, depreciation, and amortization 345,863 — 58,048 — 403,911 Accretion of asset retirement obligations 1,286 — — — 1,286 General and administrative 100,587 — 29,246 (1,036) 128,797 Accretion of contingent acquisition consideration — — 7,116 (7,116) — Total operating expenses 1,440,648 — 194,272 (274,038) 1,360,882 Operating income 547,875 — 174,264 (97,053) 625,086 Other income (expenses): Equity in earnings of unconsolidated affiliates — — 5,854 — 5,854 Interest (117,738) — (17,851) 337 (135,252) Equity in net income of subsidiaries (16,708) — — 16,708 — Total other expenses (134,446) — (11,997) 17,045 (129,398) Income before income taxes 413,429 — 162,267 (80,008) 495,688 Provision for income tax expense (150,165) — — — (150,165) Net income and comprehensive income including noncontrolling interests 263,264 — 162,267 (80,008) 345,523 Net income and comprehensive income attributable to noncontrolling interests — — — 82,259 82,259 Net income and comprehensive income attributable to Antero Resources Corporation $ 263,264 — 162,267 (162,267) 263,264
Schedule of condensed consolidated statement of cash flows	Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Net cash provided by operating activities $ 465,719 — 168,599 (55,612) 578,706 Cash flows used in investing activities: Additions to unproved properties (58,195) — — — (58,195) Drilling and completion costs (765,586) — — 55,612 (709,974) Additions to water handling and treatment systems — — (78,625) — (78,625) Additions to gathering systems and facilities (331) — (96,969) — (97,300) Additions to other property and equipment (1,296) — — — (1,296) Investments in unconsolidated affiliates — — (45,044) — (45,044) Change in other assets (44,835) — (3,090) — (47,925) Distributions from non-guarantor subsidiary 51,296 — — (51,296) — Net cash used in investing activities (818,947) — (223,728) 4,316 (1,038,359) Cash flows provided by financing activities: Issuance of common stock 752,599 — — — 752,599 Sale of common units in Antero Midstream Partners LP by Antero Resources Corporation 178,000 — — — 178,000 Borrowings (repayments) on bank credit facility, net (567,000) — 140,000 — (427,000) Payments of deferred financing costs (96) — — — (96) Distributions — — (82,977) 51,296 (31,681) Employee tax withholding for settlement of equity compensation awards (4,802) — (17) — (4,819) Other (2,496) — (76) — (2,572) Net cash provided by financing activities 356,205 — 56,930 51,296 464,431 Net increase in cash and cash equivalents 2,977 — 1,801 — 4,778 Cash and cash equivalents, beginning of period 16,590 — 6,883 — 23,473 Cash and cash equivalents, end of period $ 19,567 — 8,684 — 28,251 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Net cash provided by operating activities $ 509,364 — 234,938 (96,716) 647,586 Cash flows used in investing activities: Additions to proved properties (179,318) — — — (179,318) Additions to unproved properties (129,876) — — — (129,876) Drilling and completion costs (726,024) — — 96,716 (629,308) Additions to water handling and treatment systems — — (95,451) — (95,451) Additions to gathering systems and facilities — — (155,365) — (155,365) Additions to other property and equipment (6,564) — — — (6,564) Investments in unconsolidated affiliates — — (191,364) — (191,364) Change in other assets (7,648) — (4,804) — (12,452) Net distributions from subsidiaries 63,145 — — (63,145) — Other 2,156 — — — 2,156 Net cash used in investing activities (984,129) — (446,984) 33,571 (1,397,542) Cash flows provided by financing activities: Issuance of common units by Antero Midstream Partners LP — — 246,585 — 246,585 Borrowings on bank credit facility, net 490,000 — 95,000 — 585,000 Distributions — — (125,014) 63,145 (61,869) Employee tax withholding for settlement of equity compensation awards (7,501) — (932) — (8,433) Other (2,645) — (102) — (2,747) Net cash provided by financing activities 479,854 — 215,537 63,145 758,536 Net decrease in cash and cash equivalents 5,089 — 3,491 — 8,580 Cash and cash equivalents, beginning of period 17,568 — 14,042 — 31,610 Cash and cash equivalents, end of period $ 22,657 — 17,533 — 40,190

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Basis of Presentation
Other comprehensive income (loss)	$ 0	$ 0
Antero Midstream Partners LP
Basis of Presentation
Antero Resources ownership in Antero Midstream	58.40%		60.90%
Term of contract with Antero Midstream	20 years

Summary of Significant Accoun32

Summary of Significant Accounting Policies - EPS and New Accounting Principle (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Earnings per share
Basic weighted average number of shares outstanding	315,401	281,786	315,179	279,418
Weighted Average Number of Shares Outstanding, Diluted	315,401	281,786	315,927	279,418
U.S. Statutory federal income tax rate (as a percent)	35.00%		35.00%
Other Assets, Noncurrent	$ 36,631		$ 36,631		$ 26,854
Long-term debt	$ 5,291,973		5,291,973		$ 4,703,973
Changes in accrued liabilities			4,204	$ (3,362)
Employee tax withholding for settlement of equity compensation awards			$ (8,433)	$ (4,819)
Restricted stock and restricted stock unit
Earnings per share
Add: Dilutive effect of non-vested restricted stock units			710
Weighted Average Anti-dilutive Awards	5,105	6,982	1,596	6,862
Stock options
Earnings per share
Weighted Average Anti-dilutive Awards	679	706	681	713
Performance share unit awards
Earnings per share
Add: Dilutive effect of non-vested restricted stock units			38
Weighted Average Anti-dilutive Awards	1,213	724	896	471

Antero Midstream Partners LP (D

Antero Midstream Partners LP (Details) $ in Thousands	Feb. 06, 2017USD ($)shares	Sep. 23, 2015USD ($)bbl	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)shares	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	May 26, 2016
Antero Midstream Partners LP
Investments in unconsolidated affiliates			$ 259,697		$ 259,697		$ 68,299
Equity in earnings of unconsolidated affiliate			3,623	$ 484	5,854	$ 484
Issuance of common stock						752,599
Consideration:
Amount borrowed on bank credit facility					$ 585,000	(427,000)
Equity Transactions
Proceeds From Sale Of Interest In Partnership Unit						$ 178,000
Antero Midstream Partners LP
Antero Midstream Partners LP
Number of additional shares of common stock issued (in shares) | shares	6,900,000
Issuance of common stock	$ 223,000
Antero Resources ownership in Antero Midstream					58.40%		60.90%
Antero Midstream Partners LP | Contingent Consideration Period One
Consideration:
Contingent consideration		$ 125,000
Threshold number of barrels of water to trigger contingent consideration payment | bbl		176,295,000
Antero Midstream Partners LP | Contingent Consideration Period Two
Consideration:
Contingent consideration		$ 125,000
Threshold number of barrels of water to trigger contingent consideration payment | bbl		219,200,000
Antero Midstream Partners LP | At the Market Program
Equity Transactions
Units sold under At the Market program (in units) | shares					700,031
Proceeds from issuance of common units					$ 23,100
Remaining capacity under equity distribution agreement			159,900		159,900
Antero Midstream Partners LP | Maximum | At the Market Program
Equity Transactions
Aggregate dollar amount of common units available for issuance and sale under equity distribution agreement					250,000
Appalachia joint venture
Antero Midstream Partners LP
Ownership percentage	50.00%
Appalachia joint venture | Antero Midstream Partners LP
Antero Midstream Partners LP
Investments in unconsolidated affiliates			192,100		192,100
Equity in earnings of unconsolidated affiliate					800
Percentage of interest held by joint venture in third party fractionator in Ohio	33.33%
Appalachia joint venture | MarkWest | Antero Midstream Partners LP
Antero Midstream Partners LP
Ownership percentage	50.00%
Regional gathering pipeline | Antero Midstream Partners LP
Antero Midstream Partners LP
Ownership percentage								15.00%
Investments in unconsolidated affiliates			$ 67,600		67,600
Equity in earnings of unconsolidated affiliate					$ 5,100

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued capital expenditures	$ 173,981	$ 159,811
Accrued gathering, compression, processing, and transportation expenses	83,474	75,223
Accrued marketing expenses	30,123	52,822
Accrued interest expense	45,628	35,533
Other accrued liabilities	85,146	70,414
Total accrued liabilities	$ 418,352	$ 393,803

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 21, 2016	Sep. 13, 2016	Mar. 17, 2015	Sep. 18, 2014	May 06, 2014	Nov. 05, 2013
Long- term Debt
Long-term debt	$ 5,291,973,000		$ 4,703,973,000
Issue price as percentage of par value				100.00%
Antero Resources Corporation
Long- term Debt
Net unamortized premium	1,655,000		1,749,000
Net unamortized debt issuance costs	(35,131,000)		(37,690,000)
Antero Midstream Partners LP
Long- term Debt
Net unamortized debt issuance costs	(9,551,000)		(10,086,000)
Midstream Credit Facility Member | Antero Midstream Partners LP
Long- term Debt
Bank credit facility long-term debt	305,000,000		$ 210,000,000
Maximum amount of the Credit Facility	$ 1,500,000,000
Weighted average interest rate (as a percent)	2.62%		2.23%
Midstream Credit Facility Member | Minimum | Antero Midstream Partners LP
Long- term Debt
Commitment fees on the unused portion (as a percent)	0.25%
Midstream Credit Facility Member | Maximum | Antero Midstream Partners LP
Long- term Debt
Commitment fees on the unused portion (as a percent)	0.375%
Bank credit facility | Antero Resources Corporation
Long- term Debt
Bank credit facility long-term debt	$ 930,000,000		$ 440,000,000
Current borrowing base	4,750,000,000
Lender commitments	$ 4,000,000,000
Weighted average interest rate (as a percent)	2.99%		2.44%
Outstanding letters of credit	$ 706,000,000		$ 710,000,000
Bank credit facility | Minimum | Antero Resources Corporation
Long- term Debt
Commitment fees on the unused portion (as a percent)	0.375%
Bank credit facility | Maximum | Antero Resources Corporation
Long- term Debt
Commitment fees on the unused portion (as a percent)	0.50%
5.375% senior notes due 2021 | Antero Resources Corporation
Long- term Debt
Long-term notes payable	$ 1,000,000,000		1,000,000,000
Interest rate (as a percent)									5.375%
Senior notes issued									$ 1,000,000,000
Issue price as percentage of par value									100.00%
Redemption price	104.031%
Redemption price at which notes may be required to be repurchased in event of change of control	101.00%
5.375% senior notes due 2021 | On or after November 1, 2019 | Antero Resources Corporation
Long- term Debt
Redemption price	100.00%
Stand-alone revolving note | Antero Resources Corporation
Long- term Debt
Maximum amount of the Credit Facility	$ 25,000,000
Outstanding balance		$ 0
Stand-alone revolving note | Lender's Prime Rate | Antero Resources Corporation
Long- term Debt
Basis spread on variable rate (as a percent)	1.00%
5.125 senior notes due 2022 | Antero Resources Corporation
Long- term Debt
Long-term notes payable	$ 1,100,000,000		1,100,000,000
Interest rate (as a percent)								5.125%
Senior notes issued							$ 500,000,000	$ 600,000,000
Issue price as percentage of par value							100.50%	100.00%
Redemption price at which notes may be required to be repurchased in event of change of control	101.00%
5.125 senior notes due 2022 | On or after June 1, 2017 | Antero Resources Corporation
Long- term Debt
Redemption price	103.844%
5.125 senior notes due 2022 | On or after June 1, 2020 | Antero Resources Corporation
Long- term Debt
Redemption price	100.00%
5.625% senior notes due 2023 | Antero Resources Corporation
Long- term Debt
Long-term notes payable	$ 750,000,000		750,000,000
Interest rate (as a percent)						5.625%
Senior notes issued						$ 750,000,000
Issue price as percentage of par value						100.00%
Redemption price at which notes may be required to be repurchased in event of change of control	101.00%
5.625% senior notes due 2023 | On Or Before June 1, 2018 | Antero Resources Corporation
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)	105.625%
5.625% senior notes due 2023 | On or after June 1, 2018 | Antero Resources Corporation
Long- term Debt
Redemption price	104.219%
5.625% senior notes due 2023 | On Or After June 1, 2021 | Antero Resources Corporation
Long- term Debt
Redemption price	100.00%
5.625% senior notes due 2023 | Prior to June 1, 2018 | Antero Resources Corporation
Long- term Debt
Redemption price	100.00%
5.375% senior notes due 2024 | Antero Midstream Partners LP
Long- term Debt
Long-term notes payable	$ 650,000,000		650,000,000
Interest rate (as a percent)					5.375%
Senior notes issued					$ 650,000,000
Issue price as percentage of par value					100.00%
Redemption price at which notes may be required to be repurchased in event of change of control	101.00%
5.375% senior notes due 2024 | On or after September 15, 2019 | Antero Midstream Partners LP
Long- term Debt
Redemption price	104.031%
5.375% senior notes due 2024 | On or after September 15, 2022 | Antero Midstream Partners LP
Long- term Debt
Redemption price	100.00%
5.375% senior notes due 2024 | On or before September 15, 2019 | Antero Midstream Partners LP
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)	105.375%
5.375% senior notes due 2024 | Prior to September 15, 2019 | Antero Midstream Partners LP
Long- term Debt
Redemption price	100.00%
5.00% senior notes due 2025
Long- term Debt
Long-term notes payable	$ 600,000,000		$ 600,000,000
5.00% senior notes due 2025 | Antero Resources Corporation
Long- term Debt
Long-term notes payable				$ 600,000,000
Interest rate (as a percent)				5.00%
Redemption price at which notes may be required to be repurchased in event of change of control	101.00%
5.00% senior notes due 2025 | Prior to March 1, 2020 | Antero Resources Corporation
Long- term Debt
Redemption price	100.00%
5.00% senior notes due 2025 | On or before March 1, 2020 | Antero Resources Corporation
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)	105.00%
5.00% senior notes due 2025 | On or after March 1, 2020 | Antero Resources Corporation
Long- term Debt
Redemption price	103.75%
5.00% senior notes due 2025 | On or after March1, 2023 | Antero Resources Corporation
Long- term Debt
Redemption price	100.00%

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Asset Retirement Obligations
Asset retirement obligations - beginning of period			$ 32,736
Obligations incurred for wells drilled and producing properties acquired			2,824
Accretion expense	$ 649	$ 620	1,286	$ 1,218
Asset retirement obligations - end of period	$ 36,846		$ 36,846

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock-based compensation expense
Number of stock-based compensation awards authorized	16,906,500		16,906,500
Number of shares available for future grant under the Plan	7,645,937		7,645,937
Equity based compensation expense recognized	$ 26,975	$ 25,816	$ 52,478	$ 49,286
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	7,667,042		7,667,042
Restricted stock awards
Stock-based compensation expense
Equity based compensation expense recognized	$ 18,681	18,146	$ 36,906	35,613
Performance share unit awards
Stock-based compensation expense
Equity based compensation expense recognized	2,748	2,466	4,883	3,349
Stock options
Stock-based compensation expense
Equity based compensation expense recognized	616	641	1,236	1,301
Antero Midstream Partners Phantom Unit Awards
Stock-based compensation expense
Equity based compensation expense recognized	4,443	4,013	8,486	8,001
Equity awards issued to directors
Stock-based compensation expense
Equity based compensation expense recognized	$ 487	$ 550	$ 967	$ 1,022

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock and RSU Awards (Details) - Restricted stock and restricted stock unit $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Number of shares
Total granted and unvested at the beginning of the period (in shares) | shares	5,353,447
Granted (in shares) | shares	757,694
Vested (in shares) | shares	(826,675)
Forfeited (in shares) | shares	(195,400)
Total awarded and unvested at the end of the period (in shares) | shares	5,089,066
Weighted average grant date fair value
Total granted and unvested at the beginning of the period (in dollars per share) | $ / shares	$ 31.77
Granted (in dollars per share) | $ / shares	22.23
Vested (in dollars per share) | $ / shares	44.32
Forfeited (in dollars per share) | $ / shares	23.96
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 28.56
Aggregate intrinsic value
Total awarded and unvested at the beginning of the period | $	$ 126,609
Total awarded and unvested at the end of the period | $	109,975
Additional equity compensation to be recognized over the remaining period | $	$ 105,600
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 10 months 24 days

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Details) - Stock options - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Stock options
Outstanding at the beginning of the period (in shares)	687,929
Options forfeited (in shares)	(10,458)
Outstanding at the end of the period (in shares)	677,471	687,929
Vested or expected to vest (in shares)	677,471
Exercisable (in shares)	364,855
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 50.46
Options forfeited (in dollars per share)	50
Outstanding at the end of the period (in dollars per share)	50.47	$ 50.46
Vested or expected to vest (in dollars per share)	50.47
Exercisable (in dollars per share)	$ 50.70
Weighted average remaining contractual life
Outstanding	7 years 7 months 10 days	8 years 1 month 13 days
Vested or expected to vest	7 years 7 months 10 days
Exercisable	7 years 6 months 7 days
Additional disclosures
Unrecognized stock-based compensation expense	$ 4
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 9 months 18 days
Minimum
Stock-based compensation
Vesting period	1 year
Maximum
Stock-based compensation
Vesting period	4 years
Contractual life	10 years

Equity-Based Compensation - PSU

Equity-Based Compensation - PSU awards (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Performance share unit awards
Number of units
Total granted and unvested at the beginning of the period (in shares) | shares	785,301
Granted (in shares) | shares	558,021
Vested (in shares) | shares	(41,666)
Forfeited (in shares) | shares	(8,623)
Total awarded and unvested at the end of the period (in shares) | shares	1,293,033
Weighted average grant date fair value
Total granted and unvested at the beginning of the period (in dollars per share)	$ 29.75
Granted (in dollars per share)	26.21
Vested (in dollars per share)	27.38
Forfeited (in dollars per share)	29.86
Total awarded and unvested at the end of the period (in dollars per share)	$ 28.30
Additional disclosures
Additional equity compensation to be recognized over the remaining period | $	$ 24.2
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 3 months 18 days
Weighted-average assumptions used to calculate fair value of performance share units granted
Volatility (as a percent)	42.00%
Risk-free interest rate (as a percent)	1.40%
Weighted average fair value of awards granted (in dollars per share)	$ 26.21
Price target performance share unit awards
Number of successive days closing stock price must achieve specific thresholds for PSUs to vest per schedule	10 days
Vesting period	3 years
Price target performance share unit awards | Vesting before first anniversary | Maximum
Number of PSUs that may vest, as a percent	0.00%
Price target performance share unit awards | Vesting before the second anniversary | Maximum
Number of PSUs that may vest, as a percent	33.33%
Price target performance share unit awards | Vesting before the third anniversary
Number of PSUs that may vest, as a percent	66.67%
TSR performance share unit awards
Vesting period	3 years
TSR performance share unit awards | Maximum
Number of PSUs that may be earned as compared to the number of PSUs granted, as a percent	200.00%
TSR performance share unit awards | Minimum
Number of PSUs that may be earned as compared to the number of PSUs granted, as a percent	0.00%

Equity-Based Compensation - Pha

Equity-Based Compensation - Phantom Unit Awards (Details) - Antero Midstream Partners Phantom Unit Awards $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Number of units
Total granted and unvested at the beginning of the period (in shares) | shares	1,331,961
Granted (in shares) | shares	340,773
Vested (in shares) | shares	(73,080)
Forfeited (in shares) | shares	(48,760)
Total awarded and unvested at the end of the period (in shares) | shares	1,550,894
Weighted average grant date fair value
Total granted and unvested at the beginning of the period (in dollars per share) | $ / shares	$ 27.31
Granted (in dollars per share) | $ / shares	32.45
Vested (in dollars per share) | $ / shares	21.34
Forfeited (in dollars per share) | $ / shares	28.85
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 28.68
Aggregate intrinsic value
Outstanding at the beginning of the period | $	$ 41,131
Outstanding at the end of the period | $	51,459
Additional equity compensation to be recognized over the remaining period | $	$ 34,400
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 3 months 18 days

Financial Instruments (Details)

Financial Instruments (Details) - Recurring - Level 2 market data - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Antero Resources Corporation
Financial Instruments
Fair value of senior notes	$ 3,500
Antero Midstream Partners LP
Financial Instruments
Fair value of senior notes	$ 668	$ 657

Derivative Instruments - Commod

Derivative Instruments - Commodity derivatives (Details)	Jun. 30, 2017bbl / dMMBTU / d$ / bbl$ / gal$ / MMBTU
TCOminusNYMEX | Year ending December 31, 2017 | Basis Differential Positions
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	125,000
Weighted average index price | $ / MMBTU	0.51
NYMEXminusTCO | Year ending December 31, 2017 | Basis Differential Positions
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	125,000
Weighted average index price | $ / MMBTU	0.38
Swaps | Natural gas | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,860,000
Swaps | Natural gas | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,860,000
Swaps | Natural gas | Year ending December 31, 2018
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	2,002,500
Swaps | Natural gas | NYMEX | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,370,000
Weighted average index price | $ / MMBTU	3.33
Swaps | Natural gas | NYMEX | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,370,000
Weighted average index price | $ / MMBTU	3.46
Swaps | Natural gas | NYMEX | Year ending December 31, 2018
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	2,002,500
Weighted average index price | $ / MMBTU	3.91
Swaps | Natural gas | NYMEX | Year ending December 31, 2019
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	2,330,000
Weighted average index price | $ / MMBTU	3.70
Swaps | Natural gas | NYMEX | Year ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	1,417,500
Weighted average index price | $ / MMBTU	3.63
Swaps | Natural gas | NYMEX | Year Ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	710,000
Weighted average index price | $ / MMBTU	3.31
Swaps | Natural gas | NYMEX | Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	850,000
Weighted average index price | $ / MMBTU	3.16
Swaps | Natural gas | NYMEX | Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	90,000
Weighted average index price | $ / MMBTU	2.91
Swaps | Natural gas | CGTLA | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	420,000
Weighted average index price | $ / MMBTU	4.20
Swaps | Natural gas | CGTLA | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	420,000
Weighted average index price | $ / MMBTU	4.37
Swaps | Natural gas | CCG | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	70,000
Weighted average index price | $ / MMBTU	4.45
Swaps | Natural gas | CCG | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day)	70,000
Weighted average index price | $ / MMBTU	4.68
Swaps | Natural gas liquids | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	47,500
Swaps | Natural gas liquids | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	47,500
Swaps | Natural gas liquids | Year ending December 31, 2018
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	2,000
Swaps | Ethane | Mont Belvieu-Ethane | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	20,000
Weighted average index price | $ / gal	0.25
Swaps | Ethane | Mont Belvieu-Ethane | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	20,000
Weighted average index price | $ / gal	0.25
Swaps | Propane | Mont Belvieu-Propane | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	27,500
Weighted average index price | $ / gal	0.39
Swaps | Propane | Mont Belvieu-Propane | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	27,500
Weighted average index price | $ / gal	0.40
Swaps | Propane | Mont Belvieu-Propane | Year ending December 31, 2018
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	2,000
Weighted average index price | $ / gal	0.65
Swaps | Oil | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	3,000
Swaps | Oil | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	3,000
Swaps | Oil | WTI-NYMEX member | Three months ending September 30, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	3,000
Weighted average index price | $ / bbl	54.75
Swaps | Oil | WTI-NYMEX member | Three months ending December 31, 2017
Derivative Instruments
Notional amount (MMBtu/Bbls per day) | bbl / d	3,000
Weighted average index price | $ / bbl	54.75

Derivative Instruments - Fair v

Derivative Instruments - Fair value (Details) $ in Thousands	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)item
Fair value of derivative instruments
Current portion of fair value of derivative assets	$ 452,005	$ 73,022
Noncurrent portion of fair value of derivative assets	1,600,165	1,731,063
Total asset derivatives	2,052,170	1,804,085
Current portion of fair value of derivative liabilities	3,279	203,635
Noncurrent portion of fair value of derivative liabilities	172	234
Total liability derivatives	3,451	203,869
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	452,005	73,022
Noncurrent portion of fair value of derivative assets	1,600,165	1,731,063
Total asset derivatives	2,052,170	1,804,085
Current portion of fair value of derivative liabilities	3,279	203,635
Noncurrent portion of fair value of derivative liabilities	172	234
Total liability derivatives	3,451	203,869
Net derivatives	$ 2,048,719	$ 1,600,216
Derivatives designated as hedges for accounting purposes
Fair value of derivative instruments
Number of derivative instruments held designated as hedges | item	0	0

Derivative Instruments - Assets

Derivative Instruments - Assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Commodity derivative assets
Gross amounts on balance sheet	$ 2,161,257	$ 1,914,245
Gross amounts offset on balance sheet	(109,087)	(110,160)
Total asset derivatives	2,052,170	1,804,085
Commodity derivative liabilities
Gross amounts on balance sheet	(3,451)	(324,667)
Gross amounts offset on balance sheet		120,798
Total liability derivatives	$ (3,451)	$ (203,869)

Derivative Instruments - Fair46

Derivative Instruments - Fair value gains (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains (losses)	$ 85,641	$ (684,634)	$ 524,416	$ (404,710)
Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains (losses)	$ 85,641	$ (684,634)	$ 524,416	$ (404,710)

Contingencies (Details)

Contingencies (Details) - Pending Litigation $ in Millions	Jul. 21, 2017	Jun. 30, 2017USD ($)contractlawsuit	Mar. 31, 2017USD ($)contract
SJGC
Contingencies
Number of lawsuits | lawsuit		2
Number of long term gas contracts | contract		2
Time period from the entry of final judgment to fila an appeal	30 days
WGL
Contingencies
Number of long term gas contracts | contract			2
WGL | Minimum
Contingencies
Damages sought			$ 30
Potential Positive Outcome of Litigation | SJGC
Contingencies
Additional accounts receivable		$ 60
Potential Positive Outcome of Litigation | WGL
Contingencies
Additional accounts receivable		$ 17

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Sales and revenues:
Sales and revenues	$ 790,389	$ (249,198)	$ 1,985,968	$ 471,806
Operating expenses:
Lease operating	16,992	12,043	32,543	23,336
Gathering, compression, processing, and transportation	266,747	206,060	533,576	414,798
Depletion, depreciation, and amortization	201,182	197,362	403,911	388,944
General and administrative expense	64,099	60,102	128,797	116,389
Other operating expenses			262,055	339,463
Total operating expenses	666,646	640,675	1,360,882	1,282,930
Operating income (loss)	123,743	(889,873)	625,086	(811,124)
Equity in earnings of unconsolidated affiliate	3,623	484	5,854	484
Segment assets	15,442,221	13,558,780	15,442,221	13,558,780	$ 14,255,550
Capital expenditures for segment assets			1,195,882	945,390
Exploration and production
Sales and revenues:
Sales and revenues	737,229	(343,394)	1,864,280	274,550
Gathering and compression
Sales and revenues:
Sales and revenues	2,324	3,131	4,863	6,718
Fresh Water Distribution
Sales and revenues:
Sales and revenues	868	163	933	420
Marketing
Sales and revenues:
Sales and revenues	49,968	90,902	115,892	190,118
Operating segments
Sales and revenues:
Sales and revenues	790,389	(249,198)
Operating expenses:
Lease operating	16,992	12,043
Gathering, compression, processing, and transportation	266,747	206,060
Depletion, depreciation, and amortization	201,182	197,362
General and administrative expense	64,099	60,102
Other operating expenses	117,626	165,108
Total operating expenses	666,646	640,675
Operating income (loss)	123,743	(889,873)
Equity in earnings of unconsolidated affiliate	3,623	484	5,854	484
Segment assets	15,442,221	13,558,780	15,442,221	13,558,780
Capital expenditures for segment assets	679,648	435,267
Operating segments | Exploration and production
Sales and revenues:
Sales and revenues	741,140	(339,495)	1,872,631	282,274
Operating expenses:
Lease operating	17,189	12,257	32,931	23,589
Gathering, compression, processing, and transportation	353,216	267,738	700,984	535,183
Depletion, depreciation, and amortization	170,446	173,015	345,415	340,567
General and administrative expense	49,531	47,167	100,587	90,719
Other operating expenses	39,251	37,848	92,869	73,013
Total operating expenses	629,633	538,025	1,272,786	1,063,071
Operating income (loss)	111,507	(877,520)	599,845	(780,797)
Segment assets	13,430,135	11,919,732	13,430,135	11,919,732
Capital expenditures for segment assets	584,832	375,247	1,041,782	825,077
Operating segments | Gathering and compression
Sales and revenues:
Sales and revenues	98,762	71,916	190,421	141,543
Operating expenses:
Gathering, compression, processing, and transportation	9,910	6,997	18,024	14,167
Depletion, depreciation, and amortization	22,494	17,172	42,418	34,240
General and administrative expense	10,705	10,138	20,843	19,473
Other operating expenses	12	450	12	899
Total operating expenses	43,121	34,757	81,297	68,779
Operating income (loss)	55,641	37,159	109,124	72,764
Equity in earnings of unconsolidated affiliate	3,623	484	5,854	484
Segment assets	2,065,899	1,598,826	2,065,899	1,598,826
Capital expenditures for segment assets	88,806	48,614	155,365	97,300
Operating segments | Fresh Water Distribution
Sales and revenues:
Sales and revenues	95,005	64,893	178,115	131,339
Operating expenses:
Lease operating	41,444	34,317	80,066	75,031
Depletion, depreciation, and amortization	8,242	7,175	16,078	14,137
General and administrative expense	4,084	3,168	8,403	6,924
Other operating expenses	4,532	4,294	8,876	8,498
Total operating expenses	58,302	48,954	113,423	104,590
Operating income (loss)	36,703	15,939	64,692	26,749
Segment assets	711,735	569,624	711,735	569,624
Capital expenditures for segment assets	58,497	41,589	95,451	78,625
Operating segments | Marketing
Sales and revenues:
Sales and revenues	49,968	90,902		190,118
Operating expenses:
Other operating expenses	77,421	125,977	167,414	263,910
Total operating expenses	77,421	125,977	167,414	263,910
Operating income (loss)	(27,453)	(35,075)	(51,522)	(73,792)
Segment assets	14,357	23,045	14,357	23,045
Elimination of intersegment transaction
Sales and revenues:
Sales and revenues	(194,486)	(137,414)	(371,091)	(273,468)
Operating expenses:
Lease operating	(41,641)	(34,531)	(80,454)	(75,284)
Gathering, compression, processing, and transportation	(96,379)	(68,675)	(185,432)	(134,552)
General and administrative expense	(221)	(371)	(1,036)	(727)
Other operating expenses	(3,590)	(3,461)	(7,116)	(6,857)
Total operating expenses	(141,831)	(107,038)	(274,038)	(217,420)
Operating income (loss)	(52,655)	(30,376)	(97,053)	(56,048)
Segment assets	(779,905)	(552,447)	(779,905)	(552,447)
Capital expenditures for segment assets	(52,487)	(30,183)	(96,716)	(55,612)
Elimination of intersegment transaction | Exploration and production
Sales and revenues:
Sales and revenues	3,911	3,899	8,351	7,724
Elimination of intersegment transaction | Gathering and compression
Sales and revenues:
Sales and revenues	96,438	68,785	185,558	134,825
Elimination of intersegment transaction | Fresh Water Distribution
Sales and revenues:
Sales and revenues	$ 94,137	$ 64,730	177,182	$ 130,919
Elimination of intersegment transaction | Marketing
Sales and revenues:
Sales and revenues			$ 115,892

Subsidiary Guarantors - Balance

Subsidiary Guarantors - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 40,190	$ 31,610	$ 28,251	$ 23,473
Accounts receivable, net	16,494	29,682
Accrued revenue	218,621	261,960
Derivative instruments	452,005	73,022
Other current assets	8,573	6,313
Total current assets	735,883	402,587
Unproved properties	2,309,839	2,331,173
Proved properties	10,493,932	9,549,671
Water handling and treatment systems	840,183	744,682
Gathering systems and facilities	1,884,712	1,723,768
Other property and equipment	48,537	41,231
Property and equipment, gross	15,577,203	14,390,525
Less accumulated depletion, depreciation, and amortization	(2,767,358)	(2,363,778)
Property and equipment, net	12,809,845	12,026,747
Derivative instruments	1,600,165	1,731,063
Investments in unconsolidated affiliates	259,697	68,299
Other assets, net	36,631	26,854
Total assets	15,442,221	14,255,550	13,558,780
Liabilities and Stockholders' Equity
Accounts payable	51,567	38,627
Accrued liabilities	418,352	393,803
Revenue distributions payable	203,151	163,989
Derivative Liability, Current	3,279	203,635
Other current liabilities	16,711	17,334
Total current liabilities	693,060	817,388
Long-term debt	5,291,973	4,703,973
Deferred income tax liability	1,100,382	950,217
Derivative instruments	172	234
Other liabilities	53,772	55,160
Total liabilities	7,139,359	6,526,972
Common stock	3,154	3,149
Additional paid-in capital	6,435,047	5,299,481
Accumulated earnings	1,223,259	959,995
Total stockholders' equity	7,661,460	6,262,625
Noncontrolling interest in consolidated subsidiary	641,402	1,465,953
Total equity	8,302,862	7,728,578
Total liabilities and equity	15,442,221	14,255,550
Eliminations
Current assets:
Intercompany receivables	(82,051)	(67,332)
Total current assets	(82,051)	(67,332)
Proved properties	(274,002)	(177,286)
Property and equipment, gross	(274,002)	(177,286)
Property and equipment, net	(274,002)	(177,286)
Investment in subsidiaries	(603,549)	420,429
Contingent acquisition consideration asset	(201,654)	(194,538)
Total assets	(1,161,256)	(18,727)
Liabilities and Stockholders' Equity
Intercompany payable	(82,051)	(67,332)
Total current liabilities	(82,051)	(67,332)
Contingent acquisition consideration liability	(201,654)	(194,538)
Total liabilities	(283,705)	(261,870)
Partners' capital	(1,518,953)	(1,222,810)
Total stockholders' equity	(1,518,953)	(1,222,810)
Noncontrolling interest in consolidated subsidiary	641,402	1,465,953
Total equity	(877,551)	243,143
Total liabilities and equity	(1,161,256)	(18,727)
Antero Resources Corporation | Reportable legal entity
Current assets:
Cash and cash equivalents	22,657	17,568	19,567	16,590
Accounts receivable, net	15,257	28,442
Intercompany receivables	2,989	3,193
Accrued revenue	218,621	261,960
Derivative instruments	452,005	73,022
Other current assets	8,279	5,784
Total current assets	719,808	389,969
Unproved properties	2,309,839	2,331,173
Proved properties	10,767,934	9,726,957
Gathering systems and facilities	17,929	17,929
Other property and equipment	48,537	41,231
Property and equipment, gross	13,144,239	12,117,290
Less accumulated depletion, depreciation, and amortization	(2,454,668)	(2,109,136)
Property and equipment, net	10,689,571	10,008,154
Derivative instruments	1,600,165	1,731,063
Investment in subsidiaries	603,549	(420,429)
Contingent acquisition consideration asset	201,654	194,538
Other assets, net	26,793	21,087
Total assets	13,841,540	11,924,382
Liabilities and Stockholders' Equity
Accounts payable	36,490	21,648
Intercompany payable	79,062	64,139
Accrued liabilities	341,256	332,162
Revenue distributions payable	203,151	163,989
Derivative Liability, Current	3,279	203,635
Other current liabilities	16,507	17,134
Total current liabilities	679,745	802,707
Long-term debt	4,346,524	3,854,059
Deferred income tax liability	1,100,382	950,217
Derivative instruments	172	234
Other liabilities	53,257	54,540
Total liabilities	6,180,080	5,661,757
Common stock	3,154	3,149
Additional paid-in capital	6,435,047	5,299,481
Accumulated earnings	1,223,259	959,995
Total stockholders' equity	7,661,460	6,262,625
Total equity	7,661,460	6,262,625
Total liabilities and equity	13,841,540	11,924,382
Non-Guarantor Subsidiaries | Reportable legal entity
Current assets:
Cash and cash equivalents	17,533	14,042	$ 8,684	$ 6,883
Accounts receivable, net	1,237	1,240
Intercompany receivables	79,062	64,139
Other current assets	294	529
Total current assets	98,126	79,950
Water handling and treatment systems	840,183	744,682
Gathering systems and facilities	1,866,783	1,705,839
Property and equipment, gross	2,706,966	2,450,521
Less accumulated depletion, depreciation, and amortization	(312,690)	(254,642)
Property and equipment, net	2,394,276	2,195,879
Investments in unconsolidated affiliates	259,697	68,299
Other assets, net	9,838	5,767
Total assets	2,761,937	2,349,895
Liabilities and Stockholders' Equity
Accounts payable	15,077	16,979
Intercompany payable	2,989	3,193
Accrued liabilities	77,096	61,641
Other current liabilities	204	200
Total current liabilities	95,366	82,013
Long-term debt	945,449	849,914
Contingent acquisition consideration liability	201,654	194,538
Other liabilities	515	620
Total liabilities	1,242,984	1,127,085
Partners' capital	1,518,953	1,222,810
Total stockholders' equity	1,518,953	1,222,810
Total equity	1,518,953	1,222,810
Total liabilities and equity	$ 2,761,937	$ 2,349,895

Subsidiary Guarantors - Stateme

Subsidiary Guarantors - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Natural gas sales	$ 454,257	$ 229,787	$ 920,921	$ 484,563
Natural gas liquids sales	170,819	94,713	365,471	167,778
Oil sales	26,512	16,740	53,472	26,919
Gathering, processing, and water handling and treatment	3,192	3,294	5,796	7,138
Marketing Revenue	49,968	90,902	115,892	190,118
Commodity derivative fair value gains (losses)	85,641	(684,634)	524,416	(404,710)
Total revenue	790,389	(249,198)	1,985,968	471,806
Operating expenses:
Lease operating	16,992	12,043	32,543	23,336
Gathering, compression, processing, and transportation	266,747	206,060	533,576	414,798
Production and ad valorem taxes	22,553	17,458	47,346	36,742
Marketing	77,421	125,977	167,414	263,910
Exploration	1,804	1,109	3,911	2,123
Impairment of unproved properties	15,199	19,944	42,098	35,470
Depletion, depreciation, and amortization	201,182	197,362	403,911	388,944
Accretion of asset retirement obligations	649	620	1,286	1,218
General and administrative	64,099	60,102	128,797	116,389
Total operating expenses	666,646	640,675	1,360,882	1,282,930
Operating income (loss)	123,743	(889,873)	625,086	(811,124)
Income Loss From Equity Method Investments	3,623	484	5,854	484
Interest	(68,582)	(62,595)	(135,252)	(125,879)
Total other expenses	(64,959)	(62,111)	(129,398)	(125,395)
Income (loss) before income taxes	58,784	(951,984)	495,688	(936,519)
Provision for income tax (expense) benefit	(18,819)	376,494	(150,165)	371,679
Net income (loss) and comprehensive income (loss) including noncontrolling interest	39,965	(575,490)	345,523	(564,840)
Net income and comprehensive income attributable to noncontrolling interest	45,097	20,754	82,259	36,459
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	(5,132)	(596,244)	263,264	(601,299)
Reportable legal entity | Antero Resources Corporation
Revenue:
Natural gas sales	454,257	229,787	920,921	484,563
Natural gas liquids sales	170,819	94,713	365,471	167,778
Oil sales	26,512	16,740	53,472	26,919
Marketing Revenue	49,968	90,902	115,892	190,118
Commodity derivative fair value gains (losses)	85,641	(684,634)	524,416	(404,710)
Other income	3,911	3,899	8,351	7,724
Total revenue	791,108	(248,593)	1,988,523	472,392
Operating expenses:
Lease operating	17,189	12,257	32,931	23,589
Gathering, compression, processing, and transportation	353,216	267,738	700,984	535,183
Production and ad valorem taxes	21,599	16,175	45,574	34,202
Marketing	77,421	125,977	167,414	263,910
Exploration	1,804	1,109	3,911	2,123
Impairment of unproved properties	15,199	19,944	42,098	35,470
Depletion, depreciation, and amortization	170,670	173,222	345,863	340,981
Accretion of asset retirement obligations	649	620	1,286	1,218
General and administrative	49,531	47,167	100,587	90,719
Total operating expenses	707,278	664,209	1,440,648	1,327,395
Operating income (loss)	83,830	(912,802)	547,875	(855,003)
Interest	(59,735)	(58,910)	(117,738)	(118,733)
Equity in net income of subsidiaries	(10,408)	(1,026)	(16,708)	758
Total other expenses	(70,143)	(59,936)	(134,446)	(117,975)
Income (loss) before income taxes	13,687	(972,738)	413,429	(972,978)
Provision for income tax (expense) benefit	(18,819)	376,494	(150,165)	371,679
Net income (loss) and comprehensive income (loss) including noncontrolling interest	(5,132)	(596,244)	263,264	(601,299)
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	(5,132)	(596,244)	263,264	(601,299)
Reportable legal entity | Non-Guarantor Subsidiaries
Revenue:
Gathering, processing, and water handling and treatment	193,767	136,809	368,536	272,882
Total revenue	193,767	136,809	368,536	272,882
Operating expenses:
Lease operating	41,444	34,317	80,066	75,031
Gathering, compression, processing, and transportation	9,910	6,997	18,024	14,167
Production and ad valorem taxes	954	1,283	1,772	2,540
Depletion, depreciation, and amortization	30,512	24,140	58,048	47,963
General and administrative	14,789	13,306	29,246	26,397
Accretion of contingent acquisition consideration	3,590	3,461	7,116	6,857
Total operating expenses	101,199	83,504	194,272	172,955
Operating income (loss)	92,568	53,305	174,264	99,927
Income Loss From Equity Method Investments	3,623	484	5,854	484
Interest	(9,015)	(3,878)	(17,851)	(7,582)
Total other expenses	(5,392)	(3,394)	(11,997)	(7,098)
Income (loss) before income taxes	87,176	49,911	162,267	92,829
Net income (loss) and comprehensive income (loss) including noncontrolling interest	87,176	49,911	162,267	92,829
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	87,176	49,911	162,267	92,829
Eliminations
Revenue:
Gathering, processing, and water handling and treatment	(190,575)	(133,515)	(362,740)	(265,744)
Other income	(3,911)	(3,899)	(8,351)	(7,724)
Total revenue	(194,486)	(137,414)	(371,091)	(273,468)
Operating expenses:
Lease operating	(41,641)	(34,531)	(80,454)	(75,284)
Gathering, compression, processing, and transportation	(96,379)	(68,675)	(185,432)	(134,552)
General and administrative	(221)	(371)	(1,036)	(727)
Accretion of contingent acquisition consideration	(3,590)	(3,461)	(7,116)	(6,857)
Total operating expenses	(141,831)	(107,038)	(274,038)	(217,420)
Operating income (loss)	(52,655)	(30,376)	(97,053)	(56,048)
Interest	168	193	337	436
Equity in net income of subsidiaries	10,408	1,026	16,708	(758)
Total other expenses	10,576	1,219	17,045	(322)
Income (loss) before income taxes	(42,079)	(29,157)	(80,008)	(56,370)
Net income (loss) and comprehensive income (loss) including noncontrolling interest	(42,079)	(29,157)	(80,008)	(56,370)
Net income and comprehensive income attributable to noncontrolling interest	45,097	20,754	82,259	36,459
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (87,176)	$ (49,911)	$ (162,267)	$ (92,829)

Subsidiary Guarantors - Cash Fl

Subsidiary Guarantors - Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed consolidated statement of cash flows
Net cash provided by operating activities	$ 647,586	$ 578,706
Cash flows used in investing activities:
Additions to proved properties	(179,318)
Additions to unproved properties	(129,876)	(58,195)
Drilling and completion costs	(629,308)	(709,974)
Additions to water handling and treatment systems	(95,451)	(78,625)
Additions to gathering systems and facilities	(155,365)	(97,300)
Additions to other property and equipment	(6,564)	(1,296)
Investments in unconsolidated affiliates	(191,364)	(45,044)
Change in other assets	(12,452)	(47,925)
Proceeds from asset sales	2,156
Net cash used in investing activities	(1,397,542)	(1,038,359)
Cash flows from financing activities:
Issuance of common stock		752,599
Proceeds From Minority Shareholders	246,585
Proceeds From Sale Of Interest In Partnership Unit		178,000
Borrowings (repayments) on bank credit facility, net	585,000	(427,000)
Payments of deferred financing costs		(96)
Distributions to noncontrolling interest in consolidated subsidiary	(61,869)	(31,681)
Employee tax withholding for settlement of equity compensation awards	(8,433)	(4,819)
Other	(2,747)	(2,572)
Net cash provided by financing activities	758,536	464,431
Net increase (decrease) in cash and cash equivalents	8,580	4,778
Cash and cash equivalents, beginning of period	31,610	23,473
Cash and cash equivalents, end of period	40,190	28,251
Reportable legal entity | Antero Resources Corporation
Condensed consolidated statement of cash flows
Net cash provided by operating activities	509,364	465,719
Cash flows used in investing activities:
Additions to proved properties	(179,318)
Additions to unproved properties	(129,876)	(58,195)
Drilling and completion costs	(726,024)	(765,586)
Additions to gathering systems and facilities		(331)
Additions to other property and equipment	(6,564)	(1,296)
Change in other assets	(7,648)	(44,835)
Distributions from non-guarantor subsidiary	63,145	51,296
Proceeds from asset sales	2,156
Net cash used in investing activities	(984,129)	(818,947)
Cash flows from financing activities:
Issuance of common stock		752,599
Proceeds From Sale Of Interest In Partnership Unit		178,000
Borrowings (repayments) on bank credit facility, net	490,000	(567,000)
Payments of deferred financing costs		(96)
Employee tax withholding for settlement of equity compensation awards	(7,501)	(4,802)
Other	(2,645)	(2,496)
Net cash provided by financing activities	479,854	356,205
Net increase (decrease) in cash and cash equivalents	5,089	2,977
Cash and cash equivalents, beginning of period	17,568	16,590
Cash and cash equivalents, end of period	22,657	19,567
Reportable legal entity | Non-Guarantor Subsidiaries
Condensed consolidated statement of cash flows
Net cash provided by operating activities	234,938	168,599
Cash flows used in investing activities:
Additions to water handling and treatment systems	(95,451)	(78,625)
Additions to gathering systems and facilities	(155,365)	(96,969)
Investments in unconsolidated affiliates	(191,364)	(45,044)
Change in other assets	(4,804)	(3,090)
Net cash used in investing activities	(446,984)	(223,728)
Cash flows from financing activities:
Proceeds From Minority Shareholders	246,585
Borrowings (repayments) on bank credit facility, net	95,000	140,000
Distributions to noncontrolling interest in consolidated subsidiary	(125,014)	(82,977)
Employee tax withholding for settlement of equity compensation awards	(932)	(17)
Other	(102)	(76)
Net cash provided by financing activities	215,537	56,930
Net increase (decrease) in cash and cash equivalents	3,491	1,801
Cash and cash equivalents, beginning of period	14,042	6,883
Cash and cash equivalents, end of period	17,533	8,684
Eliminations
Condensed consolidated statement of cash flows
Net cash provided by operating activities	(96,716)	(55,612)
Cash flows used in investing activities:
Drilling and completion costs	96,716	55,612
Distributions from non-guarantor subsidiary	(63,145)	(51,296)
Net cash used in investing activities	33,571	4,316
Cash flows from financing activities:
Distributions to noncontrolling interest in consolidated subsidiary	63,145	51,296
Net cash provided by financing activities	$ 63,145	$ 51,296

Commitments (Detail)

Commitments (Detail) $ in Millions	Jun. 30, 2017USD ($)
Future minimum payments
Remainder of 2017	$ 577
2,018	1,382
2,019	1,498
2,020	1,473
2,021	1,435
2,022	1,378
Thereafter	11,080
Total	18,823
Firm transportation
Future minimum payments
Remainder of 2017	319
2,018	893
2,019	1,107
2,020	1,127
2,021	1,106
2,022	1,053
Thereafter	9,561
Total	15,166
Gas processing, gathering and compression
Future minimum payments
Remainder of 2017	200
2,018	401
2,019	340
2,020	337
2,021	321
2,022	317
Thereafter	1,502
Total	3,418
Drilling rigs and completion services
Future minimum payments
Remainder of 2017	52
2,018	75
2,019	40
Total	167
Office and equipment
Future minimum payments
Remainder of 2017	6
2,018	13
2,019	11
2,020	9
2,021	8
2,022	8
Thereafter	17
Total	$ 72