Antero Resources (AR) 10-Q 29 Apr 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 24, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Entity File Number	001-36120
Entity Registrant Name	ANTERO RESOURCES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0162034
Entity Address, Address Line One	1615 Wynkoop Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	357-7310
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	AR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		268,390,401
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001433270
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Accounts receivable	$ 91,944	$ 46,419
Accounts receivable, related parties		125,000
Accrued revenue	201,320	317,886
Derivative instruments	816,444	422,849
Other current assets	10,313	10,731
Total current assets	1,120,021	922,885
Oil and gas properties, at cost (successful efforts method):
Unproved properties	1,289,770	1,368,854
Proved properties	12,154,162	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,312	71,895
Property and equipment, gross	13,522,046	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,527,306)	(3,327,629)
Property and equipment, net	9,994,740	9,978,739
Operating leases right-of-use assets	2,814,539	2,886,500
Derivative instruments	284,461	333,174
Investments in unconsolidated affiliates	291,989	1,055,177
Other assets	20,039	21,094
Total assets	14,525,789	15,197,569
Current liabilities:
Accounts payable	37,909	14,498
Accounts payable, related parties	88,894	97,883
Accrued liabilities	367,444	400,850
Revenue distributions payable	174,654	207,988
Derivative instruments		6,721
Short-term lease liabilities	295,658	305,320
Other current liabilities	7,315	6,879
Total current liabilities	971,874	1,040,139
Long-term liabilities:
Long-term debt	3,707,787	3,758,868
Deferred income tax liability	672,002	781,987
Derivative instruments	215	3,519
Long-term lease liabilities	2,520,939	2,583,678
Other liabilities	60,432	58,635
Total liabilities	7,933,249	8,226,826
Commitments and contingencies (Notes 13 and 14)
Equity:
Preferred stock, $0.01 par value; authorized - 50,000 shares; none issued
Common stock, $0.01 par value; authorized - 1,000,000 shares; 295,941 shares and 268,926 shares issued and outstanding at December 31, 2019 and March 31, 2020, respectively	2,689	2,959
Additional paid-in capital	6,091,242	6,130,365
Accumulated earnings	498,609	837,419
Total equity	6,592,540	6,970,743
Total liabilities and equity	$ 14,525,789	$ 15,197,569

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Condensed Consolidated Balance Sheets
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
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	268,926,000	295,941,000
Common stock, shares outstanding	268,926,000	295,941,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue and other:
Revenue	$ 750,474	$ 1,114,668
Commodity derivative fair value gains (losses)	565,833	(77,368)
Total revenue and other	1,317,105	1,037,407
Operating expenses:
Production and ad valorem taxes	25,699	35,678
Impairment of oil and gas properties	89,220	81,244
Impairment of midstream assets		6,982
Depletion, depreciation, and amortization	199,677	240,201
Accretion of asset retirement obligations	1,104	976
General and administrative (including equity-based compensation expense of $8,903 and $3,329 in 2019 and 2020, respectively)	31,221	68,202
Contract termination and rig stacking	0	8,360
Total operating expenses	1,054,672	1,071,114
Operating income (loss)	262,433	(33,707)
Other income (expenses):
Equity in earnings (loss) of unconsolidated affiliates	(128,055)	14,081
Impairment of equity investments	(610,632)
Gain on deconsolidation of Antero Midstream Partners LP		1,406,042
Interest expense, net	(53,102)	(71,950)
Gain on early extinguishment of debt	80,561
Total other income (expenses)	(711,228)	1,348,173
Income (loss) before income taxes	(448,795)	1,314,466
Provision for income tax (expense) benefit	109,985	(288,710)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(338,810)	1,025,756
Net income and comprehensive income attributable to noncontrolling interests		46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (338,810)	$ 978,763
Income (loss) per share-basic (in dollars per share)	$ (1.19)	$ 3.17
Income (loss) per share-diluted (in dollars per share)	$ (1.19)	$ 3.17
Weighted average number of shares outstanding:
Basic (in shares)	284,227	308,694
Diluted (in shares)	284,227	308,788
Natural gas sales
Revenue and other:
Revenue	$ 411,082	$ 657,266
Natural gas liquids sales
Revenue and other:
Revenue	257,673	313,685
Oil sales
Revenue and other:
Revenue	35,646	48,052
Commodity derivative fair value gains (losses)	35,646
Gathering, compression, water handling and treatment
Revenue and other:
Revenue		4,479
Commodity derivative fair value gains (losses)	565,833
Operating expenses:
Cost of goods and services sold	588,624	424,529
Marketing
Revenue and other:
Revenue	46,073	91,186
Operating expenses:
Cost of goods and services sold	93,273	163,084
Other income
Revenue and other:
Revenue	798	107
Lease operating
Operating expenses:
Cost of goods and services sold	25,644	41,732
Exploration
Operating expenses:
Cost of goods and services sold	$ 210	$ 126

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Equity-based compensation expense	$ 3,329	$ 8,903

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Common Stock	Additional paid-in capital	Accumulated earnings	Noncontrolling Interests	Total
Balances at Dec. 31, 2018	$ 3,086	$ 6,485,174	$ 1,177,548	$ 821,669	$ 8,487,477
Balances (in shares) at Dec. 31, 2018	308,594
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 1	(451)			(450)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	147
Issuance of common units in Antero Midstream Partners LP upon vesting of equity-based compensation awards, net of units withheld for income taxes		(85)		56	(29)
Equity-based compensation		7,801		1,102	8,903
Net income (loss) and comprehensive income (loss)			978,763	46,993	1,025,756
Distributions to non-controlling interests				(85,076)	(85,076)
Effect of deconsolidation of Antero Midstream Partners LP		(359,039)		$ (784,744)	(1,143,783)
Balance at Mar. 31, 2019	$ 3,087	6,133,400	2,156,311		8,292,798
Balance (in shares) at Mar. 31, 2019	308,741
Balances at Dec. 31, 2019	$ 2,959	6,130,365	837,419		6,970,743
Balances (in shares) at Dec. 31, 2019	295,941,000
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 2	(34)			(32)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	178,000
Repurchases and retirements of common stock	$ (272)	(42,418)			(42,690)
Repurchases and retirements of common stock (in shares)	(27,193,000)
Equity-based compensation		3,329			3,329
Net income (loss) and comprehensive income (loss)			(338,810)		(338,810)
Balance at Mar. 31, 2020	$ 2,689	$ 6,091,242	$ 498,609		$ 6,592,540
Balance (in shares) at Mar. 31, 2020	268,926,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests	$ (338,810)	$ 1,025,756
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion	200,781	241,177
Impairment of oil and gas properties	89,220	81,244
Impairment of midstream assets		6,982
Commodity derivative fair value (gains) losses	(565,833)	77,368
Gains on settled commodity derivatives	210,926	97,092
Equity-based compensation expense	3,329	8,903
Deferred income tax expense (benefit)	(109,985)	287,854
Loss (gain) on early extinguishment of debt	(80,561)
Equity in earnings (loss) of unconsolidated affiliates	128,055	(14,081)
Impairment of equity investments	(610,632)
Gain on deconsolidation of Antero Midstream Partners LP		(1,406,042)
Distributions/dividends of earnings from unconsolidated affiliates	42,756	12,605
Other	2,440	11,081
Changes in current assets and liabilities:
Accounts receivable	(54,514)	42,168
Accrued revenue	116,566	109,677
Other current assets	(583)	1,364
Accounts payable including related parties	(1,251)	(21,370)
Accrued liabilities	(19,593)	(14,965)
Revenue distributions payable	(33,333)	(9,761)
Other current liabilities	435	1,952
Net cash provided by operating activities	200,677	539,004
Cash flows provided by (used in) investing activities:
Additions to unproved properties	(10,357)	(27,463)
Drilling and completion costs	(300,483)	(368,687)
Additions to water handling and treatment systems		(24,416)
Additions to gathering systems and facilities		(48,239)
Additions to other property and equipment	(771)	(3,128)
Settlement of water earnout	125,000
Investments in unconsolidated affiliates		(25,020)
Proceeds from the Antero Midstream Partners LP Transactions		296,611
Change in other assets	(70)	(4,475)
Net cash used in investing activities	(186,681)	(204,817)
Cash flows provided by (used in) financing activities:
Repurchases of common stock	(42,690)
Issuance of senior notes		650,000
Repayment of senior notes	(300,835)
Borrowings (repayments) on bank credit facilities, net	330,000	(270,000)
Payments of deferred financing costs		(8,259)
Distributions to noncontrolling interests in Antero Midstream Partners LP		(85,076)
Employee tax withholding for settlement of equity compensation awards	(32)	(479)
Other	(439)	(841)
Net cash provided by financing activities	(13,996)	285,345
Effect of deconsolidation of Antero Midstream Partners LP		(619,532)
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	30,089	37,081
Increase (decrease) in accounts payable and accrued liabilities for additions to property and equipment	$ 10,767	$ (22,825)

Organization

Organization	3 Months Ended
	Mar. 31, 2020
Organization
Organization	(1) Organization ​ Antero Resources Corporation (individually referred to as “Antero”) and its consolidated subsidiaries (collectively referred to as “Antero Resources,” the “Company,” “we,” “us” or “our”) are engaged in the exploration, development, and acquisition of natural gas, NGLs, and oil properties in the Appalachian Basin in West Virginia and Ohio. The Company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies provide the means to economically develop and produce natural gas, NGLs, and oil from unconventional formations. The Company’s corporate headquarters are located in Denver, Colorado.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies (a) Basis of Presentation These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial information and should be read in the context of the Company’s December 31, 2019 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The Company’s December 31, 2019 consolidated financial statements were included in Antero Resources’ 2019 Annual Report on Form 10-K, which was filed with the SEC. These 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, these 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, 2019 and March 31, 2020, and the results of its operations and its cash flows for the three months ended March 31, 2019 and 2020. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is equal to its comprehensive income or loss. Operating results for the period ended March 31, 2020 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, the impacts of COVID-19 and other factors. (b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Antero Resources Corporation, 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. Through March 12, 2019, Antero Midstream Partners LP (“Antero Midstream Partners”), a publicly traded limited partnership, was included in the consolidated financial statements of Antero. Prior to the Closing (defined in Note 3 to the unaudited condensed consolidated financial statements), our ownership of Antero Midstream Partners common units represented approximately a 53 % limited partner interest in Antero Midstream Partners, and we consolidated Antero Midstream Partners’ financial position and results of operations into our consolidated financial statements. The Transactions (defined in Note 3 to the unaudited condensed consolidated financial statements) resulted in the exchange of the limited partner interest we owned in Antero Midstream Partners for common stock of Antero Midstream Corporation, par value $0.01 per share (the “Antero Midstream Corporation common stock”), representing an approximate 31 % interest in Antero Midstream Corporation. As a result, our controlling interest in Antero Midstream Partners was converted to an interest in Antero Midstream Corporation that provides significant influence, but not control, over Antero Midstream Corporation. Thus, effective March 13, 2019, Antero no longer consolidates Antero Midstream Partners in its consolidated financial statements and accounts for its interest in Antero Midstream Corporation using the equity method of accounting. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements. The noncontrolling interest in the Company’s unaudited condensed consolidated financial statements for the three months ended March 31, 2019 represents the interests in Antero Midstream Partners that were owned by the public prior to the Transactions, and the incentive distribution rights in Antero Midstream Partners. Investments in entities for which the Company exercises significant influence, but not control, are accounted for under the equity method. The Company’s judgment regarding the level of influence over its equity investments includes considering key factors such as Antero’s ownership interest, representation on the board of directors and participation in the policy-making decisions of equity method investees. Such investments are included in Investment in unconsolidated affiliate on the Company’s unaudited condensed consolidated balance sheets. Income (loss) from investees that are accounted for under the equity method is included in Equity in earnings (loss) of unconsolidated affiliates on the Company’s unaudited condensed consolidated statements of operations and cash flows. When Antero records its proportionate share of net income or net loss, it is recorded in equity in earnings (loss) of unconsolidated affiliates in the statements of operations and the carrying value of that investment on the Company’s balance sheet. When a distribution is received, it is recorded as a reduction to the carrying value of that investment on the Company’s balance sheet. The Company’s equity in earnings of unconsolidated affiliates is adjusted for intercompany transactions and the basis differences recognized due to the difference between the cost of the equity investment in Antero The Company accounts for distributions received from equity method investees under the “nature of the distribution” approach. Under this approach, distributions received from equity method investees are classified on the basis of the nature of the activity or activities of the investee that generated the distribution as either a return on investment, which is classified as cash inflows from operating activities, or a return of investment, which is classified as cash inflows from investing activities. (c) Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect revenues, expenses, assets, 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 unaudited 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 unaudited condensed consolidated financial statements that involve the use of significant estimates include derivative assets and liabilities, accrued revenue, deferred and current income taxes, equity-based compensation, asset retirement obligations, depreciation, amortization, and commitments and contingencies. (d) Risks and Uncertainties The markets for natural gas, NGLs, and oil have, and continue to, experience significant price fluctuations. Price fluctuations can result from variations in weather, levels of production, availability of storage capacity and transportation to other regions of the country, the level of imports to and exports from the United States, 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) Cash and Cash Equivalents The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments. 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 in accounts payable and revenue distributions payable within its unaudited condensed consolidated balance sheets, and classifies the change in accounts payable and revenue distributions payable associated with book overdrafts as an operating activity within its unaudited condensed consolidated statements of cash flows. As of December 31, 2019, the book overdraft included within accounts payable and revenue distributions payable were $7 million and $18 million, respectively. As of March 31, 2020, the book overdraft included within accounts payable and revenue distributions payable were $5 million and $21 million, respectively. (f) Oil and Gas Properties The Company accounts for its natural gas, NGLs, and oil exploration and development activities under the successful efforts method of accounting. Under the successful efforts method, the costs incurred to acquire, drill, and complete productive wells, development wells, and undeveloped leases are capitalized. Oil and gas lease acquisition costs are also capitalized. Exploration costs, including personnel and other internal costs, geological and geophysical expenses, delay rentals for gas and oil leases, and costs associated with unsuccessful lease acquisitions are charged to expense as incurred. Exploratory drilling costs are initially capitalized, but charged to expense if the Company determines that the well does not contain reserves in commercially viable quantities. The Company reviews exploration costs related to wells-in- progress at the end of each quarter and makes a determination, based on known results of drilling at that time, whether the costs should continue to be capitalized pending further well testing and results, or charged to expense. The Company incurred no such charges to expense during the three months ended March 31, 2019 and 2020. The sale of a partial interest in a proved property is accounted for as a cost recovery, and no gain or loss is recognized as long as this treatment does not significantly affect the units-of- production amortization rate. A gain or loss is recognized for all other sales of producing properties. Unproved properties are assessed for impairment on a property-by- property basis, and any impairment in value is charged to expense. Impairment is assessed based on remaining lease terms, commodity price outlooks, and future plans to develop acreage, as well as drilling results, and reservoir performance of wells in the area. Unproved properties and the related costs are transferred to proved properties when reserves are discovered on, or otherwise attributed to, the property. Proceeds from sales of partial interests in unproved properties are accounted for as a recovery of cost without recognition of any gain or loss until the cost has been recovered. Impairment of oil and gas properties was $81 million and $89 million for the three months ended March 31, 2019 and 2020, respectively. The Company evaluates the carrying amount of its proved natural gas, NGLs, and oil properties for impairment on a geological reservoir basis whenever events or changes in circumstances indicate that a property’s carrying amount may not be recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company would estimate the fair value of its properties and record an impairment charge for any excess of the carrying amount of the properties over the estimated fair value of the properties. Factors used to estimate fair value may include estimates of proved reserves, estimated future commodity prices, future production estimates, and anticipated capital expenditures, using a commensurate discount rate. (g) Derivative Financial Instruments In order to manage its exposure to natural gas, NGLs, and oil price volatility, the Company enters into derivative transactions from time to time, 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 positions. The Company records derivative instruments on the unaudited 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 unaudited condensed consolidated statements of operations. The Company’s derivatives have not been designated as hedges for accounting purposes. (h) Asset Retirement Obligations The Company is obligated to dispose of certain long- lived assets upon their abandonment. The Company’s asset retirement obligations (“AROs”) relate primarily to its obligation to plug and abandon oil and gas wells at the end of their lives. AROs are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations, which is then discounted at the Company’s credit-adjusted, risk- free interest rate. Revisions to estimated AROs often result from changes in retirement cost estimates or changes in the estimated timing of abandonment. The fair value of the liability is added to the carrying amount of the associated asset, and this additional carrying amount is depreciated over the life of the asset. The liability is accreted at the end of each period through charges to operating expense. (i) Natural Gas, NGLs, and Oil Revenues Our revenues are primarily derived from the sale of natural gas and oil production, as well as the sale of NGLs that are extracted from our natural gas. Sales of natural gas, NGLs, and oil are recognized when we satisfy a performance obligation by transferring control of a product to a customer. Payment is generally received in the month following the sale. Under our natural gas sales contracts, we deliver natural gas to the purchaser at an agreed upon delivery point. Natural gas is transported from our wellheads to delivery points specified under sales contracts. To deliver natural gas to these points, Antero Midstream or other third parties gather, compress, process and transport our natural gas. We maintain control of the natural gas during gathering, compression, processing, and transportation. Our sales contracts provide that we receive a specific index price adjusted for pricing differentials. We transfer control of the product at the delivery point and recognize revenue based on the contract price. The costs incurred to gather, compress, process and transport natural gas are recorded as Gathering, compression, processing and transportation expense. NGLs, which are extracted from natural gas through processing, are either sold by us directly or by the processor under processing contracts. For NGLs sold by us directly, our sales contracts provide that we deliver the product to the purchaser at an agreed upon delivery point and that we receive a specific index price adjusted for pricing differentials. We transfer control of the product to the purchaser at the delivery point and recognize revenue based on the contract price. The costs incurred to process and transport NGLs are recorded as Gathering, compression, processing, and transportation expense. For NGLs sold by the processor, our processing contracts provide that we transfer control to the processor at the tailgate of the processing plant and we recognize revenue based on the price received from the processor. Under our oil sales contracts, we generally sell oil to purchasers and collect a contractually agreed upon index price, net of pricing differentials. We recognize revenue based on the contract price when we transfer control of the product to a purchaser. When applicable, the costs incurred to transport oil to a purchaser are recorded as Gathering, compression, processing and transportation expense. (j) Marketing Revenues and Expenses Marketing revenues are derived from activities to purchase and sell third-party natural gas and NGLs and to market excess firm transportation capacity to third parties. We retain control of the purchased natural gas and NGLs prior to delivery to the purchaser. We have concluded that we are the principal in these arrangements and therefore we recognize revenue on a gross basis, with costs to purchase and transport natural gas and NGLs presented as marketing expenses. Contracts to sell third party gas and NGLs are generally subject to similar terms as contracts to sell our produced natural gas and NGLs. We satisfy performance obligations to the purchaser by transferring control of the product at the delivery point and recognize revenue based on the contract price received from the purchaser. Fees generated from the sale of excess firm transportation marketed to third parties are included in Marketing revenue. Marketing expenses include the cost of purchased third-party natural gas and NGLs. The Company classifies firm transportation costs related to capacity contracted for in advance of having sufficient production and infrastructure to fully utilize the capacity (excess capacity) as marketing expenses since it is marketing this excess capacity to third parties. Firm transportation for which the Company has sufficient production capacity (even though it may not use the transportation capacity because of alternative delivery points with more favorable pricing) is considered unutilized capacity and is charged to transportation expense. (k) Gathering, compression water handling and treatment revenue Substantially all revenues from the gathering, compression, water handling and treatment operations were derived from transactions for services Antero Midstream Partners provided to our exploration and production operations through March 12, 2019 and were eliminated in consolidation. Effective March 13, 2019, Antero Midstream Partners is no longer consolidated in Antero’s results. See Note 3 to the financial statements for further discussion on the Transactions and Note 17 to the consolidated financial statements for disclosures on the Company’s reportable segments. The portion of such fees shown in our consolidated financial statements prior to March 13, 2019 represent amounts charged to interest owners in Antero-operated wells, as well as fees charged to other third parties for water handling and treatment services provided by Antero Midstream Partners or usage of Antero Midstream Partners’ gathering and compression systems. For gathering and compression revenue, Antero Midstream Partners satisfied its performance obligations and recognized revenue when low pressure volumes were delivered to a compressor station, high pressure volumes were delivered to a processing plant or transmission pipeline, and compression volumes were delivered to a high pressure line. Revenue was recognized based on the per Mcf gathering or compression fee charged by Antero Midstream Partners in accordance with the gathering and compression agreement. For water handling and treatment revenue, Antero Midstream Partners satisfied its performance obligations and recognized revenue when the fresh water volumes were delivered to the hydration unit of a specified well pad and the wastewater volumes were delivered to its wastewater treatment facility. For services contracted through third-party providers, Antero Midstream Partners’ performance obligation was satisfied when the services performed by the third-party providers were completed. Revenue was recognized based on the per barrel fresh water delivery or wastewater treatment fee charged by Antero Midstream Partners in accordance with the water services agreement. (l) Industry Segments and Geographic Information Management has evaluated how the Company is organized and managed and has identified the following segments: (1) the exploration, development, and production of natural gas, NGLs, and oil; (2) marketing and utilization of excess firm transportation capacity; and (3) our equity method investment in Antero Midstream Corporation. Through March 12, 2019, the results of Antero Midstream Partners were included in the consolidated financial statements of Antero. Effective March 13, 2019, the results of Antero Midstream Partners are no longer consolidated in Antero’s results; however, the Company’s segment disclosures include our equity method investment in Antero Midstream Corporation due to its significance to the Company’s operations. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions and Note 17 to the unaudited condensed consolidated financial statements for disclosures on the Company’s reportable segments. 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; however, some of the Company’s production revenues are attributable to customers who then transport the Company’s production to foreign countries for resale or consumption. (m) Earnings (loss) Per Common Share 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 the 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 anti-dilutive. 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 March 31, ​ ​ 2019 2020 ​ Basic weighted average number of shares outstanding ​ 308,694 ​ 284,227 ​ Add: Dilutive effect of restricted stock units ​ 80 ​ — ​ Add: Dilutive effect of outstanding stock options ​ — ​ — ​ Add: Dilutive effect of performance stock units ​ 14 ​ — ​ Diluted weighted average number of shares outstanding ​ 308,788 ​ 284,227 ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1) ​ ​ ​ ​ ​ Restricted stock units ​ 1,445 ​ 5,952 ​ Outstanding stock options ​ 570 ​ 459 ​ Performance stock units ​ 1,721 ​ 1,621 ​ (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. (n) Treasury Share Retirement The Company retires treasury shares acquired through share repurchases and returns those shares to the status of authorized but unissued. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired first, to additional paid-in capital, and then to accumulated earnings. The portion allocable to additional paid-in capital is determined by applying a percentage, determined by dividing the number of shares to be retired by the number of shares outstanding, to the balance of additional paid-in capital as of retirement. ​

Deconsolidation of Antero Midst

Deconsolidation of Antero Midstream Partners LP	3 Months Ended
	Mar. 31, 2020
Deconsolidation of Antero Midstream Partners LP
Deconsolidation of Antero Midstream Partners LP	(3) Deconsolidation of Antero Midstream Partners LP On March 12, 2019, Antero Midstream GP LP and Antero Midstream Partners completed (the “Closing”) the transactions contemplated by the Simplification Agreement (the “Simplification Agreement”), dated as of October 9, 2018, by and among Antero Midstream GP LP, Antero Midstream Partners and certain of their affiliates, pursuant to which (i) Antero Midstream GP LP was converted from a limited partnership to a corporation under the laws of the State of Delaware and changed its name to Antero Midstream Corporation, and (ii) an indirect, wholly owned subsidiary of Antero Midstream Corporation was merged with and into Antero Midstream Partners, with Antero Midstream Partners surviving the merger as an indirect, wholly owned subsidiary of Antero Midstream Corporation (together, along with the other transactions contemplated by the Simplification Agreement, the “Transactions”). In connection with the Closing, Antero received The Company recorded a gain on deconsolidation of $1.4 billion calculated as the sum of (i) the cash proceeds received, (ii) the fair value of the Antero Midstream Corporation common stock received at the Closing, and (iii) the elimination of the noncontrolling interest less the carrying amount of the investment in Antero Midstream Partners. The fair value of Antero’s retained equity method investment on March 13, 2019 in Antero Midstream Corporation was billion based on the market price of the shares received on March 12, 2019. See Note 5 to the unaudited condensed consolidated financial statements for further discussion on equity method investments. Antero Midstream Partners’ results of operations are no longer consolidated in the Company’s unaudited consolidated statement of operations and comprehensive income (loss) beginning March 13, 2019. Because Antero Partners’ results of operations continue to be included in the Company’s consolidated unaudited statement of operations and comprehensive income (loss) through March 12, 2019. ​

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue
Revenue	(4) Revenue (a) Disaggregation of Revenue Revenue is disaggregated by type in the following table. The table also identifies which reportable segment that the disaggregated revenues relate. For more information on reportable segments, see Note 17— Segment Information. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ Segment to which ​ (in thousands) 2019 2020 revenues relate Revenues from contracts with customers: ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 657,266 ​ ​ 411,082 ​ Exploration and production ​ Natural gas liquids sales (ethane) ​ ​ 35,516 ​ ​ 26,796 ​ Exploration and production ​ Natural gas liquids sales (C3+ NGLs) ​ ​ 278,169 ​ ​ 230,877 ​ Exploration and production ​ Oil sales ​ ​ 48,052 ​ ​ 35,646 ​ Exploration and production ​ Gathering and compression (1) ​ ​ 3,972 ​ — ​ Equity method investment in AMC ​ Water handling and treatment (1) ​ ​ 507 ​ ​ — ​ Equity method investment in AMC ​ Marketing ​ ​ 91,186 ​ ​ 46,073 ​ Marketing ​ Total revenue from contracts with customers ​ ​ 1,114,668 ​ 750,474 ​ ​ ​ Income (loss) from derivatives and other sources: ​ ​ (77,261) ​ ​ 566,631 ​ ​ ​ Total revenue and other ​ $ 1,037,407 ​ ​ 1,317,105 ​ ​ ​ (1) Gathering and compression and water handling and treatment revenues were included through March 12, 2019. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions. ​ (b) Transaction Price Allocated to Remaining Performance Obligations For our product sales that have a contract term greater than one year, we have utilized the practical expedient, which does not require the disclosure of the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under our product sales contracts, each unit of product delivered to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. For our product sales that have a contract term of one year or less, we have utilized the practical expedient, which does not require the disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. (c) Contract Balances Under our sales contracts, we invoice customers after our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our contracts do not give rise to contract assets or liabilities. At December 31, 2019 and March 31, 2020, our receivables from contracts with customers were $318 million and $201 million, respectively.

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2020
Equity Method Investments.
Equity Method Investments	(5) Equity Method Investments At March 31, 2020, the Company owned approximately 29 % of Antero Midstream Corporation’s common stock, which is reflected in Antero’s consolidated financial statements using the equity method of accounting. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions. The following table is a reconciliation of investments in unconsolidated affiliates for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ Antero Midstream ​ ​ Corporation ​ Balance at December 31, 2019 ​ $ 1,055,177 ​ Equity in loss of unconsolidated affiliates ​ ​ (128,055) ​ Distributions/dividends from unconsolidated affiliates ​ ​ (42,756) ​ Impairment (1) ​ ​ (610,632) ​ Elimination of intercompany profit ​ ​ 18,255 ​ Balance at March 31, 2020 ​ $ 291,989 ​ (1) Other-than-temporary impairment in Antero Midstream Corporation recorded as of March 31, 2020 to reduce the carrying value to fair value. Summarized Financial Information of Antero Midstream Corporation The following tables present summarized financial information of Antero Midstream Corporation. Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ (in thousands) 2019 2020 ​ Current assets ​ $ 108,558 ​ ​ 151,372 ​ Noncurrent assets ​ ​ 6,174,320 ​ ​ 5,629,987 ​ Total assets ​ $ 6,282,878 ​ ​ 5,781,359 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ $ 242,084 ​ ​ 83,560 ​ Noncurrent liabilities ​ ​ 2,897,380 ​ ​ 3,108,844 ​ Stockholders' equity ​ ​ 3,143,414 ​ ​ 2,588,955 ​ Total liabilities and equity ​ $ 6,282,878 ​ ​ 5,781,359 ​ ​ Statement of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the period ​ ​ ​ ​ ​ March 13, 2019 ​ Three months ​ ​ ​ through ​ ended ​ (in thousands) March 31, 2019 March 31, 2020 ​ Revenues ​ $ 54,108 ​ ​ 243,708 ​ Operating expenses ​ ​ 30,029 ​ ​ 762,872 ​ Income (loss) from operations ​ $ 24,079 ​ ​ (519,164) ​ Net income (loss) attributable to the equity method investment ​ $ 23,197 ​ ​ (392,933) ​ ​

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2020
Accrued Liabilities
Accrued Liabilities	(6) Accrued Liabilities Accrued liabilities as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ ​ 2019 2020 ​ Capital expenditures ​ $ 105,706 ​ 85,363 ​ Gathering, compression, processing, and transportation expenses ​ ​ 134,153 ​ ​ 154,039 ​ Marketing expenses ​ ​ 52,612 ​ ​ 28,014 ​ Interest expense, net ​ 30,834 ​ 51,281 ​ Other ​ 77,545 ​ 48,747 ​ Total accrued liabilities ​ $ 400,850 ​ 367,444 ​ ​

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Long-Term Debt.
Long-Term Debt	(7) Long-Term Debt Long-term debt as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ ​ 2019 2020 ​ Credit Facility (a) ​ $ 552,000 ​ ​ 882,000 ​ 5.375% senior notes due 2021 (b) ​ ​ 952,500 ​ ​ 730,283 ​ 5.125% senior notes due 2022 (c) ​ ​ 923,041 ​ ​ 761,337 ​ 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 ​ ​ 791 ​ ​ 600 ​ Net unamortized debt issuance costs ​ ​ (19,464) ​ ​ (16,433) ​ Long-term debt ​ $ 3,758,868 ​ ​ 3,707,787 ​ ​ (a) Senior Secured Revolving Credit Facility Antero Resources has a senior secured revolving credit facility (the “Credit Facility”) with a consortium of bank lenders. On April 29, 2020, Antero Resources entered into a Third Amendment to the Credit Facility, pursuant to which certain terms of the Credit Facility were amended, as further described herein. Borrowings under the Credit Facility are subject to borrowing base limitations based on the collateral value of Antero Resources’ assets and are subject to regular semi-annual redeterminations. The borrowing base was adjusted to $2.85 billion and lender commitments were reaffirmed at $2.64 billion in the redetermination in April 2020. The next redetermination of the borrowing base is scheduled to occur in October 2020. The maturity date of the Credit Facility is the earlier of (i) October 26, 2022 and (ii) the date that is 91 days prior to the earliest stated redemption date of any series of Antero Resources’ senior notes then outstanding. Under the Credit Facility, “Investment Grade Period” is a period that, as long as no event of default has occurred, commences when Antero Resources elects to give notice to the Administrative Agent that Antero Resources has received at least one of (i) a BBB- or better rating from S&P Global Ratings (“S&P”) and (ii) a Baa3 or better rating from Moody’s (an “Investment Grade Rating”). An Investment Grade Period can end at Antero Resources’ election. During any period that is not an Investment Grade Period, the Credit Facility is ratably secured by mortgages on substantially all of Antero Resources’ properties, Antero Resources’ and Antero Subsidiary Holdings LLC’s ownership interests in Antero Midstream Corporation, Antero Resources’ ownership interest in Antero Subsidiary Holdings LLC and Monroe Pipeline LLC, and guarantees from Antero Resources’ restricted subsidiaries, as applicable. During an Investment Grade Period, the liens securing the obligations under the Credit Facility shall be automatically released (subject to the provisions of the Credit Facility). The Credit Facility contains certain covenants, including restrictions on indebtedness and dividends, and requirements with respect to working capital and interest coverage ratios. During any period that is not an Investment Grade Period, interest is payable at a variable rate based on (i) LIBOR or (ii) the Alternate Base Rate, in each case, determined by Antero Resources’ election at the time of borrowing, plus an applicable margin based on Antero Resources’ borrowing base utilization which ranges from 75 basis points to 275 basis points. Alternate Base Rate is defined as the greatest of (a) the prime rate, (b) the NYFRB rate plus ½ of 1% , and (c) LIBOR plus 1 %. During an Investment Grade Period, interest is payable at a variable rate based on LIBOR or the Alternate Base Rate determined by Antero Resources’ election at the time of borrowing, plus an applicable margin based on Antero Resources’ credit rating which ranges from 62.5 basis points to 225 basis points. In each case, the credit facility further provides a 1% floor for LIBOR and a 2% floor for the Alternate Base Rate. Antero Resources was in compliance with all of the financial covenants under the Credit Facility as of December 31, 2019 and March 31, 2020. ​ As of March 31, 2020, Antero Resources had an outstanding balance under the Credit Facility of $882 million, with a weighted average interest rate of 2.57%, and outstanding letters of credit of $730 million. As of December 31, 2019, Antero Resources had an outstanding balance under the Credit Facility of $552 million, with a weighted average interest rate of 3.28%, and outstanding letters of credit of $623 million. Commitment fees on the unused portion of the Credit Facility are due quarterly at rates ranging from (i) 0.300% to 0.375% (during any period that is not an Investment Grade Period) of the unused portion based on utilization and (ii) 0.150% to 0.300% (during an Investment Grade Period) of the unused portion based on Antero Resources’ credit rating. ​ (b) 5.375% Senior Notes Due 2021 On November 5, 2013, Antero Resources issued $1 billion of 5.375% senior notes due November 1, 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 Resources’ other outstanding senior notes. The 2021 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero Resources’ 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 a redemption price of 100.00 %. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2021 notes will have the right to require Antero Resources 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 Resources issued $600 million of 5.125% senior notes due December 1, 2022 (the “2022 notes”) at par . On September 18, 2014, Antero Resources 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 Resources’ other outstanding senior notes. The 2022 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero Resources’ 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 Resources may redeem all or part of the 2022 notes at any time at redemption prices ranging from 101.281% currently to 100.00% on or after June 1, 2020. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2022 notes will have the right to require Antero Resources 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 Resources 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 Resources’ other outstanding senior notes. The 2023 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero Resources’ 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 Resources may redeem all or part of the 2023 notes at any time at redemption prices ranging from 102.813% currently to 100.00% on or after June 1, 2021. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2023 notes will have the right to require Antero Resources 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 Resources 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 Resources’ other outstanding senior notes. The 2025 notes are guaranteed on a full and unconditional and joint and several senior unsecured basis by Antero Resources’ 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 Resources may redeem all or part of the 2025 notes at any time at redemption prices ranging from 103.750% currently to 100.00 % on or after March 1, 2023. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2025 notes will have the right to require Antero Resources 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 Resources has a revolving note with a lender that is also part of the Credit Facility lending consortium that provides for up to $25 million of cash management obligations in order to facilitate Antero Resources’ 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 June 1, 2020. There were no outstanding borrowings under the revolving note at (g) Debt Repurchase Program During the first quarter of 2020, Antero Resources repurchased $383 million principal amount of debt at a 21% weighted average discount, including a portion of the 2021 notes and the 2022 notes. The Company recognized a gain of approximately million on the early extinguishment of the debt repurchased. ​

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligations
Asset Retirement Obligations	(8) Asset Retirement Obligations The following is a reconciliation of the Company’s asset retirement obligations for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ Asset retirement obligations—December 31, 2019 $ 54,845 ​ Obligations incurred ​ 773 ​ Accretion expense ​ ​ 1,104 ​ Asset retirement obligations—March 31, 2020 ​ $ 56,722 ​ ​ Asset retirement obligations are included in other liabilities on the Company’s unaudited condensed consolidated balance sheets.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2020
Equity-Based Compensation
Equity-Based Compensation	(9) Equity-Based Compensation Antero Resources 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 Resources’ Board of Directors. A total of 1,742,720 shares were available for future grant under the Plan as of March 31, 2020. Antero Midstream Partners’ general partner was authorized to grant up to 10,000,000 common units representing limited partner interests in Antero Midstream Partners under the Antero Midstream Partners LP Long-Term Incentive Plan (the “AMP Plan”) to non-employee directors of its general partner and certain officers, employees, and consultants of Antero Midstream Partners and its affiliates (which includes Antero Resources). As part of the Transactions, each outstanding phantom unit award under the AMP Plan, was assumed by Antero Midstream Corporation and converted into 1.8926 restricted stock units under the Antero Midstream Corporation Long Term Incentive Plan (the “AMC Plan”). Each restricted stock unit award under the AMC Plan represents a right to receive one share of Antero Midstream Corporation common stock. The Company’s equity-based compensation expense, by type of award, was as follows for the three months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ 2019 2020 ​ Restricted stock unit awards ​ $ 3,972 ​ ​ 1,878 ​ Stock options ​ ​ 344 ​ ​ — ​ Performance share unit awards ​ ​ 2,959 ​ ​ 922 ​ Antero Midstream Partners phantom unit awards (1) ​ ​ 1,125 ​ ​ 160 ​ Equity awards issued to directors ​ ​ 503 ​ ​ 369 ​ Total expense ​ $ 8,903 ​ ​ 3,329 ​ (1) Partners to Antero Resources. Antero Resources allocates a portion of equity-based compensation expense related to grants prior to the Transactions to Antero Partners based on its proportionate share of Antero Resources’ labor costs. Through March 12, 2019, the total amount of equity-based compensation is included in the consolidated financial statements of Antero Resources; and effective March 13, 2019 (date of deconsolidation), the amount allocated to Antero Partners is no longer reflected in Antero Resources consolidated financial statements. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions. Restricted Stock Unit Awards A summary of restricted stock unit award activity for the three months ended March 31, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ average ​ Aggregate ​ ​ ​ Number of ​ grant date ​ intrinsic value ​ ​ shares fair value (in thousands) ​ Total awarded and unvested—December 31, 2019 ​ 2,370,575 ​ $ 12.81 ​ $ 6,756 ​ Granted ​ 4,644,934 ​ $ 2.39 ​ ​ ​ ​ Vested ​ (191,216) ​ $ 5.04 ​ ​ ​ ​ Forfeited ​ (69,293) ​ $ 13.07 ​ ​ ​ ​ Total awarded and unvested—March 31, 2020 ​ 6,755,000 ​ $ 5.86 ​ $ 4,816 ​ ​ Intrinsic values are based on the closing price of Antero Resources’ common stock on the referenced dates. As of March 31, 2020, there was $27 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 2.3 years. Stock Options A summary of stock option activity for the three months ended March 31, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ Intrinsic ​ ​ ​ Stock ​ exercise ​ contractual ​ value ​ ​ options price life (in thousands) ​ Outstanding at December 31, 2019 ​ 467,633 ​ $ 50.64 ​ 5.05 ​ $ — ​ Granted ​ — ​ $ — ​ ​ ​ ​ ​ ​ Exercised ​ — ​ $ — ​ ​ ​ ​ ​ ​ Forfeited ​ (8,339) ​ $ 52.36 ​ ​ ​ ​ ​ ​ Expired ​ — ​ $ — ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2020 ​ 459,294 ​ $ 50.61 ​ 4.77 ​ $ — ​ Vested or expected to vest as of March 31, 2020 ​ 459,294 ​ $ 50.61 ​ 4.77 ​ $ — ​ Exercisable at March 31, 2020 ​ 459,294 ​ $ 50.61 ​ 4.77 ​ $ — ​ ​ Intrinsic values are based on the exercise price of the options and the closing price of Antero Resources’ common stock on the referenced dates. As of March 31, 2020, all stock options were fully vested resulting in no unamortized equity-based compensation expense. Performance Share Unit Awards ​ As of March 31, 2020, there was $14 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 1.6 years. Cash Awards During the three months ended March 31, 2020, the Company granted cash awards of approximately $3.3 million to certain executives under the Plan. Compensation expense for these awards is recognized ratably over the vesting period for each of three tranches through January 20, 2023. As of March 31, 2020, the Company has accrued approximately $0.6 million in Other liabilities in the unaudited condensed consolidated balance sheet related to such cash awards. Antero Midstream Partners Phantom Unit Awards and Antero Midstream Corporation Restricted Stock Unit Awards A summary of Antero Midstream Corporation restricted stock unit awards for the three months ended March 31, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ average ​ Aggregate ​ ​ ​ Number of ​ grant date ​ intrinsic value ​ ​ units fair value (in thousands) ​ Total awarded and unvested—December 31, 2019 ​ 657,757 ​ $ 14.71 ​ $ 4,992 ​ Granted ​ — ​ $ — ​ ​ ​ ​ Vested ​ (10,120) ​ $ 15.81 ​ ​ ​ ​ Forfeited ​ (9,496) ​ $ 13.75 ​ ​ ​ ​ Total awarded and unvested—March 31, 2020 ​ 638,141 ​ $ 14.70 ​ $ 1,340 ​ ​ Intrinsic values are based on the closing price of shares of Antero Midstream Corporation common stock. As of March 31, 2020, there was $5 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 1.5 years.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2020
Financial Instruments
Financial Instruments	(10) Financial Instruments The carrying values of accounts receivable and accounts payable at December 31, 2019 and March 31, 2020 approximated market values because of their short-term nature. The carrying values of the amounts outstanding under the Credit Facility at December 31, 2019 and March 31, 2020 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 senior notes was approximately $2.8 billion and $1.5 billion at December 31, 2019 and March 31, 2020, respectively. See Note 11 to the unaudited condensed consolidated financial statements for information regarding the fair value of derivative financial instruments.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments.
Derivative Instruments	(11) 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 entered into 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 three months ended March 31, 2019 and 2020. 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, 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. The Company also entered into NGL derivative contracts, which establish a contractual price for the settlement month as a fixed percentage of the West Texas Intermediate Crude Oil index (“WTI”) price for the settlement month. When the percentage of the contractual price is above the contracted percentage, the Company pays the difference to the counterparty. When it is below the contracted percentage, the Company receives the difference from the counterparty. In addition, the Company has also entered into a call option agreement that gives the counterparty the right, but not the obligation, to enter into a fixed price swap agreement on a specified future date for a specific amount of production for a specified future period. The Company’s derivative contracts have not been designated as hedges for accounting purposes; therefore, all gains and losses are recognized in the Company’s statements of operations. As of March 31, 2020, the Company’s fixed price natural gas, oil and NGL swap positions from April 1, 2020 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; NYMEX-WTI=West Texas Intermediate; ARA Propane =European Propane CIF ARA): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural Gas ​ ​ ​ Weighted ​ ​ ​ Natural gas ​ Liquids ​ Oil ​ average index ​ ​ MMBtu/day Bbls/day Bbls/day price Nine months ending December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 2,227,500 ​ ​ ​ — ​ $ 2.87 ​ ARA Propane ($/Gal) ​ — ​ 10,352 ​ — ​ ​ 0.65 ​ NYMEX-WTI ($/Bbl) ​ — ​ — ​ 26,000 ​ ​ 55.63 ​ Total ​ 2,227,500 ​ 10,352 ​ 26,000 ​ ​ ​ ​ Year ending December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 2,400,000 ​ ​ ​ — ​ $ 2.80 ​ NYMEX-WTI ($/Bbl) ​ — ​ ​ ​ 3,000 ​ ​ 55.16 ​ Total ​ 2,400,000 ​ ​ ​ 3,000 ​ ​ ​ ​ Year ending December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 687,500 ​ ​ ​ ​ ​ $ 2.48 ​ Year ending December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 50,000 ​ ​ ​ ​ ​ $ 2.39 ​ ​ A portion of the NYMEX-WTI ($/Bbl) in 2020 combined with the Mont Belvieu Natural Gasoline to NYMEX-WTI are intended to fix the price of Natural Gasoline. ​ In addition, we have a call option agreement, which entitles the holder the right, but not the obligation, to enter into a fixed price swap agreement on December 21, 2023 to purchase 427,500 MMBtu per day at a price of $2.77 per MMBtu for the year ending December 31, 2024. ​ As of March 31, 2020, the Company’s natural gas basis swap positions, which settle on the pricing index to basis differential of the Columbia Gas Transmission pipeline (“TCO”) to the NYMEX Henry Hub natural gas price, and NGL basis swap positions, which settle on the pricing index to basis differential of Mont Belvieu Butane to the European Butane CIF ARA natural gas liquids price, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural Gas ​ Weighted ​ ​ ​ Natural gas ​ Liquids ​ average hedged ​ ​ MMBtu/day Bbls/day differential ​ Three months ending June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ARA to Mont Belvieu Non-TET ($/Gal) ​ — ​ 1,602 ​ $ 0.22 ​ Nine months ending December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 60,000 ​ ​ ​ $ 0.353 ​ Year ending December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 40,000 ​ ​ ​ $ 0.414 ​ Year ending December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 60,000 ​ ​ ​ $ 0.515 ​ Year ending December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 50,000 ​ ​ ​ $ 0.525 ​ Year ending December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 50,000 ​ ​ ​ $ 0.530 ​ ​ As of March 31, 2020, the Company had NGL contracts for April 1, 2020 through December 31, 2021 that fix the Mont Belvieu index price for natural gasoline to percentages of WTI as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Gas ​ average ​ ​ ​ ​ Liquids ​ Payout ​ ​ ​ Bbls/day Ratio ​ ​ Nine months ending December 31, 2020: ​ ​ ​ ​ ​ ​ Mont Belvieu Natural Gasoline to NYMEX-WTI ​ 18,800 ​ 80 % ​ Year ending December 31, 2021: ​ ​ ​ ​ ​ ​ Mont Belvieu Natural Gasoline to NYMEX-WTI ​ 18,650 ​ 78 % ​ ​ A portion of the Mont Belvieu Natural Gasoline to NYMEX-WTI combined with the NYMEX-WTI ($/Bbl) in 2020 are intended to fix the price of Natural Gasoline. ​ (b) Summary 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, 2019 and March 31, 2020. None of the Company’s derivative instruments are designated as hedges for accounting purposes and the fair value of derivative instruments was determined using Level 2 inputs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ March 31, 2020 ​ ​ ​ Balance sheet ​ Fair value ​ Balance sheet ​ Fair value ​ ​ location (In thousands) location (In thousands) ​ Asset derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current ​ Derivative instruments ​ $ 422,849 ​ Derivative instruments ​ $ 816,444 ​ Commodity derivatives—noncurrent ​ Derivative instruments ​ ​ 333,174 ​ Derivative instruments ​ ​ 284,461 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total asset derivatives ​ ​ ​ ​ 756,023 ​ ​ ​ ​ 1,100,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current ​ Derivative instruments ​ ​ 6,721 ​ Derivative instruments ​ ​ — ​ Commodity derivatives—noncurrent ​ Derivative instruments ​ ​ 3,519 ​ Derivative instruments ​ ​ 215 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liability derivatives ​ ​ ​ ​ 10,240 ​ ​ ​ ​ 215 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net derivatives ​ ​ ​ $ 745,783 ​ ​ ​ $ 1,100,690 ​ ​ 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, 2019 ​ March 31, 2020 ​ ​ ​ Gross ​ Gross amounts ​ Net amounts of ​ Gross ​ Gross amounts ​ Net amounts of ​ ​ ​ amounts on ​ offset on ​ assets (liabilities) ​ amounts on ​ offset on ​ assets (liabilities) ​ ​ balance sheet balance sheet on balance sheet balance sheet balance sheet on balance sheet Commodity derivative assets ​ $ 882,817 ​ ​ (126,794) ​ ​ 756,023 ​ $ 1,193,046 ​ ​ (92,141) ​ ​ 1,100,905 ​ Commodity derivative liabilities ​ $ (137,034) ​ ​ 126,794 ​ ​ (10,240) ​ $ (92,356) ​ ​ 92,141 ​ ​ (215) ​ ​ The following is a summary of derivative fair value gains and losses and where such values are recorded in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Statement of ​ ​ ​ ​ ​ operations ​ Three months ended March 31, ​ ​ location 2019 2020 ​ Commodity derivative fair value gains (losses) ​ Revenue ​ $ (77,368) ​ ​ 565,833 ​ ​

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases
Leases	(12) Leases The Company leases certain office space, processing plants, drilling rigs and completion services, gas gathering lines, compressor stations, and other office and field equipment. Leases with an initial term of 12 months or less are considered short-term and are not recorded on the balance sheet. Instead, the short-term leases are recognized in expense on a straight-line basis over the lease term. Most leases include one more extend lease one or more. The exercise of the lease renewal options are at the Company’s sole discretion. The depreciable lives of the leased assets are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Certain of the Company’s lease agreements include minimum payments based on a percentage of produced volumes over contractual levels and others include rental payments adjusted periodically for inflation. The Company considers all contracts that have assets specified in the contract, either explicitly or implicitly, that the Company has substantially all of the capacity of the asset, and has the right to obtain substantially all of the economic benefits of that asset, without the lessor’s ability to have a substantive right to substitute that asset, as leased assets. For any contract deemed to include a leased asset, that asset is capitalized on the balance sheet as a right-of-use asset and a corresponding lease liability is recorded at the present value of the known future minimum payments of the contract using a discount rate on the date of commencement. The leased asset classification is determined at the date of recording as either operating or financing, depending upon certain criteria of the contract. The discount rate used for present value calculations is the discount rate implicit in the contract. If an implicit rate is not determinable, a collateralized incremental borrowing rate is used at the date of commencement. As new leases commence or previous leases are modified the discount rate used in the present value calculation is the current period applicable discount rate. The Company has made an accounting policy election to adopt the practical expedient for combining lease and non-lease components on an asset class basis. This expedient allows the Company to combine non-lease components such as real estate taxes, insurance, maintenance, and other operating expenses associated with the leased premises with the lease component of a lease agreement on an asset class basis when the non-lease components of the agreement cannot be easily bifurcated from the lease payment. Currently, the Company is only applying this expedient to certain office space agreements. Supplemental Balance Sheet Information Related to Leases The Company’s lease assets as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ March 31, 2020 ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ Right-of-use Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing plants ​ $ 1,460,770 ​ ​ — ​ $ 1,440,110 ​ ​ — ​ Drilling rigs and completion services ​ ​ 71,662 ​ ​ — ​ ​ 56,353 ​ ​ — ​ Gas gathering lines and compressor stations (1) ​ ​ 1,308,428 ​ ​ — ​ ​ 1,273,200 ​ ​ — ​ Office space ​ ​ 40,491 ​ ​ — ​ ​ 39,631 ​ ​ — ​ Vehicles ​ ​ 4,983 ​ ​ 2,328 ​ ​ 4,232 ​ ​ 2,058 ​ Other office and field equipment ​ ​ 166 ​ ​ 170 ​ ​ 1,013 ​ ​ — ​ Total right-of-use assets ​ $ 2,886,500 ​ ​ 2,498 ​ $ 2,814,539 ​ ​ 2,058 (2) (1) Gas gathering lines and compressor stations leases includes $1.1 billion related to Antero Midstream Corporation as of December 31, 2019 and March 31, 2020. See “—Related party lease disclosure” for additional discussion. (2) Financing lease assets are recorded net of accumulated amortization of $9 million and $3 million as of December 31, 2019 and March 31, 2020, respectively. ​ The Company’s lease liabilities as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ March 31, 2020 ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ Location on the balance sheet: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term lease liabilities ​ $ 304,397 ​ ​ 923 ​ $ 294,535 ​ ​ 1,123 ​ Long-term lease liabilities ​ ​ 2,582,103 ​ ​ 1,575 ​ ​ 2,520,004 ​ ​ 935 ​ Total lease liabilities ​ $ 2,886,500 ​ ​ 2,498 ​ $ 2,814,539 ​ ​ 2,058 ​ ​ The processing plants, gathering lines and compressor stations that are classified as lease liabilities are classified as such under ASC 842 because Antero is the sole customer of the assets and because Antero makes the decisions that most impact the economic performance of the assets. Supplemental Information Related to Leases Costs associated with operating leases were included in the statement of operations and comprehensive income (loss) for the three months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Statement of Operations Location ​ March 31, 2019 ​ March 31, 2020 Gathering, compression, processing, and transportation ​ $ 187,847 ​ ​ 352,643 General and administrative ​ ​ 2,726 ​ ​ 2,881 Contract termination and rig stacking ​ ​ 8,019 ​ ​ — Total lease expense ​ $ 198,592 ​ ​ 355,524 ​ Costs associated with finance leases of less than $1 million for each of the three months ended March 31, 2019 and 2020 were included in interest expense. We capitalized $55 million and $33 million, respectively, of costs related to operating leases and less than $1 million of costs related to finance leases during each of the three months ended March 31, 2019 and 2020. Short-term lease costs that are more than one month but less than 12 months are excluded from the above amounts and total $35 million and $63 million, respectively, for the three months ended March 31, 2019 and 2020. Supplemental Cash Flow Information Related to Leases The following is the Company’s supplemental cash flow information related to leases for the three months ended March 31, 2019 and March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 ​ Three months ended March 31, 2020 ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash out flows related to operating leases ​ $ 150,320 ​ ​ — ​ $ 358,039 ​ ​ — ​ Investing cash out flows related to operating leases ​ ​ 52,366 ​ ​ — ​ ​ 27,534 ​ ​ — ​ Financing cash out flows related to financing leases ​ ​ — ​ ​ 791 ​ ​ — ​ ​ 439 ​ ​ ​ $ 202,686 ​ ​ 791 ​ $ 385,573 ​ ​ 439 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncash activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right of use assets obtained in exchange for operating lease liabilities ​ $ 3,345,549 ​ ​ — ​ $ 9,382 ​ ​ — ​ Right of use assets obtained in exchange for financing lease liabilities ​ $ — ​ ​ — ​ $ — ​ ​ — ​ ​ Maturities of Lease Liabilities The table below is a schedule of future minimum payments for operating and financing lease liabilities as of March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ Operating Leases ​ Financing Leases ​ Total ​ Remainder of 2020 ​ $ 464,093 ​ ​ 978 ​ ​ 465,071 ​ 2021 ​ ​ 558,241 ​ ​ 844 ​ ​ 559,085 ​ 2022 ​ ​ 543,326 ​ ​ 321 ​ ​ 543,647 ​ 2023 ​ ​ 538,771 ​ ​ 7 ​ ​ 538,778 ​ 2024 ​ ​ 530,003 ​ ​ — ​ ​ 530,003 ​ 2025 ​ ​ 457,326 ​ ​ — ​ ​ 457,326 ​ Thereafter ​ ​ 1,394,412 ​ ​ — ​ ​ 1,394,412 ​ Total lease payments ​ ​ 4,486,172 ​ ​ 2,150 ​ ​ 4,488,322 ​ Less: imputed interest ​ ​ (1,671,633) ​ ​ (92) ​ ​ (1,671,725) ​ Total ​ $ 2,814,539 ​ ​ 2,058 ​ ​ 2,816,597 ​ ​ ​ Lease Term and Discount Rate The table below is the Company’s weighted-average remaining lease term and discount rate as of March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases ​ Weighted-average remaining lease term: ​ ​ 8.5 years ​ ​ 2.0 years ​ Weighted-average discount rate: ​ ​ 11.6 % ​ 6.1 % ​ Related party lease disclosure The Company has a gathering and compression agreement with Antero Midstream Corporation, whereby Antero Midstream Corporation receives a low-pressure gathering fee per Mcf, a high-pressure gathering fee per Mcf, and a compression fee per Mcf, in each case subject to adjustments based on the consumer price index. If and to the extent we request that Antero Midstream Corporation construct new high pressure lines and compressor stations, the gathering and compression agreement contains minimum volume commitments that require Antero Resources to utilize or pay for . In December 2019, the Company and Antero Midstream Corporation agreed to extend the initial term of the gathering and compression agreement to 2038 and established a growth incentive fee program whereby low pressure gathering fees will be reduced from 2020 through 2023 to the extent the Company achieves certain volumetric targets at certain points during such time. Upon completion of the initial contract term, the gathering and compression agreement will continue in effect from year to year until such time as the agreement is terminated, effective upon an anniversary of the effective date of the agreement, by either the Company or Antero Midstream Corporation on or before the 180 th day prior to the anniversary of such effective date. The Company achieved the volumetric targets for the three months ended March 31, 2020, and Antero Midstream Corporation provided a rebate of $12 million. ​ For the three months ended March 31, 2019 and 2020, gathering and compression fees paid by Antero related to this agreement were $152 million and $156 million, respectively. As of March 31, 2020,

Commitments

Commitments	3 Months Ended
	Mar. 31, 2020
Commitments
Commitments	(13) Commitments 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, which include leases that have remaining lease terms in excess of one year as of March 31, 2020 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Firm ​ gathering and ​ Land payment ​ Operating and ​ Imputed Interest ​ ​ ​ ​ ​ transportation ​ compression ​ obligations ​ Financing Leases ​ for Leases ​ ​ ​ ​ (a) (b) (c) (d) (d) Total Remainder of 2020 ​ $ 832,753 ​ ​ 42,144 ​ ​ 2,411 ​ ​ 228,796 ​ ​ 236,275 ​ ​ 1,342,379 ​ 2021 ​ ​ 1,076,995 ​ ​ 55,780 ​ ​ 2,859 ​ ​ 269,661 ​ ​ 289,424 ​ ​ 1,694,719 ​ 2022 ​ ​ 1,034,275 ​ ​ 53,606 ​ ​ 328 ​ ​ 284,665 ​ ​ 258,982 ​ ​ 1,631,856 ​ 2023 ​ ​ 1,057,150 ​ ​ 58,565 ​ ​ — ​ ​ 313,475 ​ ​ 225,303 ​ ​ 1,654,493 ​ 2024 ​ ​ 1,017,104 ​ ​ 58,687 ​ ​ — ​ ​ 342,348 ​ ​ 187,655 ​ ​ 1,605,794 ​ 2025 ​ ​ 977,891 ​ ​ 47,385 ​ ​ — ​ ​ 308,465 ​ ​ 148,861 ​ ​ 1,482,602 ​ Thereafter ​ ​ 6,930,640 ​ ​ 105,138 ​ ​ — ​ ​ 1,069,187 ​ ​ 325,225 ​ ​ 8,430,190 ​ Total ​ $ 12,926,808 ​ ​ 421,305 ​ ​ 5,598 ​ ​ 2,816,597 ​ ​ 1,671,725 ​ ​ 17,842,033 ​ ​ (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, gathering and compression service agreements. Certain of these agreements were determined to be leases. The minimum payment obligations under the agreements that are not leases are presented in this column. 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. (c) Land Payment Obligations The Company has entered into various land acquisition agreements. Certain of these agreements contain minimum payment obligations over various terms. The values in the table represent the minimum payments due under these arrangements. None of these agreements were determined to be leases. (d) Leases, including imputed interest The Company has obligations under contracts for services provided by drilling rigs and completion fleets, processing, gathering, and compression services agreements, and office and equipment leases. The values in the table represent the gross amounts that we are committed to pay; however, we will record in our financial statements our proportionate share of costs based on our working interests. Refer to Note 12 to the unaudited condensed consolidated financial statements for more information on the Company’s operating and finance leases.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2020
Contingencies
Contingencies	(14) Contingencies Environmental In June 2018, following site inspections conducted in September 2017 at certain of our facilities located in Doddridge County, Tyler County, and Ritchie County, West Virginia, we received a Notice of Violation (“NOV”) from the U.S. Environmental Protection Agency (“EPA”) Region III for alleged violations of the federal Clean Air Act and the West Virginia State Implementation Plan relating to permitting and control requirements for emissions of regulated pollutants at several of our natural gas production facilities. The NOV alleges that combustion devices at these facilities did not meet applicable air permitting requirements. Separately, in June 2018, we received an information request from EPA Region III pursuant to Section 114(a) of the Clean Air Act relating to the facilities that were inspected in September 2017 as well as additional Antero Resources facilities for the purpose of determining if the additional facilities have the same alleged compliance issues that were identified during the September 2017 inspections. We have separately received an NOV from West Virginia Department of Environmental Protection (“WVDEP”) alleging violations relating to the same issues being investigated by the EPA. We continue to negotiate with EPA and WVDEP to resolve the issues alleged in the NOVs and the information request; however, we believe that there is a reasonable possibility that these actions may result in monetary sanctions exceeding $100,000 . Our operations at these facilities are not suspended, and management does not expect these matters to have a material adverse effect on our financial condition, results of operations, or cash flows. WGL The Company and Washington Gas Light Company and WGL Midstream, Inc. (collectively, “WGL”) were involved in a pricing dispute involving firm gas sales contracts executed June 20, 2014 (the “Contracts”) that the Company began delivering gas under in January 2016. From January 2016 through July 2017 and from December 2017 through January 2018, the aggregate daily gas volumes contracted for under the Contracts was 500,000 MMBtu/day, with the aggregate daily contracted volumes having increased to 600,000 MMBtu/day from August through November 2017. The Company invoiced WGL based on the natural gas index price specified in the Contracts and WGL paid the Company based on that invoice price. However, WGL asserted that the index price was no longer appropriate under the Contracts and claimed 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, nor will future invoices to WGL be adjusted based on the same claim rejected by the arbitration panel. The arbitration panel’s award was confirmed by the Colorado district court on April 14, 2017. In March of 2017, WGL filed a second legal proceeding against the Company in Colorado district court alleging breach of contract and seeking damages of more than $30 million. In this lawsuit, WGL claimed that the Company breached its contractual obligations under the Contracts by failing to deliver “TCO pool” gas. In subsequent filings, WGL explained that its claims were based on an alleged obligation that the Company must deliver gas to the Columbia IPP Pool (“IPP Pool”). WGL asserted this exact same issue in the arbitration and it was rejected by the arbitration panel. The arbitration panel specifically found that the Delivery Point under the Contracts was at a specific geographic point in Braxton County, West Virginia, not the IPP Pool. On August 24, 2017, the Colorado district court dismissed with prejudice WGL’s claims against the Company in its new lawsuit and found that the Company had not breached its Contracts with WGL by allegedly failing to deliver to the IPP Pool. The Court dismissed WGL’s lawsuit because WGL had not adequately pled a claim against Antero Resources for the alleged failure to deliver “TCO pool” gas under the Contracts. WGL has appealed this decision to the Colorado Court of Appeals and on October 11, 2018 the Colorado Court of Appeals reversed the Colorado district court’s decision finding that WGL had adequately pled a claim for relief and remanded the case back to the district court for further proceedings. The Company is also actively engaged in pursuing cover damages against WGL based on WGL’s failure to take receipt of all of the agreed quantities of gas required under the Contracts. WGL’s failure to take the gas volumes specified in the Contracts is directly related to WGL’s lack of primary firm transportation rights at the Delivery Point. The failures by WGL to take the full contracted volumes of gas began in April 2017 and continued each month through December 2017 in varying quantities. In defense of its conduct, WGL asserted to the Company that their failure to receive gas is excused by (1) the Company’s failure to deliver gas to the IPP Pool or (2) alleged instances of Force Majeure under the Contracts. However, as stated above, the alleged obligation that the Company must deliver gas to the IPP Pool was already rejected by the arbitration panel. Further, the Contracts expressly prohibit a Force Majeure claim in circumstances in which the gas purchaser does not have primary firm transportation agreements in place to transport the purchased gas. In each instance that WGL failed to receive the quantity of gas required under the Contracts, the Company resold the quantities not taken and invoiced WGL for cover damages pursuant to the terms of the Contracts. WGL refused to pay for the invoiced cover damages as required by the Contracts and also short paid the Company for, among other things, certain amounts of gas received by WGL. The Company filed a lawsuit against WGL in Colorado district court on October 24, 2017 to recover its cover damages, other unpaid amounts, and interest. WGL’s claims have been consolidated with Antero Resources’ claims in the same district court and trial began on June 10, 2019. WGL quantified its damages claim for the alleged failure to deliver TCO Pool gas and sought approximately $40 million from Antero Resources. On June 20, 2019, the Company was awarded a jury verdict of approximately $96 million in damages after the jury found that WGL breached the Contracts with the Company. In addition, the jury rejected WGL’s claim against the Company, finding that the Company did not breach the Contracts by allegedly failing to deliver TCO Pool gas and awarding no damages in favor of WGL. On August 16, 2019, WGL appealed the judgment and the appeal is currently pending before the Colorado Court of Appeals. Effective February 1, 2018, as a result of a recent amendment to its firm gas sales contract with WGL Midstream, Inc. that was executed on December 28, 2017, the total aggregate volumes to be delivered to WGL at the Braxton delivery point were reduced from 500,000 MMBtu/day to 200,000 MMBtu/day and in November 2018, the total aggregate contract volumes to be delivered to WGL at a delivery point in Loudoun County, Virginia increased by 330,000 MMBtu/day. This increase of 330,000 MMBtu/day is in effect for the remaining term of our gas sale contract with WGL Midstream, which expires in 2038, and these increased volumes are subject to NYMEX-based pricing. Following this increase, the aggregate contract volumes delivered to WGL total 530,000 MMBtu/day. Other 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. ​

Contract Termination and Rig St

Contract Termination and Rig Stacking	3 Months Ended
	Mar. 31, 2020
Contract Termination and Rig Stacking
Contract Termination and Rig Stacking	(15) Contract Termination and Rig Stacking The Company incurred costs associated with the delay or cancellation of drilling and completion contracts with third-party contractors of approximately $8 million for the three months ended March 31, 2019. No

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2020
Related Parties
Related Parties	(16) Related Parties Antero Midstream Partners’ operations comprised substantially all of the operations reflected in the gathering and processing, and water handling and treatment, results through March 12, 2019. Effective March 13, 2019, Antero Resources accounts for Antero Midstream Corporation as an equity method investment. See Note 3 to the unaudited condensed consolidated financial statements for more discussion on the Transactions. Substantially all of the revenues for gathering and processing and water handling and treatment were derived from transactions with Antero Resources. See Note 17 to the unaudited condensed consolidated financial statements for the operating results of the Company’s reportable segments.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Information
Segment Information	(17) Segment Information See Note 2(l) to the unaudited condensed consolidated financial statements for a description of the Company’s determination of its reportable segments. Revenues from gathering and processing and water handling and treatment operations were primarily derived from intersegment transactions for services provided to the Company’s exploration and production operations prior to the closing of the Transactions. Through March 12, 2019, the results of Antero Partners were included in the consolidated financial statements of Antero Resources. Effective March 13, 2019, the results of Antero Partners are no longer consolidated in Antero Resources’ results; however, the Company’s segment disclosures include the results of our unconsolidated affiliates due to their significance to the Company’s operations. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions. 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 (loss) of each segment. General and administrative expenses were allocated to the midstream segment 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 were 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 unaudited condensed consolidated financial statements. The operating results and assets of the Company’s reportable segments were as follows for the three months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Method ​ Elimination of ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in ​ intersegment ​ ​ ​ ​ ​ Exploration ​ ​ ​ Antero ​ transactions and ​ ​ ​ ​ ​ and ​ ​ ​ Midstream ​ unconsolidated ​ Consolidated ​ ​ production Marketing Corporation affiliates total ​ Three months ended March 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 941,635 ​ ​ 91,186 ​ ​ 4 ​ ​ — ​ ​ 1,032,825 ​ Intersegment ​ 1,758 ​ ​ — ​ ​ 54,104 ​ ​ (51,280) ​ ​ 4,582 ​ Total ​ $ 943,393 ​ ​ 91,186 ​ ​ 54,108 ​ ​ (51,280) ​ ​ 1,037,407 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ $ 42,969 ​ ​ — ​ ​ 11,815 ​ ​ (13,052) ​ ​ 41,732 ​ Gathering, compression, processing, and transportation ​ ​ 535,015 ​ ​ — ​ ​ 2,935 ​ ​ (113,421) ​ ​ 424,529 ​ Impairment of oil and gas properties ​ ​ 81,244 ​ ​ — ​ ​ — ​ ​ — ​ ​ 81,244 ​ Impairment of midstream assets ​ ​ — ​ ​ — ​ ​ 6,982 ​ ​ — ​ ​ 6,982 ​ Depletion, depreciation, and amortization ​ ​ 218,494 ​ ​ — ​ ​ 7,650 ​ ​ 14,057 ​ ​ 240,201 ​ General and administrative ​ ​ 49,908 ​ ​ — ​ ​ 2,184 ​ ​ 16,110 ​ ​ 68,202 ​ Other ​ ​ 44,137 ​ ​ 163,084 ​ ​ 1,291 ​ ​ (288) ​ ​ 208,224 ​ Total ​ ​ 971,767 ​ ​ 163,084 ​ ​ 32,857 ​ ​ (96,594) ​ ​ 1,071,114 ​ Operating income (loss) ​ $ (28,374) ​ ​ (71,898) ​ ​ 21,251 ​ ​ 45,314 ​ ​ (33,707) ​ Equity in earnings of unconsolidated affiliates ​ $ 1,817 ​ ​ — ​ ​ 2,880 ​ ​ 9,384 ​ ​ 14,081 ​ Investments in unconsolidated affiliates ​ $ 1,989,612 ​ ​ — ​ ​ 1,153,943 ​ ​ (1,153,943) ​ ​ 1,989,612 ​ Segment assets ​ $ 17,263,369 ​ ​ 25,361 ​ ​ 6,660,325 ​ ​ (6,660,325) ​ ​ 17,288,730 ​ Capital expenditures for segment assets ​ $ 399,278 ​ ​ — ​ ​ 16,005 ​ ​ 56,650 ​ ​ 471,933 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Method ​ Elimination of ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in ​ intersegment ​ ​ ​ ​ ​ Exploration ​ ​ ​ Antero ​ transactions and ​ ​ ​ ​ ​ and ​ ​ ​ Midstream ​ unconsolidated ​ Consolidated ​ ​ production Marketing Corporation affiliates total ​ Three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 1,270,234 ​ ​ 46,073 ​ ​ — ​ ​ — ​ ​ 1,316,307 ​ Intersegment ​ 798 ​ ​ — ​ ​ 243,708 ​ ​ (243,708) ​ ​ 798 ​ Total ​ $ 1,271,032 ​ ​ 46,073 ​ ​ 243,708 ​ ​ (243,708) ​ ​ 1,317,105 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ $ 25,644 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25,644 ​ Gathering, compression, processing, and transportation ​ ​ 588,624 ​ ​ — ​ ​ 55,908 ​ ​ (55,908) ​ ​ 588,624 ​ Impairment of oil and gas properties ​ ​ 89,220 ​ ​ — ​ ​ — ​ ​ — ​ ​ 89,220 ​ Impairment of midstream assets ​ ​ — ​ ​ — ​ ​ 664,544 ​ ​ (664,544) ​ ​ — ​ Depletion, depreciation, and amortization ​ ​ 199,677 ​ ​ — ​ ​ 27,343 ​ ​ (27,343) ​ ​ 199,677 ​ General and administrative ​ ​ 31,221 ​ ​ — ​ ​ 10,199 ​ ​ (10,199) ​ ​ 31,221 ​ Other ​ ​ 27,013 ​ ​ 93,273 ​ ​ 4,878 ​ ​ (4,878) ​ ​ 120,286 ​ Total ​ ​ 961,399 ​ ​ 93,273 ​ ​ 762,872 ​ ​ (762,872) ​ ​ 1,054,672 ​ Operating income (loss) ​ $ 309,633 ​ ​ (47,200) ​ ​ (519,164) ​ ​ 519,164 ​ ​ 262,433 ​ Equity in earnings (loss) of unconsolidated affiliates ​ $ (128,055) ​ ​ — ​ ​ 19,077 ​ ​ (19,077) ​ ​ (128,055) ​ Investments in unconsolidated affiliates ​ $ 291,989 ​ ​ — ​ ​ 716,778 ​ ​ (716,778) ​ ​ 291,989 ​ Segment assets ​ $ 14,516,150 ​ ​ 9,639 ​ ​ 5,781,359 ​ ​ (5,781,359) ​ ​ 14,525,789 ​ Capital expenditures for segment assets ​ $ 311,611 ​ ​ — ​ ​ 67,983 ​ ​ (67,983) ​ ​ 311,611 ​ ​

Subsidiary Guarantors

Subsidiary Guarantors	3 Months Ended
	Mar. 31, 2020
Subsidiary Guarantors
Subsidiary Guarantors	(18) Subsidiary Guarantors Each of the Company’s wholly owned subsidiaries has fully and unconditionally guaranteed Antero Resources’ senior notes. 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 Antero (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 that 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, 2019 and March 31, 2020, and the related Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2019 and 2020, and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2019 and 2020 present financial information for Antero Resources 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. The Company’s wholly owned subsidiaries are not restricted from making distributions to the Company. Condensed Consolidating Balance Sheet (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable, net ​ $ 46,419 ​ ​ — ​ ​ — ​ ​ — ​ ​ 46,419 ​ Accounts receivable, related parties ​ ​ 125,000 ​ ​ 299,450 ​ ​ — ​ ​ (299,450) ​ ​ 125,000 ​ Accrued revenue ​ ​ 317,886 ​ ​ — ​ ​ — ​ ​ — ​ ​ 317,886 ​ Derivative instruments ​ ​ 422,849 ​ ​ — ​ ​ — ​ ​ — ​ ​ 422,849 ​ Other current assets ​ ​ 10,731 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,731 ​ Total current assets ​ ​ 922,885 ​ ​ 299,450 ​ ​ — ​ ​ (299,450) ​ ​ 922,885 ​ Property and equipment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas properties, at cost (successful efforts method): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unproved properties ​ ​ 1,368,854 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,368,854 ​ Proved properties ​ ​ 11,859,817 ​ ​ — ​ ​ — ​ ​ — ​ ​ 11,859,817 ​ Gathering systems and facilities ​ ​ 5,802 ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,802 ​ Other property and equipment ​ ​ 71,895 ​ ​ — ​ ​ — ​ ​ — ​ ​ 71,895 ​ ​ ​ ​ 13,306,368 ​ ​ — ​ ​ — ​ ​ — ​ ​ 13,306,368 ​ Less accumulated depletion, depreciation, and amortization ​ ​ (3,327,629) ​ ​ — ​ ​ — ​ ​ — ​ ​ (3,327,629) ​ Property and equipment, net ​ ​ 9,978,739 ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,978,739 ​ Operating leases right-of-use assets ​ ​ 2,886,500 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,886,500 ​ Derivative instruments ​ ​ 333,174 ​ ​ — ​ ​ — ​ ​ — ​ ​ 333,174 ​ Investments in unconsolidated affiliates ​ ​ 243,048 ​ ​ 812,129 ​ ​ — ​ ​ — ​ ​ 1,055,177 ​ Investments in consolidated affiliates ​ ​ 812,129 ​ ​ — ​ ​ — ​ ​ (812,129) ​ ​ — ​ Other assets ​ ​ 21,094 ​ ​ — ​ ​ — ​ ​ — ​ ​ 21,094 ​ Total assets ​ $ 15,197,569 ​ ​ 1,111,579 ​ ​ — ​ ​ (1,111,579) ​ ​ 15,197,569 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 14,498 ​ ​ — ​ ​ — ​ ​ — ​ ​ 14,498 ​ Accounts payable, related parties ​ ​ 397,333 ​ ​ — ​ ​ — ​ ​ (299,450) ​ ​ 97,883 ​ Accrued liabilities ​ ​ 400,850 ​ ​ — ​ ​ — ​ ​ — ​ ​ 400,850 ​ Revenue distributions payable ​ ​ 207,988 ​ ​ — ​ ​ — ​ ​ — ​ ​ 207,988 ​ Derivative instruments ​ ​ 6,721 ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,721 ​ Short-term lease liabilities ​ ​ 305,320 ​ ​ — ​ ​ — ​ ​ — ​ ​ 305,320 ​ Other current liabilities ​ ​ 6,879 ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,879 ​ Total current liabilities ​ ​ 1,339,589 ​ ​ — ​ ​ — ​ ​ (299,450) ​ ​ 1,040,139 ​ Long-term liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ ​ 3,758,868 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,758,868 ​ Deferred income tax liability ​ ​ 781,987 ​ ​ — ​ ​ — ​ ​ — ​ ​ 781,987 ​ Derivative instruments ​ ​ 3,519 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,519 ​ Long-term lease liabilities ​ ​ 2,583,678 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,583,678 ​ Other liabilities ​ ​ 58,635 ​ ​ — ​ ​ — ​ ​ — ​ ​ 58,635 ​ Total liabilities ​ ​ 8,526,276 ​ ​ — ​ ​ — ​ ​ (299,450) ​ ​ 8,226,826 ​ Equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock ​ ​ 2,959 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,959 ​ Additional paid-in capital ​ ​ 5,600,714 ​ ​ 1,341,780 ​ ​ — ​ ​ (812,129) ​ ​ 6,130,365 ​ Accumulated earnings ​ ​ 1,067,620 ​ ​ (230,201) ​ ​ — ​ ​ — ​ ​ 837,419 ​ Total stockholders' equity ​ ​ 6,671,293 ​ ​ 1,111,579 ​ ​ — ​ ​ (812,129) ​ ​ 6,970,743 ​ Total liabilities and equity ​ $ 15,197,569 ​ ​ 1,111,579 ​ ​ — ​ ​ (1,111,579) ​ ​ 15,197,569 ​ ​ Condensed Consolidating Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable ​ $ 91,944 ​ ​ — ​ ​ — ​ ​ — ​ ​ 91,944 ​ Accounts receivable, related parties ​ ​ — ​ ​ 332,353 ​ ​ — ​ ​ (332,353) ​ ​ — ​ Accrued revenue ​ ​ 201,320 ​ ​ — ​ ​ — ​ ​ — ​ ​ 201,320 ​ Derivative instruments ​ ​ 816,444 ​ ​ — ​ ​ — ​ ​ — ​ ​ 816,444 ​ Other current assets ​ ​ 10,313 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,313 ​ Total current assets ​ ​ 1,120,021 ​ ​ 332,353 ​ ​ — ​ ​ (332,353) ​ ​ 1,120,021 ​ Property and equipment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas properties, at cost (successful efforts method): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unproved properties ​ ​ 1,289,770 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,289,770 ​ Proved properties ​ ​ 12,154,162 ​ ​ — ​ ​ — ​ ​ — ​ ​ 12,154,162 ​ Gathering systems and facilities ​ ​ 5,802 ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,802 ​ Other property and equipment ​ ​ 72,312 ​ ​ — ​ ​ — ​ ​ — ​ ​ 72,312 ​ ​ ​ ​ 13,522,046 ​ ​ — ​ ​ — ​ ​ — ​ ​ 13,522,046 ​ Less accumulated depletion, depreciation, and amortization ​ ​ (3,527,306) ​ ​ — ​ ​ — ​ ​ — ​ ​ (3,527,306) ​ Property and equipment, net ​ ​ 9,994,740 ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,994,740 ​ Operating leases right-of-use assets ​ ​ 2,814,539 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,814,539 ​ Derivative instruments ​ ​ 284,461 ​ ​ — ​ ​ — ​ ​ — ​ ​ 284,461 ​ Investments in unconsolidated affiliates ​ ​ 67,289 ​ ​ 224,700 ​ ​ — ​ ​ — ​ ​ 291,989 ​ Investments in consolidated affiliates ​ ​ 224,700 ​ ​ — ​ ​ — ​ ​ (224,700) ​ ​ — ​ Other assets ​ ​ 20,039 ​ ​ — ​ ​ — ​ ​ — ​ ​ 20,039 ​ Total assets ​ $ 14,525,789 ​ ​ 557,053 ​ ​ — ​ ​ (557,053) ​ ​ 14,525,789 ​ Liabilities and Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 37,909 ​ ​ — ​ ​ — ​ ​ — ​ ​ 37,909 ​ Accounts payable, related parties ​ ​ 421,247 ​ ​ — ​ ​ — ​ ​ (332,353) ​ ​ 88,894 ​ Accrued liabilities ​ ​ 367,444 ​ ​ — ​ ​ — ​ ​ — ​ ​ 367,444 ​ Revenue distributions payable ​ ​ 174,654 ​ ​ — ​ ​ — ​ ​ — ​ ​ 174,654 ​ Short-term lease liabilities ​ ​ 295,658 ​ ​ — ​ ​ — ​ ​ — ​ ​ 295,658 ​ Other current liabilities ​ ​ 7,315 ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,315 ​ Total current liabilities ​ ​ 1,304,227 ​ ​ — ​ ​ — ​ ​ (332,353) ​ ​ 971,874 ​ Long-term liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ Long-term debt ​ ​ 3,707,787 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,707,787 ​ Deferred income tax liability ​ ​ 672,002 ​ ​ — ​ ​ — ​ ​ — ​ ​ 672,002 ​ Derivative instruments ​ ​ 215 ​ ​ — ​ ​ — ​ ​ — ​ ​ 215 ​ Long-term lease liabilities ​ ​ 2,520,939 ​ ​ ​ ​ ​ — ​ ​ — ​ ​ 2,520,939 ​ Other liabilities ​ ​ 60,432 ​ ​ — ​ ​ — ​ ​ — ​ ​ 60,432 ​ Total liabilities ​ ​ 8,265,602 ​ ​ — ​ ​ — ​ ​ (332,353) ​ ​ 7,933,249 ​ Equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ Common stock ​ ​ 2,689 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,689 ​ Additional paid-in capital ​ ​ 4,974,162 ​ ​ 1,341,780 ​ ​ — ​ ​ (224,700) ​ ​ 6,091,242 ​ Accumulated earnings ​ ​ 1,283,336 ​ ​ (784,727) ​ ​ — ​ ​ — ​ ​ 498,609 ​ Total stockholders' equity ​ ​ 6,260,187 ​ ​ 557,053 ​ ​ — ​ ​ (224,700) ​ ​ 6,592,540 ​ Total liabilities and equity ​ $ 14,525,789 ​ ​ 557,053 ​ ​ — ​ ​ (557,053) ​ ​ 14,525,789 ​ ​ ​ Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Revenue and other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 657,266 ​ ​ — ​ ​ — ​ ​ — ​ ​ 657,266 ​ Natural gas liquids sales ​ ​ 313,685 ​ ​ — ​ ​ — ​ ​ — ​ ​ 313,685 ​ Oil sales ​ ​ 48,052 ​ ​ — ​ ​ — ​ ​ — ​ ​ 48,052 ​ Commodity derivative fair value losses ​ ​ (77,368) ​ ​ — ​ ​ — ​ ​ — ​ ​ (77,368) ​ Gathering, compression, water handling and treatment ​ ​ — ​ ​ — ​ ​ 218,360 ​ ​ (213,881) ​ ​ 4,479 ​ Marketing ​ ​ 91,186 ​ ​ — ​ ​ — ​ ​ — ​ ​ 91,186 ​ Other income ​ ​ 1,758 ​ ​ — ​ ​ — ​ ​ (1,651) ​ ​ 107 ​ Total revenue and other ​ ​ 1,034,579 ​ ​ — ​ ​ 218,360 ​ ​ (215,532) ​ ​ 1,037,407 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 42,969 ​ ​ — ​ ​ 64,818 ​ ​ (66,055) ​ ​ 41,732 ​ Gathering, compression, processing, and transportation ​ ​ 535,015 ​ ​ — ​ ​ — ​ ​ (110,486) ​ ​ 424,529 ​ Production and ad valorem taxes ​ ​ 34,738 ​ ​ — ​ ​ — ​ ​ 940 ​ ​ 35,678 ​ Marketing ​ ​ 163,084 ​ ​ — ​ ​ — ​ ​ — ​ ​ 163,084 ​ Exploration ​ ​ 126 ​ ​ — ​ ​ — ​ ​ — ​ ​ 126 ​ Impairment of oil and gas properties ​ ​ 81,244 ​ ​ — ​ ​ — ​ ​ — ​ ​ 81,244 ​ Impairment of midstream assets ​ ​ — ​ ​ — ​ ​ 6,982 ​ ​ — ​ ​ 6,982 ​ Depletion, depreciation, and amortization ​ ​ 218,494 ​ ​ — ​ ​ 21,707 ​ ​ — ​ ​ 240,201 ​ Accretion of asset retirement obligations ​ ​ 913 ​ ​ — ​ ​ 63 ​ ​ — ​ ​ 976 ​ General and administrative ​ ​ 49,908 ​ ​ — ​ ​ 18,793 ​ ​ (499) ​ ​ 68,202 ​ Contract termination and rig stacking ​ ​ 8,360 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8,360 ​ Accretion of contingent acquisition consideration ​ ​ — ​ ​ — ​ ​ 1,928 ​ ​ (1,928) ​ ​ — ​ Total operating expenses ​ ​ 1,134,851 ​ ​ — ​ ​ 114,291 ​ ​ (178,028) ​ ​ 1,071,114 ​ Operating income (loss) ​ ​ (100,272) ​ ​ — ​ ​ 104,069 ​ ​ (37,504) ​ ​ (33,707) ​ Other income (expenses): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ ​ 589 ​ ​ 1,228 ​ ​ 12,264 ​ ​ — ​ ​ 14,081 ​ Equity in earnings of affiliates ​ ​ 15,021 ​ ​ — ​ ​ — ​ ​ (15,021) ​ ​ — ​ Interest expense, net ​ ​ (55,135) ​ ​ — ​ ​ (16,815) ​ ​ — ​ ​ (71,950) ​ Gain on deconsolidation of Antero Midstream Partners LP ​ ​ 1,205,705 ​ ​ 200,337 ​ ​ — ​ ​ — ​ ​ 1,406,042 ​ Total other expenses ​ ​ 1,166,180 ​ ​ 201,565 ​ ​ (4,551) ​ ​ (15,021) ​ ​ 1,348,173 ​ Income before income taxes ​ ​ 1,065,908 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (52,525) ​ ​ 1,314,466 ​ Provision for income tax expense ​ ​ (288,710) ​ ​ — ​ ​ — ​ ​ — ​ ​ (288,710) ​ Net income and comprehensive income including noncontrolling interests ​ ​ 777,198 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (52,525) ​ ​ 1,025,756 ​ Net income and comprehensive income attributable to noncontrolling interests ​ ​ — ​ ​ — ​ ​ — ​ ​ 46,993 ​ ​ 46,993 ​ Net income and comprehensive income attributable to Antero Resources Corporation ​ $ 777,198 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (99,518) ​ ​ 978,763 ​ ​ ​ Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Revenue and other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 411,082 ​ ​ — ​ ​ — ​ ​ — ​ ​ 411,082 ​ Natural gas liquids sales ​ 257,673 ​ ​ — ​ ​ — ​ ​ — ​ ​ 257,673 ​ Oil sales ​ ​ 35,646 ​ ​ — ​ ​ — ​ ​ — ​ ​ 35,646 ​ Commodity derivative fair value gains ​ ​ 565,833 ​ ​ — ​ ​ — ​ ​ — ​ ​ 565,833 ​ Marketing ​ ​ 46,073 ​ ​ — ​ ​ — ​ ​ — ​ ​ 46,073 ​ Other income ​ ​ 798 ​ ​ — ​ ​ — ​ ​ — ​ ​ 798 ​ Total revenue and other ​ ​ 1,317,105 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,317,105 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 25,644 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25,644 ​ Gathering, compression, processing, and transportation ​ ​ 588,624 ​ ​ — ​ ​ — ​ ​ — ​ ​ 588,624 ​ Production and ad valorem taxes ​ ​ 25,699 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25,699 ​ Marketing ​ ​ 93,273 ​ ​ — ​ ​ — ​ ​ — ​ ​ 93,273 ​ Exploration ​ ​ 210 ​ ​ — ​ ​ — ​ ​ — ​ ​ 210 ​ Impairment of oil and gas properties ​ ​ 89,220 ​ ​ — ​ ​ — ​ ​ — ​ ​ 89,220 ​ Depletion, depreciation, and amortization ​ ​ 199,677 ​ ​ — ​ ​ — ​ ​ — ​ ​ 199,677 ​ Accretion of asset retirement obligations ​ ​ 1,104 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,104 ​ General and administrative ​ ​ 31,221 ​ ​ — ​ ​ — ​ ​ — ​ ​ 31,221 ​ Total operating expenses ​ ​ 1,054,672 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,054,672 ​ Operating income ​ ​ 262,433 ​ ​ — ​ ​ — ​ ​ — ​ ​ 262,433 ​ Other income (expenses): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliate ​ ​ (40,312) ​ ​ (87,743) ​ ​ — ​ ​ — ​ ​ (128,055) ​ Impairment of equity investment ​ ​ (143,849) ​ ​ (466,783) ​ ​ — ​ ​ — ​ ​ (610,632) ​ Interest expense, net ​ ​ (53,102) ​ ​ — ​ ​ — ​ ​ — ​ ​ (53,102) ​ Gain on early extinguishment of debt ​ ​ 80,561 ​ ​ — ​ ​ — ​ ​ — ​ ​ 80,561 ​ Total other expenses ​ ​ (156,702) ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (711,228) ​ Income (loss) before income taxes ​ ​ 105,731 ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (448,795) ​ Provision for income tax benefit ​ ​ 109,985 ​ ​ — ​ ​ — ​ ​ — ​ ​ 109,985 ​ Net income (loss) and comprehensive income (loss) ​ $ 215,716 ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (338,810) ​ ​ ​ Condensed Consolidating Statement of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Cash flows provided by (used in) operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income including noncontrolling interests ​ $ 777,198 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (52,525) ​ ​ 1,025,756 ​ Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depletion, depreciation, amortization, and accretion ​ ​ 219,407 ​ ​ — ​ ​ 21,770 ​ ​ — ​ ​ 241,177 ​ Impairments ​ ​ 81,244 ​ ​ — ​ ​ 6,982 ​ ​ — ​ ​ 88,226 ​ Commodity derivative fair value losses ​ ​ 77,368 ​ ​ — ​ ​ — ​ ​ — ​ ​ 77,368 ​ Gains on settled commodity derivatives ​ ​ 97,092 ​ ​ — ​ ​ — ​ ​ — ​ ​ 97,092 ​ Deferred income tax expense ​ ​ 287,854 ​ ​ — ​ ​ — ​ ​ — ​ ​ 287,854 ​ Equity-based compensation expense ​ ​ 6,426 ​ ​ — ​ ​ 2,477 ​ ​ — ​ ​ 8,903 ​ Equity in earnings of consolidated subsidiaries ​ ​ (15,021) ​ ​ — ​ ​ — ​ ​ 15,021 ​ ​ — ​ Equity in earnings of unconsolidated affiliates ​ ​ (589) ​ ​ (1,228) ​ ​ (12,264) ​ ​ — ​ ​ (14,081) ​ Distributions of earnings from unconsolidated affiliates ​ ​ — ​ ​ — ​ ​ 12,605 ​ ​ — ​ ​ 12,605 ​ Gain on deconsolidation of Antero Midstream Partners LP ​ ​ (1,205,705) ​ ​ (200,337) ​ ​ — ​ ​ — ​ ​ (1,406,042) ​ Distributions from Antero Midstream Partners LP ​ ​ 46,469 ​ ​ — ​ ​ — ​ ​ (46,469) ​ ​ — ​ Other ​ ​ 10,331 ​ ​ — ​ ​ 750 ​ ​ — ​ ​ 11,081 ​ Changes in current assets and liabilities ​ ​ 102,830 ​ ​ — ​ ​ (10,573) ​ ​ 16,808 ​ ​ 109,065 ​ Net cash provided by operating activities ​ ​ 484,904 ​ ​ — ​ ​ 121,265 ​ ​ (67,165) ​ ​ 539,004 ​ Cash flows provided by (used in) investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions to unproved properties ​ ​ (27,463) ​ ​ — ​ ​ — ​ ​ — ​ ​ (27,463) ​ Drilling and completion costs ​ ​ (389,252) ​ ​ — ​ ​ — ​ ​ 20,565 ​ ​ (368,687) ​ Additions to water handling and treatment systems ​ ​ — ​ ​ — ​ ​ (24,547) ​ ​ 131 ​ ​ (24,416) ​ Additions to gathering systems and facilities ​ ​ — ​ ​ — ​ ​ (48,239) ​ ​ — ​ ​ (48,239) ​ Additions to other property and equipment ​ ​ (2,066) ​ ​ — ​ ​ (1,062) ​ ​ — ​ ​ (3,128) ​ Investments in unconsolidated affiliates ​ ​ — ​ ​ — ​ ​ (25,020) ​ ​ — ​ ​ (25,020) ​ Proceeds from the Antero Midstream Partners LP Transactions ​ ​ 296,611 ​ ​ — ​ ​ — ​ ​ — ​ ​ 296,611 ​ Change in other assets ​ ​ (1,118) ​ ​ — ​ ​ (3,357) ​ ​ — ​ ​ (4,475) ​ Net cash used in investing activities ​ ​ (123,288) ​ ​ — ​ ​ (102,225) ​ ​ 20,696 ​ ​ (204,817) ​ Cash flows provided by (used in) financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Issuance of senior notes ​ ​ — ​ ​ — ​ ​ 650,000 ​ ​ — ​ ​ 650,000 ​ Borrowings (repayments) on bank credit facility, net ​ ​ (360,379) ​ ​ — ​ ​ 90,379 ​ ​ — ​ ​ (270,000) ​ Payments of deferred financing costs ​ ​ (791) ​ ​ — ​ ​ (7,468) ​ ​ — ​ ​ (8,259) ​ Distributions to noncontrolling interests in Antero Midstream Partners LP ​ ​ — ​ ​ — ​ ​ (131,545) ​ ​ 46,469 ​ ​ (85,076) ​ Employee tax withholding for settlement of equity compensation awards ​ ​ (450) ​ ​ — ​ ​ (29) ​ ​ — ​ ​ (479) ​ Other ​ ​ 4 ​ ​ — ​ ​ (845) ​ ​ — ​ ​ (841) ​ Net cash provided by (used in) financing activities ​ ​ (361,616) ​ ​ — ​ ​ 600,492 ​ ​ 46,469 ​ ​ 285,345 ​ Effect of deconsolidation of Antero Midstream Partners LP ​ ​ — ​ ​ — ​ ​ (619,532) ​ ​ — ​ ​ (619,532) ​ Net increase (decrease) in cash and cash equivalents ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, beginning of period ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, end of period ​ $ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2020 (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Cash flows provided by (used in) operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) including noncontrolling interests ​ $ 215,716 ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (338,810) ​ Adjustment to reconcile net income (loss) to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depletion, depreciation, amortization, and accretion ​ ​ 200,781 ​ ​ — ​ ​ — ​ ​ — ​ ​ 200,781 ​ Impairment of oil and gas properties ​ ​ 89,220 ​ ​ — ​ ​ — ​ ​ — ​ ​ 89,220 ​ Commodity derivative fair value gains ​ ​ (565,833) ​ ​ — ​ ​ — ​ ​ — ​ ​ (565,833) ​ Gains on settled commodity derivatives ​ ​ 210,926 ​ ​ — ​ ​ — ​ ​ — ​ ​ 210,926 ​ Equity-based compensation expense ​ ​ 3,329 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,329 ​ Deferred income tax benefit ​ ​ (109,985) ​ ​ — ​ ​ — ​ ​ — ​ ​ (109,985) ​ Gain on early extinguishment of debt ​ ​ (80,561) ​ ​ — ​ ​ — ​ ​ — ​ ​ (80,561) ​ Equity in loss of unconsolidated affiliates ​ ​ 40,312 ​ ​ 87,743 ​ ​ — ​ ​ — ​ ​ 128,055 ​ Impairment of equity investment ​ ​ 143,849 ​ ​ 466,783 ​ ​ — ​ ​ — ​ ​ 610,632 ​ Distributions/dividends of earnings from unconsolidated affiliates ​ ​ 42,756 ​ ​ — ​ ​ — ​ ​ — ​ ​ 42,756 ​ Other ​ ​ 2,440 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,440 ​ Changes in current assets and liabilities ​ ​ 7,727 ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,727 ​ Net cash provided by operating activities ​ ​ 200,677 ​ ​ — ​ ​ — ​ ​ — ​ ​ 200,677 ​ Cash flows provided by (used in) investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions to unproved properties ​ ​ (10,357) ​ ​ — ​ ​ — ​ ​ — ​ ​ (10,357) ​ Drilling and completion costs ​ ​ (300,483) ​ ​ — ​ ​ — ​ ​ — ​ ​ (300,483) ​ Additions to other property and equipment ​ ​ (771) ​ ​ — ​ ​ — ​ ​ — ​ ​ (771) ​ Settlement of water earnout ​ ​ 125,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ 125,000 ​ Change in other assets ​ ​ (70) ​ ​ — ​ ​ — ​ ​ — ​ ​ (70) ​ Net cash used in investing activities ​ ​ (186,681) ​ ​ — ​ ​ — ​ ​ — ​ ​ (186,681) ​ Cash flows provided by (used in) financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchases of common stock ​ ​ (42,690) ​ ​ — ​ ​ — ​ ​ — ​ ​ (42,690) ​ Repayment of senior notes ​ ​ (300,835) ​ ​ — ​ ​ — ​ ​ — ​ ​ (300,835) ​ Borrowings on bank credit facility, net ​ ​ 330,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ 330,000 ​ Employee tax withholding for settlement of equity compensation awards ​ ​ (32) ​ ​ — ​ ​ — ​ ​ — ​ ​ (32) ​ Other ​ ​ (439) ​ ​ — ​ ​ — ​ ​ — ​ ​ (439) ​ Net cash used in financing activities ​ ​ (13,996) ​ ​ — ​ ​ — ​ ​ — ​ ​ (13,996) ​ Net increase in cash and cash equivalents ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, beginning of period ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, end of period ​ $ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Basis of Presentation	(a) Basis of Presentation These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial information and should be read in the context of the Company’s December 31, 2019 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The Company’s December 31, 2019 consolidated financial statements were included in Antero Resources’ 2019 Annual Report on Form 10-K, which was filed with the SEC. These 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, these 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, 2019 and March 31, 2020, and the results of its operations and its cash flows for the three months ended March 31, 2019 and 2020. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is equal to its comprehensive income or loss. Operating results for the period ended March 31, 2020 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, the impacts of COVID-19 and other factors.
Principles of Consolidation	(b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Antero Resources Corporation, 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. Through March 12, 2019, Antero Midstream Partners LP (“Antero Midstream Partners”), a publicly traded limited partnership, was included in the consolidated financial statements of Antero. Prior to the Closing (defined in Note 3 to the unaudited condensed consolidated financial statements), our ownership of Antero Midstream Partners common units represented approximately a 53 % limited partner interest in Antero Midstream Partners, and we consolidated Antero Midstream Partners’ financial position and results of operations into our consolidated financial statements. The Transactions (defined in Note 3 to the unaudited condensed consolidated financial statements) resulted in the exchange of the limited partner interest we owned in Antero Midstream Partners for common stock of Antero Midstream Corporation, par value $0.01 per share (the “Antero Midstream Corporation common stock”), representing an approximate 31 % interest in Antero Midstream Corporation. As a result, our controlling interest in Antero Midstream Partners was converted to an interest in Antero Midstream Corporation that provides significant influence, but not control, over Antero Midstream Corporation. Thus, effective March 13, 2019, Antero no longer consolidates Antero Midstream Partners in its consolidated financial statements and accounts for its interest in Antero Midstream Corporation using the equity method of accounting. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements. The noncontrolling interest in the Company’s unaudited condensed consolidated financial statements for the three months ended March 31, 2019 represents the interests in Antero Midstream Partners that were owned by the public prior to the Transactions, and the incentive distribution rights in Antero Midstream Partners. Investments in entities for which the Company exercises significant influence, but not control, are accounted for under the equity method. The Company’s judgment regarding the level of influence over its equity investments includes considering key factors such as Antero’s ownership interest, representation on the board of directors and participation in the policy-making decisions of equity method investees. Such investments are included in Investment in unconsolidated affiliate on the Company’s unaudited condensed consolidated balance sheets. Income (loss) from investees that are accounted for under the equity method is included in Equity in earnings (loss) of unconsolidated affiliates on the Company’s unaudited condensed consolidated statements of operations and cash flows. When Antero records its proportionate share of net income or net loss, it is recorded in equity in earnings (loss) of unconsolidated affiliates in the statements of operations and the carrying value of that investment on the Company’s balance sheet. When a distribution is received, it is recorded as a reduction to the carrying value of that investment on the Company’s balance sheet. The Company’s equity in earnings of unconsolidated affiliates is adjusted for intercompany transactions and the basis differences recognized due to the difference between the cost of the equity investment in Antero
Use of Estimates	(c) Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect revenues, expenses, assets, 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 unaudited 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 unaudited condensed consolidated financial statements that involve the use of significant estimates include derivative assets and liabilities, accrued revenue, deferred and current income taxes, equity-based compensation, asset retirement obligations, depreciation, amortization, and commitments and contingencies.
Risks and Uncertainties	(d) Risks and Uncertainties The markets for natural gas, NGLs, and oil have, and continue to, experience significant price fluctuations. Price fluctuations can result from variations in weather, levels of production, availability of storage capacity and transportation to other regions of the country, the level of imports to and exports from the United States, 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.
Cash and Cash Equivalents	(e) Cash and Cash Equivalents The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments. 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 in accounts payable and revenue distributions payable within its unaudited condensed consolidated balance sheets, and classifies the change in accounts payable and revenue distributions payable associated with book overdrafts as an operating activity within its unaudited condensed consolidated statements of cash flows. As of December 31, 2019, the book overdraft included within accounts payable and revenue distributions payable were $7 million and $18 million, respectively. As of March 31, 2020, the book overdraft included within accounts payable and revenue distributions payable were $5 million and $21 million, respectively.
Oil and Gas Properties	(f) Oil and Gas Properties The Company accounts for its natural gas, NGLs, and oil exploration and development activities under the successful efforts method of accounting. Under the successful efforts method, the costs incurred to acquire, drill, and complete productive wells, development wells, and undeveloped leases are capitalized. Oil and gas lease acquisition costs are also capitalized. Exploration costs, including personnel and other internal costs, geological and geophysical expenses, delay rentals for gas and oil leases, and costs associated with unsuccessful lease acquisitions are charged to expense as incurred. Exploratory drilling costs are initially capitalized, but charged to expense if the Company determines that the well does not contain reserves in commercially viable quantities. The Company reviews exploration costs related to wells-in- progress at the end of each quarter and makes a determination, based on known results of drilling at that time, whether the costs should continue to be capitalized pending further well testing and results, or charged to expense. The Company incurred no such charges to expense during the three months ended March 31, 2019 and 2020. The sale of a partial interest in a proved property is accounted for as a cost recovery, and no gain or loss is recognized as long as this treatment does not significantly affect the units-of- production amortization rate. A gain or loss is recognized for all other sales of producing properties. Unproved properties are assessed for impairment on a property-by- property basis, and any impairment in value is charged to expense. Impairment is assessed based on remaining lease terms, commodity price outlooks, and future plans to develop acreage, as well as drilling results, and reservoir performance of wells in the area. Unproved properties and the related costs are transferred to proved properties when reserves are discovered on, or otherwise attributed to, the property. Proceeds from sales of partial interests in unproved properties are accounted for as a recovery of cost without recognition of any gain or loss until the cost has been recovered. Impairment of oil and gas properties was $81 million and $89 million for the three months ended March 31, 2019 and 2020, respectively. The Company evaluates the carrying amount of its proved natural gas, NGLs, and oil properties for impairment on a geological reservoir basis whenever events or changes in circumstances indicate that a property’s carrying amount may not be recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company would estimate the fair value of its properties and record an impairment charge for any excess of the carrying amount of the properties over the estimated fair value of the properties. Factors used to estimate fair value may include estimates of proved reserves, estimated future commodity prices, future production estimates, and anticipated capital expenditures, using a commensurate discount rate.
Derivative Financial Instruments	(g) Derivative Financial Instruments In order to manage its exposure to natural gas, NGLs, and oil price volatility, the Company enters into derivative transactions from time to time, 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 positions. The Company records derivative instruments on the unaudited 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 unaudited condensed consolidated statements of operations. The Company’s derivatives have not been designated as hedges for accounting purposes.
Asset Retirement Obligations	(h) Asset Retirement Obligations The Company is obligated to dispose of certain long- lived assets upon their abandonment. The Company’s asset retirement obligations (“AROs”) relate primarily to its obligation to plug and abandon oil and gas wells at the end of their lives. AROs are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations, which is then discounted at the Company’s credit-adjusted, risk- free interest rate. Revisions to estimated AROs often result from changes in retirement cost estimates or changes in the estimated timing of abandonment. The fair value of the liability is added to the carrying amount of the associated asset, and this additional carrying amount is depreciated over the life of the asset. The liability is accreted at the end of each period through charges to operating expense.
Natural Gas, NGLs, and Oil Revenues	(i) Natural Gas, NGLs, and Oil Revenues Our revenues are primarily derived from the sale of natural gas and oil production, as well as the sale of NGLs that are extracted from our natural gas. Sales of natural gas, NGLs, and oil are recognized when we satisfy a performance obligation by transferring control of a product to a customer. Payment is generally received in the month following the sale. Under our natural gas sales contracts, we deliver natural gas to the purchaser at an agreed upon delivery point. Natural gas is transported from our wellheads to delivery points specified under sales contracts. To deliver natural gas to these points, Antero Midstream or other third parties gather, compress, process and transport our natural gas. We maintain control of the natural gas during gathering, compression, processing, and transportation. Our sales contracts provide that we receive a specific index price adjusted for pricing differentials. We transfer control of the product at the delivery point and recognize revenue based on the contract price. The costs incurred to gather, compress, process and transport natural gas are recorded as Gathering, compression, processing and transportation expense. NGLs, which are extracted from natural gas through processing, are either sold by us directly or by the processor under processing contracts. For NGLs sold by us directly, our sales contracts provide that we deliver the product to the purchaser at an agreed upon delivery point and that we receive a specific index price adjusted for pricing differentials. We transfer control of the product to the purchaser at the delivery point and recognize revenue based on the contract price. The costs incurred to process and transport NGLs are recorded as Gathering, compression, processing, and transportation expense. For NGLs sold by the processor, our processing contracts provide that we transfer control to the processor at the tailgate of the processing plant and we recognize revenue based on the price received from the processor. Under our oil sales contracts, we generally sell oil to purchasers and collect a contractually agreed upon index price, net of pricing differentials. We recognize revenue based on the contract price when we transfer control of the product to a purchaser. When applicable, the costs incurred to transport oil to a purchaser are recorded as Gathering, compression, processing and transportation expense.
Marketing Revenues and Expenses	(j) Marketing Revenues and Expenses Marketing revenues are derived from activities to purchase and sell third-party natural gas and NGLs and to market excess firm transportation capacity to third parties. We retain control of the purchased natural gas and NGLs prior to delivery to the purchaser. We have concluded that we are the principal in these arrangements and therefore we recognize revenue on a gross basis, with costs to purchase and transport natural gas and NGLs presented as marketing expenses. Contracts to sell third party gas and NGLs are generally subject to similar terms as contracts to sell our produced natural gas and NGLs. We satisfy performance obligations to the purchaser by transferring control of the product at the delivery point and recognize revenue based on the contract price received from the purchaser. Fees generated from the sale of excess firm transportation marketed to third parties are included in Marketing revenue. Marketing expenses include the cost of purchased third-party natural gas and NGLs. The Company classifies firm transportation costs related to capacity contracted for in advance of having sufficient production and infrastructure to fully utilize the capacity (excess capacity) as marketing expenses since it is marketing this excess capacity to third parties. Firm transportation for which the Company has sufficient production capacity (even though it may not use the transportation capacity because of alternative delivery points with more favorable pricing) is considered unutilized capacity and is charged to transportation expense.
Gathering compression, water handling and treatment revenue	(k) Gathering, compression water handling and treatment revenue Substantially all revenues from the gathering, compression, water handling and treatment operations were derived from transactions for services Antero Midstream Partners provided to our exploration and production operations through March 12, 2019 and were eliminated in consolidation. Effective March 13, 2019, Antero Midstream Partners is no longer consolidated in Antero’s results. See Note 3 to the financial statements for further discussion on the Transactions and Note 17 to the consolidated financial statements for disclosures on the Company’s reportable segments. The portion of such fees shown in our consolidated financial statements prior to March 13, 2019 represent amounts charged to interest owners in Antero-operated wells, as well as fees charged to other third parties for water handling and treatment services provided by Antero Midstream Partners or usage of Antero Midstream Partners’ gathering and compression systems. For gathering and compression revenue, Antero Midstream Partners satisfied its performance obligations and recognized revenue when low pressure volumes were delivered to a compressor station, high pressure volumes were delivered to a processing plant or transmission pipeline, and compression volumes were delivered to a high pressure line. Revenue was recognized based on the per Mcf gathering or compression fee charged by Antero Midstream Partners in accordance with the gathering and compression agreement. For water handling and treatment revenue, Antero Midstream Partners satisfied its performance obligations and recognized revenue when the fresh water volumes were delivered to the hydration unit of a specified well pad and the wastewater volumes were delivered to its wastewater treatment facility. For services contracted through third-party providers, Antero Midstream Partners’ performance obligation was satisfied when the services performed by the third-party providers were completed. Revenue was recognized based on the per barrel fresh water delivery or wastewater treatment fee charged by Antero Midstream Partners in accordance with the water services agreement.
Industry Segments and Geographic Information	(l) Industry Segments and Geographic Information Management has evaluated how the Company is organized and managed and has identified the following segments: (1) the exploration, development, and production of natural gas, NGLs, and oil; (2) marketing and utilization of excess firm transportation capacity; and (3) our equity method investment in Antero Midstream Corporation. Through March 12, 2019, the results of Antero Midstream Partners were included in the consolidated financial statements of Antero. Effective March 13, 2019, the results of Antero Midstream Partners are no longer consolidated in Antero’s results; however, the Company’s segment disclosures include our equity method investment in Antero Midstream Corporation due to its significance to the Company’s operations. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions and Note 17 to the unaudited condensed consolidated financial statements for disclosures on the Company’s reportable segments. 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; however, some of the Company’s production revenues are attributable to customers who then transport the Company’s production to foreign countries for resale or consumption.
Earnings (loss) Per Common Share	(m) Earnings (loss) Per Common Share 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 the 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 anti-dilutive. 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 March 31, ​ ​ 2019 2020 ​ Basic weighted average number of shares outstanding ​ 308,694 ​ 284,227 ​ Add: Dilutive effect of restricted stock units ​ 80 ​ — ​ Add: Dilutive effect of outstanding stock options ​ — ​ — ​ Add: Dilutive effect of performance stock units ​ 14 ​ — ​ Diluted weighted average number of shares outstanding ​ 308,788 ​ 284,227 ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1) ​ ​ ​ ​ ​ Restricted stock units ​ 1,445 ​ 5,952 ​ Outstanding stock options ​ 570 ​ 459 ​ Performance stock units ​ 1,721 ​ 1,621 ​ (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.
Treasury Share Retirement	(n) Treasury Share Retirement The Company retires treasury shares acquired through share repurchases and returns those shares to the status of authorized but unissued. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired first, to additional paid-in capital, and then to accumulated earnings. The portion allocable to additional paid-in capital is determined by applying a percentage, determined by dividing the number of shares to be retired by the number of shares outstanding, to the balance of additional paid-in capital as of retirement.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, ​ ​ 2019 2020 ​ Basic weighted average number of shares outstanding ​ 308,694 ​ 284,227 ​ Add: Dilutive effect of restricted stock units ​ 80 ​ — ​ Add: Dilutive effect of outstanding stock options ​ — ​ — ​ Add: Dilutive effect of performance stock units ​ 14 ​ — ​ Diluted weighted average number of shares outstanding ​ 308,788 ​ 284,227 ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1) ​ ​ ​ ​ ​ Restricted stock units ​ 1,445 ​ 5,952 ​ Outstanding stock options ​ 570 ​ 459 ​ Performance stock units ​ 1,721 ​ 1,621 ​ (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.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue
Schedule of disaggregation of revenue	Revenue is disaggregated by type in the following table. The table also identifies which reportable segment that the disaggregated revenues relate. For more information on reportable segments, see Note 17— Segment Information. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ Segment to which ​ (in thousands) 2019 2020 revenues relate Revenues from contracts with customers: ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 657,266 ​ ​ 411,082 ​ Exploration and production ​ Natural gas liquids sales (ethane) ​ ​ 35,516 ​ ​ 26,796 ​ Exploration and production ​ Natural gas liquids sales (C3+ NGLs) ​ ​ 278,169 ​ ​ 230,877 ​ Exploration and production ​ Oil sales ​ ​ 48,052 ​ ​ 35,646 ​ Exploration and production ​ Gathering and compression (1) ​ ​ 3,972 ​ — ​ Equity method investment in AMC ​ Water handling and treatment (1) ​ ​ 507 ​ ​ — ​ Equity method investment in AMC ​ Marketing ​ ​ 91,186 ​ ​ 46,073 ​ Marketing ​ Total revenue from contracts with customers ​ ​ 1,114,668 ​ 750,474 ​ ​ ​ Income (loss) from derivatives and other sources: ​ ​ (77,261) ​ ​ 566,631 ​ ​ ​ Total revenue and other ​ $ 1,037,407 ​ ​ 1,317,105 ​ ​ ​ (1) Gathering and compression and water handling and treatment revenues were included through March 12, 2019. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions.

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments.
Schedule of reconciliation of investments in unconsolidated affiliates	The following table is a reconciliation of investments in unconsolidated affiliates for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ Antero Midstream ​ ​ Corporation ​ Balance at December 31, 2019 ​ $ 1,055,177 ​ Equity in loss of unconsolidated affiliates ​ ​ (128,055) ​ Distributions/dividends from unconsolidated affiliates ​ ​ (42,756) ​ Impairment (1) ​ ​ (610,632) ​ Elimination of intercompany profit ​ ​ 18,255 ​ Balance at March 31, 2020 ​ $ 291,989 ​ (1) Other-than-temporary impairment in Antero Midstream Corporation recorded as of March 31, 2020 to reduce the carrying value to fair value.
Schedule of summarized financial information of Antero Midstream Corporation	Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ (in thousands) 2019 2020 ​ Current assets ​ $ 108,558 ​ ​ 151,372 ​ Noncurrent assets ​ ​ 6,174,320 ​ ​ 5,629,987 ​ Total assets ​ $ 6,282,878 ​ ​ 5,781,359 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ $ 242,084 ​ ​ 83,560 ​ Noncurrent liabilities ​ ​ 2,897,380 ​ ​ 3,108,844 ​ Stockholders' equity ​ ​ 3,143,414 ​ ​ 2,588,955 ​ Total liabilities and equity ​ $ 6,282,878 ​ ​ 5,781,359 ​ ​ Statement of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the period ​ ​ ​ ​ ​ March 13, 2019 ​ Three months ​ ​ ​ through ​ ended ​ (in thousands) March 31, 2019 March 31, 2020 ​ Revenues ​ $ 54,108 ​ ​ 243,708 ​ Operating expenses ​ ​ 30,029 ​ ​ 762,872 ​ Income (loss) from operations ​ $ 24,079 ​ ​ (519,164) ​ Net income (loss) attributable to the equity method investment ​ $ 23,197 ​ ​ (392,933) ​

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ ​ 2019 2020 ​ Capital expenditures ​ $ 105,706 ​ 85,363 ​ Gathering, compression, processing, and transportation expenses ​ ​ 134,153 ​ ​ 154,039 ​ Marketing expenses ​ ​ 52,612 ​ ​ 28,014 ​ Interest expense, net ​ 30,834 ​ 51,281 ​ Other ​ 77,545 ​ 48,747 ​ Total accrued liabilities ​ $ 400,850 ​ 367,444 ​

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Long-Term Debt.
Schedule of long-term debt	Long-term debt as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ ​ 2019 2020 ​ Credit Facility (a) ​ $ 552,000 ​ ​ 882,000 ​ 5.375% senior notes due 2021 (b) ​ ​ 952,500 ​ ​ 730,283 ​ 5.125% senior notes due 2022 (c) ​ ​ 923,041 ​ ​ 761,337 ​ 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 ​ ​ 791 ​ ​ 600 ​ Net unamortized debt issuance costs ​ ​ (19,464) ​ ​ (16,433) ​ Long-term debt ​ $ 3,758,868 ​ ​ 3,707,787 ​

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligations
Schedule of reconciliation of asset retirement obligations	The following is a reconciliation of the Company’s asset retirement obligations for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ Asset retirement obligations—December 31, 2019 $ 54,845 ​ Obligations incurred ​ 773 ​ Accretion expense ​ ​ 1,104 ​ Asset retirement obligations—March 31, 2020 ​ $ 56,722 ​

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ 2019 2020 ​ Restricted stock unit awards ​ $ 3,972 ​ ​ 1,878 ​ Stock options ​ ​ 344 ​ ​ — ​ Performance share unit awards ​ ​ 2,959 ​ ​ 922 ​ Antero Midstream Partners phantom unit awards (1) ​ ​ 1,125 ​ ​ 160 ​ Equity awards issued to directors ​ ​ 503 ​ ​ 369 ​ Total expense ​ $ 8,903 ​ ​ 3,329 ​ (1) Partners to Antero Resources. Antero Resources allocates a portion of equity-based compensation expense related to grants prior to the Transactions to Antero Partners based on its proportionate share of Antero Resources’ labor costs. Through March 12, 2019, the total amount of equity-based compensation is included in the consolidated financial statements of Antero Resources; and effective March 13, 2019 (date of deconsolidation), the amount allocated to Antero Partners is no longer reflected in Antero Resources consolidated financial statements. See Note 3 to the unaudited condensed consolidated financial statements for further discussion on the Transactions.
Summary of restricted stock and restricted stock unit awards activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ average ​ Aggregate ​ ​ ​ Number of ​ grant date ​ intrinsic value ​ ​ shares fair value (in thousands) ​ Total awarded and unvested—December 31, 2019 ​ 2,370,575 ​ $ 12.81 ​ $ 6,756 ​ Granted ​ 4,644,934 ​ $ 2.39 ​ ​ ​ ​ Vested ​ (191,216) ​ $ 5.04 ​ ​ ​ ​ Forfeited ​ (69,293) ​ $ 13.07 ​ ​ ​ ​ Total awarded and unvested—March 31, 2020 ​ 6,755,000 ​ $ 5.86 ​ $ 4,816 ​
Summary of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ Intrinsic ​ ​ ​ Stock ​ exercise ​ contractual ​ value ​ ​ options price life (in thousands) ​ Outstanding at December 31, 2019 ​ 467,633 ​ $ 50.64 ​ 5.05 ​ $ — ​ Granted ​ — ​ $ — ​ ​ ​ ​ ​ ​ Exercised ​ — ​ $ — ​ ​ ​ ​ ​ ​ Forfeited ​ (8,339) ​ $ 52.36 ​ ​ ​ ​ ​ ​ Expired ​ — ​ $ — ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2020 ​ 459,294 ​ $ 50.61 ​ 4.77 ​ $ — ​ Vested or expected to vest as of March 31, 2020 ​ 459,294 ​ $ 50.61 ​ 4.77 ​ $ — ​ Exercisable at March 31, 2020 ​ 459,294 ​ $ 50.61 ​ 4.77 ​ $ — ​
Schedule of outstanding unvested restricted stock awards vesting schedule	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ average ​ Aggregate ​ ​ ​ Number of ​ grant date ​ intrinsic value ​ ​ units fair value (in thousands) ​ Total awarded and unvested—December 31, 2019 ​ 657,757 ​ $ 14.71 ​ $ 4,992 ​ Granted ​ — ​ $ — ​ ​ ​ ​ Vested ​ (10,120) ​ $ 15.81 ​ ​ ​ ​ Forfeited ​ (9,496) ​ $ 13.75 ​ ​ ​ ​ Total awarded and unvested—March 31, 2020 ​ 638,141 ​ $ 14.70 ​ $ 1,340 ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments.
Schedule of outstanding commodity derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural Gas ​ ​ ​ Weighted ​ ​ ​ Natural gas ​ Liquids ​ Oil ​ average index ​ ​ MMBtu/day Bbls/day Bbls/day price Nine months ending December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 2,227,500 ​ ​ ​ — ​ $ 2.87 ​ ARA Propane ($/Gal) ​ — ​ 10,352 ​ — ​ ​ 0.65 ​ NYMEX-WTI ($/Bbl) ​ — ​ — ​ 26,000 ​ ​ 55.63 ​ Total ​ 2,227,500 ​ 10,352 ​ 26,000 ​ ​ ​ ​ Year ending December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 2,400,000 ​ ​ ​ — ​ $ 2.80 ​ NYMEX-WTI ($/Bbl) ​ — ​ ​ ​ 3,000 ​ ​ 55.16 ​ Total ​ 2,400,000 ​ ​ ​ 3,000 ​ ​ ​ ​ Year ending December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 687,500 ​ ​ ​ ​ ​ $ 2.48 ​ Year ending December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NYMEX ($/MMBtu) ​ 50,000 ​ ​ ​ ​ ​ $ 2.39 ​
Schedule of natural gas basis swap positions which settle on pricing index to basis differential of NYMEX to TCO	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural Gas ​ Weighted ​ ​ ​ Natural gas ​ Liquids ​ average hedged ​ ​ MMBtu/day Bbls/day differential ​ Three months ending June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ARA to Mont Belvieu Non-TET ($/Gal) ​ — ​ 1,602 ​ $ 0.22 ​ Nine months ending December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 60,000 ​ ​ ​ $ 0.353 ​ Year ending December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 40,000 ​ ​ ​ $ 0.414 ​ Year ending December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 60,000 ​ ​ ​ $ 0.515 ​ Year ending December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 50,000 ​ ​ ​ $ 0.525 ​ Year ending December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ NYMEX to TCO ($/MMBtu) ​ 50,000 ​ ​ ​ $ 0.530 ​
Schedule 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.	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Gas ​ average ​ ​ ​ ​ Liquids ​ Payout ​ ​ ​ Bbls/day Ratio ​ ​ Nine months ending December 31, 2020: ​ ​ ​ ​ ​ ​ Mont Belvieu Natural Gasoline to NYMEX-WTI ​ 18,800 ​ 80 % ​ Year ending December 31, 2021: ​ ​ ​ ​ ​ ​ Mont Belvieu Natural Gasoline to NYMEX-WTI ​ 18,650 ​ 78 % ​
Summary of the fair values of derivative instruments, which are not designated as hedges for accounting purposes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ March 31, 2020 ​ ​ ​ Balance sheet ​ Fair value ​ Balance sheet ​ Fair value ​ ​ location (In thousands) location (In thousands) ​ Asset derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current ​ Derivative instruments ​ $ 422,849 ​ Derivative instruments ​ $ 816,444 ​ Commodity derivatives—noncurrent ​ Derivative instruments ​ ​ 333,174 ​ Derivative instruments ​ ​ 284,461 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total asset derivatives ​ ​ ​ ​ 756,023 ​ ​ ​ ​ 1,100,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current ​ Derivative instruments ​ ​ 6,721 ​ Derivative instruments ​ ​ — ​ Commodity derivatives—noncurrent ​ Derivative instruments ​ ​ 3,519 ​ Derivative instruments ​ ​ 215 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liability derivatives ​ ​ ​ ​ 10,240 ​ ​ ​ ​ 215 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net derivatives ​ ​ ​ $ 745,783 ​ ​ ​ $ 1,100,690 ​
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, 2019 ​ March 31, 2020 ​ ​ ​ Gross ​ Gross amounts ​ Net amounts of ​ Gross ​ Gross amounts ​ Net amounts of ​ ​ ​ amounts on ​ offset on ​ assets (liabilities) ​ amounts on ​ offset on ​ assets (liabilities) ​ ​ balance sheet balance sheet on balance sheet balance sheet balance sheet on balance sheet Commodity derivative assets ​ $ 882,817 ​ ​ (126,794) ​ ​ 756,023 ​ $ 1,193,046 ​ ​ (92,141) ​ ​ 1,100,905 ​ Commodity derivative liabilities ​ $ (137,034) ​ ​ 126,794 ​ ​ (10,240) ​ $ (92,356) ​ ​ 92,141 ​ ​ (215) ​
Summary of derivative fair value gains (losses)	The following is a summary of derivative fair value gains and losses and where such values are recorded in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Statement of ​ ​ ​ ​ ​ operations ​ Three months ended March 31, ​ ​ location 2019 2020 ​ Commodity derivative fair value gains (losses) ​ Revenue ​ $ (77,368) ​ ​ 565,833 ​

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases
Summary of supplemental balance sheet information related to leases	The Company’s lease assets as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ March 31, 2020 ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ Right-of-use Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing plants ​ $ 1,460,770 ​ ​ — ​ $ 1,440,110 ​ ​ — ​ Drilling rigs and completion services ​ ​ 71,662 ​ ​ — ​ ​ 56,353 ​ ​ — ​ Gas gathering lines and compressor stations (1) ​ ​ 1,308,428 ​ ​ — ​ ​ 1,273,200 ​ ​ — ​ Office space ​ ​ 40,491 ​ ​ — ​ ​ 39,631 ​ ​ — ​ Vehicles ​ ​ 4,983 ​ ​ 2,328 ​ ​ 4,232 ​ ​ 2,058 ​ Other office and field equipment ​ ​ 166 ​ ​ 170 ​ ​ 1,013 ​ ​ — ​ Total right-of-use assets ​ $ 2,886,500 ​ ​ 2,498 ​ $ 2,814,539 ​ ​ 2,058 (2) (1) Gas gathering lines and compressor stations leases includes $1.1 billion related to Antero Midstream Corporation as of December 31, 2019 and March 31, 2020. See “—Related party lease disclosure” for additional discussion. (2) Financing lease assets are recorded net of accumulated amortization of $9 million and $3 million as of December 31, 2019 and March 31, 2020, respectively. ​ The Company’s lease liabilities as of December 31, 2019 and March 31, 2020 consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ March 31, 2020 ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ Location on the balance sheet: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term lease liabilities ​ $ 304,397 ​ ​ 923 ​ $ 294,535 ​ ​ 1,123 ​ Long-term lease liabilities ​ ​ 2,582,103 ​ ​ 1,575 ​ ​ 2,520,004 ​ ​ 935 ​ Total lease liabilities ​ $ 2,886,500 ​ ​ 2,498 ​ $ 2,814,539 ​ ​ 2,058 ​
Summary of costs associated with operating leases	Costs associated with operating leases were included in the statement of operations and comprehensive income (loss) for the three months ended March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Statement of Operations Location ​ March 31, 2019 ​ March 31, 2020 Gathering, compression, processing, and transportation ​ $ 187,847 ​ ​ 352,643 General and administrative ​ ​ 2,726 ​ ​ 2,881 Contract termination and rig stacking ​ ​ 8,019 ​ ​ — Total lease expense ​ $ 198,592 ​ ​ 355,524
Summary of supplemental cash flow information related to leases	The following is the Company’s supplemental cash flow information related to leases for the three months ended March 31, 2019 and March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 ​ Three months ended March 31, 2020 ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash out flows related to operating leases ​ $ 150,320 ​ ​ — ​ $ 358,039 ​ ​ — ​ Investing cash out flows related to operating leases ​ ​ 52,366 ​ ​ — ​ ​ 27,534 ​ ​ — ​ Financing cash out flows related to financing leases ​ ​ — ​ ​ 791 ​ ​ — ​ ​ 439 ​ ​ ​ $ 202,686 ​ ​ 791 ​ $ 385,573 ​ ​ 439 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncash activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right of use assets obtained in exchange for operating lease liabilities ​ $ 3,345,549 ​ ​ — ​ $ 9,382 ​ ​ — ​ Right of use assets obtained in exchange for financing lease liabilities ​ $ — ​ ​ — ​ $ — ​ ​ — ​
Summary of maturities of operating lease liabilities	The table below is a schedule of future minimum payments for operating and financing lease liabilities as of March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ Operating Leases ​ Financing Leases ​ Total ​ Remainder of 2020 ​ $ 464,093 ​ ​ 978 ​ ​ 465,071 ​ 2021 ​ ​ 558,241 ​ ​ 844 ​ ​ 559,085 ​ 2022 ​ ​ 543,326 ​ ​ 321 ​ ​ 543,647 ​ 2023 ​ ​ 538,771 ​ ​ 7 ​ ​ 538,778 ​ 2024 ​ ​ 530,003 ​ ​ — ​ ​ 530,003 ​ 2025 ​ ​ 457,326 ​ ​ — ​ ​ 457,326 ​ Thereafter ​ ​ 1,394,412 ​ ​ — ​ ​ 1,394,412 ​ Total lease payments ​ ​ 4,486,172 ​ ​ 2,150 ​ ​ 4,488,322 ​ Less: imputed interest ​ ​ (1,671,633) ​ ​ (92) ​ ​ (1,671,725) ​ Total ​ $ 2,814,539 ​ ​ 2,058 ​ ​ 2,816,597 ​ ​ ​
Summary of maturities of financing lease liabilities	The table below is a schedule of future minimum payments for operating and financing lease liabilities as of March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ Operating Leases ​ Financing Leases ​ Total ​ Remainder of 2020 ​ $ 464,093 ​ ​ 978 ​ ​ 465,071 ​ 2021 ​ ​ 558,241 ​ ​ 844 ​ ​ 559,085 ​ 2022 ​ ​ 543,326 ​ ​ 321 ​ ​ 543,647 ​ 2023 ​ ​ 538,771 ​ ​ 7 ​ ​ 538,778 ​ 2024 ​ ​ 530,003 ​ ​ — ​ ​ 530,003 ​ 2025 ​ ​ 457,326 ​ ​ — ​ ​ 457,326 ​ Thereafter ​ ​ 1,394,412 ​ ​ — ​ ​ 1,394,412 ​ Total lease payments ​ ​ 4,486,172 ​ ​ 2,150 ​ ​ 4,488,322 ​ Less: imputed interest ​ ​ (1,671,633) ​ ​ (92) ​ ​ (1,671,725) ​ Total ​ $ 2,814,539 ​ ​ 2,058 ​ ​ 2,816,597 ​ ​ ​
Summary of weighted-average remaining lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases ​ Weighted-average remaining lease term: ​ ​ 8.5 years ​ ​ 2.0 years ​ Weighted-average discount rate: ​ ​ 11.6 % ​ 6.1 %

Commitments (Tables)

Commitments (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments
Schedule of future minimum payments for firm transportation, drilling rig and completion services, gas processing, gathering and compression, office and equipment agreements, and leases that have remaining lease terms in excess of one year	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, which include leases that have remaining lease terms in excess of one year as of March 31, 2020 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Firm ​ gathering and ​ Land payment ​ Operating and ​ Imputed Interest ​ ​ ​ ​ ​ transportation ​ compression ​ obligations ​ Financing Leases ​ for Leases ​ ​ ​ ​ (a) (b) (c) (d) (d) Total Remainder of 2020 ​ $ 832,753 ​ ​ 42,144 ​ ​ 2,411 ​ ​ 228,796 ​ ​ 236,275 ​ ​ 1,342,379 ​ 2021 ​ ​ 1,076,995 ​ ​ 55,780 ​ ​ 2,859 ​ ​ 269,661 ​ ​ 289,424 ​ ​ 1,694,719 ​ 2022 ​ ​ 1,034,275 ​ ​ 53,606 ​ ​ 328 ​ ​ 284,665 ​ ​ 258,982 ​ ​ 1,631,856 ​ 2023 ​ ​ 1,057,150 ​ ​ 58,565 ​ ​ — ​ ​ 313,475 ​ ​ 225,303 ​ ​ 1,654,493 ​ 2024 ​ ​ 1,017,104 ​ ​ 58,687 ​ ​ — ​ ​ 342,348 ​ ​ 187,655 ​ ​ 1,605,794 ​ 2025 ​ ​ 977,891 ​ ​ 47,385 ​ ​ — ​ ​ 308,465 ​ ​ 148,861 ​ ​ 1,482,602 ​ Thereafter ​ ​ 6,930,640 ​ ​ 105,138 ​ ​ — ​ ​ 1,069,187 ​ ​ 325,225 ​ ​ 8,430,190 ​ Total ​ $ 12,926,808 ​ ​ 421,305 ​ ​ 5,598 ​ ​ 2,816,597 ​ ​ 1,671,725 ​ ​ 17,842,033 ​

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2019 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Method ​ Elimination of ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in ​ intersegment ​ ​ ​ ​ ​ Exploration ​ ​ ​ Antero ​ transactions and ​ ​ ​ ​ ​ and ​ ​ ​ Midstream ​ unconsolidated ​ Consolidated ​ ​ production Marketing Corporation affiliates total ​ Three months ended March 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 941,635 ​ ​ 91,186 ​ ​ 4 ​ ​ — ​ ​ 1,032,825 ​ Intersegment ​ 1,758 ​ ​ — ​ ​ 54,104 ​ ​ (51,280) ​ ​ 4,582 ​ Total ​ $ 943,393 ​ ​ 91,186 ​ ​ 54,108 ​ ​ (51,280) ​ ​ 1,037,407 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ $ 42,969 ​ ​ — ​ ​ 11,815 ​ ​ (13,052) ​ ​ 41,732 ​ Gathering, compression, processing, and transportation ​ ​ 535,015 ​ ​ — ​ ​ 2,935 ​ ​ (113,421) ​ ​ 424,529 ​ Impairment of oil and gas properties ​ ​ 81,244 ​ ​ — ​ ​ — ​ ​ — ​ ​ 81,244 ​ Impairment of midstream assets ​ ​ — ​ ​ — ​ ​ 6,982 ​ ​ — ​ ​ 6,982 ​ Depletion, depreciation, and amortization ​ ​ 218,494 ​ ​ — ​ ​ 7,650 ​ ​ 14,057 ​ ​ 240,201 ​ General and administrative ​ ​ 49,908 ​ ​ — ​ ​ 2,184 ​ ​ 16,110 ​ ​ 68,202 ​ Other ​ ​ 44,137 ​ ​ 163,084 ​ ​ 1,291 ​ ​ (288) ​ ​ 208,224 ​ Total ​ ​ 971,767 ​ ​ 163,084 ​ ​ 32,857 ​ ​ (96,594) ​ ​ 1,071,114 ​ Operating income (loss) ​ $ (28,374) ​ ​ (71,898) ​ ​ 21,251 ​ ​ 45,314 ​ ​ (33,707) ​ Equity in earnings of unconsolidated affiliates ​ $ 1,817 ​ ​ — ​ ​ 2,880 ​ ​ 9,384 ​ ​ 14,081 ​ Investments in unconsolidated affiliates ​ $ 1,989,612 ​ ​ — ​ ​ 1,153,943 ​ ​ (1,153,943) ​ ​ 1,989,612 ​ Segment assets ​ $ 17,263,369 ​ ​ 25,361 ​ ​ 6,660,325 ​ ​ (6,660,325) ​ ​ 17,288,730 ​ Capital expenditures for segment assets ​ $ 399,278 ​ ​ — ​ ​ 16,005 ​ ​ 56,650 ​ ​ 471,933 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Method ​ Elimination of ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in ​ intersegment ​ ​ ​ ​ ​ Exploration ​ ​ ​ Antero ​ transactions and ​ ​ ​ ​ ​ and ​ ​ ​ Midstream ​ unconsolidated ​ Consolidated ​ ​ production Marketing Corporation affiliates total ​ Three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 1,270,234 ​ ​ 46,073 ​ ​ — ​ ​ — ​ ​ 1,316,307 ​ Intersegment ​ 798 ​ ​ — ​ ​ 243,708 ​ ​ (243,708) ​ ​ 798 ​ Total ​ $ 1,271,032 ​ ​ 46,073 ​ ​ 243,708 ​ ​ (243,708) ​ ​ 1,317,105 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ $ 25,644 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25,644 ​ Gathering, compression, processing, and transportation ​ ​ 588,624 ​ ​ — ​ ​ 55,908 ​ ​ (55,908) ​ ​ 588,624 ​ Impairment of oil and gas properties ​ ​ 89,220 ​ ​ — ​ ​ — ​ ​ — ​ ​ 89,220 ​ Impairment of midstream assets ​ ​ — ​ ​ — ​ ​ 664,544 ​ ​ (664,544) ​ ​ — ​ Depletion, depreciation, and amortization ​ ​ 199,677 ​ ​ — ​ ​ 27,343 ​ ​ (27,343) ​ ​ 199,677 ​ General and administrative ​ ​ 31,221 ​ ​ — ​ ​ 10,199 ​ ​ (10,199) ​ ​ 31,221 ​ Other ​ ​ 27,013 ​ ​ 93,273 ​ ​ 4,878 ​ ​ (4,878) ​ ​ 120,286 ​ Total ​ ​ 961,399 ​ ​ 93,273 ​ ​ 762,872 ​ ​ (762,872) ​ ​ 1,054,672 ​ Operating income (loss) ​ $ 309,633 ​ ​ (47,200) ​ ​ (519,164) ​ ​ 519,164 ​ ​ 262,433 ​ Equity in earnings (loss) of unconsolidated affiliates ​ $ (128,055) ​ ​ — ​ ​ 19,077 ​ ​ (19,077) ​ ​ (128,055) ​ Investments in unconsolidated affiliates ​ $ 291,989 ​ ​ — ​ ​ 716,778 ​ ​ (716,778) ​ ​ 291,989 ​ Segment assets ​ $ 14,516,150 ​ ​ 9,639 ​ ​ 5,781,359 ​ ​ (5,781,359) ​ ​ 14,525,789 ​ Capital expenditures for segment assets ​ $ 311,611 ​ ​ — ​ ​ 67,983 ​ ​ (67,983) ​ ​ 311,611 ​

Subsidiary Guarantors (Tables)

Subsidiary Guarantors (Tables)	3 Months Ended
	Mar. 31, 2020
Subsidiary Guarantors
Schedule of condensed consolidating balance sheets	Condensed Consolidating Balance Sheet (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable, net ​ $ 46,419 ​ ​ — ​ ​ — ​ ​ — ​ ​ 46,419 ​ Accounts receivable, related parties ​ ​ 125,000 ​ ​ 299,450 ​ ​ — ​ ​ (299,450) ​ ​ 125,000 ​ Accrued revenue ​ ​ 317,886 ​ ​ — ​ ​ — ​ ​ — ​ ​ 317,886 ​ Derivative instruments ​ ​ 422,849 ​ ​ — ​ ​ — ​ ​ — ​ ​ 422,849 ​ Other current assets ​ ​ 10,731 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,731 ​ Total current assets ​ ​ 922,885 ​ ​ 299,450 ​ ​ — ​ ​ (299,450) ​ ​ 922,885 ​ Property and equipment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas properties, at cost (successful efforts method): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unproved properties ​ ​ 1,368,854 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,368,854 ​ Proved properties ​ ​ 11,859,817 ​ ​ — ​ ​ — ​ ​ — ​ ​ 11,859,817 ​ Gathering systems and facilities ​ ​ 5,802 ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,802 ​ Other property and equipment ​ ​ 71,895 ​ ​ — ​ ​ — ​ ​ — ​ ​ 71,895 ​ ​ ​ ​ 13,306,368 ​ ​ — ​ ​ — ​ ​ — ​ ​ 13,306,368 ​ Less accumulated depletion, depreciation, and amortization ​ ​ (3,327,629) ​ ​ — ​ ​ — ​ ​ — ​ ​ (3,327,629) ​ Property and equipment, net ​ ​ 9,978,739 ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,978,739 ​ Operating leases right-of-use assets ​ ​ 2,886,500 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,886,500 ​ Derivative instruments ​ ​ 333,174 ​ ​ — ​ ​ — ​ ​ — ​ ​ 333,174 ​ Investments in unconsolidated affiliates ​ ​ 243,048 ​ ​ 812,129 ​ ​ — ​ ​ — ​ ​ 1,055,177 ​ Investments in consolidated affiliates ​ ​ 812,129 ​ ​ — ​ ​ — ​ ​ (812,129) ​ ​ — ​ Other assets ​ ​ 21,094 ​ ​ — ​ ​ — ​ ​ — ​ ​ 21,094 ​ Total assets ​ $ 15,197,569 ​ ​ 1,111,579 ​ ​ — ​ ​ (1,111,579) ​ ​ 15,197,569 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 14,498 ​ ​ — ​ ​ — ​ ​ — ​ ​ 14,498 ​ Accounts payable, related parties ​ ​ 397,333 ​ ​ — ​ ​ — ​ ​ (299,450) ​ ​ 97,883 ​ Accrued liabilities ​ ​ 400,850 ​ ​ — ​ ​ — ​ ​ — ​ ​ 400,850 ​ Revenue distributions payable ​ ​ 207,988 ​ ​ — ​ ​ — ​ ​ — ​ ​ 207,988 ​ Derivative instruments ​ ​ 6,721 ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,721 ​ Short-term lease liabilities ​ ​ 305,320 ​ ​ — ​ ​ — ​ ​ — ​ ​ 305,320 ​ Other current liabilities ​ ​ 6,879 ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,879 ​ Total current liabilities ​ ​ 1,339,589 ​ ​ — ​ ​ — ​ ​ (299,450) ​ ​ 1,040,139 ​ Long-term liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ ​ 3,758,868 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,758,868 ​ Deferred income tax liability ​ ​ 781,987 ​ ​ — ​ ​ — ​ ​ — ​ ​ 781,987 ​ Derivative instruments ​ ​ 3,519 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,519 ​ Long-term lease liabilities ​ ​ 2,583,678 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,583,678 ​ Other liabilities ​ ​ 58,635 ​ ​ — ​ ​ — ​ ​ — ​ ​ 58,635 ​ Total liabilities ​ ​ 8,526,276 ​ ​ — ​ ​ — ​ ​ (299,450) ​ ​ 8,226,826 ​ Equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock ​ ​ 2,959 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,959 ​ Additional paid-in capital ​ ​ 5,600,714 ​ ​ 1,341,780 ​ ​ — ​ ​ (812,129) ​ ​ 6,130,365 ​ Accumulated earnings ​ ​ 1,067,620 ​ ​ (230,201) ​ ​ — ​ ​ — ​ ​ 837,419 ​ Total stockholders' equity ​ ​ 6,671,293 ​ ​ 1,111,579 ​ ​ — ​ ​ (812,129) ​ ​ 6,970,743 ​ Total liabilities and equity ​ $ 15,197,569 ​ ​ 1,111,579 ​ ​ — ​ ​ (1,111,579) ​ ​ 15,197,569 ​ ​ Condensed Consolidating Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable ​ $ 91,944 ​ ​ — ​ ​ — ​ ​ — ​ ​ 91,944 ​ Accounts receivable, related parties ​ ​ — ​ ​ 332,353 ​ ​ — ​ ​ (332,353) ​ ​ — ​ Accrued revenue ​ ​ 201,320 ​ ​ — ​ ​ — ​ ​ — ​ ​ 201,320 ​ Derivative instruments ​ ​ 816,444 ​ ​ — ​ ​ — ​ ​ — ​ ​ 816,444 ​ Other current assets ​ ​ 10,313 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,313 ​ Total current assets ​ ​ 1,120,021 ​ ​ 332,353 ​ ​ — ​ ​ (332,353) ​ ​ 1,120,021 ​ Property and equipment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas properties, at cost (successful efforts method): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unproved properties ​ ​ 1,289,770 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,289,770 ​ Proved properties ​ ​ 12,154,162 ​ ​ — ​ ​ — ​ ​ — ​ ​ 12,154,162 ​ Gathering systems and facilities ​ ​ 5,802 ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,802 ​ Other property and equipment ​ ​ 72,312 ​ ​ — ​ ​ — ​ ​ — ​ ​ 72,312 ​ ​ ​ ​ 13,522,046 ​ ​ — ​ ​ — ​ ​ — ​ ​ 13,522,046 ​ Less accumulated depletion, depreciation, and amortization ​ ​ (3,527,306) ​ ​ — ​ ​ — ​ ​ — ​ ​ (3,527,306) ​ Property and equipment, net ​ ​ 9,994,740 ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,994,740 ​ Operating leases right-of-use assets ​ ​ 2,814,539 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,814,539 ​ Derivative instruments ​ ​ 284,461 ​ ​ — ​ ​ — ​ ​ — ​ ​ 284,461 ​ Investments in unconsolidated affiliates ​ ​ 67,289 ​ ​ 224,700 ​ ​ — ​ ​ — ​ ​ 291,989 ​ Investments in consolidated affiliates ​ ​ 224,700 ​ ​ — ​ ​ — ​ ​ (224,700) ​ ​ — ​ Other assets ​ ​ 20,039 ​ ​ — ​ ​ — ​ ​ — ​ ​ 20,039 ​ Total assets ​ $ 14,525,789 ​ ​ 557,053 ​ ​ — ​ ​ (557,053) ​ ​ 14,525,789 ​ Liabilities and Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 37,909 ​ ​ — ​ ​ — ​ ​ — ​ ​ 37,909 ​ Accounts payable, related parties ​ ​ 421,247 ​ ​ — ​ ​ — ​ ​ (332,353) ​ ​ 88,894 ​ Accrued liabilities ​ ​ 367,444 ​ ​ — ​ ​ — ​ ​ — ​ ​ 367,444 ​ Revenue distributions payable ​ ​ 174,654 ​ ​ — ​ ​ — ​ ​ — ​ ​ 174,654 ​ Short-term lease liabilities ​ ​ 295,658 ​ ​ — ​ ​ — ​ ​ — ​ ​ 295,658 ​ Other current liabilities ​ ​ 7,315 ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,315 ​ Total current liabilities ​ ​ 1,304,227 ​ ​ — ​ ​ — ​ ​ (332,353) ​ ​ 971,874 ​ Long-term liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ Long-term debt ​ ​ 3,707,787 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,707,787 ​ Deferred income tax liability ​ ​ 672,002 ​ ​ — ​ ​ — ​ ​ — ​ ​ 672,002 ​ Derivative instruments ​ ​ 215 ​ ​ — ​ ​ — ​ ​ — ​ ​ 215 ​ Long-term lease liabilities ​ ​ 2,520,939 ​ ​ ​ ​ ​ — ​ ​ — ​ ​ 2,520,939 ​ Other liabilities ​ ​ 60,432 ​ ​ — ​ ​ — ​ ​ — ​ ​ 60,432 ​ Total liabilities ​ ​ 8,265,602 ​ ​ — ​ ​ — ​ ​ (332,353) ​ ​ 7,933,249 ​ Equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ Common stock ​ ​ 2,689 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,689 ​ Additional paid-in capital ​ ​ 4,974,162 ​ ​ 1,341,780 ​ ​ — ​ ​ (224,700) ​ ​ 6,091,242 ​ Accumulated earnings ​ ​ 1,283,336 ​ ​ (784,727) ​ ​ — ​ ​ — ​ ​ 498,609 ​ Total stockholders' equity ​ ​ 6,260,187 ​ ​ 557,053 ​ ​ — ​ ​ (224,700) ​ ​ 6,592,540 ​ Total liabilities and equity ​ $ 14,525,789 ​ ​ 557,053 ​ ​ — ​ ​ (557,053) ​ ​ 14,525,789 ​
Schedule of condensed consolidating statement of operations and comprehensive income	Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Revenue and other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 657,266 ​ ​ — ​ ​ — ​ ​ — ​ ​ 657,266 ​ Natural gas liquids sales ​ ​ 313,685 ​ ​ — ​ ​ — ​ ​ — ​ ​ 313,685 ​ Oil sales ​ ​ 48,052 ​ ​ — ​ ​ — ​ ​ — ​ ​ 48,052 ​ Commodity derivative fair value losses ​ ​ (77,368) ​ ​ — ​ ​ — ​ ​ — ​ ​ (77,368) ​ Gathering, compression, water handling and treatment ​ ​ — ​ ​ — ​ ​ 218,360 ​ ​ (213,881) ​ ​ 4,479 ​ Marketing ​ ​ 91,186 ​ ​ — ​ ​ — ​ ​ — ​ ​ 91,186 ​ Other income ​ ​ 1,758 ​ ​ — ​ ​ — ​ ​ (1,651) ​ ​ 107 ​ Total revenue and other ​ ​ 1,034,579 ​ ​ — ​ ​ 218,360 ​ ​ (215,532) ​ ​ 1,037,407 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 42,969 ​ ​ — ​ ​ 64,818 ​ ​ (66,055) ​ ​ 41,732 ​ Gathering, compression, processing, and transportation ​ ​ 535,015 ​ ​ — ​ ​ — ​ ​ (110,486) ​ ​ 424,529 ​ Production and ad valorem taxes ​ ​ 34,738 ​ ​ — ​ ​ — ​ ​ 940 ​ ​ 35,678 ​ Marketing ​ ​ 163,084 ​ ​ — ​ ​ — ​ ​ — ​ ​ 163,084 ​ Exploration ​ ​ 126 ​ ​ — ​ ​ — ​ ​ — ​ ​ 126 ​ Impairment of oil and gas properties ​ ​ 81,244 ​ ​ — ​ ​ — ​ ​ — ​ ​ 81,244 ​ Impairment of midstream assets ​ ​ — ​ ​ — ​ ​ 6,982 ​ ​ — ​ ​ 6,982 ​ Depletion, depreciation, and amortization ​ ​ 218,494 ​ ​ — ​ ​ 21,707 ​ ​ — ​ ​ 240,201 ​ Accretion of asset retirement obligations ​ ​ 913 ​ ​ — ​ ​ 63 ​ ​ — ​ ​ 976 ​ General and administrative ​ ​ 49,908 ​ ​ — ​ ​ 18,793 ​ ​ (499) ​ ​ 68,202 ​ Contract termination and rig stacking ​ ​ 8,360 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8,360 ​ Accretion of contingent acquisition consideration ​ ​ — ​ ​ — ​ ​ 1,928 ​ ​ (1,928) ​ ​ — ​ Total operating expenses ​ ​ 1,134,851 ​ ​ — ​ ​ 114,291 ​ ​ (178,028) ​ ​ 1,071,114 ​ Operating income (loss) ​ ​ (100,272) ​ ​ — ​ ​ 104,069 ​ ​ (37,504) ​ ​ (33,707) ​ Other income (expenses): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ ​ 589 ​ ​ 1,228 ​ ​ 12,264 ​ ​ — ​ ​ 14,081 ​ Equity in earnings of affiliates ​ ​ 15,021 ​ ​ — ​ ​ — ​ ​ (15,021) ​ ​ — ​ Interest expense, net ​ ​ (55,135) ​ ​ — ​ ​ (16,815) ​ ​ — ​ ​ (71,950) ​ Gain on deconsolidation of Antero Midstream Partners LP ​ ​ 1,205,705 ​ ​ 200,337 ​ ​ — ​ ​ — ​ ​ 1,406,042 ​ Total other expenses ​ ​ 1,166,180 ​ ​ 201,565 ​ ​ (4,551) ​ ​ (15,021) ​ ​ 1,348,173 ​ Income before income taxes ​ ​ 1,065,908 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (52,525) ​ ​ 1,314,466 ​ Provision for income tax expense ​ ​ (288,710) ​ ​ — ​ ​ — ​ ​ — ​ ​ (288,710) ​ Net income and comprehensive income including noncontrolling interests ​ ​ 777,198 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (52,525) ​ ​ 1,025,756 ​ Net income and comprehensive income attributable to noncontrolling interests ​ ​ — ​ ​ — ​ ​ — ​ ​ 46,993 ​ ​ 46,993 ​ Net income and comprehensive income attributable to Antero Resources Corporation ​ $ 777,198 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (99,518) ​ ​ 978,763 ​ ​ ​ Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Revenue and other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 411,082 ​ ​ — ​ ​ — ​ ​ — ​ ​ 411,082 ​ Natural gas liquids sales ​ 257,673 ​ ​ — ​ ​ — ​ ​ — ​ ​ 257,673 ​ Oil sales ​ ​ 35,646 ​ ​ — ​ ​ — ​ ​ — ​ ​ 35,646 ​ Commodity derivative fair value gains ​ ​ 565,833 ​ ​ — ​ ​ — ​ ​ — ​ ​ 565,833 ​ Marketing ​ ​ 46,073 ​ ​ — ​ ​ — ​ ​ — ​ ​ 46,073 ​ Other income ​ ​ 798 ​ ​ — ​ ​ — ​ ​ — ​ ​ 798 ​ Total revenue and other ​ ​ 1,317,105 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,317,105 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 25,644 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25,644 ​ Gathering, compression, processing, and transportation ​ ​ 588,624 ​ ​ — ​ ​ — ​ ​ — ​ ​ 588,624 ​ Production and ad valorem taxes ​ ​ 25,699 ​ ​ — ​ ​ — ​ ​ — ​ ​ 25,699 ​ Marketing ​ ​ 93,273 ​ ​ — ​ ​ — ​ ​ — ​ ​ 93,273 ​ Exploration ​ ​ 210 ​ ​ — ​ ​ — ​ ​ — ​ ​ 210 ​ Impairment of oil and gas properties ​ ​ 89,220 ​ ​ — ​ ​ — ​ ​ — ​ ​ 89,220 ​ Depletion, depreciation, and amortization ​ ​ 199,677 ​ ​ — ​ ​ — ​ ​ — ​ ​ 199,677 ​ Accretion of asset retirement obligations ​ ​ 1,104 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,104 ​ General and administrative ​ ​ 31,221 ​ ​ — ​ ​ — ​ ​ — ​ ​ 31,221 ​ Total operating expenses ​ ​ 1,054,672 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,054,672 ​ Operating income ​ ​ 262,433 ​ ​ — ​ ​ — ​ ​ — ​ ​ 262,433 ​ Other income (expenses): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliate ​ ​ (40,312) ​ ​ (87,743) ​ ​ — ​ ​ — ​ ​ (128,055) ​ Impairment of equity investment ​ ​ (143,849) ​ ​ (466,783) ​ ​ — ​ ​ — ​ ​ (610,632) ​ Interest expense, net ​ ​ (53,102) ​ ​ — ​ ​ — ​ ​ — ​ ​ (53,102) ​ Gain on early extinguishment of debt ​ ​ 80,561 ​ ​ — ​ ​ — ​ ​ — ​ ​ 80,561 ​ Total other expenses ​ ​ (156,702) ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (711,228) ​ Income (loss) before income taxes ​ ​ 105,731 ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (448,795) ​ Provision for income tax benefit ​ ​ 109,985 ​ ​ — ​ ​ — ​ ​ — ​ ​ 109,985 ​ Net income (loss) and comprehensive income (loss) ​ $ 215,716 ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (338,810) ​
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Cash flows provided by (used in) operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income including noncontrolling interests ​ $ 777,198 ​ ​ 201,565 ​ ​ 99,518 ​ ​ (52,525) ​ ​ 1,025,756 ​ Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depletion, depreciation, amortization, and accretion ​ ​ 219,407 ​ ​ — ​ ​ 21,770 ​ ​ — ​ ​ 241,177 ​ Impairments ​ ​ 81,244 ​ ​ — ​ ​ 6,982 ​ ​ — ​ ​ 88,226 ​ Commodity derivative fair value losses ​ ​ 77,368 ​ ​ — ​ ​ — ​ ​ — ​ ​ 77,368 ​ Gains on settled commodity derivatives ​ ​ 97,092 ​ ​ — ​ ​ — ​ ​ — ​ ​ 97,092 ​ Deferred income tax expense ​ ​ 287,854 ​ ​ — ​ ​ — ​ ​ — ​ ​ 287,854 ​ Equity-based compensation expense ​ ​ 6,426 ​ ​ — ​ ​ 2,477 ​ ​ — ​ ​ 8,903 ​ Equity in earnings of consolidated subsidiaries ​ ​ (15,021) ​ ​ — ​ ​ — ​ ​ 15,021 ​ ​ — ​ Equity in earnings of unconsolidated affiliates ​ ​ (589) ​ ​ (1,228) ​ ​ (12,264) ​ ​ — ​ ​ (14,081) ​ Distributions of earnings from unconsolidated affiliates ​ ​ — ​ ​ — ​ ​ 12,605 ​ ​ — ​ ​ 12,605 ​ Gain on deconsolidation of Antero Midstream Partners LP ​ ​ (1,205,705) ​ ​ (200,337) ​ ​ — ​ ​ — ​ ​ (1,406,042) ​ Distributions from Antero Midstream Partners LP ​ ​ 46,469 ​ ​ — ​ ​ — ​ ​ (46,469) ​ ​ — ​ Other ​ ​ 10,331 ​ ​ — ​ ​ 750 ​ ​ — ​ ​ 11,081 ​ Changes in current assets and liabilities ​ ​ 102,830 ​ ​ — ​ ​ (10,573) ​ ​ 16,808 ​ ​ 109,065 ​ Net cash provided by operating activities ​ ​ 484,904 ​ ​ — ​ ​ 121,265 ​ ​ (67,165) ​ ​ 539,004 ​ Cash flows provided by (used in) investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions to unproved properties ​ ​ (27,463) ​ ​ — ​ ​ — ​ ​ — ​ ​ (27,463) ​ Drilling and completion costs ​ ​ (389,252) ​ ​ — ​ ​ — ​ ​ 20,565 ​ ​ (368,687) ​ Additions to water handling and treatment systems ​ ​ — ​ ​ — ​ ​ (24,547) ​ ​ 131 ​ ​ (24,416) ​ Additions to gathering systems and facilities ​ ​ — ​ ​ — ​ ​ (48,239) ​ ​ — ​ ​ (48,239) ​ Additions to other property and equipment ​ ​ (2,066) ​ ​ — ​ ​ (1,062) ​ ​ — ​ ​ (3,128) ​ Investments in unconsolidated affiliates ​ ​ — ​ ​ — ​ ​ (25,020) ​ ​ — ​ ​ (25,020) ​ Proceeds from the Antero Midstream Partners LP Transactions ​ ​ 296,611 ​ ​ — ​ ​ — ​ ​ — ​ ​ 296,611 ​ Change in other assets ​ ​ (1,118) ​ ​ — ​ ​ (3,357) ​ ​ — ​ ​ (4,475) ​ Net cash used in investing activities ​ ​ (123,288) ​ ​ — ​ ​ (102,225) ​ ​ 20,696 ​ ​ (204,817) ​ Cash flows provided by (used in) financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Issuance of senior notes ​ ​ — ​ ​ — ​ ​ 650,000 ​ ​ — ​ ​ 650,000 ​ Borrowings (repayments) on bank credit facility, net ​ ​ (360,379) ​ ​ — ​ ​ 90,379 ​ ​ — ​ ​ (270,000) ​ Payments of deferred financing costs ​ ​ (791) ​ ​ — ​ ​ (7,468) ​ ​ — ​ ​ (8,259) ​ Distributions to noncontrolling interests in Antero Midstream Partners LP ​ ​ — ​ ​ — ​ ​ (131,545) ​ ​ 46,469 ​ ​ (85,076) ​ Employee tax withholding for settlement of equity compensation awards ​ ​ (450) ​ ​ — ​ ​ (29) ​ ​ — ​ ​ (479) ​ Other ​ ​ 4 ​ ​ — ​ ​ (845) ​ ​ — ​ ​ (841) ​ Net cash provided by (used in) financing activities ​ ​ (361,616) ​ ​ — ​ ​ 600,492 ​ ​ 46,469 ​ ​ 285,345 ​ Effect of deconsolidation of Antero Midstream Partners LP ​ ​ — ​ ​ — ​ ​ (619,532) ​ ​ — ​ ​ (619,532) ​ Net increase (decrease) in cash and cash equivalents ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, beginning of period ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, end of period ​ $ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2020 (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ Guarantor ​ Non-Guarantor ​ ​ ​ ​ ​ ​ (Antero) Subsidiaries Subsidiaries Eliminations Consolidated ​ Cash flows provided by (used in) operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) including noncontrolling interests ​ $ 215,716 ​ ​ (554,526) ​ ​ — ​ ​ — ​ ​ (338,810) ​ Adjustment to reconcile net income (loss) to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depletion, depreciation, amortization, and accretion ​ ​ 200,781 ​ ​ — ​ ​ — ​ ​ — ​ ​ 200,781 ​ Impairment of oil and gas properties ​ ​ 89,220 ​ ​ — ​ ​ — ​ ​ — ​ ​ 89,220 ​ Commodity derivative fair value gains ​ ​ (565,833) ​ ​ — ​ ​ — ​ ​ — ​ ​ (565,833) ​ Gains on settled commodity derivatives ​ ​ 210,926 ​ ​ — ​ ​ — ​ ​ — ​ ​ 210,926 ​ Equity-based compensation expense ​ ​ 3,329 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,329 ​ Deferred income tax benefit ​ ​ (109,985) ​ ​ — ​ ​ — ​ ​ — ​ ​ (109,985) ​ Gain on early extinguishment of debt ​ ​ (80,561) ​ ​ — ​ ​ — ​ ​ — ​ ​ (80,561) ​ Equity in loss of unconsolidated affiliates ​ ​ 40,312 ​ ​ 87,743 ​ ​ — ​ ​ — ​ ​ 128,055 ​ Impairment of equity investment ​ ​ 143,849 ​ ​ 466,783 ​ ​ — ​ ​ — ​ ​ 610,632 ​ Distributions/dividends of earnings from unconsolidated affiliates ​ ​ 42,756 ​ ​ — ​ ​ — ​ ​ — ​ ​ 42,756 ​ Other ​ ​ 2,440 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,440 ​ Changes in current assets and liabilities ​ ​ 7,727 ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,727 ​ Net cash provided by operating activities ​ ​ 200,677 ​ ​ — ​ ​ — ​ ​ — ​ ​ 200,677 ​ Cash flows provided by (used in) investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions to unproved properties ​ ​ (10,357) ​ ​ — ​ ​ — ​ ​ — ​ ​ (10,357) ​ Drilling and completion costs ​ ​ (300,483) ​ ​ — ​ ​ — ​ ​ — ​ ​ (300,483) ​ Additions to other property and equipment ​ ​ (771) ​ ​ — ​ ​ — ​ ​ — ​ ​ (771) ​ Settlement of water earnout ​ ​ 125,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ 125,000 ​ Change in other assets ​ ​ (70) ​ ​ — ​ ​ — ​ ​ — ​ ​ (70) ​ Net cash used in investing activities ​ ​ (186,681) ​ ​ — ​ ​ — ​ ​ — ​ ​ (186,681) ​ Cash flows provided by (used in) financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchases of common stock ​ ​ (42,690) ​ ​ — ​ ​ — ​ ​ — ​ ​ (42,690) ​ Repayment of senior notes ​ ​ (300,835) ​ ​ — ​ ​ — ​ ​ — ​ ​ (300,835) ​ Borrowings on bank credit facility, net ​ ​ 330,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ 330,000 ​ Employee tax withholding for settlement of equity compensation awards ​ ​ (32) ​ ​ — ​ ​ — ​ ​ — ​ ​ (32) ​ Other ​ ​ (439) ​ ​ — ​ ​ — ​ ​ — ​ ​ (439) ​ Net cash used in financing activities ​ ​ (13,996) ​ ​ — ​ ​ — ​ ​ — ​ ​ (13,996) ​ Net increase in cash and cash equivalents ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, beginning of period ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Cash and cash equivalents, end of period ​ $ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 11, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 12, 2019
Basis of Presentation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Accounts Payable
Basis of Presentation
Bank Overdrafts		$ 5	$ 7
Revenue distributions payable
Basis of Presentation
Bank Overdrafts		$ 21	$ 18
Antero Midstream Corporation
Basis of Presentation
Common stock, par value (in dollars per share)				$ 0.01
Ownership interest in equity method				31.00%
Antero Midstream Partners LP
Basis of Presentation
Ownership interest	53.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property and equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Summary of Significant Accounting Policies
Depreciation expense	$ 199,677	$ 240,201
Oil and Gas Properties
Exploration	0	0
Impairment of oil and gas properties	$ 89,220	81,244
Impairment of midstream assets		$ 6,982

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - EPS and New Accounting Principle (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings per share
Basic weighted average number of shares outstanding	284,227	308,694
Diluted weighted average number of shares outstanding	284,227	308,788
Restricted stock and restricted stock unit
Earnings per share
Add: Dilutive effect of non-vested restricted stock units		80
Weighted Average Anti-dilutive Awards	5,952	1,445
Stock options
Earnings per share
Weighted Average Anti-dilutive Awards	459	570
Performance share unit awards
Earnings per share
Add: Dilutive effect of non-vested restricted stock units		14
Weighted Average Anti-dilutive Awards	1,621	1,721

Deconsolidation of Antero Mid_2

Deconsolidation of Antero Midstream Partners LP - Narrative (Details) - USD ($) $ in Thousands	Mar. 12, 2019	Mar. 31, 2019	Mar. 13, 2019
Deconsolidation
Cash received		$ 296,611
Antero Midstream Corporation
Deconsolidation
Cash received	$ 297,000
Shares of Antero Midstream's common stock received	158,400,000
Ownership interest in equity method	31.00%
Gain on deconsolidation	$ 1,400,000
Fair value of our retained equity method investment			$ 2,000,000
Antero Midstream Partners LP
Deconsolidation
Number of common units owned	98,870,335

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue
Revenue	$ 750,474	$ 1,114,668
Revenue from derivatives and other sources	566,631	(77,261)
Total revenue and other	1,317,105	1,037,407
Natural gas sales
Disaggregation of Revenue
Revenue	411,082	657,266
Oil sales
Disaggregation of Revenue
Revenue	35,646	48,052
Gathering and compression
Disaggregation of Revenue
Revenue		3,972
Water handling and treatment
Disaggregation of Revenue
Revenue		507
Marketing
Disaggregation of Revenue
Revenue	46,073	91,186
Other income
Disaggregation of Revenue
Revenue	798	107
Exploration and production | Natural gas sales
Disaggregation of Revenue
Revenue	411,082	657,266
Exploration and production | Natural gas liquids sales (ethane)
Disaggregation of Revenue
Revenue	26,796	35,516
Exploration and production | Natural gas liquids sales (C3+ NGLs)
Disaggregation of Revenue
Revenue	230,877	278,169
Exploration and production | Oil sales
Disaggregation of Revenue
Revenue	35,646	48,052
Marketing | Marketing
Disaggregation of Revenue
Revenue	$ 46,073	$ 91,186

Revenue - Transaction Price All

Revenue - Transaction Price Allocation and Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Revenue
Original expected duration	true
Receivables from contracts with customers	$ 201	$ 318

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Mar. 12, 2019
Equity Method Investments
Impairment of equity investments		$ 610,632
Investments in unconsolidated affiliates
Equity in earnings (loss) of unconsolidated affiliates		(128,055)	$ 14,081
Distributions/dividends from unconsolidated affiliates		(42,756)	$ (12,605)
Impairment		$ (610,632)
Antero Midstream Corporation
Equity Method Investments
Ownership percentage		29.00%
Antero Midstream Corporation
Equity Method Investments
Ownership percentage					31.00%
Impairment of equity investments		$ 610,632
Investments in unconsolidated affiliates
Balance at beginning of period		1,055,177
Equity in earnings (loss) of unconsolidated affiliates		(128,055)
Distributions/dividends from unconsolidated affiliates		(42,756)
Impairment		(610,632)
Elimination of intercompany profit		18,255
Balance at end of period		291,989
Balance Sheet
Current assets		151,372		$ 108,558
Noncurrent assets		5,629,987		6,174,320
Total assets		5,781,359		6,282,878
Current liabilities		83,560		242,084
Noncurrent liabilities		3,108,844		2,897,380
Stockholders' equity		2,588,955		3,143,414
Total liabilities and equity		5,781,359		$ 6,282,878
Statement of Operations
Revenues	$ 54,108	243,708
Operating expenses	30,029	762,872
Loss from operations	24,079	(519,164)
Net loss attributable to the equity method investments	$ 23,197	$ (392,933)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued Liabilities
Capital expenditures	$ 85,363	$ 105,706
Gathering, compression, processing, and transportation expenses	154,039	134,153
Marketing expenses	28,014	52,612
Interest expense, net	51,281	30,834
Other	48,747	77,545
Total accrued liabilities	$ 367,444	$ 400,850

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020	Dec. 31, 2019	Dec. 21, 2016	Mar. 17, 2015	Sep. 18, 2014	May 06, 2014	Nov. 05, 2013
Long- term Debt
Net unamortized premium	$ 600		$ 791
Net unamortized debt issuance costs	(16,433)		(19,464)
Long-term debt	3,707,787		3,758,868
Amount of debt repurchased	$ 383,000
Weighted average percentage discount on repurchases of debt	21.00%
Gain on extinguishment of debt repurchased	$ 80,561
Credit Facility
Long- term Debt
Long-term debt, gross	$ 882,000		552,000
Current borrowing base		$ 2,850,000
Lender commitments		$ 2,640,000
Time period prior to maturity date of senior notes as one option for maturity date of Credit Facility	91 days
Outstanding balance	$ 882,000		$ 552,000
Weighted average interest rate (as a percent)	2.57%		3.28%
Outstanding letters of credit	$ 730,000		$ 623,000
Credit Facility | Minimum | Not Investment Grade Period
Long- term Debt
Basis points added to the reference rate	0.75%
Commitment fees on the unused portion during any period that is not an Investment Grade Period (as a percent)	0.30%
Credit Facility | Minimum | Investment Grade Period
Long- term Debt
Basis points added to the reference rate	0.625%
Commitment fees on the unused portion during an Investment Grade period (as a percent)	0.15%
Credit Facility | Maximum | Not Investment Grade Period
Long- term Debt
Basis points added to the reference rate	2.75%
Commitment fees on the unused portion during any period that is not an Investment Grade Period (as a percent)	0.375%
Credit Facility | Maximum | Investment Grade Period
Long- term Debt
Basis points added to the reference rate	2.25%
Commitment fees on the unused portion during an Investment Grade period (as a percent)	0.30%
Credit Facility | NYFRB | Not Investment Grade Period
Long- term Debt
Basis spread on variable rate (as a percent)	0.50%
Credit Facility | LIBOR
Long- term Debt
Floor rate (as a percent)	1.00%
Credit Facility | LIBOR | Not Investment Grade Period
Long- term Debt
Basis spread on variable rate (as a percent)	1.00%
Credit Facility | Alternate Base Rate
Long- term Debt
Floor rate (as a percent)	2.00%
5.375% senior notes due 2021
Long- term Debt
Long-term debt, gross	$ 730,283		952,500
Interest rate (as a percent)	5.375%							5.375%
Senior notes issued								$ 1,000,000
Issue price as percentage of par value								100.00%
Redemption price	100.00%
Redemption price at which notes may be required to be repurchased in event of change of control	101.00%
Stand-alone revolving note
Long- term Debt
Maximum amount of the Credit Facility	$ 25,000
Outstanding balance	$ 0		0
Stand-alone revolving note | Lender's Prime Rate
Long- term Debt
Basis spread on variable rate (as a percent)	1.00%
5.125 senior notes due 2022
Long- term Debt
Long-term debt, gross	$ 761,337		923,041
Interest rate (as a percent)	5.125%						5.125%
Senior notes issued						$ 500,000	$ 600,000
Issue price as percentage of par value						100.50%	100.00%
Redemption price	101.281%
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, 2020
Long- term Debt
Redemption price	100.00%
5.625% senior notes due 2023
Long- term Debt
Long-term debt, gross	$ 750,000		750,000
Interest rate (as a percent)	5.625%				5.625%
Senior notes issued					$ 750,000
Issue price as percentage of par value					100.00%
Redemption price	102.813%
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 After June 1, 2021
Long- term Debt
Redemption price	100.00%
5.00% senior notes due 2025
Long- term Debt
Long-term debt, gross	$ 600,000		$ 600,000
Long-term notes payable				$ 600,000
Interest rate (as a percent)	5.00%			5.00%
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%
5.00% senior notes due 2025 | On or after March 1, 2020
Long- term Debt
Redemption price	103.75%
5.00% senior notes due 2025 | On or after March1, 2023
Long- term Debt
Redemption price	100.00%

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Asset Retirement Obligations
Asset retirement obligations - beginning of period	$ 54,845
Obligations incurred	773
Revisions to prior estimates	1,104
Accretion expense	1,104	$ 976
Asset retirement obligations - end of period	$ 56,722

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Stock-based compensation expense
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Equity based compensation expense recognized	$ 3,329	$ 8,903
Antero Resources Corporation Long Term Incentive Plan Member
Stock-based compensation expense
Number of stock-based compensation awards authorized	16,906,500
Number of shares available for future grant under the Plan	1,742,720
Midstream Plan
Stock-based compensation expense
Number of stock-based compensation awards authorized	10,000,000
Restricted stock awards
Stock-based compensation expense
Equity based compensation expense recognized	$ 1,878	3,972
Stock options
Stock-based compensation expense
Equity based compensation expense recognized		344
Performance share unit awards
Stock-based compensation expense
Equity based compensation expense recognized	922	2,959
Antero Midstream Partners Phantom Unit Awards
Stock-based compensation expense
Equity based compensation expense recognized	160	1,125
Equity awards issued to directors
Stock-based compensation expense
Equity based compensation expense recognized	$ 369	$ 503
Antero Midstream Corporation | Midstream Plan
Stock-based compensation expense
Conversion rate of units converted into restricted stock	1.8926
Antero Midstream Corporation | Midstream Plan | Common Stock
Stock-based compensation expense
Conversion rate of units converted into restricted stock	1

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock and RSU Awards (Details) - Restricted stock and restricted stock unit $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Number of shares
Total awarded and unvested at the beginning of the period (in shares) | shares	2,370,575
Granted (in shares) | shares	4,644,934
Vested (in shares) | shares	(191,216)
Forfeited (in shares) | shares	(69,293)
Total awarded and unvested at the end of the period (in shares) | shares	6,755,000
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per share) | $ / shares	$ 12.81
Granted (in dollars per share) | $ / shares	2.39
Vested (in dollars per share) | $ / shares	5.04
Forfeited (in dollars per share) | $ / shares	13.07
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 5.86
Aggregate intrinsic value
Total awarded and unvested at the beginning of the period | $	$ 6,756
Total awarded and unvested at the end of the period | $	4,816
Additional equity compensation to be recognized over the remaining period | $	$ 27,000
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 3 months 18 days

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Details) - Stock options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Stock options
Outstanding at the beginning of the period (in shares)	467,633
Options forfeited (in shares)	(8,339)
Outstanding at the end of the period (in shares)	459,294	467,633
Vested or expected to vest (in shares)	459,294
Exercisable (in shares)	459,294
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 50.64
Options forfeited (in dollars per share)	52.36
Outstanding at the end of the period (in dollars per share)	50.61	$ 50.64
Vested or expected to vest (in dollars per share)	50.61
Exercisable (in dollars per share)	$ 50.61
Weighted average remaining contractual life
Outstanding	4 years 9 months 7 days	5 years 18 days
Vested or expected to vest	4 years 9 months 7 days
Exercisable	4 years 9 months 7 days
Additional disclosures
Unamortized equity based compensation expense	$ 0

Equity-Based Compensation - PSU

Equity-Based Compensation - PSU awards (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)tranche$ / sharesshares
Additional disclosures
Cash awards granted	$ 3.3
Number of tranches | tranche	3
Cash awards accrued in other liabilities	$ 0.6
Performance share unit awards
Number of units
Total awarded and unvested at the end of the period (in shares) | shares	2,537,283
Weighted average grant date fair value
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 16.74
Additional disclosures
Additional equity compensation to be recognized over the remaining period	$ 14
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 7 months 6 days

Equity-Based Compensation - Pha

Equity-Based Compensation - Phantom Unit Awards (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Antero Midstream Partners Phantom Unit Awards
Number of units
Total awarded and unvested at the beginning of the period (in shares)	657,757
Vested (in shares)	(10,120)
Forfeited (in shares)	(9,496)
Total awarded and unvested at the end of the period (in shares)	638,141
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per share) | $ / shares	$ 14.71
Vested (in dollars per share) | $ / shares	15.81
Forfeited (in dollars per share) | $ / shares	13.75
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 14.70
Aggregate intrinsic value
Outstanding at the beginning of the period | $	$ 4,992
Outstanding at the end of the period | $	1,340
Additional equity compensation to be recognized over the remaining period | $	$ 5,000
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 6 months
Restricted stock and restricted stock unit
Number of units
Total awarded and unvested at the beginning of the period (in shares)	2,370,575
Granted (in shares)	4,644,934
Vested (in shares)	(191,216)
Forfeited (in shares)	(69,293)
Total awarded and unvested at the end of the period (in shares)	6,755,000
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per share) | $ / shares	$ 12.81
Granted (in dollars per share) | $ / shares	2.39
Vested (in dollars per share) | $ / shares	5.04
Forfeited (in dollars per share) | $ / shares	13.07
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 5.86
Aggregate intrinsic value
Additional equity compensation to be recognized over the remaining period | $	$ 27,000
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 3 months 18 days
Antero Midstream Corporation | Midstream Plan
Aggregate intrinsic value
Conversion rate of units converted into restricted stock	1.8926

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Billions	Mar. 31, 2020	Dec. 31, 2019
Recurring | Level 2 market data
Financial Instruments
Fair value of senior notes	$ 1.5	$ 2.8

Derivative Instruments - Commod

Derivative Instruments - Commodity derivatives (Details)	3 Months Ended
	Mar. 31, 2020MMBTU / d$ / MMBTU$ / galgalbbl
Swaps | NYMEX | Three Months Ending June 30 2020
Derivative Instruments
Weighted average index price | $ / MMBTU	2.87
Swaps | NYMEX | Three Months Ending September 30 2020
Derivative Instruments
Weighted average index price | $ / MMBTU	2.48
Swaps | ARA Propane | Three Months Ending June 30 2020
Derivative Instruments
Weighted average index price | $ / MMBTU	0.65
Swaps | ARA Propane | Three Months Ending September 30 2020
Derivative Instruments
Weighted average index price | $ / gal	2.39
Swaps | FEI Propane | Three Months Ending June 30 2020
Derivative Instruments
Weighted average index price | $ / MMBTU	55.63
Swaps | Mont Belvieu Natural Gasoline Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Weighted average index price | $ / MMBTU	2.80
Swaps | NYMEX-WTI | Three Months Ending June 30 2020
Derivative Instruments
Weighted average index price | $ / MMBTU	55.16
Swaps | Natural gas | Three Months Ending June 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Swaps | Natural gas | Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	60,000
Swaps | Natural gas | Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Swaps | Natural gas | Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Swaps | Natural gas | NYMEX | Three Months Ending June 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,227,500
Swaps | Natural gas | NYMEX | Three Months Ending September 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	687,500
Swaps | Natural gas | FEI Propane | Three Months Ending September 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Swaps | Natural gas | Mont Belvieu Propane Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,227,500
Swaps | Natural gas | Mont Belvieu Natural Gasoline Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Swaps | Natural gas liquids | ARA Propane | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | bbl	10,352
Swaps | Natural gas liquids | Mont Belvieu Propane Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | bbl	10,352
Swaps | Oil | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | gal	3,000
Swaps | Oil | FEI Propane | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | gal	26,000
Swaps | Oil | Mont Belvieu Propane Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | gal	26,000
Swaps | Oil | NYMEX-WTI | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | gal	3,000
Fixed price swap agreement
Derivative Instruments
Notional amount (MMBtu/day)	427,500
Fixed price ($/MMBtu) | $ / MMBTU	2.77

Derivative Instruments (Details

Derivative Instruments (Details)	3 Months Ended
	Mar. 31, 2020MMBTU / dbbl / dbblgal
Year ending December 31, 2021
Derivative Instruments
Weighted average payout ratio	0.515
Year ending December 31, 2022
Derivative Instruments
Weighted average payout ratio	0.525
Year ending December 31, 2023
Derivative Instruments
Weighted average payout ratio	0.530
Mont Belvieu Butane to European Butane CIF ARA Argus | Year ending December 31, 2020
Derivative Instruments
Weighted average payout ratio	0.414
NYMEX to TCO | Year ending December 31, 2020
Derivative Instruments
Weighted average payout ratio	0.353
ARA to Mont Belvieu Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Weighted average payout ratio	0.22
Mont Belvieu Index Price to WTI | Three Months Ending June 30 2020
Derivative Instruments
Weighted average payout ratio	78
Mont Belvieu Propane to NYMEX-WTI | Three Months Ending June 30 2020
Derivative Instruments
Weighted average payout ratio	80
Natural gas | Swaps | Three Months Ending June 30 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Natural gas | Swaps | Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	60,000
Natural gas | Swaps | Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Natural gas | Swaps | Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Natural gas | Swaps | Mont Belvieu Butane to European Butane CIF ARA Argus | Year ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	40,000
Natural gas | Swaps | NYMEX to TCO | Year ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	60,000
Oil | Swaps | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | gal	3,000
Natural gas liquids | Swaps | ARA to Mont Belvieu Non-TET | Three Months Ending June 30 2020
Derivative Instruments
Notional amount (MMBtu/day) | bbl / d	1,602
Natural gas liquids | Swaps | Mont Belvieu Index Price to WTI | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | bbl	18,650
Natural gas liquids | Swaps | Mont Belvieu Propane to NYMEX-WTI | Three Months Ending June 30 2020
Derivative Instruments
Notional amount | bbl	18,800

Derivative Instruments - Fair v

Derivative Instruments - Fair value (Details) $ in Thousands	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Fair value of derivative instruments
Current portion of fair value of derivative assets	$ 816,444	$ 422,849
Noncurrent portion of fair value of derivative assets	284,461	333,174
Current portion of fair value of derivative liabilities		6,721
Noncurrent portion of fair value of derivative liabilities	215	3,519
Commodity derivative
Fair value of derivative instruments
Total asset derivatives	1,100,905	756,023
Total liability derivatives	215	10,240
Derivatives not designated as hedges for accounting purposes
Fair value of derivative instruments
Total asset derivatives	1,100,905	756,023
Total liability derivatives	215	10,240
Net derivatives	1,100,690	745,783
Derivatives not designated as hedges for accounting purposes | Commodity derivative
Fair value of derivative instruments
Current portion of fair value of derivative assets	816,444	422,849
Noncurrent portion of fair value of derivative assets	284,461	333,174
Current portion of fair value of derivative liabilities		6,721
Noncurrent portion of fair value of derivative liabilities	$ 215	$ 3,519
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) - Commodity derivative - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Commodity derivative assets
Gross amounts on balance sheet	$ 1,193,046	$ 882,817
Gross amounts offset on balance sheet	(92,141)	(126,794)
Total asset derivatives	1,100,905	756,023
Commodity derivative liabilities
Gross amounts on balance sheet	(92,356)	(137,034)
Gross amounts offset on balance sheet	92,141	126,794
Total liability derivatives	$ (215)	$ (10,240)

Derivative Instruments - Fair_2

Derivative Instruments - Fair value gains (losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains (losses)	$ 565,833	$ (77,368)
Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains (losses)	$ 565,833	$ (77,368)

Leases (Details)

Leases (Details)	3 Months Ended
	Mar. 31, 2020
Leases
Options to renew - Operating lease	true
Options to renew - Finance lease	true
Minimum
Leases
Renewal terms - Operating lease	1 year
Renewal terms - Finance lease	1 year
Maximum
Leases
Renewal terms - Operating lease	20 years
Renewal terms - Finance lease	20 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Lease Assets
Operating leases right-of-use assets	$ 2,814,539	$ 2,886,500
Finance leases, right of use assets	2,058	2,498
Finance leases, accumulated amortization	3,000	9,000
Short-term lease liabilities, operating leases	294,535	304,397
Long-term lease liabilities, operating leases	2,520,004	2,582,103
Total lease liabilities, operating leases	2,814,539	2,886,500
Short-term lease liabilities, finance leases	1,123	923
Long-term lease liabilities, finance leases	935	1,575
Total	2,058	2,498
Vehicles
Lease Assets
Operating leases right-of-use assets	4,232	4,983
Finance leases, right of use assets	2,058	2,328
Other office and field equipment
Lease Assets
Operating leases right-of-use assets	1,013	166
Finance leases, right of use assets		170
Processing plants
Lease Assets
Operating leases right-of-use assets	1,440,110	1,460,770
Drilling and completion rigs
Lease Assets
Operating leases right-of-use assets	56,353	71,662
Gas gathering lines and compressor stations
Lease Assets
Operating leases right-of-use assets	1,273,200	1,308,428
Gas gathering lines and compressor stations | Antero Midstream Corporation
Lease Assets
Finance leases, accumulated amortization	1,100,000	1,100,000
Office space
Lease Assets
Operating leases right-of-use assets	$ 39,631	$ 40,491

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases
Total lease expense	$ 355,524	$ 198,592
Capitalized operating leases	33,000	55,000
Short-term lease costs	63,000	35,000
Cash paid for amounts included in the measurement of lease liabilities: Operating cash out flows related to operating leases	358,039	150,320
Cash paid for amounts included in the measurement of lease liabilities: Investing cash out flows related to operating leases	27,534	52,366
Cash paid for amounts included in the measurement of lease liabilities for operating leases	385,573	202,686
Cash paid for amounts included in the measurement of lease liabilities: Financing cash out flows related to financing leases	439	791
Cash paid for amounts included in the measurement of lease liabilities for finance leases	439	791
Leased assets obtained in exchange for new operating lease liabilities	9,382	3,345,549
Gathering, compression, water handling and treatment
Leases
Total lease expense	352,643	187,847
General and administrative
Leases
Total lease expense	2,881	2,726
Contract termination and rig stacking
Leases
Total lease expense		8,019
Maximum
Leases
Finance leases, interest expense	1,000	1,000
Capitalized finance leases	$ 1,000	$ 1,000

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Future minimum payments for operating lease liabilities
Remainder of 2020	$ 464,093
2021	558,241
2022	543,326
2023	538,771
2024	530,003
2025	457,326
Thereafter	1,394,412
Total lease payments	4,486,172
Less: imputed interest	(1,671,633)
Total lease liabilities, operating leases	2,814,539	$ 2,886,500
Future minimum payments for financing lease liabilities
Remainder of 2020	978
2021	844
2022	321
2023	7
Total lease payments	2,150
Less: imputed interest	(92)
Total	2,058	$ 2,498
Future minimum payments for total lease liabilities
Remainder of 2020	465,071
2021	559,085
2022	543,647
2023	538,778
2024	530,003
2025	457,326
Thereafter	1,394,412
Total lease payments	4,488,322
Less: imputed interest	(1,671,725)
Total	$ 2,816,597

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Mar. 31, 2020
Leases
Weighted-average remaining lease term: Operating lease	8 years 6 months
Weighted-average discount rate: Operating lease	11.60%
Weighted-average remaining lease term: Finance lease	2 years
Weighted-average discount rate: Finance lease	6.10%

Leases - Related party disclosu

Leases - Related party disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Leases
Amount included within accounts payable, related parties	$ 88,894		$ 97,883
Antero Midstream Corporation
Leases
Utilizing capacity (as a percent)	75.00%
Payment of capacity (as a percent)	70.00%
Term of lease	10 years
Notice period	180 days
Rebate received	$ 12,000
Gathering and compression fees paid	156,000	$ 152,000
Amount included within accounts payable, related parties	$ 60,000

Commitments (Details)

Commitments (Details) $ in Thousands	Mar. 31, 2020USD ($)
Future minimum payments
Remainder of 2020	$ 1,342,379
2021	1,694,719
2022	1,631,856
2023	1,654,493
2024	1,605,794
2025	1,482,602
Thereafter	8,430,190
Total	17,842,033
Firm transportation
Future minimum payments
Remainder of 2020	832,753
2021	1,076,995
2022	1,034,275
2023	1,057,150
2024	1,017,104
2025	977,891
Thereafter	6,930,640
Total	12,926,808
Gas processing, gathering and compression
Future minimum payments
Remainder of 2020	42,144
2021	55,780
2022	53,606
2023	58,565
2024	58,687
2025	47,385
Thereafter	105,138
Total	421,305
Land payment obligations
Future minimum payments
Remainder of 2020	2,411
2021	2,859
2022	328
Total	5,598
Operating and Financing Leases
Future minimum payments
Remainder of 2020	228,796
2021	269,661
2022	284,665
2023	313,475
2024	342,348
2025	308,465
Thereafter	1,069,187
Total	2,816,597
Imputed Interest for Leases
Future minimum payments
Remainder of 2020	236,275
2021	289,424
2022	258,982
2023	225,303
2024	187,655
2025	148,861
Thereafter	325,225
Total	$ 1,671,725

Contingencies (Details)

Contingencies (Details)

Jun. 20, 2019USD ($)

Feb. 01, 2018MMBTU / d

Jan. 31, 2018MMBTU / d

Jan. 31, 2018MMBTU / d

Mar. 31, 2020USD ($)

Mar. 31, 2019USD ($)

Nov. 30, 2017MMBTU / d

Jul. 31, 2017MMBTU / d

Dec. 31, 2019USD ($)

Nov. 30, 2018MMBTU / d

Mar. 31, 2018USD ($)

Mar. 31, 2017USD ($)

Contingencies

Revenue

$ 750,474,000

$ 1,114,668,000

Production and ad valorem taxes

25,699,000

35,678,000

Interest

(53,102,000)

(71,950,000)

Accrued revenue

201,320,000

$ 317,886,000

Accounts receivable

91,944,000

$ 46,419,000

Natural gas sales

Contingencies

Revenue

411,082,000

$ 657,266,000

Doddridge County, Tyler County and Ritchie County, West Virginia | Minimum

Contingencies

Settlement amount

$ 100,000

WGL

Contingencies

Natural gas long term purchase contract volume increase after specified events (in MMBtu)/day | MMBTU / d

530,000

Damages awarded

$ 96,000,000

WGL | Pending Litigation

Contingencies

Damages sought

$ 40,000,000

WGL | Pending Litigation | Minimum

Contingencies

Damages sought

$ 30,000,000

WGL - Braxton, West Virginia

Contingencies

Natural gas long term purchase contract volume (in MMBtu)/day | MMBTU / d

200,000

500,000

WGL - Loudoun County, Virginia

Contingencies

Natural gas long term purchase contract volume increase after specified events (in MMBtu)/day | MMBTU / d

330,000

Potential Positive Outcome of Litigation | WGL

Contingencies

Natural gas long term purchase contract volume (in MMBtu)/day | MMBTU / d

500,000

600,000

500,000

Contract Termination and Rig _2

Contract Termination and Rig Stacking (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Contract Termination and Rig Stacking
Costs for delay or cancelation of drilling and completion contracts with third-party contractors	$ 0	$ 8,360

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Sales and revenues:
Sales and revenues	$ 1,316,307	$ 1,032,825
Sales and revenues	1,317,105	1,037,407
Operating expenses:
Impairment of oil and gas properties	89,220	81,244
Impairment of midstream assets		6,982
Impairment of equity investments	610,632
Depletion, depreciation, and amortization	199,677	240,201
General and administrative	31,221	68,202
Other operating expenses	120,286	208,224
Total operating expenses	1,054,672	1,071,114
Operating income (loss)	262,433	(33,707)
Equity in earnings (loss) of unconsolidated affiliates	(128,055)	14,081
Investments in unconsolidated affiliates	291,989	1,989,612	$ 1,055,177
Segment assets	14,525,789	17,288,730	$ 15,197,569
Capital expenditures for segment assets	311,611	471,933
Marketing
Sales and revenues:
Sales and revenues	46,073
Operating expenses:
Other operating expenses	93,273
Total operating expenses	93,273
Operating income (loss)	(47,200)
Segment assets	9,639
Antero Midstream Corporation
Operating expenses:
Impairment of midstream assets	664,544
Depletion, depreciation, and amortization	27,343
General and administrative	10,199
Other operating expenses	4,878
Total operating expenses	762,872
Operating income (loss)	(519,164)
Equity in earnings (loss) of unconsolidated affiliates	19,077
Investments in unconsolidated affiliates	716,778
Segment assets	5,781,359
Capital expenditures for segment assets	67,983
Operating segments
Sales and revenues:
Sales and revenues		1,037,407
Operating segments | Exploration and production
Sales and revenues:
Sales and revenues	1,270,234	941,635
Sales and revenues	1,271,032	943,393
Operating expenses:
Impairment of oil and gas properties	89,220	81,244
Depletion, depreciation, and amortization	199,677	218,494
General and administrative	31,221	49,908
Other operating expenses	27,013	44,137
Total operating expenses	961,399	971,767
Operating income (loss)	309,633	(28,374)
Equity in earnings (loss) of unconsolidated affiliates	(128,055)	1,817
Investments in unconsolidated affiliates	291,989	1,989,612
Segment assets	14,516,150	17,263,369
Capital expenditures for segment assets	311,611	399,278
Operating segments | Marketing
Sales and revenues:
Sales and revenues		91,186
Sales and revenues	46,073	91,186
Operating expenses:
Other operating expenses		163,084
Total operating expenses		163,084
Operating income (loss)		(71,898)
Segment assets		25,361
Operating segments | Antero Midstream Corporation
Sales and revenues:
Sales and revenues		4
Sales and revenues	243,708	54,108
Operating expenses:
Impairment of midstream assets		6,982
Depletion, depreciation, and amortization		7,650
General and administrative		2,184
Other operating expenses		1,291
Total operating expenses		32,857
Operating income (loss)		21,251
Equity in earnings (loss) of unconsolidated affiliates		2,880
Investments in unconsolidated affiliates		1,153,943
Segment assets		6,660,325
Capital expenditures for segment assets		16,005
Elimination of intersegment transaction
Sales and revenues:
Sales and revenues	798	4,582
Sales and revenues	(243,708)	(51,280)
Operating expenses:
Impairment of midstream assets	(664,544)
Depletion, depreciation, and amortization	(27,343)	14,057
General and administrative	(10,199)	16,110
Other operating expenses	(4,878)	(288)
Total operating expenses	(762,872)	(96,594)
Operating income (loss)	519,164	45,314
Equity in earnings (loss) of unconsolidated affiliates	(19,077)	9,384
Investments in unconsolidated affiliates	(716,778)	(1,153,943)
Segment assets	(5,781,359)	(6,660,325)
Capital expenditures for segment assets	(67,983)	56,650
Elimination of intersegment transaction | Exploration and production
Sales and revenues:
Sales and revenues	798	1,758
Elimination of intersegment transaction | Antero Midstream Corporation
Sales and revenues:
Sales and revenues	243,708	54,104
Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	588,624	424,529
Gathering, compression, water handling and treatment | Antero Midstream Corporation
Operating expenses:
Cost of goods and services sold	55,908
Gathering, compression, water handling and treatment | Operating segments | Exploration and production
Operating expenses:
Cost of goods and services sold	588,624	535,015
Gathering, compression, water handling and treatment | Operating segments | Antero Midstream Corporation
Operating expenses:
Cost of goods and services sold		2,935
Gathering, compression, water handling and treatment | Elimination of intersegment transaction
Operating expenses:
Cost of goods and services sold	(55,908)	(113,421)
Lease operating
Operating expenses:
Cost of goods and services sold	25,644	41,732
Lease operating | Operating segments | Exploration and production
Operating expenses:
Cost of goods and services sold	$ 25,644	42,969
Lease operating | Operating segments | Antero Midstream Corporation
Operating expenses:
Cost of goods and services sold		11,815
Lease operating | Elimination of intersegment transaction
Operating expenses:
Cost of goods and services sold		$ (13,052)

Subsidiary Guarantors - Balance

Subsidiary Guarantors - Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Current assets:
Accounts receivable	$ 91,944	$ 46,419
Accounts receivable, related parties		125,000
Accrued revenue	201,320	317,886
Derivative instruments	816,444	422,849
Other current assets	10,313	10,731
Total current assets	1,120,021	922,885
Unproved properties	1,289,770	1,368,854
Proved properties	12,154,162	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,312	71,895
Property and equipment, gross	13,522,046	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,527,306)	(3,327,629)
Property and equipment, net	9,994,740	9,978,739
Operating leases right-of-use assets	2,814,539	2,886,500
Derivative instruments	284,461	333,174
Investments in unconsolidated affiliates	291,989	1,055,177	$ 1,989,612
Other assets	20,039	21,094
Total assets	14,525,789	15,197,569	$ 17,288,730
Liabilities and Stockholders' Equity
Accounts payable	37,909	14,498
Accounts payable, related parties	88,894	97,883
Accrued liabilities	367,444	400,850
Revenue distributions payable	174,654	207,988
Derivative instruments		6,721
Short-term lease liabilities	295,658	305,320
Other current liabilities	7,315	6,879
Total current liabilities	971,874	1,040,139
Long-term debt	3,707,787	3,758,868
Deferred income tax liability	672,002	781,987
Derivative instruments	215	3,519
Long-term lease liabilities	2,520,939	2,583,678
Other liabilities	60,432	58,635
Total liabilities	7,933,249	8,226,826
Common stock	2,689	2,959
Additional paid-in capital	6,091,242	6,130,365
Accumulated earnings	498,609	837,419
Total equity	6,592,540	6,970,743
Total liabilities and equity	14,525,789	15,197,569
Reportable legal entity | Parent (Antero)
Current assets:
Accounts receivable	91,944	46,419
Accounts receivable, related parties		125,000
Accrued revenue	201,320	317,886
Derivative instruments	816,444	422,849
Other current assets	10,313	10,731
Total current assets	1,120,021	922,885
Unproved properties	1,289,770	1,368,854
Proved properties	12,154,162	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,312	71,895
Property and equipment, gross	13,522,046	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,527,306)	(3,327,629)
Property and equipment, net	9,994,740	9,978,739
Operating leases right-of-use assets	2,814,539	2,886,500
Derivative instruments	284,461	333,174
Investment in consolidated affiliates	224,700	812,129
Investments in unconsolidated affiliates	67,289	243,048
Other assets	20,039	21,094
Total assets	14,525,789	15,197,569
Liabilities and Stockholders' Equity
Accounts payable	37,909	14,498
Accounts payable, related parties	421,247	397,333
Accrued liabilities	367,444	400,850
Revenue distributions payable	174,654	207,988
Derivative instruments		6,721
Short-term lease liabilities	295,658	305,320
Other current liabilities	7,315	6,879
Total current liabilities	1,304,227	1,339,589
Long-term debt	3,707,787	3,758,868
Deferred income tax liability	672,002	781,987
Derivative instruments	215	3,519
Long-term lease liabilities	2,520,939	2,583,678
Other liabilities	60,432	58,635
Total liabilities	8,265,602	8,526,276
Common stock	2,689	2,959
Additional paid-in capital	4,974,162	5,600,714
Accumulated earnings	1,283,336	1,067,620
Total equity	6,260,187	6,671,293
Total liabilities and equity	14,525,789	15,197,569
Reportable legal entity | Guarantor Subsidiaries
Current assets:
Accounts receivable, related parties	332,353	299,450
Total current assets	332,353	299,450
Investments in unconsolidated affiliates	224,700	812,129
Total assets	557,053	1,111,579
Liabilities and Stockholders' Equity
Additional paid-in capital	1,341,780	1,341,780
Accumulated earnings	(784,727)	(230,201)
Total equity	557,053	1,111,579
Total liabilities and equity	557,053	1,111,579
Eliminations
Current assets:
Accounts receivable, related parties	(332,353)	(299,450)
Total current assets	(332,353)	(299,450)
Investment in consolidated affiliates	(224,700)	(812,129)
Total assets	(557,053)	(1,111,579)
Liabilities and Stockholders' Equity
Accounts payable, related parties	(332,353)	(299,450)
Total current liabilities	(332,353)	(299,450)
Total liabilities	(332,353)	(299,450)
Additional paid-in capital	(224,700)	(812,129)
Total equity	(224,700)	(812,129)
Total liabilities and equity	$ (557,053)	$ (1,111,579)

Subsidiary Guarantors - Stateme

Subsidiary Guarantors - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue and other:
Revenue	$ 750,474	$ 1,114,668
Commodity derivative fair value gains (losses)	565,833	(77,368)
Total revenue and other	1,317,105	1,037,407
Operating expenses:
Production and ad valorem taxes	25,699	35,678
Impairment of oil and gas properties	89,220	81,244
Impairment of midstream assets		6,982
Impairment of equity investments	(610,632)
Depletion, depreciation, and amortization	199,677	240,201
Accretion of asset retirement obligations	1,104	976
General and administrative	31,221	68,202
Contract termination and rig stacking	0	8,360
Total operating expenses	1,054,672	1,071,114
Operating income (loss)	262,433	(33,707)
Equity in earnings (loss) of unconsolidated affiliates	(128,055)	14,081
Interest expense, net	(53,102)	(71,950)
Gain on early extinguishment of debt	80,561
Gain on deconsolidation of Antero Midstream Partners LP		1,406,042
Total other income (expenses)	(711,228)	1,348,173
Income (loss) before income taxes	(448,795)	1,314,466
Provision for income tax (expense) benefit	109,985	(288,710)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(338,810)	1,025,756
Net income and comprehensive income attributable to noncontrolling interests		46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	(338,810)	978,763
Natural gas sales
Revenue and other:
Revenue	411,082	657,266
Natural gas liquids sales
Revenue and other:
Revenue	257,673	313,685
Oil sales
Revenue and other:
Revenue	35,646	48,052
Commodity derivative fair value gains (losses)	35,646
Gathering, compression, water handling and treatment
Revenue and other:
Revenue		4,479
Commodity derivative fair value gains (losses)	565,833
Operating expenses:
Cost of goods and services sold	588,624	424,529
Marketing
Revenue and other:
Revenue	46,073	91,186
Operating expenses:
Cost of goods and services sold	93,273	163,084
Exploration
Operating expenses:
Cost of goods and services sold	210	126
Lease operating
Operating expenses:
Cost of goods and services sold	25,644	41,732
Other income
Revenue and other:
Revenue	798	107
Reportable legal entity | Parent (Antero)
Revenue and other:
Commodity derivative fair value gains (losses)	565,833	(77,368)
Total revenue and other	1,317,105	1,034,579
Operating expenses:
Production and ad valorem taxes	25,699	34,738
Impairment of oil and gas properties	89,220	81,244
Impairment of equity investments	(143,849)
Depletion, depreciation, and amortization	199,677	218,494
Accretion of asset retirement obligations	1,104	913
General and administrative	31,221	49,908
Contract termination and rig stacking		8,360
Total operating expenses	1,054,672	1,134,851
Operating income (loss)	262,433	(100,272)
Equity in earnings (loss) of unconsolidated affiliates	(40,312)	589
Interest expense, net	(53,102)	(55,135)
Gain on early extinguishment of debt	80,561
Equity in earnings (loss) of consolidated subsidiaries		15,021
Gain on deconsolidation of Antero Midstream Partners LP		1,205,705
Total other income (expenses)	(156,702)	1,166,180
Income (loss) before income taxes	105,731	1,065,908
Provision for income tax (expense) benefit	109,985	(288,710)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	215,716	777,198
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	215,716	777,198
Reportable legal entity | Parent (Antero) | Natural gas sales
Revenue and other:
Revenue	411,082	657,266
Reportable legal entity | Parent (Antero) | Natural gas liquids sales
Revenue and other:
Revenue	257,673	313,685
Reportable legal entity | Parent (Antero) | Oil sales
Revenue and other:
Revenue		48,052
Commodity derivative fair value gains (losses)	35,646
Reportable legal entity | Parent (Antero) | Gathering, compression, water handling and treatment
Revenue and other:
Commodity derivative fair value gains (losses)	565,833
Operating expenses:
Cost of goods and services sold	588,624	535,015
Reportable legal entity | Parent (Antero) | Marketing
Revenue and other:
Revenue	46,073	91,186
Operating expenses:
Cost of goods and services sold	93,273	163,084
Reportable legal entity | Parent (Antero) | Exploration
Operating expenses:
Cost of goods and services sold	210	126
Reportable legal entity | Parent (Antero) | Lease operating
Operating expenses:
Cost of goods and services sold	25,644	42,969
Reportable legal entity | Parent (Antero) | Other income
Revenue and other:
Revenue	798	1,758
Reportable legal entity | Guarantor Subsidiaries
Operating expenses:
Impairment of equity investments	(466,783)
Equity in earnings (loss) of unconsolidated affiliates	(87,743)	1,228
Gain on deconsolidation of Antero Midstream Partners LP		200,337
Total other income (expenses)	(554,526)	201,565
Income (loss) before income taxes	(554,526)	201,565
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(554,526)	201,565
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (554,526)	201,565
Reportable legal entity | Non-Guarantor Subsidiaries
Revenue and other:
Total revenue and other		218,360
Operating expenses:
Impairment of midstream assets		6,982
Depletion, depreciation, and amortization		21,707
Accretion of asset retirement obligations		63
General and administrative		18,793
Accretion of contingent acquisition consideration		1,928
Total operating expenses		114,291
Operating income (loss)		104,069
Equity in earnings (loss) of unconsolidated affiliates		12,264
Interest expense, net		(16,815)
Total other income (expenses)		(4,551)
Income (loss) before income taxes		99,518
Net income (loss) and comprehensive income (loss) including noncontrolling interests		99,518
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation		99,518
Reportable legal entity | Non-Guarantor Subsidiaries | Gathering, compression, water handling and treatment
Revenue and other:
Revenue		218,360
Reportable legal entity | Non-Guarantor Subsidiaries | Lease operating
Operating expenses:
Cost of goods and services sold		64,818
Eliminations
Revenue and other:
Total revenue and other		(215,532)
Operating expenses:
Production and ad valorem taxes		940
General and administrative		(499)
Accretion of contingent acquisition consideration		(1,928)
Total operating expenses		(178,028)
Operating income (loss)		(37,504)
Equity in earnings (loss) of consolidated subsidiaries		(15,021)
Total other income (expenses)		(15,021)
Income (loss) before income taxes		(52,525)
Net income (loss) and comprehensive income (loss) including noncontrolling interests		(52,525)
Net income and comprehensive income attributable to noncontrolling interests		46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation		(99,518)
Eliminations | Gathering, compression, water handling and treatment
Revenue and other:
Revenue		(213,881)
Operating expenses:
Cost of goods and services sold		(110,486)
Eliminations | Lease operating
Operating expenses:
Cost of goods and services sold		(66,055)
Eliminations | Other income
Revenue and other:
Revenue		$ (1,651)

Subsidiary Guarantors - Cash Fl

Subsidiary Guarantors - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests	$ (338,810)	$ 1,025,756
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, amortization, and accretion	200,781	241,177
Impairments		88,226
Impairment of oil and gas properties	89,220	81,244
Commodity derivative fair value (gains) losses	(565,833)	77,368
Gains on settled commodity derivatives	210,926	97,092
Deferred income tax expense (benefit)	(109,985)	287,854
Equity-based compensation expense	3,329	8,903
Gain on early extinguishment of debt	80,561
Impairment of equity investments	610,632
Equity in earnings (loss) of unconsolidated affiliates	128,055	(14,081)
Distributions/dividends of earnings from unconsolidated affiliates	42,756	12,605
Gain on deconsolidation of Antero Midstream Partners LP		(1,406,042)
Other	2,440	11,081
Changes in current assets and liabilities	7,727	109,065
Net cash provided by operating activities	200,677	539,004
Cash flows provided by (used in) investing activities:
Additions to unproved properties	(10,357)	(27,463)
Drilling and completion costs	(300,483)	(368,687)
Additions to water handling and treatment systems		(24,416)
Additions to gathering systems and facilities		(48,239)
Additions to other property and equipment	(771)	(3,128)
Settlement of water earnout	125,000
Investments in unconsolidated affiliates		(25,020)
Proceeds from the Antero Midstream Partners LP Transactions		296,611
Change in other assets	(70)	(4,475)
Net cash used in investing activities	(186,681)	(204,817)
Cash flows provided by (used in) financing activities:
Repurchases of common stock	(42,690)
Issuance of senior notes		650,000
Repayment of senior notes	(300,835)
Borrowings (repayments) on bank credit facilities, net	330,000	(270,000)
Payments of deferred financing costs		(8,259)
Distributions to noncontrolling interests in Antero Midstream Partners LP		(85,076)
Employee tax withholding for settlement of equity compensation awards	(32)	(479)
Other	(439)	(841)
Net cash provided by financing activities	(13,996)	285,345
Effect of deconsolidation of Antero Midstream Partners LP		(619,532)
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Reportable legal entity | Parent (Antero)
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests	215,716	777,198
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, amortization, and accretion	200,781	219,407
Impairments		81,244
Impairment of oil and gas properties	89,220	81,244
Commodity derivative fair value (gains) losses	(565,833)	77,368
Gains on settled commodity derivatives	210,926	97,092
Deferred income tax expense (benefit)	(109,985)	287,854
Equity-based compensation expense	3,329	6,426
Gain on early extinguishment of debt	80,561
Equity in earnings of consolidated subsidiaries		(15,021)
Impairment of equity investments	143,849
Equity in earnings (loss) of unconsolidated affiliates	40,312	(589)
Distributions/dividends of earnings from unconsolidated affiliates	42,756
Gain on deconsolidation of Antero Midstream Partners LP		(1,205,705)
Distributions from Antero Midstream Partners LP		46,469
Other	2,440	10,331
Changes in current assets and liabilities	7,727	102,830
Net cash provided by operating activities	200,677	484,904
Cash flows provided by (used in) investing activities:
Additions to unproved properties	(10,357)	(27,463)
Drilling and completion costs	(300,483)	(389,252)
Additions to other property and equipment	(771)	(2,066)
Settlement of water earnout	125,000
Proceeds from the Antero Midstream Partners LP Transactions		296,611
Change in other assets	(70)	(1,118)
Net cash used in investing activities	(186,681)	(123,288)
Cash flows provided by (used in) financing activities:
Repurchases of common stock	(42,690)
Repayment of senior notes	(300,835)
Borrowings (repayments) on bank credit facilities, net	330,000	(360,379)
Payments of deferred financing costs		(791)
Employee tax withholding for settlement of equity compensation awards	(32)	(450)
Other	(439)	4
Net cash provided by financing activities	(13,996)	(361,616)
Reportable legal entity | Guarantor Subsidiaries
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(554,526)	201,565
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Impairment of equity investments	466,783
Equity in earnings (loss) of unconsolidated affiliates	$ 87,743	(1,228)
Gain on deconsolidation of Antero Midstream Partners LP		(200,337)
Reportable legal entity | Non-Guarantor Subsidiaries
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests		99,518
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, amortization, and accretion		21,770
Impairments		6,982
Equity-based compensation expense		2,477
Equity in earnings (loss) of unconsolidated affiliates		(12,264)
Distributions/dividends of earnings from unconsolidated affiliates		12,605
Other		750
Changes in current assets and liabilities		(10,573)
Net cash provided by operating activities		121,265
Cash flows provided by (used in) investing activities:
Additions to water handling and treatment systems		(24,547)
Additions to gathering systems and facilities		(48,239)
Additions to other property and equipment		(1,062)
Investments in unconsolidated affiliates		(25,020)
Change in other assets		(3,357)
Net cash used in investing activities		(102,225)
Cash flows provided by (used in) financing activities:
Issuance of senior notes		650,000
Borrowings (repayments) on bank credit facilities, net		90,379
Payments of deferred financing costs		(7,468)
Distributions to noncontrolling interests in Antero Midstream Partners LP		(131,545)
Employee tax withholding for settlement of equity compensation awards		(29)
Other		(845)
Net cash provided by financing activities		600,492
Effect of deconsolidation of Antero Midstream Partners LP		(619,532)
Eliminations
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests		(52,525)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Equity in earnings of consolidated subsidiaries		15,021
Distributions from Antero Midstream Partners LP		(46,469)
Changes in current assets and liabilities		16,808
Net cash provided by operating activities		(67,165)
Cash flows provided by (used in) investing activities:
Drilling and completion costs		20,565
Additions to water handling and treatment systems		131
Net cash used in investing activities		20,696
Cash flows provided by (used in) financing activities:
Distributions to noncontrolling interests in Antero Midstream Partners LP		46,469
Net cash provided by financing activities		$ 46,469