Antero Resources (AR) 10-Q29 Jul 202020 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Jul. 24, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 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	(Zip Code)
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		268,548,938
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001433270
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Accounts receivable	$ 57,013	$ 46,419
Accounts receivable, related parties		125,000
Accrued revenue	254,863	317,886
Derivative instruments	521,459	422,849
Other current assets	8,942	10,731
Total current assets	842,277	922,885
Oil and gas properties, at cost (successful efforts method):
Unproved properties	1,277,476	1,368,854
Proved properties	11,989,302	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,649	71,895
Property and equipment, gross	13,345,229	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,408,099)	(3,327,629)
Property and equipment, net	9,937,130	9,978,739
Operating leases right-of-use assets	2,562,945	2,886,500
Derivative instruments	103,514	333,174
Investment in unconsolidated affiliate	279,805	1,055,177
Other assets	18,319	21,094
Total assets	13,743,990	15,197,569
Current liabilities:
Accounts payable	36,736	14,498
Accounts payable, related parties	73,375	97,883
Accrued liabilities	339,388	400,850
Revenue distributions payable	173,759	207,988
Derivative instruments	3,652	6,721
Short-term lease liabilities	230,499	305,320
Other current liabilities	6,831	6,879
Total current liabilities	864,240	1,040,139
Long-term liabilities:
Long-term debt	3,518,076	3,758,868
Deferred income tax liability	529,598	781,987
Derivative instruments	2,558	3,519
Long-term lease liabilities	2,334,227	2,583,678
Other liabilities	62,312	58,635
Total liabilities	7,311,011	8,226,826
Commitments and contingencies (Notes 14 and 15)
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 268,390 shares issued and outstanding at December 31, 2019 and June 30, 2020, respectively	2,684	2,959
Additional paid-in capital	6,098,167	6,130,365
Accumulated earnings	35,305	837,419
Total stockholders' equity	6,136,156	6,970,743
Noncontrolling interests	296,823
Total equity	6,432,979	6,970,743
Total liabilities and equity	$ 13,743,990	$ 15,197,569

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 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	268,390,000	295,941,000
Common stock, shares outstanding	268,390,000	295,941,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue and other:
Revenue	$ 652,219	$ 969,477	$ 1,402,693	$ 2,084,145
Commodity derivative fair value gains (losses)	(168,015)	328,427	397,818	251,059
Total revenue	484,911	1,299,664	1,802,016	2,337,071
Operating expenses:
Production and ad valorem taxes	19,992	30,968	45,691	66,646
Impairment of oil and gas properties	37,350	130,999	126,570	212,243
Impairment of midstream assets				6,982
Depletion, depreciation, and amortization	214,035	242,302	413,712	482,503
Loss on sale of assets		951		951
Accretion of asset retirement obligations	1,111	918	2,215	1,894
General and administrative	38,403	42,382	69,624	110,584
Contract termination and rig stacking	11,071	5,604	11,071	13,964
Total operating expenses	1,091,833	1,199,668	2,146,505	2,270,782
Operating income (loss)	(606,922)	99,996	(344,489)	66,289
Other income (expenses):
Equity in earnings (loss) of unconsolidated affiliates	20,228	13,585	(107,827)	27,666
Impairment of equity investment			(610,632)
Gain on deconsolidation of Antero Midstream Partners LP				1,406,042
Transaction expense	(6,138)		(6,138)
Interest expense, net	(51,811)	(54,164)	(104,913)	(126,114)
Gain on early extinguishment of debt	39,171		119,732
Total other income (expenses)	1,450	(40,579)	(709,778)	1,307,594
Income (loss) before income taxes	(605,472)	59,417	(1,054,267)	1,373,883
Provision for income tax (expense) benefit	142,404	(17,249)	252,389	(305,959)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(463,068)	42,168	(801,878)	1,067,924
Less: Net income and comprehensive income attributable to noncontrolling interests	236		236	46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (463,304)	$ 42,168	$ (802,114)	$ 1,020,931
Income (loss) per share-basic	$ (1.73)	$ 0.14	$ (2.90)	$ 3.31
Income (loss) per share-diluted	$ (1.73)	$ 0.14	$ (2.90)	$ 3.30
Weighted average number of shares outstanding:
Basic (in shares)	268,386	309,062	276,306	308,879
Diluted (in shares)	268,386	309,137	276,306	309,082
Natural gas sales
Revenue and other:
Revenue	$ 367,415	$ 553,372	$ 778,497	$ 1,210,638
Natural gas liquids sales
Revenue and other:
Revenue	212,197	303,963	469,870	617,648
Oil sales
Revenue and other:
Revenue	8,322	49,062	43,968	97,114
Gathering, compression, water handling and treatment
Revenue and other:
Revenue				4,479
Operating expenses:
Cost of goods and services sold	631,845	566,834	1,220,469	991,363
Marketing
Revenue and other:
Revenue	64,285	63,080	110,358	154,266
Operating expenses:
Cost of goods and services sold	113,053	137,539	206,326	300,623
Other income
Revenue and other:
Revenue	707	1,760	1,505	1,867
Lease operating
Operating expenses:
Cost of goods and services sold	24,742	40,857	50,386	82,589
Exploration
Operating expenses:
Cost of goods and services sold	$ 231	$ 314	$ 441	$ 440

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Equity-based compensation expense	$ 7,973	$ 6,549	$ 11,302	$ 15,452

Condensed Consolidated Statem_3

Condensed Consolidated Statement 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, 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
Net income (loss) and comprehensive income (loss)					1,067,924
Balance at Jun. 30, 2019	$ 3,091	6,138,130	2,198,479		8,339,700
Balance (in shares) at Jun. 30, 2019	309,123
Balances at Mar. 31, 2019	$ 3,087	6,133,400	2,156,311		8,292,798
Balances (in shares) at Mar. 31, 2019	308,741
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 4	(1,819)			(1,815)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	382
Equity-based compensation		6,549			6,549
Net income (loss) and comprehensive income (loss)			42,168		42,168
Balance at Jun. 30, 2019	$ 3,091	6,138,130	2,198,479		8,339,700
Balance (in shares) at Jun. 30, 2019	309,123
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
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
Net income (loss) and comprehensive income (loss)					(801,878)
Balance at Jun. 30, 2020	$ 2,684	6,098,167	35,305	296,823	6,432,979
Balance (in shares) at Jun. 30, 2020	268,390,000
Balances at Mar. 31, 2020	$ 2,689	6,091,242	498,609		6,592,540
Balances (in shares) at Mar. 31, 2020	268,926,000
Increase (Decrease) in Stockholders' Equity
Issuance of common units in Martica Holdings, LLC				300,000	300,000
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 5	(305)			(300)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	464,000
Repurchases and retirements of common stock	$ (10)	(743)			(753)
Repurchases and retirements of common stock (in shares)	(1,000,000)
Equity-based compensation		7,973			7,973
Net income (loss) and comprehensive income (loss)			(463,304)	236	(463,068)
Distributions to non-controlling interests				(3,413)	(3,413)
Balance at Jun. 30, 2020	$ 2,684	$ 6,098,167	$ 35,305	$ 296,823	$ 6,432,979
Balance (in shares) at Jun. 30, 2020	268,390,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests	$ (801,878)	$ 1,067,924
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion	415,927	484,397
Impairment of oil and gas properties	126,570	212,243
Impairment of midstream assets		6,982
Commodity derivative fair value gains	(397,818)	(251,059)
Gains on settled commodity derivatives	524,838	141,791
Loss on sale of assets		951
Equity-based compensation expense	11,302	15,452
Deferred income tax expense (benefit)	(252,389)	304,963
Gain on early extinguishment of debt	(119,732)
Equity in (earnings) loss of unconsolidated affiliates	107,827	(27,666)
Impairment of equity investment	(610,632)
Gain on deconsolidation of Antero Midstream Partners LP		(1,406,042)
Distributions/dividends of earnings from unconsolidated affiliates	85,511	60,527
Other	4,433	5,670
Changes in current assets and liabilities:
Accounts receivable	(27,329)	5,848
Accrued revenue	63,023	166,066
Other current assets	789	2,307
Accounts payable including related parties	(21,182)	(2,424)
Accrued liabilities	15,722	(22,146)
Revenue distributions payable	(29,560)	(9,795)
Other current liabilities	(46)	1,119
Net cash provided by operating activities	316,640	757,108
Cash flows provided by (used in) investing activities:
Additions to unproved properties	(21,672)	(56,814)
Drilling and completion costs	(552,227)	(680,088)
Additions to water handling and treatment systems		(24,416)
Additions to gathering systems and facilities		(48,239)
Additions to other property and equipment	(1,234)	(4,629)
Settlement of water earnout	125,000
Investments in unconsolidated affiliates		(25,020)
Proceeds from the Antero Midstream Partners LP Transactions		296,611
Proceeds from asset sales		1,983
Change in other assets	525	(4,974)
Net cash used in investing activities	(449,608)	(545,586)
Cash flows provided by (used in) financing activities:
Repurchases of common stock	(43,443)
Issuance of senior notes		650,000
Repayment of senior notes	(496,541)
Borrowings (repayments) on bank credit facilities, net	374,000	(145,000)
Payments of deferred financing costs		(8,259)
Sale of noncontrolling interest	300,000
Distributions to noncontrolling interests in Antero Midstream Partners LP		(85,076)
Employee tax withholding for settlement of equity compensation awards	(331)	(2,295)
Other	(717)	(1,360)
Net cash provided by financing activities	132,968	408,010
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	101,885	119,180
Decrease in accounts payable and accrued liabilities for additions to property and equipment	$ 61,305	$ 33,240

Organization

Organization	6 Months Ended
Organization	Jun. 30, 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	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 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 June 30, 2020, its results of operations for the three and six months ended June 30, 2019 and 2020 and its cash flows for the six months ended June 30, 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 June 30, 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—Deconsolidation of Antero Midstream Partners LP 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—Deconsolidation of Antero Midstream Partners LP 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—Deconsolidation of Antero Midstream Partners LP to the unaudited condensed consolidated financial statements for further discussion on the Transactions. For the three months and six months ended June 30, 2020, we have determined that Martica Holdings LLC (“Martica”) is a VIE for which Antero is the primary beneficiary. Therefore, Martica’s accounts are consolidated in the Company’s consolidated financial statements. Antero is the primary beneficiary of Martica based on its power to direct the activities that most significantly impact Martica’s economic performance, and its obligation to absorb losses of, or right to receive benefits from, Martica that could be significant to Martica. In reaching such determination that Antero is the primary beneficiary of Martica, the Company considered the following: ● Martica was formed to hold certain overriding royalty interests across the Company’s existing asset base; ● substantially all of Martica’s revenues are derived from production from the Company’s natural gas, NGLs, and oil properties in the Appalachian Basin in West Virginia and Ohio; ● Antero owns the Class B Units in Martica, which entitle Antero to receive distributions in respect of the Incremental Override (as defined in Note 4—Conveyance of Overriding Royalty Interest); and ● Antero provides accounting, administrative and other services to Martica under a Management Services Agreement. 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 six months ended June 30, 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. The noncontrolling interest in the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2020 represents the interest in Martica owned by third parties. See Note 4—Conveyance of Overriding Royalty Interest for more information on the sale of this noncontrolling interest. Martica is a discrete entity and the assets and credit of Martica are not available to satisfy the debts and obligations of the Company or its other subsidiaries. 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 June 30, 2020, the book overdraft included within revenue distributions payable was $5 million and no overdraft was included in accounts payable. (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 and six months ended June 30, 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. For the three months ended June 30, 2019 and 2020, impairment of oil and gas properties was $131 million and $37 million, respectively. For the six months ended June 30, 2019 and 2020, impairment of oil and gas properties was $212 million and $127 million, 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 primarily 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 financial statements for further discussion on the Transactions and Note 18—Segment information 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 unaudited 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—Deconsolidation of Antero Midstream Partners LP to the unaudited condensed consolidated financial statements for further discussion on the Transactions and Note 18—Segment Information 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 June 30, Six months ended June 30, 2019 2020 2019 2020 Basic weighted average number of shares outstanding 309,062 268,386 308,879 276,306 Add: Dilutive effect of restricted stock units 33 — 48 — Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of performance stock units 42 — 155 — Diluted weighted average number of shares outstanding 309,137 268,386 309,082 276,306 Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1) Restricted stock units 2,284 6,165 1,877 5,697 Outstanding stock options 538 454 554 454 Performance stock units 2,592 1,595 1,996 1,595 (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	6 Months Ended
Deconsolidation of Antero Midstream Partners LP	Jun. 30, 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 6—Equity Method Investments 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.

Conveyance of Overriding Intere

Conveyance of Overriding Interest	6 Months Ended
Conveyance of Overriding Interest	Jun. 30, 2020
Conveyance of Overriding Interest
Conveyance of Overriding Interest	(4) Conveyance of Overriding Royalty Interest On June 15, 2020, the Company announced the consummation of a transaction with an affiliate of Sixth Street Partners, LLC (“Sixth Street”) relating to certain overriding royalty interests across the Company’s existing asset base (the “ORRIs”). In connection with the transaction, the Company contributed the ORRIs to Martica and Sixth Street contributed $300 million in cash (subject to customary adjustments) and agreed to contribute up to an additional $102 million in cash if certain production targets attributable to the ORRIs are achieved. All cash contributed by Sixth Street was distributed to the Company. The ORRIs include an overriding royalty interest of 1.25% of the Company’s working interest in all of its proved operated developed properties in West Virginia and Ohio, subject to certain excluded wells (the “Initial PDP Override”), and an overriding royalty interest of 3.75% of the Company’s working interest in all of its undeveloped properties in West Virginia and Ohio (the “Development Override”). Wells turned to sales after April 1, 2020 and prior to the later of (a) the date on which the Company turns to sales 2.2 million lateral feet (net to the Company’s interest) of horizontal wells burdened by the Development Override and (b) the earlier of (i) April 1, 2023 and (ii) the date on which the Company turns to sales 3.82 million lateral feet (net to the Company’s interest) of horizontal wells are subject to the Development Override. The ORRIs also include an additional overriding royalty interest of 2.00% of the Company’s working interest in the properties underlying the Initial PDP Override (the “Incremental Override”). The Incremental Override (or a portion thereof, as applicable) may be re-conveyed to the Company (at the Company’s election) if certain production targets attributable to the ORRIs are achieved through March 31, 2023. Any portion of the Incremental Override that may not be re-conveyed to the Company based on the Company achieving such production volumes through March 31, 2023 will remain with Martica. Prior to Sixth Street achieving an internal rate of return of 13% and 1.5 x cash-on-cash return (the “Hurdle”), Sixth Street will receive all distributions in respect of the Initial PDP Override and the Development Override, and the Company will receive all distributions in respect of the Incremental Override, unless certain production targets are not achieved, in which case Sixth Street will receive some or all of the distributions in respect of the Incremental Override. Following Sixth Street achieving the Hurdle, the Company will receive 85% of the distributions in respect of the ORRIs to which Sixth Street was entitled immediately prior to the Hurdle being achieved. The conveyance of the ORRIs from the Company to Martica was accounted for as a transaction between entities under common control. As a result, the contributed ORRIs have been recorded by Martica at their historical cost.

Revenue

Revenue	6 Months Ended
Revenue	Jun. 30, 2020
Revenue
Revenue	(5) 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 18—Segment Information. Three months ended June 30, Six months ended June 30, Segment to which (in thousands) 2019 2020 2019 2020 revenues relate Revenues from contracts with customers: Natural gas sales $ 553,372 367,415 $ 1,210,638 778,497 Exploration and production Natural gas liquids sales (ethane) 30,374 26,644 65,890 53,440 Exploration and production Natural gas liquids sales (C3+ NGLs) 273,589 185,553 551,758 416,430 Exploration and production Oil sales 49,062 8,322 97,114 43,968 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 63,080 64,285 154,266 110,358 Marketing Total revenue from contracts with customers 969,477 652,219 2,084,145 1,402,693 Income from derivatives and other sources 330,187 (167,308) 252,926 399,323 Total revenue and other $ 1,299,664 484,911 $ 2,337,071 1,802,016 (1) Gathering and compression and water handling and treatment revenues were included through March 12, 2019. See Note 3—Deconsolidation of Antero Midstream Partners 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 June 30, 2020, our receivables from contracts with customers were $318 million and $255 million, respectively.

Equity Method Investments

Equity Method Investments	6 Months Ended
Equity Method Investments	Jun. 30, 2020
Equity Method Investments.
Equity Method Investments	(6) Equity Method Investments At June 30, 2020, the Company owned approximately 29.2 % 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—Deconsolidation of Antero Midstream Partners 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 six months ended June 30, 2020 (in thousands): Antero Midstream Corporation Balance at December 31, 2019 $ 1,055,177 Equity in loss of unconsolidated affiliates (107,827) Distributions/dividends from unconsolidated affiliates (85,511) Impairment (1) (610,632) Elimination of intercompany profit 28,598 Balance at June 30, 2020 $ 279,805 (1) Other-than-temporary impairment of investment in Antero Midstream Corporation. Summarized Financial Information of Antero Midstream Corporation The following tables present summarized financial information of Antero Midstream Corporation. Balance Sheet December 31, June 30, (in thousands) 2019 2020 Current assets $ 108,558 100,669 Noncurrent assets 6,174,320 5,614,386 Total assets $ 6,282,878 5,715,055 Current liabilities $ 242,084 98,145 Noncurrent liabilities 2,897,380 3,093,728 Stockholders' equity 3,143,414 2,523,182 Total liabilities and stockholders' equity $ 6,282,878 5,715,055 Statement of Operations For the period March 13, 2019 Six months through ended (in thousands) June 30, 2019 June 30, 2020 Revenues $ 309,726 463,444 Operating expenses 168,056 847,882 Income (loss) from operations $ 141,670 (384,438) Net income (loss) attributable to the equity method investment $ 92,471 (304,492)

Accrued Liabilities

Accrued Liabilities	6 Months Ended
Accrued Liabilities	Jun. 30, 2020
Accrued Liabilities
Accrued Liabilities	(7) Accrued Liabilities Accrued liabilities as of December 31, 2019 and June 30, 2020 consisted of the following items (in thousands): December 31, June 30, 2019 2020 Capital expenditures $ 105,706 47,026 Gathering, compression, processing, and transportation expenses 134,153 159,828 Marketing expenses 52,612 48,122 Interest expense, net 30,834 26,795 Other 77,545 57,617 Total accrued liabilities $ 400,850 339,388

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Jun. 30, 2020
Long-Term Debt.
Long-Term Debt	(8) Long-Term Debt Long-term debt as of December 31, 2019 and June 30, 2020 consisted of the following items (in thousands): December 31, June 30, 2019 2020 Credit Facility (a) $ 552,000 926,000 5.375% senior notes due 2021 (b) 952,500 516,202 5.125% senior notes due 2022 (c) 923,041 756,030 5.625% senior notes due 2023 (d) 750,000 743,690 5.00% senior notes due 2025 (e) 600,000 590,000 Net unamortized premium 791 542 Net unamortized debt issuance costs (19,464) (14,388) Long-term debt $ 3,758,868 3,518,076 (a) Senior Secured Revolving Credit Facility Antero Resources has a senior secured revolving credit facility (the “Credit Facility”) with a consortium of bank lenders. Borrowings under the Credit Facility are subject to borrowing base limitations based on the collateral value of Antero Resources’ assets and are subject to regular semi-annual redeterminations. The borrowing base is $2.85 billion and lender commitments are $2.64 billion. 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. As of June 30, 2020, Antero Resources had an outstanding balance under the Credit Facility of $926 million, with a weighted average interest rate of 3.32%, 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 0.300% to 0.375% (subject to certain exceptions) of the unused portion based on utilization. (b) 5.375% Senior Notes Due 2021 On November 5, 2013, Antero Resources issued $1.0 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 a redemption price of 100.00 %. 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 101.406% 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 103.75% 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) Debt Repurchase Program During the three and six months ended June 30, 2020, Antero Resources repurchased $236 million and $619 million, respectively, principal amount of debt at a weighted average discount of 17% and 19% , respectively, which purchases included a portion of the 2021 notes, the 2022 notes, the 2023 notes and the 2025 notes. The Company recognized a gain of approximately 30, 2020, respectively, on the early extinguishment of the debt repurchased.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
Asset Retirement Obligations	Jun. 30, 2020
Asset Retirement Obligations
Asset Retirement Obligations	(9) Asset Retirement Obligations The following is a reconciliation of the Company’s asset retirement obligations for the six months ended June 30, 2020 (in thousands): Asset retirement obligations—December 31, 2019 $ 54,845 Obligations incurred 1,308 Accretion expense 2,215 Settlement of obligations (229) Asset retirement obligations—June 30, 2020 $ 58,139 Asset retirement obligations are included in other liabilities on the Company’s unaudited condensed consolidated balance sheets.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
Equity-Based Compensation	Jun. 30, 2020
Equity-Based Compensation
Equity-Based Compensation	(10) Equity-Based Compensation On June 17, 2020, Antero Resources’ stockholders approved the Antero Resources Corporation 2020 Long-Term Incentive Plan (the “2020 Plan”), which replaced the Antero Resources Corporation Long-Term Incentive Plan (the “2013 Plan”), and the 2020 Plan became effective as of such date. The 2020 Plan provides for grants of stock options (including incentive stock options), stock appreciation rights, restricted stock awards, restricted stock unit awards, vested stock awards, dividend equivalent awards, and other stock-based and cash awards. The terms and conditions of the awards granted are established by the Compensation Committee of Antero Resources’ Board of Directors. Employees, officers, non-employee directors and other service providers of the Company and its affiliates are eligible to receive awards under the 2020 Plan. No further awards will be granted under the 2013 Plan on or after June 17, 2020. The 2020 Plan provides for the reservation of 10,050,000 shares of the Company’s common stock, plus the number of certain shares that become available again for delivery from the 2013 Plan in accordance with the share recycling provisions described below. The share recycling provisions allow for all or any portion of an award (including an award granted under the 2013 Plan that was outstanding as of June 17, 2020) that expires or is cancelled, forfeited, exchanged, settled for cash, or otherwise terminated without actual delivery of the shares to be considered not delivered and thus available for new awards under the 2020 Plan. Further, any shares withheld or surrendered in payment of any taxes relating to awards that were outstanding under either the 2013 Plan as of June 17, 2020 or are granted under the 2020 Plan (other than stock options and stock appreciation rights) will again be available for new awards under the 2020 Plan. A total of 10,050,833 shares were available for future grant under the 2020 Plan as of June 30, 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 and six months ended June 30, 2019 and 2020 (in thousands): Three months ended June 30, Six months ended June 30, 2019 2020 2019 2020 Restricted stock unit awards $ 2,624 4,080 $ 6,600 5,958 Stock options 45 — 389 — Performance share unit awards 2,666 2,631 5,628 3,553 Antero Midstream Partners phantom unit awards (1) 949 1,262 2,075 1,422 Equity awards issued to directors 265 — 760 369 Total expense $ 6,549 7,973 $ 15,452 11,302 (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—Deconsolidation of Antero Midstream Partners LP 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 six months ended June 30, 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 (872,749) $ 13.50 Forfeited (111,014) $ 12.53 Total awarded and unvested—June 30, 2020 6,031,746 $ 4.69 $ 15,321 Intrinsic values are based on the closing price of Antero Resources’ common stock on the referenced dates. As of June 30, 2020, there was approximately $24 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 2.1 years. Stock Options A summary of stock option activity for the six months ended June 30, 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 — $ — Expired (13,172) $ 51.50 Outstanding at June 30, 2020 454,461 $ 50.61 4.35 $ — Vested or expected to vest as of June 30, 2020 454,461 $ 50.61 4.35 $ — Exercisable at June 30, 2020 454,461 $ 50.61 4.35 $ — 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 June 30, 2020, all stock options were fully vested resulting in no unamortized equity-based compensation expense. Performance Share Unit Awards As of June 30, 2020, there was approximately $11 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 1.4 years. Cash Awards In January 2020, the Company granted cash awards of approximately $3.3 million to certain executives under the 2013 Plan. Compensation expense for these awards is recognized ratably over the vesting period for each of three tranches through January 20, 2023. As of June 30, 2020, the Company has accrued approximately $1.2 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 six months ended June 30, 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 (293,868) $ 14.13 Forfeited (22,577) $ 14.09 Total awarded and unvested—June 30, 2020 341,312 $ 15.24 $ 1,741 Intrinsic values are based on the closing price of shares of Antero Midstream Corporation common stock. As of June 30, 2020, there was approximately $4 million of unamortized equity-based compensation expense related to unvested phantom unit awards. That expense is expected to be recognized over a weighted average period of approximately 1.3 years.

Financial Instruments

Financial Instruments	6 Months Ended
Financial Instruments	Jun. 30, 2020
Financial Instruments
Financial Instruments	(11) Financial Instruments The carrying values of accounts receivable and accounts payable at December 31, 2019 and June 30, 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 June 30, 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 $1.8 billion at December 31, 2019 and June 30, 2020, respectively. See Note 12—Derivative Instruments to the unaudited condensed consolidated financial statements for information regarding the fair value of derivative financial instruments.

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Jun. 30, 2020
Derivative Instruments.
Derivative Instruments	(12) 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 six months ended June 30, 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 June 30, 2020, the Company’s fixed price natural gas, oil and NGL swap positions from July 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; OPIS Ethane Mt Belv=Mont Belvieu Purity Ethane-OPIS): Natural Gas Weighted Natural gas Liquids Oil average index MMBtu/day Bbls/day Bbls/day price Six months ending December 31, 2020: NYMEX ($/MMBtu) 2,227,500 — — $ 2.87 ARA Propane ($/Gal) — 10,315 — 0.65 OPIS Ethane Mt Belv ($/Gal) — 24,500 — 0.20 NYMEX-WTI ($/Bbl) — — 26,000 55.63 Total 2,227,500 34,815 26,000 Three months ending March 31, 2021 OPIS Ethane Mt Belv ($/Gal) 18,791 $ 0.20 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) 1,307,500 $ 2.44 Year ending December 31, 2023: NYMEX ($/MMBtu) 150,000 $ 2.38 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 $2.77 per MMBtu for the year ending December 31, 2024. As of June 30, 2020, the Company’s natural gas basis swap positions, which settle on the pricing index to basis differential of the Columbia Gas Transmission pipeline (“TCO”) to the NYMEX Henry Hub natural gas price were as follows: Weighted Natural gas average hedged MMBtu/day differential Six months ending December 31, 2020: NYMEX to TCO ($/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 June 30, 2020, the Company had NGL contracts for July 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 Six months ending December 31, 2020: Mont Belvieu Natural Gasoline to NYMEX-WTI 11,800 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 ($/Bbl) in 2020 are intended to fix the price of Natural Gasoline. As of June 30, 2020, the Company’s consolidated subsidiary Martica’s fixed price natural gas, oil and NGL swap positions from July 1, 2020 through March 31, 2025 were as follows (abbreviations in the table refer to the index to which the swap position is tied, as follows: NYMEX=Henry Hub; NYMEX-WTI=West Texas Intermediate; OPIS Propane Mt Belv Non-TET = Mont Belvieu Propane-OPIS; OPIS Ethane Mt Belv=Mont Belvieu Purity Ethane-OPIS; OPIS Natural Gasoline Mt Belv Non-TET = Mont Belvieu Natural Gasoline-OPIS): Natural Gas Weighted Natural gas Liquids Oil average index MMBtu/day Bbls/day Bbls/day price Six months ending December 31, 2020: NYMEX ($/MMBtu) 40,217 — — $ 2.02 OPIS Propane Mt Belv Non-TET — 951 — 0.49 OPIS Natural Gasoline Mt Belv Non-TET — 288 — 0.67 OPIS Ethane Mt Belv ($/Gal) — 617 — 0.20 NYMEX-WTI ($/Bbl) — — 118 37.15 Total 40,217 1,856 118 Year ending December 31, 2021: NYMEX ($/MMBtu) 41,096 — — $ 2.58 OPIS Propane Mt Belv Non-TET — 932 — 0.43 OPIS Natural Gasoline Mt Belv Non-TET — 282 — 0.71 OPIS Ethane Mt Belv ($/Gal) — 987 — 0.17 NYMEX-WTI ($/Bbl) — — 94 38.99 Total 41,096 2,201 94 Three months ending March 31, 2022 OPIS Propane Mt Belv Non-TET — 379 — 0.43 OPIS Natural Gasoline Mt Belv Non-TET — 115 — 0.72 OPIS Ethane Mt Belv ($/Gal) — 521 — 0.16 Total — 1,015 — Year ending December 31, 2022: NYMEX ($/MMBtu) 38,356 — $ 2.39 NYMEX-WTI ($/Bbl) — 66 40.92 Total 38,356 66 Year ending December 31, 2023: NYMEX ($/MMBtu) 35,616 — $ 2.35 NYMEX-WTI ($/Bbl) — 52 42.45 Total 35,616 52 Year ending December 31, 2024: NYMEX ($/MMBtu) 23,885 — $ 2.33 NYMEX-WTI ($/Bbl) — 43 44.02 Total 23,885 43 Three months ending March 31, 2025: NYMEX ($/MMBtu) 18,021 — $ 2.53 NYMEX-WTI ($/Bbl) — 39 45.06 Total 18,021 39 (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 June 30, 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 June 30, 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 $ 521,459 Commodity derivatives—noncurrent Derivative instruments 333,174 Derivative instruments 103,514 Total asset derivatives 756,023 624,973 Liability derivatives not designated as hedges for accounting purposes (1) Commodity derivatives—current Derivative instruments 6,721 Derivative instruments 3,652 Commodity derivatives—noncurrent Derivative instruments 3,519 Derivative instruments 2,558 Total liability derivatives 10,240 6,210 Net derivatives $ 745,783 $ 618,763 (1) Approximately $2 million of commodity derivative liabilities are attributable to our consolidated VIE, Martica. 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 June 30, 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 $ 782,629 (157,656) 624,973 Commodity derivative liabilities $ (137,034) 126,794 (10,240) $ (163,866) 157,656 (6,210) 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 and six months ended June 30, 2019 and 2020 (in thousands): Statement of operations Three months ended June 30, Six months ended June 30, location 2019 2020 2019 2020 Commodity derivative fair value gains (losses) Revenue $ 328,427 (168,015) $ 251,059 397,818 In July 2020, the Company monetized certain natural gas derivatives, prior to their contractual settlement dates, for proceeds of approximately $29 million. The monetization reduced the fixed volumes hedged on certain natural gas swap contracts maturing in 2021.

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2020
Leases
Leases	(13) 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 or more options to renew, with renewal terms that can 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 June 30, 2020 consisted of the following items (in thousands): December 31, 2019 June 30, 2020 Operating Leases Finance Leases (2) Operating Leases Finance Leases (2) Right-of-use Assets: Processing plants $ 1,460,770 — $ 1,418,728 — Drilling rigs and completion services 71,662 — 31,055 — Gas gathering lines and compressor stations (1) 1,308,428 — 1,070,090 — Office space 40,491 — 38,715 — Vehicles 4,983 2,328 3,459 1,781 Other office and field equipment 166 170 898 — Total right-of-use assets $ 2,886,500 2,498 $ 2,562,945 1,781 (1) Gas gathering lines and compressor stations leases includes $0.9 billion related to Antero Midstream Corporation as of December 31, 2019 and June 30, 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 June 30, 2020, respectively. December 31, 2019 June 30, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Location on the balance sheet: Short-term lease liabilities $ 304,397 923 $ 229,415 1,084 Long-term lease liabilities 2,582,103 1,575 2,333,530 697 Total lease liabilities $ 2,886,500 2,498 $ 2,562,945 1,781 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 and six months ended June 30, 2019 and 2020 (in thousands): Three months ended June 30, Six months ended June 30, Statement of Operations Location 2019 2020 2019 2020 Gathering, compression, processing, and transportation $ 218,542 350,853 $ 406,389 703,496 General and administrative 2,810 2,789 5,536 5,670 Contract termination and rig stacking 2,673 5,841 10,692 5,841 Total lease expense $ 224,025 359,483 $ 422,617 715,007 Costs associated with finance leases of less than $1 million for each of the three months and six months ended June 30, 2019 and 2020 were included in interest expense. For the three months ended June 30, 2019 and 2020, we capitalized $53 million and $26 million, respectively, of costs related to operating leases and less than $1 million of costs related to finance leases. For the six months ended June 30, 2019, and 2020, we capitalized Short-term lease costs that are more than one month but less than 12 months are excluded from the above amounts and total $39 million and $29 million, respectively, for the three months ended June 30, 2019 and 2020 and $74 million and $92 million, respectively, for the six months ended June 30, 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 and six months ended June 30, 2019 (in thousands): Three months ended June 30, 2019 Six months ended June 30, 2019 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 $ 207,244 — $ 357,564 — Investing cash out flows related to operating leases 46,532 — 98,898 — Financing cash out flows related to financing leases — 873 — 1,664 $ 253,776 873 $ 456,462 1,664 Noncash activities: Right of use assets obtained in exchange for operating lease liabilities $ — — $ 3,345,549 — Right of use assets obtained in exchange for financing lease liabilities $ — — $ — — The following is the Company’s supplemental cash flow information related to leases for the three and six months ended June 30, 2020 (in thousands): Three months ended June 30, 2020 Six months ended June 30, 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 $ 303,758 — $ 661,797 — Investing cash out flows related to operating leases 35,745 — 63,279 — Financing cash out flows related to financing leases — 278 — 717 $ 339,503 278 $ 725,076 717 Noncash activities: Right of use assets obtained in exchange for operating lease liabilities $ 104,380 — $ 113,762 — 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 June 30, 2020 (in thousands): (in thousands) Operating Leases Financing Leases Total Remainder of 2020 $ 311,128 647 311,775 2021 582,546 844 583,390 2022 567,631 321 567,952 2023 563,076 7 563,083 2024 554,308 — 554,308 2025 481,630 — 481,630 Thereafter 1,501,759 — 1,501,759 Total lease payments 4,562,078 1,819 4,563,897 Less: imputed interest (1,999,133) (38) (1,999,171) Total $ 2,562,945 1,781 2,564,726 Lease Term and Discount Rate The table below is the Company’s weighted-average remaining lease term and discount rate as of June 30, 2020: June 30, 2020 Operating Leases Finance Leases Weighted-average remaining lease term: 8.5 years 1.8 years Weighted-average discount rate: 15.1 % 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 June 30, 2020, and Antero Midstream Corporation provided a rebate of $12 million in each period. For the three and six months ended June 30, 2019, gathering and compression fees paid by Antero related to this agreement were $163 million and $315 million, respectively. For the three and six months ended June 30, 2020, gathering and compression fees paid by Antero related to this agreement were million, respectively. As of December 31, 2019 and June 30, 2020,

Commitments

Commitments	6 Months Ended
Commitments	Jun. 30, 2020
Commitments
Commitments	(14) 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 June 30, 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 $ 556,683 28,177 2,411 121,082 190,693 899,046 2021 1,075,940 55,780 2,859 224,744 358,646 1,717,969 2022 1,033,099 53,606 — 242,182 325,770 1,654,657 2023 1,055,974 58,565 — 275,311 287,772 1,677,622 2024 1,015,926 58,687 — 310,952 243,356 1,628,921 2025 976,717 47,385 — 286,511 195,119 1,505,732 Thereafter 6,927,112 105,138 — 1,103,944 397,815 8,534,009 Total $ 12,641,451 407,338 5,270 2,564,726 1,999,171 17,617,956 (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 13—Leases to the unaudited condensed consolidated financial statements for more information on the Company’s operating and finance leases.

Contingencies

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2020
Contingencies
Contingencies	(15) 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	6 Months Ended
Contract Termination and Rig Stacking	Jun. 30, 2020
Contract Termination and Rig Stacking
Contract Termination and Rig Stacking	(16) Contract Termination and Rig Stacking The Company incurs costs associated with the delay or cancellation of drilling and completion contracts with third-party contractors. Three months ended June 30, Six months ended June 30, 2019 2020 2019 2020 Contract termination and rig stacking $ 5,604 11,071 $ 13,964 11,071

Related Parties

Related Parties	6 Months Ended
Related Parties	Jun. 30, 2020
Related Parties
Related Parties	(17) 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—Deconsolidation of Antero Midstream Partners LP 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 18—Segment Information to the unaudited condensed consolidated financial statements for the operating results of the Company’s reportable segments.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2020
Segment Information
Segment Information	(18) Segment Information See Note 2(l)—Summary of Significant Accounting Policies, Industry Segments and Geographic Information, 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—Deconsolidation of Antero Midstream Partners LP 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—Summary of Significant Accounting Policies 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 June 30, 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 June 30, 2019: Sales and revenues: Third-party $ 1,234,824 63,080 46 — 1,297,950 Intersegment 1,760 — 255,572 (255,618) 1,714 Total $ 1,236,584 63,080 255,618 (255,618) 1,299,664 Operating expenses: Lease operating $ 40,857 — 50,549 (50,549) 40,857 Gathering, compression, processing, and transportation 566,834 — 12,311 (12,311) 566,834 Impairment of oil and gas properties 130,999 — — — 130,999 Impairment of midstream assets — — 594 (594) — Depletion, depreciation, and amortization 242,302 — 36,447 (36,447) 242,302 General and administrative 42,382 — 34,622 (34,622) 42,382 Other 38,755 137,539 3,504 (3,504) 176,294 Total 1,062,129 137,539 138,027 (138,027) 1,199,668 Operating income (loss) $ 174,455 (74,459) 117,591 (117,591) 99,996 Equity in earnings of unconsolidated affiliates $ 13,585 — 13,623 (13,623) 13,585 Investments in unconsolidated affiliates $ 1,967,203 — 1,186,161 (1,186,161) 1,967,203 Segment assets $ 17,305,519 25,361 6,769,009 (6,769,009) 17,330,880 Capital expenditures for segment assets $ 342,253 — 125,185 (125,185) 342,253 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Three months ended June 30, 2020: Sales and revenues: Third-party $ 419,919 64,285 — — 484,204 Intersegment 707 — 219,736 (219,736) 707 Total $ 420,626 64,285 219,736 (219,736) 484,911 Operating expenses: Lease operating $ 24,742 — — — 24,742 Gathering, compression, processing, and transportation 631,845 — 42,067 (42,067) 631,845 Impairment of oil and gas properties 37,350 — — — 37,350 Depletion, depreciation, and amortization 214,035 — 27,745 (27,745) 214,035 General and administrative 38,403 — 12,422 (12,422) 38,403 Other 32,405 113,053 2,776 (2,776) 145,458 Total 978,780 113,053 85,010 (85,010) 1,091,833 Operating income (loss) $ (558,154) (48,768) 134,726 (134,726) (606,922) Equity in earnings of unconsolidated affiliates $ 20,228 — 20,947 (20,947) 20,228 Investments in unconsolidated affiliates $ 279,805 — 729,823 (729,823) 279,805 Segment assets $ 13,711,749 32,241 5,715,055 (5,715,055) 13,743,990 Capital expenditures for segment assets $ 263,522 — 55,431 (55,431) 263,522 The operating results and assets of the Company’s reportable segments were as follows for the six months ended June 30, 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 Six months ended June 30, 2019: Sales and revenues: Third-party $ 2,176,459 154,266 50 — 2,330,775 Intersegment 3,518 — 309,676 (306,898) 6,296 Total $ 2,179,977 154,266 309,726 (306,898) 2,337,071 Operating expenses: Lease operating $ 83,826 — 62,377 (63,614) 82,589 Gathering, compression, processing, and transportation 1,101,849 — 15,233 (125,719) 991,363 Impairment of oil and gas properties 212,243 — — — 212,243 Impairment of midstream assets — — 7,576 (594) 6,982 Depletion, depreciation, and amortization 460,796 — 44,097 (22,390) 482,503 General and administrative 92,290 — 54,431 (36,137) 110,584 Other 82,892 300,623 4,795 (3,792) 384,518 Total 2,033,896 300,623 188,509 (252,246) 2,270,782 Operating income (loss) $ 146,081 (146,357) 121,217 (54,652) 66,289 Equity in earnings of unconsolidated affiliates $ 15,402 — 16,503 (4,239) 27,666 Investments in unconsolidated affiliates $ 1,967,203 — 1,186,161 (1,186,161) 1,967,203 Segment assets $ 17,305,519 25,361 6,769,009 (6,769,009) 17,330,880 Capital expenditures for segment assets $ 761,034 — 141,190 (88,038) 814,186 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Six months ended June 30, 2020: Sales and revenues: Third-party $ 1,690,153 110,358 — — 1,800,511 Intersegment 1,505 — 463,444 (463,444) 1,505 Total $ 1,691,658 110,358 463,444 (463,444) 1,802,016 Operating expenses: Lease operating $ 50,386 — — — 50,386 Gathering, compression, processing, and transportation 1,220,469 — 90,795 (90,795) 1,220,469 Impairment of oil and gas properties 126,570 — — — 126,570 Impairment of midstream assets — — 664,544 (664,544) — Depletion, depreciation, and amortization 413,712 — 55,088 (55,088) 413,712 General and administrative 69,624 — 25,959 (25,959) 69,624 Other 59,418 206,326 11,496 (11,496) 265,744 Total 1,940,179 206,326 847,882 (847,882) 2,146,505 Operating loss $ (248,521) (95,968) (384,438) 384,438 (344,489) Equity in earnings (loss) of unconsolidated affiliates $ (107,827) — 40,024 (40,024) (107,827) Investments in unconsolidated affiliates $ 279,805 — 729,823 (729,823) 279,805 Segment assets $ 13,711,749 32,241 5,715,055 (5,715,055) 13,743,990 Capital expenditures for segment assets $ 575,133 — 123,414 (123,414) 575,133

Subsidiary Guarantors

Subsidiary Guarantors	6 Months Ended
Subsidiary Guarantors	Jun. 30, 2020
Subsidiary Guarantors
Subsidiary Guarantors	(19) 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 June 30, 2020, and the related Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2019 and 2020, and Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 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 non-guarantor subsidiaries as of and for the three months ended June 30, 2020 represent Martica. 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 affiliate 243,048 812,129 — — 1,055,177 Investments in consolidated affiliate 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 (loss) 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: Cash $ (6,793) — 6,793 — — Accounts receivable 57,013 — — — 57,013 Accounts receivable, related parties — 365,255 12,523 (377,778) — Accrued revenue 249,201 — 5,662 — 254,863 Derivative instruments 521,459 — — — 521,459 Other current assets 8,942 — — — 8,942 Total current assets 829,822 365,255 24,978 (377,778) 842,277 Property and equipment: Oil and gas properties, at cost (successful efforts method): Unproved properties 1,231,051 — 46,425 — 1,277,476 Proved properties 11,168,728 — 820,574 — 11,989,302 Gathering systems and facilities 5,802 — — — 5,802 Other property and equipment 72,649 — — — 72,649 12,478,230 — 866,999 — 13,345,229 Less accumulated depletion, depreciation, and amortization (3,406,859) — (1,240) — (3,408,099) Property and equipment, net 9,071,371 — 865,759 — 9,937,130 Operating leases right-of-use assets 2,562,945 — — — 2,562,945 Derivative instruments 103,514 — — — 103,514 Investment in unconsolidated affiliate 68,134 211,671 — — 279,805 Investments in consolidated affiliates 795,965 — — (795,965) — Other assets 18,319 — — — 18,319 Total assets $ 13,450,070 576,926 890,737 (1,173,743) 13,743,990 Liabilities and Equity Current liabilities: Accounts payable $ 33,323 — 3,413 — 36,736 Accounts payable, related parties 447,284 — 3,869 (377,778) 73,375 Accrued liabilities 339,388 — — — 339,388 Revenue distributions payable 173,759 — — — 173,759 Derivative instruments 2,905 — 747 — 3,652 Short-term lease liabilities 230,499 — — — 230,499 Other current liabilities 6,831 — — — 6,831 Total current liabilities 1,233,989 — 8,029 (377,778) 864,240 Long-term liabilities: Long-term debt 3,518,076 — — — 3,518,076 Deferred income tax liability 529,598 — — — 529,598 Derivative instruments 967 — 1,591 — 2,558 Long-term lease liabilities 2,334,227 — — — 2,334,227 Other liabilities 62,312 — — — 62,312 Total liabilities 7,679,169 — 9,620 (377,778) 7,311,011 Equity: Stockholders' equity: Common stock 2,684 — 879,070 (879,070) 2,684 Additional paid-in capital 4,970,105 1,341,780 — (213,718) 6,098,167 Accumulated earnings (loss) 798,112 (764,854) 2,047 — 35,305 Total stockholders' equity 5,770,901 576,926 881,117 (1,092,788) 6,136,156 Noncontrolling interest — — — 296,823 296,823 Total liabilities and equity $ 13,450,070 576,926 890,737 (1,173,743) 13,743,990 Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended June 30, 2019 Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 553,372 — — — 553,372 Natural gas liquids sales 303,963 — — — 303,963 Oil sales 49,062 — — — 49,062 Commodity derivative fair value gains 328,427 — — — 328,427 Marketing 63,080 — — — 63,080 Other income 1,760 — — — 1,760 Total revenue and other 1,299,664 — — — 1,299,664 Operating expenses: Lease operating 40,857 — — — 40,857 Gathering, compression, processing, and transportation 566,834 — — — 566,834 Production and ad valorem taxes 30,968 — — — 30,968 Marketing 137,539 — — — 137,539 Exploration 314 — — — 314 Impairment of oil and gas properties 130,999 — — — 130,999 Depletion, depreciation, and amortization 242,302 — — — 242,302 Loss on sale of assets 951 — — — 951 Accretion of asset retirement obligations 918 — — — 918 General and administrative 42,382 — — — 42,382 Contract termination and rig stacking 5,604 — — — 5,604 Total operating expenses 1,199,668 — — — 1,199,668 Operating income (loss) 99,996 — — — 99,996 Other income (expenses): Equity in earnings of unconsolidated affiliates 4,410 9,175 — — 13,585 Interest expense, net (54,164) — — — (54,164) Total other income (expenses) (49,754) 9,175 — — (40,579) Income before income taxes 50,242 9,175 — — 59,417 Provision for income tax expense (17,249) — — — (17,249) Net income and comprehensive income attributable to Antero Resources Corporation $ 32,993 9,175 — — 42,168 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2020 Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 363,975 — 3,440 — 367,415 Natural gas liquids sales 210,251 — 1,946 — 212,197 Oil sales 7,965 — 357 — 8,322 Commodity derivative fair value losses (165,676) — (2,339) — (168,015) Marketing 64,285 — — — 64,285 Other income 745 — — (38) 707 Total revenue and other 481,545 — 3,404 (38) 484,911 Operating expenses: Lease operating 24,742 — — — 24,742 Gathering, compression, processing, and transportation 631,845 — — — 631,845 Production and ad valorem taxes 19,913 — 79 — 19,992 Marketing 113,053 — — — 113,053 Exploration 231 — — — 231 Impairment of oil and gas properties 37,350 — — — 37,350 Depletion, depreciation, and amortization 212,795 — 1,240 — 214,035 Accretion of asset retirement obligations 1,111 — — — 1,111 General and administrative 38,403 — 38 (38) 38,403 Contract termination and rig stacking 11,071 — — — 11,071 Total operating expenses 1,090,514 — 1,357 (38) 1,091,833 Operating income (loss) (608,969) — 2,047 — (606,922) Other income (expenses): Equity in earnings of unconsolidated affiliates 355 19,873 — — 20,228 Transaction expense (6,138) — — — (6,138) Interest expense, net (51,811) — — — (51,811) Gain on early extinguishment of debt 39,171 — — — 39,171 Total other income (expenses) (18,423) 19,873 — — 1,450 Income (loss) before income taxes (627,392) 19,873 2,047 — (605,472) Provision for income tax benefit 142,404 — — — 142,404 Net income (loss) and comprehensive income (loss) including noncontrolling interests (484,988) 19,873 2,047 — (463,068) Net income and comprehensive income attributable to noncontrolling interests — 236 236 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (484,988) 19,873 2,047 (236) (463,304) Condensed Consolidating Statement of Operations and Comprehensive Income Six Months Ended June 30, 2019 Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 1,210,638 — — — 1,210,638 Natural gas liquids sales 617,648 — — — 617,648 Oil sales 97,114 — — — 97,114 Commodity derivative fair value gains 251,059 — — — 251,059 Gathering, compression, water handling and treatment — — 218,360 (213,881) 4,479 Marketing 154,266 — — — 154,266 Other income 3,518 — — (1,651) 1,867 Total revenue and other 2,334,243 — 218,360 (215,532) 2,337,071 Operating expenses: Lease operating 83,826 — 64,818 (66,055) 82,589 Gathering, compression, processing, and transportation 1,101,849 — — (110,486) 991,363 Production and ad valorem taxes 65,706 — — 940 66,646 Marketing 300,623 — — — 300,623 Exploration 440 — — — 440 Impairment of oil and gas properties 212,243 — — — 212,243 Impairment of midstream assets — — 6,982 — 6,982 Depletion, depreciation, and amortization 460,796 — 21,707 — 482,503 Loss on sale of asset 951 951 Accretion of asset retirement obligations 1,831 — 63 — 1,894 General and administrative 92,290 — 18,793 (499) 110,584 Contract termination and rig stacking 13,964 — — — 13,964 Accretion of contingent acquisition consideration — — 1,928 (1,928) — Total operating expenses 2,334,519 — 114,291 (178,028) 2,270,782 Operating income (loss) (276) — 104,069 (37,504) 66,289 Other income (expenses): Equity in earnings of unconsolidated affiliates 4,999 10,403 12,264 — 27,666 Interest expense, net (109,299) — (16,815) — (126,114) Equity in earnings of affiliates 15,021 — — (15,021) — Gain on deconsolidation of Antero Midstream Partners LP 1,205,705 200,337 — — 1,406,042 Total other expenses 1,116,426 210,740 (4,551) (15,021) 1,307,594 Income before income taxes 1,116,150 210,740 99,518 (52,525) 1,373,883 Provision for income tax expense (305,959) — — — (305,959) Net income and comprehensive income including noncontrolling interests 810,191 210,740 99,518 (52,525) 1,067,924 Net income and comprehensive income attributable to noncontrolling interests — — — 46,993 46,993 Net income and comprehensive income attributable to Antero Resources Corporation $ 810,191 210,740 99,518 (99,518) 1,020,931 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 775,057 — 3,440 — 778,497 Natural gas liquids sales 467,924 — 1,946 — 469,870 Oil sales 43,611 — 357 — 43,968 Commodity derivative fair value gains (losses) 400,157 — (2,339) — 397,818 Marketing 110,358 — — — 110,358 Other income 1,543 — — (38) 1,505 Total revenue and other 1,798,650 — 3,404 (38) 1,802,016 Operating expenses: Lease operating 50,386 — — — 50,386 Gathering, compression, processing, and transportation 1,220,469 — — — 1,220,469 Production and ad valorem taxes 45,612 — 79 — 45,691 Marketing 206,326 — — — 206,326 Exploration 441 — — — 441 Impairment of oil and gas properties 126,570 — — — 126,570 Depletion, depreciation, and amortization 412,472 — 1,240 — 413,712 Accretion of asset retirement obligations 2,215 — — — 2,215 General and administrative 69,624 — 38 (38) 69,624 Contract termination and rig stacking 11,071 — — — 11,071 Total operating expenses 2,145,186 — 1,357 (38) 2,146,505 Operating income (loss) (346,536) — 2,047 — (344,489) Other income (expenses): Equity in loss of unconsolidated affiliates (39,957) (67,870) — — (107,827) Impairment of equity investment (143,849) (466,783) — — (610,632) Transaction expense (6,138) — — — (6,138) Interest expense, net (104,913) — — — (104,913) Gain on early extinguishment of debt 119,732 — — — 119,732 Total other expenses (175,125) (534,653) — — (709,778) Income (loss) before income taxes (521,661) (534,653) 2,047 — (1,054,267) Provision for income tax benefit 252,389 — — — 252,389 Net income (loss) and comprehensive income (loss) including noncontrolling interests (269,272) (534,653) 2,047 — (801,878) Net income and comprehensive income attributable to noncontrolling interests — — — 236 236 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (269,272) (534,653) 2,047 (236) (802,114) 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 $ 810,191 210,740 99,518 (52,525) 1,067,924 Adjustments to reconcile net income to net cash provided by operating activities: — Depletion, depreciation, amortization, and accretion 462,627 — 21,770 — 484,397 Impairments 212,243 — 6,982 — 219,225 Commodity derivative fair value gains (251,059) — — — (251,059) Gains on settled commodity derivatives 141,791 — — — 141,791 Deferred income tax expense 304,963 — — — 304,963 Loss on sale of assets 951 — — — 951 Equity-based compensation expense 12,975 — 2,477 — 15,452 Equity in earnings of affiliates (15,021) — — 15,021 — Equity in earnings of unconsolidated affiliates (4,999) (10,403) (12,264) — (27,666) Distributions/dividends of earnings from unconsolidated affiliates 47,922 — 12,605 — 60,527 Gain on deconsolidation of Antero Midstream Partners LP (1,205,705) (200,337) — — (1,406,042) Distributions from Antero Midstream Partners LP 94,391 — — (94,391) — Other (43,002) — 750 47,922 5,670 Changes in current assets and liabilities 134,740 — (10,573) 16,808 140,975 Net cash provided by operating activities 703,008 — 121,265 (67,165) 757,108 Cash flows provided by (used in) investing activities: Additions to unproved properties (56,814) — — — (56,814) Drilling and completion costs (700,653) — — 20,565 (680,088) 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 (3,567) — (1,062) — (4,629) Investments in unconsolidated affiliates — — (25,020) — (25,020) Proceeds from the Antero Midstream Partners LP Transactions 296,611 — — — 296,611 Change in other assets (1,617) — (3,357) — (4,974) Proceeds from sale of assets 1,983 1,983 Net cash used in investing activities (464,057) — (102,225) 20,696 (545,586) Cash flows provided by (used in) financing activities: Issuance of senior notes — — 650,000 — 650,000 Borrowings (repayments) on bank credit facility, net (235,379) — 90,379 — (145,000) 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 (2,266) — (29) — (2,295) Other (515) — (845) — (1,360) Net cash provided by (used in) financing activities (238,951) — 600,492 46,469 408,010 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 Six Months Ended June 30, 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 $ (269,272) (534,653) 2,047 — (801,878) Adjustment to reconcile net income (loss) to net cash provided by operating activities: Depletion, depreciation, amortization, and accretion 414,687 — 1,240 — 415,927 Impairment of oil and gas properties 126,570 — — — 126,570 Commodity derivative fair value (gains) losses (400,157) — 2,339 — (397,818) Gains on settled commodity derivatives 524,838 — — — 524,838 Equity-based compensation expense 11,302 — — — 11,302 Deferred income tax benefit (252,389) — — — (252,389) Gain on early extinguishment of debt (119,732) — — — (119,732) Equity in loss of unconsolidated affiliates 39,957 67,870 — — 107,827 Impairment of equity investment 143,849 466,783 — — 610,632 Distributions/dividends of earnings from unconsolidated affiliates 85,511 — — — 85,511 Other 4,433 — — — 4,433 Changes in current assets and liabilities 7,043 — (5,626) — 1,417 Net cash provided by operating activities 316,640 — — — 316,640 Cash flows provided by (used in) investing activities: Additions to unproved properties (21,672) — — — (21,672) Drilling and completion costs (552,227) — — — (552,227) Additions to other property and equipment (1,234) — — — (1,234) Settlement of water earnout 125,000 — — — 125,000 Change in other assets 525 — — — 525 Net cash used in investing activities (449,608) — — — (449,608) Cash flows provided by (used in) financing activities: Repurchases of common stock (43,443) — — — (43,443) Repayment of senior notes (496,541) — — — (496,541) Borrowings on bank credit facility, net 374,000 — — — 374,000 Sale (purchase) noncontrolling interests (6,793) — 306,793 — 300,000 (Distributions) proceeds to interest holders 300,000 — (300,000) — — Employee tax withholding for settlement of equity compensation awards (331) — — — (331) Other (717) — — — (717) Net cash provided by financing activities 126,175 — 6,793 — 132,968 Net increase in cash and cash equivalents (6,793) — 6,793 — — Cash and cash equivalents, beginning of period — — — — — Cash and cash equivalents, end of period $ (6,793) — 6,793 — —

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 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 June 30, 2020, its results of operations for the three and six months ended June 30, 2019 and 2020 and its cash flows for the six months ended June 30, 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 June 30, 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—Deconsolidation of Antero Midstream Partners LP 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—Deconsolidation of Antero Midstream Partners LP 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—Deconsolidation of Antero Midstream Partners LP to the unaudited condensed consolidated financial statements for further discussion on the Transactions. For the three months and six months ended June 30, 2020, we have determined that Martica Holdings LLC (“Martica”) is a VIE for which Antero is the primary beneficiary. Therefore, Martica’s accounts are consolidated in the Company’s consolidated financial statements. Antero is the primary beneficiary of Martica based on its power to direct the activities that most significantly impact Martica’s economic performance, and its obligation to absorb losses of, or right to receive benefits from, Martica that could be significant to Martica. In reaching such determination that Antero is the primary beneficiary of Martica, the Company considered the following: ● Martica was formed to hold certain overriding royalty interests across the Company’s existing asset base; ● substantially all of Martica’s revenues are derived from production from the Company’s natural gas, NGLs, and oil properties in the Appalachian Basin in West Virginia and Ohio; ● Antero owns the Class B Units in Martica, which entitle Antero to receive distributions in respect of the Incremental Override (as defined in Note 4—Conveyance of Overriding Royalty Interest); and ● Antero provides accounting, administrative and other services to Martica under a Management Services Agreement. 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 six months ended June 30, 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. The noncontrolling interest in the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2020 represents the interest in Martica owned by third parties. See Note 4—Conveyance of Overriding Royalty Interest for more information on the sale of this noncontrolling interest. Martica is a discrete entity and the assets and credit of Martica are not available to satisfy the debts and obligations of the Company or its other subsidiaries. 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.
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 June 30, 2020, the book overdraft included within revenue distributions payable was $5 million and no overdraft was included in accounts payable.
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 and six months ended June 30, 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. For the three months ended June 30, 2019 and 2020, impairment of oil and gas properties was $131 million and $37 million, respectively. For the six months ended June 30, 2019 and 2020, impairment of oil and gas properties was $212 million and $127 million, 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 primarily 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 financial statements for further discussion on the Transactions and Note 18—Segment information 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 unaudited 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—Deconsolidation of Antero Midstream Partners LP to the unaudited condensed consolidated financial statements for further discussion on the Transactions and Note 18—Segment Information 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 June 30, Six months ended June 30, 2019 2020 2019 2020 Basic weighted average number of shares outstanding 309,062 268,386 308,879 276,306 Add: Dilutive effect of restricted stock units 33 — 48 — Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of performance stock units 42 — 155 — Diluted weighted average number of shares outstanding 309,137 268,386 309,082 276,306 Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1) Restricted stock units 2,284 6,165 1,877 5,697 Outstanding stock options 538 454 554 454 Performance stock units 2,592 1,595 1,996 1,595 (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)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 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 June 30, Six months ended June 30, 2019 2020 2019 2020 Basic weighted average number of shares outstanding 309,062 268,386 308,879 276,306 Add: Dilutive effect of restricted stock units 33 — 48 — Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of performance stock units 42 — 155 — Diluted weighted average number of shares outstanding 309,137 268,386 309,082 276,306 Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1) Restricted stock units 2,284 6,165 1,877 5,697 Outstanding stock options 538 454 554 454 Performance stock units 2,592 1,595 1,996 1,595 (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)	6 Months Ended
Revenue (Tables)	Jun. 30, 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 18—Segment Information. Three months ended June 30, Six months ended June 30, Segment to which (in thousands) 2019 2020 2019 2020 revenues relate Revenues from contracts with customers: Natural gas sales $ 553,372 367,415 $ 1,210,638 778,497 Exploration and production Natural gas liquids sales (ethane) 30,374 26,644 65,890 53,440 Exploration and production Natural gas liquids sales (C3+ NGLs) 273,589 185,553 551,758 416,430 Exploration and production Oil sales 49,062 8,322 97,114 43,968 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 63,080 64,285 154,266 110,358 Marketing Total revenue from contracts with customers 969,477 652,219 2,084,145 1,402,693 Income from derivatives and other sources 330,187 (167,308) 252,926 399,323 Total revenue and other $ 1,299,664 484,911 $ 2,337,071 1,802,016 (1) Gathering and compression and water handling and treatment revenues were included through March 12, 2019. See Note 3—Deconsolidation of Antero Midstream Partners to the unaudited condensed consolidated financial statements for further discussion on the Transactions.

Equity Method Investments (Tabl

Equity Method Investments (Tables)	6 Months Ended
Equity Method Investments (Tables)	Jun. 30, 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 six months ended June 30, 2020 (in thousands): Antero Midstream Corporation Balance at December 31, 2019 $ 1,055,177 Equity in loss of unconsolidated affiliates (107,827) Distributions/dividends from unconsolidated affiliates (85,511) Impairment (1) (610,632) Elimination of intercompany profit 28,598 Balance at June 30, 2020 $ 279,805 (1) Other-than-temporary impairment of investment in Antero Midstream Corporation.
Schedule of summarized financial information of Antero Midstream Corporation	Balance Sheet December 31, June 30, (in thousands) 2019 2020 Current assets $ 108,558 100,669 Noncurrent assets 6,174,320 5,614,386 Total assets $ 6,282,878 5,715,055 Current liabilities $ 242,084 98,145 Noncurrent liabilities 2,897,380 3,093,728 Stockholders' equity 3,143,414 2,523,182 Total liabilities and stockholders' equity $ 6,282,878 5,715,055 Statement of Operations For the period March 13, 2019 Six months through ended (in thousands) June 30, 2019 June 30, 2020 Revenues $ 309,726 463,444 Operating expenses 168,056 847,882 Income (loss) from operations $ 141,670 (384,438) Net income (loss) attributable to the equity method investment $ 92,471 (304,492)

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
Accrued Liabilities (Tables)	Jun. 30, 2020
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities as of December 31, 2019 and June 30, 2020 consisted of the following items (in thousands): December 31, June 30, 2019 2020 Capital expenditures $ 105,706 47,026 Gathering, compression, processing, and transportation expenses 134,153 159,828 Marketing expenses 52,612 48,122 Interest expense, net 30,834 26,795 Other 77,545 57,617 Total accrued liabilities $ 400,850 339,388

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Jun. 30, 2020
Long-Term Debt.
Schedule of long-term debt	Long-term debt as of December 31, 2019 and June 30, 2020 consisted of the following items (in thousands): December 31, June 30, 2019 2020 Credit Facility (a) $ 552,000 926,000 5.375% senior notes due 2021 (b) 952,500 516,202 5.125% senior notes due 2022 (c) 923,041 756,030 5.625% senior notes due 2023 (d) 750,000 743,690 5.00% senior notes due 2025 (e) 600,000 590,000 Net unamortized premium 791 542 Net unamortized debt issuance costs (19,464) (14,388) Long-term debt $ 3,758,868 3,518,076

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
Asset Retirement Obligations (Tables)	Jun. 30, 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 six months ended June 30, 2020 (in thousands): Asset retirement obligations—December 31, 2019 $ 54,845 Obligations incurred 1,308 Accretion expense 2,215 Settlement of obligations (229) Asset retirement obligations—June 30, 2020 $ 58,139

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
Equity-Based Compensation (Tables)	Jun. 30, 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 and six months ended June 30, 2019 and 2020 (in thousands): Three months ended June 30, Six months ended June 30, 2019 2020 2019 2020 Restricted stock unit awards $ 2,624 4,080 $ 6,600 5,958 Stock options 45 — 389 — Performance share unit awards 2,666 2,631 5,628 3,553 Antero Midstream Partners phantom unit awards (1) 949 1,262 2,075 1,422 Equity awards issued to directors 265 — 760 369 Total expense $ 6,549 7,973 $ 15,452 11,302 (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—Deconsolidation of Antero Midstream Partners LP 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 (872,749) $ 13.50 Forfeited (111,014) $ 12.53 Total awarded and unvested—June 30, 2020 6,031,746 $ 4.69 $ 15,321
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 — $ — Expired (13,172) $ 51.50 Outstanding at June 30, 2020 454,461 $ 50.61 4.35 $ — Vested or expected to vest as of June 30, 2020 454,461 $ 50.61 4.35 $ — Exercisable at June 30, 2020 454,461 $ 50.61 4.35 $ —
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 (293,868) $ 14.13 Forfeited (22,577) $ 14.09 Total awarded and unvested—June 30, 2020 341,312 $ 15.24 $ 1,741

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Jun. 30, 2020
Schedule of outstanding commodity derivatives	Natural Gas Weighted Natural gas Liquids Oil average index MMBtu/day Bbls/day Bbls/day price Six months ending December 31, 2020: NYMEX ($/MMBtu) 2,227,500 — — $ 2.87 ARA Propane ($/Gal) — 10,315 — 0.65 OPIS Ethane Mt Belv ($/Gal) — 24,500 — 0.20 NYMEX-WTI ($/Bbl) — — 26,000 55.63 Total 2,227,500 34,815 26,000 Three months ending March 31, 2021 OPIS Ethane Mt Belv ($/Gal) 18,791 $ 0.20 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) 1,307,500 $ 2.44 Year ending December 31, 2023: NYMEX ($/MMBtu) 150,000 $ 2.38
Schedule of natural gas basis swap positions which settle on pricing index to basis differential of NYMEX to TCO	Weighted Natural gas average hedged MMBtu/day differential Six 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 Six months ending December 31, 2020: Mont Belvieu Natural Gasoline to NYMEX-WTI 11,800 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 June 30, 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 $ 521,459 Commodity derivatives—noncurrent Derivative instruments 333,174 Derivative instruments 103,514 Total asset derivatives 756,023 624,973 Liability derivatives not designated as hedges for accounting purposes (1) Commodity derivatives—current Derivative instruments 6,721 Derivative instruments 3,652 Commodity derivatives—noncurrent Derivative instruments 3,519 Derivative instruments 2,558 Total liability derivatives 10,240 6,210 Net derivatives $ 745,783 $ 618,763 (1) Approximately $2 million of commodity derivative liabilities are attributable to our consolidated VIE, Martica.
Schedule of gross amounts of recognized derivative assets and liabilities, the amounts offset under netting arrangements with counterparties, and the resulting net amounts	(1) Approximately $2 million of commodity derivative liabilities are attributable to our consolidated VIE, Martica.
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 and six months ended June 30, 2019 and 2020 (in thousands): Statement of operations Three months ended June 30, Six months ended June 30, location 2019 2020 2019 2020 Commodity derivative fair value gains (losses) Revenue $ 328,427 (168,015) $ 251,059 397,818
VIE, Martica
Schedule of outstanding commodity derivatives	Natural Gas Weighted Natural gas Liquids Oil average index MMBtu/day Bbls/day Bbls/day price Six months ending December 31, 2020: NYMEX ($/MMBtu) 40,217 — — $ 2.02 OPIS Propane Mt Belv Non-TET — 951 — 0.49 OPIS Natural Gasoline Mt Belv Non-TET — 288 — 0.67 OPIS Ethane Mt Belv ($/Gal) — 617 — 0.20 NYMEX-WTI ($/Bbl) — — 118 37.15 Total 40,217 1,856 118 Year ending December 31, 2021: NYMEX ($/MMBtu) 41,096 — — $ 2.58 OPIS Propane Mt Belv Non-TET — 932 — 0.43 OPIS Natural Gasoline Mt Belv Non-TET — 282 — 0.71 OPIS Ethane Mt Belv ($/Gal) — 987 — 0.17 NYMEX-WTI ($/Bbl) — — 94 38.99 Total 41,096 2,201 94 Three months ending March 31, 2022 OPIS Propane Mt Belv Non-TET — 379 — 0.43 OPIS Natural Gasoline Mt Belv Non-TET — 115 — 0.72 OPIS Ethane Mt Belv ($/Gal) — 521 — 0.16 Total — 1,015 — Year ending December 31, 2022: NYMEX ($/MMBtu) 38,356 — $ 2.39 NYMEX-WTI ($/Bbl) — 66 40.92 Total 38,356 66 Year ending December 31, 2023: NYMEX ($/MMBtu) 35,616 — $ 2.35 NYMEX-WTI ($/Bbl) — 52 42.45 Total 35,616 52 Year ending December 31, 2024: NYMEX ($/MMBtu) 23,885 — $ 2.33 NYMEX-WTI ($/Bbl) — 43 44.02 Total 23,885 43 Three months ending March 31, 2025: NYMEX ($/MMBtu) 18,021 — $ 2.53 NYMEX-WTI ($/Bbl) — 39 45.06 Total 18,021 39

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2020
Leases
Summary of supplemental balance sheet information related to leases	The Company’s lease assets as of December 31, 2019 and June 30, 2020 consisted of the following items (in thousands): December 31, 2019 June 30, 2020 Operating Leases Finance Leases (2) Operating Leases Finance Leases (2) Right-of-use Assets: Processing plants $ 1,460,770 — $ 1,418,728 — Drilling rigs and completion services 71,662 — 31,055 — Gas gathering lines and compressor stations (1) 1,308,428 — 1,070,090 — Office space 40,491 — 38,715 — Vehicles 4,983 2,328 3,459 1,781 Other office and field equipment 166 170 898 — Total right-of-use assets $ 2,886,500 2,498 $ 2,562,945 1,781 (1) Gas gathering lines and compressor stations leases includes $0.9 billion related to Antero Midstream Corporation as of December 31, 2019 and June 30, 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 June 30, 2020, respectively. December 31, 2019 June 30, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Location on the balance sheet: Short-term lease liabilities $ 304,397 923 $ 229,415 1,084 Long-term lease liabilities 2,582,103 1,575 2,333,530 697 Total lease liabilities $ 2,886,500 2,498 $ 2,562,945 1,781
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 and six months ended June 30, 2019 and 2020 (in thousands): Three months ended June 30, Six months ended June 30, Statement of Operations Location 2019 2020 2019 2020 Gathering, compression, processing, and transportation $ 218,542 350,853 $ 406,389 703,496 General and administrative 2,810 2,789 5,536 5,670 Contract termination and rig stacking 2,673 5,841 10,692 5,841 Total lease expense $ 224,025 359,483 $ 422,617 715,007
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 and six months ended June 30, 2019 (in thousands): Three months ended June 30, 2019 Six months ended June 30, 2019 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 $ 207,244 — $ 357,564 — Investing cash out flows related to operating leases 46,532 — 98,898 — Financing cash out flows related to financing leases — 873 — 1,664 $ 253,776 873 $ 456,462 1,664 Noncash activities: Right of use assets obtained in exchange for operating lease liabilities $ — — $ 3,345,549 — Right of use assets obtained in exchange for financing lease liabilities $ — — $ — — The following is the Company’s supplemental cash flow information related to leases for the three and six months ended June 30, 2020 (in thousands): Three months ended June 30, 2020 Six months ended June 30, 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 $ 303,758 — $ 661,797 — Investing cash out flows related to operating leases 35,745 — 63,279 — Financing cash out flows related to financing leases — 278 — 717 $ 339,503 278 $ 725,076 717 Noncash activities: Right of use assets obtained in exchange for operating lease liabilities $ 104,380 — $ 113,762 — 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 June 30, 2020 (in thousands): (in thousands) Operating Leases Financing Leases Total Remainder of 2020 $ 311,128 647 311,775 2021 582,546 844 583,390 2022 567,631 321 567,952 2023 563,076 7 563,083 2024 554,308 — 554,308 2025 481,630 — 481,630 Thereafter 1,501,759 — 1,501,759 Total lease payments 4,562,078 1,819 4,563,897 Less: imputed interest (1,999,133) (38) (1,999,171) Total $ 2,562,945 1,781 2,564,726
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 June 30, 2020 (in thousands): (in thousands) Operating Leases Financing Leases Total Remainder of 2020 $ 311,128 647 311,775 2021 582,546 844 583,390 2022 567,631 321 567,952 2023 563,076 7 563,083 2024 554,308 — 554,308 2025 481,630 — 481,630 Thereafter 1,501,759 — 1,501,759 Total lease payments 4,562,078 1,819 4,563,897 Less: imputed interest (1,999,133) (38) (1,999,171) Total $ 2,562,945 1,781 2,564,726
Summary of weighted-average remaining lease term and discount rate	June 30, 2020 Operating Leases Finance Leases Weighted-average remaining lease term: 8.5 years 1.8 years Weighted-average discount rate: 15.1 % 6.1 %

Commitments (Tables)

Commitments (Tables)	6 Months Ended
Commitments (Tables)	Jun. 30, 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 June 30, 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 $ 556,683 28,177 2,411 121,082 190,693 899,046 2021 1,075,940 55,780 2,859 224,744 358,646 1,717,969 2022 1,033,099 53,606 — 242,182 325,770 1,654,657 2023 1,055,974 58,565 — 275,311 287,772 1,677,622 2024 1,015,926 58,687 — 310,952 243,356 1,628,921 2025 976,717 47,385 — 286,511 195,119 1,505,732 Thereafter 6,927,112 105,138 — 1,103,944 397,815 8,534,009 Total $ 12,641,451 407,338 5,270 2,564,726 1,999,171 17,617,956

Contract Termination and Rig _2

Contract Termination and Rig Stacking (Tables)	6 Months Ended
Contract Termination and Rig Stacking (Tables)	Jun. 30, 2020
Contract Termination and Rig Stacking
Schedule of costs recorded on contract termination and rig stacking	Three months ended June 30, Six months ended June 30, 2019 2020 2019 2020 Contract termination and rig stacking $ 5,604 11,071 $ 13,964 11,071

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 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 June 30, 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 June 30, 2019: Sales and revenues: Third-party $ 1,234,824 63,080 46 — 1,297,950 Intersegment 1,760 — 255,572 (255,618) 1,714 Total $ 1,236,584 63,080 255,618 (255,618) 1,299,664 Operating expenses: Lease operating $ 40,857 — 50,549 (50,549) 40,857 Gathering, compression, processing, and transportation 566,834 — 12,311 (12,311) 566,834 Impairment of oil and gas properties 130,999 — — — 130,999 Impairment of midstream assets — — 594 (594) — Depletion, depreciation, and amortization 242,302 — 36,447 (36,447) 242,302 General and administrative 42,382 — 34,622 (34,622) 42,382 Other 38,755 137,539 3,504 (3,504) 176,294 Total 1,062,129 137,539 138,027 (138,027) 1,199,668 Operating income (loss) $ 174,455 (74,459) 117,591 (117,591) 99,996 Equity in earnings of unconsolidated affiliates $ 13,585 — 13,623 (13,623) 13,585 Investments in unconsolidated affiliates $ 1,967,203 — 1,186,161 (1,186,161) 1,967,203 Segment assets $ 17,305,519 25,361 6,769,009 (6,769,009) 17,330,880 Capital expenditures for segment assets $ 342,253 — 125,185 (125,185) 342,253 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Three months ended June 30, 2020: Sales and revenues: Third-party $ 419,919 64,285 — — 484,204 Intersegment 707 — 219,736 (219,736) 707 Total $ 420,626 64,285 219,736 (219,736) 484,911 Operating expenses: Lease operating $ 24,742 — — — 24,742 Gathering, compression, processing, and transportation 631,845 — 42,067 (42,067) 631,845 Impairment of oil and gas properties 37,350 — — — 37,350 Depletion, depreciation, and amortization 214,035 — 27,745 (27,745) 214,035 General and administrative 38,403 — 12,422 (12,422) 38,403 Other 32,405 113,053 2,776 (2,776) 145,458 Total 978,780 113,053 85,010 (85,010) 1,091,833 Operating income (loss) $ (558,154) (48,768) 134,726 (134,726) (606,922) Equity in earnings of unconsolidated affiliates $ 20,228 — 20,947 (20,947) 20,228 Investments in unconsolidated affiliates $ 279,805 — 729,823 (729,823) 279,805 Segment assets $ 13,711,749 32,241 5,715,055 (5,715,055) 13,743,990 Capital expenditures for segment assets $ 263,522 — 55,431 (55,431) 263,522 The operating results and assets of the Company’s reportable segments were as follows for the six months ended June 30, 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 Six months ended June 30, 2019: Sales and revenues: Third-party $ 2,176,459 154,266 50 — 2,330,775 Intersegment 3,518 — 309,676 (306,898) 6,296 Total $ 2,179,977 154,266 309,726 (306,898) 2,337,071 Operating expenses: Lease operating $ 83,826 — 62,377 (63,614) 82,589 Gathering, compression, processing, and transportation 1,101,849 — 15,233 (125,719) 991,363 Impairment of oil and gas properties 212,243 — — — 212,243 Impairment of midstream assets — — 7,576 (594) 6,982 Depletion, depreciation, and amortization 460,796 — 44,097 (22,390) 482,503 General and administrative 92,290 — 54,431 (36,137) 110,584 Other 82,892 300,623 4,795 (3,792) 384,518 Total 2,033,896 300,623 188,509 (252,246) 2,270,782 Operating income (loss) $ 146,081 (146,357) 121,217 (54,652) 66,289 Equity in earnings of unconsolidated affiliates $ 15,402 — 16,503 (4,239) 27,666 Investments in unconsolidated affiliates $ 1,967,203 — 1,186,161 (1,186,161) 1,967,203 Segment assets $ 17,305,519 25,361 6,769,009 (6,769,009) 17,330,880 Capital expenditures for segment assets $ 761,034 — 141,190 (88,038) 814,186 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Six months ended June 30, 2020: Sales and revenues: Third-party $ 1,690,153 110,358 — — 1,800,511 Intersegment 1,505 — 463,444 (463,444) 1,505 Total $ 1,691,658 110,358 463,444 (463,444) 1,802,016 Operating expenses: Lease operating $ 50,386 — — — 50,386 Gathering, compression, processing, and transportation 1,220,469 — 90,795 (90,795) 1,220,469 Impairment of oil and gas properties 126,570 — — — 126,570 Impairment of midstream assets — — 664,544 (664,544) — Depletion, depreciation, and amortization 413,712 — 55,088 (55,088) 413,712 General and administrative 69,624 — 25,959 (25,959) 69,624 Other 59,418 206,326 11,496 (11,496) 265,744 Total 1,940,179 206,326 847,882 (847,882) 2,146,505 Operating loss $ (248,521) (95,968) (384,438) 384,438 (344,489) Equity in earnings (loss) of unconsolidated affiliates $ (107,827) — 40,024 (40,024) (107,827) Investments in unconsolidated affiliates $ 279,805 — 729,823 (729,823) 279,805 Segment assets $ 13,711,749 32,241 5,715,055 (5,715,055) 13,743,990 Capital expenditures for segment assets $ 575,133 — 123,414 (123,414) 575,133

Subsidiary Guarantors (Tables)

Subsidiary Guarantors (Tables)	6 Months Ended
Subsidiary Guarantors (Tables)	Jun. 30, 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 affiliate 243,048 812,129 — — 1,055,177 Investments in consolidated affiliate 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 (loss) 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: Cash $ (6,793) — 6,793 — — Accounts receivable 57,013 — — — 57,013 Accounts receivable, related parties — 365,255 12,523 (377,778) — Accrued revenue 249,201 — 5,662 — 254,863 Derivative instruments 521,459 — — — 521,459 Other current assets 8,942 — — — 8,942 Total current assets 829,822 365,255 24,978 (377,778) 842,277 Property and equipment: Oil and gas properties, at cost (successful efforts method): Unproved properties 1,231,051 — 46,425 — 1,277,476 Proved properties 11,168,728 — 820,574 — 11,989,302 Gathering systems and facilities 5,802 — — — 5,802 Other property and equipment 72,649 — — — 72,649 12,478,230 — 866,999 — 13,345,229 Less accumulated depletion, depreciation, and amortization (3,406,859) — (1,240) — (3,408,099) Property and equipment, net 9,071,371 — 865,759 — 9,937,130 Operating leases right-of-use assets 2,562,945 — — — 2,562,945 Derivative instruments 103,514 — — — 103,514 Investment in unconsolidated affiliate 68,134 211,671 — — 279,805 Investments in consolidated affiliates 795,965 — — (795,965) — Other assets 18,319 — — — 18,319 Total assets $ 13,450,070 576,926 890,737 (1,173,743) 13,743,990 Liabilities and Equity Current liabilities: Accounts payable $ 33,323 — 3,413 — 36,736 Accounts payable, related parties 447,284 — 3,869 (377,778) 73,375 Accrued liabilities 339,388 — — — 339,388 Revenue distributions payable 173,759 — — — 173,759 Derivative instruments 2,905 — 747 — 3,652 Short-term lease liabilities 230,499 — — — 230,499 Other current liabilities 6,831 — — — 6,831 Total current liabilities 1,233,989 — 8,029 (377,778) 864,240 Long-term liabilities: Long-term debt 3,518,076 — — — 3,518,076 Deferred income tax liability 529,598 — — — 529,598 Derivative instruments 967 — 1,591 — 2,558 Long-term lease liabilities 2,334,227 — — — 2,334,227 Other liabilities 62,312 — — — 62,312 Total liabilities 7,679,169 — 9,620 (377,778) 7,311,011 Equity: Stockholders' equity: Common stock 2,684 — 879,070 (879,070) 2,684 Additional paid-in capital 4,970,105 1,341,780 — (213,718) 6,098,167 Accumulated earnings (loss) 798,112 (764,854) 2,047 — 35,305 Total stockholders' equity 5,770,901 576,926 881,117 (1,092,788) 6,136,156 Noncontrolling interest — — — 296,823 296,823 Total liabilities and equity $ 13,450,070 576,926 890,737 (1,173,743) 13,743,990 Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended June 30, 2019 Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 553,372 — — — 553,372 Natural gas liquids sales 303,963 — — — 303,963 Oil sales 49,062 — — — 49,062 Commodity derivative fair value gains 328,427 — — — 328,427 Marketing 63,080 — — — 63,080 Other income 1,760 — — — 1,760 Total revenue and other 1,299,664 — — — 1,299,664 Operating expenses: Lease operating 40,857 — — — 40,857 Gathering, compression, processing, and transportation 566,834 — — — 566,834 Production and ad valorem taxes 30,968 — — — 30,968 Marketing 137,539 — — — 137,539 Exploration 314 — — — 314 Impairment of oil and gas properties 130,999 — — — 130,999 Depletion, depreciation, and amortization 242,302 — — — 242,302 Loss on sale of assets 951 — — — 951 Accretion of asset retirement obligations 918 — — — 918 General and administrative 42,382 — — — 42,382 Contract termination and rig stacking 5,604 — — — 5,604 Total operating expenses 1,199,668 — — — 1,199,668 Operating income (loss) 99,996 — — — 99,996 Other income (expenses): Equity in earnings of unconsolidated affiliates 4,410 9,175 — — 13,585 Interest expense, net (54,164) — — — (54,164) Total other income (expenses) (49,754) 9,175 — — (40,579) Income before income taxes 50,242 9,175 — — 59,417 Provision for income tax expense (17,249) — — — (17,249) Net income and comprehensive income attributable to Antero Resources Corporation $ 32,993 9,175 — — 42,168 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2020 Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 363,975 — 3,440 — 367,415 Natural gas liquids sales 210,251 — 1,946 — 212,197 Oil sales 7,965 — 357 — 8,322 Commodity derivative fair value losses (165,676) — (2,339) — (168,015) Marketing 64,285 — — — 64,285 Other income 745 — — (38) 707 Total revenue and other 481,545 — 3,404 (38) 484,911 Operating expenses: Lease operating 24,742 — — — 24,742 Gathering, compression, processing, and transportation 631,845 — — — 631,845 Production and ad valorem taxes 19,913 — 79 — 19,992 Marketing 113,053 — — — 113,053 Exploration 231 — — — 231 Impairment of oil and gas properties 37,350 — — — 37,350 Depletion, depreciation, and amortization 212,795 — 1,240 — 214,035 Accretion of asset retirement obligations 1,111 — — — 1,111 General and administrative 38,403 — 38 (38) 38,403 Contract termination and rig stacking 11,071 — — — 11,071 Total operating expenses 1,090,514 — 1,357 (38) 1,091,833 Operating income (loss) (608,969) — 2,047 — (606,922) Other income (expenses): Equity in earnings of unconsolidated affiliates 355 19,873 — — 20,228 Transaction expense (6,138) — — — (6,138) Interest expense, net (51,811) — — — (51,811) Gain on early extinguishment of debt 39,171 — — — 39,171 Total other income (expenses) (18,423) 19,873 — — 1,450 Income (loss) before income taxes (627,392) 19,873 2,047 — (605,472) Provision for income tax benefit 142,404 — — — 142,404 Net income (loss) and comprehensive income (loss) including noncontrolling interests (484,988) 19,873 2,047 — (463,068) Net income and comprehensive income attributable to noncontrolling interests — 236 236 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (484,988) 19,873 2,047 (236) (463,304) Condensed Consolidating Statement of Operations and Comprehensive Income Six Months Ended June 30, 2019 Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 1,210,638 — — — 1,210,638 Natural gas liquids sales 617,648 — — — 617,648 Oil sales 97,114 — — — 97,114 Commodity derivative fair value gains 251,059 — — — 251,059 Gathering, compression, water handling and treatment — — 218,360 (213,881) 4,479 Marketing 154,266 — — — 154,266 Other income 3,518 — — (1,651) 1,867 Total revenue and other 2,334,243 — 218,360 (215,532) 2,337,071 Operating expenses: Lease operating 83,826 — 64,818 (66,055) 82,589 Gathering, compression, processing, and transportation 1,101,849 — — (110,486) 991,363 Production and ad valorem taxes 65,706 — — 940 66,646 Marketing 300,623 — — — 300,623 Exploration 440 — — — 440 Impairment of oil and gas properties 212,243 — — — 212,243 Impairment of midstream assets — — 6,982 — 6,982 Depletion, depreciation, and amortization 460,796 — 21,707 — 482,503 Loss on sale of asset 951 951 Accretion of asset retirement obligations 1,831 — 63 — 1,894 General and administrative 92,290 — 18,793 (499) 110,584 Contract termination and rig stacking 13,964 — — — 13,964 Accretion of contingent acquisition consideration — — 1,928 (1,928) — Total operating expenses 2,334,519 — 114,291 (178,028) 2,270,782 Operating income (loss) (276) — 104,069 (37,504) 66,289 Other income (expenses): Equity in earnings of unconsolidated affiliates 4,999 10,403 12,264 — 27,666 Interest expense, net (109,299) — (16,815) — (126,114) Equity in earnings of affiliates 15,021 — — (15,021) — Gain on deconsolidation of Antero Midstream Partners LP 1,205,705 200,337 — — 1,406,042 Total other expenses 1,116,426 210,740 (4,551) (15,021) 1,307,594 Income before income taxes 1,116,150 210,740 99,518 (52,525) 1,373,883 Provision for income tax expense (305,959) — — — (305,959) Net income and comprehensive income including noncontrolling interests 810,191 210,740 99,518 (52,525) 1,067,924 Net income and comprehensive income attributable to noncontrolling interests — — — 46,993 46,993 Net income and comprehensive income attributable to Antero Resources Corporation $ 810,191 210,740 99,518 (99,518) 1,020,931 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Revenue and other: Natural gas sales $ 775,057 — 3,440 — 778,497 Natural gas liquids sales 467,924 — 1,946 — 469,870 Oil sales 43,611 — 357 — 43,968 Commodity derivative fair value gains (losses) 400,157 — (2,339) — 397,818 Marketing 110,358 — — — 110,358 Other income 1,543 — — (38) 1,505 Total revenue and other 1,798,650 — 3,404 (38) 1,802,016 Operating expenses: Lease operating 50,386 — — — 50,386 Gathering, compression, processing, and transportation 1,220,469 — — — 1,220,469 Production and ad valorem taxes 45,612 — 79 — 45,691 Marketing 206,326 — — — 206,326 Exploration 441 — — — 441 Impairment of oil and gas properties 126,570 — — — 126,570 Depletion, depreciation, and amortization 412,472 — 1,240 — 413,712 Accretion of asset retirement obligations 2,215 — — — 2,215 General and administrative 69,624 — 38 (38) 69,624 Contract termination and rig stacking 11,071 — — — 11,071 Total operating expenses 2,145,186 — 1,357 (38) 2,146,505 Operating income (loss) (346,536) — 2,047 — (344,489) Other income (expenses): Equity in loss of unconsolidated affiliates (39,957) (67,870) — — (107,827) Impairment of equity investment (143,849) (466,783) — — (610,632) Transaction expense (6,138) — — — (6,138) Interest expense, net (104,913) — — — (104,913) Gain on early extinguishment of debt 119,732 — — — 119,732 Total other expenses (175,125) (534,653) — — (709,778) Income (loss) before income taxes (521,661) (534,653) 2,047 — (1,054,267) Provision for income tax benefit 252,389 — — — 252,389 Net income (loss) and comprehensive income (loss) including noncontrolling interests (269,272) (534,653) 2,047 — (801,878) Net income and comprehensive income attributable to noncontrolling interests — — — 236 236 Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation $ (269,272) (534,653) 2,047 (236) (802,114)
Schedule of condensed consolidating statement of operations and comprehensive income	Parent Guarantor Non-Guarantor (Antero) Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash $ (6,793) — 6,793 — — Accounts receivable 57,013 — — — 57,013 Accounts receivable, related parties — 365,255 12,523 (377,778) — Accrued revenue 249,201 — 5,662 — 254,863 Derivative instruments 521,459 — — — 521,459 Other current assets 8,942 — — — 8,942 Total current assets 829,822 365,255 24,978 (377,778) 842,277 Property and equipment: Oil and gas properties, at cost (successful efforts method): Unproved properties 1,231,051 — 46,425 — 1,277,476 Proved properties 11,168,728 — 820,574 — 11,989,302 Gathering systems and facilities 5,802 — — — 5,802 Other property and equipment 72,649 — — — 72,649 12,478,230 — 866,999 — 13,345,229 Less accumulated depletion, depreciation, and amortization (3,406,859) — (1,240) — (3,408,099) Property and equipment, net 9,071,371 — 865,759 — 9,937,130 Operating leases right-of-use assets 2,562,945 — — — 2,562,945 Derivative instruments 103,514 — — — 103,514 Investment in unconsolidated affiliate 68,134 211,671 — — 279,805 Investments in consolidated affiliates 795,965 — — (795,965) — Other assets 18,319 — — — 18,319 Total assets $ 13,450,070 576,926 890,737 (1,173,743) 13,743,990 Liabilities and Equity Current liabilities: Accounts payable $ 33,323 — 3,413 — 36,736 Accounts payable, related parties 447,284 — 3,869 (377,778) 73,375 Accrued liabilities 339,388 — — — 339,388 Revenue distributions payable 173,759 — — — 173,759 Derivative instruments 2,905 — 747 — 3,652 Short-term lease liabilities 230,499 — — — 230,499 Other current liabilities 6,831 — — — 6,831 Total current liabilities 1,233,989 — 8,029 (377,778) 864,240 Long-term liabilities: Long-term debt 3,518,076 — — — 3,518,076 Deferred income tax liability 529,598 — — — 529,598 Derivative instruments 967 — 1,591 — 2,558 Long-term lease liabilities 2,334,227 — — — 2,334,227 Other liabilities 62,312 — — — 62,312 Total liabilities 7,679,169 — 9,620 (377,778) 7,311,011 Equity: Stockholders' equity: Common stock 2,684 — 879,070 (879,070) 2,684 Additional paid-in capital 4,970,105 1,341,780 — (213,718) 6,098,167 Accumulated earnings (loss) 798,112 (764,854) 2,047 — 35,305 Total stockholders' equity 5,770,901 576,926 881,117 (1,092,788) 6,136,156 Noncontrolling interest — — — 296,823 296,823 Total liabilities and equity $ 13,450,070 576,926 890,737 (1,173,743) 13,743,990
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 $ 810,191 210,740 99,518 (52,525) 1,067,924 Adjustments to reconcile net income to net cash provided by operating activities: — Depletion, depreciation, amortization, and accretion 462,627 — 21,770 — 484,397 Impairments 212,243 — 6,982 — 219,225 Commodity derivative fair value gains (251,059) — — — (251,059) Gains on settled commodity derivatives 141,791 — — — 141,791 Deferred income tax expense 304,963 — — — 304,963 Loss on sale of assets 951 — — — 951 Equity-based compensation expense 12,975 — 2,477 — 15,452 Equity in earnings of affiliates (15,021) — — 15,021 — Equity in earnings of unconsolidated affiliates (4,999) (10,403) (12,264) — (27,666) Distributions/dividends of earnings from unconsolidated affiliates 47,922 — 12,605 — 60,527 Gain on deconsolidation of Antero Midstream Partners LP (1,205,705) (200,337) — — (1,406,042) Distributions from Antero Midstream Partners LP 94,391 — — (94,391) — Other (43,002) — 750 47,922 5,670 Changes in current assets and liabilities 134,740 — (10,573) 16,808 140,975 Net cash provided by operating activities 703,008 — 121,265 (67,165) 757,108 Cash flows provided by (used in) investing activities: Additions to unproved properties (56,814) — — — (56,814) Drilling and completion costs (700,653) — — 20,565 (680,088) 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 (3,567) — (1,062) — (4,629) Investments in unconsolidated affiliates — — (25,020) — (25,020) Proceeds from the Antero Midstream Partners LP Transactions 296,611 — — — 296,611 Change in other assets (1,617) — (3,357) — (4,974) Proceeds from sale of assets 1,983 1,983 Net cash used in investing activities (464,057) — (102,225) 20,696 (545,586) Cash flows provided by (used in) financing activities: Issuance of senior notes — — 650,000 — 650,000 Borrowings (repayments) on bank credit facility, net (235,379) — 90,379 — (145,000) 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 (2,266) — (29) — (2,295) Other (515) — (845) — (1,360) Net cash provided by (used in) financing activities (238,951) — 600,492 46,469 408,010 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 Six Months Ended June 30, 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 $ (269,272) (534,653) 2,047 — (801,878) Adjustment to reconcile net income (loss) to net cash provided by operating activities: Depletion, depreciation, amortization, and accretion 414,687 — 1,240 — 415,927 Impairment of oil and gas properties 126,570 — — — 126,570 Commodity derivative fair value (gains) losses (400,157) — 2,339 — (397,818) Gains on settled commodity derivatives 524,838 — — — 524,838 Equity-based compensation expense 11,302 — — — 11,302 Deferred income tax benefit (252,389) — — — (252,389) Gain on early extinguishment of debt (119,732) — — — (119,732) Equity in loss of unconsolidated affiliates 39,957 67,870 — — 107,827 Impairment of equity investment 143,849 466,783 — — 610,632 Distributions/dividends of earnings from unconsolidated affiliates 85,511 — — — 85,511 Other 4,433 — — — 4,433 Changes in current assets and liabilities 7,043 — (5,626) — 1,417 Net cash provided by operating activities 316,640 — — — 316,640 Cash flows provided by (used in) investing activities: Additions to unproved properties (21,672) — — — (21,672) Drilling and completion costs (552,227) — — — (552,227) Additions to other property and equipment (1,234) — — — (1,234) Settlement of water earnout 125,000 — — — 125,000 Change in other assets 525 — — — 525 Net cash used in investing activities (449,608) — — — (449,608) Cash flows provided by (used in) financing activities: Repurchases of common stock (43,443) — — — (43,443) Repayment of senior notes (496,541) — — — (496,541) Borrowings on bank credit facility, net 374,000 — — — 374,000 Sale (purchase) noncontrolling interests (6,793) — 306,793 — 300,000 (Distributions) proceeds to interest holders 300,000 — (300,000) — — Employee tax withholding for settlement of equity compensation awards (331) — — — (331) Other (717) — — — (717) Net cash provided by financing activities 126,175 — 6,793 — 132,968 Net increase in cash and cash equivalents (6,793) — 6,793 — — Cash and cash equivalents, beginning of period — — — — — Cash and cash equivalents, end of period $ (6,793) — 6,793 — —

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 12, 2019	Jun. 30, 2020	Jun. 15, 2020	Dec. 31, 2019
Basis of Presentation
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Incremental override (percentage)			2.00%
Accounts Payable
Basis of Presentation
Bank Overdrafts		$ 5		$ 7
Revenue distributions payable
Basis of Presentation
Bank Overdrafts				$ 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				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Summary of Significant Accounting Policies
Depreciation expense	$ 214,035		$ 242,302		$ 413,712	$ 482,503
Oil and Gas Properties
Exploration		$ 0		$ 0	0	0
Impairment of oil and gas properties	$ 37,350		$ 130,999		$ 126,570	$ 212,243

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - EPS and New Accounting Principle (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings per share
Basic weighted average number of shares outstanding	268,386	309,062	276,306	308,879
Diluted weighted average number of shares outstanding	268,386	309,137	276,306	309,082
Restricted stock and restricted stock unit
Earnings per share
Add: Dilutive effect of non-vested restricted stock units		33		48
Weighted Average Anti-dilutive Awards	6,165	2,284	5,697	1,877
Stock options
Earnings per share
Weighted Average Anti-dilutive Awards	454	538	454	554
Performance share unit awards
Earnings per share
Add: Dilutive effect of non-vested restricted stock units		42		155
Weighted Average Anti-dilutive Awards	1,595	2,592	1,595	1,996

Deconsolidation of Antero Mid_2

Deconsolidation of Antero Midstream Partners LP - Narrative (Details) - USD ($) $ in Thousands	Mar. 12, 2019	Jun. 30, 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

Conveyance of Overriding Inte_2

Conveyance of Overriding Interest (Details) ft in Thousands, $ in Millions	6 Months Ended
	Jun. 15, 2020USD ($)ft
Conveyance of Overriding Royalty Interest
Initial PDP Override (as a percent)	1.25%
Development Override (as a percent)	3.75%
Horizontal wells turned to sales, threshold one (in lateral feet) \| ft	2,200
Horizontal wells turned to sales, threshold two (in lateral feet) \| ft	3,820
Incremental override (percentage)	2.00%
Percentage of distributions received	85.00%
Sixth Street
Conveyance of Overriding Royalty Interest
Cash contribution \| $	$ 300
Additional contribution \| $	$ 102
Internal rate of return threshold	13.00%
Cash on cash return threshold	150.00%

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue
Revenue	$ 652,219	$ 969,477	$ 1,402,693	$ 2,084,145
Revenue from derivatives and other sources	(167,308)	330,187	399,323	252,926
Total revenue	484,911	1,299,664	1,802,016	2,337,071
Natural gas sales
Disaggregation of Revenue
Revenue	367,415	553,372	778,497	1,210,638
Oil sales
Disaggregation of Revenue
Revenue	8,322	49,062	43,968	97,114
Gathering and compression
Disaggregation of Revenue
Revenue				3,972
Water handling and treatment
Disaggregation of Revenue
Revenue				507
Marketing
Disaggregation of Revenue
Revenue	64,285	63,080	110,358	154,266
Other income
Disaggregation of Revenue
Revenue	707	1,760	1,505	1,867
Exploration and production \| Natural gas sales
Disaggregation of Revenue
Revenue	367,415	553,372	778,497	1,210,638
Exploration and production \| Natural gas liquids sales (ethane)
Disaggregation of Revenue
Revenue	26,644	30,374	53,440	65,890
Exploration and production \| Natural gas liquids sales (C3+ NGLs)
Disaggregation of Revenue
Revenue	185,553	273,589	416,430	551,758
Exploration and production \| Oil sales
Disaggregation of Revenue
Revenue	8,322	49,062	43,968	97,114
Marketing \| Marketing
Disaggregation of Revenue
Revenue	$ 64,285	$ 63,080	$ 110,358	$ 154,266

Revenue - Transaction Price All

Revenue - Transaction Price Allocation and Contract Balances (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Revenue
Original expected duration	true
Receivables from contracts with customers	$ 255	$ 318

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		4 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 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	$ 20,228	$ 13,585		(107,827)	$ 27,666
Distributions/dividends from unconsolidated affiliates				(85,511)	$ (60,527)
Impairment				$ (610,632)
Antero Midstream Corporation
Equity Method Investments
Ownership percentage	29.20%			29.20%
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				(107,827)
Distributions/dividends from unconsolidated affiliates				(85,511)
Impairment				(610,632)
Elimination of intercompany profit				28,598
Balance at end of period	$ 279,805			279,805
Balance Sheet
Current assets	100,669			100,669		$ 108,558
Noncurrent assets	5,614,386			5,614,386		6,174,320
Total assets	5,715,055			5,715,055		6,282,878
Current liabilities	98,145			98,145		242,084
Noncurrent liabilities	3,093,728			3,093,728		2,897,380
Stockholders' equity	2,523,182			2,523,182		3,143,414
Total liabilities and equity	$ 5,715,055			5,715,055		$ 6,282,878
Statement of Operations
Revenues			$ 309,726	463,444
Operating expenses			168,056	847,882
Income (loss) from operations			141,670	(384,438)
Net income (loss) attributable to the equity method investments			$ 92,471	$ (304,492)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accrued Liabilities
Capital expenditures	$ 47,026	$ 105,706
Gathering, compression, processing, and transportation expenses	159,828	134,153
Marketing expenses	48,122	52,612
Interest expense, net	26,795	30,834
Other	57,617	77,545
Total accrued liabilities	$ 339,388	$ 400,850

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 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	$ 542	$ 542	$ 791
Net unamortized debt issuance costs	(14,388)	(14,388)	(19,464)
Long-term debt	3,518,076	3,518,076	3,758,868
Amount of debt repurchased	$ 236,000	$ 619,000
Weighted average percentage discount on repurchases of debt	17.00%	19.00%
Gain on extinguishment of debt repurchased	$ 39,171	$ 119,732
Credit Facility
Long- term Debt
Long-term debt, gross	926,000	926,000	552,000
Current borrowing base	2,850,000	2,850,000
Lender commitments	2,640,000	$ 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	$ 926,000	$ 926,000	$ 552,000
Weighted average interest rate (as a percent)	3.32%	3.32%	3.28%
Outstanding letters of credit	$ 730,000	$ 730,000	$ 623,000
Credit Facility \| Minimum \| Not Investment Grade Period
Long- term Debt
Commitment fees on the unused portion during any period that is not an Investment Grade Period (as a percent)		0.30%
Credit Facility \| Maximum \| Not Investment Grade Period
Long- term Debt
Commitment fees on the unused portion during any period that is not an Investment Grade Period (as a percent)		0.375%
5.375% senior notes due 2021
Long- term Debt
Long-term debt, gross	$ 516,202	$ 516,202	952,500
Interest rate (as a percent)	5.375%	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%
5.125 senior notes due 2022
Long- term Debt
Long-term debt, gross	$ 756,030	$ 756,030	923,041
Interest rate (as a percent)	5.125%	5.125%					5.125%
Senior notes issued						$ 500,000	$ 600,000
Issue price as percentage of par value						100.50%	100.00%
Redemption price at which notes may be required to be repurchased in event of change of control		101.00%
5.125 senior notes due 2022 \| On or after June 1, 2020
Long- term Debt
Redemption price		100.00%
5.625% senior notes due 2023
Long- term Debt
Long-term debt, gross	$ 743,690	$ 743,690	750,000
Interest rate (as a percent)	5.625%	5.625%			5.625%
Senior notes issued					$ 750,000
Issue price as percentage of par value					100.00%
Redemption price		101.406%
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	$ 590,000	$ 590,000	$ 600,000
Long-term notes payable				$ 600,000
Interest rate (as a percent)	5.00%	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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Asset Retirement Obligations
Asset retirement obligations - beginning of period			$ 54,845
Obligations incurred			1,308
Accretion expense	$ 1,111	$ 918	2,215	$ 1,894
Settlement of obligations			(229)
Asset retirement obligations - end of period	$ 58,139		$ 58,139

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 17, 2020	Dec. 31, 2019
Stock-based compensation expense
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01			$ 0.01
Equity based compensation expense recognized	$ 7,973	$ 6,549	$ 11,302	$ 15,452
2020 Plan
Stock-based compensation expense
Number of stock-based compensation awards authorized					10,050,000
Number of shares available for future grant under the Plan	10,050,833		10,050,833
Midstream Plan
Stock-based compensation expense
Number of stock-based compensation awards authorized	10,000,000		10,000,000
Restricted stock awards
Stock-based compensation expense
Equity based compensation expense recognized	$ 4,080	2,624	$ 5,958	6,600
Stock options
Stock-based compensation expense
Equity based compensation expense recognized		45		389
Performance share unit awards
Stock-based compensation expense
Equity based compensation expense recognized	2,631	2,666	3,553	5,628
Antero Midstream Partners Phantom Unit Awards
Stock-based compensation expense
Equity based compensation expense recognized	$ 1,262	949	1,422	2,075
Equity awards issued to directors
Stock-based compensation expense
Equity based compensation expense recognized		$ 265	$ 369	$ 760
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	6 Months Ended
	Jun. 30, 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	(872,749)
Forfeited (in shares) \| shares	(111,014)
Total awarded and unvested at the end of the period (in shares) \| shares	6,031,746
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	13.50
Forfeited (in dollars per share) \| $ / shares	12.53
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 4.69
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 \| $	15,321
Additional equity compensation to be recognized over the remaining period \| $	$ 24,000
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 1 month 6 days

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Details) - Stock options - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Stock options
Outstanding at the beginning of the period (in shares)	467,633
Options expired (in shares)	(13,172)
Outstanding at the end of the period (in shares)	454,461	467,633
Vested or expected to vest (in shares)	454,461
Exercisable (in shares)	454,461
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 50.64
Options expired (in dollars per share)	51.50
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 4 months 6 days	5 years 18 days
Vested or expected to vest	4 years 4 months 6 days
Exercisable	4 years 4 months 6 days
Additional disclosures
Unamortized equity based compensation expense	$ 0

Equity-Based Compensation - PSU

Equity-Based Compensation - PSU awards (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)tranche$ / sharesshares	Jan. 31, 2020USD ($)
Additional disclosures
Cash awards granted		$ 3.3
Number of tranches \| tranche	3
Cash awards accrued in other liabilities	$ 1.2
Performance share unit awards
Number of units
Forfeited (in shares) \| shares	(458,485)
Total awarded and unvested at the end of the period (in shares) \| shares	2,078,798
Weighted average grant date fair value
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 14.85
Additional disclosures
Additional equity compensation to be recognized over the remaining period	$ 11
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 4 months 24 days

Equity-Based Compensation - Pha

Equity-Based Compensation - Phantom Unit Awards (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 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)	(293,868)
Forfeited (in shares)	(22,577)
Total awarded and unvested at the end of the period (in shares)	341,312
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	14.13
Forfeited (in dollars per share) \| $ / shares	14.09
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 15.24
Aggregate intrinsic value
Outstanding at the beginning of the period \| $	$ 4,992
Outstanding at the end of the period \| $	1,741
Additional equity compensation to be recognized over the remaining period \| $	$ 4,000
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 3 months 18 days
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)	(872,749)
Forfeited (in shares)	(111,014)
Total awarded and unvested at the end of the period (in shares)	6,031,746
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	13.50
Forfeited (in dollars per share) \| $ / shares	12.53
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 4.69
Aggregate intrinsic value
Additional equity compensation to be recognized over the remaining period \| $	$ 24,000
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 1 month 6 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	Jun. 30, 2020	Dec. 31, 2019
Recurring \| Level 2 market data
Financial Instruments
Fair value of senior notes	$ 1.8	$ 2.8

Derivative Instruments - Commod

Derivative Instruments - Commodity derivatives (Details)	6 Months Ended
Derivative Instruments - Commodity derivatives (Details)	Jun. 30, 2020MMBTU / d$ / bbl$ / MMBTU$ / galbblgal
Swaps \| NYMEX \| Six months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.87
Swaps \| NYMEX \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.02
Swaps \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.80
Swaps \| NYMEX \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.58
Swaps \| NYMEX \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.39
Swaps \| NYMEX \| Year ending December 31, 2023
Derivative Instruments
Weighted average index price \| $ / gal	2.38
Swaps \| NYMEX \| Year ending December 31, 2023 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.35
Swaps \| NYMEX \| Year ending December 31, 2024 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.33
Swaps \| NYMEX \| Three months ending March 31, 2025 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.53
Swaps \| ARA Propane \| Six months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / MMBTU	0.65
Swaps \| ARA Propane \| Year ending December 31, 2022
Derivative Instruments
Weighted average index price \| $ / gal	2.44
Swaps \| OPIS Propane Mt Belv Non-TET \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.49
Swaps \| OPIS Propane Mt Belv Non-TET \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.43
Swaps \| OPIS Propane Mt Belv Non-TET \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.43
Swaps \| OPIS Natural Gasoline Mt Belv Non-TET \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.67
Swaps \| OPIS Natural Gasoline Mt Belv Non-TET \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.71
Swaps \| OPIS Natural Gasoline Mt Belv Non-TET \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.72
Swaps \| OPIS Ethane Mt Belv \| Six months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / gal	0.20
Swaps \| OPIS Ethane Mt Belv \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.20
Swaps \| OPIS Ethane Mt Belv \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.17
Swaps \| OPIS Ethane Mt Belv \| Three months ending March 31, 2021
Derivative Instruments
Weighted average index price \| $ / MMBTU	0.20
Swaps \| OPIS Ethane Mt Belv \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / gal	0.16
Swaps \| NYMEX-WTI \| Six months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / MMBTU	55.63
Swaps \| NYMEX-WTI \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	37.15
Swaps \| NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Weighted average index price \| $ / bbl	55.16
Swaps \| NYMEX-WTI \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	38.99
Swaps \| NYMEX-WTI \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	40.92
Swaps \| NYMEX-WTI \| Year ending December 31, 2023 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	42.45
Swaps \| NYMEX-WTI \| Year ending December 31, 2024 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	44.02
Swaps \| NYMEX-WTI \| Three months ending March 31, 2025 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	45.06
Swaps \| Natural gas \| Six months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,227,500
Swaps \| Natural gas \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	40,217
Swaps \| Natural gas \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Swaps \| Natural gas \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	41,096
Swaps \| Natural gas \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	38,356
Swaps \| Natural gas \| Year ending December 31, 2023 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	35,616
Swaps \| Natural gas \| Year ending December 31, 2024 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	23,885
Swaps \| Natural gas \| Three months ending March 31, 2025 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	18,021
Swaps \| Natural gas \| NYMEX \| Six months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,227,500
Swaps \| Natural gas \| NYMEX \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	40,217
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	41,096
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	1,307,500
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	38,356
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/day)	150,000
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2023 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	35,616
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2024 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	23,885
Swaps \| Natural gas \| NYMEX \| Three months ending March 31, 2025 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	18,021
Swaps \| Natural gas liquids \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	34,815
Swaps \| Natural gas liquids \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	1,856
Swaps \| Natural gas liquids \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	2,201
Swaps \| Natural gas liquids \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	1,015
Swaps \| Natural gas liquids \| ARA Propane \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	10,315
Swaps \| Natural gas liquids \| OPIS Propane Mt Belv Non-TET \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	951
Swaps \| Natural gas liquids \| OPIS Propane Mt Belv Non-TET \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	932
Swaps \| Natural gas liquids \| OPIS Propane Mt Belv Non-TET \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	379
Swaps \| Natural gas liquids \| OPIS Natural Gasoline Mt Belv Non-TET \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	288
Swaps \| Natural gas liquids \| OPIS Natural Gasoline Mt Belv Non-TET \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	282
Swaps \| Natural gas liquids \| OPIS Natural Gasoline Mt Belv Non-TET \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	115
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	24,500
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	617
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	987
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Three months ending March 31, 2021
Derivative Instruments
Notional amount \| bbl	18,791
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	521
Swaps \| Oil \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| gal	26,000
Swaps \| Oil \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	118
Swaps \| Oil \| Year ending December 31, 2021
Derivative Instruments
Notional amount \| gal	3,000
Swaps \| Oil \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	94
Swaps \| Oil \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	66
Swaps \| Oil \| Year ending December 31, 2023 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	52
Swaps \| Oil \| Year ending December 31, 2024 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	43
Swaps \| Oil \| Three months ending March 31, 2025 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	39
Swaps \| Oil \| NYMEX-WTI \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| gal	26,000
Swaps \| Oil \| NYMEX-WTI \| Six months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	118
Swaps \| Oil \| NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Notional amount \| gal	3,000
Swaps \| Oil \| NYMEX-WTI \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	94
Swaps \| Oil \| NYMEX-WTI \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	66
Swaps \| Oil \| NYMEX-WTI \| Year ending December 31, 2023 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	52
Swaps \| Oil \| NYMEX-WTI \| Year ending December 31, 2024 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	43
Swaps \| Oil \| NYMEX-WTI \| Three months ending March 31, 2025 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	39
Fixed price swap agreement
Derivative Instruments
Notional amount (MMBtu/day)	427,500
Fixed price ($/MMBtu) \| $ / MMBTU	2.77

Derivative Instruments (Details

Derivative Instruments (Details)	6 Months Ended
Derivative Instruments (Details)	Jun. 30, 2020MMBTU / d$ / MMBTU$ / bbl$ / galgalbbl
NYMEX to TCO \| Six months ending December 31, 2020
Derivative Instruments
Weighted average payout ratio	0.353
NYMEX to TCO \| Year ending December 31, 2021
Derivative Instruments
Weighted average payout ratio	0.414
NYMEX to TCO \| Year ending December 31, 2022
Derivative Instruments
Weighted average payout ratio	0.515
NYMEX to TCO \| Year ending December 31, 2023
Derivative Instruments
Weighted average payout ratio	0.525
NYMEX to TCO \| Year ending December 31, 2024
Derivative Instruments
Weighted average payout ratio	0.530
Mont Belvieu Natural Gasoline to NYMEX-WTI \| Six months ending December 31, 2020
Derivative Instruments
Weighted average payout ratio	80
Mont Belvieu Natural Gasoline to NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Weighted average payout ratio	78
Swaps \| NYMEX \| Six months ending December 31, 2020
Derivative Instruments
Weighted average hedged differential \| $ / MMBTU	2.87
Swaps \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Weighted average hedged differential \| $ / MMBTU	2.80
Swaps \| NYMEX \| Year ending December 31, 2023
Derivative Instruments
Weighted average hedged differential \| $ / gal	2.38
Swaps \| NYMEX-WTI \| Six months ending December 31, 2020
Derivative Instruments
Weighted average hedged differential \| $ / MMBTU	55.63
Swaps \| NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Weighted average hedged differential \| $ / bbl	55.16
Natural gas \| Swaps \| Six months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,227,500
Natural gas \| Swaps \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Natural gas \| Swaps \| NYMEX to TCO \| Six months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	60,000
Natural gas \| Swaps \| NYMEX to TCO \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	40,000
Natural gas \| Swaps \| NYMEX to TCO \| Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	60,000
Natural gas \| Swaps \| NYMEX to TCO \| Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Natural gas \| Swaps \| NYMEX to TCO \| Year ending December 31, 2024
Derivative Instruments
Notional amount (MMBtu/day)	50,000
Natural gas \| Swaps \| NYMEX \| Six months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,227,500
Natural gas \| Swaps \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,400,000
Natural gas \| Swaps \| NYMEX \| Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	1,307,500
Natural gas \| Swaps \| NYMEX \| Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/day)	150,000
Oil \| Swaps \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| gal	26,000
Oil \| Swaps \| Year ending December 31, 2021
Derivative Instruments
Notional amount \| gal	3,000
Oil \| Swaps \| NYMEX-WTI \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| gal	26,000
Oil \| Swaps \| NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Notional amount \| gal	3,000
Natural gas liquids \| Swaps \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	34,815
Natural gas liquids \| Swaps \| Mont Belvieu Natural Gasoline to NYMEX-WTI \| Six months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	11,800
Natural gas liquids \| Swaps \| Mont Belvieu Natural Gasoline to NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Notional amount \| bbl	18,650

Derivative Instruments - Fair v

Derivative Instruments - Fair value (Details) $ in Thousands	Jun. 30, 2020USD ($)item	Dec. 31, 2019USD ($)item
Fair value of derivative instruments
Current portion of fair value of derivative assets	$ 521,459	$ 422,849
Noncurrent portion of fair value of derivative assets	103,514	333,174
Current portion of fair value of derivative liabilities	3,652	6,721
Noncurrent portion of fair value of derivative liabilities	2,558	3,519
Commodity derivative
Fair value of derivative instruments
Total asset derivatives	624,973	756,023
Total liability derivatives	6,210	10,240
Derivatives not designated as hedges for accounting purposes
Fair value of derivative instruments
Total asset derivatives	624,973	756,023
Total liability derivatives	6,210	10,240
Net derivatives	618,763	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	521,459	422,849
Noncurrent portion of fair value of derivative assets	103,514	333,174
Current portion of fair value of derivative liabilities	3,652	6,721
Noncurrent portion of fair value of derivative liabilities	2,558	$ 3,519
Derivatives not designated as hedges for accounting purposes \| Commodity derivative \| VIE, Martica
Fair value of derivative instruments
Total liability derivatives	$ 2,000
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	Jun. 30, 2020	Dec. 31, 2019
Commodity derivative assets
Gross amounts on balance sheet	$ 782,629	$ 882,817
Gross amounts offset on balance sheet	(157,656)	(126,794)
Total asset derivatives	624,973	756,023
Commodity derivative liabilities
Gross amounts on balance sheet	(163,866)	(137,034)
Gross amounts offset on balance sheet	157,656	126,794
Total liability derivatives	$ (6,210)	$ (10,240)

Derivative Instruments - Fair_2

Derivative Instruments - Fair value gains (losses) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains (losses)		$ (168,015)	$ 328,427	$ 397,818	$ 251,059
Subsequent event
Summary of realized and unrealized gains (losses) on derivative instruments
Proceeds from derivative	$ 29,000
Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Commodity derivative fair value gains (losses)		$ (168,015)	$ 328,427	$ 397,818	$ 251,059

Leases (Details)

Leases (Details)	6 Months Ended
Leases (Details)	Jun. 30, 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	Jun. 30, 2020	Dec. 31, 2019
Lease Assets
Operating leases right-of-use assets	$ 2,562,945	$ 2,886,500
Finance leases, right of use assets	1,781	2,498
Finance leases, accumulated amortization	3,000	9,000
Short-term lease liabilities, operating leases	229,415	304,397
Long-term lease liabilities, operating leases	2,333,530	2,582,103
Total lease liabilities, operating leases	2,562,945	2,886,500
Short-term lease liabilities, finance leases	1,084	923
Long-term lease liabilities, finance leases	697	1,575
Total	1,781	2,498
Vehicles
Lease Assets
Operating leases right-of-use assets	3,459	4,983
Finance leases, right of use assets	1,781	2,328
Other office and field equipment
Lease Assets
Operating leases right-of-use assets	898	166
Finance leases, right of use assets		170
Processing plants
Lease Assets
Operating leases right-of-use assets	1,418,728	1,460,770
Drilling and completion rigs
Lease Assets
Operating leases right-of-use assets	31,055	71,662
Gas gathering lines and compressor stations
Lease Assets
Operating leases right-of-use assets	1,070,090	1,308,428
Gas gathering lines and compressor stations \| Antero Midstream Corporation
Lease Assets
Finance leases, accumulated amortization	900,000	900,000
Office space
Lease Assets
Operating leases right-of-use assets	$ 38,715	$ 40,491

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases
Total lease expense	$ 359,483	$ 224,025	$ 715,007	$ 422,617
Capitalized operating leases	26,000	53,000	59,000	108,000
Short-term lease costs	29,000	39,000	92,000	74,000
Cash paid for amounts included in the measurement of lease liabilities: Operating cash out flows related to operating leases	303,758	207,244	661,797	357,564
Cash paid for amounts included in the measurement of lease liabilities: Investing cash out flows related to operating leases	35,745	46,532	63,279	98,898
Cash paid for amounts included in the measurement of lease liabilities for operating leases	339,503	253,776	725,076	456,462
Cash paid for amounts included in the measurement of lease liabilities: Financing cash out flows related to financing leases	278	873	717	1,664
Cash paid for amounts included in the measurement of lease liabilities for finance leases	278	873	717	1,664
Leased assets obtained in exchange for new operating lease liabilities	104,380		113,762	3,345,549
Gathering, compression, water handling and treatment
Leases
Total lease expense	350,853	218,542	703,496	406,389
General and administrative
Leases
Total lease expense	2,789	2,810	5,670	5,536
Contract termination and rig stacking
Leases
Total lease expense	5,841	2,673	5,841	10,692
Maximum
Leases
Finance leases, interest expense	1,000	1,000
Capitalized finance leases	$ 1,000	$ 1,000	$ 1,000	$ 1,000

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Future minimum payments for operating lease liabilities
Remainder of 2020	$ 311,128
2021	582,546
2022	567,631
2023	563,076
2024	554,308
2025	481,630
Thereafter	1,501,759
Total lease payments	4,562,078
Less: imputed interest	(1,999,133)
Total lease liabilities, operating leases	2,562,945	$ 2,886,500
Future minimum payments for financing lease liabilities
Remainder of 2020	647
2021	844
2022	321
2023	7
Total lease payments	1,819
Less: imputed interest	(38)
Total	1,781	$ 2,498
Future minimum payments for total lease liabilities
Remainder of 2020	311,775
2021	583,390
2022	567,952
2023	563,083
2024	554,308
2025	481,630
Thereafter	1,501,759
Total lease payments	4,563,897
Less: imputed interest	(1,999,171)
Total	$ 2,564,726

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Jun. 30, 2020
Leases
Weighted-average remaining lease term: Operating lease	8 years 6 months
Weighted-average discount rate: Operating lease	15.10%
Weighted-average remaining lease term: Finance lease	1 year 9 months 18 days
Weighted-average discount rate: Finance lease	6.10%

Leases - Related party disclosu

Leases - Related party disclosure (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Leases
Amount included within accounts payable, related parties	$ 73,375		$ 73,375		$ 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		10 years
Notice period			180 days
Rebate received	$ 12,000
Gathering and compression fees paid	166,000	$ 163,000	$ 321,000	$ 315,000
Amount included within accounts payable, related parties	$ 53,000		$ 53,000		$ 57,000

Commitments (Details)

Commitments (Details) $ in Thousands	Jun. 30, 2020USD ($)
Future minimum payments
Remainder of 2020	$ 899,046
2021	1,717,969
2022	1,654,657
2023	1,677,622
2024	1,628,921
2025	1,505,732
Thereafter	8,534,009
Total	17,617,956
Firm transportation
Future minimum payments
Remainder of 2020	556,683
2021	1,075,940
2022	1,033,099
2023	1,055,974
2024	1,015,926
2025	976,717
Thereafter	6,927,112
Total	12,641,451
Gas processing, gathering and compression
Future minimum payments
Remainder of 2020	28,177
2021	55,780
2022	53,606
2023	58,565
2024	58,687
2025	47,385
Thereafter	105,138
Total	407,338
Land payment obligations
Future minimum payments
Remainder of 2020	2,411
2021	2,859
Total	5,270
Operating and Financing Leases
Future minimum payments
Remainder of 2020	121,082
2021	224,744
2022	242,182
2023	275,311
2024	310,952
2025	286,511
Thereafter	1,103,944
Total	2,564,726
Imputed Interest for Leases
Future minimum payments
Remainder of 2020	190,693
2021	358,646
2022	325,770
2023	287,772
2024	243,356
2025	195,119
Thereafter	397,815
Total	$ 1,999,171

Contingencies (Details)

Contingencies (Details)	Jun. 20, 2019USD ($)	Feb. 01, 2018MMBTU / d	Jan. 31, 2018MMBTU / d	Jan. 31, 2018MMBTU / d	Nov. 30, 2017MMBTU / d	Jul. 31, 2017MMBTU / d	Jun. 30, 2020USD ($)	Nov. 30, 2018MMBTU / d	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Doddridge County, Tyler County and Ritchie County, West Virginia \| Minimum
Contingencies
Damages sought \| $							$ 100,000
WGL
Contingencies
Damages awarded \| $	$ 96,000,000
Natural gas long term purchase contract volume increase after specified events (in MMBtu)/day \| MMBTU / d								530,000
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 _3

Contract Termination and Rig Stacking (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Contract Termination and Rig Stacking
Contract termination and rig stacking	$ 11,071	$ 5,604	$ 11,071	$ 13,964

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Sales and revenues:
Sales and revenues	$ 484,204	$ 1,297,950	$ 1,800,511	$ 2,330,775
Sales and revenues	707	1,714		6,296
Sales and revenues	484,911	1,299,664	1,802,016	2,337,071
Operating expenses:
Impairment of oil and gas properties	37,350	130,999	126,570	212,243
Impairment of midstream assets				6,982
Depletion, depreciation, and amortization	214,035	242,302	413,712	482,503
General and administrative	38,403	42,382	69,624	110,584
Other operating expenses	145,458	176,294	265,744	384,518
Total operating expenses	1,091,833	1,199,668	2,146,505	2,270,782
Operating income (loss)	(606,922)	99,996	(344,489)	66,289
Equity in earnings (loss) of unconsolidated affiliates	20,228	13,585	(107,827)	27,666
Investment in unconsolidated affiliate	279,805	1,967,203	279,805	1,967,203	$ 1,055,177
Segment assets	13,743,990	17,330,880	13,743,990	17,330,880	$ 15,197,569
Capital expenditures for segment assets	263,522	342,253	575,133	814,186
Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	631,845	566,834	1,220,469	991,363
Lease operating
Operating expenses:
Cost of goods and services sold	24,742	40,857	50,386	82,589
Operating segments \| Exploration and production
Sales and revenues:
Sales and revenues	419,919	1,234,824	1,690,153	2,176,459
Sales and revenues	707	1,760		3,518
Sales and revenues	420,626	1,236,584	1,691,658
Operating expenses:
Impairment of oil and gas properties	37,350	130,999	126,570	212,243
Depletion, depreciation, and amortization	214,035	242,302	413,712	460,796
General and administrative	38,403	42,382	69,624	92,290
Other operating expenses	32,405	38,755	59,418	82,892
Total operating expenses	978,780	1,062,129	1,940,179	2,033,896
Operating income (loss)	(558,154)	174,455	(248,521)	146,081
Equity in earnings (loss) of unconsolidated affiliates	20,228	13,585	(107,827)	15,402
Investment in unconsolidated affiliate	279,805	1,967,203	279,805	1,967,203
Segment assets	13,711,749	17,305,519	13,711,749	17,305,519
Capital expenditures for segment assets	263,522	342,253	575,133	761,034
Operating segments \| Exploration and production \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	631,845	566,834	1,220,469	1,101,849
Operating segments \| Exploration and production \| Lease operating
Operating expenses:
Cost of goods and services sold	24,742	40,857	50,386	83,826
Operating segments \| Marketing
Sales and revenues:
Sales and revenues	64,285	63,080	110,358	154,266
Sales and revenues	64,285	63,080	110,358
Operating expenses:
Other operating expenses	113,053	137,539	206,326	300,623
Total operating expenses	113,053	137,539	206,326	300,623
Operating income (loss)	(48,768)	(74,459)	(95,968)	(146,357)
Segment assets	32,241	25,361	32,241	25,361
Operating segments \| Antero Midstream Corporation
Sales and revenues:
Sales and revenues		46		50
Sales and revenues	219,736	255,572		309,676
Sales and revenues	219,736	255,618	463,444	309,726
Operating expenses:
Impairment of midstream assets		594	664,544	7,576
Depletion, depreciation, and amortization	27,745	36,447	55,088	44,097
General and administrative	12,422	34,622	25,959	54,431
Other operating expenses	2,776	3,504	11,496	4,795
Total operating expenses	85,010	138,027	847,882	188,509
Operating income (loss)	134,726	117,591	(384,438)	121,217
Equity in earnings (loss) of unconsolidated affiliates	20,947	13,623	40,024	16,503
Investment in unconsolidated affiliate	729,823	1,186,161	729,823	1,186,161
Segment assets	5,715,055	6,769,009	5,715,055	6,769,009
Capital expenditures for segment assets	55,431	125,185	123,414	141,190
Operating segments \| Antero Midstream Corporation \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	42,067	12,311	90,795	15,233
Operating segments \| Antero Midstream Corporation \| Lease operating
Operating expenses:
Cost of goods and services sold		50,549		62,377
Elimination of intersegment transaction
Sales and revenues:
Sales and revenues	(219,736)	(255,618)	1,505	(306,898)
Sales and revenues	(219,736)	(255,618)	(463,444)	(306,898)
Operating expenses:
Impairment of midstream assets		(594)	(664,544)	(594)
Depletion, depreciation, and amortization	(27,745)	(36,447)	(55,088)	(22,390)
General and administrative	(12,422)	(34,622)	(25,959)	(36,137)
Other operating expenses	(2,776)	(3,504)	(11,496)	(3,792)
Total operating expenses	(85,010)	(138,027)	(847,882)	(252,246)
Operating income (loss)	(134,726)	(117,591)	384,438	(54,652)
Equity in earnings (loss) of unconsolidated affiliates	(20,947)	(13,623)	(40,024)	(4,239)
Investment in unconsolidated affiliate	(729,823)	(1,186,161)	(729,823)	(1,186,161)
Segment assets	(5,715,055)	(6,769,009)	(5,715,055)	(6,769,009)
Capital expenditures for segment assets	(55,431)	(125,185)	(123,414)	(88,038)
Elimination of intersegment transaction \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	$ (42,067)	(12,311)	(90,795)	(125,719)
Elimination of intersegment transaction \| Lease operating
Operating expenses:
Cost of goods and services sold		$ (50,549)		(63,614)
Elimination of intersegment transaction \| Exploration and production
Sales and revenues:
Sales and revenues			1,505
Sales and revenues				2,179,977
Elimination of intersegment transaction \| Marketing
Sales and revenues:
Sales and revenues				$ 154,266
Elimination of intersegment transaction \| Antero Midstream Corporation
Sales and revenues:
Sales and revenues			$ 463,444

Subsidiary Guarantors - Balance

Subsidiary Guarantors - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Current assets:
Accounts receivable	$ 57,013	$ 46,419
Accounts receivable, related parties		125,000
Accrued revenue	254,863	317,886
Derivative instruments	521,459	422,849
Other current assets	8,942	10,731
Total current assets	842,277	922,885
Unproved properties	1,277,476	1,368,854
Proved properties	11,989,302	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,649	71,895
Property and equipment, gross	13,345,229	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,408,099)	(3,327,629)
Property and equipment, net	9,937,130	9,978,739
Operating leases right-of-use assets	2,562,945	2,886,500
Derivative instruments	103,514	333,174
Investment in unconsolidated affiliate	279,805	1,055,177	$ 1,967,203
Other assets	18,319	21,094
Total assets	13,743,990	15,197,569	$ 17,330,880
Liabilities and Stockholders' Equity
Accounts payable	36,736	14,498
Accounts payable, related parties	73,375	97,883
Accrued liabilities	339,388	400,850
Revenue distributions payable	173,759	207,988
Derivative instruments	3,652	6,721
Short-term lease liabilities	230,499	305,320
Other current liabilities	6,831	6,879
Total current liabilities	864,240	1,040,139
Long-term debt	3,518,076	3,758,868
Deferred income tax liability	529,598	781,987
Derivative instruments	2,558	3,519
Long-term lease liabilities	2,334,227	2,583,678
Other liabilities	62,312	58,635
Total liabilities	7,311,011	8,226,826
Common stock	2,684	2,959
Additional paid-in capital	6,098,167	6,130,365
Accumulated earnings	35,305	837,419
Total stockholders' equity	6,136,156	6,970,743
Noncontrolling interests in consolidated subsidiary	296,823
Total liabilities and equity	13,743,990	15,197,569
Reportable legal entity \| Parent (Antero)
Current assets:
Cash	(6,793)
Accounts receivable	57,013	46,419
Accounts receivable, related parties		125,000
Accrued revenue	249,201	317,886
Derivative instruments	521,459	422,849
Other current assets	8,942	10,731
Total current assets	829,822	922,885
Unproved properties	1,231,051	1,368,854
Proved properties	11,168,728	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,649	71,895
Property and equipment, gross	12,478,230	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,406,859)	(3,327,629)
Property and equipment, net	9,071,371	9,978,739
Operating leases right-of-use assets	2,562,945	2,886,500
Derivative instruments	103,514	333,174
Investment in unconsolidated affiliate	68,134	243,048
Investment in consolidated affiliates	795,965	812,129
Other assets	18,319	21,094
Total assets	13,450,070	15,197,569
Liabilities and Stockholders' Equity
Accounts payable	33,323	14,498
Accounts payable, related parties	447,284	397,333
Accrued liabilities	339,388	400,850
Revenue distributions payable	173,759	207,988
Derivative instruments	2,905	6,721
Short-term lease liabilities	230,499	305,320
Other current liabilities	6,831	6,879
Total current liabilities	1,233,989	1,339,589
Long-term debt	3,518,076	3,758,868
Deferred income tax liability	529,598	781,987
Derivative instruments	967	3,519
Long-term lease liabilities	2,334,227	2,583,678
Other liabilities	62,312	58,635
Total liabilities	7,679,169	8,526,276
Common stock	2,684	2,959
Additional paid-in capital	4,970,105	5,600,714
Accumulated earnings	798,112	1,067,620
Total stockholders' equity	5,770,901	6,671,293
Total liabilities and equity	13,450,070	15,197,569
Reportable legal entity \| Guarantor Subsidiaries
Current assets:
Accounts receivable, related parties	365,255	299,450
Total current assets	365,255	299,450
Investment in unconsolidated affiliate	211,671	812,129
Total assets	576,926	1,111,579
Liabilities and Stockholders' Equity
Additional paid-in capital	1,341,780	1,341,780
Accumulated earnings	(764,854)	(230,201)
Total stockholders' equity	576,926	1,111,579
Total liabilities and equity	576,926	1,111,579
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica)
Current assets:
Cash	6,793
Accounts receivable, related parties	12,523
Accrued revenue	5,662
Total current assets	24,978
Unproved properties	46,425
Proved properties	820,574
Property and equipment, gross	866,999
Less accumulated depletion, depreciation, and amortization	(1,240)
Property and equipment, net	865,759
Total assets	890,737
Liabilities and Stockholders' Equity
Accounts payable	3,413
Accounts payable, related parties	3,869
Derivative instruments	747
Total current liabilities	8,029
Derivative instruments	1,591
Total liabilities	9,620
Common stock	879,070
Accumulated earnings	2,047
Total stockholders' equity	881,117
Total liabilities and equity	890,737
Eliminations
Current assets:
Accounts receivable, related parties	(377,778)	(299,450)
Total current assets	(377,778)	(299,450)
Investment in consolidated affiliates	(795,965)	(812,129)
Total assets	(1,173,743)	(1,111,579)
Liabilities and Stockholders' Equity
Accounts payable, related parties	(377,778)	(299,450)
Total current liabilities	(377,778)	(299,450)
Total liabilities	(377,778)	(299,450)
Common stock	(879,070)
Additional paid-in capital	(213,718)	(812,129)
Total stockholders' equity	(1,092,788)	(812,129)
Noncontrolling interests in consolidated subsidiary	296,823
Total liabilities and equity	$ (1,173,743)	$ (1,111,579)

Subsidiary Guarantors - Stateme

Subsidiary Guarantors - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue and other:
Revenue	$ 652,219		$ 969,477		$ 1,402,693	$ 2,084,145
Commodity derivative fair value gains (losses)	(168,015)		328,427		397,818	251,059
Gain on sale of assets			(951)			(951)
Total revenue	484,911		1,299,664		1,802,016	2,337,071
Operating expenses:
Production and ad valorem taxes	19,992		30,968		45,691	66,646
Impairment of oil and gas properties	37,350		130,999		126,570	212,243
Impairment of midstream assets						6,982
Depletion, depreciation, and amortization	214,035		242,302		413,712	482,503
Loss on sale of asset			951			951
Accretion of asset retirement obligations	1,111		918		2,215	1,894
General and administrative	38,403		42,382		69,624	110,584
Contract termination and rig stacking	11,071		5,604		11,071	13,964
Total operating expenses	1,091,833		1,199,668		2,146,505	2,270,782
Operating income (loss)	(606,922)		99,996		(344,489)	66,289
Equity in earnings (loss) of unconsolidated affiliates	20,228		13,585		(107,827)	27,666
Interest expense, net	(51,811)		(54,164)		(104,913)	(126,114)
Transaction expense	(6,138)				(6,138)
Impairment of equity investment					(610,632)
Gain on deconsolidation of Antero Midstream Partners LP						1,406,042
Gain on early extinguishment of debt	39,171				119,732
Total other income (expenses)	1,450		(40,579)		(709,778)	1,307,594
Income (loss) before income taxes	(605,472)		59,417		(1,054,267)	1,373,883
Provision for income tax (expense) benefit	142,404		(17,249)		252,389	(305,959)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(463,068)	$ (338,810)	42,168	$ 1,025,756	(801,878)	1,067,924
Less: Net income and comprehensive income attributable to noncontrolling interests	236				236	46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	(463,304)		42,168		(802,114)	1,020,931
Natural gas sales
Revenue and other:
Revenue	367,415		553,372		778,497	1,210,638
Natural gas liquids sales
Revenue and other:
Revenue	212,197		303,963		469,870	617,648
Oil sales
Revenue and other:
Revenue	8,322		49,062		43,968	97,114
Gathering, compression, water handling and treatment
Revenue and other:
Revenue						4,479
Operating expenses:
Cost of goods and services sold	631,845		566,834		1,220,469	991,363
Marketing
Revenue and other:
Revenue	64,285		63,080		110,358	154,266
Operating expenses:
Cost of goods and services sold	113,053		137,539		206,326	300,623
Exploration
Operating expenses:
Cost of goods and services sold	231		314		441	440
Lease operating
Operating expenses:
Cost of goods and services sold	24,742		40,857		50,386	82,589
Other income
Revenue and other:
Revenue	707		1,760		1,505	1,867
Reportable legal entity \| Parent (Antero)
Revenue and other:
Commodity derivative fair value gains (losses)	(165,676)		328,427		400,157	251,059
Gain on sale of assets						(951)
Total revenue	481,545		1,299,664		1,798,650	2,334,243
Operating expenses:
Production and ad valorem taxes	19,913		30,968		45,612	65,706
Impairment of oil and gas properties	37,350		130,999		126,570	212,243
Depletion, depreciation, and amortization	212,795		242,302		412,472	460,796
Loss on sale of asset			951			951
Accretion of asset retirement obligations	1,111		918		2,215	1,831
General and administrative	38,403		42,382		69,624	92,290
Contract termination and rig stacking	11,071		5,604		11,071	13,964
Total operating expenses	1,090,514		1,199,668		2,145,186	2,334,519
Operating income (loss)	(608,969)		99,996		(346,536)	(276)
Equity in earnings (loss) of unconsolidated affiliates	355		4,410		(39,957)	4,999
Interest expense, net	(51,811)		(54,164)		(104,913)	(109,299)
Equity in earnings (loss) of consolidated subsidiaries						15,021
Transaction expense	(6,138)				(6,138)
Impairment of equity investment					(143,849)
Gain on deconsolidation of Antero Midstream Partners LP						1,205,705
Gain on early extinguishment of debt	39,171				119,732
Total other income (expenses)	(18,423)		(49,754)		(175,125)	1,116,426
Income (loss) before income taxes	(627,392)		50,242		(521,661)	1,116,150
Provision for income tax (expense) benefit	142,404		(17,249)		252,389	(305,959)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(484,988)				(269,272)	810,191
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	(484,988)		32,993		(269,272)	810,191
Reportable legal entity \| Parent (Antero) \| Natural gas sales
Revenue and other:
Revenue	363,975		553,372		775,057	1,210,638
Reportable legal entity \| Parent (Antero) \| Natural gas liquids sales
Revenue and other:
Revenue	210,251		303,963		467,924	617,648
Reportable legal entity \| Parent (Antero) \| Oil sales
Revenue and other:
Revenue	7,965		49,062		43,611	97,114
Reportable legal entity \| Parent (Antero) \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	631,845		566,834		1,220,469	1,101,849
Reportable legal entity \| Parent (Antero) \| Marketing
Revenue and other:
Revenue	64,285		63,080		110,358	154,266
Operating expenses:
Cost of goods and services sold	113,053		137,539		206,326	300,623
Reportable legal entity \| Parent (Antero) \| Exploration
Operating expenses:
Cost of goods and services sold	231		314		441	440
Reportable legal entity \| Parent (Antero) \| Lease operating
Operating expenses:
Cost of goods and services sold	24,742		40,857		50,386	83,826
Reportable legal entity \| Parent (Antero) \| Other income
Revenue and other:
Revenue	745		1,760		1,543	3,518
Reportable legal entity \| Guarantor Subsidiaries
Operating expenses:
Equity in earnings (loss) of unconsolidated affiliates	19,873		9,175		(67,870)	10,403
Impairment of equity investment					(466,783)
Gain on deconsolidation of Antero Midstream Partners LP						200,337
Total other income (expenses)	19,873		9,175		(534,653)	210,740
Income (loss) before income taxes	19,873		9,175		(534,653)	210,740
Net income (loss) and comprehensive income (loss) including noncontrolling interests	19,873				(534,653)	210,740
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	19,873		$ 9,175		(534,653)	210,740
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica)
Revenue and other:
Commodity derivative fair value gains (losses)	(2,339)				(2,339)
Total revenue	3,404				3,404	218,360
Operating expenses:
Production and ad valorem taxes	79				79
Impairment of midstream assets						6,982
Depletion, depreciation, and amortization	1,240				1,240	21,707
Accretion of asset retirement obligations						63
General and administrative	38				38	18,793
Accretion of contingent acquisition consideration						1,928
Total operating expenses	1,357				1,357	114,291
Operating income (loss)	2,047				2,047	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	2,047				2,047	99,518
Net income (loss) and comprehensive income (loss) including noncontrolling interests	2,047				2,047	99,518
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	2,047				2,047	99,518
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica) \| Natural gas sales
Revenue and other:
Revenue	3,440				3,440
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica) \| Natural gas liquids sales
Revenue and other:
Revenue	1,946				1,946
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica) \| Oil sales
Revenue and other:
Revenue	357				357
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica) \| Gathering, compression, water handling and treatment
Revenue and other:
Revenue						218,360
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica) \| Lease operating
Operating expenses:
Cost of goods and services sold						64,818
Eliminations
Revenue and other:
Total revenue	(38)				(38)	(215,532)
Operating expenses:
Production and ad valorem taxes						940
General and administrative	(38)				(38)	(499)
Accretion of contingent acquisition consideration						(1,928)
Total operating expenses	(38)				(38)	(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)
Less: Net income and comprehensive income attributable to noncontrolling interests	236				236	46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	(236)				(236)	(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	$ (38)				$ (38)	$ (1,651)

Subsidiary Guarantors - Cash Fl

Subsidiary Guarantors - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests	$ (463,068)	$ (338,810)	$ 42,168	$ 1,025,756	$ (801,878)	$ 1,067,924
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, amortization, and accretion					415,927	484,397
Impairments						219,225
Impairment of oil and gas properties	37,350		130,999		126,570	212,243
Commodity derivative fair value gains	168,015		(328,427)		(397,818)	(251,059)
Gains on settled commodity derivatives					524,838	141,791
Deferred income tax expense (benefit)					(252,389)	304,963
Loss on sale of assets			951			951
Equity-based compensation expense	7,973		6,549		11,302	15,452
Gain on early extinguishment of debt	39,171				119,732
Impairment of equity investments					610,632
Equity in (earnings) loss of unconsolidated affiliates	(20,228)		(13,585)		107,827	(27,666)
Distributions/dividends of earnings from unconsolidated affiliates					85,511	60,527
Gain on deconsolidation of Antero Midstream Partners LP						(1,406,042)
Other					4,433	5,670
Changes in current assets and liabilities					1,417	140,975
Net cash provided by operating activities					316,640	757,108
Cash flows provided by (used in) investing activities:
Additions to unproved properties					(21,672)	(56,814)
Drilling and completion costs					(552,227)	(680,088)
Additions to water handling and treatment systems						(24,416)
Additions to gathering systems and facilities						(48,239)
Additions to other property and equipment					(1,234)	(4,629)
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					525	(4,974)
Proceeds from sale of assets						1,983
Net cash used in investing activities					(449,608)	(545,586)
Cash flows provided by (used in) financing activities:
Issuance of common units by Antero Midstream Partners LP					300,000
Repurchases of common stock					(43,443)
Issuance of senior notes						650,000
Repayment of senior notes					(496,541)
Borrowings (repayments) on bank credit facilities, net					374,000	(145,000)
Sale of (purchase of) noncontrolling interests					(300,000)
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					(331)	(2,295)
Other					(717)	(1,360)
Net cash provided by financing activities					132,968	408,010
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	0	0
Cash and cash equivalents, end of period	0		0		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	(484,988)				(269,272)	810,191
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, amortization, and accretion					414,687	462,627
Impairments						212,243
Impairment of oil and gas properties	37,350		130,999		126,570	212,243
Commodity derivative fair value gains	165,676		(328,427)		(400,157)	(251,059)
Gains on settled commodity derivatives					524,838	141,791
Deferred income tax expense (benefit)					(252,389)	304,963
Loss on sale of assets						951
Equity-based compensation expense					11,302	12,975
Gain on early extinguishment of debt	39,171				119,732
Equity in earnings of consolidated subsidiaries						(15,021)
Impairment of equity investments					143,849
Equity in (earnings) loss of unconsolidated affiliates	(355)		(4,410)		39,957	(4,999)
Distributions/dividends of earnings from unconsolidated affiliates					85,511	47,922
Gain on deconsolidation of Antero Midstream Partners LP						(1,205,705)
Distributions from Antero Midstream Partners LP						94,391
Other					4,433	(43,002)
Changes in current assets and liabilities					7,043	134,740
Net cash provided by operating activities					316,640	703,008
Cash flows provided by (used in) investing activities:
Additions to unproved properties					(21,672)	(56,814)
Drilling and completion costs					(552,227)	(700,653)
Additions to other property and equipment					(1,234)	(3,567)
Settlement of water earnout					125,000
Proceeds from the Antero Midstream Partners LP Transactions						296,611
Change in other assets					525	(1,617)
Proceeds from sale of assets						1,983
Net cash used in investing activities					(449,608)	(464,057)
Cash flows provided by (used in) financing activities:
Repurchases of common stock					(43,443)
Repayment of senior notes					(496,541)
Borrowings (repayments) on bank credit facilities, net					374,000	(235,379)
Sale of (purchase of) noncontrolling interests					6,793
(Distributions) proceeds to interest holders					300,000
Payments of deferred financing costs						(791)
Employee tax withholding for settlement of equity compensation awards					(331)	(2,266)
Other					(717)	(515)
Net cash provided by financing activities					126,175	(238,951)
Net increase (decrease) in cash and cash equivalents					(6,793)
Cash and cash equivalents, end of period	(6,793)				(6,793)
Reportable legal entity \| Guarantor Subsidiaries
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests	19,873				(534,653)	210,740
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	(19,873)		$ (9,175)		67,870	(10,403)
Gain on deconsolidation of Antero Midstream Partners LP						(200,337)
Reportable legal entity \| Non-Guarantor Subsidiaries (Martica)
Cash flows provided by (used in) operating activities:
Net income (loss) and comprehensive income (loss) including noncontrolling interests	2,047				2,047	99,518
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, amortization, and accretion					1,240	21,770
Impairments						6,982
Commodity derivative fair value gains	2,339				2,339
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					(5,626)	(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
Sale of (purchase of) noncontrolling interests					(306,793)
(Distributions) proceeds to interest holders					(300,000)
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					6,793	600,492
Effect of deconsolidation of Antero Midstream Partners LP						(619,532)
Net increase (decrease) in cash and cash equivalents					6,793
Cash and cash equivalents, end of period	$ 6,793				$ 6,793
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						(94,391)
Other						47,922
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