Antero Resources (AR) 10-Q28 Oct 202020 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Oct. 23, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 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	80202
City Area Code	303
Local Phone Number	357-7310
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	AR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		268,671,945
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001433270
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Accounts receivable	$ 88,062	$ 46,419
Accounts receivable, related parties		125,000
Accrued revenue	338,729	317,886
Derivative instruments	83,057	422,849
Other current assets	11,934	10,731
Total current assets	521,782	922,885
Oil and gas properties, at cost (successful efforts method):
Unproved properties	1,265,255	1,368,854
Proved properties	12,149,941	11,859,817
Gathering systems and facilities	5,802	5,802
Other property and equipment	72,936	71,895
Property and equipment, gross	13,493,934	13,306,368
Less accumulated depletion, depreciation, and amortization	(3,659,376)	(3,327,629)
Property and equipment, net	9,834,558	9,978,739
Operating leases right-of-use assets	2,660,188	2,886,500
Derivative instruments	44,070	333,174
Investment in unconsolidated affiliate	272,926	1,055,177
Other assets	16,215	21,094
Total assets	13,349,739	15,197,569
Current liabilities:
Accounts payable	55,173	14,498
Accounts payable, related parties	81,519	97,883
Accrued liabilities	344,606	400,850
Revenue distributions payable	148,917	207,988
Derivative instruments	107,933	6,721
Short-term lease liabilities	251,568	305,320
Deferred revenue, VPP	43,192
Other current liabilities	2,467	6,879
Total current liabilities	1,035,375	1,040,139
Long-term liabilities:
Long-term debt	3,158,225	3,758,868
Deferred income tax liability	381,233	781,987
Derivative instruments	149,222	3,519
Long-term lease liabilities	2,410,114	2,583,678
Deferred revenue, VPP	167,466
Other liabilities	64,223	58,635
Total liabilities	7,365,858	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 268,549 shares issued and outstanding at December 31, 2019 and September 30, 2020, respectively	2,685	2,959
Additional paid-in capital	6,165,750	6,130,365
Accumulated earnings (deficit)	(500,308)	837,419
Total stockholders' equity	5,668,127	6,970,743
Noncontrolling interests	315,754
Total equity	5,983,881	6,970,743
Total liabilities and equity	$ 13,349,739	$ 15,197,569

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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	268,549,000	295,941,000
Common stock, shares outstanding	268,549,000	295,941,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue and other:
Revenue	$ 889,492	$ 896,612	$ 2,292,185	$ 2,980,757
Commodity derivative fair value gains (losses)	(514,751)	220,788	(116,933)	471,847
Amortization of deferred revenue, VPP	5,175		5,175
Total revenue	380,591	1,118,881	2,182,607	3,455,952
Operating expenses:
Production and ad valorem taxes	25,790	28,863	71,481	95,509
Impairment of oil and gas properties	29,392	1,041,469	155,962	1,253,712
Impairment of midstream assets		7,800		14,782
Depletion, depreciation, and amortization	238,418	241,503	652,130	724,006
Loss on sale of assets				951
Accretion of asset retirement obligations	1,115	927	3,330	2,821
General and administrative	31,640	35,923	101,264	146,507
Contract termination and rig stacking	1,246	62	12,317	14,026
Total operating expenses	1,134,700	2,104,759	3,281,205	4,375,541
Operating loss	(754,109)	(985,878)	(1,098,598)	(919,589)
Other income (expenses):
Equity in earnings (loss) of unconsolidated affiliates	24,419	(117,859)	(83,408)	(90,193)
Impairment of equity investment			(610,632)
Gain on deconsolidation of Antero Midstream Partners LP				1,406,042
Transaction expense	(524)		(6,662)
Interest expense, net	(48,043)	(47,754)	(152,956)	(173,868)
Gain on early extinguishment of debt	55,633		175,365
Total other income (expenses)	31,485	(165,613)	(678,293)	1,141,981
Income (loss) before income taxes	(722,624)	(1,151,491)	(1,776,891)	222,392
Provision for income tax (expense) benefit	168,778	272,627	421,167	(33,332)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(553,846)	(878,864)	(1,355,724)	189,060
Less: net income and comprehensive income attributable to noncontrolling interests	(18,233)		(17,997)	46,993
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (535,613)	$ (878,864)	$ (1,337,727)	$ 142,067
Income (loss) per share-basic	$ (1.99)	$ (2.86)	$ (4.89)	$ 0.46
Income (loss) per share-diluted	$ (1.99)	$ (2.86)	$ (4.89)	$ 0.46
Weighted average number of shares outstanding:
Basic (in shares)	268,511	307,781	273,689	308,509
Diluted (in shares)	268,511	307,781	273,689	308,646
Natural gas sales
Revenue and other:
Revenue	$ 436,304	$ 524,448	$ 1,214,801	$ 1,735,086
Natural gas liquids sales
Revenue and other:
Revenue	327,426	284,958	797,296	902,606
Oil sales
Revenue and other:
Revenue	34,265	40,561	78,233	137,675
Gathering, compression, water handling and treatment
Revenue and other:
Revenue				4,479
Operating expenses:
Cost of goods and services sold	656,615	603,860	1,877,084	1,595,223
Marketing
Revenue and other:
Revenue	91,497	46,645	201,855	200,911
Operating expenses:
Cost of goods and services sold	128,580	108,216	334,906	408,839
Other income
Revenue and other:
Revenue	675	1,481	2,180	3,348
Lease operating
Operating expenses:
Cost of goods and services sold	21,450	35,928	71,836	118,517
Exploration
Operating expenses:
Cost of goods and services sold	$ 454	$ 208	$ 895	$ 648

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Consolidated Statements of Operations and Comprehensive Loss
Equity-based compensation expense	$ 5,699	$ 3,875	$ 17,001	$ 19,327

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Equity - USD ($) shares in Thousands, $ 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)					189,060
Balance at Sep. 30, 2019	$ 3,041	6,124,042	1,319,615		7,446,698
Balance (in shares) at Sep. 30, 2019	304,161
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
Balance at Dec. 31, 2019	$ 2,959	6,130,365	837,419		6,970,743
Balance (in shares) at Dec. 31, 2019	295,941
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
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 1	(86)			(85)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	99
Repurchases and retirements of common stock	$ (51)	(17,877)			(17,928)
Repurchases and retirements of common stock (in shares)	(5,061)
Equity-based compensation		3,875			3,875
Net income (loss) and comprehensive income (loss)			(878,864)		(878,864)
Balance at Sep. 30, 2019	$ 3,041	6,124,042	1,319,615		7,446,698
Balance (in shares) at Sep. 30, 2019	304,161
Balances at Dec. 31, 2019	$ 2,959	6,130,365	837,419		6,970,743
Balances (in shares) at Dec. 31, 2019	295,941
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
Repurchases and retirements of common stock	$ (272)	(42,418)			(42,690)
Repurchases and retirements of common stock (in shares)	(27,193)
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
Balances at Dec. 31, 2019	$ 2,959	6,130,365	837,419		6,970,743
Balances (in shares) at Dec. 31, 2019	295,941
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)					(1,355,724)
Balance at Sep. 30, 2020	$ 2,685	6,165,750	(500,308)	315,754	5,983,881
Balance (in shares) at Sep. 30, 2020	268,549
Balances at Mar. 31, 2020	$ 2,689	6,091,242	498,609		6,592,540
Balances (in shares) at Mar. 31, 2020	268,926
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
Repurchases and retirements of common stock	$ (10)	(743)			(753)
Repurchases and retirements of common stock (in shares)	(1,000)
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
Increase (Decrease) in Stockholders' Equity
Equity component of 2026 Convertible Notes, net		61,926			61,926
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 1	(42)			(41)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	159
Issuance of common units in Martica Holdings, LLC				51,000	51,000
Equity-based compensation		5,699			5,699
Net income (loss) and comprehensive income (loss)			(535,613)	(18,233)	(553,846)
Distributions to non-controlling interests				(13,836)	(13,836)
Balance at Sep. 30, 2020	$ 2,685	$ 6,165,750	$ (500,308)	$ 315,754	$ 5,983,881
Balance (in shares) at Sep. 30, 2020	268,549

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests	$ (553,846)	$ (338,810)	$ (878,864)	$ 1,025,756	$ (1,355,724)	$ 189,060
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion					655,460	726,827
Impairment of oil and gas properties	29,392		1,041,469		155,962	1,253,712
Impairment of midstream assets			7,800			14,782
Commodity derivative fair value (gains) losses	514,751		(220,788)		116,933	(471,847)
Gains on settled commodity derivatives					740,805	261,794
Proceeds from derivative monetizations					18,073
Loss on sale of assets						951
Equity-based compensation expense	5,699		3,875		17,001	19,327
Deferred income tax expense (benefit)					(426,267)	32,019
Gain on early extinguishment of debt	(55,633)				(175,365)
Equity in loss of unconsolidated affiliates	(24,419)		117,859		83,408	90,193
Impairment of equity investment					(610,632)
Gain on deconsolidation of Antero Midstream Partners LP						(1,406,042)
Distributions/dividends of earnings from unconsolidated affiliates					128,267	109,241
Amortization of deferred revenue	(5,175)				(5,175)
Amortization of debt issuance costs, debt discount debt premium and other					7,391	8,179
Changes in current assets and liabilities:
Accounts receivable					(15,454)	14,236
Accrued revenue					(20,843)	193,650
Other current assets					(1,455)	2,365
Accounts payable including related parties					(2,198)	(971)
Accrued liabilities					15,522	(11,169)
Revenue distributions payable					(54,403)	(72,176)
Other current liabilities					(60)	1,387
Net cash provided by operating activities					492,510	955,518
Cash flows provided by (used in) investing activities:
Additions to unproved properties					(31,136)	(69,796)
Drilling and completion costs					(693,920)	(957,931)
Additions to water handling and treatment systems						(24,416)
Additions to gathering systems and facilities						(48,239)
Additions to other property and equipment					(1,346)	(5,980)
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						7,461
Proceeds from VPP sale, net					215,833
Change in other assets					1,506	1,983
Net cash used in investing activities					(384,063)	(825,327)
Cash flows provided by (used in) financing activities:
Repurchases of common stock					(43,443)	(17,924)
Issuance of senior notes						650,000
Issuance of convertible notes					287,500
Repayment of senior notes					(899,971)
Borrowings (repayments) on bank credit facilities, net					275,000	(45,000)
Payments of deferred financing costs					(8,907)	(8,259)
Sale of noncontrolling interest					300,000
Distributions to noncontrolling interests					(17,249)	(85,076)
Employee tax withholding for settlement of equity compensation awards					(373)	(2,379)
Other					(1,004)	(2,021)
Net cash provided by (used in) financing activities					(108,447)	489,341
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	0	0	$ 0
Cash and cash equivalents, end of period	$ 0		$ 0		0	0	$ 0
Supplemental disclosure of cash flow information:
Cash paid during the period for interest					135,494	142,288
Decrease in accounts payable and accrued liabilities for additions to property and equipment					$ 44,302	$ 22,103

Organization

Organization	9 Months Ended
Organization	Sep. 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	9 Months Ended
Summary of Significant Accounting Policies	Sep. 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 September 30, 2020, its results of operations for the three and nine months ended September 30, 2019 and 2020 and its cash flows for the nine months ended September 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 September 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), the Company’s ownership of Antero Midstream Partners common units represented approximately a 53 % limited partner interest in Antero Midstream Partners, and Antero Resources consolidated Antero Midstream Partners’ financial position and results of operations into its 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 Antero Resources 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, Antero Resources’ 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 nine months ended September 30, 2020, the Company 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—Transactions); 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 nine months ended September 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 nine months ended September 30, 2020 represents the interest in Martica owned by third parties. See Note 4—Transactions for more information on the sale of this noncontrolling interest. Martica is a discrete entity and the assets and credits 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 was $7 million and $18 million, respectively. As of September 30, 2020, the book overdraft included within accounts payable and revenue distributions payable was $8 million and $13 million, respectively. (f) Oil and Gas Properties The Company accounts for its natural gas, NGLs, and oil exploration and development activities under the successful efforts method of accounting. Under the successful efforts method, the costs incurred to acquire, drill, and complete productive wells, development wells, and undeveloped leases are capitalized. Oil and gas lease acquisition costs are also capitalized. Exploration costs, including personnel and other internal costs, geological and geophysical expenses, delay rentals for gas and oil leases, and costs associated with unsuccessful lease acquisitions are charged to expense as incurred. Exploratory drilling costs are initially capitalized, but charged to expense if the Company determines that the well does not contain reserves in commercially viable quantities. The Company reviews exploration costs related to wells-in- progress at the end of each quarter and makes a determination, based on known results of drilling at that time, whether the costs should continue to be capitalized pending further well testing and results, or charged to expense. The Company incurred no such charges to expense during the three and nine months ended September 30, 2020. During the nine months ended September 30, 2019, the Company recorded an impairment charge of $26 million for design and initial costs related to pads that are no longer planned to be placed into service. 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, future plans to develop acreage, 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 September 30, 2019 and 2020, impairment of unproved properties was $160 million and $29 million, respectively. For the nine months ended September 30, 2019 and 2020, impairment of unproved properties was $347 million and $156 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 expense 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. Because estimated undiscounted future net cash flows based on future commodity prices as of September 30, 2019 exceeded the carrying amount of our proved properties in the Marcellus Shale as of September 30, 2019, management did not further evaluate our Marcellus proved properties for impairment. However, the carrying amount of the Company’s proved properties in the Utica Shale exceeded the estimated undiscounted future cash flows based on future commodity prices as of September 30, 2019. The Company estimated the fair value of the Utica Shale assets based on sales of other properties, estimates of proved reserves, estimated future commodity prices and future production estimates. As a result, the Company recorded an impairment expense of $881 million related to proved properties in the Utica Shale during the three months ended September 30, 2019. The Company did not incur any impairment expenses related to proved properties in the Utica Shale for the nine months ended September 30, 2020. The Company did not record any impairment expenses associated with its proved properties in the Marcellus Shale during the nine months ended September 30, 2019 and 2020. (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) Deferred Revenue Under the terms of the VPP (as defined below in Note 4—Transactions), the Company is obligated to deliver certain natural gas volumes from specified wells to an overriding royalty interest owner over the term of the arrangement. The Company has accounted for the VPP as a conveyance under Accounting Standard Codifications (“ASC”) Topic 932, Extractive Industries—Oil and Gas (“ASC 932”), which requires the net proceeds to be recognized as deferred revenue due to the Company’s future performance obligations. Deferred revenue is recognized as volumes are delivered using the units-of-production method over the term of the VPP in Amortization of deferred revenue on the Company’s unaudited condensed consolidated statements of operations. See Note 4—Transactions for further discussion of the VPP transaction. (j) Natural Gas, NGLs, and Oil Revenues The Company’s 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 the Company’s natural gas sales contracts, it delivers natural gas to the purchaser at an agreed upon delivery point. Natural gas is transported from the 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 the Company’s natural gas. The Company maintains control of the natural gas during gathering, compression, processing, and transportation. The Company’s sales contracts provide that it receives a specific index price adjusted for pricing differentials. The Company transfers control of the product at the delivery point and recognizes 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 the Company directly or by the processor under processing contracts. For NGLs sold by the Company directly, the sales contracts primarily provide that the Company delivers the product to the purchaser at an agreed upon delivery point and that it receives a specific index price adjusted for pricing differentials. The Company transfers control of the product to the purchaser at the delivery point and recognizes 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, the Company’s processing contracts provide that the Company transfers control to the processor at the tailgate of the processing plant and it recognizes revenue based on the price received from the processor. Under the Company’s oil sales contracts, Antero Resources’ generally sells oil to purchasers and collects a contractually agreed upon index price, net of pricing differentials. The Company recognizes revenue based on the contract price when it transfers 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. (k) 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. The Company retains control of the purchased natural gas and NGLs prior to delivery to the purchaser. The Company has concluded that it is the principal in these arrangements and therefore, the Company recognizes 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 the Company’s produced natural gas and NGLs. The Company satisfies performance obligations to the purchaser by transferring control of the product at the delivery point and recognizes 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. (l) 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. (m) 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. (n ) 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 and shares of common stock issuable upon conversion of the 2026 Convertible Notes (as defined below in Note 8—Long-Term Debt), calculated using the treasury stock method. The Company includes restricted stock unit (“RSUs”) awards, performance share unit (“PSUs”) awards and stock options 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 Nine months ended September 30, September 30, 2019 2020 2019 2020 Basic weighted average number of shares outstanding 307,781 268,511 308,509 273,689 Add: Dilutive effect of RSUs — — 27 — Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of PSUs — — 110 — Diluted weighted average number of shares outstanding 307,781 268,511 308,646 273,689 Weighted average number of outstanding securities excluded from calculation of diluted earnings per common share (1) RSUs 2,356 10,129 2,008 7,397 Outstanding stock options 514 432 541 432 PSUs 2,676 1,988 2,141 1,808 2026 Convertible Notes (2) — — — — (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. (2) In August 2020 and September 2020, the Company issued $287.5 million in aggregate principal amount of 4.25% convertible senior notes due September 1, 20206 (the “2026 Convertible Notes”). The Company intends to settle the principal amount of the 2026 Convertible Notes in cash upon conversion. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the 2026 Convertible Notes is considered in the diluted earnings per share computation under the treasury stock method. As of September 30, 2020, the conversion value did not exceed the principal amount of the notes, and accordingly, there was no impact to diluted earnings per share for the periods presented. See Note 8—Long-Term Debt. (o) 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. (p) Recently Issued Accounting Standard On August 5, 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Debt with Conversion and Other Options , that require separate accounting for conversion features that is currently being applied to the 2026 Convertible Notes, and instead, allows the debt instrument and conversion features to be accounted for as a single debt instrument. The new standard becomes effective for the Company on January 1, 2022, and early adoption is permitted. The Company Upon adoption of this new standard, the Company expects to reclassify $62 million, net of deferred income taxes and equity issuance costs, to long-term debt and deferred income tax liability, as applicable, from stockholders’ equity. Additionally, annual interest expense for the 2026 Convertible Notes will be based on an effective interest rate of million under the if-converted method. T he Company does not believe that adoption of the standard will impact its operational strategies or growth prospects .

Deconsolidation of Antero Midst

Deconsolidation of Antero Midstream Partners LP	9 Months Ended
Deconsolidation of Antero Midstream Partners LP	Sep. 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.

Transactions

Transactions	9 Months Ended
Transactions	Sep. 30, 2020
Transactions
Transactions	(4) Transactions 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 thresholds attributable to the ORRIs are achieved in the third quarter of 2020 and first quarter of 2021. All cash contributed by Sixth Street at the initial closing was distributed to the Company. As of September 30, 2020, the Company determined it met the production threshold related to the third quarter of 2020 whereby it became entitled to receive a $51 million cash distribution that will be paid in the fourth quarter of 2020. 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 failing to achieve 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. Volumetric Production Payment Transaction On August 10, 2020, the Company completed a volumetric production payment transaction and received net proceeds of approximately $215 million (the "VPP"). In connection with the VPP, the Company entered into a purchase and sale agreement, together with a conveyance agreement and production and marketing agreement, with J.P. Morgan Ventures Energy Corporation ("JPM-VEC") to convey, effective July 1, 2020, an overriding royalty interest in dry gas producing properties in West Virginia (the "VPP Properties") equal to 136,589,000 MMBtu over the expected seven-year term of the VPP. The Company has accounted for the VPP as a conveyance under ASC 932, and the net proceeds were recognized as deferred revenue as of September 30, 2020. Deferred revenue is recognized as volumes are delivered using the units-of-production method over the term of the VPP. Under the production and marketing agreement, Antero and its affiliates provide certain marketing services as JPM-VEC’s agent, and any income or expenses related to these services will be recorded as marketing revenue or marketing expenses (as the case may be). Contemporaneously with the VPP transaction, the Company executed a call option related to the production volumes associated with its retained interest in the VPP properties, which is collateralized by a mortgage on the VPP properties. Additionally, the production and marketing agreement contains an embedded put option related to the production volumes for the Company’s retained interest in the VPP properties, which has been bifurcated from the production and marketing arrangement and accounted for as a derivative instrument recorded at fair value as of September 30, 2020. See Note 12—Derivative Instruments.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 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 Nine months ended September 30, September 30, (in thousands) 2019 2020 2019 2020 Reportable segment Revenues from contracts with customers: Natural gas sales $ 524,448 436,304 $ 1,735,086 1,214,801 Exploration and production Natural gas liquids sales (ethane) 26,488 32,444 92,378 85,884 Exploration and production Natural gas liquids sales (C3+ NGLs) 258,470 294,982 810,228 711,412 Exploration and production Oil sales 40,561 34,265 137,675 78,233 Exploration and production Gathering and compression (1) — — 3,972 — Equity method investment in Antero Midstream Corporation Water handling and treatment (1) — — 507 — Equity method investment in Antero Midstream Corporation Marketing 46,645 91,497 200,911 201,855 Marketing Total revenue from contracts with customers 896,612 889,492 2,980,757 2,292,185 Income (loss) from derivatives and other sources 222,269 (508,901) 475,195 (109,578) Total revenue and other $ 1,118,881 380,591 $ 3,455,952 2,182,607 (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 the Company’s product sales that have a contract term greater than one year, the Company 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 the Company’s 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 the Company’s product sales that have a contract term of one year or less, the Company 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 the Company’s sales contracts, the Company invoices customers after the Company’s performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. At December 31, 2019 and September 30, 2020, the Company’s receivables from contracts with customers were $318 million and $339 million, respectively.

Equity Method Investments

Equity Method Investments	9 Months Ended
Equity Method Investments	Sep. 30, 2020
Equity Method Investments.
Equity Method Investments	(6) Equity Method Investments As of September 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 nine months ended September 30, 2020 (in thousands): Antero Midstream Corporation Balance as of December 31, 2019 $ 1,055,177 Equity in loss of unconsolidated affiliates (83,408) Distributions/dividends from unconsolidated affiliates (128,267) Impairment (1) (610,632) Elimination of intercompany profit 40,056 Balance as of September 30, 2020 $ 272,926 (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, September 30, (in thousands) 2019 2020 Current assets $ 108,558 108,008 Noncurrent assets 6,174,320 5,565,496 Total assets $ 6,282,878 5,673,504 Current liabilities $ 242,084 61,259 Noncurrent liabilities 2,897,380 3,126,754 Stockholders' equity 3,143,414 2,485,491 Total liabilities and stockholders' equity $ 6,282,878 5,673,504 Statement of Operations For the period March 13, 2019 through Nine months ended (in thousands) September 30, 2019 September 30, 2020 Revenues $ 553,521 696,859 Operating expenses 745,940 929,480 Loss from operations $ (192,419) (232,621) Loss attributable to the equity method investment $ (197,006) (198,985)

Accrued Liabilities

Accrued Liabilities	9 Months Ended
Accrued Liabilities	Sep. 30, 2020
Accrued Liabilities
Accrued Liabilities	(7) Accrued Liabilities Accrued liabilities as of December 31, 2019 and September 30, 2020 consisted of the following items (in thousands): December 31, September 30, 2019 2020 Capital expenditures $ 105,706 46,122 Gathering, compression, processing, and transportation expenses 134,153 158,043 Marketing expenses 52,612 55,777 Interest expense, net 30,834 40,355 Accrued taxes 39,332 20,403 Other 38,213 23,906 Total accrued liabilities $ 400,850 344,606

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2020
Long-Term Debt.
Long-Term Debt	(8) Long-Term Debt Long-term debt as of December 31, 2019 and September 30, 2020 consisted of the following items (in thousands): December 31, September 30, 2019 2020 Credit Facility (a) $ 552,000 827,000 5.375% senior notes due 2021 (b) 952,500 315,279 5.125% senior notes due 2022 (c) 923,041 660,516 5.625% senior notes due 2023 (d) 750,000 579,232 5.00% senior notes due 2025 (e) 600,000 590,000 4.25% convertible senior notes due 2026 (f) — 287,500 Total principal 3,777,541 3,259,527 Unamortized premium (discount), net 791 (83,658) Unamortized debt issuance costs (19,464) (17,644) Long-term debt $ 3,758,868 3,158,225 (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 was re-affirmed in October 2020 at $2.85 billion and lender commitments are $2.64 billion. The next redetermination of the borrowing base is scheduled to occur in April 2021. 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. The Company intends to extinguish Consequently, the Company has classified the Credit Facility as long-term debt. The classification of the Credit Facility does not impact any of the Company’s financial covenants. As of September 30, 2020, Antero Resources had an outstanding balance under the Credit Facility of $827 million, with a weighted average interest rate of 3.28%, 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) 4.25% Convertible Senior Notes Due 2026 On August 21, 2020, Antero Resources issued $250 million in aggregate principal amount of 2026 Convertible Notes. On September 2, 2020, Antero Resources issued an additional million of the 2026 Convertible Notes. The 2026 Convertible Notes were issued pursuant to an indenture and are senior, unsecured obligations of Antero Resources. The 2026 Convertible Notes bear interest at a fixed rate of per annum, payable semi-annually in arrears on March 1 and September 1 of each year, commencing on March 1, 2021. Proceeds from the issuance of the 2026 Convertible Notes totaled The initial conversion rate is 230.2026 shares of Antero Resources’ common stock per $1,000 principal amount of 2026 Convertible Notes, subject to adjustment upon the occurrence of specified events. The 2026 Convertible Notes will mature on September 1, 2026, unless earlier repurchased, redeemed or converted. Before May 1, 2026, note holders will have the right to convert their 2026 Convertible Notes only upon the occurrence of the following events: ● during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ending on September 30, 2020, if the Last Reported Sale Price per share of Antero Resources’ common stock exceeds 130% of the Conversion Price for each of at least 20 Trading Days (whether or not consecutive) during the 30 consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter; ● during the five consecutive Business Days immediately after any 10 consecutive trading day period (such 10 consecutive Trading Day period, the “Measurement Period”) if the trading Price per $1,000 principal amount of 2026 Convertible Notes, as determined following a request by a noteholder in accordance with the procedures set forth below, for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of common stock on such trading day and the conversion rate on such trading day; ● if Antero Resources calls any or all of the 2026 Convertible Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or ● upon the occurrence of certain specified corporate events as set forth in the indenture governing the 2026 Convertible Notes. From and after May 1, 2026, noteholders may convert their 2026 Convertible Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Upon conversion, Antero Resources may satisfy its conversion obligation by paying and/or delivering, as the case may be, cash, shares of Antero Resources’ common stock or a combination of cash and shares of Antero Resources’ common stock, at Antero Resources’ election, in the manner and subject to the terms and conditions provided in the indenture governing the 2026 Convertible Notes. Antero Resources’ current intent is to settle the principle amount of the 2026 Convertible Notes in cash upon conversion. Antero Resources’ current intent is to settle the principle amount of the 2026 Convertible Notes in cash upon conversion. At no point since issuance of the 2026 Convertible Notes has the conditions allowing holders of the 2026 Convertible Notes to exercise their conversion right been met. The conversion rate is subject to adjustment under certain circumstances in accordance with the terms of the indenture governing the 2026 Convertible Notes. In addition, following certain corporate events, as described in the indenture governing the 2026 Convertible Notes, that occur prior to the maturity date, Antero Resources will increase the conversion rate for a holder who elects to convert its 2026 Convertible Notes in connection with such a corporate event. If certain corporate events that constitute a Fundamental Change occur, then noteholders may require Antero Resources to repurchase their 2026 Convertible Notes at a cash repurchase price equal to the principal amount of the 2026 Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. The definition of Fundamental Change includes certain business combination transactions involving Antero Resources and certain de-listing events with respect to Antero Resources’ common stock. Upon issuance, the Company separately accounted for the liability and equity components of the 2026 Convertible Notes. The liability component was recorded at the estimated fair value of a similar debt instrument without the conversion feature. The difference between the principal amount of the 2026 Convertible Notes and the estimated fair value of the liability component was recorded as a debt discount and will be amortized to interest expense over the term of the 2026 Convertible Notes using the effective interest method, with an effective interest rate of 10.8% per annum. As of the issuance date, the fair value of the 2026 Convertible Notes was estimated at $203 million, resulting in a debt discount at inception of $85 million. The equity component, representing the value of the conversion option, was computed by deducting the fair value of the liability component from the initial proceeds of the 2026 Convertible Notes issuance. This equity component was recorded, net of deferred taxes and issuance costs, in additional paid-in capital within the unaudited consolidated statement of stockholders’ equity and will not be remeasured as long as it continues to meet the conditions for equity classification. Transaction costs related to the 2026 Convertible Notes issuance were allocated to the liability and equity components based on their relative fair values. Issuance costs attributable to the liability component were recorded within debt issuance costs on the unaudited consolidated balance sheet and are amortized over the term of the 2026 Convertible Notes using the effective interest method. Issuance costs attributable to the equity component were recorded as a charge to additional paid-in capital within the unaudited consolidated statement of stockholders’ equity. The 2026 Convertible Notes consist of the following as of September 30, 2020 (in thousands): Liability component: Principal $ 287,500 Less: unamortized note discount (84,084) Less: unamortized debt issuance costs (6,209) Net carrying value $ 197,207 Equity component (1) $ 84,972 (1) Recorded in additional paid-in capital, net of $3 million of issuance costs and $20 million of deferred taxes. Interest expense recognized on the 2026 Convertible Notes related to the stated interest rate and amortization of the debt discount totaled $2.3 million for the three months ended September 30, 2020. (g) Debt Repurchase Program During the three and nine months ended September 30, 2020, Antero Resources repurchased $461 million and $1.1 billion, respectively, principal amount of debt at a weighted average discount of 13% and 17% , respectively, which purchases included a portion of the 2021 Notes, 2022 Notes, 2023 Notes and 2025 Notes. The Company recognized a gain of 30, 2020, respectively, on the early extinguishment of the debt repurchased. Repurchases of the principal amount of debt during the three and nine months ended September 30, 2020 include repurchases of $367 million on the 2021 Notes, 2022 Notes and 2023 Notes through previously disclosed tender offers at a weighted average discount of 10%.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
Asset Retirement Obligations	Sep. 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 nine months ended September 30, 2020 (in thousands): Asset retirement obligations—December 31, 2019 $ 54,845 Obligations incurred 1,529 Accretion expense 3,330 Settlement of obligations (229) Asset retirement obligations—September 30, 2020 $ 59,475 Asset retirement obligations are included in other liabilities on the Company’s unaudited condensed consolidated balance sheets.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
Equity-Based Compensation	Sep. 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, RSU 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 7,149,371 shares were available for future grant under the 2020 Plan as of September 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 RSUs under the Antero Midstream Corporation Long Term Incentive Plan (the “AMC Plan”). Each RSU 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 nine months ended September 30, 2019 and 2020 (in thousands): Three months ended September 30, Nine months ended September 30, 2019 2020 2019 2020 RSU awards $ 2,229 3,063 $ 8,829 9,021 Stock options — — 389 — PSU awards 399 1,827 6,027 5,380 Antero Midstream Partners phantom unit awards (1) 867 459 2,942 1,881 Equity awards issued to directors 380 350 1,140 719 Total expense $ 3,875 5,699 $ 19,327 17,001 (1) Antero Resources recognized compensation expense for equity awards granted under both the 2013 Plan and the AMP Plan because the awards under the AMP Plan are accounted for as if they are distributed by Antero Midstream Partners to Antero Resources. Antero Resources allocates a portion of equity-based compensation expense related to grants prior to the Transactions to Antero Midstream 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 Midstream 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 RSU award activity for the nine months ended September 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 7,108,061 $ 2.39 Vested (1,045,771) $ 12.50 Forfeited (119,679) $ 12.46 Total awarded and unvested—September 30, 2020 8,313,186 $ 4.08 $ 22,862 Intrinsic values are based on the closing price of Antero Resources’ common stock on the referenced dates. As of September 30, 2020, there was approximately $26 million of unamortized equity-based compensation expense related to unvested RSUs. That expense is expected to be recognized over a weighted average period of approximately 2.3 years. Stock Options A summary of stock option activity for the nine months ended September 30, 2020 is as follows: Weighted Weighted average average remaining Intrinsic Stock exercise contractual value options price life (in thousands) Outstanding as of December 31, 2019 467,633 $ 50.64 5.05 $ — Granted — $ — Exercised — $ — Forfeited — $ — Expired (35,172) $ 50.56 Outstanding at September 30, 2020 432,461 $ 50.64 4.31 $ — Vested or expected to vest as of September 30, 2020 432,461 $ 50.64 4.31 $ — Exercisable as of September 30, 2020 432,461 $ 50.64 4.31 $ — 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 September 30, 2020, all stock options were fully vested resulting in no unamortized equity-based compensation expense. Performance Share Unit Awards Performance Share Unit Awards Based on Total Shareholder Return (“TSR”) In July 2020, the Company granted PSU awards to certain of its executive officers that vest based on Antero Resources’ absolute total shareholder return (“TSR”) determined as of the last day of each of three one-year performance periods ending on April 15, 2021, April 15, 2022, and April 15, 2023, and one cumulative three-year performance period ending on April 15, 2023, in each case, subject to the executive officer’s continued employment through April 15, 2023. The number of shares of common stock that may ultimately be earned following the end of the cumulative three-year performance period ranges from zero to 150% of the target number of PSUs granted. Expense related to these PSUs is recognized on a graded-vested basis over approximately three years . Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. Additionally, in July 2020, the Company granted PSUs to certain of its executive officers that vest based on Antero Resources’ TSR relative to the TSR of certain peer companies determined as of the last day of each of three one-year performance periods ending on April 15, 2021, April 15, 2022, and April 15, 2023, and one cumulative three-year performance period ending on April 15, 2023, in each case, subject to the executive officer’s continued employment through April 15, 2023. The number of shares of common stock that may ultimately be earned following the end of the cumulative three-year performance period ranges from zero to 150% of the target number of PSUs granted. Expense related to these PSUs is recognized on a graded-vested basis over approximately three years . Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. Weighted Number of average grant units date fair value Total awarded and unvested—December 31, 2019 2,537,283 $ 16.74 Granted 469,000 $ 2.97 Forfeited (29,316) $ 12.21 Cancelled (unearned) (458,485) $ 25.32 Total awarded and unvested—September 30, 2020 2,518,482 $ 11.94 The following table presents information regarding the weighted average fair values for market-based PSUs granted during the nine months ended September 30, 2019 and 2020, and the assumptions used to determine the fair values: Nine months ended September 30, 2019 2020 Dividend yield — % — % Volatility 36 % 80 % Risk-free interest rate 2.35 % 0.17 % Weighted average fair value of awards granted—Return on Capital Employed $ 9.26 $ — Weighted average fair value of awards granted—Absolute TSR $ — $ 2.63 Weighted average fair value of awards granted—Relative TSR $ — $ 3.30 As of September 30, 2020, there was approximately $10 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, and compensation expense for these awards is recognized ratably over the vesting period for each of three tranches through January 20, 2023. In July 2020, the Company granted additional cash awards on the aggregate of $2.6 million to certain non-executive employees under the 2020 Plan that vest ratably over four years . As of September 30, 2020, the Company has accrued approximately $2.2 million in Other liabilities in the unaudited condensed consolidated balance sheet related to cash awards. Antero Midstream Partners Phantom Unit Awards and Antero Midstream Corporation Restricted Stock Unit Awards A summary of Antero Midstream Corporation RSU awards for the nine months ended September 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 (335,051) $ 11.67 Forfeited (22,577) $ 14.09 Total awarded and unvested—September 30, 2020 300,129 $ 5.19 $ 1,558 Intrinsic values are based on the closing price of shares of Antero Midstream Corporation common stock. As of September 30, 2020, there was approximately $3 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 1.2 years.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2020
Financial Instruments
Financial Instruments	(11) Financial Instruments The carrying values of accounts receivable and accounts payable at December 31, 2019 and September 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 September 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 $1.6 billion at December 31, 2019 and September 30, 2020, respectively. The fair value of the 2026 Convertible Notes was approximately $235 million as of September 30, 2020 based on Level 2 market data inputs. 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	9 Months Ended
Derivative Instruments	Sep. 30, 2020
Derivative Instruments.
Derivative Instruments	(12) Derivative Instruments The Company is exposed to certain risks relating to its ongoing business operations, and it uses derivative instruments to manage its commodity price risk. In addition, the Company periodically enters into contracts that contain embedded features that are required to be bifurcated and accounted for separately as derivatives. (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 nine months ended September 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 September 30, 2020, the Company’s fixed price natural gas, oil and NGL swap positions from October 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 Three months ending December 31, 2020: NYMEX ($/MMBtu) 2,067,500 — — $ 2.84 ARA Propane ($/Gal) — 10,315 — 0.65 OPIS Ethane Mt Belv ($/Gal) — 24,500 — 0.20 NYMEX-WTI ($/Bbl) — — 26,000 55.63 Total 2,067,500 34,815 26,000 Three months ending March 31, 2021 OPIS Ethane Mt Belv ($/Gal) 19,000 $ 0.20 Year ending December 31, 2021: NYMEX ($/MMBtu) 2,160,000 — $ 2.77 NYMEX-WTI ($/Bbl) — 3,000 55.16 Total 2,160,000 3,000 Year ending December 31, 2022: NYMEX ($/MMBtu) 905,897 $ 2.43 Year ending December 31, 2023: NYMEX ($/MMBtu) 43,000 $ 2.37 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, the Company has 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 $2.77 per MMBtu for the year ending December 31, 2024. As of September 30, 2020, the Company’s natural gas basis swap positions, which settle on the pricing index to basis differential of the Columbia Gas Transmission pipeline (“TCO”) to the NYMEX Henry Hub natural gas price were as follows: Weighted Natural gas average hedged MMBtu/day differential Three months ending December 31, 2020: NYMEX to TCO ($/MMBtu) 15,123 $ 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 September 30, 2020, the Company had NGL contracts for January 1, 2021 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 Year ending December 31, 2021: Mont Belvieu Natural Gasoline to NYMEX-WTI 14,150 78 % As of September 30, 2020, the Company’s fixed price natural gas, oil and NGL swap positions from October 1, 2020 through March 31, 2025 for Martica, the Company’s consolidated subsidiary, 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 Three months ending December 31, 2020: NYMEX ($/MMBtu) 46,495 — — $ 2.06 OPIS Propane Mt Belv Non-TET — 982 — 0.49 OPIS Natural Gasoline Mt Belv Non-TET — 298 — 0.67 OPIS Ethane Mt Belv ($/Gal) — 633 — 0.20 NYMEX-WTI ($/Bbl) — — 128 37.78 Total 46,495 1,913 128 Year ending December 31, 2021: NYMEX ($/MMBtu) 46,536 — — $ 2.62 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) — — 117 39.94 Total 46,536 2,201 117 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 ($/Gal) — 521 — 0.16 NYMEX-WTI ($/Bbl) — — 17 43.85 Total — 1,015 17 Year ending December 31, 2022: NYMEX ($/MMBtu) 38,356 — — $ 2.39 OPIS Natural Gasoline Mt Belv Non-TET — 254 — 0.83 NYMEX-WTI ($/Bbl) — — 66 40.92 Total 38,356 254 66 Year ending December 31, 2023: NYMEX ($/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) Embedded Derivatives The VPP includes an embedded put option tied to NYMEX pricing for the production volumes associated with the Company’s retained interest in the VPP properties of 120,667,000 MMBtu remaining through December 31, 2026 at a weighted average strike price of $2.60 per MMBtu that is not clearly and closely related to the host contract. Therefore, the Company bifurcated this embedded put option and reflected it at fair value in the unaudited condensed consolidated financial statements. (c) 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 September 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 September 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 (1) Derivative instruments $ 422,849 Derivative instruments $ 75,776 Embedded derivatives—current Derivative instruments — Derivative instruments 7,281 Commodity derivatives—noncurrent (1) Derivative instruments 333,174 Derivative instruments 6,998 Embedded derivatives—noncurrent Derivative instruments — Derivative instruments 37,072 Total asset derivatives 756,023 127,127 Liability derivatives not designated as hedges for accounting purposes: Commodity derivatives—current Derivative instruments 6,721 Derivative instruments 107,933 Commodity derivatives—noncurrent Derivative instruments 3,519 Derivative instruments 149,222 Total liability derivatives 10,240 257,155 Net derivatives assets (liabilities) $ 745,783 $ (130,028) (1) Approximately $16 million of commodity derivative liabilities, including $8 million of current commodity derivatives and $8 million of noncurrent commodity derivatives, 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 September 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 $ 212,335 (129,561) 82,774 Embedded derivative assets $ — — — $ 44,353 — 44,353 Commodity derivative liabilities $ (137,034) 126,794 (10,240) $ (386,716) 129,561 (257,155) 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 nine months ended September 30, 2019 and 2020 (in thousands): Statement of Three months ended Nine months ended operations September 30, September 30, location 2019 2020 2019 2020 Commodity derivative fair value gains (losses) Revenue $ 220,788 (558,979) $ 471,847 (161,161) Embedded derivative fair value gains (losses) Revenue $ — 44,228 $ — 44,228

Leases

Leases	9 Months Ended
Leases	Sep. 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 September 30, 2020 consisted of the following items (in thousands): December 31, 2019 September 30, 2020 Operating Leases Finance Leases (2) Operating Leases Finance Leases (2) Right-of-use Assets: Processing plants $ 1,460,770 — $ 1,324,022 — Drilling rigs and completion services 71,662 — 19,480 — Gas gathering lines and compressor stations (1) 1,308,428 — 1,274,755 — Office space 40,491 — 37,784 — Vehicles 4,983 2,328 3,367 1,494 Other office and field equipment 166 170 780 — Total right-of-use assets $ 2,886,500 2,498 $ 2,660,188 1,494 (1) Gas gathering lines and compressor stations leases includes $1.1 billion related to Antero Midstream Corporation as of December 31, 2019 and September 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 September 30, 2020, respectively. The Company’s lease liabilities as of September 30, 2020 consisted of the following items (in thousands): December 31, 2019 September 30, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Location on the balance sheet: Short-term lease liabilities $ 304,397 923 $ 250,594 974 Long-term lease liabilities 2,582,103 1,575 2,409,594 520 Total lease liabilities $ 2,886,500 2,498 $ 2,660,188 1,494 The processing plants, gathering lines and compressor stations that are classified as lease liabilities are classified as such under ASC Topic 842, Leases 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 nine months ended September 30, 2020 (in thousands): Three months ended Nine months ended September 30, September 30, Statement of Operations Location 2019 2020 2019 2020 Gathering, compression, processing, and transportation $ 237,618 409,006 $ 644,007 1,112,502 General and administrative 2,859 2,969 8,395 8,639 Contract termination and rig stacking — 546 10,692 6,387 Total lease expense $ 240,477 412,521 $ 663,094 1,127,528 Costs associated with finance leases of less than $1 million for each of the three months and nine months ended September 30, 2019 and 2020 were included in interest expense. For the three months ended September 30, 2019 and 2020, the Company capitalized $53 million and $32 million, respectively, of costs related to operating leases and less than $1 million of costs related to finance leases. For the nine months ended September 30, 2019, and 2020, the Company capitalized Short-term lease costs that are more than one month but less than 12 months are excluded from the above amounts and total $41 million and $16 million, respectively, for the three months ended September 30, 2019 and 2020 and $115 million and $108 million, respectively, for the nine months ended September 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 nine months ended September 30, 2019 (in thousands): Three months ended Nine months ended September 30, 2019 September 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 $ 234,399 — $ 591,963 — Investing cash out flows related to operating leases 47,417 — 146,315 — Financing cash out flows related to financing leases — 303 — 1,967 $ 281,816 303 $ 738,278 1,967 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 nine months ended September 30, 2020 (in thousands): Three months ended Nine months ended September 30, 2020 September 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 $ 485,692 — $ 1,147,489 — Investing cash out flows related to operating leases 24,950 — 88,229 — Financing cash out flows related to financing leases — 287 — 1,004 $ 510,642 287 $ 1,235,718 1,004 Noncash activities: Right of use assets obtained in exchange for operating lease liabilities $ 64,586 — $ 178,348 — 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 September 30, 2020 (in thousands): (in thousands) Operating Leases Financing Leases Total Remainder of 2020 $ 156,878 317 157,195 2021 590,519 844 591,363 2022 578,305 321 578,626 2023 575,228 26 575,254 2024 566,460 — 566,460 2025 493,783 — 493,783 Thereafter 1,558,470 — 1,558,470 Total lease payments 4,519,643 1,508 4,521,151 Less: imputed interest (1,859,455) (14) (1,859,469) Total $ 2,660,188 1,494 2,661,682 Lease Term and Discount Rate The table below is the Company’s weighted-average remaining lease term and discount rate as of September 30, 2020: September 30, 2020 Operating Leases Finance Leases Weighted-average remaining lease term: 8.2 years 1.6 years Weighted-average discount rate: 13.8 % 6.2 % 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 the Company requests 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 during each quarter in the three and nine months ended September 30, 2020, and Antero Midstream Corporation provided a rebate of $12 million in each such quarter. Antero Midstream Corporation has provided rebates of $36 million for the nine months ended September 30, 2020. For the three and nine months ended September 30, 2019, gathering and compression fees paid by Antero related to this agreement were $171 million and $486 million, respectively. For the three and nine months ended September 30, 2020, gathering and compression fees paid by Antero related to this agreement were million, respectively. As of December 31, 2019 and September 30, 2020,

Commitments

Commitments	9 Months Ended
Commitments	Sep. 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 September 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 $ 278,430 14,089 1,527 66,340 90,855 451,241 2021 1,076,424 55,780 2,859 247,159 344,204 1,726,426 2022 1,033,787 52,712 — 267,094 311,532 1,665,125 2023 1,061,265 58,565 — 300,989 274,265 1,695,084 2024 1,021,107 58,687 — 334,693 231,767 1,646,254 2025 981,271 47,385 — 306,918 186,865 1,522,439 Thereafter 6,941,177 105,977 — 1,138,489 419,981 8,605,624 Total $ 12,393,461 393,195 4,386 2,661,682 1,859,469 17,312,193 (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 Antero Resources is committed to pay; however, the Company will record in its financial statements its proportionate share of costs based on its 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	9 Months Ended
Contingencies	Sep. 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. Subsequently, West Virginia Department of Environmental Protection (“WVDEP”) conducted its own inspections, and we have received NOVs from WVDEP alleging violations relating to similar 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. In the appeal, briefing has been completed and oral argument is scheduled for November 4, 2020. Effective February 1, 2018, as a result of an 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	9 Months Ended
Contract Termination and Rig Stacking	Sep. 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 September 30, Nine months ended September 30, 2019 2020 2019 2020 Contract termination and rig stacking $ 62 1,246 $ 14,026 12,317

Related Parties

Related Parties	9 Months Ended
Related Parties	Sep. 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	9 Months Ended
Segment Information	Sep. 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 results; however, the Company’s segment disclosures include the results of the Company’s 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 September 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 September 30, 2019: Sales and revenues: Third-party $ 1,070,755 46,645 — — 1,117,400 Intersegment 1,481 — 243,795 (243,795) 1,481 Total $ 1,072,236 46,645 243,795 (243,795) 1,118,881 Operating expenses: Lease operating $ 35,928 — 49,050 (49,050) 35,928 Gathering, compression, processing, and transportation 603,860 — 13,091 (13,091) 603,860 Impairment of oil and gas properties 1,041,469 — — — 1,041,469 Impairment of midstream assets — — 465,278 (457,478) 7,800 Depletion, depreciation, and amortization 241,503 — 24,460 (24,460) 241,503 General and administrative 35,923 — 30,595 (30,595) 35,923 Other 30,060 108,216 3,210 (3,210) 138,276 Total 1,988,743 108,216 585,684 (577,884) 2,104,759 Operating income (loss) $ (916,507) (61,571) (341,889) 334,089 (985,878) Equity in earnings (loss) of unconsolidated affiliates $ (117,859) — 18,478 (18,478) (117,859) Investments in unconsolidated affiliates $ 1,819,323 — 672,310 (672,310) 1,819,323 Segment assets $ 16,094,927 25,361 6,445,504 (6,445,504) 16,120,288 Capital expenditures for segment assets $ 292,176 — 120,875 (120,875) 292,176 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Three months ended September 30, 2020: Sales and revenues: Third-party $ 288,419 91,497 — — 379,916 Intersegment 675 — 233,415 (233,415) 675 Total $ 289,094 91,497 233,415 (233,415) 380,591 Operating expenses: Lease operating $ 21,450 — — — 21,450 Gathering, compression, processing, and transportation 656,615 — 38,052 (38,052) 656,615 Impairment of oil and gas properties 29,392 — — — 29,392 Depletion, depreciation, and amortization 238,418 — 26,801 (26,801) 238,418 General and administrative 31,640 — 13,232 (13,232) 31,640 Other 28,605 128,580 3,513 (3,513) 157,185 Total 1,006,120 128,580 81,598 (81,598) 1,134,700 Operating income (loss) $ (717,026) (37,083) 151,817 (151,817) (754,109) Equity in earnings of unconsolidated affiliates $ 24,419 — 23,173 (23,173) 24,419 Investments in unconsolidated affiliates $ 272,926 — — — 272,926 Segment assets $ 13,349,739 — 5,673,504 (5,673,504) 13,349,739 Capital expenditures for segment assets $ 151,269 — 41,851 (41,851) 151,269 The operating results and assets of the Company’s reportable segments were as follows for the nine months ended September 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 Nine months ended September 30, 2019: Sales and revenues: Third-party $ 3,247,214 200,911 50 — 3,448,175 Intersegment 4,999 — 553,471 (550,693) 7,777 Total $ 3,252,213 200,911 553,521 (550,693) 3,455,952 Operating expenses: Lease operating $ 119,754 — 111,427 (112,664) 118,517 Gathering, compression, processing, and transportation 1,705,709 — 28,324 (138,810) 1,595,223 Impairment of oil and gas properties 1,253,712 — — — 1,253,712 Impairment of midstream assets — — 472,854 (458,072) 14,782 Depletion, depreciation, and amortization 702,299 — 68,557 (46,850) 724,006 General and administrative 128,213 — 85,026 (66,732) 146,507 Other 112,952 408,839 8,005 (7,002) 522,794 Total 4,022,639 408,839 774,193 (830,130) 4,375,541 Operating income (loss) $ (770,426) (207,928) (220,672) 279,437 (919,589) Equity in earnings (loss) of unconsolidated affiliates $ (102,457) — 34,981 (22,717) (90,193) Investments in unconsolidated affiliates $ 1,819,323 — 672,310 (672,310) 1,819,323 Segment assets $ 16,094,927 25,361 6,445,504 (6,445,504) 16,120,288 Capital expenditures for segment assets $ 1,053,210 — 262,065 (208,913) 1,106,362 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Nine months ended September 30, 2020: Sales and revenues: Third-party $ 1,978,572 201,855 — — 2,180,427 Intersegment 2,180 — 696,859 (696,859) 2,180 Total $ 1,980,752 201,855 696,859 (696,859) 2,182,607 Operating expenses: Lease operating $ 71,836 — — — 71,836 Gathering, compression, processing, and transportation 1,877,084 — 128,847 (128,847) 1,877,084 Impairment of oil and gas properties 155,962 — — — 155,962 Impairment of midstream assets — — 665,491 (665,491) — Depletion, depreciation, and amortization 652,130 — 81,889 (81,889) 652,130 General and administrative 101,264 — 39,191 (39,191) 101,264 Other 88,023 334,906 14,062 (14,062) 422,929 Total 2,946,299 334,906 929,480 (929,480) 3,281,205 Operating income (loss) $ (965,547) (133,051) (232,621) 232,621 (1,098,598) Equity in earnings (loss) of unconsolidated affiliates $ (83,408) — 63,197 (63,197) (83,408) Investments in unconsolidated affiliates $ 272,926 — — — 272,926 Segment assets $ 13,349,739 — 5,673,504 (5,673,504) 13,349,739 Capital expenditures for segment assets $ 726,402 — 165,265 (165,265) 726,402

Subsidiary Guarantors

Subsidiary Guarantors	9 Months Ended
Subsidiary Guarantors	Sep. 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 tables present summarized financial information of Antero and its guarantor subsidiaries. The Company’s wholly owned subsidiaries are not restricted from making distributions to the Company. Balance Sheet Parent Guarantor (Antero) Subsidiaries December 31, September 30, December 31, September 30, (in thousands) 2019 2020 2019 2020 Accounts receivable, non-guarantor subsidiaries $ — 51,000 $ — — Accounts receivable, related parties 125,000 — 299,450 398,158 Other current assets 797,885 446,889 — 35,028 Total current assets 922,885 497,889 299,450 433,186 Noncurrent assets 14,274,684 11,813,110 812,129 202,452 Total assets $ 15,197,569 12,310,999 $ 1,111,579 635,638 Accounts payable, non-guarantor subsidiaries $ — — $ — — Accounts payable, related parties 397,333 514,705 — 35,028 Other current liabilities 942,256 945,647 — — Total current liabilities 1,339,589 1,460,352 — 35,028 Noncurrent liabilities 7,186,687 6,322,233 — — Total liabilities $ 8,526,276 7,782,585 — 35,028 Noncontrolling interests $ — 315,754 — — Statement of Operations Parent Guarantor (Antero) Subsidiaries Nine months ended Nine months ended September 30, September 30, (in thousands) 2019 2020 2019 2020 Revenues $ 3,453,124 2,158,743 — 93,318 Operating expenses 4,439,278 2,789,119 — 560,102 Income (loss) from operations (986,154) (630,376) — (466,784) Net income and comprehensive income including noncontrolling interests 10,932 (844,755) 131,135 (510,969) Net income and comprehensive income attributable to Antero Resources Corporation $ 10,932 (826,758) 131,135 (510,969)

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 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 September 30, 2020, its results of operations for the three and nine months ended September 30, 2019 and 2020 and its cash flows for the nine months ended September 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 September 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), the Company’s ownership of Antero Midstream Partners common units represented approximately a 53 % limited partner interest in Antero Midstream Partners, and Antero Resources consolidated Antero Midstream Partners’ financial position and results of operations into its 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 Antero Resources 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, Antero Resources’ 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 nine months ended September 30, 2020, the Company 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—Transactions); 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 nine months ended September 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 nine months ended September 30, 2020 represents the interest in Martica owned by third parties. See Note 4—Transactions for more information on the sale of this noncontrolling interest. Martica is a discrete entity and the assets and credits 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 was $7 million and $18 million, respectively. As of September 30, 2020, the book overdraft included within accounts payable and revenue distributions payable was $8 million and $13 million, respectively.
Oil and Gas Properties	(f) Oil and Gas Properties The Company accounts for its natural gas, NGLs, and oil exploration and development activities under the successful efforts method of accounting. Under the successful efforts method, the costs incurred to acquire, drill, and complete productive wells, development wells, and undeveloped leases are capitalized. Oil and gas lease acquisition costs are also capitalized. Exploration costs, including personnel and other internal costs, geological and geophysical expenses, delay rentals for gas and oil leases, and costs associated with unsuccessful lease acquisitions are charged to expense as incurred. Exploratory drilling costs are initially capitalized, but charged to expense if the Company determines that the well does not contain reserves in commercially viable quantities. The Company reviews exploration costs related to wells-in- progress at the end of each quarter and makes a determination, based on known results of drilling at that time, whether the costs should continue to be capitalized pending further well testing and results, or charged to expense. The Company incurred no such charges to expense during the three and nine months ended September 30, 2020. During the nine months ended September 30, 2019, the Company recorded an impairment charge of $26 million for design and initial costs related to pads that are no longer planned to be placed into service. 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, future plans to develop acreage, 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 September 30, 2019 and 2020, impairment of unproved properties was $160 million and $29 million, respectively. For the nine months ended September 30, 2019 and 2020, impairment of unproved properties was $347 million and $156 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 expense 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. Because estimated undiscounted future net cash flows based on future commodity prices as of September 30, 2019 exceeded the carrying amount of our proved properties in the Marcellus Shale as of September 30, 2019, management did not further evaluate our Marcellus proved properties for impairment. However, the carrying amount of the Company’s proved properties in the Utica Shale exceeded the estimated undiscounted future cash flows based on future commodity prices as of September 30, 2019. The Company estimated the fair value of the Utica Shale assets based on sales of other properties, estimates of proved reserves, estimated future commodity prices and future production estimates. As a result, the Company recorded an impairment expense of $881 million related to proved properties in the Utica Shale during the three months ended September 30, 2019. The Company did not incur any impairment expenses related to proved properties in the Utica Shale for the nine months ended September 30, 2020. The Company did not record any impairment expenses associated with its proved properties in the Marcellus Shale during the nine months ended September 30, 2019 and 2020.
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.
Deferred Revenue	(i) Deferred Revenue Under the terms of the VPP (as defined below in Note 4—Transactions), the Company is obligated to deliver certain natural gas volumes from specified wells to an overriding royalty interest owner over the term of the arrangement. The Company has accounted for the VPP as a conveyance under Accounting Standard Codifications (“ASC”) Topic 932, Extractive Industries—Oil and Gas (“ASC 932”), which requires the net proceeds to be recognized as deferred revenue due to the Company’s future performance obligations. Deferred revenue is recognized as volumes are delivered using the units-of-production method over the term of the VPP in Amortization of deferred revenue on the Company’s unaudited condensed consolidated statements of operations. See Note 4—Transactions for further discussion of the VPP transaction.
Natural Gas, NGLs, and Oil Revenues	(j) Natural Gas, NGLs, and Oil Revenues The Company’s 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 the Company’s natural gas sales contracts, it delivers natural gas to the purchaser at an agreed upon delivery point. Natural gas is transported from the 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 the Company’s natural gas. The Company maintains control of the natural gas during gathering, compression, processing, and transportation. The Company’s sales contracts provide that it receives a specific index price adjusted for pricing differentials. The Company transfers control of the product at the delivery point and recognizes 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 the Company directly or by the processor under processing contracts. For NGLs sold by the Company directly, the sales contracts primarily provide that the Company delivers the product to the purchaser at an agreed upon delivery point and that it receives a specific index price adjusted for pricing differentials. The Company transfers control of the product to the purchaser at the delivery point and recognizes 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, the Company’s processing contracts provide that the Company transfers control to the processor at the tailgate of the processing plant and it recognizes revenue based on the price received from the processor. Under the Company’s oil sales contracts, Antero Resources’ generally sells oil to purchasers and collects a contractually agreed upon index price, net of pricing differentials. The Company recognizes revenue based on the contract price when it transfers 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	(k) 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. The Company retains control of the purchased natural gas and NGLs prior to delivery to the purchaser. The Company has concluded that it is the principal in these arrangements and therefore, the Company recognizes 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 the Company’s produced natural gas and NGLs. The Company satisfies performance obligations to the purchaser by transferring control of the product at the delivery point and recognizes 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	(l) 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	(m) 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	(n ) 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 and shares of common stock issuable upon conversion of the 2026 Convertible Notes (as defined below in Note 8—Long-Term Debt), calculated using the treasury stock method. The Company includes restricted stock unit (“RSUs”) awards, performance share unit (“PSUs”) awards and stock options 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 Nine months ended September 30, September 30, 2019 2020 2019 2020 Basic weighted average number of shares outstanding 307,781 268,511 308,509 273,689 Add: Dilutive effect of RSUs — — 27 — Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of PSUs — — 110 — Diluted weighted average number of shares outstanding 307,781 268,511 308,646 273,689 Weighted average number of outstanding securities excluded from calculation of diluted earnings per common share (1) RSUs 2,356 10,129 2,008 7,397 Outstanding stock options 514 432 541 432 PSUs 2,676 1,988 2,141 1,808 2026 Convertible Notes (2) — — — — (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. (2) In August 2020 and September 2020, the Company issued $287.5 million in aggregate principal amount of 4.25% convertible senior notes due September 1, 20206 (the “2026 Convertible Notes”). The Company intends to settle the principal amount of the 2026 Convertible Notes in cash upon conversion. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the 2026 Convertible Notes is considered in the diluted earnings per share computation under the treasury stock method. As of September 30, 2020, the conversion value did not exceed the principal amount of the notes, and accordingly, there was no impact to diluted earnings per share for the periods presented. See Note 8—Long-Term Debt.
Treasury Share Retirement	(o) 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.
Recently Issued Accounting Standards	(p) Recently Issued Accounting Standard On August 5, 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Debt with Conversion and Other Options , that require separate accounting for conversion features that is currently being applied to the 2026 Convertible Notes, and instead, allows the debt instrument and conversion features to be accounted for as a single debt instrument. The new standard becomes effective for the Company on January 1, 2022, and early adoption is permitted. The Company Upon adoption of this new standard, the Company expects to reclassify $62 million, net of deferred income taxes and equity issuance costs, to long-term debt and deferred income tax liability, as applicable, from stockholders’ equity. Additionally, annual interest expense for the 2026 Convertible Notes will be based on an effective interest rate of million under the if-converted method. T he Company does not believe that adoption of the standard will impact its operational strategies or growth prospects .

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 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 Nine months ended September 30, September 30, 2019 2020 2019 2020 Basic weighted average number of shares outstanding 307,781 268,511 308,509 273,689 Add: Dilutive effect of RSUs — — 27 — Add: Dilutive effect of outstanding stock options — — — — Add: Dilutive effect of PSUs — — 110 — Diluted weighted average number of shares outstanding 307,781 268,511 308,646 273,689 Weighted average number of outstanding securities excluded from calculation of diluted earnings per common share (1) RSUs 2,356 10,129 2,008 7,397 Outstanding stock options 514 432 541 432 PSUs 2,676 1,988 2,141 1,808 2026 Convertible Notes (2) — — — — (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. (2) In August 2020 and September 2020, the Company issued $287.5 million in aggregate principal amount of 4.25% convertible senior notes due September 1, 20206 (the “2026 Convertible Notes”). The Company intends to settle the principal amount of the 2026 Convertible Notes in cash upon conversion. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the 2026 Convertible Notes is considered in the diluted earnings per share computation under the treasury stock method. As of September 30, 2020, the conversion value did not exceed the principal amount of the notes, and accordingly, there was no impact to diluted earnings per share for the periods presented. See Note 8—Long-Term Debt.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 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 Nine months ended September 30, September 30, (in thousands) 2019 2020 2019 2020 Reportable segment Revenues from contracts with customers: Natural gas sales $ 524,448 436,304 $ 1,735,086 1,214,801 Exploration and production Natural gas liquids sales (ethane) 26,488 32,444 92,378 85,884 Exploration and production Natural gas liquids sales (C3+ NGLs) 258,470 294,982 810,228 711,412 Exploration and production Oil sales 40,561 34,265 137,675 78,233 Exploration and production Gathering and compression (1) — — 3,972 — Equity method investment in Antero Midstream Corporation Water handling and treatment (1) — — 507 — Equity method investment in Antero Midstream Corporation Marketing 46,645 91,497 200,911 201,855 Marketing Total revenue from contracts with customers 896,612 889,492 2,980,757 2,292,185 Income (loss) from derivatives and other sources 222,269 (508,901) 475,195 (109,578) Total revenue and other $ 1,118,881 380,591 $ 3,455,952 2,182,607 (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)	9 Months Ended
Equity Method Investments (Tables)	Sep. 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 nine months ended September 30, 2020 (in thousands): Antero Midstream Corporation Balance as of December 31, 2019 $ 1,055,177 Equity in loss of unconsolidated affiliates (83,408) Distributions/dividends from unconsolidated affiliates (128,267) Impairment (1) (610,632) Elimination of intercompany profit 40,056 Balance as of September 30, 2020 $ 272,926 (1) Other-than-temporary impairment of investment in Antero Midstream Corporation.
Schedule of summarized financial information of Antero Midstream Corporation	Balance Sheet December 31, September 30, (in thousands) 2019 2020 Current assets $ 108,558 108,008 Noncurrent assets 6,174,320 5,565,496 Total assets $ 6,282,878 5,673,504 Current liabilities $ 242,084 61,259 Noncurrent liabilities 2,897,380 3,126,754 Stockholders' equity 3,143,414 2,485,491 Total liabilities and stockholders' equity $ 6,282,878 5,673,504 Statement of Operations For the period March 13, 2019 through Nine months ended (in thousands) September 30, 2019 September 30, 2020 Revenues $ 553,521 696,859 Operating expenses 745,940 929,480 Loss from operations $ (192,419) (232,621) Loss attributable to the equity method investment $ (197,006) (198,985)

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
Accrued Liabilities (Tables)	Sep. 30, 2020
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities as of December 31, 2019 and September 30, 2020 consisted of the following items (in thousands): December 31, September 30, 2019 2020 Capital expenditures $ 105,706 46,122 Gathering, compression, processing, and transportation expenses 134,153 158,043 Marketing expenses 52,612 55,777 Interest expense, net 30,834 40,355 Accrued taxes 39,332 20,403 Other 38,213 23,906 Total accrued liabilities $ 400,850 344,606

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2020
Schedule of long-term debt	Long-term debt as of December 31, 2019 and September 30, 2020 consisted of the following items (in thousands): December 31, September 30, 2019 2020 Credit Facility (a) $ 552,000 827,000 5.375% senior notes due 2021 (b) 952,500 315,279 5.125% senior notes due 2022 (c) 923,041 660,516 5.625% senior notes due 2023 (d) 750,000 579,232 5.00% senior notes due 2025 (e) 600,000 590,000 4.25% convertible senior notes due 2026 (f) — 287,500 Total principal 3,777,541 3,259,527 Unamortized premium (discount), net 791 (83,658) Unamortized debt issuance costs (19,464) (17,644) Long-term debt $ 3,758,868 3,158,225
4.25% convertible senior notes due 2026
Schedule of long-term debt	The 2026 Convertible Notes consist of the following as of September 30, 2020 (in thousands): Liability component: Principal $ 287,500 Less: unamortized note discount (84,084) Less: unamortized debt issuance costs (6,209) Net carrying value $ 197,207 Equity component (1) $ 84,972 (1) Recorded in additional paid-in capital, net of $3 million of issuance costs and $20 million of deferred taxes.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
Asset Retirement Obligations (Tables)	Sep. 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 nine months ended September 30, 2020 (in thousands): Asset retirement obligations—December 31, 2019 $ 54,845 Obligations incurred 1,529 Accretion expense 3,330 Settlement of obligations (229) Asset retirement obligations—September 30, 2020 $ 59,475

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
Equity-Based Compensation (Tables)	Sep. 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 nine months ended September 30, 2019 and 2020 (in thousands): Three months ended September 30, Nine months ended September 30, 2019 2020 2019 2020 RSU awards $ 2,229 3,063 $ 8,829 9,021 Stock options — — 389 — PSU awards 399 1,827 6,027 5,380 Antero Midstream Partners phantom unit awards (1) 867 459 2,942 1,881 Equity awards issued to directors 380 350 1,140 719 Total expense $ 3,875 5,699 $ 19,327 17,001 (1) Antero Resources recognized compensation expense for equity awards granted under both the 2013 Plan and the AMP Plan because the awards under the AMP Plan are accounted for as if they are distributed by Antero Midstream Partners to Antero Resources. Antero Resources allocates a portion of equity-based compensation expense related to grants prior to the Transactions to Antero Midstream 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 Midstream 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 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 7,108,061 $ 2.39 Vested (1,045,771) $ 12.50 Forfeited (119,679) $ 12.46 Total awarded and unvested—September 30, 2020 8,313,186 $ 4.08 $ 22,862
Summary of stock option activity	Weighted Weighted average average remaining Intrinsic Stock exercise contractual value options price life (in thousands) Outstanding as of December 31, 2019 467,633 $ 50.64 5.05 $ — Granted — $ — Exercised — $ — Forfeited — $ — Expired (35,172) $ 50.56 Outstanding at September 30, 2020 432,461 $ 50.64 4.31 $ — Vested or expected to vest as of September 30, 2020 432,461 $ 50.64 4.31 $ — Exercisable as of September 30, 2020 432,461 $ 50.64 4.31 $ —
Summary of Performance Stock Unit activity	Weighted Number of average grant units date fair value Total awarded and unvested—December 31, 2019 2,537,283 $ 16.74 Granted 469,000 $ 2.97 Forfeited (29,316) $ 12.21 Cancelled (unearned) (458,485) $ 25.32 Total awarded and unvested—September 30, 2020 2,518,482 $ 11.94
Schedule of weighted average fair value assumptions used for PSUs granted	Nine months ended September 30, 2019 2020 Dividend yield — % — % Volatility 36 % 80 % Risk-free interest rate 2.35 % 0.17 % Weighted average fair value of awards granted—Return on Capital Employed $ 9.26 $ — Weighted average fair value of awards granted—Absolute TSR $ — $ 2.63 Weighted average fair value of awards granted—Relative TSR $ — $ 3.30
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 (335,051) $ 11.67 Forfeited (22,577) $ 14.09 Total awarded and unvested—September 30, 2020 300,129 $ 5.19 $ 1,558

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
Derivative Instruments (Tables)	Sep. 30, 2020
Schedule of outstanding commodity derivatives	Natural Gas Weighted Natural gas Liquids Oil average index MMBtu/day Bbls/day Bbls/day price Three months ending December 31, 2020: NYMEX ($/MMBtu) 2,067,500 — — $ 2.84 ARA Propane ($/Gal) — 10,315 — 0.65 OPIS Ethane Mt Belv ($/Gal) — 24,500 — 0.20 NYMEX-WTI ($/Bbl) — — 26,000 55.63 Total 2,067,500 34,815 26,000 Three months ending March 31, 2021 OPIS Ethane Mt Belv ($/Gal) 19,000 $ 0.20 Year ending December 31, 2021: NYMEX ($/MMBtu) 2,160,000 — $ 2.77 NYMEX-WTI ($/Bbl) — 3,000 55.16 Total 2,160,000 3,000 Year ending December 31, 2022: NYMEX ($/MMBtu) 905,897 $ 2.43 Year ending December 31, 2023: NYMEX ($/MMBtu) 43,000 $ 2.37
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 Three months ending December 31, 2020: NYMEX to TCO ($/MMBtu) 15,123 $ 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 Year ending December 31, 2021: Mont Belvieu Natural Gasoline to NYMEX-WTI 14,150 78 %
Summary of the fair values of derivative instruments, which are not designated as hedges for accounting purposes	December 31, 2019 September 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 (1) Derivative instruments $ 422,849 Derivative instruments $ 75,776 Embedded derivatives—current Derivative instruments — Derivative instruments 7,281 Commodity derivatives—noncurrent (1) Derivative instruments 333,174 Derivative instruments 6,998 Embedded derivatives—noncurrent Derivative instruments — Derivative instruments 37,072 Total asset derivatives 756,023 127,127 Liability derivatives not designated as hedges for accounting purposes: Commodity derivatives—current Derivative instruments 6,721 Derivative instruments 107,933 Commodity derivatives—noncurrent Derivative instruments 3,519 Derivative instruments 149,222 Total liability derivatives 10,240 257,155 Net derivatives assets (liabilities) $ 745,783 $ (130,028) (1) Approximately $16 million of commodity derivative liabilities, including $8 million of current commodity derivatives and $8 million of noncurrent commodity derivatives, 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	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 September 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 $ 212,335 (129,561) 82,774 Embedded derivative assets $ — — — $ 44,353 — 44,353 Commodity derivative liabilities $ (137,034) 126,794 (10,240) $ (386,716) 129,561 (257,155)
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 nine months ended September 30, 2019 and 2020 (in thousands): Statement of Three months ended Nine months ended operations September 30, September 30, location 2019 2020 2019 2020 Commodity derivative fair value gains (losses) Revenue $ 220,788 (558,979) $ 471,847 (161,161) Embedded derivative fair value gains (losses) Revenue $ — 44,228 $ — 44,228
VIE, Martica
Schedule of outstanding commodity derivatives	Natural Gas Weighted Natural gas Liquids Oil average index MMBtu/day Bbls/day Bbls/day price Three months ending December 31, 2020: NYMEX ($/MMBtu) 46,495 — — $ 2.06 OPIS Propane Mt Belv Non-TET — 982 — 0.49 OPIS Natural Gasoline Mt Belv Non-TET — 298 — 0.67 OPIS Ethane Mt Belv ($/Gal) — 633 — 0.20 NYMEX-WTI ($/Bbl) — — 128 37.78 Total 46,495 1,913 128 Year ending December 31, 2021: NYMEX ($/MMBtu) 46,536 — — $ 2.62 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) — — 117 39.94 Total 46,536 2,201 117 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 ($/Gal) — 521 — 0.16 NYMEX-WTI ($/Bbl) — — 17 43.85 Total — 1,015 17 Year ending December 31, 2022: NYMEX ($/MMBtu) 38,356 — — $ 2.39 OPIS Natural Gasoline Mt Belv Non-TET — 254 — 0.83 NYMEX-WTI ($/Bbl) — — 66 40.92 Total 38,356 254 66 Year ending December 31, 2023: NYMEX ($/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)	9 Months Ended
Leases (Tables)	Sep. 30, 2020
Leases
Summary of supplemental balance sheet information related to leases	The Company’s lease assets as of December 31, 2019 and September 30, 2020 consisted of the following items (in thousands): December 31, 2019 September 30, 2020 Operating Leases Finance Leases (2) Operating Leases Finance Leases (2) Right-of-use Assets: Processing plants $ 1,460,770 — $ 1,324,022 — Drilling rigs and completion services 71,662 — 19,480 — Gas gathering lines and compressor stations (1) 1,308,428 — 1,274,755 — Office space 40,491 — 37,784 — Vehicles 4,983 2,328 3,367 1,494 Other office and field equipment 166 170 780 — Total right-of-use assets $ 2,886,500 2,498 $ 2,660,188 1,494 (1) Gas gathering lines and compressor stations leases includes $1.1 billion related to Antero Midstream Corporation as of December 31, 2019 and September 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 September 30, 2020, respectively. The Company’s lease liabilities as of September 30, 2020 consisted of the following items (in thousands): December 31, 2019 September 30, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Location on the balance sheet: Short-term lease liabilities $ 304,397 923 $ 250,594 974 Long-term lease liabilities 2,582,103 1,575 2,409,594 520 Total lease liabilities $ 2,886,500 2,498 $ 2,660,188 1,494
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 nine months ended September 30, 2020 (in thousands): Three months ended Nine months ended September 30, September 30, Statement of Operations Location 2019 2020 2019 2020 Gathering, compression, processing, and transportation $ 237,618 409,006 $ 644,007 1,112,502 General and administrative 2,859 2,969 8,395 8,639 Contract termination and rig stacking — 546 10,692 6,387 Total lease expense $ 240,477 412,521 $ 663,094 1,127,528
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 nine months ended September 30, 2019 (in thousands): Three months ended Nine months ended September 30, 2019 September 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 $ 234,399 — $ 591,963 — Investing cash out flows related to operating leases 47,417 — 146,315 — Financing cash out flows related to financing leases — 303 — 1,967 $ 281,816 303 $ 738,278 1,967 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 nine months ended September 30, 2020 (in thousands): Three months ended Nine months ended September 30, 2020 September 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 $ 485,692 — $ 1,147,489 — Investing cash out flows related to operating leases 24,950 — 88,229 — Financing cash out flows related to financing leases — 287 — 1,004 $ 510,642 287 $ 1,235,718 1,004 Noncash activities: Right of use assets obtained in exchange for operating lease liabilities $ 64,586 — $ 178,348 — 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 September 30, 2020 (in thousands): (in thousands) Operating Leases Financing Leases Total Remainder of 2020 $ 156,878 317 157,195 2021 590,519 844 591,363 2022 578,305 321 578,626 2023 575,228 26 575,254 2024 566,460 — 566,460 2025 493,783 — 493,783 Thereafter 1,558,470 — 1,558,470 Total lease payments 4,519,643 1,508 4,521,151 Less: imputed interest (1,859,455) (14) (1,859,469) Total $ 2,660,188 1,494 2,661,682
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 September 30, 2020 (in thousands): (in thousands) Operating Leases Financing Leases Total Remainder of 2020 $ 156,878 317 157,195 2021 590,519 844 591,363 2022 578,305 321 578,626 2023 575,228 26 575,254 2024 566,460 — 566,460 2025 493,783 — 493,783 Thereafter 1,558,470 — 1,558,470 Total lease payments 4,519,643 1,508 4,521,151 Less: imputed interest (1,859,455) (14) (1,859,469) Total $ 2,660,188 1,494 2,661,682
Summary of weighted-average remaining lease term and discount rate	September 30, 2020 Operating Leases Finance Leases Weighted-average remaining lease term: 8.2 years 1.6 years Weighted-average discount rate: 13.8 % 6.2 %

Commitments (Tables)

Commitments (Tables)	9 Months Ended
Commitments (Tables)	Sep. 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 September 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 $ 278,430 14,089 1,527 66,340 90,855 451,241 2021 1,076,424 55,780 2,859 247,159 344,204 1,726,426 2022 1,033,787 52,712 — 267,094 311,532 1,665,125 2023 1,061,265 58,565 — 300,989 274,265 1,695,084 2024 1,021,107 58,687 — 334,693 231,767 1,646,254 2025 981,271 47,385 — 306,918 186,865 1,522,439 Thereafter 6,941,177 105,977 — 1,138,489 419,981 8,605,624 Total $ 12,393,461 393,195 4,386 2,661,682 1,859,469 17,312,193

Contract Termination and Rig _2

Contract Termination and Rig Stacking (Tables)	9 Months Ended
Contract Termination and Rig Stacking (Tables)	Sep. 30, 2020
Contract Termination and Rig Stacking
Schedule of costs recorded on contract termination and rig stacking	Three months ended September 30, Nine months ended September 30, 2019 2020 2019 2020 Contract termination and rig stacking $ 62 1,246 $ 14,026 12,317

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 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 September 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 September 30, 2019: Sales and revenues: Third-party $ 1,070,755 46,645 — — 1,117,400 Intersegment 1,481 — 243,795 (243,795) 1,481 Total $ 1,072,236 46,645 243,795 (243,795) 1,118,881 Operating expenses: Lease operating $ 35,928 — 49,050 (49,050) 35,928 Gathering, compression, processing, and transportation 603,860 — 13,091 (13,091) 603,860 Impairment of oil and gas properties 1,041,469 — — — 1,041,469 Impairment of midstream assets — — 465,278 (457,478) 7,800 Depletion, depreciation, and amortization 241,503 — 24,460 (24,460) 241,503 General and administrative 35,923 — 30,595 (30,595) 35,923 Other 30,060 108,216 3,210 (3,210) 138,276 Total 1,988,743 108,216 585,684 (577,884) 2,104,759 Operating income (loss) $ (916,507) (61,571) (341,889) 334,089 (985,878) Equity in earnings (loss) of unconsolidated affiliates $ (117,859) — 18,478 (18,478) (117,859) Investments in unconsolidated affiliates $ 1,819,323 — 672,310 (672,310) 1,819,323 Segment assets $ 16,094,927 25,361 6,445,504 (6,445,504) 16,120,288 Capital expenditures for segment assets $ 292,176 — 120,875 (120,875) 292,176 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Three months ended September 30, 2020: Sales and revenues: Third-party $ 288,419 91,497 — — 379,916 Intersegment 675 — 233,415 (233,415) 675 Total $ 289,094 91,497 233,415 (233,415) 380,591 Operating expenses: Lease operating $ 21,450 — — — 21,450 Gathering, compression, processing, and transportation 656,615 — 38,052 (38,052) 656,615 Impairment of oil and gas properties 29,392 — — — 29,392 Depletion, depreciation, and amortization 238,418 — 26,801 (26,801) 238,418 General and administrative 31,640 — 13,232 (13,232) 31,640 Other 28,605 128,580 3,513 (3,513) 157,185 Total 1,006,120 128,580 81,598 (81,598) 1,134,700 Operating income (loss) $ (717,026) (37,083) 151,817 (151,817) (754,109) Equity in earnings of unconsolidated affiliates $ 24,419 — 23,173 (23,173) 24,419 Investments in unconsolidated affiliates $ 272,926 — — — 272,926 Segment assets $ 13,349,739 — 5,673,504 (5,673,504) 13,349,739 Capital expenditures for segment assets $ 151,269 — 41,851 (41,851) 151,269 The operating results and assets of the Company’s reportable segments were as follows for the nine months ended September 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 Nine months ended September 30, 2019: Sales and revenues: Third-party $ 3,247,214 200,911 50 — 3,448,175 Intersegment 4,999 — 553,471 (550,693) 7,777 Total $ 3,252,213 200,911 553,521 (550,693) 3,455,952 Operating expenses: Lease operating $ 119,754 — 111,427 (112,664) 118,517 Gathering, compression, processing, and transportation 1,705,709 — 28,324 (138,810) 1,595,223 Impairment of oil and gas properties 1,253,712 — — — 1,253,712 Impairment of midstream assets — — 472,854 (458,072) 14,782 Depletion, depreciation, and amortization 702,299 — 68,557 (46,850) 724,006 General and administrative 128,213 — 85,026 (66,732) 146,507 Other 112,952 408,839 8,005 (7,002) 522,794 Total 4,022,639 408,839 774,193 (830,130) 4,375,541 Operating income (loss) $ (770,426) (207,928) (220,672) 279,437 (919,589) Equity in earnings (loss) of unconsolidated affiliates $ (102,457) — 34,981 (22,717) (90,193) Investments in unconsolidated affiliates $ 1,819,323 — 672,310 (672,310) 1,819,323 Segment assets $ 16,094,927 25,361 6,445,504 (6,445,504) 16,120,288 Capital expenditures for segment assets $ 1,053,210 — 262,065 (208,913) 1,106,362 Equity Method Elimination of Investment in intersegment Exploration Antero transactions and and Midstream unconsolidated Consolidated production Marketing Corporation affiliates total Nine months ended September 30, 2020: Sales and revenues: Third-party $ 1,978,572 201,855 — — 2,180,427 Intersegment 2,180 — 696,859 (696,859) 2,180 Total $ 1,980,752 201,855 696,859 (696,859) 2,182,607 Operating expenses: Lease operating $ 71,836 — — — 71,836 Gathering, compression, processing, and transportation 1,877,084 — 128,847 (128,847) 1,877,084 Impairment of oil and gas properties 155,962 — — — 155,962 Impairment of midstream assets — — 665,491 (665,491) — Depletion, depreciation, and amortization 652,130 — 81,889 (81,889) 652,130 General and administrative 101,264 — 39,191 (39,191) 101,264 Other 88,023 334,906 14,062 (14,062) 422,929 Total 2,946,299 334,906 929,480 (929,480) 3,281,205 Operating income (loss) $ (965,547) (133,051) (232,621) 232,621 (1,098,598) Equity in earnings (loss) of unconsolidated affiliates $ (83,408) — 63,197 (63,197) (83,408) Investments in unconsolidated affiliates $ 272,926 — — — 272,926 Segment assets $ 13,349,739 — 5,673,504 (5,673,504) 13,349,739 Capital expenditures for segment assets $ 726,402 — 165,265 (165,265) 726,402

Subsidiary Guarantors (Tables)

Subsidiary Guarantors (Tables)	9 Months Ended
Subsidiary Guarantors (Tables)	Sep. 30, 2020
Subsidiary Guarantors
Schedule of condensed consolidating balance sheets	Parent Guarantor (Antero) Subsidiaries December 31, September 30, December 31, September 30, (in thousands) 2019 2020 2019 2020 Accounts receivable, non-guarantor subsidiaries $ — 51,000 $ — — Accounts receivable, related parties 125,000 — 299,450 398,158 Other current assets 797,885 446,889 — 35,028 Total current assets 922,885 497,889 299,450 433,186 Noncurrent assets 14,274,684 11,813,110 812,129 202,452 Total assets $ 15,197,569 12,310,999 $ 1,111,579 635,638 Accounts payable, non-guarantor subsidiaries $ — — $ — — Accounts payable, related parties 397,333 514,705 — 35,028 Other current liabilities 942,256 945,647 — — Total current liabilities 1,339,589 1,460,352 — 35,028 Noncurrent liabilities 7,186,687 6,322,233 — — Total liabilities $ 8,526,276 7,782,585 — 35,028 Noncontrolling interests $ — 315,754 — —
Schedule of condensed consolidating statement of operations	Parent Guarantor (Antero) Subsidiaries Nine months ended Nine months ended September 30, September 30, (in thousands) 2019 2020 2019 2020 Revenues $ 3,453,124 2,158,743 — 93,318 Operating expenses 4,439,278 2,789,119 — 560,102 Income (loss) from operations (986,154) (630,376) — (466,784) Net income and comprehensive income including noncontrolling interests 10,932 (844,755) 131,135 (510,969) Net income and comprehensive income attributable to Antero Resources Corporation $ 10,932 (826,758) 131,135 (510,969)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 12, 2019	Sep. 30, 2020	Dec. 31, 2019
Basis of Presentation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Accounts Payable
Basis of Presentation
Bank Overdrafts		$ 8	$ 7
Revenue distributions payable
Basis of Presentation
Bank Overdrafts		$ 13	$ 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property and Equipment
Depreciation expense	$ 238,418	$ 241,503	$ 652,130	$ 724,006
Oil and Gas Properties
Impairment of oil and gas properties	29,392	1,041,469	155,962	1,253,712
Impairment of unproved oil and gas properties	29,000	$ 160,000	156,000	$ 347,000
Utica Shale
Oil and Gas Properties
Impairment of oil and gas properties	881,000
Oil and gas property wells
Oil and Gas Properties
Exploration	$ 0		0
Impairment of oil and gas properties			$ 26,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - EPS and New Accounting Principle (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Aug. 31, 2020	Aug. 21, 2020	Aug. 05, 2020	Dec. 31, 2019
Earnings per share
Basic weighted average number of shares outstanding	268,511	307,781	273,689	308,509
Diluted weighted average number of shares outstanding	268,511	307,781	273,689	308,646
Long-term debt, gross	$ 3,259,527		$ 3,259,527					$ 3,777,541
Interest rate (as a percent)						4.25%
4.25% convertible senior notes due 2026
Earnings per share
Long-term debt, gross	$ 287,500		$ 287,500		$ 287,500
Interest rate (as a percent)	4.25%		4.25%		4.25%	4.25%
Effective interest rate						10.80%
Accounting Standards Update 2020-06 \| Adjustment Effect
Earnings per share
Diluted weighted average number of shares outstanding	0		66,000
Noncurrent liabilities							$ 62,000
Effective interest rate	4.80%		4.80%
Interest rate during the period	11.70%		11.70%
RSUs
Earnings per share
Add: Dilutive effect of non-vested restricted stock units				27
Weighted Average Anti-dilutive Awards	10,129	2,356	7,397	2,008
Stock options
Earnings per share
Weighted Average Anti-dilutive Awards	432	514	432	541
PSUs
Earnings per share
Add: Dilutive effect of non-vested restricted stock units				110
Weighted Average Anti-dilutive Awards	1,988	2,676	1,808	2,141

Deconsolidation of Antero Mid_2

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

Transactions (Details)

Transactions (Details) ft in Thousands, $ in Thousands	Aug. 10, 2020USD ($)	Jul. 01, 2020MMBTU	Jun. 15, 2020USD ($)ft	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)
Transactions
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%
Proceeds from sale of interest in VPP properties	$ 215,000				$ 215,833
Sixth Street
Transactions
Cash contribution			$ 300,000
Amount of cash distribution paid in fourth quarter of 2020				$ 51,000
Additional contribution			$ 102,000
Internal rate of return threshold			13.00%
Cash on cash return threshold			150.00%
JPM -VEC
Transactions
Overriding royalty interest , production volume, threshold one (in MMBtu) \| MMBTU		136,589,000
VPP agreement term for overriding royalty interest (in years)		7 years

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue
Revenue	$ 889,492	$ 896,612	$ 2,292,185	$ 2,980,757
Revenue from derivatives and other sources	(508,901)	222,269	(109,578)	475,195
Total revenue	380,591	1,118,881	2,182,607	3,455,952
Natural gas sales
Disaggregation of Revenue
Revenue	436,304	524,448	1,214,801	1,735,086
Oil sales
Disaggregation of Revenue
Revenue	34,265	40,561	78,233	137,675
Gathering and compression
Disaggregation of Revenue
Revenue				3,972
Water handling and treatment
Disaggregation of Revenue
Revenue				507
Marketing
Disaggregation of Revenue
Revenue	91,497	46,645	201,855	200,911
Exploration and production \| Natural gas sales
Disaggregation of Revenue
Revenue	436,304	524,448	1,214,801	1,735,086
Exploration and production \| Natural gas liquids sales (ethane)
Disaggregation of Revenue
Revenue	32,444	26,488	85,884	92,378
Exploration and production \| Natural gas liquids sales (C3+ NGLs)
Disaggregation of Revenue
Revenue	294,982	258,470	711,412	810,228
Exploration and production \| Oil sales
Disaggregation of Revenue
Revenue	34,265	40,561	78,233	137,675
Marketing \| Marketing
Disaggregation of Revenue
Revenue	$ 91,497	$ 46,645	$ 201,855	$ 200,911

Revenue - Transaction Price All

Revenue - Transaction Price Allocation and Contract Balances (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Revenue
Original expected duration	true
Receivables from contracts with customers	$ 339	$ 318

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended						4 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Mar. 12, 2019	Dec. 31, 2018
Investments in unconsolidated affiliates
Equity in earnings (loss) of unconsolidated affiliates	$ 24,419			$ (117,859)				$ (83,408)	$ (90,193)
Distributions/dividends from unconsolidated affiliates								(128,267)	(109,241)
Impairment								(610,632)
Balance Sheet
Current assets	521,782							521,782		$ 922,885
Total assets	13,349,739			16,120,288				13,349,739	16,120,288	15,197,569
Current liabilities	1,035,375							1,035,375		1,040,139
Total equity	5,983,881	$ 6,432,979	$ 6,592,540	7,446,698	$ 8,339,700	$ 8,292,798	$ 8,339,700	5,983,881	7,446,698	6,970,743		$ 8,487,477
Total liabilities and equity	13,349,739							13,349,739		15,197,569
Sales and revenues	380,591			1,118,881				2,182,607	3,455,952
Operating expenses	1,134,700			2,104,759				3,281,205	4,375,541
Loss from operations	(754,109)			(985,878)				(1,098,598)	(919,589)
Net income (loss) including noncontrolling interests	$ (553,846)	$ (463,068)	(338,810)	$ (878,864)	$ 42,168	$ 1,025,756		$ (1,355,724)	$ 189,060
Antero Midstream Corporation
Equity Method Investments
Ownership percentage	29.20%							29.20%
Antero Midstream Corporation
Equity Method Investments
Ownership percentage											31.00%
Equity Method Investment, Nonconsolidated Investee or Group of Investees \| Antero Midstream Corporation
Investments in unconsolidated affiliates
Balance at beginning of period			$ 1,055,177					$ 1,055,177
Equity in earnings (loss) of unconsolidated affiliates								(83,408)
Distributions/dividends from unconsolidated affiliates								(128,267)
Impairment								(610,632)
Elimination of intercompany profit								40,056
Balance at end of period	$ 272,926							272,926		1,055,177
Balance Sheet
Current assets	108,008							108,008		108,558
Noncurrent assets	5,565,496							5,565,496		6,174,320
Total assets	5,673,504							5,673,504		6,282,878
Current liabilities	61,259							61,259		242,084
Noncurrent liabilities	3,126,754							3,126,754		2,897,380
Total equity	2,485,491							2,485,491		3,143,414
Total liabilities and equity	$ 5,673,504							5,673,504		$ 6,282,878
Sales and revenues							553,521	696,859
Operating expenses							745,940	929,480
Loss from operations							(192,419)	(232,621)
Net income (loss) including noncontrolling interests							$ (197,006)	$ (198,985)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accrued Liabilities
Capital expenditures	$ 46,122	$ 105,706
Gathering, compression, processing, and transportation expenses	158,043	134,153
Marketing expenses	55,777	52,612
Interest expense, net	40,355	30,834
Accrued taxes	20,403	39,332
Other	23,906	38,213
Total accrued liabilities	$ 344,606	$ 400,850

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands	Aug. 21, 2020USD ($)Dshares	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 02, 2020USD ($)	Aug. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 21, 2016USD ($)	Mar. 17, 2015USD ($)	Sep. 18, 2014USD ($)	May 06, 2014USD ($)	Nov. 05, 2013USD ($)
Long- term Debt
Long-term debt, gross		$ 3,259,527	$ 3,259,527				$ 3,777,541
Less: unamortized note discount		(83,658)	(83,658)				791
Less: unamortized debt issuance costs		(17,644)	(17,644)				(19,464)
Long-term debt		3,158,225	3,158,225				3,758,868
Interest rate (as a percent)	4.25%
Issuance of convertible notes			287,500
Payments of deferred financing costs			8,907	$ 8,259
Amount of debt repurchased		$ 461,000	$ 1,100
Weighted average percentage discount on repurchases of debt		13.00%	17.00%
Gain on extinguishment of debt repurchased		$ 55,633	$ 175,365
Tender Offer
Long- term Debt
Amount of debt repurchased		$ 367,000
Weighted average percentage discount on repurchases of debt		10.00%
Credit Facility
Long- term Debt
Long-term debt, gross		$ 827,000	827,000				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		$ 827,000	$ 827,000				$ 552,000
Weighted average interest rate (as a percent)		3.28%	3.28%				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		$ 315,279	$ 315,279				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		$ 660,516	$ 660,516				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		$ 579,232	$ 579,232				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%
4.25% convertible senior notes due 2026
Long- term Debt
Long-term debt, gross		$ 287,500	$ 287,500			$ 287,500
Less: unamortized note discount	$ 85,000	(84,084)	(84,084)
Less: unamortized debt issuance costs		(6,209)	(6,209)
Long-term debt		$ 197,207	$ 197,207
Interest rate (as a percent)	4.25%	4.25%	4.25%			4.25%
Issuance of convertible notes	$ 278,600
Payments of deferred financing costs	$ 8,900
Equity component		$ 84,972	$ 84,972
Conversion rate in shares of Antero Resources' common stock per $1,000 principal amount \| shares	230.2026
Effective interest rate	10.80%
Fair value of convertible notes	$ 203,000
Debt issuance cost		3,000	3,000
Deferred taxes		20,000	$ 20,000
Interest expenses		$ 2,300
Senior notes issued	$ 250,000				$ 37,500
4.25% convertible senior notes due 2026 \| Convertible debt threshold minimum percentage
Long- term Debt
Stock price trigger	98.00%
Trading days \| D	5
Consecutive trading days \| D	10
4.25% convertible senior notes due 2026 \| Convertible debt threshold maximum percentage
Long- term Debt
Stock price trigger	130.00%
Trading days \| D	20
Consecutive trading days \| D	30

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Asset Retirement Obligations
Asset retirement obligations - beginning of period			$ 54,845
Obligations incurred			1,529
Accretion expense	$ 1,115	$ 927	3,330	$ 2,821
Settlement of obligations			(229)
Asset retirement obligations - end of period	$ 59,475		$ 59,475

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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	$ 5,699	$ 3,875	$ 17,001	$ 19,327
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	7,149,371		7,149,371
Midstream Plan
Stock-based compensation expense
Number of stock-based compensation awards authorized	10,000,000		10,000,000
RSUs
Stock-based compensation expense
Equity based compensation expense recognized	$ 3,063	2,229	$ 9,021	8,829
Stock options
Stock-based compensation expense
Equity based compensation expense recognized				389
PSUs
Stock-based compensation expense
Equity based compensation expense recognized	1,827	399	$ 5,380	6,027
Granted (in shares)			469,000
Antero Midstream Partners Phantom Unit Awards
Stock-based compensation expense
Equity based compensation expense recognized	459	867	$ 1,881	2,942
Equity awards issued to directors
Stock-based compensation expense
Equity based compensation expense recognized	$ 350	$ 380	$ 719	$ 1,140
Antero Midstream Corporation \| Midstream Plan \| Common Stock
Stock-based compensation expense
Conversion rate of units converted into restricted stock			1
Antero Midstream Corporation \| RSUs
Stock-based compensation expense
Conversion rate of units converted into restricted stock			1.8926

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock and RSU Awards (Details) - RSUs $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 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	7,108,061
Vested (in shares) \| shares	(1,045,771)
Forfeited (in shares) \| shares	(119,679)
Total awarded and unvested at the end of the period (in shares) \| shares	8,313,186
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	12.50
Forfeited (in dollars per share) \| $ / shares	12.46
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 4.08
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 \| $	22,862
Additional equity compensation to be recognized over the remaining period \| $	$ 26,000
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 3 months 18 days

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Details) - Stock options - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Stock options
Outstanding at the beginning of the period (in shares)	467,633
Options expired (in shares)	(35,172)
Outstanding at the end of the period (in shares)	432,461	467,633
Vested or expected to vest (in shares)	432,461
Exercisable (in shares)	432,461
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 50.64
Options expired (in dollars per share)	50.56
Outstanding at the end of the period (in dollars per share)	50.64	$ 50.64
Vested or expected to vest (in dollars per share)	50.64
Exercisable (in dollars per share)	$ 50.64
Weighted average remaining contractual life
Outstanding	4 years 3 months 21 days	5 years 18 days
Vested or expected to vest	4 years 3 months 21 days
Exercisable	4 years 3 months 21 days
Additional disclosures
Unamortized equity based compensation expense	$ 0

Equity-Based Compensation - PSU

Equity-Based Compensation - PSU awards (Details) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended
	Jul. 31, 2020item	Sep. 30, 2020USD ($)tranche$ / sharesshares	Sep. 30, 2019$ / shares	Jul. 01, 2020USD ($)	Jan. 31, 2020USD ($)
PSUs
Number of performance period \| item	3
Number of cumulative performance periods \| item	1
Vesting period	3 years
Amortization period of PSU expense	3 years
Number of units
Total awarded and unvested at the beginning of the period (in shares) \| shares		2,537,283
Granted (in shares) \| shares		469,000
Forfeited (in shares) \| shares		(29,316)
Cancelled (unearned) \| shares		(458,485)
Total awarded and unvested at the end of the period (in shares) \| shares		2,518,482
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per share)		$ 16.74
Granted (in dollars per share)		2.97
Forfeited (in dollars per share)		12.21
Cancelled (unearned) (in dollars per share)		25.32
Total awarded and unvested at the end of the period (in dollars per share)		$ 11.94
Additional disclosures
Additional equity compensation to be recognized over the remaining period \| $		$ 10
Weighted average period for recognizing unrecognized stock-based compensation expense		1 year 4 months 24 days
Weighted-average assumptions used to calculate fair value of performance share units granted
Volatility (as a percent)		80.00%	36.00%
Risk-free interest rate (as a percent)		0.17%	2.35%
Weighted average fair value of awards granted (in dollars per share)		$ 2.97
Weighted average fair value of awards granted-ROCE			$ 9.26
Weighted average fair value of awards granted-Absolute TSR		2.63
Weighted average fair value of awards granted-Absolute Relative TSR		$ 3.30
PSUs \| Minimum
Number of PSUs that may vest, as a percent	0.00%
PSUs \| Maximum
Number of PSUs that may vest, as a percent	150.00%
PSUs \| One Year Period
Service period	1 year
PSUs \| Three Year Period
Service period	3 years
Cash Awards
Vesting period	4 years
Additional disclosures
Cash awards granted \| $				$ 2.6	$ 3.3
Number of tranches \| tranche		3
Cash awards accrued in other liabilities \| $		$ 2.2

Equity-Based Compensation - Pha

Equity-Based Compensation - Phantom Unit Awards (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Antero Midstream Partners Phantom Unit Awards
Aggregate intrinsic value
Additional equity compensation to be recognized over the remaining period \| $	$ 3,000
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 2 months 12 days
RSUs
Number of units
Total awarded and unvested at the beginning of the period (in shares) \| shares	2,370,575
Granted (in shares) \| shares	7,108,061
Vested (in shares) \| shares	(1,045,771)
Forfeited (in shares) \| shares	(119,679)
Total awarded and unvested at the end of the period (in shares) \| shares	8,313,186
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	12.50
Forfeited (in dollars per share) \| $ / shares	12.46
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 4.08
Aggregate intrinsic value
Additional equity compensation to be recognized over the remaining period \| $	$ 26,000
Weighted average period for recognizing unrecognized stock-based compensation expense	2 years 3 months 18 days
Antero Midstream Corporation \| RSUs
Number of units
Total awarded and unvested at the beginning of the period (in shares) \| shares	657,757
Vested (in shares) \| shares	(335,051)
Forfeited (in shares) \| shares	(22,577)
Total awarded and unvested at the end of the period (in shares) \| shares	300,129
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	11.67
Forfeited (in dollars per share) \| $ / shares	14.09
Total awarded and unvested at the end of the period (in dollars per share) \| $ / shares	$ 5.19
Aggregate intrinsic value
Outstanding at the beginning of the period \| $	$ 4,992
Outstanding at the end of the period \| $	$ 1,558

Financial Instruments (Details)

Financial Instruments (Details) - Recurring - Level 2 market data - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Financial Instruments
Fair value of senior notes	$ 1,600	$ 2,800
2026 Convertible Notes
Financial Instruments
Fair value of senior notes	$ 235

Derivative Instruments - Commod

Derivative Instruments - Commodity derivatives (Details)	9 Months Ended
Derivative Instruments - Commodity derivatives (Details)	Sep. 30, 2020MMBTU / d$ / gal$ / MMBTU$ / bblgalbbl
Swaps \| NYMEX \| Three months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.84
Swaps \| NYMEX \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.06
Swaps \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.77
Swaps \| NYMEX \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	2.62
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	2.37
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 \| Three 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	2.43
Swaps \| OPIS Propane Mt Belv Non-TET \| Three 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 \| Three 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 \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	0.83
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 \| Three months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / gal	0.20
Swaps \| OPIS Ethane Mt Belv \| Three 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 \| Three months ending December 31, 2020
Derivative Instruments
Weighted average index price \| $ / MMBTU	55.63
Swaps \| NYMEX-WTI \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	37.78
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	39.94
Swaps \| NYMEX-WTI \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / bbl	40.92
Swaps \| NYMEX-WTI \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Weighted average index price \| $ / MMBTU	43.85
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,067,500
Swaps \| Natural gas \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	46,495
Swaps \| Natural gas \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,160,000
Swaps \| Natural gas \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	46,536
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,067,500
Swaps \| Natural gas \| NYMEX \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	46,495
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,160,000
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount (MMBtu/day)	46,536
Swaps \| Natural gas \| NYMEX \| Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	905,897
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)	43,000
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	34,815
Swaps \| Natural gas liquids \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	1,913
Swaps \| Natural gas liquids \| Year ending December 31, 2021 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	2,201
Swaps \| Natural gas liquids \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	254
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	10,315
Swaps \| Natural gas liquids \| OPIS Propane Mt Belv Non-TET \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	982
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 \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	298
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 \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	254
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	24,500
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	633
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	19,000
Swaps \| Natural gas liquids \| OPIS Ethane Mt Belv \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| bbl	521
Swaps \| Oil \| Three months ending December 31, 2020
Derivative Instruments
Notional amount \| gal	26,000
Swaps \| Oil \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	128
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	117
Swaps \| Oil \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	66
Swaps \| Oil \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	17
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount \| gal	26,000
Swaps \| Oil \| NYMEX-WTI \| Three months ending December 31, 2020 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	128
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	117
Swaps \| Oil \| NYMEX-WTI \| Year ending December 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	66
Swaps \| Oil \| NYMEX-WTI \| Three months ending March 31, 2022 \| VIE, Martica
Derivative Instruments
Notional amount \| gal	17
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)	9 Months Ended
Derivative Instruments (Details)	Sep. 30, 2020MMBTU / d$ / gal$ / MMBTU$ / bblbblgal
NYMEX to TCO \| Three 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 \| Year ending December 31, 2021
Derivative Instruments
Weighted average payout ratio	78
Put option \| Year ending December 31, 2026
Derivative Instruments
Notional amount (MMBtu/day)	120,667,000
Weighted average strike price \| $ / MMBTU	2.60
Swaps \| NYMEX \| Three months ending December 31, 2020
Derivative Instruments
Weighted average hedged differential \| $ / MMBTU	2.84
Swaps \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Weighted average hedged differential \| $ / MMBTU	2.77
Swaps \| NYMEX \| Year ending December 31, 2023
Derivative Instruments
Weighted average hedged differential \| $ / gal	2.37
Swaps \| NYMEX-WTI \| Three 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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,067,500
Natural gas \| Swaps \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,160,000
Natural gas \| Swaps \| NYMEX to TCO \| Three months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	15,123
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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount (MMBtu/day)	2,067,500
Natural gas \| Swaps \| NYMEX \| Year ending December 31, 2021
Derivative Instruments
Notional amount (MMBtu/day)	2,160,000
Natural gas \| Swaps \| NYMEX \| Year ending December 31, 2022
Derivative Instruments
Notional amount (MMBtu/day)	905,897
Natural gas \| Swaps \| NYMEX \| Year ending December 31, 2023
Derivative Instruments
Notional amount (MMBtu/day)	43,000
Oil \| Swaps \| Three 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 \| Three 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 \| Three months ending December 31, 2020
Derivative Instruments
Notional amount \| bbl	34,815
Natural gas liquids \| Swaps \| Mont Belvieu Natural Gasoline to NYMEX-WTI \| Year ending December 31, 2021
Derivative Instruments
Notional amount \| bbl	14,150

Derivative Instruments - Fair v

Derivative Instruments - Fair value (Details) $ in Thousands	Sep. 30, 2020USD ($)item	Dec. 31, 2019USD ($)item
Fair value of derivative instruments
Current portion of fair value of derivative assets	$ 83,057	$ 422,849
Noncurrent portion of fair value of derivative assets	44,070	333,174
Current portion of fair value of derivative liabilities	107,933	6,721
Noncurrent portion of fair value of derivative liabilities	149,222	3,519
Commodity derivative
Fair value of derivative instruments
Total asset derivatives	82,774	756,023
Total liability derivatives	257,155	10,240
Embedded derivatives
Fair value of derivative instruments
Total asset derivatives	44,353
Derivatives not designated as hedges for accounting purposes
Fair value of derivative instruments
Total asset derivatives	127,127	756,023
Total liability derivatives	257,155	10,240
Net derivatives assets (liabilities)	(130,028)	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	75,776	422,849
Noncurrent portion of fair value of derivative assets	6,998	333,174
Current portion of fair value of derivative liabilities	107,933	6,721
Noncurrent portion of fair value of derivative liabilities	149,222	$ 3,519
Derivatives not designated as hedges for accounting purposes \| Commodity derivative \| VIE, Martica
Fair value of derivative instruments
Current portion of fair value of derivative liabilities	8,000
Noncurrent portion of fair value of derivative liabilities	8,000
Total liability derivatives	16,000
Derivatives not designated as hedges for accounting purposes \| Embedded derivatives
Fair value of derivative instruments
Current portion of fair value of derivative assets	7,281
Noncurrent portion of fair value of derivative assets	$ 37,072
Derivatives designated as hedges for accounting purposes
Fair value of derivative instruments
Number of derivative instruments held designated as hedges \| item	0	0

Derivative Instruments - Assets

Derivative Instruments - Assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Commodity derivative
Commodity derivative assets
Gross amounts on balance sheet	$ 212,335	$ 882,817
Gross amounts offset on balance sheet	(129,561)	(126,794)
Total asset derivatives	82,774	756,023
Commodity derivative liabilities
Gross amounts on balance sheet	(386,716)	(137,034)
Gross amounts offset on balance sheet	129,561	126,794
Total liability derivatives	(257,155)	$ (10,240)
Embedded derivatives
Commodity derivative assets
Gross amounts on balance sheet	44,353
Total asset derivatives	$ 44,353

Derivative Instruments - Fair_2

Derivative Instruments - Fair value gains (losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Summary of realized and unrealized gains (losses) on derivative instruments
Derivative fair value (gains) losses	$ (514,751)	$ 220,788	$ (116,933)	$ 471,847
Commodity derivative \| Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Derivative fair value (gains) losses	(558,979)	$ 220,788	(161,161)	$ 471,847
Embedded derivatives \| Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Derivative fair value (gains) losses	$ 44,228		$ 44,228

Leases (Details)

Leases (Details)	9 Months Ended
Leases (Details)	Sep. 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	Sep. 30, 2020	Dec. 31, 2019
Lease Assets
Operating leases right-of-use assets	$ 2,660,188	$ 2,886,500
Finance leases, right of use assets	1,494	2,498
Finance leases, accumulated amortization	3,000	9,000
Short-term lease liabilities, operating leases	250,594	304,397
Long-term lease liabilities, operating leases	2,409,594	2,582,103
Total lease liabilities, operating leases	2,660,188	2,886,500
Short-term lease liabilities, finance leases	974	923
Long-term lease liabilities, finance leases	520	1,575
Total	1,494	2,498
Vehicles
Lease Assets
Operating leases right-of-use assets	3,367	4,983
Finance leases, right of use assets	1,494	2,328
Other office and field equipment
Lease Assets
Operating leases right-of-use assets	780	166
Finance leases, right of use assets		170
Processing plants
Lease Assets
Operating leases right-of-use assets	1,324,022	1,460,770
Drilling and completion rigs
Lease Assets
Operating leases right-of-use assets	19,480	71,662
Gas gathering lines and compressor stations
Lease Assets
Operating leases right-of-use assets	1,274,755	1,308,428
Gas gathering lines and compressor stations \| Antero Midstream Corporation
Lease Assets
Finance leases, accumulated amortization	1,100,000	1,100,000
Office space
Lease Assets
Operating leases right-of-use assets	$ 37,784	$ 40,491

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases
Total lease expense	$ 412,521	$ 240,477	$ 1,127,528	$ 663,094
Capitalized operating leases	32,000	53,000	91,000	161,000
Short-term lease costs	16,000	41,000	108,000	115,000
Cash paid for amounts included in the measurement of lease liabilities: Operating cash out flows related to operating leases	485,692	234,399	1,147,489	591,963
Cash paid for amounts included in the measurement of lease liabilities: Investing cash out flows related to operating leases	24,950	47,417	88,229	146,315
Cash paid for amounts included in the measurement of lease liabilities for operating leases	510,642	281,816	1,235,718	738,278
Cash paid for amounts included in the measurement of lease liabilities: Financing cash out flows related to financing leases	287	303	1,004	1,967
Cash paid for amounts included in the measurement of lease liabilities for finance leases	287	303	1,004	1,967
Leased assets obtained in exchange for new operating lease liabilities	64,586		178,348	3,345,549
Gathering, compression, water handling and treatment
Leases
Total lease expense	409,006	237,618	1,112,502	644,007
General and administrative
Leases
Total lease expense	2,969	2,859	8,639	8,395
Contract termination and rig stacking
Leases
Total lease expense	546		6,387	10,692
Maximum
Leases
Finance leases, interest expense	1,000	1,000	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	Sep. 30, 2020	Dec. 31, 2019
Future minimum payments for operating lease liabilities
Remainder of 2020	$ 156,878
2021	590,519
2022	578,305
2023	575,228
2024	566,460
2025	493,783
Thereafter	1,558,470
Total lease payments	4,519,643
Less: imputed interest	(1,859,455)
Total lease liabilities, operating leases	2,660,188	$ 2,886,500
Future minimum payments for financing lease liabilities
Remainder of 2020	317
2021	844
2022	321
2023	26
Total lease payments	1,508
Less: imputed interest	(14)
Total	1,494	$ 2,498
Future minimum payments for total lease liabilities
Remainder of 2020	157,195
2021	591,363
2022	578,626
2023	575,254
2024	566,460
2025	493,783
Thereafter	1,558,470
Total lease payments	4,521,151
Less: imputed interest	(1,859,469)
Total	$ 2,661,682

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Sep. 30, 2020
Leases
Weighted-average remaining lease term: Operating lease	8 years 2 months 12 days
Weighted-average discount rate: Operating lease	13.80%
Weighted-average remaining lease term: Finance lease	1 year 7 months 6 days
Weighted-average discount rate: Finance lease	6.20%

Leases - Related party disclosu

Leases - Related party disclosure (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Leases
Amount included within accounts payable, related parties	$ 81,519				$ 81,519		$ 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	$ 12,000	$ 12,000		$ 36,000
Gathering and compression fees paid	181,000			$ 171,000	503,000	$ 486,000
Amount included within accounts payable, related parties	$ 56,000				$ 56,000		$ 57,000

Commitments (Details)

Commitments (Details) $ in Thousands	Sep. 30, 2020USD ($)
Future minimum payments
Remainder of 2020	$ 451,241
2021	1,726,426
2022	1,665,125
2023	1,695,084
2024	1,646,254
2025	1,522,439
Thereafter	8,605,624
Total	17,312,193
Firm transportation
Future minimum payments
Remainder of 2020	278,430
2021	1,076,424
2022	1,033,787
2023	1,061,265
2024	1,021,107
2025	981,271
Thereafter	6,941,177
Total	12,393,461
Gas processing, gathering and compression
Future minimum payments
Remainder of 2020	14,089
2021	55,780
2022	52,712
2023	58,565
2024	58,687
2025	47,385
Thereafter	105,977
Total	393,195
Land payment obligations
Future minimum payments
Remainder of 2020	1,527
2021	2,859
Total	4,386
Operating and Financing Leases
Future minimum payments
Remainder of 2020	66,340
2021	247,159
2022	267,094
2023	300,989
2024	334,693
2025	306,918
Thereafter	1,138,489
Total	2,661,682
Imputed Interest for Leases
Future minimum payments
Remainder of 2020	90,855
2021	344,204
2022	311,532
2023	274,265
2024	231,767
2025	186,865
Thereafter	419,981
Total	$ 1,859,469

Contingencies (Details)

Contingencies (Details)	Jun. 20, 2019USD ($)	Feb. 01, 2018MMBTU / d	Jan. 31, 2018MMBTU / d	Jan. 31, 2018MMBTU / d	Nov. 30, 2017MMBTU / d	Jul. 31, 2017MMBTU / d	Sep. 30, 2020USD ($)	Jun. 10, 2019USD ($)	Nov. 30, 2018MMBTU / d	Mar. 31, 2017USD ($)
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Contract Termination and Rig Stacking
Contract termination and rig stacking	$ 1,246	$ 62	$ 12,317	$ 14,026

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Sales and revenues:
Sales and revenues	$ 379,916	$ 1,117,400	$ 2,180,427	$ 3,448,175
Sales and revenues	675	1,481	2,180	7,777
Sales and revenues	380,591	1,118,881	2,182,607	3,455,952
Operating expenses:
Impairment of oil and gas properties	29,392	1,041,469	155,962	1,253,712
Impairment of midstream assets		7,800		14,782
Depletion, depreciation, and amortization	238,418	241,503	652,130	724,006
General and administrative	31,640	35,923	101,264	146,507
Other	157,185	138,276	422,929	522,794
Total operating expenses	1,134,700	2,104,759	3,281,205	4,375,541
Operating income (loss)	(754,109)	(985,878)	(1,098,598)	(919,589)
Equity in earnings (loss) of unconsolidated affiliates	24,419	(117,859)	(83,408)	(90,193)
Investment in unconsolidated affiliate	272,926	1,819,323	272,926	1,819,323	$ 1,055,177
Segment assets	13,349,739	16,120,288	13,349,739	16,120,288	$ 15,197,569
Capital expenditures for segment assets	151,269	292,176	726,402	1,106,362
Lease operating
Operating expenses:
Cost of goods and services sold	21,450	35,928	71,836	118,517
Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	656,615	603,860	1,877,084	1,595,223
Operating segments \| Exploration and production
Sales and revenues:
Sales and revenues	288,419	1,070,755	1,978,572	3,247,214
Sales and revenues	675	1,481	2,180	4,999
Sales and revenues	289,094	1,072,236	1,980,752
Operating expenses:
Impairment of oil and gas properties	29,392	1,041,469	155,962	1,253,712
Depletion, depreciation, and amortization	238,418	241,503	652,130	702,299
General and administrative	31,640	35,923	101,264	128,213
Other	28,605	30,060	88,023	112,952
Total operating expenses	1,006,120	1,988,743	2,946,299	4,022,639
Operating income (loss)	(717,026)	(916,507)	(965,547)	(770,426)
Equity in earnings (loss) of unconsolidated affiliates	24,419	(117,859)	(83,408)	(102,457)
Investment in unconsolidated affiliate	272,926	1,819,323	272,926	1,819,323
Segment assets	13,349,739	16,094,927	13,349,739	16,094,927
Capital expenditures for segment assets	151,269	292,176	726,402	1,053,210
Operating segments \| Exploration and production \| Lease operating
Operating expenses:
Cost of goods and services sold	21,450	35,928	71,836	119,754
Operating segments \| Exploration and production \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	656,615	603,860	1,877,084	1,705,709
Operating segments \| Marketing
Sales and revenues:
Sales and revenues	91,497	46,645	201,855	200,911
Sales and revenues	91,497	46,645	201,855
Operating expenses:
Other	128,580	108,216	334,906	408,839
Total operating expenses	128,580	108,216	334,906	408,839
Operating income (loss)	(37,083)	(61,571)	(133,051)	(207,928)
Segment assets		25,361		25,361
Operating segments \| Antero Midstream Corporation
Sales and revenues:
Sales and revenues				50
Sales and revenues	233,415	243,795	696,859	553,471
Sales and revenues	233,415	243,795	696,859	553,521
Operating expenses:
Impairment of midstream assets		465,278	665,491	472,854
Depletion, depreciation, and amortization	26,801	24,460	81,889	68,557
General and administrative	13,232	30,595	39,191	85,026
Other	3,513	3,210	14,062	8,005
Total operating expenses	81,598	585,684	929,480	774,193
Operating income (loss)	151,817	(341,889)	(232,621)	(220,672)
Equity in earnings (loss) of unconsolidated affiliates	23,173	18,478	63,197	34,981
Investment in unconsolidated affiliate		672,310		672,310
Segment assets	5,673,504	6,445,504	5,673,504	6,445,504
Capital expenditures for segment assets	41,851	120,875	165,265	262,065
Operating segments \| Antero Midstream Corporation \| Lease operating
Operating expenses:
Cost of goods and services sold		49,050		111,427
Operating segments \| Antero Midstream Corporation \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	38,052	13,091	128,847	28,324
Elimination of intersegment transaction
Sales and revenues:
Sales and revenues	(233,415)	(243,795)	(696,859)	(550,693)
Sales and revenues	(233,415)	(243,795)	(696,859)	(550,693)
Operating expenses:
Impairment of midstream assets		(457,478)	(665,491)	(458,072)
Depletion, depreciation, and amortization	(26,801)	(24,460)	(81,889)	(46,850)
General and administrative	(13,232)	(30,595)	(39,191)	(66,732)
Other	(3,513)	(3,210)	(14,062)	(7,002)
Total operating expenses	(81,598)	(577,884)	(929,480)	(830,130)
Operating income (loss)	(151,817)	334,089	232,621	279,437
Equity in earnings (loss) of unconsolidated affiliates	(23,173)	(18,478)	(63,197)	(22,717)
Investment in unconsolidated affiliate		(672,310)		(672,310)
Segment assets	(5,673,504)	(6,445,504)	(5,673,504)	(6,445,504)
Capital expenditures for segment assets	(41,851)	(120,875)	(165,265)	(208,913)
Elimination of intersegment transaction \| Lease operating
Operating expenses:
Cost of goods and services sold		(49,050)		(112,664)
Elimination of intersegment transaction \| Gathering, compression, water handling and treatment
Operating expenses:
Cost of goods and services sold	$ (38,052)	$ (13,091)	$ (128,847)	(138,810)
Elimination of intersegment transaction \| Exploration and production
Sales and revenues:
Sales and revenues				3,252,213
Elimination of intersegment transaction \| Marketing
Sales and revenues:
Sales and revenues				$ 200,911

Subsidiary Guarantors - Balance

Subsidiary Guarantors - Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Current assets:
Accounts receivable, non-guarantor subsidiaries	$ 88,062	$ 46,419
Accounts receivable, related parties		125,000
Other current assets	11,934	10,731
Total current assets	521,782	922,885
Total assets	13,349,739	15,197,569	$ 16,120,288
Liabilities and Stockholders' Equity
Accounts payable, non-guarantor subsidiaries	55,173	14,498
Accounts payable, related parties	81,519	97,883
Other current liabilities	2,467	6,879
Total current liabilities	1,035,375	1,040,139
Total liabilities	7,365,858	8,226,826
Noncontrolling interests	315,754
Parent (Antero)
Current assets:
Accounts receivable, related parties		125,000
Other current assets	446,889	797,885
Total current assets	497,889	922,885
Noncurrent assets	11,813,110	14,274,684
Total assets	12,310,999	15,197,569
Liabilities and Stockholders' Equity
Accounts payable, related parties	514,705	397,333
Other current liabilities	945,647	942,256
Total current liabilities	1,460,352	1,339,589
Noncurrent liabilities	6,322,233	7,186,687
Total liabilities	7,782,585	8,526,276
Noncontrolling interests	315,754
Guarantor Subsidiaries
Current assets:
Accounts receivable, related parties	398,158	299,450
Other current assets	35,028
Total current assets	433,186	299,450
Noncurrent assets	202,452	812,129
Total assets	635,638	$ 1,111,579
Liabilities and Stockholders' Equity
Accounts payable, related parties	35,028
Total current liabilities	35,028
Total liabilities	35,028
Consolidation, Eliminations, Non-Guarantor Subsidiaries [Member]
Current assets:
Accounts receivable, non-guarantor subsidiaries	$ 51,000

Subsidiary Guarantors - Stateme

Subsidiary Guarantors - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Condensed consolidated statement of operations and comprehensive income (loss)
Revenue	$ 889,492			$ 896,612			$ 2,292,185	$ 2,980,757
Operating expenses	1,134,700			2,104,759			3,281,205	4,375,541
Income (loss) from operations	(754,109)			(985,878)			(1,098,598)	(919,589)
Net income (loss) including noncontrolling interests	(553,846)	$ (463,068)	$ (338,810)	(878,864)	$ 42,168	$ 1,025,756	(1,355,724)	189,060
Net income and comprehensive income attributable to Antero Resources Corporation	$ (535,613)			$ (878,864)			(1,337,727)	$ 142,067
Parent (Antero)
Condensed consolidated statement of operations and comprehensive income (loss)
Revenue							2,158,743		$ 3,453,124
Operating expenses							2,789,119		4,439,278
Income (loss) from operations							(630,376)		(986,154)
Net income (loss) including noncontrolling interests							(844,755)		10,932
Net income and comprehensive income attributable to Antero Resources Corporation							(826,758)		10,932
Guarantor Subsidiaries
Condensed consolidated statement of operations and comprehensive income (loss)
Revenue							93,318
Operating expenses							560,102
Income (loss) from operations							(466,784)
Net income (loss) including noncontrolling interests							(510,969)		131,135
Net income and comprehensive income attributable to Antero Resources Corporation							$ (510,969)		$ 131,135