Antero Resources (AR) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Thousands	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Securities Act 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		311,164
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
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, 2024	Dec. 31, 2023
Current assets:
Accounts receivable	$ 26,156	$ 42,619
Accrued revenue	319,177	400,805
Derivative instruments	4,706	5,175
Prepaid expenses	7,042	12,901
Other current assets	11,565	14,192
Total current assets	368,646	475,692
Oil and gas properties, at cost (successful efforts method):
Unproved properties	960,116	974,642
Proved properties	14,309,543	13,908,804
Gathering systems and facilities	5,802	5,802
Other property and equipment	105,317	98,668
Property and equipment, gross	15,380,778	14,987,916
Less accumulated depletion, depreciation and amortization	(5,447,104)	(5,063,274)
Property and equipment, net	9,933,674	9,924,642
Operating leases right-of-use assets	2,658,288	2,965,880
Derivative instruments	2,507	5,570
Investment in unconsolidated affiliate	226,860	222,255
Other assets	33,643	25,375
Total assets	13,223,618	13,619,414
Current liabilities:
Accrued liabilities	316,059	381,340
Revenue distributions payable	328,353	361,782
Derivative instruments	15,989	15,236
Short-term lease liabilities	505,652	540,060
Deferred revenue, VPP	25,709	27,101
Other current liabilities	2,377	1,295
Total current liabilities	1,323,955	1,452,091
Long-term liabilities:
Long-term debt	1,622,316	1,537,596
Deferred income tax liability, net	831,972	834,268
Derivative instruments	17,780	32,764
Long-term lease liabilities	2,148,608	2,428,450
Deferred revenue, VPP	41,816	60,712
Other liabilities	55,839	59,431
Total liabilities	6,042,286	6,405,312
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value; authorized - 50,000 shares; none issued
Common stock, $0.01 par value; authorized - 1,000,000 shares; 303,544 and 311,031 shares issued and outstanding as of December 31, 2023 and September 30, 2024, respectively	3,110	3,035
Additional paid-in capital	5,894,786	5,846,541
Retained earnings	1,082,066	1,131,828
Total stockholders' equity	6,979,962	6,981,404
Noncontrolling interests	201,370	232,698
Total equity	7,181,332	7,214,102
Total liabilities and equity	13,223,618	13,619,414
Affiliated Entity
Current liabilities:
Accounts payable	92,720	86,284
Nonrelated Party
Current liabilities:
Accounts payable	$ 37,096	$ 38,993

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	50,000	50,000
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	1,000,000
Common stock, shares issued	311,031	303,544
Common stock, shares outstanding	311,031	303,544

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue and other:
Total revenue	$ 1,055,920	$ 1,126,176	$ 3,156,845	$ 3,487,829
Operating expenses:
Lease operating	29,597	33,484	88,477	91,553
Production and ad valorem taxes	47,423	32,258	147,524	117,692
General and administrative (including equity-based compensation expense)	54,627	58,425	169,917	169,587
Depletion, depreciation and amortization	170,197	176,259	513,787	515,247
Impairment of property and equipment	13,455	13,476	18,958	44,746
Accretion of asset retirement obligations	998	889	2,554	2,971
Contract termination, loss contingency and settlements	(1,517)	13,659	3,531	47,650
Gain on sale of assets	(1,297)	(136)	(1,127)	(447)
Other operating expense	342	111	370	336
Total operating expenses	1,061,823	1,070,444	3,159,577	3,189,543
Operating income (loss)	(5,903)	55,732	(2,732)	298,286
Other income (expense):
Interest expense, net	(28,278)	(31,634)	(91,146)	(85,262)
Equity in earnings of unconsolidated affiliate	25,634	22,207	69,862	58,986
Loss on early extinguishment of debt	(528)		(528)
Loss on convertible note inducement				(86)
Total other expense	(3,172)	(9,427)	(21,812)	(26,362)
Income (loss) before income taxes	(9,075)	46,305	(24,544)	271,924
Income tax benefit (expense)	(1,212)	(13,663)	2,089	(46,013)
Net income (loss) and comprehensive income (loss) including noncontrolling interests	(10,287)	32,642	(22,455)	225,911
Less: net income and comprehensive income attributable to noncontrolling interests	10,157	14,834	27,307	77,756
Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation	$ (20,444)	$ 17,808	$ (49,762)	$ 148,155
Net income (loss) per common share-basic (in dollars per share)	$ (0.07)	$ 0.06	$ (0.16)	$ 0.50
Net income (loss) per common share-diluted (in dollars per share)	$ (0.07)	$ 0.06	$ (0.16)	$ 0.48
Weighted average number of common shares outstanding:
Basic (in shares)	311,025	300,141	308,932	298,461
Diluted (in shares)	311,025	311,534	308,932	310,958
Natural gas sales
Revenue and other:
Total revenue	$ 425,802	$ 516,214	$ 1,274,503	$ 1,621,659
Natural gas liquids sales
Revenue and other:
Total revenue	504,200	482,570	1,511,253	1,375,738
Oil sales
Revenue and other:
Total revenue	52,724	62,629	180,899	172,402
Gathering, compression, processing and transportation
Operating expenses:
Cost of goods and services sold	685,183	671,886	2,020,906	1,981,033
Commodity derivative fair value gains
Revenue and other:
Total revenue	18,368	3,448	22,229	137,924
Marketing
Revenue and other:
Total revenue	47,160	53,068	145,098	155,390
Operating expenses:
Cost of goods and services sold	62,144	69,542	192,764	217,078
Amortization of deferred revenue, VPP
Revenue and other:
Total revenue	6,812	7,701	20,289	22,852
Other revenue and income
Revenue and other:
Total revenue	854	546	2,574	1,864
Exploration
Operating expenses:
Cost of goods and services sold	$ 671	$ 591
Exploration and mine expenses
Operating expenses:
Cost of goods and services sold			$ 1,916	$ 2,097

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)
Equity-based compensation expense	$ 16,065	$ 18,458	$ 49,293	$ 44,988

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Noncontrolling Interests	Total
Balances at Dec. 31, 2022	$ 2,974	$ 5,838,848	$ 913,896	$ (1,160)	$ 262,596	$ 7,017,154
Balances (in shares) at Dec. 31, 2022	297,393			(34)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 5	(11,464)				(11,459)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	514
Conversion of 2026 Convertible Notes	$ 40	17,132				17,172
Conversion of 2026 Convertible Notes (in shares)	4,030
Repurchases and retirements of common stock	$ (26)	(51,503)	(24,987)	$ 1,160		(75,356)
Repurchases and retirements of common stock (in shares)	(2,616)			34
Equity-based compensation		13,018				13,018
Distributions to noncontrolling interests					(51,339)	(51,339)
Net income (loss) and comprehensive income (loss)			213,431		47,771	261,202
Balance at Mar. 31, 2023	$ 2,993	5,806,031	1,102,340		259,028	7,170,392
Balance (in shares) at Mar. 31, 2023	299,321
Balances at Dec. 31, 2022	$ 2,974	5,838,848	913,896	$ (1,160)	262,596	7,017,154
Balances (in shares) at Dec. 31, 2022	297,393			(34)
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)						225,911
Balance at Sep. 30, 2023	$ 3,004	5,822,013	1,037,064		236,107	7,098,188
Balance (in shares) at Sep. 30, 2023	300,386
Balances at Mar. 31, 2023	$ 2,993	5,806,031	1,102,340		259,028	7,170,392
Balances (in shares) at Mar. 31, 2023	299,321
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 11	(15,909)				(15,898)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	1,038
Equity-based compensation		13,512				13,512
Distributions to noncontrolling interests					(31,745)	(31,745)
Net income (loss) and comprehensive income (loss)			(83,084)		15,151	(67,933)
Balance at Jun. 30, 2023	$ 3,004	5,803,634	1,019,256		242,434	7,068,328
Balance (in shares) at Jun. 30, 2023	300,359
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes		(86)				(86)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	25
Conversion of 2026 Convertible Notes		7				7
Conversion of 2026 Convertible Notes (in shares)	2
Equity-based compensation		18,458				18,458
Distributions to noncontrolling interests					(21,161)	(21,161)
Net income (loss) and comprehensive income (loss)			17,808		14,834	32,642
Balance at Sep. 30, 2023	$ 3,004	5,822,013	1,037,064		236,107	7,098,188
Balance (in shares) at Sep. 30, 2023	300,386
Balances at Dec. 31, 2023	$ 3,035	5,846,541	1,131,828		232,698	7,214,102
Balances (in shares) at Dec. 31, 2023	303,544
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 6	(9,030)				(9,024)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	552
Conversion of 2026 Convertible Notes	$ 61	25,990				26,051
Conversion of 2026 Convertible Notes (in shares)	6,074
Equity-based compensation		16,077				16,077
Distributions to noncontrolling interests					(23,617)	(23,617)
Net income (loss) and comprehensive income (loss)			36,345		11,942	48,287
Balance at Mar. 31, 2024	$ 3,102	5,879,578	1,168,173		221,023	7,271,876
Balance (in shares) at Mar. 31, 2024	310,170
Balances at Dec. 31, 2023	$ 3,035	5,846,541	1,131,828		232,698	7,214,102
Balances (in shares) at Dec. 31, 2023	303,544
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)						(22,455)
Balance at Sep. 30, 2024	$ 3,110	5,894,786	1,082,066		201,370	7,181,332
Balance (in shares) at Sep. 30, 2024	311,031
Balances at Mar. 31, 2024	$ 3,102	5,879,578	1,168,173		221,023	7,271,876
Balances (in shares) at Mar. 31, 2024	310,170
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	$ 8	(17,339)				(17,331)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	818
Equity-based compensation		17,151				17,151
Distributions to noncontrolling interests					(19,282)	(19,282)
Net income (loss) and comprehensive income (loss)			(65,663)		5,208	(60,455)
Balance at Jun. 30, 2024	$ 3,110	5,879,390	1,102,510		206,949	7,191,959
Balance (in shares) at Jun. 30, 2024	310,988
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes		(669)				(669)
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes (in shares)	43
Equity-based compensation		16,065				16,065
Distributions to noncontrolling interests					(15,736)	(15,736)
Net income (loss) and comprehensive income (loss)			(20,444)		10,157	(10,287)
Balance at Sep. 30, 2024	$ 3,110	$ 5,894,786	$ 1,082,066		$ 201,370	$ 7,181,332
Balance (in shares) at Sep. 30, 2024	311,031

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows provided by (used in) operating activities:
Net income (loss) including noncontrolling interests	$ (22,455)	$ 225,911
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization and accretion	516,341	518,218
Impairments	18,958	44,746
Commodity derivative fair value gains	(22,229)	(137,924)
Gains (losses) on settled commodity derivatives	11,530	(16,511)
Payments for derivative monetizations		(202,339)
Deferred income tax expense (benefit)	(2,295)	45,914
Equity-based compensation expense	49,293	44,988
Equity in earnings of unconsolidated affiliate	(69,862)	(58,986)
Dividends of earnings from unconsolidated affiliate	93,883	93,854
Amortization of deferred revenue	(20,289)	(22,852)
Amortization of debt issuance costs and other	1,900	2,601
Settlement of asset retirement obligations	(3,171)	(633)
Contract termination, loss contingency and settlements	5,143	11,901
Gain on sale of assets	(1,127)	(447)
Loss on early extinguishment of debt	528
Loss on convertible note inducement		86
Changes in current assets and liabilities:
Accounts receivable	16,463	(1,440)
Accrued revenue	81,628	334,294
Prepaid expenses and other current assets	8,486	32,584
Accounts payable including related parties	4,277	12,236
Accrued liabilities	(63,395)	(118,316)
Revenue distributions payable	(33,429)	(129,966)
Other current liabilities	1,108	4,627
Net cash provided by operating activities	571,286	682,546
Cash flows provided by (used in) investing activities:
Additions to unproved properties	(69,033)	(139,121)
Drilling and completion costs	(509,303)	(759,852)
Additions to other property and equipment	(10,128)	(13,073)
Proceeds from asset sales	7,484	447
Change in other assets	(7,271)	(2,538)
Net cash used in investing activities	(588,251)	(914,137)
Cash flows provided by (used in) financing activities:
Repurchases of common stock		(75,356)
Borrowings on Credit Facility	3,331,800	3,503,000
Repayments on Credit Facility	(3,222,300)	(3,063,700)
Payment of debt issuance costs	(6,064)
Convertible note inducement		(86)
Distributions to noncontrolling interests in Martica Holdings LLC	(58,635)	(104,245)
Employee tax withholding for settlement of equity-based compensation awards	(27,024)	(27,443)
Other	(812)	(579)
Net cash provided by financing activities	16,965	231,591
Net increase in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	109,444	100,067
Decrease in accounts payable and accrued liabilities for additions to property and equipment	$ (4,574)	$ (22,300)

Organization

Organization	9 Months Ended
	Sep. 30, 2024
Organization
Organization	(1) Organization Antero Resources Corporation (individually referred to as “Antero” and together with its consolidated subsidiaries “Antero Resources,” or the “Company”) is engaged in the development, production, exploration 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 is located in Denver, Colorado.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
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 SEC applicable to interim financial information and should be read in the context of the Company’s December 31, 2023 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, 2023 consolidated financial statements were included in Antero Resources’ 2023 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, 2023 and September 30, 2024, results of operations for the three and nine months ended September 30, 2023 and 2024 and cash flows for the nine months ended September 30, 2023 and 2024. 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 three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year because of the impact of fluctuations in prices received for natural gas, NGLs and oil, natural production declines, the uncertainty of exploration and development drilling results, fluctuations in the fair value of derivative instruments and other factors. (b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Antero Resources Corporation, its wholly owned subsidiaries and its variable interest entity (“VIE”), Martica Holdings LLC, (“Martica”), for which the Company is the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements. (c) 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 condensed consolidated balance sheets, and classifies the change in accounts payable associated with book overdrafts as an operating activity within its unaudited condensed consolidated statements of cash flows. As of December 31, 2023, the book overdrafts included within accounts payable and revenue distributions payable were million, respectively. As of September 30, 2024, the book overdrafts included within accounts payable and revenue distributions payable were $ (d) Net Income (Loss) Per Common Share Net income (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 common shares outstanding during the period. Net income (loss) per common share—diluted for each period is computed after giving consideration to the potential dilution from (i) outstanding equity-based awards using the treasury stock method and (ii) shares of common stock issuable upon conversion of the 2026 Convertible Notes (as defined below in Note 7—Long-Term Debt) using the if-converted method. The Company includes restricted stock unit (“RSU”) awards, performance share unit (“PSU”) awards and stock options in the calculation of diluted weighted average common 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 common shares outstanding are equal to basic weighted average common shares outstanding because the effects of all equity-based awards and the 2026 Convertible Notes are anti-dilutive. ​ The following is a reconciliation of the Company’s income (loss) attributable to common stockholders for basic and diluted net income (loss) per common share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 Net income (loss) attributable to Antero Resources Corporation—common shareholders ​ $ 17,808 ​ ​ (20,444) ​ ​ 148,155 ​ ​ (49,762) Add: Interest expense for 2026 Convertible Notes ​ ​ 470 ​ ​ — ​ ​ 1,555 ​ ​ — Less: Tax-effect of interest expense for 2026 Convertible Notes ​ ​ (101) ​ ​ — ​ ​ (334) ​ ​ — Net income (loss) attributable to Antero Resources Corporation—common shareholders and assumed conversions ​ $ 18,177 ​ ​ (20,444) ​ ​ 149,376 ​ ​ (49,762) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) per common share—basic ​ $ 0.06 ​ ​ (0.07) ​ ​ 0.50 ​ ​ (0.16) Net income (loss) per common share—diluted ​ $ 0.06 ​ ​ (0.07) ​ ​ 0.48 ​ ​ (0.16) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding—basic ​ ​ 300,141 ​ ​ 311,025 ​ ​ 298,461 ​ ​ 308,932 Weighted average common shares outstanding—diluted ​ ​ 311,534 ​ ​ 311,025 ​ ​ 310,958 ​ ​ 308,932 ​ The following is a reconciliation of the Company’s basic weighted average common shares outstanding to diluted weighted average common shares outstanding during the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2023 2024 2023 2024 Basic weighted average number of common shares outstanding ​ 300,141 ​ 311,025 ​ 298,461 ​ 308,932 Add: Dilutive effect of RSUs ​ 1,213 ​ — ​ 1,419 ​ — Add: Dilutive effect of PSUs ​ 1,105 ​ — ​ 1,080 ​ — Add: Dilutive effect of 2026 Convertible Notes ​ 9,075 ​ — ​ 9,998 ​ — Diluted weighted average number of common shares outstanding ​ 311,534 ​ 311,025 ​ 310,958 ​ 308,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common (1) ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ 1,128 ​ 3,274 ​ 1,267 ​ 3,526 PSUs ​ 100 ​ 1,675 ​ 199 ​ 1,790 Stock options ​ 323 ​ 257 ​ 324 ​ 258 2026 Convertible Notes ​ — ​ — ​ — ​ 1,615 (1) The potential dilutive effects of these securities were excluded from the computation of net income (loss) per common share—diluted because the inclusion of these securities would have been anti-dilutive. (e) Income Taxes The Company recognizes deferred tax assets and liabilities for temporary differences resulting from net operating loss carryforwards for income tax purposes and the differences between the financial statement and tax basis of assets and liabilities. The effect of changes in tax laws or tax rates is recognized during the period such changes are enacted. The effect of tax credits related to historical periods is recognized during the period when such credit is claimed on a filed tax return. The Company commissioned a multi-year research and development (“R&D”) tax credit study related to the Company’s drilling and completion methods that is expected to favorably impact the Company’s effective tax rate and future tax obligations when the results are recorded. The R&D tax study is expected to be finalized and filed on the Company’s federal and state tax returns, as applicable, during the fourth quarter of 2024. (f) Recently Issued Accounting Standards Reportable Segments ​ In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 is intended to improve reportable segment disclosures primarily through enhanced disclosure of reportable segment expenses. This ASU is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is required to be applied retrospectively to all prior periods presented in the financial statements. The Company is evaluating the impact that ASU 2023-07 will have on the financial statements. The Company plans to adopt ASU 2023-07 in the Annual Report on Form 10-K for the year ending December 31, 2024. ​ Income Taxes ​ In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 is intended to improve income tax disclosures primarily through enhanced disclosure of income tax rate reconciliation items, and disaggregation of income (loss) from continuing operations, income tax expense (benefit) and income taxes paid, net disclosures by federal, state and foreign jurisdictions, among others. This ASU is effective for annual reporting periods beginning after December 15, 2024, and early adoption is permitted. ASU 2023-09 should be applied on a prospective basis, although retrospective application is permitted. The Company is evaluating the impact that ASU 2023-09 will have on the financial statements and the transition method it plans to use for adoption. The Company plans to adopt ASU 2023-09 in the Annual Report on Form 10-K for the year ending December 31, 2025.

Transactions

Transactions	9 Months Ended
	Sep. 30, 2024
Transactions
Transactions	(3) Transactions (a) 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 million in cash if certain production thresholds attributable to the ORRIs were achieved in 2020 and 2021. The Company met these production thresholds and received the million of additional contributions from Sixth Street during 2020 and 2021. All cash contributed by Sixth Street at the initial closing and received as part of these additional contributions was distributed to the Company. The ORRIs include an overriding royalty interest of 1.25% of the Company’s working interest in all of its operated proved 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 million lateral feet (net to the Company’s interest) of horizontal wells are subject to the Development Override. As of April 1, 2023, Sixth Street no longer has the right to participate in any new wells, and Martica reconveyed the Development Override to the Company, except for the portion relating to wells turned to sales prior to April 1, 2023. 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) could be re-conveyed to the Company (at the Company’s election) if certain production targets attributable to the ORRIs were achieved through March 31, 2023. Any portion of the Incremental Override that could 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. As of March 31, 2023, Prior to Sixth Street achieving an internal rate of return of 13% and 1.5x cash-on-cash return (the “Hurdle”), Sixth Street will receive all distributions in respect of the Initial PDP Override and the Development Override, and 24% of all distributions in respect of the Incremental Override, and the Company will receive 76% of all distributions in respect of the Incremental Override. Following Sixth Street achieving the Hurdle, the Company will receive (b) Drilling Partnership On February 17, 2021, Antero Resources announced the formation of a drilling partnership with QL Capital Partners (“QL”), an affiliate of Quantum Energy Partners, for the Company’s 2021 through 2024 drilling program. Under the terms of the arrangement, each year in which QL participates represents an annual tranche, and QL will be conveyed a working interest in any wells spud by Antero Resources during such tranche year. For 2021 through 2024, Antero Resources and QL agreed to the estimated internal rate of return (“IRR”) of the Company’s capital budget for each annual tranche, and QL agreed to participate in all annual tranches. Antero Resources develops and manages the drilling program associated with each tranche, including the selection of wells. Additionally, for each annual tranche, Antero Resources and QL will enter into assignments, bills of sale and conveyances pursuant to which QL will be conveyed a proportionate working interest percentage in each well spud in that year, which conveyances will not be subject to any reversion. Under the terms of the arrangement, QL funded development capital of 20%, 15% and 15% for wells spud in 2021, 2022 and 2023, respectively, and will fund 20% of development capital for wells spud in 2024, which funding amounts represent QL’s proportionate working interest in such wells. Additionally, Antero Resources may receive a carry in the form of a one-time payment from QL for each annual tranche if the IRR for such tranche exceeds certain specified returns, which will be determined no earlier than October 31 and no later than December 1 following the end of each tranche year. The Company received a carry of million for each of the 2021 and 2022 tranches during the three months ended December 31, 2022 and 2023. All of the wells spud during each calendar year period will be a separate annual tranche. Capital costs in excess of, and cost savings below, a specified percentage of budgeted amounts for each annual tranche will be for Antero Resources’ account. Subject to the preceding sentence, for any wells included in a tranche, QL is obligated and responsible for its working interest share of costs and liabilities, and is entitled to its working interest share of revenues, associated with such wells for the life of such wells. The Company has accounted for the drilling partnership as a conveyance under FASB Accounting Standards Codification (“ASC”) Topic 932, Extractive Activities—Oil and Gas , and such conveyances are recorded in the unaudited condensed consolidated financial statements as QL obtains its proportionate working interest in each well. ​

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue
Revenue	(4) Revenue (a) Disaggregation of Revenue The table set forth below presents revenue disaggregated by type and reportable segment to which it relates (in thousands). See Note 16—Reportable Segments to the unaudited condensed consolidated financial statements for more information on reportable segments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ ​ September 30, ​ September 30, ​ ​ ​ 2023 2024 ​ 2023 ​ 2024 Reportable Segment Revenues from contracts with customers: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 516,214 ​ ​ 425,802 ​ ​ 1,621,659 ​ ​ 1,274,503 ​ Exploration and production Natural gas liquids sales (ethane) ​ ​ 78,551 ​ ​ 58,483 ​ ​ 200,764 ​ ​ 187,277 ​ Exploration and production Natural gas liquids sales (C3+ NGLs) ​ ​ 404,019 ​ ​ 445,717 ​ ​ 1,174,974 ​ ​ 1,323,976 ​ Exploration and production Oil sales ​ ​ 62,629 ​ ​ 52,724 ​ ​ 172,402 ​ ​ 180,899 ​ Exploration and production Marketing ​ ​ 53,068 ​ ​ 47,160 ​ ​ 155,390 ​ ​ 145,098 ​ Marketing Other revenue ​ ​ — ​ ​ 276 ​ ​ 540 ​ ​ 822 ​ Exploration and production Total revenue from contracts with customers ​ ​ 1,114,481 ​ ​ 1,030,162 ​ ​ 3,325,729 ​ ​ 3,112,575 ​ ​ Income from derivatives, deferred revenue and other sources, net ​ ​ 11,695 ​ ​ 25,758 ​ ​ 162,100 ​ ​ 44,270 ​ ​ Total revenue ​ $ 1,126,176 ​ ​ 1,055,920 ​ ​ 3,487,829 ​ ​ 3,156,845 ​ ​ ​ (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 in FASB ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), 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 in ASC 606, 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 (c) Contract Balances Under the Company’s sales contracts, the Company invoices customers after its 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. As of December 31, 2023 and September 30, 2024, the Company’s receivables from contracts with customers were $ ​

Equity Method Investment

Equity Method Investment	9 Months Ended
	Sep. 30, 2024
Equity Method Investment
Equity Method Investment	(5) Equity Method Investment As of December 31, 2023 and September 30, 2024, Antero owned 29.0% and 28.9%, respectively, of Antero Midstream’s common stock, which is reflected in Antero’s unaudited condensed consolidated financial statements using the equity method of accounting. The following table sets forth a reconciliation of Antero’s investment in unconsolidated affiliate (in thousands): ​ ​ ​ ​ ​ Balance as of December 31, 2023 (1) ​ $ 222,255 ​ Additional investments (2) ​ ​ 1,936 ​ Equity in earnings of unconsolidated affiliate ​ ​ 69,862 ​ Dividends from unconsolidated affiliate ​ ​ (93,883) ​ Elimination of intercompany profit ​ ​ 26,690 ​ Balance as of September 30, 2024 (1) ​ $ 226,860 ​ (1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2023 and September 30, 2024 was $ 1.7 billion and $ 2.1 billion, respectively, based on the quoted market share price of Antero Midstream. (2) During the three months ended September 30, 2024, the Company received 0.1 million additional shares of Antero Midstream common stock as part of a judgment in a legal proceeding with an unaffiliated third-party.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2024
Accrued Liabilities
Accrued Liabilities	(6) Accrued Liabilities Accrued liabilities consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ ​ 2023 2024 ​ Capital expenditures ​ $ 38,848 ​ 32,764 ​ Gathering, compression, processing and transportation expenses ​ ​ 160,758 ​ ​ 156,810 ​ Marketing expenses ​ ​ 36,428 ​ ​ 18,691 ​ Interest expense, net ​ 33,066 ​ 13,046 ​ Production and ad valorem taxes ​ ​ 51,516 ​ ​ 31,719 ​ General and administrative expense ​ ​ 35,641 ​ ​ 33,677 ​ Derivative settlements payable ​ ​ 1,037 ​ ​ 31 ​ Other ​ 24,046 ​ 29,321 ​ Total accrued liabilities ​ $ 381,340 ​ 316,059 ​ ​

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2024
Long-Term Debt
Long-Term Debt	(7) Long-Term Debt Long-term debt consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ ​ 2023 2024 ​ Credit Facility (a) ​ $ 417,200 ​ ​ 526,700 ​ 8.375% senior notes due 2026 (b) ​ ​ 96,870 ​ ​ 96,870 ​ 7.625% senior notes due 2029 (c) ​ ​ 407,115 ​ ​ 407,115 ​ 5.375% senior notes due 2030 (d) ​ ​ 600,000 ​ ​ 600,000 ​ 4.25% convertible senior notes due 2026 (e) ​ ​ 26,386 ​ ​ — ​ Total principal ​ ​ 1,547,571 ​ ​ 1,630,685 ​ Unamortized debt issuance costs ​ ​ (9,975) ​ ​ (8,369) ​ Long-term debt ​ $ 1,537,596 ​ ​ 1,622,316 ​ ​ (a) Credit Facility Antero Resources has a senior revolving credit facility with a consortium of bank lenders. References to the (i) “Secured Credit Facility” (defined below) refer to the credit facility in effect for periods prior to July 30, 2024, (ii) “Unsecured Credit Facility” (defined below) refer to the credit facility in effect on or after July 30, 2024 and (iii) “Credit Facility” refer to the Secured Credit Facility and Unsecured Credit Facility, collectively. Senior Unsecured Revolving Credit Facility On July 30, 2024, Antero Resources entered into an amendment and restatement of its senior revolving credit facility with a consortium of bank lenders (“Unsecured Credit Facility”). Borrowings are unsecured and are not guaranteed by any of Antero Resources’ subsidiaries. As of September 30, 2024, the Unsecured Credit Facility had lender commitments of billion. The Unsecured Credit Facility matures on July 30, 2029 (the “Maturity Date”), provided that Antero Resources may request extensions of the Maturity Date, subject to satisfaction of certain conditions and consent of the extending lenders. Commitments under the Unsecured Credit Facility may be increased by up to The Unsecured Credit Facility contains a financial maintenance covenant with respect to Antero Resources’ total indebtedness to capitalization ratio not to exceed 65% at the end of any fiscal quarter, and certain covenants, including restrictions on its ability to incur liens or debt, subject in each case to certain significant exceptions. Antero Resources was in compliance with the financial covenant under the Unsecured Credit Facility as of September 30, 2024. The Unsecured Credit Facility provides for borrowing at either an Adjusted Term Secured Overnight Financing Rate (“SOFR”), an Adjusted Daily Simple SOFR or an Alternate Base Rate, in each case, plus an Applicable Margin (each as defined in the Unsecured Credit Facility). The Unsecured Credit Facility provides for interest only payments until maturity at which time all outstanding borrowings are due. Interest is payable at a variable rate based on SOFR or the Alternate Base Rate, determined by election at the time of borrowing, plus an Applicable Margin under the Unsecured Credit Facility. The Applicable Margin is determined with reference to Antero Resources’ then-current credit ratings ranging from for SOFR loans. Commitment fees on the unused portion of the Unsecured Credit Facility are due quarterly at rates ranging from The proceeds of the loans made under the Unsecured Credit Facility may be used (i) to pay fees and expenses incurred in connection with the transactions related thereto and the refinancing of the Secured Credit Facility (defined below) and (ii) to finance working capital needs, and for other general corporate purposes, of Antero Resources and its subsidiaries. As of September 30, 2024, Antero Resources had an outstanding balance under the Unsecured Credit Facility of $527 million, with a weighted average interest rate of 6.47%, and outstanding letters of credit of $120 million. Senior Secured Revolving Credit Facility On October 26, 2021, Antero Resources entered into an amended and restated senior secured revolving credit facility (the “Credit Facility”) with a consortium of bank lenders (“Secured Credit Facility”). Borrowings were secured by substantially all of the assets of Antero Resources and certain of its subsidiaries, were subject to borrowing base limitations based on the collateral value of Antero Resources’ assets and were subject to regular semi-annual redeterminations. As of December 31, 2023, the Secured Credit Facility had a borrowing base of billion. The borrowing base was re-affirmed in the semi-annual redetermination in April 2024. The Secured Credit Facility was refinanced in full and terminated upon the closing of the Unsecured Credit Facility on July 30, 2024. The Secured Credit Facility contained requirements with respect to leverage and current ratios, and certain covenants, including restrictions on our ability to incur debt and limitations on our ability to pay dividends unless certain customary conditions are met, in each case, subject to customary carve-outs and exceptions. Antero Resources was in compliance with all of the financial covenants under the Secured Credit Facility as of December 31, 2023. The Secured Credit Facility provided for borrowing at either an Adjusted Term SOFR , an Adjusted Daily Simple SOFR or an Alternate Base Rate, in each case, plus an Applicable Margin (each as defined in the Secured Credit Facility). The Secured Credit Facility provided for interest only payments until maturity at which time all outstanding borrowings would be due. Interest was payable at a variable rate based on SOFR or the Alternate Base Rate, determined by election at the time of borrowing, plus an Applicable Margin under the Secured Credit Facility. The Applicable Margin was determined with reference to Antero Resources’ then-current leverage ratio subject to certain exceptions, which for SOFR during an investment grade period (based on a ratings grid). Commitment fees on the unused portion of the Secured Credit Facility were due quarterly at rates ranging from with respect to the Secured Credit Facility, determined with reference to borrowing base utilization, subject to certain exceptions based on the leverage ratio then in effect. The Secured Credit Facility included fall away covenants, lower interest rates and reduced collateral requirements that Antero Resources could elect if Antero Resources was assigned an Investment Grade Rating (as defined in the Secured Credit Facility). As of December 31, 2023, Antero Resources had an outstanding balance under the Secured Credit Facility of $417 million, with a weighted average interest rate of 7.71%, and outstanding letters of credit of $501 million. (b) 8.375% Senior Notes Due 2026 On January 4, 2021, Antero Resources issued $500 million of 8.375% senior notes due July 15, 2026 (the “2026 Notes”) at par . The Company redeemed or otherwise repurchased million principal amount of the 2026 Notes remained outstanding. The 2026 Notes are unsecured and rank pari passu to Antero Resources’ Unsecured Credit Facility and other outstanding senior notes. As of July 30, 2024, the 2026 Notes are not guaranteed by any of Antero Resources’ subsidiaries. Interest on the 2026 Notes is payable on January 15 and July 15 of each year. Antero Resources may redeem all or part of the 2026 Notes at any time at redemption prices ranging from on or after January 15, 2026. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2026 Notes will have the right to require Antero Resources to repurchase all or a portion of the notes at a price equal to (c) 7.625% Senior Notes Due 2029 On January 26, 2021, Antero Resources issued $700 million of 7.625% senior notes due February 1, 2029 (the “2029 Notes”) at par . The Company redeemed or otherwise repurchased million principal amount of the 2029 Notes remained outstanding. The 2029 Notes are unsecured and rank pari passu to Antero Resources’ Unsecured Credit Facility and other outstanding senior notes. As of July 30, 2024, the 2029 Notes are not guaranteed by any of Antero Resources’ subsidiaries. Interest on the 2029 Notes is payable on February 1 and August 1 of each year. Antero Resources may redeem all or part of the 2029 Notes at any time at redemption prices ranging from on or after February 1, 2027. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2029 Notes will have the right to require Antero Resources to repurchase all or a portion of the notes at a price equal to ​ (d) 5.375% Senior Notes Due 2030 On June 1, 2021, Antero Resources issued $600 million of 5.375% senior notes due March 1, 2030 (the “2030 Notes”) at par . The 2030 Notes are unsecured and rank pari passu to Antero Resources’ Unsecured Credit Facility and other outstanding senior notes. As of July 30, 2024, the 2030 Notes are not guaranteed by any of Antero Resources’ subsidiaries. Interest on the 2030 Notes is payable on March 1 and September 1 of each year. Antero Resources may redeem all or part of the 2030 Notes at any time on or after March 1, 2025 at redemption prices ranging from on or after March 1, 2028. In addition, on or before March 1, 2025, Antero Resources may redeem up to of the principal amount of the 2030 Notes, plus accrued and unpaid interest. At any time prior to March 1, 2025, Antero Resources may also redeem the 2030 Notes, in whole or in part, at a price equal to of the principal amount of the 2030 Notes plus a “make-whole” premium and accrued and unpaid interest. If Antero Resources undergoes a change of control followed by a rating decline, the holders of the 2030 Notes will have the right to require Antero Resources to repurchase all or a portion of the notes at a price equal to ​ (e) 4.25% Convertible Senior Notes Due 2026 On August 21, 2020, Antero Resources issued $250 million in aggregate principal amount of 4.25% convertible senior notes due September 1, 2026 (the “2026 Convertible Notes”). On September 2, 2020, Antero Resources issued an additional million of the 2026 Convertible Notes. Proceeds from the issuance of the 2026 Convertible Notes totaled million. Transaction costs related to the 2026 Convertible Notes were recorded within debt issuance costs on the condensed consolidated balance sheet and were amortized over the term of the 2026 Convertible Notes using the effective interest method. The Company extinguished million principal amount of the 2026 Convertible Notes in 2021. In addition, between 2022 and the first quarter of 2024, 2026 Convertible Notes remained outstanding. See “—Conversions and Inducements,” for more information. The 2026 Convertible Notes bore interest at a fixed rate of 4.25% per annum, payable semi-annually in arrears on March 1 and September 1 of each year, commencing on March 1, 2021. The initial conversion rate was shares of Antero Resources’ common stock per $1,000 principal amount of 2026 Convertible Notes, and such conversion rate was not adjusted during the term for which the 2026 Convertible Notes were outstanding. The noteholders had the right to convert their 2026 Convertible Notes only upon the occurrence of certain events pursuant to the terms and conditions provided in the indenture governing the 2026 Convertible Notes. Upon conversion, Antero Resources could 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. Conversions and Inducements During the nine months ended September 30, 2023, $9 million aggregate principal amount of the 2026 Convertible Notes were converted pursuant to their terms, and an additional $9 million aggregate principal amount of the 2026 Convertible Notes were induced into conversion by the Company. The Company elected to settle these conversions by issuing million. There were On March 11, 2024, the Company called the of the principal amount thereof, plus accrued and unpaid interest. The Company’s election to call the remaining 2026 Convertible Notes allowed holders of the 2026 Convertible Notes to exercise their conversion right through March 28, 2024. During the first quarter of 2024, all remaining million aggregate principal amount of the 2026 Convertible Notes converted pursuant to their terms. The Company elected to settle these conversions by issuing

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2024
Asset Retirement Obligations
Asset Retirement Obligations	(8) Asset Retirement Obligations The following table presents a reconciliation of the Company’s asset retirement obligations (in thousands): ​ ​ ​ ​ ​ Asset retirement obligations—December 31, 2023 $ 59,214 ​ Obligations incurred ​ ​ 754 ​ Accretion expense ​ ​ 2,554 ​ Settlement of obligations ​ ​ (3,171) ​ Revisions to prior estimates ​ ​ (3,972) ​ Asset retirement obligations—September 30, 2024 ​ $ 55,379 ​ ​ Asset retirement obligations are included in other liabilities on the Company’s condensed consolidated balance sheets.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2024
Equity-Based Compensation
Equity-Based Compensation	(9) Equity-Based Compensation On June 17, 2020, Antero Resources’ stockholders approved the Antero Resources Corporation 2020 Long Term Incentive Plan (the “AR LTIP”), which replaced the Antero Resources Corporation Long Term Incentive Plan (the “2013 Plan”) and became effective as of such date. On June 5, 2024, the Company’s stockholders approved the Amended and Restated Antero Resources Corporation 2020 Long Term Incentive Plan (the “Amended AR LTIP”). This amendment increased the number of shares of the Company’s common stock reserved for awards from shares, and extended the term of the plan from June 17, 2030 to June 5, 2034. The Amended AR LTIP 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 (the “Board”). Employees, officers, non-employee directors and other service providers of the Company and its affiliates are eligible to receive awards under the Amended AR LTIP. The Amended AR LTIP provides for the reservation of 14,916,100 shares of the Company’s common stock, plus the number of certain shares that become available again for delivery 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 the actual delivery of shares to be considered not delivered and thus, available for new awards under the Amended AR LTIP. 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 AR LTIP or Amended AR LTIP (other than stock options and stock appreciation rights), will again be available for new awards under the Amended AR LTIP. A total of 10,871,264 shares were available for future grant under the Amended AR LTIP as of September 30, 2024. The Company’s equity-based compensation expense, by type of award, is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2023 ​ 2024 2023 ​ 2024 ​ RSU awards ​ $ 8,286 ​ ​ 11,499 ​ ​ 24,268 ​ ​ 31,908 ​ PSU awards ​ ​ 9,796 ​ ​ 4,190 ​ ​ 19,643 ​ ​ 16,257 ​ Converted AM RSU Awards (1) ​ ​ — ​ ​ — ​ ​ 1 ​ ​ — ​ Equity awards issued to directors ​ ​ 376 ​ ​ 376 ​ ​ 1,076 ​ ​ 1,128 ​ Total expense ​ $ 18,458 ​ ​ 16,065 ​ ​ 44,988 ​ ​ 49,293 ​ (1) Antero Resources recognized compensation expense for equity-based awards granted by Antero Midstream Partners LP’s (“Antero Midstream Partners”) under its equity compensation plans prior to March 12, 2019 (date of deconsolidation) because the awards under such plans were accounted for as if they were distributed by Antero Midstream Partners to Antero Resources. Antero Resources allocated a portion of equity-based compensation expense related to grants prior to March 12, 2019 to Antero Midstream Partners based on its proportionate share of Antero Resources’ labor costs. As of March 31, 2023, all such awards were fully vested, and there is no remaining unamortized expense attributable to these awards after such date . ​ (a) Restricted Stock Unit Awards A summary of RSU award activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value Total awarded and unvested—December 31, 2023 ​ 3,521,050 ​ $ 22.40 ​ Granted ​ 1,404,041 ​ ​ 26.52 ​ Vested ​ (1,588,616) ​ ​ 17.73 ​ Forfeited ​ (85,114) ​ ​ 26.01 ​ Total awarded and unvested—September 30, 2024 ​ 3,251,361 ​ $ 26.36 ​ ​ As of September 30, 2024, there was $60 million of unamortized equity-based compensation expense related to unvested RSUs. That expense is expected to be recognized over a weighted average period of (b) Performance Share Unit Awards Performance Share Unit Awards Based on Total Shareholder Return In March 2024, the Company granted PSU awards to certain of its senior management and 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 March 7, 2025, March 7, 2026 and March 7, 2027, and one cumulative three-year performance period ending on March 7, 2027, in each case, subject to certain continued employment criteria (“2024 Absolute TSR PSUs”). The number of shares of common stock that may ultimately be earned following the end of the cumulative three-year performance period with respect to the 2024 Absolute TSR PSUs ranges from zero to 200% of the target number of 2024 Absolute TSR PSUs originally granted. Expense related to these PSUs is recognized on a graded-vested basis over the term of each performance period. Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. The following table presents the assumptions used in the Monte Carlo valuation model and the grant date fair value information for the 2024 Absolute TSR PSUs: ​ ​ ​ ​ ​ ​ Dividend yield ​ ​ — % ​ Volatility ​ ​ 55 % ​ Risk-free interest rate ​ ​ 4.23 % ​ Weighted average fair value of awards granted ​ $ 32.29 ​ ​ ​ Performance Share Unit Awards Based on Leverage Ratio In March 2024, the Company granted PSUs to certain of its senior management and executive officers that vest based on the Company’s total debt less cash and cash equivalents divided by the Company’s Adjusted EBITDAX (as defined in the award agreement) (“Net Debt to EBITDAX”) determined as of the last day of each of three one-year performance periods ending on December 31, 2024 December 31, 2025 and December 31, 2026, in each case, subject to certain continued employment criteria (“2024 Leverage Ratio PSUs”). The number of shares of common stock that may ultimately be earned following the end of the third performance period with respect to the 2024 Leverage Ratio PSUs ranges from zero to 200% of the target number of 2024 Leverage Ratio PSUs originally granted. Expense related to the 2024 Leverage Ratio PSUs is recognized on a graded-vested basis over the term of each performance period that reflects the number of shares of common stock that are expected to be issued at the end of each measurement period, and such expense is reversed if the likelihood of achieving the performance condition becomes improbable. As of September 30, 2024, the likelihood of achieving the performance conditions related to the 2024 Leverage Ratio PSUs was probable. Summary Information for Performance Share Unit Awards A summary of PSU activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value Total awarded and unvested—December 31, 2023 ​ 1,412,191 ​ $ 29.54 ​ Granted ​ 354,016 ​ ​ 29.39 ​ Vested (1) ​ (414,912) ​ ​ 10.76 ​ Total awarded and unvested—September 30, 2024 ​ 1,351,295 ​ $ 35.27 ​ (1) During the nine months ended September 30, 2024, the PSUs granted in 2021 that were based on absolute TSR and Net Debt to EBITDAX met the performance criteria to achieve vesting at 150% and 200% of target, respectively, and converted into approximately 0.7 million shares of the Company’s common stock. ​ As of September 30, 2024, there was $17 million of unamortized equity-based compensation expense related to unvested PSUs. That expense is expected to be recognized over a weighted average period of (c) Stock Options A summary of the stock option activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ Number ​ Exercise ​ Contractual ​ Value ​ ​ of Options Price Life (in thousands) (1) ​ Outstanding—December 31, 2023 ​ 258,696 ​ $ 50.04 ​ 1.3 ​ $ — ​ Expired ​ (1,667) ​ ​ 50.00 ​ — ​ ​ — ​ Outstanding—September 30, 2024 ​ 257,029 ​ $ 50.04 ​ 0.5 ​ ​ — ​ Vested—September 30, 2024 ​ 257,029 ​ $ 50.04 ​ 0.5 ​ $ — ​ Exercisable—September 30, 2024 ​ 257,029 ​ $ 50.04 ​ 0.5 ​ $ — ​ (1) Intrinsic values are based on the exercise price of the options and the closing price of Antero Resources’ common stock on the referenced dates .

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2024
Fair Value.
Fair Value	(10) Fair Value The carrying values of accounts receivable and accounts payable as of December 31, 2023 and September 30, 2024 approximated market values because of their short-term nature. The carrying values of the amounts outstanding under the Credit Facility as of December 31, 2023 and September 30, 2024 approximated fair value because the variable interest rates are reflective of current market conditions. The following table sets forth the fair value and carrying value of the senior notes and 2026 Convertible Notes (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, 2023 ​ September 30, 2024 ​ ​ Fair Carrying Fair Carrying ​ ​ ​ Value (1) ​ Value (2) ​ Value (1) ​ Value (2) ​ 2026 Notes ​ $ 99,534 ​ ​ 96,351 ​ ​ 99,166 ​ ​ 96,536 ​ 2029 Notes ​ ​ 417,781 ​ ​ 403,441 ​ ​ 418,066 ​ ​ 403,897 ​ 2030 Notes ​ ​ 573,720 ​ ​ 594,622 ​ ​ 591,000 ​ ​ 595,183 ​ 2026 Convertible Notes ​ ​ 138,337 ​ ​ 25,982 ​ ​ — ​ ​ — ​ Total ​ $ 1,229,372 ​ ​ 1,120,396 ​ ​ 1,108,232 ​ ​ 1,095,616 ​ (1) Fair values are based on Level 2 market data inputs. (2) Carrying values are presented net of unamortized debt issuance costs. ​ See Note 9—Equity-Based Compensation to the unaudited condensed consolidated financial statements for information regarding the fair value of equity-based awards. See Note 11—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
	Sep. 30, 2024
Derivative Instruments.
Derivative Instruments	(11) Derivative Instruments The Company is exposed to certain risks relating to its ongoing business operations, and it may use 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 three and nine months ended September 30, 2023 and 2024. 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. Under these basis swap agreements, when actual commodity prices upon settlement exceed the fixed price provided by the swap contracts, the Company receives the difference from the counterparty. When actual commodity prices upon settlement are less than the contractually provided fixed price, the Company pays the difference to the counterparty. 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 and comprehensive income. As of September 30, 2024, the Company’s fixed price swap positions excluding Martica, the Company’s consolidated VIE, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Commodity / Settlement Period Index Contracted Volume Price Propane ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ Mont Belvieu Propane-OPIS TET ​ 10,000 Bbl/day ​ $ 33.67 /Bbl ​ ​ The Company has a call option and an embedded put option tied to NYMEX pricing for the production volumes associated with the Company’s retained interest in the volumetric production payment transaction (“VPP”) properties. The put option was embedded within another contract, and since the embedded put option was not clearly and closely related to its host contract, the Company bifurcated this derivative instrument and reflects it at fair value in the unaudited condensed consolidated financial statements. As of September 30, 2024, the Company’s call option and embedded put option arrangements were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Embedded ​ ​ ​ ​ ​ ​ ​ ​ Call Option ​ Put Option ​ Commodity / Settlement Period Index Contracted Volume Strike Price Strike Price Natural Gas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ Henry Hub ​ 53,000 MMBtu/day ​ $ 2.477 /MMBtu ​ $ 2.477 /MMBtu ​ January-December 2025 ​ Henry Hub ​ 44,000 MMBtu/day ​ ​ 2.564 /MMBtu ​ ​ 2.564 /MMBtu ​ January-December 2026 ​ Henry Hub ​ 32,000 MMBtu/day ​ ​ 2.629 /MMBtu ​ ​ 2.629 /MMBtu ​ ​ As of September 30, 2024, 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 Average ​ Commodity / Settlement Period ​ Index to Basis Differential Contracted Volume Hedged Differential ​ Natural Gas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ NYMEX to TCO ​ 50,000 MMBtu/day ​ $ 0.530 /MMBtu ​ ​ ​ As of September 30, 2024, the Company’s fixed price swap positions for Martica, the Company’s consolidated VIE, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Commodity / Settlement Period Index Contracted Volume Price ​ Natural Gas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ Henry Hub ​ 22,047 MMBtu/day ​ $ 2.33 /MMBtu ​ January-March 2025 ​ Henry Hub ​ 18,021 MMBtu/day ​ ​ 2.53 /MMBtu ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ West Texas Intermediate ​ 38 Bbl/day ​ $ 44.02 /Bbl ​ January-March 2025 ​ West Texas Intermediate ​ 39 Bbl/day ​ ​ 45.06 /Bbl ​ ​ (b) Summary The table below presents a summary of the fair values of the Company’s derivative instruments and where such values are recorded in the condensed consolidated balance sheets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ Balance Sheet Location December 31, 2023 ​ September 30, 2024 ​ Asset derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current ​ Derivative instruments ​ $ — ​ ​ 3,040 ​ Embedded derivatives—current ​ Derivative instruments ​ ​ 5,175 ​ ​ 1,666 ​ Embedded derivatives—noncurrent ​ Derivative instruments ​ ​ 5,570 ​ ​ 2,507 ​ Total asset derivatives (1) ​ ​ ​ ​ 10,745 ​ ​ 7,213 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current (2) ​ Derivative instruments ​ ​ 15,236 ​ ​ 15,989 ​ Commodity derivatives—noncurrent (2) ​ Derivative instruments ​ ​ 32,764 ​ ​ 17,780 ​ Total liability derivatives (1) ​ ​ ​ ​ 48,000 ​ ​ 33,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net derivatives liability (1) ​ ​ ​ $ (37,255) ​ ​ (26,556) ​ (1) The fair value of derivative instruments was determined using Level 2 inputs. (2) As of December 31, 2023, approximately $5 million of commodity derivative liabilities, including $3 million of current commodity derivatives and $2 million of noncurrent commodity derivatives, are attributable to the Company’s consolidated VIE, Martica. As of September 30, 2024, $3 million of current commodity derivative liabilities are attributable to the Company’s consolidated VIE, Martica. The following table sets forth 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 condensed consolidated balance sheets as of the dates presented, all at fair value (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, 2023 ​ September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Net Amounts of ​ ​ ​ ​ ​ Net Amounts of ​ ​ ​ Gross ​ Gross ​ Assets ​ Gross ​ Gross ​ Assets ​ ​ ​ Amounts ​ Amounts Offset ​ (Liabilities) on ​ Amounts ​ Amounts Offset ​ (Liabilities) on ​ ​ Recognized Recognized Balance Sheet Recognized Recognized Balance Sheet ​ Commodity derivative assets ​ $ 406 ​ ​ (406) ​ ​ — ​ ​ 3,048 ​ ​ (8) ​ ​ 3,040 ​ Embedded derivative assets ​ ​ 10,745 ​ ​ — ​ ​ 10,745 ​ ​ 4,173 ​ ​ — ​ ​ 4,173 ​ Commodity derivative liabilities ​ ​ (48,406) ​ ​ 406 ​ ​ (48,000) ​ ​ (33,777) ​ ​ 8 ​ ​ (33,769) ​ ​ The following table sets forth a summary of derivative fair value gains and losses and where such values are recorded in the unaudited condensed consolidated statements of operations and comprehensive income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Statement of ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ Operations ​ September 30, ​ September 30, ​ ​ Location ​ 2023 ​ 2024 ​ 2023 ​ 2024 ​ Commodity derivative fair value gains (1) ​ Revenue ​ $ 5,290 ​ ​ 18,004 ​ ​ 138,602 ​ ​ 22,726 ​ Embedded derivative fair value gains (losses) (1) ​ Revenue ​ ​ (1,842) ​ ​ 364 ​ ​ (678) ​ ​ (497) ​ (1) The fair value of derivative instruments was determined using Level 2 inputs . ​ Commodity derivative fair value gains for the nine months ended September 30, 2023, includes a loss of $202 million related to the early settlement of the Company’s natural gas swaption agreement. The payment for this early settlement is classified as an operating cash flow on the Company’s condensed consolidated statement of cash flows.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases
Leases	(12) Leases The Company leases certain office space, processing plants, drilling rigs and completion services, gas gathering lines, compressor stations, and other office and field equipment. Leases with an initial term of 12 months or less are considered short-term and are not recorded on the balance sheet. Instead, the short-term leases are recognized in expense on a straight-line basis over the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease from one or more. The exercise of the lease renewal options is 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. (a) Supplemental Balance Sheet Information Related to Leases The Company’s lease assets and liabilities consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ ​ ​ December 31, ​ September 30, ​ Leases Balance Sheet Classification 2023 2024 ​ Operating Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing plants ​ Operating lease right-of-use assets ​ $ 1,611,903 ​ ​ 1,425,273 ​ Drilling rigs and completion services ​ Operating lease right-of-use assets ​ ​ 32,187 ​ ​ 9,005 ​ Gas gathering lines and compressor stations (1) ​ Operating lease right-of-use assets ​ ​ 1,283,668 ​ ​ 1,189,000 ​ Office space ​ Operating lease right-of-use assets ​ ​ 37,706 ​ ​ 34,537 ​ Office, field and other equipment ​ Operating lease right-of-use assets ​ ​ 416 ​ ​ 473 ​ Total operating lease right-of-use assets ​ ​ ​ $ 2,965,880 ​ ​ 2,658,288 ​ Operating lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term operating lease liabilities ​ Short-term lease liabilities ​ $ 538,954 ​ ​ 504,419 ​ Long-term operating lease liabilities ​ Long-term lease liabilities ​ ​ 2,425,785 ​ ​ 2,146,881 ​ Total operating lease liabilities ​ ​ ​ $ 2,964,739 ​ ​ 2,651,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease right-of-use assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Vehicles ​ Other property and equipment ​ $ 3,771 ​ ​ 2,960 ​ Total finance lease right-of-use assets (2) ​ ​ ​ $ 3,771 ​ ​ 2,960 ​ Finance lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term finance lease liabilities ​ Short-term lease liabilities ​ $ 1,106 ​ ​ 1,233 ​ Long-term finance lease liabilities ​ Long-term lease liabilities ​ ​ 2,665 ​ ​ 1,727 ​ Total finance lease liabilities ​ ​ ​ $ 3,771 ​ ​ 2,960 ​ (1) Gas gathering lines and compressor stations includes $1.3 billion and $1.2 billion related to Antero Midstream as of December 31, 2023 and September 30, 2024, respectively. See “—Related party lease disclosure” for additional discussion. (2) Financing lease assets are recorded net of accumulated amortization of $1 million and $2 million as of December 31, 2023 and September 30, 2024, respectively . The processing plants, gathering lines and compressor stations that are classified as lease liabilities are classified as such under FASB ASC Topic 842, Leases ​ (b) Supplemental Information Related to Leases Costs associated with operating and finance leases were included in the unaudited condensed consolidated statement of operations and comprehensive income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ Cost Classification Location 2023 2024 2023 2024 ​ Operating lease cost ​ Statement of operations ​ Gathering, compression, processing and transportation ​ $ 418,005 ​ ​ 435,308 ​ ​ 1,206,733 ​ ​ 1,283,302 ​ Operating lease cost ​ Statement of operations ​ General and administrative ​ ​ 3,105 ​ ​ 3,164 ​ ​ 9,072 ​ ​ 9,233 ​ Operating lease cost ​ Statement of operations ​ Contract termination, loss contingency and settlements ​ ​ 297 ​ ​ — ​ ​ 4,227 ​ ​ — ​ Operating lease cost ​ Statement of operations ​ Lease operating ​ ​ 21 ​ ​ 28 ​ ​ 63 ​ ​ 76 ​ Operating lease cost ​ Balance sheet ​ Proved properties (1) ​ ​ 40,543 ​ ​ 30,864 ​ ​ 111,915 ​ ​ 92,990 ​ Total operating lease cost ​ ​ ​ ​ ​ $ 461,971 ​ ​ 469,364 ​ ​ 1,332,010 ​ ​ 1,385,601 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Statement of operations ​ Depletion, depreciation and amortization ​ $ 464 ​ ​ 405 ​ ​ 1,102 ​ ​ 1,253 ​ Interest on lease liabilities ​ Statement of operations ​ Interest expense ​ ​ 165 ​ ​ 125 ​ ​ 441 ​ ​ 410 ​ Total finance lease cost ​ ​ ​ ​ ​ $ 629 ​ ​ 530 ​ ​ 1,543 ​ ​ 1,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term lease payments ​ ​ ​ ​ ​ $ 31,324 ​ ​ 26,636 ​ ​ 103,732 ​ ​ 84,307 ​ (1) Capitalized costs related to drilling and completion activities. ​ (c) Supplemental Cash Flow Information Related to Leases The following table presents the Company’s supplemental cash flow information related to leases (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ 2023 2024 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 1,023,385 ​ ​ 1,098,799 ​ Operating cash flows from finance leases ​ ​ 441 ​ ​ 410 ​ Investing cash flows from operating leases ​ ​ 95,480 ​ ​ 78,275 ​ Financing cash flows from finance leases ​ ​ 580 ​ ​ 811 ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncash activities: ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease obligations ​ $ 80,969 ​ ​ 97,720 ​ Increase (decrease) to existing right-of-use assets and lease obligations from operating lease modifications, net (1) ​ $ 12,640 ​ ​ (1,472) ​ (1) During the nine months ended September 30, 2023, the weighted average discount rate for remeasured operating leases increased from 5.1% as of December 31, 2022 to 5.8% as of September 30, 2023. During the nine months ended September 30, 2024, the weighted average discount rate for remeasured operating leases decreased from 6.5% as of December 31, 2023 to 6.0% as of September 30, 2024. ​ (d) Maturities of Lease Liabilities The table below is a schedule of future minimum payments for operating and financing lease liabilities as of September 30, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Financing Leases ​ Total ​ Remainder of 2024 ​ $ 173,056 ​ ​ 407 ​ ​ 173,463 ​ 2025 ​ ​ 617,297 ​ ​ 1,585 ​ ​ 618,882 ​ 2026 ​ ​ 564,792 ​ ​ 1,230 ​ ​ 566,022 ​ 2027 ​ ​ 465,588 ​ ​ 197 ​ ​ 465,785 ​ 2028 ​ ​ 388,734 ​ ​ 23 ​ ​ 388,757 ​ Thereafter ​ ​ 943,071 ​ ​ 10 ​ ​ 943,081 ​ Total lease payments ​ ​ 3,152,538 ​ ​ 3,452 ​ ​ 3,155,990 ​ Less: imputed interest ​ ​ (501,238) ​ ​ (492) ​ ​ (501,730) ​ Total ​ $ 2,651,300 ​ ​ 2,960 ​ ​ 2,654,260 ​ ​ (e) Lease Term and Discount Rate The following table sets forth the Company’s weighted average remaining lease term and discount rate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ September 30, 2024 ​ ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ ​ Weighted average remaining lease term ​ 6.5 years ​ 3.0 years ​ 6.2 years ​ 2.3 years ​ ​ Weighted average discount rate ​ 5.9 % 8.3 % 5.7 % 8.4 % ​ ​ (f) Related Party Lease Disclosure The Company has gathering and compression service agreements with Antero Midstream that include: (i) the second amended and restated gathering and compression agreement dated December 8, 2019 (the “2019 gathering and compression agreement”), (ii) a gathering and compression agreement from Antero Midstream’s acquisition in 2022 of certain Marcellus gathering and compression assets in an area of dedication (the “Marcellus gathering and compression agreement”) and (iii) a compression agreement from Antero Midstream’s acquisition in 2022 of certain Utica compressors (the “Utica compression agreement” and (iv) a gathering and compression agreement from Antero Midstream’s acquisition in the second quarter of 2024 of certain central Marcellus gathering and compression assets (the “Mountaineer gathering and compression agreement,” and together with the 2019 gathering and compression agreement, Marcellus gathering and compression agreement and the Utica compression agreement, the “gathering and compression agreements”). Pursuant to the gathering and compression agreements with Antero Midstream, the Company has dedicated substantially all of its current and future acreage in West Virginia, Ohio and Pennsylvania to Antero Midstream for gathering and compression services. The 2019 gathering and compression agreement, Marcellus gathering and compression agreement and Mountaineer gathering and compression agreement have initial terms through 2038, 2031 and 2026, respectively, and the Utica compression agreement has dedicated areas that expire in 2024 and 2030. Upon expiration of the Marcellus gathering and compression agreement, the Utica compression agreement and the Mountaineer gathering and compression agreement, Antero Midstream will continue to provide gathering and compression services under the 2019 gathering and compression agreement. Under the gathering and compression agreements, Antero Midstream receives a low pressure gathering fee per Mcf, a high pressure gathering fee per Mcf and a compression fee per Mcf, as applicable, subject to annual Consumer Price Index (“CPI”)-based adjustments. If and to the extent the Company requests that Antero Midstream construct new low pressure lines, high pressure lines and compressor stations, the 2019 gathering and compression agreement contains options at Antero Midstream’s election for either (i) minimum volume commitments that require Antero Resources to utilize or pay for . The Marcellus gathering and compression agreement provides for a minimum volume commitment that requires the Company to utilize or pay for from the in-service date. The Mountaineer gathering and compression agreement provides for monthly minimum compression and gathering fees for each compressor station or high pressure gathering line, respectively, for a period of days after such asset’s in-service date. As of September 30, 2024, the minimum volume commitments for the 2019 gathering and compression agreement and Marcellus gathering and compression agreement end in 2034 and 2024, respectively, and the minimum compression and gathering fees for the Mountaineer gathering and compression agreement end in 2026. The 2019 gathering and compression agreement included a growth incentive fee program that expired on December 31, 2023 whereby low pressure gathering fees were reduced from 2020 through 2023 to the extent the Company achieved certain quarterly volumetric targets. The Company’s throughput gathered under the Marcellus gathering and compression agreement was not considered in the low pressure gathering volume targets. The Company earned fee rebates of Upon completion of the initial contract term, the 2019 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 notice from either the Company or Antero Midstream to the other party on or before the 180th day prior to the anniversary of such agreement. Gathering and compression fees paid by the Company related to these agreements were $189 million and $207 million for the three months ended September 30, 2023 and 2024, respectively. For the nine months ended September 30, 2023 and 2024, gathering and compression fees paid by the Company related to this agreement were million, respectively. As of December 31, 2023 and September 30, 2024,

Commitments

Commitments	9 Months Ended
	Sep. 30, 2024
Commitments
Commitments	(13) Commitments The following table sets forth a schedule of future minimum payments for the Company’s contractual obligations, which include leases that have a lease term in excess of one year as of September 30, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Firm ​ Compression ​ Operating and ​ Imputed Interest ​ ​ ​ ​ ​ ​ ​ Transportation ​ and Water Service ​ Financing Leases ​ for Leases ​ Other ​ ​ ​ ​ (a) (b) (c) (c) (d) Total Remainder of 2024 ​ $ 298,885 ​ ​ 17,680 ​ ​ 136,145 ​ ​ 37,317 ​ ​ 3,038 ​ ​ 493,065 ​ 2025 ​ ​ 1,184,532 ​ ​ 59,178 ​ ​ 487,948 ​ ​ 130,935 ​ ​ 8,437 ​ ​ 1,871,030 ​ 2026 ​ ​ 1,182,065 ​ ​ 26,001 ​ ​ 462,483 ​ ​ 103,538 ​ ​ 3,976 ​ ​ 1,778,063 ​ 2027 ​ ​ 1,177,068 ​ ​ 24,712 ​ ​ 387,210 ​ ​ 78,575 ​ ​ 375 ​ ​ 1,667,940 ​ 2028 ​ ​ 1,118,610 ​ ​ 23,379 ​ ​ 330,913 ​ ​ 57,845 ​ ​ — ​ ​ 1,530,747 ​ Thereafter ​ ​ 4,439,689 ​ ​ 86,473 ​ ​ 849,561 ​ ​ 93,520 ​ ​ — ​ ​ 5,469,243 ​ Total ​ $ 9,400,849 ​ ​ 237,423 ​ ​ 2,654,260 ​ ​ 501,730 ​ ​ 15,826 ​ ​ 12,810,088 ​ ​ (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 unaudited condensed consolidated financial statements its proportionate share of costs based on its working interest. (b) Processing, Gathering, Compression and Water Service Commitments The Company has entered into various long- term gas processing, gathering, compression and water 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 unaudited condensed consolidated financial statements its proportionate share of costs based on its working interest. (c) Operating and Finance 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. See Note 12—Leases to the unaudited condensed consolidated financial statements for more information on the Company’s operating and finance leases. (d) Other The Company has entered into various land acquisition and sand supply 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. (e) Contract Terminations The Company incurs costs associated with the delay or cancellation of certain contracts with third-parties. These costs are recorded in contract termination, loss contingency and settlements in the statements of operations and comprehensive income. During the first quarter of 2023, the Company executed an early termination of its firm transportation commitment of million. There are no remaining payment obligations related to any delayed or cancelled contracts as of September 30, 2024.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2024
Contingencies
Contingencies	(14) Contingencies (a) Environmental In June 2018, the Company 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. The NOV alleges that combustion devices at these facilities did not meet applicable air permitting requirements. Separately, in June 2018, the Company received an information request from the 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, the West Virginia Department of Environmental Protection (“WVDEP”) and the EPA Region V (covering Ohio facilities) each conducted its own inspections, and the Company has separately received NOVs from WVDEP and EPA Region V related to similar issues being investigated by the EPA Region III. The Company continues to negotiate with the EPA and WVDEP to resolve the issues alleged in the NOVs and the information request. The Company’s operations at these facilities are not suspended, and management does not expect these matters to have a material adverse effect on the Company’s financial condition, results of operations or cash flows. (b) Production Taxes The Company is subject to production taxes in the states in which it operates. The Company’s production tax filings in West Virginia for 2018 to 2020 tax years were subject to audit by the State of West Virginia. All assessments received in conjunction with this audit have been recorded in the unaudited condensed consolidated statements of operations and comprehensive net loss during the nine months ended September 30, 2024; however, the Company has filed an appeal with regard to such assessments. At this time, the Company believes the outcome of this matter will not have a material adverse effect on the Company’s unaudited condensed consolidated financial position, results of operations or cash flows. (c) 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 unaudited condensed consolidated financial position, results of operations or cash flows. In addition, pending litigation against the Company and other similarly situated peer operators could have an impact on the methods for determining the amount of permitted post-production costs and types of costs that have been, and may be, deducted from royalty payments, among other things. While the amounts claimed could be material, we are unable to predict with certainty the ultimate outcome of such claims and proceedings. Rulings were recently received in two cases to which the Company is a party, and where the plaintiffs alleged, and the court found, that certain post-production costs may not be deducted: a non-class action lawsuit in West Virginia and a class action lawsuit in Ohio. In each case, the alleged damages were not material. The Company will continue to challenge the legal conclusions reached in each of these cases with respect to deductibility of post-production costs, and continues to analyze how these decisions may impact other cases to which the Company is a party. At this time, the Company cannot predict how these issues may ultimately be resolved, and therefore is also unable to estimate any potential damages, if any, that may result. The Company accrues for litigation, claims and proceedings when liability is both probable and the amount can be reasonably estimated, and does not currently have any material amounts accrued with respect to its pending litigation matters. ​

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2024
Related Parties
Related Parties	(15) Related Parties Substantially all of Antero Midstream’s revenues were and are derived from transactions with Antero Resources. See Note 16—Reportable Segments to the unaudited condensed consolidated financial statements for the operating results of the Company’s reportable segments. ​

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2024
Reportable Segments
Reportable Segments	(16) Reportable Segments (a) Summary of Reportable Segments The Company’s operations, which are located in the United States, are organized into three reportable segments: (i) the exploration, development and production of natural gas, NGLs and oil; (ii) marketing and utilization of excess firm transportation capacity and (iii) midstream services through the Company’s equity method investment in Antero Midstream. Substantially all of the Company’s 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. These segments are monitored separately by management for performance and are consistent with internal financial reporting. These segments have been identified based on the differing products and services, regulatory environment and the expertise required for these operations. Management evaluates the performance of the Company’s business segments based on operating income (loss). 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. Exploration and Production The exploration and production segment is engaged in the development, production, exploration and acquisition of natural gas, NGLs and oil properties located in the Appalachian Basin. 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. Marketing Where feasible, the Company purchases and sells third-party natural gas and NGLs and markets its excess firm transportation capacity, or engages third parties to conduct these activities on the Company’s behalf, in order to optimize the revenues from these transportation agreements. The Company has entered into long-term firm transportation agreements for a significant portion of its current and expected future production in order to secure guaranteed capacity to favorable markets. Equity Method Investment in Antero Midstream The Company receives midstream services through its equity method investment in Antero Midstream. Antero Midstream owns, operates and develops midstream energy infrastructure primarily to service the Company’s production and completion activity in the Appalachian Basin. Antero Midstream’s assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants and water handling assets. Antero Midstream provides midstream services to Antero Resources under long-term contracts. (b) Reportable Segments Financial Information The operating results and assets of the Company’s reportable segments were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 1,072,562 ​ ​ 53,068 ​ ​ 383 ​ ​ (383) ​ ​ 1,125,630 ​ Intersegment ​ ​ 546 ​ ​ — ​ ​ 263,456 ​ ​ (263,456) ​ ​ 546 ​ Total revenue ​ ​ 1,073,108 ​ ​ 53,068 ​ ​ 263,839 ​ ​ (263,839) ​ ​ 1,126,176 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 33,484 ​ ​ — ​ ​ — ​ ​ — ​ ​ 33,484 ​ Gathering, compression, processing, transportation and water handling ​ ​ 671,886 ​ ​ — ​ ​ 51,914 ​ ​ (51,914) ​ ​ 671,886 ​ General and administrative ​ ​ 58,425 ​ ​ — ​ ​ 17,633 ​ ​ (17,633) ​ ​ 58,425 ​ Depletion, depreciation and amortization ​ ​ 176,259 ​ ​ — ​ ​ 30,745 ​ ​ (30,745) ​ ​ 176,259 ​ Impairment of property and equipment ​ ​ 13,476 ​ ​ — ​ ​ — ​ ​ — ​ ​ 13,476 ​ Other ​ ​ 47,372 ​ ​ 69,542 ​ ​ 1,234 ​ ​ (1,234) ​ ​ 116,914 ​ Total operating expenses ​ ​ 1,000,902 ​ ​ 69,542 ​ ​ 101,526 ​ ​ (101,526) ​ ​ 1,070,444 ​ Operating income (loss) ​ $ 72,206 ​ ​ (16,474) ​ ​ 162,313 ​ ​ (162,313) ​ ​ 55,732 ​ Equity in earnings of unconsolidated affiliates ​ $ 22,207 ​ ​ — ​ ​ 27,397 ​ ​ (27,397) ​ ​ 22,207 ​ Capital expenditures for segment assets ​ $ 912,046 ​ ​ — ​ ​ 45,286 ​ ​ (45,286) ​ ​ 912,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 1,008,182 ​ ​ 47,160 ​ ​ 397 ​ ​ (397) ​ ​ 1,055,342 ​ Intersegment ​ 578 ​ ​ — ​ ​ 269,473 ​ ​ (269,473) ​ ​ 578 ​ Total revenue ​ ​ 1,008,760 ​ ​ 47,160 ​ ​ 269,870 ​ ​ (269,870) ​ ​ 1,055,920 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 29,597 ​ ​ — ​ ​ — ​ ​ — ​ ​ 29,597 ​ Gathering, compression, processing, transportation and water handling ​ ​ 685,183 ​ ​ — ​ ​ 51,724 ​ ​ (51,724) ​ ​ 685,183 ​ General and administrative ​ ​ 54,627 ​ ​ — ​ ​ 22,872 ​ ​ (22,872) ​ ​ 54,627 ​ Depletion, depreciation and amortization ​ ​ 170,197 ​ ​ — ​ ​ 32,534 ​ ​ (32,534) ​ ​ 170,197 ​ Impairment of property and equipment ​ ​ 13,455 ​ ​ — ​ ​ 332 ​ ​ (332) ​ ​ 13,455 ​ Other ​ ​ 46,620 ​ ​ 62,144 ​ ​ (19) ​ ​ 19 ​ ​ 108,764 ​ Total operating expenses ​ ​ 999,679 ​ ​ 62,144 ​ ​ 107,443 ​ ​ (107,443) ​ ​ 1,061,823 ​ Operating income (loss) ​ $ 9,081 ​ ​ (14,984) ​ ​ 162,427 ​ ​ (162,427) ​ ​ (5,903) ​ Equity in earnings of unconsolidated affiliates ​ $ 25,634 ​ ​ — ​ ​ 27,668 ​ ​ (27,668) ​ ​ 25,634 ​ Capital expenditures for segment assets ​ $ 173,630 ​ ​ — ​ ​ 55,535 ​ ​ (55,535) ​ ​ 173,630 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 3,331,130 ​ ​ 155,390 ​ ​ 929 ​ ​ (929) ​ ​ 3,486,520 ​ Intersegment ​ 1,309 ​ ​ — ​ ​ 780,672 ​ ​ (780,672) ​ ​ 1,309 ​ Total revenue ​ ​ 3,332,439 ​ ​ 155,390 ​ ​ 781,601 ​ ​ (781,601) ​ ​ 3,487,829 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 91,553 ​ ​ — ​ ​ — ​ ​ — ​ ​ 91,553 ​ Gathering, compression, processing, transportation and water handling ​ ​ 1,981,033 ​ ​ — ​ ​ 162,382 ​ ​ (162,382) ​ ​ 1,981,033 ​ General and administrative ​ ​ 169,587 ​ ​ — ​ ​ 53,142 ​ ​ (53,142) ​ ​ 169,587 ​ Depletion, depreciation and amortization ​ ​ 515,247 ​ ​ — ​ ​ 101,174 ​ ​ (101,174) ​ ​ 515,247 ​ Impairment of property and equipment ​ ​ 44,746 ​ ​ — ​ ​ — ​ ​ — ​ ​ 44,746 ​ Other ​ ​ 146,536 ​ ​ 240,841 ​ ​ 8,722 ​ ​ (8,722) ​ ​ 387,377 ​ Total operating expenses ​ ​ 2,948,702 ​ ​ 240,841 ​ ​ 325,420 ​ ​ (325,420) ​ ​ 3,189,543 ​ Operating income (loss) ​ $ 383,737 ​ ​ (85,451) ​ ​ 456,181 ​ ​ (456,181) ​ ​ 298,286 ​ Equity in earnings of unconsolidated affiliates ​ $ 58,986 ​ ​ — ​ ​ 77,825 ​ ​ (77,825) ​ ​ 58,986 ​ Capital expenditures for segment assets ​ $ 912,046 ​ ​ — ​ ​ 130,025 ​ ​ (130,025) ​ ​ 912,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 3,009,995 ​ ​ 145,098 ​ ​ 1,482 ​ ​ (1,482) ​ ​ 3,155,093 ​ Intersegment ​ 1,752 ​ ​ — ​ ​ 817,234 ​ ​ (817,234) ​ ​ 1,752 ​ Total revenue ​ ​ 3,011,747 ​ ​ 145,098 ​ ​ 818,716 ​ ​ (818,716) ​ ​ 3,156,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 88,477 ​ ​ — ​ ​ — ​ ​ — ​ ​ 88,477 ​ Gathering, compression, processing, transportation and water handling ​ ​ 2,020,906 ​ ​ — ​ ​ 162,051 ​ ​ (162,051) ​ ​ 2,020,906 ​ General and administrative ​ ​ 169,917 ​ ​ — ​ ​ 65,312 ​ ​ (65,312) ​ ​ 169,917 ​ Depletion, depreciation and amortization ​ ​ 513,787 ​ ​ — ​ ​ 107,205 ​ ​ (107,205) ​ ​ 513,787 ​ Impairment of property and equipment ​ ​ 18,958 ​ ​ — ​ ​ 332 ​ ​ (332) ​ ​ 18,958 ​ Other ​ ​ 154,768 ​ ​ 192,764 ​ ​ 2,385 ​ ​ (2,385) ​ ​ 347,532 ​ Total operating expenses ​ ​ 2,966,813 ​ ​ 192,764 ​ ​ 337,285 ​ ​ (337,285) ​ ​ 3,159,577 ​ Operating income (loss) ​ $ 44,934 ​ ​ (47,666) ​ ​ 481,431 ​ ​ (481,431) ​ ​ (2,732) ​ Equity in earnings of unconsolidated affiliates ​ $ 69,862 ​ ​ — ​ ​ 82,795 ​ ​ (82,795) ​ ​ 69,862 ​ Capital expenditures for segment assets ​ $ 588,464 ​ ​ — ​ ​ 134,007 ​ ​ (134,007) ​ ​ 588,464 ​ ​ ​ The summarized assets of the Company’s reportable segments are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total ​ Investments in unconsolidated affiliates ​ $ 222,255 ​ ​ — ​ ​ 626,650 ​ ​ (626,650) ​ ​ 222,255 ​ Total assets ​ ​ 13,602,297 ​ ​ 17,117 ​ ​ 5,737,618 ​ ​ (5,737,618) ​ ​ 13,619,414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ As of September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total Investments in unconsolidated affiliates ​ $ 226,860 ​ ​ — ​ ​ 609,427 ​ ​ (609,427) ​ ​ 226,860 ​ Total assets ​ ​ 13,211,758 ​ ​ 11,860 ​ ​ 5,777,451 ​ ​ (5,777,451) ​ ​ 13,223,618 ​ ​

Subsidiary Guarantors

Subsidiary Guarantors	9 Months Ended
	Sep. 30, 2024
Subsidiary Guarantors
Subsidiary Guarantors	(17) Subsidiary Guarantors As of December 31, 2023, Antero Resources’ senior notes were fully and unconditionally guaranteed by Antero Resources’ existing subsidiaries that guaranteed the Secured Credit Facility. A subsidiary guarantor would be released from its obligations under the indentures and its guarantee (i) 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, (ii) if Antero designated such subsidiary as an unrestricted subsidiary and such designation complied with the other applicable provisions of the indentures governing the senior notes or (iii) in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the senior notes. As described in Note 7—Long-Term Debt, the Unsecured Credit Facility is not guaranteed by any of Antero Resources’ subsidiaries. As such, each subsidiary guarantor was released from its obligations under the indentures and its guarantee on July 30, 2024. The table set forth below presents summarized financial information of Antero, as parent, and its guarantor subsidiaries as of December 31, 2023. The Company’s wholly owned subsidiaries were not restricted from making distributions to the Company. ​ ​ ​ ​ ​ Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ Current assets ​ $ 453,581 ​ Noncurrent assets ​ ​ 12,562,439 ​ Total assets ​ $ 13,016,020 ​ ​ ​ ​ ​ ​ Accounts payable, related parties ​ $ 86,284 ​ Other current liabilities ​ ​ 1,360,102 ​ Total current liabilities ​ ​ 1,446,386 ​ Noncurrent liabilities ​ ​ 4,951,464 ​ Total liabilities ​ $ 6,397,850 ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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 SEC applicable to interim financial information and should be read in the context of the Company’s December 31, 2023 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, 2023 consolidated financial statements were included in Antero Resources’ 2023 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, 2023 and September 30, 2024, results of operations for the three and nine months ended September 30, 2023 and 2024 and cash flows for the nine months ended September 30, 2023 and 2024. 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 three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year because of the impact of fluctuations in prices received for natural gas, NGLs and oil, natural production declines, the uncertainty of exploration and development drilling results, fluctuations in the fair value of derivative instruments and other factors.
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 and its variable interest entity (“VIE”), Martica Holdings LLC, (“Martica”), for which the Company is the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements.
Cash and Cash Equivalents	(c) 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 condensed consolidated balance sheets, and classifies the change in accounts payable associated with book overdrafts as an operating activity within its unaudited condensed consolidated statements of cash flows. As of December 31, 2023, the book overdrafts included within accounts payable and revenue distributions payable were million, respectively. As of September 30, 2024, the book overdrafts included within accounts payable and revenue distributions payable were $
Net Income (Loss) Per Common Share	(d) Net Income (Loss) Per Common Share Net income (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 common shares outstanding during the period. Net income (loss) per common share—diluted for each period is computed after giving consideration to the potential dilution from (i) outstanding equity-based awards using the treasury stock method and (ii) shares of common stock issuable upon conversion of the 2026 Convertible Notes (as defined below in Note 7—Long-Term Debt) using the if-converted method. The Company includes restricted stock unit (“RSU”) awards, performance share unit (“PSU”) awards and stock options in the calculation of diluted weighted average common 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 common shares outstanding are equal to basic weighted average common shares outstanding because the effects of all equity-based awards and the 2026 Convertible Notes are anti-dilutive. ​ The following is a reconciliation of the Company’s income (loss) attributable to common stockholders for basic and diluted net income (loss) per common share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 Net income (loss) attributable to Antero Resources Corporation—common shareholders ​ $ 17,808 ​ ​ (20,444) ​ ​ 148,155 ​ ​ (49,762) Add: Interest expense for 2026 Convertible Notes ​ ​ 470 ​ ​ — ​ ​ 1,555 ​ ​ — Less: Tax-effect of interest expense for 2026 Convertible Notes ​ ​ (101) ​ ​ — ​ ​ (334) ​ ​ — Net income (loss) attributable to Antero Resources Corporation—common shareholders and assumed conversions ​ $ 18,177 ​ ​ (20,444) ​ ​ 149,376 ​ ​ (49,762) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) per common share—basic ​ $ 0.06 ​ ​ (0.07) ​ ​ 0.50 ​ ​ (0.16) Net income (loss) per common share—diluted ​ $ 0.06 ​ ​ (0.07) ​ ​ 0.48 ​ ​ (0.16) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding—basic ​ ​ 300,141 ​ ​ 311,025 ​ ​ 298,461 ​ ​ 308,932 Weighted average common shares outstanding—diluted ​ ​ 311,534 ​ ​ 311,025 ​ ​ 310,958 ​ ​ 308,932 ​ The following is a reconciliation of the Company’s basic weighted average common shares outstanding to diluted weighted average common shares outstanding during the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2023 2024 2023 2024 Basic weighted average number of common shares outstanding ​ 300,141 ​ 311,025 ​ 298,461 ​ 308,932 Add: Dilutive effect of RSUs ​ 1,213 ​ — ​ 1,419 ​ — Add: Dilutive effect of PSUs ​ 1,105 ​ — ​ 1,080 ​ — Add: Dilutive effect of 2026 Convertible Notes ​ 9,075 ​ — ​ 9,998 ​ — Diluted weighted average number of common shares outstanding ​ 311,534 ​ 311,025 ​ 310,958 ​ 308,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common (1) ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ 1,128 ​ 3,274 ​ 1,267 ​ 3,526 PSUs ​ 100 ​ 1,675 ​ 199 ​ 1,790 Stock options ​ 323 ​ 257 ​ 324 ​ 258 2026 Convertible Notes ​ — ​ — ​ — ​ 1,615 (1) The potential dilutive effects of these securities were excluded from the computation of net income (loss) per common share—diluted because the inclusion of these securities would have been anti-dilutive.
Income Taxes	(e) Income Taxes The Company recognizes deferred tax assets and liabilities for temporary differences resulting from net operating loss carryforwards for income tax purposes and the differences between the financial statement and tax basis of assets and liabilities. The effect of changes in tax laws or tax rates is recognized during the period such changes are enacted. The effect of tax credits related to historical periods is recognized during the period when such credit is claimed on a filed tax return. The Company commissioned a multi-year research and development (“R&D”) tax credit study related to the Company’s drilling and completion methods that is expected to favorably impact the Company’s effective tax rate and future tax obligations when the results are recorded. The R&D tax study is expected to be finalized and filed on the Company’s federal and state tax returns, as applicable, during the fourth quarter of 2024.
Recently Issued Accounting Standards	(f) Recently Issued Accounting Standards Reportable Segments ​ In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 is intended to improve reportable segment disclosures primarily through enhanced disclosure of reportable segment expenses. This ASU is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is required to be applied retrospectively to all prior periods presented in the financial statements. The Company is evaluating the impact that ASU 2023-07 will have on the financial statements. The Company plans to adopt ASU 2023-07 in the Annual Report on Form 10-K for the year ending December 31, 2024. ​ Income Taxes ​ In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 is intended to improve income tax disclosures primarily through enhanced disclosure of income tax rate reconciliation items, and disaggregation of income (loss) from continuing operations, income tax expense (benefit) and income taxes paid, net disclosures by federal, state and foreign jurisdictions, among others. This ASU is effective for annual reporting periods beginning after December 15, 2024, and early adoption is permitted. ASU 2023-09 should be applied on a prospective basis, although retrospective application is permitted. The Company is evaluating the impact that ASU 2023-09 will have on the financial statements and the transition method it plans to use for adoption. The Company plans to adopt ASU 2023-09 in the Annual Report on Form 10-K for the year ending December 31, 2025.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies
Reconciliation of income (loss) attributable to common stockholders for basic and diluted net income (loss) common per share	The following is a reconciliation of the Company’s income (loss) attributable to common stockholders for basic and diluted net income (loss) per common share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 Net income (loss) attributable to Antero Resources Corporation—common shareholders ​ $ 17,808 ​ ​ (20,444) ​ ​ 148,155 ​ ​ (49,762) Add: Interest expense for 2026 Convertible Notes ​ ​ 470 ​ ​ — ​ ​ 1,555 ​ ​ — Less: Tax-effect of interest expense for 2026 Convertible Notes ​ ​ (101) ​ ​ — ​ ​ (334) ​ ​ — Net income (loss) attributable to Antero Resources Corporation—common shareholders and assumed conversions ​ $ 18,177 ​ ​ (20,444) ​ ​ 149,376 ​ ​ (49,762) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) per common share—basic ​ $ 0.06 ​ ​ (0.07) ​ ​ 0.50 ​ ​ (0.16) Net income (loss) per common share—diluted ​ $ 0.06 ​ ​ (0.07) ​ ​ 0.48 ​ ​ (0.16) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding—basic ​ ​ 300,141 ​ ​ 311,025 ​ ​ 298,461 ​ ​ 308,932 Weighted average common shares outstanding—diluted ​ ​ 311,534 ​ ​ 311,025 ​ ​ 310,958 ​ ​ 308,932
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 common shares outstanding to diluted weighted average common shares outstanding during the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2023 2024 2023 2024 Basic weighted average number of common shares outstanding ​ 300,141 ​ 311,025 ​ 298,461 ​ 308,932 Add: Dilutive effect of RSUs ​ 1,213 ​ — ​ 1,419 ​ — Add: Dilutive effect of PSUs ​ 1,105 ​ — ​ 1,080 ​ — Add: Dilutive effect of 2026 Convertible Notes ​ 9,075 ​ — ​ 9,998 ​ — Diluted weighted average number of common shares outstanding ​ 311,534 ​ 311,025 ​ 310,958 ​ 308,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common (1) ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ 1,128 ​ 3,274 ​ 1,267 ​ 3,526 PSUs ​ 100 ​ 1,675 ​ 199 ​ 1,790 Stock options ​ 323 ​ 257 ​ 324 ​ 258 2026 Convertible Notes ​ — ​ — ​ — ​ 1,615 (1) The potential dilutive effects of these securities were excluded from the computation of net income (loss) per common share—diluted because the inclusion of these securities would have been anti-dilutive.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue
Schedule of disaggregation of revenue	The table set forth below presents revenue disaggregated by type and reportable segment to which it relates (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ ​ September 30, ​ September 30, ​ ​ ​ 2023 2024 ​ 2023 ​ 2024 Reportable Segment Revenues from contracts with customers: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Natural gas sales ​ $ 516,214 ​ ​ 425,802 ​ ​ 1,621,659 ​ ​ 1,274,503 ​ Exploration and production Natural gas liquids sales (ethane) ​ ​ 78,551 ​ ​ 58,483 ​ ​ 200,764 ​ ​ 187,277 ​ Exploration and production Natural gas liquids sales (C3+ NGLs) ​ ​ 404,019 ​ ​ 445,717 ​ ​ 1,174,974 ​ ​ 1,323,976 ​ Exploration and production Oil sales ​ ​ 62,629 ​ ​ 52,724 ​ ​ 172,402 ​ ​ 180,899 ​ Exploration and production Marketing ​ ​ 53,068 ​ ​ 47,160 ​ ​ 155,390 ​ ​ 145,098 ​ Marketing Other revenue ​ ​ — ​ ​ 276 ​ ​ 540 ​ ​ 822 ​ Exploration and production Total revenue from contracts with customers ​ ​ 1,114,481 ​ ​ 1,030,162 ​ ​ 3,325,729 ​ ​ 3,112,575 ​ ​ Income from derivatives, deferred revenue and other sources, net ​ ​ 11,695 ​ ​ 25,758 ​ ​ 162,100 ​ ​ 44,270 ​ ​ Total revenue ​ $ 1,126,176 ​ ​ 1,055,920 ​ ​ 3,487,829 ​ ​ 3,156,845 ​ ​

Equity Method Investment (Table

Equity Method Investment (Tables)	9 Months Ended
	Sep. 30, 2024
Antero Midstream Corporation
Equity Method Investment
Schedule of reconciliation of investments in unconsolidated affiliate	The following table sets forth a reconciliation of Antero’s investment in unconsolidated affiliate (in thousands): ​ ​ ​ ​ ​ Balance as of December 31, 2023 (1) ​ $ 222,255 ​ Additional investments (2) ​ ​ 1,936 ​ Equity in earnings of unconsolidated affiliate ​ ​ 69,862 ​ Dividends from unconsolidated affiliate ​ ​ (93,883) ​ Elimination of intercompany profit ​ ​ 26,690 ​ Balance as of September 30, 2024 (1) ​ $ 226,860 ​ (1) The fair value of the Company’s investment in Antero Midstream as of December 31, 2023 and September 30, 2024 was $ 1.7 billion and $ 2.1 billion, respectively, based on the quoted market share price of Antero Midstream. (2) During the three months ended September 30, 2024, the Company received 0.1 million additional shares of Antero Midstream common stock as part of a judgment in a legal proceeding with an unaffiliated third-party.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ ​ 2023 2024 ​ Capital expenditures ​ $ 38,848 ​ 32,764 ​ Gathering, compression, processing and transportation expenses ​ ​ 160,758 ​ ​ 156,810 ​ Marketing expenses ​ ​ 36,428 ​ ​ 18,691 ​ Interest expense, net ​ 33,066 ​ 13,046 ​ Production and ad valorem taxes ​ ​ 51,516 ​ ​ 31,719 ​ General and administrative expense ​ ​ 35,641 ​ ​ 33,677 ​ Derivative settlements payable ​ ​ 1,037 ​ ​ 31 ​ Other ​ 24,046 ​ 29,321 ​ Total accrued liabilities ​ $ 381,340 ​ 316,059 ​ ​

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Long-Term Debt
Schedule of long-term debt	Long-term debt consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ ​ 2023 2024 ​ Credit Facility (a) ​ $ 417,200 ​ ​ 526,700 ​ 8.375% senior notes due 2026 (b) ​ ​ 96,870 ​ ​ 96,870 ​ 7.625% senior notes due 2029 (c) ​ ​ 407,115 ​ ​ 407,115 ​ 5.375% senior notes due 2030 (d) ​ ​ 600,000 ​ ​ 600,000 ​ 4.25% convertible senior notes due 2026 (e) ​ ​ 26,386 ​ ​ — ​ Total principal ​ ​ 1,547,571 ​ ​ 1,630,685 ​ Unamortized debt issuance costs ​ ​ (9,975) ​ ​ (8,369) ​ Long-term debt ​ $ 1,537,596 ​ ​ 1,622,316 ​

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2024
Asset Retirement Obligations
Schedule of reconciliation of asset retirement obligations	The following table presents a reconciliation of the Company’s asset retirement obligations (in thousands): ​ ​ ​ ​ ​ Asset retirement obligations—December 31, 2023 $ 59,214 ​ Obligations incurred ​ ​ 754 ​ Accretion expense ​ ​ 2,554 ​ Settlement of obligations ​ ​ (3,171) ​ Revisions to prior estimates ​ ​ (3,972) ​ Asset retirement obligations—September 30, 2024 ​ $ 55,379 ​

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Equity-Based Compensation
Schedule of equity-based compensation expense	The Company’s equity-based compensation expense, by type of award, is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2023 ​ 2024 2023 ​ 2024 ​ RSU awards ​ $ 8,286 ​ ​ 11,499 ​ ​ 24,268 ​ ​ 31,908 ​ PSU awards ​ ​ 9,796 ​ ​ 4,190 ​ ​ 19,643 ​ ​ 16,257 ​ Converted AM RSU Awards (1) ​ ​ — ​ ​ — ​ ​ 1 ​ ​ — ​ Equity awards issued to directors ​ ​ 376 ​ ​ 376 ​ ​ 1,076 ​ ​ 1,128 ​ Total expense ​ $ 18,458 ​ ​ 16,065 ​ ​ 44,988 ​ ​ 49,293 ​ (1) Antero Resources recognized compensation expense for equity-based awards granted by Antero Midstream Partners LP’s (“Antero Midstream Partners”) under its equity compensation plans prior to March 12, 2019 (date of deconsolidation) because the awards under such plans were accounted for as if they were distributed by Antero Midstream Partners to Antero Resources. Antero Resources allocated a portion of equity-based compensation expense related to grants prior to March 12, 2019 to Antero Midstream Partners based on its proportionate share of Antero Resources’ labor costs. As of March 31, 2023, all such awards were fully vested, and there is no remaining unamortized expense attributable to these awards after such date . ​
Summary of RSU award activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value Total awarded and unvested—December 31, 2023 ​ 3,521,050 ​ $ 22.40 ​ Granted ​ 1,404,041 ​ ​ 26.52 ​ Vested ​ (1,588,616) ​ ​ 17.73 ​ Forfeited ​ (85,114) ​ ​ 26.01 ​ Total awarded and unvested—September 30, 2024 ​ 3,251,361 ​ $ 26.36 ​
Schedule of weighted average fair value assumptions used for PSUs granted	The following table presents the assumptions used in the Monte Carlo valuation model and the grant date fair value information for the 2024 Absolute TSR PSUs: ​ ​ ​ ​ ​ ​ Dividend yield ​ ​ — % ​ Volatility ​ ​ 55 % ​ Risk-free interest rate ​ ​ 4.23 % ​ Weighted average fair value of awards granted ​ $ 32.29 ​ ​
Summary of PSU award activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value Total awarded and unvested—December 31, 2023 ​ 1,412,191 ​ $ 29.54 ​ Granted ​ 354,016 ​ ​ 29.39 ​ Vested (1) ​ (414,912) ​ ​ 10.76 ​ Total awarded and unvested—September 30, 2024 ​ 1,351,295 ​ $ 35.27 ​ (1) During the nine months ended September 30, 2024, the PSUs granted in 2021 that were based on absolute TSR and Net Debt to EBITDAX met the performance criteria to achieve vesting at 150% and 200% of target, respectively, and converted into approximately 0.7 million shares of the Company’s common stock.
Summary of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ Number ​ Exercise ​ Contractual ​ Value ​ ​ of Options Price Life (in thousands) (1) ​ Outstanding—December 31, 2023 ​ 258,696 ​ $ 50.04 ​ 1.3 ​ $ — ​ Expired ​ (1,667) ​ ​ 50.00 ​ — ​ ​ — ​ Outstanding—September 30, 2024 ​ 257,029 ​ $ 50.04 ​ 0.5 ​ ​ — ​ Vested—September 30, 2024 ​ 257,029 ​ $ 50.04 ​ 0.5 ​ $ — ​ Exercisable—September 30, 2024 ​ 257,029 ​ $ 50.04 ​ 0.5 ​ $ — ​ (1) Intrinsic values are based on the exercise price of the options and the closing price of Antero Resources’ common stock on the referenced dates .

Fair value (Tables)

Fair value (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value.
Schedule of fair value and carrying value of senior notes and 2026 Convertible Notes	The following table sets forth the fair value and carrying value of the senior notes and 2026 Convertible Notes (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, 2023 ​ September 30, 2024 ​ ​ Fair Carrying Fair Carrying ​ ​ ​ Value (1) ​ Value (2) ​ Value (1) ​ Value (2) ​ 2026 Notes ​ $ 99,534 ​ ​ 96,351 ​ ​ 99,166 ​ ​ 96,536 ​ 2029 Notes ​ ​ 417,781 ​ ​ 403,441 ​ ​ 418,066 ​ ​ 403,897 ​ 2030 Notes ​ ​ 573,720 ​ ​ 594,622 ​ ​ 591,000 ​ ​ 595,183 ​ 2026 Convertible Notes ​ ​ 138,337 ​ ​ 25,982 ​ ​ — ​ ​ — ​ Total ​ $ 1,229,372 ​ ​ 1,120,396 ​ ​ 1,108,232 ​ ​ 1,095,616 ​ (1) Fair values are based on Level 2 market data inputs. (2) Carrying values are presented net of unamortized debt issuance costs. ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule of fixed price swap positions excluding Martica	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Commodity / Settlement Period Index Contracted Volume Price Propane ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ Mont Belvieu Propane-OPIS TET ​ 10,000 Bbl/day ​ $ 33.67 /Bbl ​
Schedule of call option and embedded put option arrangements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Embedded ​ ​ ​ ​ ​ ​ ​ ​ Call Option ​ Put Option ​ Commodity / Settlement Period Index Contracted Volume Strike Price Strike Price Natural Gas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ Henry Hub ​ 53,000 MMBtu/day ​ $ 2.477 /MMBtu ​ $ 2.477 /MMBtu ​ January-December 2025 ​ Henry Hub ​ 44,000 MMBtu/day ​ ​ 2.564 /MMBtu ​ ​ 2.564 /MMBtu ​ January-December 2026 ​ Henry Hub ​ 32,000 MMBtu/day ​ ​ 2.629 /MMBtu ​ ​ 2.629 /MMBtu ​
Schedule of natural gas basis swap positions which settle on pricing index to basis differential of NYMEX to TCO	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Commodity / Settlement Period ​ Index to Basis Differential Contracted Volume Hedged Differential ​ Natural Gas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ NYMEX to TCO ​ 50,000 MMBtu/day ​ $ 0.530 /MMBtu ​
Summary of the fair values of derivative instruments, which are not designated as hedges for accounting purposes	The table below presents a summary of the fair values of the Company’s derivative instruments and where such values are recorded in the condensed consolidated balance sheets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ Balance Sheet Location December 31, 2023 ​ September 30, 2024 ​ Asset derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current ​ Derivative instruments ​ $ — ​ ​ 3,040 ​ Embedded derivatives—current ​ Derivative instruments ​ ​ 5,175 ​ ​ 1,666 ​ Embedded derivatives—noncurrent ​ Derivative instruments ​ ​ 5,570 ​ ​ 2,507 ​ Total asset derivatives (1) ​ ​ ​ ​ 10,745 ​ ​ 7,213 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability derivatives not designated as hedges for accounting purposes: ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity derivatives—current (2) ​ Derivative instruments ​ ​ 15,236 ​ ​ 15,989 ​ Commodity derivatives—noncurrent (2) ​ Derivative instruments ​ ​ 32,764 ​ ​ 17,780 ​ Total liability derivatives (1) ​ ​ ​ ​ 48,000 ​ ​ 33,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net derivatives liability (1) ​ ​ ​ $ (37,255) ​ ​ (26,556) ​ (1) The fair value of derivative instruments was determined using Level 2 inputs. (2) As of December 31, 2023, approximately $5 million of commodity derivative liabilities, including $3 million of current commodity derivatives and $2 million of noncurrent commodity derivatives, are attributable to the Company’s consolidated VIE, Martica. As of September 30, 2024, $3 million of current commodity derivative liabilities are attributable to the Company’s 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 sets forth 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 condensed consolidated balance sheets as of the dates presented, all at fair value (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, 2023 ​ September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Net Amounts of ​ ​ ​ ​ ​ Net Amounts of ​ ​ ​ Gross ​ Gross ​ Assets ​ Gross ​ Gross ​ Assets ​ ​ ​ Amounts ​ Amounts Offset ​ (Liabilities) on ​ Amounts ​ Amounts Offset ​ (Liabilities) on ​ ​ Recognized Recognized Balance Sheet Recognized Recognized Balance Sheet ​ Commodity derivative assets ​ $ 406 ​ ​ (406) ​ ​ — ​ ​ 3,048 ​ ​ (8) ​ ​ 3,040 ​ Embedded derivative assets ​ ​ 10,745 ​ ​ — ​ ​ 10,745 ​ ​ 4,173 ​ ​ — ​ ​ 4,173 ​ Commodity derivative liabilities ​ ​ (48,406) ​ ​ 406 ​ ​ (48,000) ​ ​ (33,777) ​ ​ 8 ​ ​ (33,769) ​
Summary of derivative fair value gains (losses)	The following table sets forth a summary of derivative fair value gains and losses and where such values are recorded in the unaudited condensed consolidated statements of operations and comprehensive income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Statement of ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ Operations ​ September 30, ​ September 30, ​ ​ Location ​ 2023 ​ 2024 ​ 2023 ​ 2024 ​ Commodity derivative fair value gains (1) ​ Revenue ​ $ 5,290 ​ ​ 18,004 ​ ​ 138,602 ​ ​ 22,726 ​ Embedded derivative fair value gains (losses) (1) ​ Revenue ​ ​ (1,842) ​ ​ 364 ​ ​ (678) ​ ​ (497) ​ (1) The fair value of derivative instruments was determined using Level 2 inputs .
VIE, Martica
Schedule of outstanding commodity derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Commodity / Settlement Period Index Contracted Volume Price ​ Natural Gas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ Henry Hub ​ 22,047 MMBtu/day ​ $ 2.33 /MMBtu ​ January-March 2025 ​ Henry Hub ​ 18,021 MMBtu/day ​ ​ 2.53 /MMBtu ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October-December 2024 ​ West Texas Intermediate ​ 38 Bbl/day ​ $ 44.02 /Bbl ​ January-March 2025 ​ West Texas Intermediate ​ 39 Bbl/day ​ ​ 45.06 /Bbl ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases
Summary of supplemental balance sheet information related to leases	The Company’s lease assets and liabilities consisted of the following items (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ ​ ​ December 31, ​ September 30, ​ Leases Balance Sheet Classification 2023 2024 ​ Operating Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing plants ​ Operating lease right-of-use assets ​ $ 1,611,903 ​ ​ 1,425,273 ​ Drilling rigs and completion services ​ Operating lease right-of-use assets ​ ​ 32,187 ​ ​ 9,005 ​ Gas gathering lines and compressor stations (1) ​ Operating lease right-of-use assets ​ ​ 1,283,668 ​ ​ 1,189,000 ​ Office space ​ Operating lease right-of-use assets ​ ​ 37,706 ​ ​ 34,537 ​ Office, field and other equipment ​ Operating lease right-of-use assets ​ ​ 416 ​ ​ 473 ​ Total operating lease right-of-use assets ​ ​ ​ $ 2,965,880 ​ ​ 2,658,288 ​ Operating lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term operating lease liabilities ​ Short-term lease liabilities ​ $ 538,954 ​ ​ 504,419 ​ Long-term operating lease liabilities ​ Long-term lease liabilities ​ ​ 2,425,785 ​ ​ 2,146,881 ​ Total operating lease liabilities ​ ​ ​ $ 2,964,739 ​ ​ 2,651,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease right-of-use assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Vehicles ​ Other property and equipment ​ $ 3,771 ​ ​ 2,960 ​ Total finance lease right-of-use assets (2) ​ ​ ​ $ 3,771 ​ ​ 2,960 ​ Finance lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term finance lease liabilities ​ Short-term lease liabilities ​ $ 1,106 ​ ​ 1,233 ​ Long-term finance lease liabilities ​ Long-term lease liabilities ​ ​ 2,665 ​ ​ 1,727 ​ Total finance lease liabilities ​ ​ ​ $ 3,771 ​ ​ 2,960 ​ (1) Gas gathering lines and compressor stations includes $1.3 billion and $1.2 billion related to Antero Midstream as of December 31, 2023 and September 30, 2024, respectively. See “—Related party lease disclosure” for additional discussion. (2) Financing lease assets are recorded net of accumulated amortization of $1 million and $2 million as of December 31, 2023 and September 30, 2024, respectively .
Summary of costs associated with operating leases and finance leases	Costs associated with operating and finance leases were included in the unaudited condensed consolidated statement of operations and comprehensive income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ Cost Classification Location 2023 2024 2023 2024 ​ Operating lease cost ​ Statement of operations ​ Gathering, compression, processing and transportation ​ $ 418,005 ​ ​ 435,308 ​ ​ 1,206,733 ​ ​ 1,283,302 ​ Operating lease cost ​ Statement of operations ​ General and administrative ​ ​ 3,105 ​ ​ 3,164 ​ ​ 9,072 ​ ​ 9,233 ​ Operating lease cost ​ Statement of operations ​ Contract termination, loss contingency and settlements ​ ​ 297 ​ ​ — ​ ​ 4,227 ​ ​ — ​ Operating lease cost ​ Statement of operations ​ Lease operating ​ ​ 21 ​ ​ 28 ​ ​ 63 ​ ​ 76 ​ Operating lease cost ​ Balance sheet ​ Proved properties (1) ​ ​ 40,543 ​ ​ 30,864 ​ ​ 111,915 ​ ​ 92,990 ​ Total operating lease cost ​ ​ ​ ​ ​ $ 461,971 ​ ​ 469,364 ​ ​ 1,332,010 ​ ​ 1,385,601 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Statement of operations ​ Depletion, depreciation and amortization ​ $ 464 ​ ​ 405 ​ ​ 1,102 ​ ​ 1,253 ​ Interest on lease liabilities ​ Statement of operations ​ Interest expense ​ ​ 165 ​ ​ 125 ​ ​ 441 ​ ​ 410 ​ Total finance lease cost ​ ​ ​ ​ ​ $ 629 ​ ​ 530 ​ ​ 1,543 ​ ​ 1,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term lease payments ​ ​ ​ ​ ​ $ 31,324 ​ ​ 26,636 ​ ​ 103,732 ​ ​ 84,307 ​ (1) Capitalized costs related to drilling and completion activities.
Summary of supplemental cash flow information related to leases	The following table presents the Company’s supplemental cash flow information related to leases (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ 2023 2024 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 1,023,385 ​ ​ 1,098,799 ​ Operating cash flows from finance leases ​ ​ 441 ​ ​ 410 ​ Investing cash flows from operating leases ​ ​ 95,480 ​ ​ 78,275 ​ Financing cash flows from finance leases ​ ​ 580 ​ ​ 811 ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncash activities: ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease obligations ​ $ 80,969 ​ ​ 97,720 ​ Increase (decrease) to existing right-of-use assets and lease obligations from operating lease modifications, net (1) ​ $ 12,640 ​ ​ (1,472) ​ (1) During the nine months ended September 30, 2023, the weighted average discount rate for remeasured operating leases increased from 5.1% as of December 31, 2022 to 5.8% as of September 30, 2023. During the nine months ended September 30, 2024, the weighted average discount rate for remeasured operating leases decreased from 6.5% as of December 31, 2023 to 6.0% as of September 30, 2024.
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, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Financing Leases ​ Total ​ Remainder of 2024 ​ $ 173,056 ​ ​ 407 ​ ​ 173,463 ​ 2025 ​ ​ 617,297 ​ ​ 1,585 ​ ​ 618,882 ​ 2026 ​ ​ 564,792 ​ ​ 1,230 ​ ​ 566,022 ​ 2027 ​ ​ 465,588 ​ ​ 197 ​ ​ 465,785 ​ 2028 ​ ​ 388,734 ​ ​ 23 ​ ​ 388,757 ​ Thereafter ​ ​ 943,071 ​ ​ 10 ​ ​ 943,081 ​ Total lease payments ​ ​ 3,152,538 ​ ​ 3,452 ​ ​ 3,155,990 ​ Less: imputed interest ​ ​ (501,238) ​ ​ (492) ​ ​ (501,730) ​ Total ​ $ 2,651,300 ​ ​ 2,960 ​ ​ 2,654,260 ​
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, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Financing Leases ​ Total ​ Remainder of 2024 ​ $ 173,056 ​ ​ 407 ​ ​ 173,463 ​ 2025 ​ ​ 617,297 ​ ​ 1,585 ​ ​ 618,882 ​ 2026 ​ ​ 564,792 ​ ​ 1,230 ​ ​ 566,022 ​ 2027 ​ ​ 465,588 ​ ​ 197 ​ ​ 465,785 ​ 2028 ​ ​ 388,734 ​ ​ 23 ​ ​ 388,757 ​ Thereafter ​ ​ 943,071 ​ ​ 10 ​ ​ 943,081 ​ Total lease payments ​ ​ 3,152,538 ​ ​ 3,452 ​ ​ 3,155,990 ​ Less: imputed interest ​ ​ (501,238) ​ ​ (492) ​ ​ (501,730) ​ Total ​ $ 2,651,300 ​ ​ 2,960 ​ ​ 2,654,260 ​
Summary of weighted-average remaining lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ September 30, 2024 ​ ​ ​ ​ Operating Leases ​ Finance Leases ​ Operating Leases ​ Finance Leases ​ ​ Weighted average remaining lease term ​ 6.5 years ​ 3.0 years ​ 6.2 years ​ 2.3 years ​ ​ Weighted average discount rate ​ 5.9 % 8.3 % 5.7 % 8.4 % ​

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments
Schedule of future minimum payments which include leases that have remaining lease terms in excess of one year	The following table sets forth a schedule of future minimum payments for the Company’s contractual obligations, which include leases that have a lease term in excess of one year as of September 30, 2024 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Processing, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Firm ​ Compression ​ Operating and ​ Imputed Interest ​ ​ ​ ​ ​ ​ ​ Transportation ​ and Water Service ​ Financing Leases ​ for Leases ​ Other ​ ​ ​ ​ (a) (b) (c) (c) (d) Total Remainder of 2024 ​ $ 298,885 ​ ​ 17,680 ​ ​ 136,145 ​ ​ 37,317 ​ ​ 3,038 ​ ​ 493,065 ​ 2025 ​ ​ 1,184,532 ​ ​ 59,178 ​ ​ 487,948 ​ ​ 130,935 ​ ​ 8,437 ​ ​ 1,871,030 ​ 2026 ​ ​ 1,182,065 ​ ​ 26,001 ​ ​ 462,483 ​ ​ 103,538 ​ ​ 3,976 ​ ​ 1,778,063 ​ 2027 ​ ​ 1,177,068 ​ ​ 24,712 ​ ​ 387,210 ​ ​ 78,575 ​ ​ 375 ​ ​ 1,667,940 ​ 2028 ​ ​ 1,118,610 ​ ​ 23,379 ​ ​ 330,913 ​ ​ 57,845 ​ ​ — ​ ​ 1,530,747 ​ Thereafter ​ ​ 4,439,689 ​ ​ 86,473 ​ ​ 849,561 ​ ​ 93,520 ​ ​ — ​ ​ 5,469,243 ​ Total ​ $ 9,400,849 ​ ​ 237,423 ​ ​ 2,654,260 ​ ​ 501,730 ​ ​ 15,826 ​ ​ 12,810,088 ​

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2024
Reportable Segments
Schedule of operating results and assets of reportable segments	The operating results and assets of the Company’s reportable segments were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 1,072,562 ​ ​ 53,068 ​ ​ 383 ​ ​ (383) ​ ​ 1,125,630 ​ Intersegment ​ ​ 546 ​ ​ — ​ ​ 263,456 ​ ​ (263,456) ​ ​ 546 ​ Total revenue ​ ​ 1,073,108 ​ ​ 53,068 ​ ​ 263,839 ​ ​ (263,839) ​ ​ 1,126,176 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 33,484 ​ ​ — ​ ​ — ​ ​ — ​ ​ 33,484 ​ Gathering, compression, processing, transportation and water handling ​ ​ 671,886 ​ ​ — ​ ​ 51,914 ​ ​ (51,914) ​ ​ 671,886 ​ General and administrative ​ ​ 58,425 ​ ​ — ​ ​ 17,633 ​ ​ (17,633) ​ ​ 58,425 ​ Depletion, depreciation and amortization ​ ​ 176,259 ​ ​ — ​ ​ 30,745 ​ ​ (30,745) ​ ​ 176,259 ​ Impairment of property and equipment ​ ​ 13,476 ​ ​ — ​ ​ — ​ ​ — ​ ​ 13,476 ​ Other ​ ​ 47,372 ​ ​ 69,542 ​ ​ 1,234 ​ ​ (1,234) ​ ​ 116,914 ​ Total operating expenses ​ ​ 1,000,902 ​ ​ 69,542 ​ ​ 101,526 ​ ​ (101,526) ​ ​ 1,070,444 ​ Operating income (loss) ​ $ 72,206 ​ ​ (16,474) ​ ​ 162,313 ​ ​ (162,313) ​ ​ 55,732 ​ Equity in earnings of unconsolidated affiliates ​ $ 22,207 ​ ​ — ​ ​ 27,397 ​ ​ (27,397) ​ ​ 22,207 ​ Capital expenditures for segment assets ​ $ 912,046 ​ ​ — ​ ​ 45,286 ​ ​ (45,286) ​ ​ 912,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total ​ Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 1,008,182 ​ ​ 47,160 ​ ​ 397 ​ ​ (397) ​ ​ 1,055,342 ​ Intersegment ​ 578 ​ ​ — ​ ​ 269,473 ​ ​ (269,473) ​ ​ 578 ​ Total revenue ​ ​ 1,008,760 ​ ​ 47,160 ​ ​ 269,870 ​ ​ (269,870) ​ ​ 1,055,920 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 29,597 ​ ​ — ​ ​ — ​ ​ — ​ ​ 29,597 ​ Gathering, compression, processing, transportation and water handling ​ ​ 685,183 ​ ​ — ​ ​ 51,724 ​ ​ (51,724) ​ ​ 685,183 ​ General and administrative ​ ​ 54,627 ​ ​ — ​ ​ 22,872 ​ ​ (22,872) ​ ​ 54,627 ​ Depletion, depreciation and amortization ​ ​ 170,197 ​ ​ — ​ ​ 32,534 ​ ​ (32,534) ​ ​ 170,197 ​ Impairment of property and equipment ​ ​ 13,455 ​ ​ — ​ ​ 332 ​ ​ (332) ​ ​ 13,455 ​ Other ​ ​ 46,620 ​ ​ 62,144 ​ ​ (19) ​ ​ 19 ​ ​ 108,764 ​ Total operating expenses ​ ​ 999,679 ​ ​ 62,144 ​ ​ 107,443 ​ ​ (107,443) ​ ​ 1,061,823 ​ Operating income (loss) ​ $ 9,081 ​ ​ (14,984) ​ ​ 162,427 ​ ​ (162,427) ​ ​ (5,903) ​ Equity in earnings of unconsolidated affiliates ​ $ 25,634 ​ ​ — ​ ​ 27,668 ​ ​ (27,668) ​ ​ 25,634 ​ Capital expenditures for segment assets ​ $ 173,630 ​ ​ — ​ ​ 55,535 ​ ​ (55,535) ​ ​ 173,630 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 3,331,130 ​ ​ 155,390 ​ ​ 929 ​ ​ (929) ​ ​ 3,486,520 ​ Intersegment ​ 1,309 ​ ​ — ​ ​ 780,672 ​ ​ (780,672) ​ ​ 1,309 ​ Total revenue ​ ​ 3,332,439 ​ ​ 155,390 ​ ​ 781,601 ​ ​ (781,601) ​ ​ 3,487,829 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 91,553 ​ ​ — ​ ​ — ​ ​ — ​ ​ 91,553 ​ Gathering, compression, processing, transportation and water handling ​ ​ 1,981,033 ​ ​ — ​ ​ 162,382 ​ ​ (162,382) ​ ​ 1,981,033 ​ General and administrative ​ ​ 169,587 ​ ​ — ​ ​ 53,142 ​ ​ (53,142) ​ ​ 169,587 ​ Depletion, depreciation and amortization ​ ​ 515,247 ​ ​ — ​ ​ 101,174 ​ ​ (101,174) ​ ​ 515,247 ​ Impairment of property and equipment ​ ​ 44,746 ​ ​ — ​ ​ — ​ ​ — ​ ​ 44,746 ​ Other ​ ​ 146,536 ​ ​ 240,841 ​ ​ 8,722 ​ ​ (8,722) ​ ​ 387,377 ​ Total operating expenses ​ ​ 2,948,702 ​ ​ 240,841 ​ ​ 325,420 ​ ​ (325,420) ​ ​ 3,189,543 ​ Operating income (loss) ​ $ 383,737 ​ ​ (85,451) ​ ​ 456,181 ​ ​ (456,181) ​ ​ 298,286 ​ Equity in earnings of unconsolidated affiliates ​ $ 58,986 ​ ​ — ​ ​ 77,825 ​ ​ (77,825) ​ ​ 58,986 ​ Capital expenditures for segment assets ​ $ 912,046 ​ ​ — ​ ​ 130,025 ​ ​ (130,025) ​ ​ 912,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total Sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third-party ​ $ 3,009,995 ​ ​ 145,098 ​ ​ 1,482 ​ ​ (1,482) ​ ​ 3,155,093 ​ Intersegment ​ 1,752 ​ ​ — ​ ​ 817,234 ​ ​ (817,234) ​ ​ 1,752 ​ Total revenue ​ ​ 3,011,747 ​ ​ 145,098 ​ ​ 818,716 ​ ​ (818,716) ​ ​ 3,156,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease operating ​ ​ 88,477 ​ ​ — ​ ​ — ​ ​ — ​ ​ 88,477 ​ Gathering, compression, processing, transportation and water handling ​ ​ 2,020,906 ​ ​ — ​ ​ 162,051 ​ ​ (162,051) ​ ​ 2,020,906 ​ General and administrative ​ ​ 169,917 ​ ​ — ​ ​ 65,312 ​ ​ (65,312) ​ ​ 169,917 ​ Depletion, depreciation and amortization ​ ​ 513,787 ​ ​ — ​ ​ 107,205 ​ ​ (107,205) ​ ​ 513,787 ​ Impairment of property and equipment ​ ​ 18,958 ​ ​ — ​ ​ 332 ​ ​ (332) ​ ​ 18,958 ​ Other ​ ​ 154,768 ​ ​ 192,764 ​ ​ 2,385 ​ ​ (2,385) ​ ​ 347,532 ​ Total operating expenses ​ ​ 2,966,813 ​ ​ 192,764 ​ ​ 337,285 ​ ​ (337,285) ​ ​ 3,159,577 ​ Operating income (loss) ​ $ 44,934 ​ ​ (47,666) ​ ​ 481,431 ​ ​ (481,431) ​ ​ (2,732) ​ Equity in earnings of unconsolidated affiliates ​ $ 69,862 ​ ​ — ​ ​ 82,795 ​ ​ (82,795) ​ ​ 69,862 ​ Capital expenditures for segment assets ​ $ 588,464 ​ ​ — ​ ​ 134,007 ​ ​ (134,007) ​ ​ 588,464 ​ ​ ​ The summarized assets of the Company’s reportable segments are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total ​ Investments in unconsolidated affiliates ​ $ 222,255 ​ ​ — ​ ​ 626,650 ​ ​ (626,650) ​ ​ 222,255 ​ Total assets ​ ​ 13,602,297 ​ ​ 17,117 ​ ​ 5,737,618 ​ ​ (5,737,618) ​ ​ 13,619,414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ As of September 30, 2024 ​ ​ ​ ​ ​ ​ ​ Equity Method ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Investment in ​ Elimination of ​ ​ ​ ​ ​ and ​ ​ ​ Antero ​ Unconsolidated ​ Consolidated ​ ​ Production Marketing Midstream Affiliate Total Investments in unconsolidated affiliates ​ $ 226,860 ​ ​ — ​ ​ 609,427 ​ ​ (609,427) ​ ​ 226,860 ​ Total assets ​ ​ 13,211,758 ​ ​ 11,860 ​ ​ 5,777,451 ​ ​ (5,777,451) ​ ​ 13,223,618 ​ ​

Subsidiary Guarantors (Tables)

Subsidiary Guarantors (Tables)	9 Months Ended
	Sep. 30, 2024
Subsidiary Guarantors
Schedule of summarized financial information of Antero, as parent, and its guarantor subsidiaries	​ ​ ​ ​ ​ Balance Sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ Current assets ​ $ 453,581 ​ Noncurrent assets ​ ​ 12,562,439 ​ Total assets ​ $ 13,016,020 ​ ​ ​ ​ ​ ​ Accounts payable, related parties ​ $ 86,284 ​ Other current liabilities ​ ​ 1,360,102 ​ Total current liabilities ​ ​ 1,446,386 ​ Noncurrent liabilities ​ ​ 4,951,464 ​ Total liabilities ​ $ 6,397,850 ​ ​

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts Payable
Basis of Presentation
Book overdrafts	$ 6	$ 11
Revenue distributions payable
Basis of Presentation
Book overdrafts	$ 18	$ 19

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Reconciliation of Net Income (loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Summary of Significant Accounting Policies
Net income (loss) attributable to Antero Resources Corporation-common shareholders	$ (20,444)	$ 17,808	$ (49,762)	$ 148,155
Add: Interest expense for 2026 Convertible Notes		470		1,555
Less: Tax-effect of interest expense for 2026 Convertible Notes		(101)		(334)
Net income (loss) attributable to Antero Resources Corporation-common shareholders and assumed conversions	$ (20,444)	$ 18,177	$ (49,762)	$ 149,376
Net income (loss) per common share-basic (in dollars per share)	$ (0.07)	$ 0.06	$ (0.16)	$ 0.50
Net income (loss) per common share-diluted (in dollars per share)	$ (0.07)	$ 0.06	$ (0.16)	$ 0.48
Weighted average common shares outstanding-basic (in shares)	311,025	300,141	308,932	298,461
Weighted average common shares outstanding-diluted (in shares)	311,025	311,534	308,932	310,958

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Reconciliation of Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income per common share
Basic weighted average number of common shares outstanding	311,025	300,141	308,932	298,461
Diluted weighted average number of common shares outstanding	311,025	311,534	308,932	310,958
RSUs
Income per common share
Add: Dilutive effect		1,213		1,419
Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common share	3,274	1,128	3,526	1,267
PSUs
Income per common share
Add: Dilutive effect		1,105		1,080
Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common share	1,675	100	1,790	199
Stock options
Income per common share
Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common share	257	323	258	324
4.25% convertible senior notes due 2026
Income per common share
Add: Dilutive effect		9,075		9,998
Weighted average number of outstanding securities excluded from calculation of diluted net income (loss) per common share			1,615

Transactions (Details)

Transactions (Details) ft in Thousands, $ in Millions			3 Months Ended				9 Months Ended		12 Months Ended
	Feb. 17, 2021 tranche	Jun. 15, 2020 USD ($) ft	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2023
ORRI
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%
Portion Of overriding royalty interest remaining with Martica											0.48%
Portion of Incremental Override remaining with Martica											24%
Percentage of distributions received		85%
Percentage of distributions received on Incremental Override		76%
Gain (loss) on interests conveyed			$ 0		$ 0		$ 0	$ 0
ORRI | Sixth Street
Transactions
Cash contribution		$ 300
Additional contribution upon achievement of production target		$ 102
Cash distributions received									$ 102	$ 102
Internal rate of return threshold		13%
Cash on cash return threshold		150%
Percentage of distributions received on Incremental Override		24%
Drilling Partnership | QL
Transactions
Number of tranches | tranche	4
Percent of total development capital spending funded by drilling partner				15%		15%			20%
Percent of total development capital spending in the next year to be funded by drilling partner				20%
Amount of carry received from drilling partner.				$ 29		$ 29

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Total revenue from contracts with customers	$ 1,030,162	$ 1,114,481	$ 3,112,575	$ 3,325,729
Income from derivatives, deferred revenue and other sources, net	25,758	11,695	44,270	162,100
Total revenue	1,055,920	1,126,176	3,156,845	3,487,829
Natural gas sales
Disaggregation of Revenue
Total revenue	425,802	516,214	1,274,503	1,621,659
Oil sales
Disaggregation of Revenue
Total revenue	52,724	62,629	180,899	172,402
Marketing
Disaggregation of Revenue
Total revenue	47,160	53,068	145,098	155,390
Exploration and production | Natural gas sales
Disaggregation of Revenue
Total revenue from contracts with customers	425,802	516,214	1,274,503	1,621,659
Exploration and production | Natural gas liquids sales (ethane)
Disaggregation of Revenue
Total revenue from contracts with customers	58,483	78,551	187,277	200,764
Exploration and production | Natural gas liquids sales (C3+ NGLs)
Disaggregation of Revenue
Total revenue from contracts with customers	445,717	404,019	1,323,976	1,174,974
Exploration and production | Oil sales
Disaggregation of Revenue
Total revenue from contracts with customers	52,724	62,629	180,899	172,402
Exploration and production | Other
Disaggregation of Revenue
Total revenue from contracts with customers	276		822	540
Marketing | Marketing
Disaggregation of Revenue
Total revenue from contracts with customers	$ 47,160	$ 53,068	$ 145,098	$ 155,390

Revenue - Transaction Price All

Revenue - Transaction Price Allocation and Contract Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Revenue
Original expected duration	true
Receivables from contracts with customers	$ 319,177	$ 400,805

Equity Method Investment (Detai

Equity Method Investment (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Investments in unconsolidated affiliates
Equity in earnings of unconsolidated affiliate	$ 25,634	$ 22,207	$ 69,862	$ 58,986
Dividends from unconsolidated affiliate			$ (93,883)	$ (93,854)
Antero Midstream Corporation
Equity Method Investment
Ownership percentage	28.90%		28.90%		29%
Investments in unconsolidated affiliates
Balance at beginning of period			$ 222,255
Additional Investments			1,936
Equity in earnings of unconsolidated affiliate			69,862
Dividends from unconsolidated affiliate			(93,883)
Elimination of intercompany profit			26,690
Balance at end of period	$ 226,860		226,860
Fair value of investment	$ 2,100,000		$ 2,100,000		$ 1,700,000
Additional shares awarded	0.1

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accrued Liabilities
Capital expenditures	$ 32,764	$ 38,848
Gathering, compression, processing and transportation expenses	156,810	160,758
Marketing expenses	18,691	36,428
Interest expense, net	13,046	33,066
Production and ad valorem taxes	31,719	51,516
General and administrative expense	33,677	35,641
Derivative settlements payable	31	1,037
Other	29,321	24,046
Total accrued liabilities	$ 316,059	$ 381,340

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands									3 Months Ended				9 Months Ended		12 Months Ended	27 Months Ended
	Jul. 30, 2024 USD ($)	Mar. 11, 2024 USD ($)	Oct. 26, 2021	Jun. 01, 2021 USD ($)	Jan. 26, 2021 USD ($)	Jan. 04, 2021 USD ($)	Sep. 02, 2020 USD ($)	Aug. 21, 2020 USD ($) shares	Sep. 30, 2024 USD ($) item	Mar. 31, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) item	Sep. 30, 2023 USD ($) shares	Dec. 31, 2021 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Long-Term Debt
Total principal									$ 1,630,685				$ 1,630,685				$ 1,547,571
Unamortized debt issuance costs									(8,369)				(8,369)				(9,975)
Long-term debt									1,622,316				1,622,316				1,537,596
Payments of deferred financing costs													6,064
Aggregate principal amount converted										$ 26,051	$ 7	$ 17,172
Gain (loss) on extinguishment of debt repurchased									(528)				(528)
Credit Facility
Long-Term Debt
Credit facility									526,700				526,700				417,200
Senior Unsecured Revolving Credit Facility
Long-Term Debt
Credit facility									527,000				527,000
Lender commitments									1,650,000				1,650,000
Available borrowing capacity									$ 1,000				$ 1,000
Number of extensions | item									2				2
Renewal term													1 year
Potential increase in lender commitments	$ 500,000
Total indebtedness to capitalization ratio	65%
Weighted average interest rate (as a percent)									6.47%				6.47%
Outstanding letters of credit									$ 120,000				$ 120,000
Senior Unsecured Revolving Credit Facility | Minimum
Long-Term Debt
Credit ratings (as a percent)	1.125%
New credit facility, commitment fees (as a percent)	0.125%
Senior Unsecured Revolving Credit Facility | Maximum
Long-Term Debt
Credit ratings (as a percent)	2%
New credit facility, commitment fees (as a percent)	0.30%
Senior Secured Revolving Credit Facility
Long-Term Debt
Credit facility																	417,000
Current borrowing base																	3,500,000
Lender commitments																	$ 1,600,000
Weighted average interest rate (as a percent)																	7.71%
Outstanding letters of credit																	$ 501,000
Senior Secured Revolving Credit Facility | Not Investment Grade Period
Long-Term Debt
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]			us-gaap:SecuredOvernightFinancingRateSofrMember
Senior Secured Revolving Credit Facility | Investment Grade Period
Long-Term Debt
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]			us-gaap:SecuredOvernightFinancingRateSofrMember
Senior Secured Revolving Credit Facility | Minimum
Long-Term Debt
Commitment fees on the unused portion during any period that is not an Investment Grade Period (as a percent)			0.375%
Senior Secured Revolving Credit Facility | Minimum | Not Investment Grade Period
Long-Term Debt
Basis spread on variable rate (as a percent)			1.75%
Senior Secured Revolving Credit Facility | Minimum | Investment Grade Period
Long-Term Debt
Basis spread on variable rate (as a percent)			1.25%
Senior Secured Revolving Credit Facility | Maximum
Long-Term Debt
Commitment fees on the unused portion during any period that is not an Investment Grade Period (as a percent)			0.50%
Senior Secured Revolving Credit Facility | Maximum | Not Investment Grade Period
Long-Term Debt
Basis spread on variable rate (as a percent)			2.75%
Senior Secured Revolving Credit Facility | Maximum | Investment Grade Period
Long-Term Debt
Basis spread on variable rate (as a percent)			1.875%
8.375% Senior Notes Due 2026
Long-Term Debt
Senior notes						$ 500,000			$ 96,870				$ 96,870				$ 96,870
Interest rate (as a percent)						8.375%			8.375%				8.375%				8.375%
Issue price as percentage of par value						100%
Amount of debt repurchased																		$ 403,000
Redemption price of the debt instrument in the event of change of control (as a percent)						101%
8.375% Senior Notes Due 2026 | On or after January 15, 2024
Long-Term Debt
Redemption price						104.188%
8.375% Senior Notes Due 2026 | On or after January 15, 2026
Long-Term Debt
Redemption price						100%
7.625% Senior Notes Due 2029
Long-Term Debt
Senior notes					$ 700,000				$ 407,115				$ 407,115				$ 407,115
Interest rate (as a percent)					7.625%				7.625%				7.625%				7.625%
Issue price as percentage of par value					100%
Amount of debt repurchased																		$ 293,000
Redemption price of the debt instrument in the event of change of control (as a percent)					101%
7.625% Senior Notes Due 2029 | On or after February 1, 2024
Long-Term Debt
Redemption price					103.813%
7.625% Senior Notes Due 2029 | On or after February 1, 2027
Long-Term Debt
Redemption price					100%
5.375% senior notes due 2030
Long-Term Debt
Senior notes				$ 600,000					$ 600,000				$ 600,000				$ 600,000
Interest rate (as a percent)				5.375%					5.375%				5.375%				5.375%
Issue price as percentage of par value				100%
Redemption price of the debt instrument in the event of change of control (as a percent)				101%
5.375% senior notes due 2030 | On or after March 1, 2025
Long-Term Debt
Redemption price				102.688%
5.375% senior notes due 2030 | On or after March 1, 2028
Long-Term Debt
Redemption price				100%
5.375% senior notes due 2030 | On or Before March 1, 2025
Long-Term Debt
Percentage of the principal amount of the debt instrument which the entity may redeem with the proceeds from certain equity offerings				35%
Redemption price of the debt instrument if redeemed with the proceeds of certain equity offerings (as a percent)				105.375%
5.375% senior notes due 2030 | Prior to March 1, 2025
Long-Term Debt
Redemption price				100%
4.25% convertible senior notes due 2026
Long-Term Debt
Convertible senior notes							$ 37,500	$ 250,000	$ 0				$ 0				$ 26,386
Interest rate (as a percent)								4.25%	4.25%				4.25%				4.25%
Issuance of convertible notes							278,500
Payments of deferred financing costs							$ 9,000
Amount of debt extinguished															$ 206,000
Amount of debt converted																$ 81,000
Redemption price		100%
Shares issued on conversion | shares								230.2026
Aggregate principal amount converted		$ 26,000								$ 26,000	$ 0			$ 9,000
Aggregate principal amount induced into conversion														$ 9,000
Shares issued to cover conversions (in shares) | shares										6,000,000				4,000,000
Cash inducement premium														$ 100

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Asset Retirement Obligations
Asset retirement obligations - beginning of period	$ 59,214
Obligations incurred	754
Accretion expense	2,554
Settlement of obligations	(3,171)	$ (633)
Revisions to prior estimates	(3,972)
Asset retirement obligations - end of period	$ 55,379

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 05, 2024	Jun. 04, 2024
Stock-based compensation expense
Equity based compensation expense recognized	$ 16,065	$ 18,458	$ 49,293	$ 44,988
AR LTIP
Stock-based compensation expense
Common stock reserved for awards						10,050,000
Amended AR LTIP
Stock-based compensation expense
Common stock reserved for awards					14,916,100
Number of shares available for future grant under the Plan	10,871,264		10,871,264
RSUs
Stock-based compensation expense
Equity based compensation expense recognized	$ 11,499	8,286	$ 31,908	24,268
PSUs
Stock-based compensation expense
Equity based compensation expense recognized	4,190	9,796	16,257	19,643
Converted AM RSU Awards
Stock-based compensation expense
Equity based compensation expense recognized				1
Equity awards issued to directors
Stock-based compensation expense
Equity based compensation expense recognized	$ 376	$ 376	$ 1,128	$ 1,076

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock and RSU Awards (Details) - RSUs $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Number of shares
Total awarded and unvested at the beginning of the period (in shares) | shares	3,521,050
Granted (in shares) | shares	1,404,041
Vested (in shares) | shares	(1,588,616)
Forfeited (in shares) | shares	(85,114)
Total awarded and unvested at the end of the period (in shares) | shares	3,251,361
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per share) | $ / shares	$ 22.40
Granted (in dollars per share) | $ / shares	26.52
Vested (in dollars per share) | $ / shares	17.73
Forfeited (in dollars per share) | $ / shares	26.01
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares	$ 26.36
Unamortized equity-based compensation expense | $	$ 60
Weighted average period for recognizing unrecognized stock-based compensation expense	1 year 9 months 18 days

Equity-Based Compensation - PSU

Equity-Based Compensation - PSU awards (Details) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended
	Mar. 31, 2024 period	Sep. 30, 2024 USD ($) $ / shares shares
PSUs
Stock-based compensation
Shares issued to cover conversions (in shares) | shares		700,000
Number of units
Total awarded and unvested at the beginning of the period (in shares) | shares		1,412,191
Granted (in shares) | shares		354,016
Vested (in shares) | shares		(414,912)
Total awarded and unvested at the end of the period (in shares) | shares		1,351,295
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per share) | $ / shares		$ 29.54
Granted (in dollars per share) | $ / shares		29.39
Vested (in dollars per share) | $ / shares		10.76
Total awarded and unvested at the end of the period (in dollars per share) | $ / shares		$ 35.27
Additional disclosures
Unamortized equity-based compensation expense | $		$ 17
Weighted average period for recognizing unrecognized stock-based compensation expense		1 year 4 months 24 days
PSU Awards Based on Absolute TSR
Weighted-average assumptions used to calculate fair value of stock options granted
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate		55%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		4.23%
Weighted average fair value of awards granted - Absolute TSR | $ / shares		$ 32.29
PSU Awards Based on Absolute TSR | One Year Period
Stock-based compensation
Service period	1 year
Number of performance periods | period	3
PSU Awards Based on Absolute TSR | Three Year Period
Stock-based compensation
Service period	3 years
Number of cumulative performance periods | period	1
2021 PSU Awards Based on Absolute TSR
Stock-based compensation
Vesting percentage achieved		150%
2024 PSU Awards Based on Absolute TSR | Minimum
Stock-based compensation
Number of PSUs that may vest, as a percent	0%
2024 PSU Awards Based on Absolute TSR | Maximum
Stock-based compensation
Number of PSUs that may vest, as a percent	200%
PSU Awards Based on Net Debt to EBITDAX
Stock-based compensation
Vesting percentage achieved		200%
2024 PSU Awards Based on Leverage Ratio
Stock-based compensation
Service period	1 year
Number of performance periods | period	3
2024 PSU Awards Based on Leverage Ratio | Minimum
Stock-based compensation
Number of PSUs that may vest, as a percent	0%
2024 PSU Awards Based on Leverage Ratio | Maximum
Stock-based compensation
Number of PSUs that may vest, as a percent	200%

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Stock options
Outstanding at the beginning of the period (in shares)	258,696
Expired (in shares)	(1,667)
Outstanding at the end of the period (in shares)	257,029	258,696
Vested (in shares)	257,029
Exercisable (in shares)	257,029
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 50.04
Expired (in dollars per share)	50
Outstanding at the end of the period (in dollars per share)	50.04	$ 50.04
Vested (in dollars per share)	50.04
Exercisable (in dollars per share)	$ 50.04
Weighted average remaining contractual life
Outstanding	6 months	1 year 3 months 18 days
Vested	6 months
Exercisable	6 months

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair value | Level 2 market data
Financial Instruments
Value	$ 1,108,232	$ 1,229,372
Fair value | Level 2 market data | 8.375% Senior Notes Due 2026
Financial Instruments
Value	99,166	99,534
Fair value | Level 2 market data | 7.625% Senior Notes Due 2029
Financial Instruments
Value	418,066	417,781
Fair value | Level 2 market data | 5.375% senior notes due 2030
Financial Instruments
Value	591,000	573,720
Fair value | Level 2 market data | 4.25% convertible senior notes due 2026
Financial Instruments
Value		138,337
Carrying value
Financial Instruments
Value	1,095,616	1,120,396
Carrying value | 8.375% Senior Notes Due 2026
Financial Instruments
Value	96,536	96,351
Carrying value | 7.625% Senior Notes Due 2029
Financial Instruments
Value	403,897	403,441
Carrying value | 5.375% senior notes due 2030
Financial Instruments
Value	$ 595,183	594,622
Carrying value | 4.25% convertible senior notes due 2026
Financial Instruments
Value		$ 25,982

Derivative Instruments - Commod

Derivative Instruments - Commodity derivatives (Details)	Sep. 30, 2024 MMBTU / d bbl / d $ / MMBTU $ / bbl
Natural gas | Henry Hub | October-December 2024
Derivative Instruments
Notional amount | MMBTU / d	53,000
Natural gas | Henry Hub | January-December 2025
Derivative Instruments
Notional amount | MMBTU / d	44,000
Natural gas | Henry Hub | January-December 2026
Derivative Instruments
Notional amount | MMBTU / d	32,000
Natural gas | NYMEX to TCO | October-December 2024
Derivative Instruments
Notional amount | MMBTU / d	50,000
Weighted average hedged differential	0.530
Propane | Mont Belvieu Propane OPIS TET | October-December 2024
Derivative Instruments
Notional amount | bbl / d	10,000
Weighted average index price | $ / bbl	33.67
Swaps | Natural gas | Henry Hub | October-December 2024 | VIE, Martica
Derivative Instruments
Notional amount | MMBTU / d	22,047
Weighted average index price	2.33
Swaps | Natural gas | Henry Hub | January-March 2025 | VIE, Martica
Derivative Instruments
Notional amount | MMBTU / d	18,021
Weighted average index price	2.53
Swaps | Oil | West Texas Intermediate | October-December 2024 | VIE, Martica
Derivative Instruments
Notional amount | bbl / d	38
Weighted average index price | $ / bbl	44.02
Swaps | Oil | West Texas Intermediate | January-March 2025 | VIE, Martica
Derivative Instruments
Notional amount | bbl / d	39
Weighted average index price | $ / bbl	45.06
Call option and embedded put option | Natural gas | Put option | Henry Hub | October-December 2024
Derivative Instruments
Strike price	2.477
Call option and embedded put option | Natural gas | Put option | Henry Hub | January-December 2025
Derivative Instruments
Strike price	2.564
Call option and embedded put option | Natural gas | Put option | Henry Hub | January-December 2026
Derivative Instruments
Strike price	2.629
Call option and embedded put option | Natural gas | Call Option | Henry Hub | October-December 2024
Derivative Instruments
Strike price	2.477
Call option and embedded put option | Natural gas | Call Option | Henry Hub | January-December 2025
Derivative Instruments
Strike price	2.564
Call option and embedded put option | Natural gas | Call Option | Henry Hub | January-December 2026
Derivative Instruments
Strike price	2.629

Derivative Instruments - Fair v

Derivative Instruments - Fair value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair value of derivative instruments
Current portion of fair value of derivative assets	$ 4,706	$ 5,175
Noncurrent portion of fair value of derivative assets	2,507	5,570
Current portion of fair value of derivative liabilities	15,989	15,236
Noncurrent portion of fair value of derivative liabilities	17,780	32,764
Derivatives not designated as hedges for accounting purposes
Fair value of derivative instruments
Total asset derivatives	7,213	10,745
Total liability derivatives	33,769	48,000
Net derivatives liability	(26,556)	(37,255)
Derivatives not designated as hedges for accounting purposes | Commodity derivatives
Fair value of derivative instruments
Current portion of fair value of derivative assets	3,040
Current portion of fair value of derivative liabilities	15,989	15,236
Noncurrent portion of fair value of derivative liabilities	17,780	32,764
Derivatives not designated as hedges for accounting purposes | Commodity derivatives | VIE, Martica
Fair value of derivative instruments
Current portion of fair value of derivative liabilities	3,000	3,000
Noncurrent portion of fair value of derivative liabilities		2,000
Total liability derivatives		5,000
Derivatives not designated as hedges for accounting purposes | Embedded derivatives
Fair value of derivative instruments
Current portion of fair value of derivative assets	1,666	5,175
Noncurrent portion of fair value of derivative assets	$ 2,507	$ 5,570

Derivative Instruments - Assets

Derivative Instruments - Assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commodity derivatives
Commodity derivative assets
Gross amounts on balance sheet	$ 3,048	$ 406
Gross amounts offset on balance sheet	(8)	(406)
Total asset derivatives	3,040
Commodity derivative liabilities
Gross amounts on balance sheet	(33,777)	(48,406)
Gross amounts offset on balance sheet	8	406
Total liability derivatives	(33,769)	(48,000)
Embedded derivatives
Commodity derivative assets
Gross amounts on balance sheet	4,173	10,745
Total asset derivatives	$ 4,173	$ 10,745

Derivative Instruments - Fair_2

Derivative Instruments - Fair value gains (losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Summary of realized and unrealized gains (losses) on derivative instruments
Derivative fair value gains (losses)			$ 22,229	$ 137,924
Loss on early settlement of natural gas swaption agreement				202,339
Commodity derivatives
Summary of realized and unrealized gains (losses) on derivative instruments
Loss on early settlement of natural gas swaption agreement				202,000
Commodity derivatives | Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Derivative fair value gains (losses)	$ 18,004	$ 5,290	22,726	138,602
Embedded derivatives | Revenue
Summary of realized and unrealized gains (losses) on derivative instruments
Derivative fair value gains (losses)	$ 364	$ (1,842)	$ (497)	$ (678)

Leases (Details)

Leases (Details)	9 Months Ended
	Sep. 30, 2024
Leases
Options to renew - Operating lease	true
Minimum
Leases
Renewal terms - Operating lease	1 year
Maximum
Leases
Renewal terms - Operating lease	20 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Lease Assets
Operating leases right-of-use assets	$ 2,658,288	$ 2,965,880
Short-term operating lease liabilities	$ 504,419	$ 538,954
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating And Finance Lease Liability Current	Operating And Finance Lease Liability Current
Long-term operating lease liabilities	$ 2,146,881	$ 2,425,785
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating And Finance Lease Liability Noncurrent	Operating And Finance Lease Liability Noncurrent
Total operating lease liabilities	$ 2,651,300	$ 2,964,739
Finance leases, right of use assets	$ 2,960	$ 3,771
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Other, Gross	Property, Plant and Equipment, Other, Gross
Short-term finance lease liabilities	$ 1,233	$ 1,106
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating And Finance Lease Liability Current	Operating And Finance Lease Liability Current
Long-term finance lease liabilities	$ 1,727	$ 2,665
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating And Finance Lease Liability Noncurrent	Operating And Finance Lease Liability Noncurrent
Total finance lease obligation	$ 2,960	$ 3,771
Finance leases, accumulated amortization	2,000	1,000
Vehicles
Lease Assets
Finance leases, right of use assets	$ 2,960	$ 3,771
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Other, Gross	Property, Plant and Equipment, Other, Gross
Office, field and other equipment
Lease Assets
Operating leases right-of-use assets	$ 473	$ 416
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating leases right-of-use assets	Operating leases right-of-use assets
Processing plants
Lease Assets
Operating leases right-of-use assets	$ 1,425,273	$ 1,611,903
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating leases right-of-use assets	Operating leases right-of-use assets
Drilling rigs and completion services
Lease Assets
Operating leases right-of-use assets	$ 9,005	$ 32,187
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating leases right-of-use assets	Operating leases right-of-use assets
Gas gathering lines and compressor stations
Lease Assets
Operating leases right-of-use assets	$ 1,189,000	$ 1,283,668
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating leases right-of-use assets	Operating leases right-of-use assets
Gas gathering lines and compressor stations | Antero Midstream Corporation
Lease Assets
Operating leases right-of-use assets	$ 1,200,000	$ 1,300,000
Office space
Lease Assets
Operating leases right-of-use assets	$ 34,537	$ 37,706
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating leases right-of-use assets	Operating leases right-of-use assets

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Leases
Total operating lease cost	$ 469,364	$ 461,971	$ 1,385,601	$ 1,332,010
Total finance lease cost	530	629	1,663	1,543
Short-term lease payments	$ 26,636	$ 31,324	84,307	103,732
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			1,098,799	1,023,385
Operating cash flows from finance leases			410	441
Investing cash flows from operating leases			78,275	95,480
Financing cash flows from finance leases			811	580
Right-of-use assets obtained in exchange for new operating lease obligations			97,720	80,969
Increase (decrease) to existing right-of-use assets and lease obligations from operating lease modifications, net			$ (1,472)	$ 12,640
Weighted average discount rate for remeasured operating leases (as a percent)	6%	5.80%	6%	5.80%	6.50%	5.10%
Gathering, compression, processing and transportation
Leases
Total operating lease cost	$ 435,308	$ 418,005	$ 1,283,302	$ 1,206,733
General and administrative
Leases
Total operating lease cost	3,164	3,105	9,233	9,072
Contract termination, loss contingency and settlements
Leases
Total operating lease cost		297		4,227
Lease operating
Leases
Total operating lease cost	28	21	76	63
Depletion, depreciation and amortization
Leases
Amortization of right-of-use assets	405	464	1,253	1,102
Interest expense
Leases
Interest on lease liabilities	125	165	410	441
Proved properties
Leases
Total operating lease cost	$ 30,864	$ 40,543	$ 92,990	$ 111,915

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Future minimum payments for operating lease liabilities
Remainder of 2024	$ 173,056
2025	617,297
2026	564,792
2027	465,588
2028	388,734
Thereafter	943,071
Total lease payments	3,152,538
Less: imputed interest	(501,238)
Total operating lease liabilities	2,651,300	$ 2,964,739
Future minimum payments for financing lease liabilities
Remainder of 2024	407
2025	1,585
2026	1,230
2027	197
2028	23
Thereafter	10
Total lease payments	3,452
Less: imputed interest	(492)
Total finance lease obligation	2,960	$ 3,771
Future minimum payments for total lease liabilities
Remainder of 2024	173,463
2025	618,882
2026	566,022
2027	465,785
2028	388,757
Thereafter	943,081
Total lease payments	3,155,990
Less: imputed interest	(501,730)
Total	$ 2,654,260

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Sep. 30, 2024	Dec. 31, 2023
Leases
Weighted-average remaining lease term: Operating lease	6 years 2 months 12 days	6 years 6 months
Weighted-average discount rate: Operating lease	5.70%	5.90%
Weighted-average remaining lease term: Finance lease	2 years 3 months 18 days	3 years
Weighted-average discount rate: Finance lease	8.40%	8.30%

Leases - Related Party Lease Di

Leases - Related Party Lease Disclosure (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) area	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) area	Sep. 30, 2023 USD ($)	Dec. 31, 2019 D	Dec. 31, 2023 USD ($)
Antero Midstream Corporation
Leases
Minimum volume commitments that require Antero to utilize or pay certain percentage of the capacity of new construction for high pressure lines (as a percent)					75%
Minimum volume commitments that require Antero to utilize or pay certain percentage of the capacity of new construction of compressor stations (as a percent)					70%
Term of lease					10 years
Notice period					180 days
Rebate received		$ 12,000		$ 36,000
Gathering and compression fees paid	$ 207,000	$ 189,000	$ 608,000	$ 550,000
Percentage of rate of return					13%
Term for rate of return on constructions					7 years
Antero Midstream Corporation | Marcellus
Leases
Minimum volume commitments that require Antero to utilize or pay certain percentage of the capacity of new construction of compressor stations (as a percent)					25%
Term of lease					10 years
Gathering and Compression Agreement | Utica
Leases
Number of dedicated areas | area	2		2
Gathering and Compression Agreement | Mountaineer | Antero Midstream Corporation
Leases
Number of days from date of asset in service considered for lease term | D					90
Term of lease					12 years
Affiliated Entity
Leases
Accounts payable	$ 92,720		$ 92,720			$ 86,284
Affiliated Entity | Antero Midstream Corporation
Leases
Accounts payable	$ 77,000		$ 77,000			$ 65,000

Commitments (Details)

Commitments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) MMBTU / d	Sep. 30, 2024 USD ($)
Future minimum payments
Remainder of 2024		$ 493,065
2025		1,871,030
2026		1,778,063
2027		1,667,940
2028		1,530,747
Thereafter		5,469,243
Total		12,810,088
Firm transportation
Future minimum payments
Remainder of 2024		298,885
2025		1,184,532
2026		1,182,065
2027		1,177,068
2028		1,118,610
Thereafter		4,439,689
Total		9,400,849
Commitments
Early termination of commitment per day (in MMBtu/d) | MMBTU / d	200,000
Cash payment for early termination	$ 24,000
Processing, Gathering, Compression and Water Service
Future minimum payments
Remainder of 2024		17,680
2025		59,178
2026		26,001
2027		24,712
2028		23,379
Thereafter		86,473
Total		237,423
Operating and Financing Leases
Future minimum payments
Remainder of 2024		136,145
2025		487,948
2026		462,483
2027		387,210
2028		330,913
Thereafter		849,561
Total		2,654,260
Imputed Interest for Leases
Future minimum payments
Remainder of 2024		37,317
2025		130,935
2026		103,538
2027		78,575
2028		57,845
Thereafter		93,520
Total		501,730
Other
Future minimum payments
Remainder of 2024		3,038
2025		8,437
2026		3,976
2027		375
Total		$ 15,826

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Operating results and assets of reportable segments
Number of reportable segments | segment			3
Sales and revenues:
Sales and revenues - Third-party	$ 1,055,342	$ 1,125,630	$ 3,155,093	$ 3,486,520
Sales and revenues - Intersegment	578	546	1,752	1,309
Revenues	1,055,920	1,126,176	3,156,845	3,487,829
Operating expenses:
Lease operating	29,597	33,484	88,477	91,553
General and administrative	54,627	58,425	169,917	169,587
Depletion, depreciation and amortization	170,197	176,259	513,787	515,247
Impairment of property and equipment	13,455	13,476	18,958	44,746
Other	108,764	116,914	347,532	387,377
Total operating expenses	1,061,823	1,070,444	3,159,577	3,189,543
Operating income (loss)	(5,903)	55,732	(2,732)	298,286
Equity in earnings of unconsolidated affiliate	25,634	22,207	69,862	58,986
Capital expenditures for segment assets	173,630	912,046	588,464	912,046
Investments in unconsolidated affiliates	226,860		226,860		$ 222,255
Total assets	13,223,618		13,223,618		13,619,414
Gathering, compression, processing and transportation
Operating expenses:
Cost of goods and services sold	685,183	671,886	2,020,906	1,981,033
Operating segments | Exploration and production
Sales and revenues:
Sales and revenues - Third-party	1,008,182	1,072,562	3,009,995	3,331,130
Sales and revenues - Intersegment	578	546	1,752	1,309
Revenues	1,008,760	1,073,108	3,011,747	3,332,439
Operating expenses:
Lease operating	29,597	33,484	88,477	91,553
General and administrative	54,627	58,425	169,917	169,587
Depletion, depreciation and amortization	170,197	176,259	513,787	515,247
Impairment of property and equipment	13,455	13,476	18,958	44,746
Other	46,620	47,372	154,768	146,536
Total operating expenses	999,679	1,000,902	2,966,813	2,948,702
Operating income (loss)	9,081	72,206	44,934	383,737
Equity in earnings of unconsolidated affiliate	25,634	22,207	69,862	58,986
Capital expenditures for segment assets	173,630	912,046	588,464	912,046
Investments in unconsolidated affiliates	226,860		226,860		222,255
Total assets	13,211,758		13,211,758		13,602,297
Operating segments | Exploration and production | Gathering, compression, processing and transportation
Operating expenses:
Cost of goods and services sold	685,183	671,886	2,020,906	1,981,033
Operating segments | Marketing
Sales and revenues:
Sales and revenues - Third-party	47,160	53,068	145,098	155,390
Revenues	47,160	53,068	145,098	155,390
Operating expenses:
Other	62,144	69,542	192,764	240,841
Total operating expenses	62,144	69,542	192,764	240,841
Operating income (loss)	(14,984)	(16,474)	(47,666)	(85,451)
Total assets	11,860		11,860		17,117
Operating segments | Antero Midstream Corporation
Sales and revenues:
Sales and revenues - Third-party	397	383	1,482	929
Sales and revenues - Intersegment	269,473	263,456	817,234	780,672
Revenues	269,870	263,839	818,716	781,601
Operating expenses:
General and administrative	22,872	17,633	65,312	53,142
Depletion, depreciation and amortization	32,534	30,745	107,205	101,174
Impairment of property and equipment	332		332
Other	(19)	1,234	2,385	8,722
Total operating expenses	107,443	101,526	337,285	325,420
Operating income (loss)	162,427	162,313	481,431	456,181
Equity in earnings of unconsolidated affiliate	27,668	27,397	82,795	77,825
Capital expenditures for segment assets	55,535	45,286	134,007	130,025
Investments in unconsolidated affiliates	609,427		609,427		626,650
Total assets	5,777,451		5,777,451		5,737,618
Operating segments | Antero Midstream Corporation | Gathering, compression, processing and transportation
Operating expenses:
Cost of goods and services sold	51,724	51,914	162,051	162,382
Elimination of intersegment transaction
Sales and revenues:
Sales and revenues - Third-party	(397)	(383)	(1,482)	(929)
Sales and revenues - Intersegment	(269,473)	(263,456)	(817,234)	(780,672)
Revenues	(269,870)	(263,839)	(818,716)	(781,601)
Operating expenses:
General and administrative	(22,872)	(17,633)	(65,312)	(53,142)
Depletion, depreciation and amortization	(32,534)	(30,745)	(107,205)	(101,174)
Impairment of property and equipment	(332)		(332)
Other	19	(1,234)	(2,385)	(8,722)
Total operating expenses	(107,443)	(101,526)	(337,285)	(325,420)
Operating income (loss)	(162,427)	(162,313)	(481,431)	(456,181)
Equity in earnings of unconsolidated affiliate	(27,668)	(27,397)	(82,795)	(77,825)
Capital expenditures for segment assets	(55,535)	(45,286)	(134,007)	(130,025)
Investments in unconsolidated affiliates	(609,427)		(609,427)		(626,650)
Total assets	(5,777,451)		(5,777,451)		$ (5,737,618)
Elimination of intersegment transaction | Gathering, compression, processing and transportation
Operating expenses:
Cost of goods and services sold	$ (51,724)	$ (51,914)	$ (162,051)	$ (162,382)

Subsidiary Guarantors - Balance

Subsidiary Guarantors - Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Current assets	$ 368,646	$ 475,692
Total assets	13,223,618	13,619,414
Liabilities and Stockholders' Equity
Other current liabilities	2,377	1,295
Total current liabilities	1,323,955	1,452,091
Total liabilities	6,042,286	6,405,312
Parent (Antero) And Guarantor Subsidiaries
Current assets:
Current assets		453,581
Noncurrent assets		12,562,439
Total assets		13,016,020
Liabilities and Stockholders' Equity
Other current liabilities		1,360,102
Total current liabilities		1,446,386
Noncurrent liabilities		4,951,464
Total liabilities		6,397,850
Affiliated Entity
Liabilities and Stockholders' Equity
Accounts payable	$ 92,720	86,284
Affiliated Entity | Parent (Antero) And Guarantor Subsidiaries
Liabilities and Stockholders' Equity
Accounts payable		$ 86,284