XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.25.1

Reportable Segments | 3 Months Ended
--- | ---
Mar. 31, 2025
Reportable Segments |
Reportable Segments | (16) 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. The operating results and assets of the Company’s reportable segments were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total |
Sales and revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Third-party | ​ | $ | 1,073,169 | ​ | ​ | 48,520 | ​ | ​ | 671 | ​ | ​ | (671) | ​ | ​ | 1,121,689 | ​
Intersegment | ​ |  | 582 | ​ | ​ | — | ​ | ​ | 278,380 | ​ | ​ | (278,380) | ​ | ​ | 582 | ​
Total revenue | ​ | ​ | 1,073,751 | ​ | ​ | 48,520 | ​ | ​ | 279,051 | ​ | ​ | (279,051) | ​ | ​ | 1,122,271 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease operating | ​ | ​ | 29,121 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 29,121 | ​
Gathering and compression | ​ | ​ | 223,530 | ​ | ​ | — | ​ | ​ | 26,143 | ​ | ​ | (26,143) | ​ | ​ | 223,530 | ​
Processing | ​ | ​ | 255,795 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 255,795 | ​
Transportation | ​ | ​ | 192,956 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 192,956 | ​
Water handling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27,775 | ​ | ​ | (27,775) | ​ | ​ | — | ​
Production and ad valorem taxes | ​ | ​ | 58,168 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 58,168 | ​
Marketing | ​ | ​ | — | ​ | ​ | 59,813 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59,813 | ​
General and administrative (excluding equity-based compensation) | ​ | ​ | 39,785 | ​ | ​ | — | ​ | ​ | 11,894 | ​ | ​ | (11,894) | ​ | ​ | 39,785 | ​
Equity-based compensation | ​ | ​ | 16,077 | ​ | ​ | — | ​ | ​ | 9,327 | ​ | ​ | (9,327) | ​ | ​ | 16,077 | ​
Facility idling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 522 | ​ | ​ | (522) | ​ | ​ | — | ​
Depletion, depreciation and amortization | ​ | ​ | 190,475 | ​ | ​ | — | ​ | ​ | 37,095 | ​ | ​ | (37,095) | ​ | ​ | 190,475 | ​
Impairment of property and equipment | ​ | ​ | 5,190 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,190 | ​
Other (2) | ​ | ​ | 3,622 | ​ | ​ | — | ​ | ​ | 44 | ​ | ​ | (44) | ​ | ​ | 3,622 | ​
Total operating expenses | ​ | ​ | 1,014,719 | ​ | ​ | 59,813 | ​ | ​ | 112,800 | ​ | ​ | (112,800) | ​ | ​ | 1,074,532 | ​
Operating income (loss) | ​ | $ | 59,032 | ​ | ​ | (11,293) | ​ | ​ | 166,251 | ​ | ​ | (166,251) | ​ | ​ | 47,739 | ​
Equity in earnings of unconsolidated affiliates | ​ | $ | 23,347 | ​ | ​ | — | ​ | ​ | 27,530 | ​ | ​ | (27,530) | ​ | ​ | 23,347 | ​
Capital expenditures for segment assets | ​ | $ | 222,449 | ​ | ​ | — | ​ | ​ | 35,073 | ​ | ​ | (35,073) | ​ | ​ | 222,449 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s unaudited condensed consolidated financial statements.
(2) | Amounts include charges for exploration, accretion of asset retirement obligations, loss on settlement of asset retirement obligations, contract termination, loss contingency and settlements, loss (gain) on sale of assets and other operating expenses, as applicable, which represent segment operating expenses that are not considered significant.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2025 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total |
Sales and revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Third-party | ​ | $ | 1,326,601 | ​ | ​ | 25,558 | ​ | ​ | 505 | ​ | ​ | (505) | ​ | ​ | 1,352,159 | ​
Intersegment | ​ |  | 548 | ​ | ​ | — | ​ | ​ | 290,624 | ​ | ​ | (290,624) | ​ | ​ | 548 | ​
Total revenue | ​ | ​ | 1,327,149 | ​ | ​ | 25,558 | ​ | ​ | 291,129 | ​ | ​ | (291,129) | ​ | ​ | 1,352,707 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease operating | ​ | ​ | 33,986 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 33,986 | ​
Gathering and compression | ​ | ​ | 236,134 | ​ | ​ | — | ​ | ​ | 26,193 | ​ | ​ | (26,193) | ​ | ​ | 236,134 | ​
Processing | ​ | ​ | 261,155 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 261,155 | ​
Transportation | ​ | ​ | 197,728 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 197,728 | ​
Water handling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 30,637 | ​ | ​ | (30,637) | ​ | ​ | — | ​
Production and ad valorem taxes | ​ | ​ | 55,299 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 55,299 | ​
Marketing | ​ | ​ | — | ​ | ​ | 42,770 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 42,770 | ​
General and administrative (excluding equity-based compensation) | ​ | ​ | 47,300 | ​ | ​ | — | ​ | ​ | 10,622 | ​ | ​ | (10,622) | ​ | ​ | 47,300 | ​
Equity-based compensation | ​ | ​ | 15,145 | ​ | ​ | — | ​ | ​ | 12,402 | ​ | ​ | (12,402) | ​ | ​ | 15,145 | ​
Facility idling | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 443 | ​ | ​ | (443) | ​ | ​ | — | ​
Depletion, depreciation and amortization | ​ | ​ | 186,352 | ​ | ​ | — | ​ | ​ | 32,748 | ​ | ​ | (32,748) | ​ | ​ | 186,352 | ​
Impairment of property and equipment | ​ | ​ | 5,618 | ​ | ​ | — | ​ | ​ | 817 | ​ | ​ | (817) | ​ | ​ | 5,618 | ​
Other (2) | ​ | ​ | (252) | ​ | ​ | — | ​ | ​ | 44 | ​ | ​ | (44) | ​ | ​ | (252) | ​
Total operating expenses | ​ | ​ | 1,038,465 | ​ | ​ | 42,770 | ​ | ​ | 113,906 | ​ | ​ | (113,906) | ​ | ​ | 1,081,235 | ​
Operating income (loss) | ​ | $ | 288,684 | ​ | ​ | (17,212) | ​ | ​ | 177,223 | ​ | ​ | (177,223) | ​ | ​ | 271,472 | ​
Equity in earnings of unconsolidated affiliates | ​ | $ | 28,661 | ​ | ​ | — | ​ | ​ | 28,020 | ​ | ​ | (28,020) | ​ | ​ | 28,661 | ​
Capital expenditures for segment assets | ​ | $ | 206,145 | ​ | ​ | — | ​ | ​ | 30,528 | ​ | ​ | (30,528) | ​ | ​ | 206,145 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s unaudited condensed consolidated financial statements.
(2) | Amounts include charges for exploration, accretion of asset retirement obligations, loss on settlement of asset retirement obligations, contract termination, loss contingency and settlements, loss (gain) on sale of assets and other operating expenses, as applicable, which represent segment operating expenses that are not considered significant.
The summarized assets of the Company’s reportable segments are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total | ​
Investments in unconsolidated affiliates | ​ | $ | 231,048 | ​ | ​ | — | ​ | ​ | 603,956 | ​ | ​ | (603,956) | ​ | ​ | 231,048 | ​
Total assets | ​ | ​ | 12,999,930 | ​ | ​ | 10,120 | ​ | ​ | 5,761,748 | ​ | ​ | (5,761,748) | ​ | ​ | 13,010,050 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s condensed consolidated financial statements.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of March 31, 2025 | ​
​ | ​ | ​ | ​ | ​ | ​ | Equity Method | ​ | ​ | ​ | ​ | ​
​ | ​ | Exploration | ​ | ​ | ​ | Investment in | ​ | Elimination of | ​ | ​ | ​
​ | ​ | and | ​ | ​ | ​ | Antero | ​ | Unconsolidated | ​ | Consolidated | ​
​ |  | Production |  | Marketing |  | Midstream (1) |  | Affiliate |  | Total |
Investments in unconsolidated affiliates | ​ | $ | 239,672 | ​ | ​ | — | ​ | ​ | 600,349 | ​ | ​ | (600,349) | ​ | ​ | 239,672 | ​
Total assets | ​ | ​ | 13,040,550 | ​ | ​ | 8,771 | ​ | ​ | 5,752,118 | ​ | ​ | (5,752,118) | ​ | ​ | 13,049,321 | ​
(1) | Amounts reflect those recorded in Antero Midstream’s unaudited condensed consolidated financial statements.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration