0001433270--12-31Q220202683900002959410001111P1YP20YP1Y500000false0001433270us-gaap:CommonStockMember2020-04-012020-06-300001433270us-gaap:CommonStockMember2020-01-012020-03-310001433270us-gaap:CommonStockMember2019-04-012019-06-300001433270us-gaap:CommonStockMember2019-01-012019-03-310001433270us-gaap:RetainedEarningsMember2020-06-300001433270us-gaap:NoncontrollingInterestMember2020-06-300001433270us-gaap:AdditionalPaidInCapitalMember2020-06-300001433270us-gaap:RetainedEarningsMember2020-03-310001433270us-gaap:AdditionalPaidInCapitalMember2020-03-3100014332702020-03-310001433270us-gaap:RetainedEarningsMember2019-12-310001433270us-gaap:AdditionalPaidInCapitalMember2019-12-310001433270us-gaap:RetainedEarningsMember2019-06-300001433270us-gaap:AdditionalPaidInCapitalMember2019-06-300001433270us-gaap:RetainedEarningsMember2019-03-310001433270us-gaap:AdditionalPaidInCapitalMember2019-03-3100014332702019-03-310001433270us-gaap:RetainedEarningsMember2018-12-310001433270us-gaap:NoncontrollingInterestMember2018-12-310001433270us-gaap:AdditionalPaidInCapitalMember2018-12-310001433270us-gaap:CommonStockMember2020-06-300001433270us-gaap:CommonStockMember2020-03-310001433270us-gaap:CommonStockMember2019-12-310001433270us-gaap:CommonStockMember2019-06-300001433270us-gaap:CommonStockMember2019-03-310001433270us-gaap:CommonStockMember2018-12-310001433270us-gaap:EmployeeStockOptionMember2019-01-012019-12-310001433270us-gaap:EmployeeStockOptionMember2019-12-310001433270us-gaap:EmployeeStockOptionMember2020-01-012020-06-300001433270ar:AnteroResourcesCorporationLongTermIncentivePlanMember2020-06-300001433270ar:MidstreamLongTermIncentivePlanMember2020-06-300001433270ar:AnteroResourcesCorporationLongTermIncentivePlanMember2020-06-170001433270ar:AnteroMidstreamPartnersPhantomAndRestrictedUnitAwardsMember2019-12-310001433270ar:RestrictedStockAndRestrictedStockUnitMember2019-12-310001433270us-gaap:RestrictedStockMember2020-04-012020-06-300001433270us-gaap:PerformanceSharesMember2020-04-012020-06-300001433270ar:AnteroMidstreamPartnersPhantomAndRestrictedUnitAwardsMember2020-04-012020-06-300001433270us-gaap:RestrictedStockMember2020-01-012020-06-300001433270ar:CommonStockIssuedToDirectorsInLieuOfCashCompensationMember2020-01-012020-06-300001433270us-gaap:RestrictedStockMember2019-04-012019-06-300001433270us-gaap:PerformanceSharesMember2019-04-012019-06-300001433270us-gaap:EmployeeStockOptionMember2019-04-012019-06-300001433270ar:CommonStockIssuedToDirectorsInLieuOfCashCompensationMember2019-04-012019-06-300001433270ar:AnteroMidstreamPartnersPhantomAndRestrictedUnitAwardsMember2019-04-012019-06-300001433270us-gaap:RestrictedStockMember2019-01-012019-06-300001433270us-gaap:PerformanceSharesMember2019-01-012019-06-300001433270us-gaap:EmployeeStockOptionMember2019-01-012019-06-300001433270ar:CommonStockIssuedToDirectorsInLieuOfCashCompensationMember2019-01-012019-06-300001433270ar:AnteroMidstreamPartnersPhantomAndRestrictedUnitAwardsMember2019-01-012019-06-300001433270us-gaap:IntersegmentEliminationMemberar:MarketingMember2019-01-012019-06-300001433270us-gaap:IntersegmentEliminationMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:ProductAndServiceOtherMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndCondensateMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasProductionMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:NaturalGasLiquidsSalesMember2020-04-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndCondensateMember2020-04-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasProductionMember2020-04-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberar:NaturalGasLiquidsSalesMember2020-04-012020-06-300001433270us-gaap:OilAndCondensateMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270us-gaap:NaturalGasProductionMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270srt:ConsolidationEliminationsMemberus-gaap:ProductAndServiceOtherMember2020-04-012020-06-300001433270ar:NaturalGasLiquidsSalesEthaneMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270ar:NaturalGasLiquidsSalesC3NglsMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270ar:MarketingsMemberar:MarketingMember2020-04-012020-06-300001433270us-gaap:ProductAndServiceOtherMember2020-04-012020-06-300001433270us-gaap:OilAndCondensateMember2020-04-012020-06-300001433270us-gaap:NaturalGasProductionMember2020-04-012020-06-300001433270ar:NaturalGasLiquidsSalesMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:ProductAndServiceOtherMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndCondensateMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasProductionMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:NaturalGasLiquidsSalesMember2020-01-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndCondensateMember2020-01-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasProductionMember2020-01-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberar:NaturalGasLiquidsSalesMember2020-01-012020-06-300001433270us-gaap:OilAndCondensateMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270us-gaap:NaturalGasProductionMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270srt:ConsolidationEliminationsMemberus-gaap:ProductAndServiceOtherMember2020-01-012020-06-300001433270ar:NaturalGasLiquidsSalesEthaneMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270ar:NaturalGasLiquidsSalesC3NglsMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270ar:MarketingsMemberar:MarketingMember2020-01-012020-06-300001433270us-gaap:ProductAndServiceOtherMember2020-01-012020-06-300001433270us-gaap:OilAndCondensateMember2020-01-012020-06-300001433270us-gaap:NaturalGasProductionMember2020-01-012020-06-300001433270ar:NaturalGasLiquidsSalesMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:ProductAndServiceOtherMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndCondensateMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasProductionMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:NaturalGasLiquidsSalesMember2019-04-012019-06-300001433270us-gaap:OilAndCondensateMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270us-gaap:NaturalGasProductionMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270ar:NaturalGasLiquidsSalesEthaneMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270ar:NaturalGasLiquidsSalesC3NglsMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270ar:MarketingsMemberar:MarketingMember2019-04-012019-06-300001433270us-gaap:ProductAndServiceOtherMember2019-04-012019-06-300001433270us-gaap:OilAndCondensateMember2019-04-012019-06-300001433270us-gaap:NaturalGasProductionMember2019-04-012019-06-300001433270ar:NaturalGasLiquidsSalesMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:ProductAndServiceOtherMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndCondensateMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasProductionMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:NaturalGasLiquidsSalesMember2019-01-012019-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-01-012019-06-300001433270us-gaap:OilAndCondensateMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270us-gaap:NaturalGasProductionMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270srt:ConsolidationEliminationsMemberus-gaap:ProductAndServiceOtherMember2019-01-012019-06-300001433270ar:NaturalGasLiquidsSalesEthaneMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270ar:NaturalGasLiquidsSalesC3NglsMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270ar:MarketingsMemberar:MarketingMember2019-01-012019-06-300001433270us-gaap:ProductAndServiceOtherMember2019-01-012019-06-300001433270us-gaap:OilAndCondensateMember2019-01-012019-06-300001433270us-gaap:NaturalGasProductionMember2019-01-012019-06-300001433270ar:WaterHandlingAndTreatmentsMember2019-01-012019-06-300001433270ar:NaturalGasLiquidsSalesMember2019-01-012019-06-300001433270ar:GatheringAndCompressionsMember2019-01-012019-06-300001433270us-gaap:RetainedEarningsMember2020-04-012020-06-300001433270us-gaap:RetainedEarningsMember2020-01-012020-03-310001433270us-gaap:RetainedEarningsMember2019-04-012019-06-300001433270us-gaap:RetainedEarningsMember2019-01-012019-03-310001433270us-gaap:SubsequentEventMember2020-07-012020-07-290001433270us-gaap:OtherMachineryAndEquipmentMember2020-06-300001433270ar:ProcessingPlantsMember2020-06-300001433270ar:OfficeSpaceMember2020-06-300001433270ar:GasGatheringLinesAndCompressorStationsMember2020-06-300001433270ar:DrillingAndCompletionRigsMember2020-06-300001433270ar:ProcessingPlantsMember2019-12-310001433270ar:OfficeSpaceMember2019-12-310001433270ar:GasGatheringLinesAndCompressorStationsMember2019-12-310001433270ar:DrillingAndCompletionRigsMember2019-12-310001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-04-012020-06-300001433270us-gaap:GeneralAndAdministrativeExpenseMember2020-04-012020-06-300001433270ar:ContractTerminationAndRigStackingMember2020-04-012020-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-01-012020-06-300001433270us-gaap:GeneralAndAdministrativeExpenseMember2020-01-012020-06-300001433270ar:ContractTerminationAndRigStackingMember2020-01-012020-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-04-012019-06-300001433270us-gaap:GeneralAndAdministrativeExpenseMember2019-04-012019-06-300001433270ar:ContractTerminationAndRigStackingMember2019-04-012019-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-01-012019-06-300001433270us-gaap:GeneralAndAdministrativeExpenseMember2019-01-012019-06-300001433270ar:ContractTerminationAndRigStackingMember2019-01-012019-06-300001433270us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001433270us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001433270ar:DoddridgeCountyTylerCountyAndRitchieCountyWestVirginiaMembersrt:MinimumMember2020-06-300001433270ar:WashingtonGasLightCompanyMemberus-gaap:PendingLitigationMember2018-03-310001433270ar:WashingtonGasLightCompanyMembersrt:MinimumMemberus-gaap:PendingLitigationMember2017-03-310001433270ar:SeniorNotes5625PercentDue2023Member2019-12-310001433270ar:SeniorNotes5125PercentDue2022Member2019-12-310001433270ar:SeniorNotes500PercentDue2025Member2019-12-310001433270ar:SeniorNotes5.375PercentDue2021Member2019-12-310001433270ar:WashingtonGasLightCompanyMember2019-06-202019-06-200001433270srt:MinimumMemberus-gaap:InternalNoninvestmentGradeMemberus-gaap:LineOfCreditMember2020-01-012020-06-300001433270srt:MaximumMemberus-gaap:InternalNoninvestmentGradeMemberus-gaap:LineOfCreditMember2020-01-012020-06-300001433270ar:AnteroMidstreamPartnersLpMember2019-03-122019-03-120001433270us-gaap:LineOfCreditMember2019-12-310001433270srt:MinimumMember2020-06-300001433270srt:MaximumMember2020-06-300001433270srt:GuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2020-04-012020-06-300001433270srt:GuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2019-04-012019-06-300001433270us-gaap:VehiclesMember2020-06-300001433270us-gaap:VehiclesMember2019-12-310001433270us-gaap:OtherMachineryAndEquipmentMember2019-12-310001433270ar:AnteroMidstreamMember2019-03-132019-06-300001433270ar:AnteroMidstreamMember2019-03-130001433270ar:AnteroMidstreamMember2020-06-300001433270srt:GuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2020-01-012020-06-300001433270us-gaap:EmployeeStockOptionMember2020-06-300001433270us-gaap:PerformanceSharesMember2020-06-300001433270ar:RestrictedStockAndRestrictedStockUnitMember2020-06-300001433270ar:AnteroMidstreamPartnersPhantomAndRestrictedUnitAwardsMember2020-06-300001433270us-gaap:PerformanceSharesMember2020-01-012020-06-300001433270ar:RestrictedStockAndRestrictedStockUnitMember2020-01-012020-06-300001433270ar:AnteroMidstreamPartnersPhantomAndRestrictedUnitAwardsMember2020-01-012020-06-300001433270ar:AnteroMidstreamMember2019-03-122019-03-120001433270ar:YearEndingDecember312024Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312024Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:OpisPropaneMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:OpisNaturalGasolineMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312025Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312025Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberar:OpisPropaneMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberar:OpisNaturalGasolineMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:OpisPropaneMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:OpisNaturalGasolineMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberar:NYMEXMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberar:AraArgusPropaneMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:WtiNymexMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:NYMEXMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312021Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:WtiNymexMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NYMEXMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:AraArgusPropaneMemberus-gaap:SwapMember2020-06-300001433270us-gaap:DesignatedAsHedgingInstrumentMember2020-06-300001433270us-gaap:DesignatedAsHedgingInstrumentMember2019-12-310001433270ar:YearEndingDecember312024Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312023Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312022Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:OpisPropaneMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:OpisNaturalGasolineMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312025Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberar:OpisPropaneMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberar:OpisNaturalGasolineMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:WtiNymexMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:OpisPropaneMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:OpisNaturalGasolineMtBelvNonTetMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:MontBelvieuPurityEthaneOpisMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312024Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312023Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312022Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:WtiNymexMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:MontBelvieuNaturalGasolineToNymexWtiMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312025Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312022Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:ThreeMonthsEndingMarch312021Memberar:MontBelvieuPurityEthaneOpisMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:WtiNymexMembersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:MontBelvieuPurityEthaneOpisMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:MontBelvieuNaturalGasolineToNymexWtiMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:AraArgusPropaneMemberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Membersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Membersrt:CrudeOilMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NaturalGasLiquidsMemberus-gaap:SwapMember2020-01-012020-06-300001433270ar:YearEndingDecember312024Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312025Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NYMEXMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312024Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312024Memberar:NymexToTcoMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberar:NymexToTcoMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312023Memberar:NYMEXMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberar:NymexToTcoMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312022Memberar:NYMEXMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:NymexToTcoMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:NYMEXMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:ThreeMonthsEndingMarch312025Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NymexToTcoMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NYMEXMemberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:YearEndingDecember312021Memberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NaturalGasMemberus-gaap:SwapMember2020-06-300001433270ar:FixedPriceSwapAgreementMember2020-06-300001433270us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CommodityContractMemberus-gaap:NondesignatedMember2020-06-300001433270us-gaap:SalesMember2020-04-012020-06-300001433270us-gaap:SalesMember2020-01-012020-06-300001433270us-gaap:SalesMember2019-04-012019-06-300001433270us-gaap:SalesMember2019-01-012019-06-300001433270us-gaap:CommodityContractMemberus-gaap:NondesignatedMember2020-06-300001433270us-gaap:CommodityContractMemberus-gaap:NondesignatedMember2019-12-310001433270us-gaap:NondesignatedMember2020-06-300001433270us-gaap:NondesignatedMember2019-12-310001433270us-gaap:CommodityContractMember2020-06-300001433270us-gaap:CommodityContractMember2019-12-3100014332702020-01-310001433270srt:GuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2019-01-012019-06-300001433270ar:DebtInstrumentRedemptionPeriodOnOrAfterJune12021Memberar:SeniorNotes5625PercentDue2023Member2020-01-012020-06-300001433270ar:DebtInstrumentRedemptionPeriodOnOrAfterJune12020Memberar:SeniorNotes5125PercentDue2022Member2020-01-012020-06-300001433270ar:DebtInstrumentRedemptionPeriodOnOrAfter01March2023Memberar:SeniorNotes500PercentDue2025Member2020-01-012020-06-300001433270ar:DebtInstrumentRedemptionPeriodOnOrAfter01March2020Memberar:SeniorNotes500PercentDue2025Member2020-01-012020-06-300001433270ar:SeniorNotes5625PercentDue2023Member2020-06-300001433270ar:SeniorNotes5125PercentDue2022Member2020-06-300001433270ar:SeniorNotes500PercentDue2025Member2020-06-300001433270ar:SeniorNotes5.375PercentDue2021Member2020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2020-04-012020-06-300001433270srt:ConsolidationEliminationsMember2020-04-012020-06-300001433270srt:ConsolidationEliminationsMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:OilAndGasOperationAndMaintenanceMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:AnteroMidstreamMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndGasOperationAndMaintenanceMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:MarketingsMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:ExplorationMember2020-04-012020-06-300001433270us-gaap:IntersegmentEliminationMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-04-012020-06-300001433270us-gaap:OilAndGasOperationAndMaintenanceMember2020-04-012020-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-04-012020-06-300001433270ar:MarketingsMember2020-04-012020-06-300001433270ar:ExplorationMember2020-04-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:OilAndGasOperationAndMaintenanceMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:AnteroMidstreamMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndGasOperationAndMaintenanceMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:MarketingsMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:ExplorationMember2020-01-012020-06-300001433270us-gaap:IntersegmentEliminationMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-01-012020-06-300001433270us-gaap:OilAndGasOperationAndMaintenanceMember2020-01-012020-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2020-01-012020-06-300001433270ar:MarketingsMember2020-01-012020-06-300001433270ar:ExplorationMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:OilAndGasOperationAndMaintenanceMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:OilAndGasOperationAndMaintenanceMemberar:AnteroMidstreamMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:AnteroMidstreamMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndGasOperationAndMaintenanceMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:MarketingsMember2019-04-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:ExplorationMember2019-04-012019-06-300001433270us-gaap:IntersegmentEliminationMemberus-gaap:OilAndGasOperationAndMaintenanceMember2019-04-012019-06-300001433270us-gaap:IntersegmentEliminationMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-04-012019-06-300001433270us-gaap:OilAndGasOperationAndMaintenanceMember2019-04-012019-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-04-012019-06-300001433270ar:MarketingsMember2019-04-012019-06-300001433270ar:ExplorationMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:OilAndGasOperationAndMaintenanceMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:OilAndGasOperationAndMaintenanceMemberar:AnteroMidstreamMember2019-01-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270us-gaap:OperatingSegmentsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMemberar:AnteroMidstreamMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndGasOperationAndMaintenanceMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:MarketingsMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMemberar:ExplorationMember2019-01-012019-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMemberus-gaap:OilAndGasOperationAndMaintenanceMember2019-01-012019-06-300001433270us-gaap:IntersegmentEliminationMemberus-gaap:OilAndGasOperationAndMaintenanceMember2019-01-012019-06-300001433270us-gaap:IntersegmentEliminationMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-01-012019-06-300001433270srt:ConsolidationEliminationsMemberus-gaap:OilAndGasOperationAndMaintenanceMember2019-01-012019-06-300001433270srt:ConsolidationEliminationsMemberus-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-01-012019-06-300001433270us-gaap:OilAndGasOperationAndMaintenanceMember2019-01-012019-06-300001433270us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember2019-01-012019-06-300001433270ar:MarketingsMember2019-01-012019-06-300001433270ar:ExplorationMember2019-01-012019-06-300001433270us-gaap:LeaseAgreementsMember2020-06-300001433270ar:OperatingAndFinancingLeasesMember2020-06-300001433270ar:LongTermGasProcessingAgreementMember2020-06-300001433270ar:LandPaymentObligationsMember2020-06-300001433270ar:FirmTransportationAgreementsMember2020-06-300001433270ar:AnteroMidstreamMember2019-03-1200014332702018-12-310001433270us-gaap:AccountsPayableMember2020-06-300001433270us-gaap:AccountsPayableMember2019-12-310001433270ar:RevenueDistributionsPayableMember2019-12-310001433270us-gaap:OperatingSegmentsMemberar:MarketingMember2020-06-300001433270us-gaap:OperatingSegmentsMemberar:ExplorationAndProductionMember2020-06-300001433270us-gaap:OperatingSegmentsMemberar:AnteroMidstreamMember2020-06-300001433270us-gaap:IntersegmentEliminationMember2020-06-300001433270us-gaap:OperatingSegmentsMemberar:MarketingMember2019-06-300001433270us-gaap:OperatingSegmentsMemberar:ExplorationAndProductionMember2019-06-300001433270us-gaap:OperatingSegmentsMemberar:AnteroMidstreamMember2019-06-300001433270us-gaap:IntersegmentEliminationMember2019-06-3000014332702019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2020-04-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2019-04-012019-06-300001433270us-gaap:PerformanceSharesMember2020-04-012020-06-300001433270us-gaap:EmployeeStockOptionMember2020-04-012020-06-300001433270ar:RestrictedStockAndRestrictedStockUnitMember2020-04-012020-06-300001433270us-gaap:PerformanceSharesMember2020-01-012020-06-300001433270us-gaap:EmployeeStockOptionMember2020-01-012020-06-300001433270ar:RestrictedStockAndRestrictedStockUnitMember2020-01-012020-06-300001433270us-gaap:PerformanceSharesMember2019-04-012019-06-300001433270us-gaap:EmployeeStockOptionMember2019-04-012019-06-300001433270ar:RestrictedStockAndRestrictedStockUnitMember2019-04-012019-06-300001433270us-gaap:PerformanceSharesMember2019-01-012019-06-300001433270us-gaap:EmployeeStockOptionMember2019-01-012019-06-300001433270ar:RestrictedStockAndRestrictedStockUnitMember2019-01-012019-06-300001433270us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001433270us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-3100014332702020-01-012020-03-310001433270us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300001433270srt:GuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2020-06-300001433270srt:GuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2019-12-310001433270srt:ConsolidationEliminationsMember2020-06-300001433270ar:AnteroMidstreamMember2020-06-300001433270srt:ConsolidationEliminationsMember2019-12-310001433270ar:AnteroMidstreamMember2019-12-310001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2020-06-3000014332702020-07-240001433270ar:YearEndingDecember312024Memberar:NymexToTcoMember2020-01-012020-06-300001433270ar:YearEndingDecember312023Memberar:NymexToTcoMember2020-01-012020-06-300001433270ar:YearEndingDecember312022Memberar:NymexToTcoMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:NymexToTcoMember2020-01-012020-06-300001433270ar:YearEndingDecember312021Memberar:MontBelvieuNaturalGasolineToNymexWtiMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:NymexToTcoMember2020-01-012020-06-300001433270ar:SixMonthsEndingDecember312020Memberar:MontBelvieuNaturalGasolineToNymexWtiMember2020-01-012020-06-300001433270ar:AnteroMidstreamMemberar:MidstreamLongTermIncentivePlanMemberus-gaap:CommonStockMember2020-01-012020-06-300001433270ar:AnteroMidstreamMemberar:MidstreamLongTermIncentivePlanMember2020-01-012020-06-300001433270us-gaap:LineOfCreditMember2020-01-012020-06-300001433270us-gaap:NoncontrollingInterestMember2020-04-012020-06-300001433270us-gaap:NoncontrollingInterestMember2019-01-012019-03-310001433270us-gaap:AdditionalPaidInCapitalMember2019-01-012019-03-3100014332702019-01-012019-03-310001433270us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:MarketingMember2020-04-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:MarketingMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:MarketingMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberar:MarketingMember2019-01-012019-06-300001433270us-gaap:OperatingSegmentsMemberar:ExplorationAndProductionMember2020-04-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:AnteroMidstreamMember2020-04-012020-06-300001433270us-gaap:IntersegmentEliminationMember2020-04-012020-06-300001433270us-gaap:IntersegmentEliminationMemberar:ExplorationAndProductionMember2020-01-012020-06-300001433270us-gaap:IntersegmentEliminationMemberar:AnteroMidstreamMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:ExplorationAndProductionMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberar:ExplorationAndProductionMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2019-12-310001433270ar:WashingtonGasLightCompanyMember2018-11-300001433270ar:WashingtonGasLightCompanyLoudounCountyVirginiaMember2018-11-300001433270ar:WashingtonGasLightCompanyBraxtonWestVirginiaMember2018-02-012018-02-010001433270ar:WashingtonGasLightCompanyBraxtonWestVirginiaMember2018-01-312018-01-310001433270ar:WashingtonGasLightCompanyMemberus-gaap:PositiveOutcomeOfLitigationMember2017-12-012018-01-310001433270ar:WashingtonGasLightCompanyMemberus-gaap:PositiveOutcomeOfLitigationMember2017-08-012017-11-300001433270ar:WashingtonGasLightCompanyMemberus-gaap:PositiveOutcomeOfLitigationMember2016-01-012017-07-310001433270us-gaap:LineOfCreditMember2020-06-300001433270us-gaap:OperatingSegmentsMemberar:AnteroMidstreamMember2020-01-012020-06-300001433270us-gaap:IntersegmentEliminationMember2020-01-012020-06-300001433270us-gaap:OperatingSegmentsMemberar:AnteroMidstreamMember2019-04-012019-06-300001433270us-gaap:IntersegmentEliminationMember2019-04-012019-06-300001433270us-gaap:OperatingSegmentsMemberar:AnteroMidstreamMember2019-01-012019-06-300001433270us-gaap:IntersegmentEliminationMember2019-01-012019-06-3000014332702020-01-012020-06-150001433270ar:AnteroMidstreamMember2020-04-012020-06-300001433270ar:AnteroMidstreamMember2020-01-012020-06-300001433270ar:AnteroMidstreamMember2019-04-012019-06-300001433270ar:AnteroMidstreamMember2019-01-012019-06-300001433270ar:AnteroMidstreamMemberar:GasGatheringLinesAndCompressorStationsMember2020-06-300001433270ar:AnteroMidstreamMemberar:GasGatheringLinesAndCompressorStationsMember2019-12-310001433270srt:MaximumMember2020-04-012020-06-300001433270srt:MaximumMember2020-01-012020-06-300001433270srt:MaximumMember2019-04-012019-06-300001433270srt:MaximumMember2019-01-012019-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2020-01-012020-06-300001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2020-01-012020-06-300001433270srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2019-01-012019-06-300001433270ar:SeniorNotes5625PercentDue2023Member2020-01-012020-06-300001433270ar:SeniorNotes5125PercentDue2022Member2020-01-012020-06-300001433270ar:SeniorNotes500PercentDue2025Member2020-01-012020-06-300001433270ar:SeniorNotes5.375PercentDue2021Member2020-01-012020-06-300001433270ar:SeniorNotes500PercentDue2025Member2016-12-210001433270ar:SeniorNotes5625PercentDue2023Member2015-03-170001433270ar:SeniorNotes5125PercentDue2022Member2014-09-180001433270ar:SeniorNotes5125PercentDue2022Member2014-05-060001433270ar:SeniorNotes5.375PercentDue2021Member2013-11-050001433270ar:SixthStreetPartnersLlcMember2020-06-150001433270ar:AnteroMidstreamPartnersLpMember2019-03-120001433270srt:NonGuarantorSubsidiariesMembersrt:ReportableLegalEntitiesMember2019-01-012019-06-300001433270srt:ConsolidationEliminationsMember2019-01-012019-06-3000014332702020-04-012020-06-3000014332702020-01-012020-06-3000014332702019-04-012019-06-3000014332702019-01-012019-06-300001433270ar:SixthStreetPartnersLlcMember2020-01-012020-06-1500014332702020-06-1500014332702020-06-3000014332702019-12-31ar:itemiso4217:USDutr:MMBTUiso4217:USDutr:galiso4217:USDutr:bbliso4217:USDxbrli:purexbrli:sharesutr:ftutr:MMBTUutr:Dar:trancheiso4217:USDxbrli:sharesutr:bblutr:gal

Table of Contents

ensura

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                    to                   

Commission file number: 001-36120

Graphic

ANTERO RESOURCES CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

80-0162034

(State or other jurisdiction of
incorporation or organization)

(IRS Employer Identification No.)

1615 Wynkoop Street, Denver, Colorado

80202

(Address of principal executive offices)

(Zip Code)

(303357-7310

(Registrant’s telephone number, including area code)

Securities registered pursuant to section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01

AR

New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes   No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes   No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer

Accelerated Filer

Non-accelerated Filer

Smaller Reporting Company

Emerging Growth Company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)  Yes   No

The registrant had 268,548,938 shares of common stock outstanding as of July 24, 2020.

Table of Contents

TABLE OF CONTENTS

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    

2

PART I—FINANCIAL INFORMATION

4

Item 1.

    

Financial Statements (Unaudited)

4

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

45

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

67

Item 4.

Controls and Procedures

69

PART II—OTHER INFORMATION

70

Item 1.

Legal Proceedings

70

Item 1A.

Risk Factors

70

Item 2.

Unregistered Sales of Equity Securities

70

Item 6.

Exhibits

71

SIGNATURES

72

1

Table of Contents

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Some of the information in this Quarterly Report on Form 10-Q may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical fact included in this Quarterly Report on Form 10-Q, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. Words such as “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” or “continue,” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. When considering these forward-looking statements, investors should keep in mind the risk factors and other cautionary statements in this Quarterly Report on Form 10-Q. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Factors that could cause our actual results to differ materially from the results contemplated by such forward-looking statements include:

our ability to execute our business strategy;
our production and oil and gas reserves;
our financial strategy, liquidity, and capital required for our development program;
our ability to obtain debt or equity financing on satisfactory terms to fund additional acquisitions, expansion projects, working capital requirements and the repayment or refinancing of indebtedness;
natural gas, natural gas liquids (“NGLs”), and oil prices;
impacts of world health events, including the coronavirus (“COVID-19”) pandemic;
timing and amount of future production of natural gas, NGLs, and oil;
our hedging strategy and results;
our ability to execute our debt repurchase program and/or our asset sale program;
our ability to meet minimum volume commitments and to utilize or monetize our firm transportation commitments;
our future drilling plans;
our projected well costs and cost savings initiatives, including with respect to water handling and treatment services provided by Antero Midstream Corporation;
competition and government regulations;
pending legal or environmental matters;
marketing of natural gas, NGLs, and oil;
leasehold or business acquisitions;
costs of developing our properties;
operations of Antero Midstream Corporation;
general economic conditions;
credit markets;
expectations regarding the amount and timing of jury awards;
uncertainty regarding our future operating results; and

2

Table of Contents

our other plans, objectives, expectations and intentions contained in this Quarterly Report on Form 10-Q.

We caution investors that these forward-looking statements are subject to all of the risks and uncertainties incidental to our business, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, availability of drilling, completion, and production equipment and services, environmental risks, drilling and completion and other operating risks, marketing and transportation risks, regulatory changes, the uncertainty inherent in estimating natural gas, NGLs, and oil reserves and in projecting future rates of production, cash flows and access to capital, the timing of development expenditures, conflicts of interest among our stockholders, impacts of world health events, including the COVID-19 pandemic, potential shut-ins of production due to lack of downstream demand or storage capacity, and the other risks described or referenced under the heading “Risk Factors” herein, including the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”) and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, each of which is on file with the Securities and Exchange Commission (“SEC”).

Reserve engineering is a process of estimating underground accumulations of natural gas, NGLs, and oil that cannot be measured in an exact manner. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data, and the price and cost assumptions made by reservoir engineers. In addition, the results of drilling, testing, and production activities, or changes in commodity prices, may justify revisions of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of natural gas, NGLs, and oil that are ultimately recovered.

Should one or more of the risks or uncertainties described or referenced in this Quarterly Report on Form 10-Q occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements.

All forward-looking statements, expressed or implied, included in this Quarterly Report on Form 10-Q are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue.

Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q.

3

Table of Contents

PART I—FINANCIAL INFORMATION

ANTERO RESOURCES CORPORATION

Condensed Consolidated Balance Sheets

December 31, 2019 and June 30, 2020

(In thousands)

(Unaudited)

December 31,

June 30,

  

2019

  

2020

Assets

Current assets:

  

Accounts receivable

$

46,419

57,013

Accounts receivable, related parties

125,000

Accrued revenue

317,886

254,863

Derivative instruments

422,849

521,459

Other current assets

10,731

8,942

Total current assets

922,885

842,277

Property and equipment:

Oil and gas properties, at cost (successful efforts method):

Unproved properties

1,368,854

1,277,476

Proved properties

11,859,817

11,989,302

Gathering systems and facilities

5,802

5,802

Other property and equipment

71,895

72,649

13,306,368

13,345,229

Less accumulated depletion, depreciation, and amortization

(3,327,629)

(3,408,099)

Property and equipment, net

9,978,739

9,937,130

Operating leases right-of-use assets

2,886,500

2,562,945

Derivative instruments

333,174

103,514

Investment in unconsolidated affiliate

1,055,177

279,805

Other assets

21,094

18,319

Total assets

$

15,197,569

13,743,990

Liabilities and Equity

Current liabilities:

  

Accounts payable

$

14,498

36,736

Accounts payable, related parties

97,883

73,375

Accrued liabilities

400,850

339,388

Revenue distributions payable

207,988

173,759

Derivative instruments

6,721

3,652

Short-term lease liabilities

305,320

230,499

Other current liabilities

6,879

6,831

Total current liabilities

1,040,139

864,240

Long-term liabilities:

Long-term debt

3,758,868

3,518,076

Deferred income tax liability

781,987

529,598

Derivative instruments

3,519

2,558

Long-term lease liabilities

2,583,678

2,334,227

Other liabilities

58,635

62,312

Total liabilities

8,226,826

7,311,011

Commitments and contingencies (Notes 14 and 15)

Equity:

Stockholders' equity:

Preferred stock, $0.01 par value; authorized - 50,000 shares; none issued

Common stock, $0.01 par value; authorized - 1,000,000 shares; 295,941 shares and 268,390 shares issued and outstanding at December 31, 2019 and June 30, 2020, respectively

2,959

2,684

Additional paid-in capital

6,130,365

6,098,167

Accumulated earnings

837,419

35,305

Total stockholders' equity

6,970,743

6,136,156

Noncontrolling interests

296,823

Total equity

6,970,743

6,432,979

Total liabilities and equity

$

15,197,569

13,743,990

See accompanying notes to unaudited condensed consolidated financial statements.

4

Table of Contents

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

Three Months Ended June 30, 2019 and 2020

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended June 30,

  

2019

  

2020

 

Revenue and other:

Natural gas sales

$

553,372

367,415

Natural gas liquids sales

303,963

212,197

Oil sales

49,062

8,322

Commodity derivative fair value gains (losses)

328,427

(168,015)

Marketing

63,080

64,285

Other income

1,760

707

Total revenue

1,299,664

484,911

Operating expenses:

Lease operating

40,857

24,742

Gathering, compression, processing, and transportation

566,834

631,845

Production and ad valorem taxes

30,968

19,992

Marketing

137,539

113,053

Exploration

314

231

Impairment of oil and gas properties

130,999

37,350

Depletion, depreciation, and amortization

242,302

214,035

Loss on sale of assets

951

Accretion of asset retirement obligations

918

1,111

General and administrative (including equity-based compensation expense of $6,549 and $7,973 in 2019 and 2020, respectively)

42,382

38,403

Contract termination and rig stacking

5,604

11,071

Total operating expenses

1,199,668

1,091,833

Operating income (loss)

99,996

(606,922)

Other income (expenses):

Equity in earnings of unconsolidated affiliates

13,585

20,228

Transaction expense

(6,138)

Interest expense, net

(54,164)

(51,811)

Gain on early extinguishment of debt

39,171

Total other income (expenses)

(40,579)

1,450

Income (loss) before income taxes

59,417

(605,472)

Provision for income tax (expense) benefit

(17,249)

142,404

Net income (loss) and comprehensive income (loss) including noncontrolling interests

42,168

(463,068)

Less: net income and comprehensive income attributable to noncontrolling interests

236

Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation

$

42,168

(463,304)

Income (loss) per share—basic

$

0.14

(1.73)

Income (loss) per share—diluted

$

0.14

(1.73)

Weighted average number of shares outstanding:

Basic

309,062

268,386

Diluted

309,137

268,386

See accompanying notes to unaudited condensed consolidated financial statements

5

Table of Contents

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

Six Months Ended June 30, 2019 and 2020

(Unaudited)

(In thousands, except per share amounts)

Six Months Ended June 30,

  

2019

  

2020

Revenue and other:

Natural gas sales

$

1,210,638

778,497

Natural gas liquids sales

617,648

469,870

Oil sales

97,114

43,968

Commodity derivative fair value gains

251,059

397,818

Gathering, compression, water handling and treatment

4,479

Marketing

154,266

110,358

Other income

1,867

1,505

Total revenue

2,337,071

1,802,016

Operating expenses:

Lease operating

82,589

50,386

Gathering, compression, processing, and transportation

991,363

1,220,469

Production and ad valorem taxes

66,646

45,691

Marketing

300,623

206,326

Exploration

440

441

Impairment of oil and gas properties

212,243

126,570

Impairment of midstream assets

6,982

Depletion, depreciation, and amortization

482,503

413,712

Loss on sale of assets

951

Accretion of asset retirement obligations

1,894

2,215

General and administrative (including equity-based compensation expense of $15,452 and $11,302 in 2019 and 2020, respectively)

110,584

69,624

Contract termination and rig stacking

13,964

11,071

Total operating expenses

2,270,782

2,146,505

Operating income (loss)

66,289

(344,489)

Other income (expenses):

Equity in earnings (loss) of unconsolidated affiliates

27,666

(107,827)

Impairment of equity investment

(610,632)

Gain on deconsolidation of Antero Midstream Partners LP

1,406,042

Transaction expense

(6,138)

Interest expense, net

(126,114)

(104,913)

Gain on early extinguishment of debt

119,732

Total other income (expenses)

1,307,594

(709,778)

Income (loss) before income taxes

1,373,883

(1,054,267)

Provision for income tax (expense) benefit

(305,959)

252,389

Net income (loss) and comprehensive income (loss) including noncontrolling interests

1,067,924

(801,878)

Less: net income and comprehensive income attributable to noncontrolling interests

46,993

236

Net income (loss) and comprehensive income (loss) attributable to Antero Resources Corporation

$

1,020,931

(802,114)

Income (loss) per share—basic

$

3.31

(2.90)

Income (loss) per share—diluted

$

3.30

(2.90)

Weighted average number of shares outstanding:

Basic

308,879

276,306

Diluted

309,082

276,306

See accompanying notes to unaudited condensed consolidated financial statements.

6

Table of Contents

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statement of Equity

Six Months Ended June 30, 2019

(Unaudited)

(In thousands)

Additional

Common Stock

paid-in

Accumulated

Noncontrolling

Total

  

Shares

  

Amount

  

capital

  

earnings

  

interests

  

equity

Balances, December 31, 2018

308,594

$

3,086

6,485,174

1,177,548

821,669

8,487,477

Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes

147

1

(451)

(450)

Issuance of common units in Antero Midstream Partners LP upon vesting of equity-based compensation awards, net of units withheld for income taxes

(85)

56

(29)

Equity-based compensation

7,801

1,102

8,903

Net income and comprehensive income

978,763

46,993

1,025,756

Distributions to noncontrolling interests

(85,076)

(85,076)

Effect of deconsolidation of Antero Midstream Partners LP

(359,039)

(784,744)

(1,143,783)

Balances, March 31, 2019

308,741

$

3,087

6,133,400

2,156,311

8,292,798

Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes

382

4

(1,819)

(1,815)

Equity-based compensation

6,549

6,549

Net income and comprehensive income

42,168

42,168

Balances, June 30, 2019

309,123

$

3,091

6,138,130

2,198,479

8,339,700

See accompanying notes to unaudited condensed consolidated financial statements.

7

Table of Contents

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statement of Equity

Six Months Ended June 30, 2020

(Unaudited)

(In thousands)

Additional

Common Stock

paid-in

Accumulated

Noncontrolling

Total

  

Shares

  

Amount

  

capital

  

earnings

  

interests

  

equity

Balances, December 31, 2019

295,941

$

2,959

6,130,365

837,419

6,970,743

Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes

178

2

(34)

(32)

Repurchases and retirements of common stock

(27,193)

(272)

(42,418)

(42,690)

Equity-based compensation

3,329

3,329

Net loss and comprehensive loss

(338,810)

(338,810)

Balances, March 31, 2020

268,926

2,689

6,091,242

498,609

6,592,540

Issuance of common units in Martica Holdings LLC

300,000

300,000

Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes

464

5

(305)

(300)

Distributions to noncontrolling interest

(3,413)

(3,413)

Repurchases and retirements of common stock

(1,000)

(10)

(743)

(753)

Equity-based compensation

7,973

7,973

Net loss and comprehensive loss

(463,304)

236

(463,068)

Balances, June 30, 2020

268,390

$

2,684

6,098,167

35,305

296,823

6,432,979

See accompanying notes to unaudited condensed consolidated financial statements.

8

Table of Contents

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statements of Cash Flows

Six Months Ended June 30, 2019 and 2020

(Unaudited)

(In thousands)

Six Months Ended June 30,

  

2019

  

2020

 

Cash flows provided by (used in) operating activities:

Net income (loss) including noncontrolling interests

$

1,067,924

(801,878)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depletion, depreciation, amortization, and accretion

484,397

415,927

Impairment of oil and gas properties

212,243

126,570

Impairment of midstream assets

6,982

Commodity derivative fair value gains

(251,059)

(397,818)

Gains on settled commodity derivatives

141,791

524,838

Loss on sale of assets

951

Equity-based compensation expense

15,452

11,302

Deferred income tax expense (benefit)

304,963

(252,389)

Gain on early extinguishment of debt

(119,732)

Equity in (earnings) loss of unconsolidated affiliates

(27,666)

107,827

Impairment of equity investment

610,632

Gain on deconsolidation of Antero Midstream Partners LP

(1,406,042)

Distributions/dividends of earnings from unconsolidated affiliates

60,527

85,511

Other

5,670

4,433

Changes in current assets and liabilities:

Accounts receivable

5,848

(27,329)

Accrued revenue

166,066

63,023

Other current assets

2,307

789

Accounts payable including related parties

(2,424)

(21,182)

Accrued liabilities

(22,146)

15,722

Revenue distributions payable

(9,795)

(29,560)

Other current liabilities

1,119

(46)

Net cash provided by operating activities

757,108

316,640

Cash flows provided by (used in) investing activities:

Additions to unproved properties

(56,814)

(21,672)

Drilling and completion costs

(680,088)

(552,227)

Additions to water handling and treatment systems

(24,416)