Investor Presentaiton
Antero Well Performance vs. Peers
Antero leads its Appalachian peers in well productivity trends, and
importantly, continues to increase its liquids productivity
AR Oil & NGLs Cumulative Well Productivity
Cumulative Oil and C3+ Production (MBbl)
200
180
160
140
120
100
80
60
40
20
20
87% Increase
800
AR Cumulative Well Productivity vs. Peers
2022
2021
2020
2019
2018
Normalized Cumulative Gas Equivalent (MMcfe/1,000')
700
+20% vs
Antero
peer avg
600
Since
500
2020
400
I
Peer
Average (1)
300
200
100
0 30
60
90
120
150
180
Days On Line
0
12
Months On Line
18
24
Source: Wellhead production from Enverus public data. Well BTU categorization based on Antero internal BTU mapping data. Processing shrink and NGL yields consistently assigned across all operators based on assigned BTU buckets.
Note: Production data cutoff at 24 months. Peers limited to SW Marcellus Operators with a minimum of 120 wells TIL since 2020. Represents cumulative sum of the average rate-time profile. Assumes no processing for wells with less than
1100 BTU (zero C3+ yield). Represents Enverus lateral lengths for peer average and internal lateral lengths for AR data.
| Antero Resources (NYSE: AR)
1)
Peers include EQT, RRC and SWN (SW Marcellus wells).
5View entire presentation