Antero Midstream Partners Investor Presentation Deck
Antero is the Largest NGL Producer in the U.S.
Antero is the largest NGL producer in the U.S. and controls 40% of the
core undrilled liquids-rich locations in Appalachia(²)
Top U.S. C2+ NGL Producers - 2019E(1)
Undrilled Core Liquids-rich Inventory(2)
(MBbls/d)
150
140
130
120
110
100
90
80
70
60
50
150
37%
AR
EOG
APC
Most exposure
to NGL prices
Peer Avg. Pre-Hedge NGL % of
Revenue
Product
RRC
AXO
DVN
COP
XEC
17%
MRO
APA
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
Undrilled Liquids-Rich Locations
2,500
2,000
1,500
1,000
500
(2,043)
796
Over 2.5x
Antero
Inventory of closest
Appalachian competitor
AR A B C D E F G H I J
(1) Antero C2+ NGL production represents the midpoint of 2019 guidance. Peer C2+ NGL production represents consensus as of 1/31/2019. Percentage of pre-hedge commodity revenues based on 3Q 2018 actuals.
Based on Antero analysis of undeveloped acreage in the core of the Marcellus and Utica plays. Peers include Ascent, CHK CNX, CVX, Equinor, EQT. GPOR, HG, RRC and SWN.
ANTERO RESOURCES | FEBRUARY 2019 PRESENTATION
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