Antero Midstream Partners Investor Presentation Deck
Sustainable and De-risked Development Plan
Antero Resources is 100% hedged on natural gas through 2019; Hedges and
FT provide price stability to support sustainable long-term development
Hedge Portfolio Supports
Firm Commitments
Firm Transportation Portfolio
Allows Antero Resources to Achieve:
Premium Price Hedge NYMEX
Index
Certainty
Less volatility and
greater surety in
realized prices
A key advantage as
our product is
delivered to NYMEX-
related markets
Antero Natural Gas Differentials vs. Appalachia
Appalachia
Antero Realized Differential
▪▪▪▪3-Year Appalachian Average ■■■■3-Year Antero Realized Basis
$1.00
$0.50
$0.00
($0.50)
($1.00)
($1.50)
($2.00)
($2.50)
Reflects discount to NYMEX for Appalachia in-basin pricing at Dominion South & TETCO M2 indices.
Represents simple average discount to NYMEX for Antero firm transportation capacity.
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MA
Oct-14
Jan-15
Antero: Resources Diversified - Low Volatility
Apr-15
Appalachia: Floating - High Volatility
Jul-15
Oct-15
Jan-16
Apr-16
Note: Pricing reflects pre-hedge pricing
Jul-16
Oct-16
Jan-17
Apr-17
LL-INC
Oct-17
Jan-18
($0,01)
пл
($0.91)
Apr-18
Jul-18
Sept-18
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