Antero - Utica Shale assets
Antero Resources Corporation (NYSE: AR) is an independent natural gas and NGL producer operating 537,000 net acres in the Appalachian Basin, producing 3.5 Bcfe/d and supplying 2.1 Bcf/d to LNG export facilities, domestic power generators, and petrochemical customers.
- Company typePublic
- Founded2002
- HeadquartersDenver, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Antero - Utica Shale assets does
Antero Utica Shale assets is a portfolio of oil and natural gas properties and associated infrastructure operated by Antero Resources Corporation (NYSE: AR), an independent upstream energy company headquartered in Denver, Colorado, founded in 2002. The Utica-focused portion of the asset base sits within the company's broader 537,000 net acre position in the Appalachian Basin, primarily in West Virginia and Ohio. The company produces natural gas, natural gas liquids (NGLs), and crude oil from unconventional shale formations using horizontal drilling and advanced multi-stage fracture stimulation, with operational records of 16.1 stages per day over an entire pad and average lateral lengths of 14,600 feet. As of December 31, 2025, proved reserves stood at 19.1 Tcfe with a PV-10 of $9.679 billion, and Q4 2025 net production averaged 3.5 Bcfe/d.
The business operates across three reportable segments: (1) Exploration and Production of natural gas, NGLs, and oil; (2) Equity Method Investment in Antero Midstream Corporation (NYSE: AM), a 29%-owned affiliate providing gathering, compression, processing, fractionation, and water handling services; and (3) Marketing of excess firm transportation capacity. Revenue is generated on a usage-based, commodity-indexed pricing model tied to NYMEX Henry Hub for natural gas (with realized premium of $0.16/Mcf in Q4 2025), Mont Belvieu for NGLs, and WTI for oil. Antero is the largest U.S. natural gas producer and 5th largest U.S. NGL producer, supplying 2.1 Bcf/d to LNG export facilities and serving domestic power generation, data center, industrial, and petrochemical customers.
In late 2025, Antero announced two simultaneous strategic transactions reshaping the asset base: a $2.8 billion acquisition of HG Energy II Production Holdings adding approximately 385,000 net acres in the core West Virginia Marcellus (closed February 3, 2026), and an $800 million divestiture of substantially all Ohio Utica Shale assets to Northern Oil and Gas and Infinity Natural Resources (closing by end of Q1 2026). The combined effect repositions the company toward the higher-quality core of the Marcellus Shale while monetizing the Utica position. Leadership transitioned in August 2024 when co-founder Paul M. Rady stepped to Chairman Emeritus and Michael N. Kennedy became CEO and President. FY2025 consolidated revenue was $5.276 billion with full-year net income attributable to Antero Resources of $634.4 million.
Antero - Utica Shale assets firmographics
Firmographics- Name
- Antero - Utica Shale assets
- Legal name
- Antero Resources Corporation
- Website
- https://anteroresources.com
- Company type
- Public
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Antero Resources Corporation (NYSE: AR) is an independent natural gas and NGL producer operating 537,000 net acres in the Appalachian Basin, producing 3.5 Bcfe/d and supplying 2.1 Bcf/d to LNG export facilities, domestic power generators, and petrochemical customers.
- Ownership category
- akta.pro rank
Antero - Utica Shale assets industry classification
Industry- Product category
- Upstream Oil and Gas Exploration and Production
- NAICS
- Natural Gas Extraction (211130), Oil and Gas Extraction (2111)
- SIC
- Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)
- akta.pro secondary industries
- Unconventional Gas E&P (Shale/Tight Gas) (EUAAAAAC), Gas Processing Plant Residue Gas & NGL Takeaway (Midstream Interface) (EUAAACAK)
Keywords
Where Antero - Utica Shale assets is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Antero - Utica Shale assets business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D
Revenue model
- Natural Gas Sales: Revenue from selling natural gas produced from Appalachian Basin operations, with realized pre-hedge prices of $3.71 per Mcf in Q4 2025 and $0.16 premium to NYMEX benchmark.
- NGL Sales (C3+ and Ethane): Revenue from natural gas liquids including ethane and propane/butane/propane mixtures. Q4 2025 C3+ NGL realized price was $35.41 per barrel with $1.52 premium to Mont Belvieu.
- Oil Sales: Revenue from crude oil production. Q4 2025 realized oil price was $45.99 per barrel.
- Marketing Revenue: Revenue from marketing activities including excess firm transportation capacity. Net marketing expense was $0.04 per Mcfe in Q4 2025.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Natural gas pricing with NYMEX Henry Hub basis |
| Usage-based | Pay-as-you-go | C3+ NGL pricing with Mont Belvieu basis |
| Usage-based | Pay-as-you-go | Ethane pricing with Mont Belvieu basis |
| Usage-based | Pay-as-you-go | Oil pricing with WTI basis |
Distribution channels3 records
Marketing channels3 records
Antero - Utica Shale assets product offering
Product offeringCore offering
Antero - Utica Shale assets are a portfolio of unconventional oil and natural gas properties located in Ohio within the Appalachian Basin, producing natural gas, natural gas liquids (NGLs), and crude oil/condensate. The assets are supported by gathering, processing and water handling infrastructure and are being divested as a packaged upstream and midstream unit for $800 million to Northern Oil and Gas and Infinity Natural Resources.
Product overview
Antero Resources operates as an independent natural gas and liquids company engaged in the acquisition, development, and production of unconventional oil and gas properties in the Appalachian Basin. The company operates a vertically integrated business platform with three reportable segments: (1) Exploration and Production (E&P) - the core business producing natural gas, NGLs, and oil from the Marcellus and Utica Shale formations; (2) Equity Method Investment in Antero Midstream - midstream services including gathering, compression, processing, and water handling through affiliated Antero Midstream Corporation; and (3) Marketing - marketing of excess firm transportation capacity. The company holds approximately 537,000 net acres primarily in West Virginia and Ohio, with proved reserves of 19.1 Tcfe as of December 31, 2025. Following the 2026 HG Energy acquisition and Utica Shale divestiture, the company's asset base is concentrated in the Marcellus Shale of West Virginia with access to multiple end markets through LNG exports and domestic pipelines.
Differentiator
Problem solved
Functional benefit
Products and services
- Natural Gas Production
- Natural Gas Liquids (NGLs) Production
- Crude Oil and Condensate Production
- Commodity Risk Management / Hedge Program
Quantifiable outcome
- Production growth from 3.5 Bcfe/d (Q4 2025) to 4.1 Bcfe/d (2026 guidance), increasing to 4.3 Bcfe/d in 2027 and potentially 4.5 Bcfe/d with discretionary growth capital
- +3 more outcomes
Companies that use Antero - Utica Shale assets
Customer profileSegments3 records
Ideal customer profiles3 records
Antero - Utica Shale assets technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Antero - Utica Shale assets partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Northern Oil and Gas (NOG)coreNorthern Oil and Gas acquired a 40% stake in Antero's Ohio Utica Shale assets for $480 million as part of the Utica divestiture. NOG is funding through cash, operating free cash flow, and borrowings from its reserves-based lending facility. Transaction expected to close end of Q1 2026.
- Infinity Natural Resources (INR)coreInfinity Natural Resources acquired a 60% stake in Antero's Ohio Utica Shale assets as part of the Utica divestiture. Combined with NOG's 40%, the total transaction value is $800 million for the Ohio Utica Shale Upstream and Midstream Assets.
- HG Energy II LLCcoreAntero acquired 100% of HG Energy II Production Holdings LLC for $2.8 billion, adding approximately 385,000 net acres in the core Marcellus Shale in West Virginia. Antero Midstream acquired HG Energy II Midstream Holdings LLC for $1.1 billion, including gathering pipelines and integrated water handling assets. Transactions closed February 3, 2026.
- MarkWest (MPLX, LP)coreJoint venture between Antero Midstream Partners (wholly owned subsidiary of Antero Midstream) and MarkWest for developing processing and fractionation assets in Appalachia. The joint venture develops processing and fractionation infrastructure critical to Antero's operations.
Scale indicators13 records
Recent moves7 records
Expansion highlights5 records
Antero - Utica Shale assets competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Antero - Utica Shale assets social profiles
Digital presenceAntero - Utica Shale assets financial estimates
Financial estimateRevenue estimate
Valuation estimate
Antero - Utica Shale assets leadership team
Management profileNumber of profiles
Profiles3 records
Antero - Utica Shale assets subsidiaries and ownership
Company hierarchySubsidiaries2 records
Antero - Utica Shale assets funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Antero - Utica Shale assets M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Antero - Utica Shale assets
What does Antero - Utica Shale assets do?
Antero - Utica Shale assets are a portfolio of unconventional oil and natural gas properties located in Ohio within the Appalachian Basin, producing natural gas, natural gas liquids (NGLs), and crude oil/condensate. The assets are supported by gathering, processing and water handling infrastructure and are being divested as a packaged upstream and midstream unit for $800 million to Northern Oil and Gas and Infinity Natural Resources.
Is Antero - Utica Shale assets a public or private company?
Antero - Utica Shale assets is a public company. It is classified as public and is currently operating.
When was Antero - Utica Shale assets founded?
Antero - Utica Shale assets was founded in 2002. It employs 501 to 1,000 people.
Where is Antero - Utica Shale assets based?
Antero - Utica Shale assets is headquartered in Denver, United States, in the North America region.
How does Antero - Utica Shale assets make money?
Four revenue lines are on record. Natural Gas Sales are the primary driver. The others are NGL Sales (C3+ and Ethane), oil Sales and marketing Revenue.
Does Antero - Utica Shale assets have an API?
No public API is recorded for Antero - Utica Shale assets.
What industry is Antero - Utica Shale assets in?
Antero - Utica Shale assets's product category is Upstream Oil and Gas Exploration and Production. Its primary akta.pro industry code is EUALAAAH, Unconventional Resources Development (Shale/Tight, CBM), with a secondary code of EUAAAAAC, Unconventional Gas E&P (Shale/Tight Gas). Its NAICS code is 211130 and its SIC code is 1311.