Antero Resources Corporation announced its financial and operating results for the quarter ended September 30, 2026, on October 28, 2026. The company reported a company record for net production, averaging 4.2 billion cubic feet of gas equivalent per day (Bcfe/d) during the third quarter. This figure represents a 23% increase compared to the same period in the prior year.
Financially, the company reported net income of $367 million. Antero also highlighted non-GAAP metrics, reporting Adjusted Net Income of $256 million and Adjusted EBITDAX of $634 million. These non-GAAP figures reflect a 99% increase in Adjusted EBITDAX compared to the prior year period. The company generated $575 million in net cash provided by operating activities and $215 million in Adjusted Free Cash Flow, which represents a 137% increase over the year-ago period.
Operational efficiency improvements were a key theme in the report. Total cash operating costs were reported at $2.05 per Mcfe, a decrease of $0.39 per Mcfe, or 16%, from the third quarter of 2025. The company also completed its longest horizontal lateral length in its history, reaching approximately 25,000 feet.
Antero updated its guidance for the fourth quarter of 2026. The company expects net daily natural gas equivalent production to be approximately 4.3 Bcfe/d, though this includes an estimated 15 to 20 Bcfe of curtailments driven by low regional pricing. Cash production expense is expected to be in the range of $2.10 to $2.20 per Mcfe. The company also provided details on its natural gas hedge program, noting weighted average index prices for added 2027 and 2028 volumes of $3.54 and $3.49 per MMBtu, respectively.
In terms of capital allocation, Antero purchased 1.6 million shares for approximately $56 million during the quarter. The company has approximately $821 million of capacity remaining under its share repurchase program. Additionally, the company is targeting a $1.2 billion drilling and completion capital budget for the full year 2026.
