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Antero Resources
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May 2024 Investor Presentation
| Paul Rudy | Page 6 of 11 |
May 20, 2024
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"May 2024 Investor Presentation"
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Antero Resources (NYSE: AR) 0 100 200 300 400 500 600 700 800 0 6 12 18 24 Normalized Cumulative Gas Equivalent (MMcfe/1,000') Months On Line Antero Wells Continue to Outperform Peers AR Cumulative Well Productivity vs. Peers (MMcfe/1,000’) Antero leads its Appalachian peers in well productivity trends, and importantly, continues to increase its liquids productivity 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 150 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. Since 2020 Peer Average (1) +24% vs peer avg 1) Peers include EQT, RRC and SWN (SW Marcellus wells). Operator Well Count Lateral Length (ft) 288 12,509 Peer Average (1) 812 12,361 6