April 14, 2016 Antero Resources Announces First Quarter 2016 Operations Update

Marcellus Shale — Antero completed and placed on line 14 horizontal Marcellus wells during the fourth quarter of 2015. The average lateral length for the 14 wells was approximately 7,777 feet and the average stage length was approximately 202 feet. During the quarter, Antero drilled and cased the longest lateral in Company history, the Nova Unit 2H, which had a lateral length of 14,024 feet.

Ten of the 14 wells completed in the fourth quarter of 2015 have been on line for more than 30 days and had an average 30-day rate of 14.9 MMcfe/d while rejecting ethane (26% liquids). Antero is currently operating seven drilling rigs and four completion crews in the Marcellus Shale play.

Additional Info:

Marcellus Shale

Antero has over 425,000 net acres of leasehold located in northern West Virginia and southwestern Pennsylvania, all in the southwestern core of the Marcellus Shale Play.

  • Operating 7 drilling rigs in West Virginia.
  • Production in the Marcellus Shale has averaged 1,232 MMcfe per day in the first quarter of 2016. The net daily production figure includes approximately 46,900 Bbls per day of NGLs and oil.
  • Antero has drilled and completed 452 horizontal Marcellus Shale wells, all of which are on line.
  • Antero is constructing its own gathering facilities in Doddridge, Tyler and Ritchie Counties, WV to connect its wells to compression facilities and processing.
  • Antero is currently processing over 900 MMcf per day of rich gas production from the Marcellus Shale through MarkWest’s 1,200 MMcf per day Sherwood plant complex.
  • Markwest is constructing a seventh 200 MMcf per day plant, Sherwood 7, which is expected to go in service in the second quarter of 2016.

Good report Arnold…