Antero Resources Corp T.AR

Primary Symbol: AR

Energy Oil & Gas E&P

Antero Resources Corporation is an independent natural gas and natural gas liquids (NGLs) company. The Company is engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia and Ohio. The Company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies provide the means to economically develop and produce natural gas, NGLs and oil from unconventional formations. The Company operates through three segments: the exploration, development, and production of natural gas, NGLs and oil; marketing of excess firm transportation capacity; and midstream services through its equity method investment in Antero Midstream Corporation (Antero Midstream). The Company holds approximately 515,000 net acres of natural gas, NGLs and oil properties located in the Appalachian Basin, primarily in West Virginia and Ohio.

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Antero Resources Corp > Cost up 60 mil

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Post by pppon Feb 27, 2023 12:18pm

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Post# 35307357

Cost up 60 mil

The Company projects the Magino project’s estimated cost to completion (“EAC”) will be $755 million (CA$980 million), an increase from the $730 million (CA$920 million) announced during the second quarter of 2022. The increase in costs were largely attributed to: (i) an anticipated 45-day delay in first gold pour from a trade strike and site fatality, which results in higher capitalized overheads; (ii) higher earthworks costs related to higher fuel prices and scope changes; (iii) higher power costs; and (iv) changes to reduce risks in the mine plan, partially offset by the weakening of the Canadian dollar against the US dollar.

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