Antero Resources Corporation (AR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the Antero Resources Corporation's Second Quarter twenty twenty six Earnings Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce Dan Katzenberg, Vice President of Investor Relations. Thank you. You may begin. Thank you for joining us for Antero's second quarter twenty twenty six investor conference call. We'll spend a few minutes going through the financial and operating highlights, then we'll open it up for Q and A. I would also like to direct you to the homepage of our website at anteroresources.com, where we have provided a separate earnings call presentation that will be reviewed during today's call. Today's call may contain certain non GAAP financial measures. Please refer to the earnings press release for important disclosures regarding such measures. Joining me on the call today are Michael Kennedy, CEO and President Lenny Krueger, CFO Dave Camelago, Senior Vice President of Liquids Marketing and Transportation Justin Fowler, Senior Vice President of Natural Gas Marketing. Will now turn the call over to Mike. Thank you, Dan, and good morning, everyone. I'll start on Slide three titled Structural Margin Improvement at Antero. This structural improvement has strengthened our financial performance and importantly reduced earnings volatility. The results of this strategy can be seen in the table on the right side of the slide. While Henry Hub natural gas prices were down 16% from a year ago, the impact of increased scale, product diversity, and lower cash operating expense led to our adjusted EBITDAX increasing 57% over that period. These structural sustainable improvements in o...