Antero Resources sees Q1 net production flat with Q4
The company's first quarter 2018 net production is estimated to be flat with the fourth quarter 2017 net production due primarily to the timing of completions throughout 2018, the impact from severe winter weather on the Sherwood processing plant operations in the West Virginia Marcellus in the early part of January, and a shutdown for several days at the Seneca plant in the Ohio Utica due to a third-party downstream pipeline rupture. Both of these processing plant issues have since been rectified. The company continues to expect to meet its full year 2018 net production guidance of approximately 2.7 Bcfe/d. Additionally, the extreme cold weather in January resulted in attractive pricing on natural gas sales and the ability to generate significant marketing revenues during the first quarter of 2018 that more than offset the reduced production. Antero is now forecasting a net marketing gain for the first quarter of 2018 and is reducing its net marketing expense guidance for the full year of 2018 to a range of $0.10/Mcfe to $0.125/Mcfe.