Betty John's questions to Antero Resources Corp (AR) leadership • Q4 2024
Question
Betty John asked for the long-term outlook on C3+ NGL premiums, considering Gulf Coast export dynamics and Antero's marketing efforts. She also inquired about the long-term evolution of the company's liquids mix.
Answer
SVP of Liquids Marketing Dave Cannelongo explained the strong 2025 premium guidance is supported by locked-in export volumes, the full-year benefit of its domestic marketing plan, and a favorable butane contract repricing. While the export market will influence future years, he noted high Mont Belvieu prices are also beneficial. CFO Michael Kennedy added that the liquids mix should remain similar to the current level of around 38%.