Antero Resources (AR) revenue breakdown
By segment, Exploration and production is the largest at 80% of fiscal 2025 revenue, growing 16% a year over 9 years.
By product, Natural gas sales is the largest at 54% of fiscal 2025 revenue; Natural gas liquids sales grew fastest, 18% a year over 9 years.
Revenue by segment
Fiscal years, as Antero Resources reports them in its 10-K filings; fiscal 2025 total $6.5B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Exploration and production | $1.3B | $3.4B | $3.5B | $4.1B | $3.2B | $3.9B | $6.7B | $4.5B | $4.1B | $5.1B | 80% |
| Antero Midstream Corporation | — | — | $1.0B | $793M | $901M | $898M | $920M | $1.0B | $1.1B | $1.2B | 18% |
| Marketing | $393M | $237M | $553M | $292M | $311M | $719M | $417M | $206M | $179M | $126M | 2% |
| Gathering and compression | $16M | — | — | — | — | — | — | — | — | — | — |
| Water handling and treatment | $792,000 | — | — | — | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Antero Resources reports them in its 10-K filings; fiscal 2025 total $5.3B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Natural gas sales | $1.3B | $1.8B | $2.3B | $2.2B | $1.8B | $3.4B | $5.5B | $2.2B | $1.8B | $2.9B | 54% |
| Natural gas liquids sales | $433M | $870M | $1.2B | $1.2B | $1.2B | $2.1B | $2.5B | $1.8B | $2.1B | $2.0B | 38% |
| Oil sales | $61M | $108M | $187M | $178M | $112M | $201M | $276M | $247M | $230M | $150M | 3% |
| Marketing | $393M | $258M | $459M | $292M | $311M | $719M | $417M | $206M | $179M | $126M | 2% |
| Commodity derivative fair value gains | — | — | — | — | — | -$1.9B | -$1.6B | $166M | $731,000 | $111M | 2% |
| Amortization of deferred revenue, VPP | — | — | — | — | — | $45M | $38M | $31M | $27M | $25M | 0% |
| Other revenue and income | — | — | — | — | — | $1M | $5M | $3M | $3M | $3M | 0% |
| Gathering, compression, water handling and treatment | $13M | $13M | $21M | — | — | — | — | — | — | — | — |
| Gathering, compression, water handling and treatment, processing, and transportation | — | — | — | $4M | — | — | — | — | — | — | — |
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Where does Antero Resources make its money?
In fiscal 2025, by segment: Exploration and production $5.1B, Antero Midstream Corporation $1.2B, Marketing $126M.
From Antero Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.