Antero Resources Publishes Corporate Sustainability Report and Sets 2025 Environmental Goals

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Oct 05, 2020, 07:30 ET

DENVER, Oct. 5, 2020 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero Resources" or the "Company") today announced the publication of its 2019 Corporate Sustainability Report. The report details Antero's ongoing commitment to environmental excellence, strong governance, safe operations and the communities in which it operates. The full report is available at www.anteroresources.com/sustainability/founders-message.

Report Highlights:

Environmental Leadership

Reduced GHG intensity by 39% between 2016 and 2019, to one of the lowest levels in the industry
Methane leak loss rate in 2019 was 0.046%, compared to the ONE Future industry and sector targets of 1.00% and 0.280%, respectively
88% of total produced and flowback water generated was reused and 41% of total water used was recycled and reused water, year to date 2020

Safety Culture and Outstanding Results

6 straight years without an employee Lost Time Incident
Lost Time Incident Rate of 0.026 and Total Recordable Incident Rate of 0.285 in 2019 are some of the lowest in the industry
7,556 employee safety training hours in 2019

Strong Governance and Gender Diversity

67% of the Board of Directors is independent
Established Environmental, Sustainability and Social Governance (ESG) Committee of Board of Directors in 2020
33% of Independent Directors and 22% of senior leadership including multiple department heads are female

Community Engagement

Established The Antero Foundation
$570,000 contributed to community and civic organizations in 2019
3,200 employee hours volunteered in 2019

2025 Environmental Goals:

50% reduction in methane leak loss rate to under 0.025%
10% reduction in GHG intensity
Endeavor to achieve net zero carbon emissions through operational improvements and carbon offsets
Align with TCFD and SASB guidelines in the meantime

Paul Rady, Chairman and Chief Executive Officer of Antero Resources commented, "Our outstanding ESG performance exemplifies our unwavering and long-standing commitment to make every effort to do the right thing, take accountability for our actions and maintain our position as a world-class sustainable energy producer, partner and employer of choice. We are dedicated to adapting and leading, and operating ethically and responsibly. This commitment is evident in our performance and culture as we proactively care for our employees, contractors, community and the environment."

Glen Warren, CFO and President of Antero Resources said, "Natural gas is key to the energy transition and our ability to address the risks associated with climate change. As the lightest and least greenhouse gas (GHG) intensive hydrocarbon, natural gas is just as important as wind and solar in the energy mix that allows the U.S. and the globe to transition to a lower carbon future. Natural gas is a transition fuel and part of the solution. Investors, creditors, the communities in which we operate, and employees can be stakeholders in a hydrocarbon business that is natural gas focused while at the same time meeting high ESG standards."

Presentation

The Company posted its 2019 Corporate Sustainability Report presentation on its website at www.anteroresources.com/sustainability/founders-message. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into, this press release.

Antero Resources is an independent natural gas and natural gas liquids company engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia and Ohio. In conjunction with its affiliate, Antero Midstream (NYSE: AM), Antero is one of the most integrated natural gas producers in the U.S. The Company's website is located at www.anteroresources.com.

While Antero Resources believes all historical calculations presented in this release and the Corporate Sustainability Report were completed consistent with current industry standards, the numbers provided have not been audited by a third party audit firm.

This release includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Resources' control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Resources expects, believes or anticipates will or may occur in the future, such as those regarding our strategy, future operations and forecasts of future events, including our environmental goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this release. These forward-looking statements are management's belief, based on currently available information, as to the outcome and timing of future events. Although Antero Resources believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Resources expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.

In addition, many of the standards and metrics used in preparing this release and the Corporate Sustainability Report continue to evolve and are based on management expectations and assumptions believed to be reasonable at the time of preparation but should not be considered guarantees. The standards and metrics used, and the expectations and assumptions they are based on, have not been verified by any third party.

Antero Resources cautions you that these forward-looking statements are subject to all of the risks and uncertainties, incident to the exploration for and development, production, gathering and sale of natural gas, NGLs and oil most of which are difficult to predict and many of which are beyond the Antero Resources' control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, impacts of world health event, including the COVID-19 pandemic, potential shut-ins of production due to lack of downstream demand or storage capacity and the other risks described under the heading " Risk Factors" in Antero Resources' filings with the SEC.

This release and the Corporate Sustainability Report contain statements based on hypothetical or severely adverse scenarios and assumptions, and these statements should not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. While future events discussed in this release or the report may be significant, any significance should not be read as necessarily rising to the level of materiality of certain disclosures included in Antero Resources' SEC filings.

SOURCE Antero Resources Corporation