Antero cuts costs, boosts production in third quarter
Monday, November 11, 2019
Antero Resources saw a 24% increase in production during the third quarter over the same period a year earlier, despite capital spending cutbacks, according to Kallanish Energy.
Antero’s net daily natural gas-equivalent production averaged 3.37 billion cubic feet equivalent per day in the third quarter. Its production was composed of 32% liquids.
The company’s drilling and completion capital spending in the quarter totaled $290 million — the lowest quarterly spending since its 2013 IPO.
Learn more: Kallanish Energy > Antero boosts Q3 production while cutting costs
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.