Antero Resources Corporation (NYSE:AR) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET

Company Participants

Brendan Krueger - Vice President, Finance

Paul Rady - Chairman, Chief Executive Officer & President

Dave Cannelongo - Senior Vice President, Liquids Marketing & Transportation

Michael Kennedy - Chief Financial Officer

Justin Fowler - Senior Vice President, Gas Marketing & Transportation

Conference Call Participants

Arun Jayaram - JPMorgan

Neal Dingmann - Truist

Umang Choudhary - Goldman Sachs

Subash Chandra - Benchmark Company

Kevin MacCurdy - Pickering

David Deckelbaum - Cowen

Vin Lovaglio - Mizuho

Operator

Greetings and welcome to the Antero Resources 2Q 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded.

It is now my pleasure to introduce your host Brendan Krueger, Vice President of Finance. You may begin.

Brendan Krueger

Thank you operator. Thank you for joining us for Antero's second quarter 2022 investor conference call. We'll spend a few minutes going through the financial and operating highlights and then we'll open it up for Q&A.

I would also like to direct you to the Home Page of our website at www.anteroresources.com where we have provided a separate earnings call presentation that will be reviewed during today's call.

Before we start our comments, I would like to first remind you that during this call, Antero management will make forward-looking statements. Such statements are based on our current judgments regarding factors that will impact the future performance of Antero and are subject to a number of risks and uncertainties many of which are beyond Antero's control.

Actual outcomes and results could materially differ from what is expressed, implied, or forecast in such statements. Today's call may also contain certain non-GAAP financial measures. Please refer to our earnings press release for important disclosures regarding such measures including reconciliations to the most comparable GAAP financial measures.

Joining me on the call today are Paul Rady, Chairman, CEO, and President; Michael Kennedy, CFO; Justin Fowler, Senior Vice President of Gas Marketing and Transportation; and Dave Cannelongo, Senior Vice President of Liquids Marketing and Transportation.

I will now turn the call over to Paul.

Paul Rady

Thanks Brendan. The second quarter was an exceptional quarter for Antero both operationally and financially. We delivered quarterly company records for adjusted EBITDAX and free cash flow. We reduced debt by nearly $400 million while also accelerating capital returns to our shareholders. Behind these excellent results is consistently strong well performance.