Antero Resources Corp. reported surging natural gas production once again during the third quarter, with volumes reaching 1.08 Bcfe/d, up 21% from the second quarter and almost double from year-ago volumes (see Shale Daily, Aug. 8; Nov. 8, 2013).
The Appalachian pure-play has now completed and brought online 361 unconventional wells in the Marcellus and Utica shales of Ohio and West Virginia since it started operations in the basin in 2009. Antero operated 15 rigs in West Virginia in the third quarter with seven running in Ohio.
Average liquids production was 25,000 b/d, or a 217% increase over the same time in 2013, as the company has switched its focus in recent quarters to producing more wet gas. Since last year, the company has been using short stage lengths (SSL), or horizontal hydraulic fracturing (fracking) stages that are less than 225 feet in length, to complete its Marcellus wells. Those continue to improve type curves by 20-30% in the play, Antero said (see Shale Daily, Feb. 27).
The company has 90 horizontal wells in the Marcellus that are in various stages of development and another two waiting on pipeline connections. In the Utica Shale, it has 26 horizontal wells in various stages of development and plans to complete another nine by year's end.
After hedging, the company said natural gas prices for the third quarter averaged $4.31/Mcf, a 25 cent positive differential to the New York Mercantile Exchange price.