Natural Gas Sales was Antero Resources’s largest product and service line in fiscal 2025, bringing in $2.87B of $5.28B (54%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Natural Gas Sales | $5.52B | $2.19B | $1.82B | $2.87B | |||||
| Natural Gas Liquids Sales | — | $1.84B | $2.07B | $1.99B | |||||
| Natural Gas Liquids Sales (C3+ Ngls) | $2.11B | — | — | — | |||||
| Marketing | $416.76M | $206.12M | $179.07M | $125.90M | |||||
| Oil Sales | $275.67M | $247.15M | $230.03M | $150.16M | |||||
| Natural Gas Liquids Sales (Ethane) | $384.08M | — | — | — | |||||
| Commodity Derivative Fair Value Gains | — | $166.32M | $731.00K | $111.05M | |||||
| Amortization Of Deferred Revenue, Vpp | — | $30.55M | $27.10M | $25.26M | |||||
| Gathering, Compression, Water Handling & Treatment | — | — | — | — | |||||
| Gathering & Compression | — | — | — | — | |||||
| Other Revenue & Income | — | $2.53M | $3.40M | $3.37M | |||||
| Water Handling & Treatment | — | — | — | — | |||||
| Total | $8.71B | $4.68B | $4.33B | $5.28B |
Antero Resources brought in $5.28B from its seven product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 22.0% from $4.33B in fiscal 2024. Natural Gas Sales was the largest at $2.87B (54.5%), ahead of Natural Gas Liquids Sales at $1.99B (37.7%) and Oil Sales at $150.16M (2.8%). The other four lines brought in $265.58M combined.
Compared with fiscal 2024, Commodity Derivative Fair Value Gains grew fastest, up 15,091.4% to $111.05M, while Oil Sales fell the most, down 34.7% to $150.16M.
Antero Resources began breaking out Commodity Derivative Fair Value Gains in fiscal 2023, Amortization Of Deferred Revenue, Vpp in fiscal 2023 and Other Revenue & Income in fiscal 2023. Antero Resources stopped reporting Natural Gas Liquids Sales (C3+ Ngls) ($2.11B in fiscal 2022) and Natural Gas Liquids Sales (Ethane) ($384.08M in fiscal 2022) as separate lines.
Exploration & Production was Antero Resources’s largest segment in fiscal 2025, bringing in $5.15B of $5.28B (98%).
| Segment | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Exploration & Production | $8.29B | $4.48B | $4.15B | $5.15B | |||||||||
| Antero Midstream Corporation | — | $1.04B | $1.11B | $1.19B | |||||||||
| Marketing | $416.76M | $206.12M | $179.07M | $125.90M | |||||||||
| Gathering & Compression | — | — | — | — | |||||||||
| Water Handling & Treatment | — | — | — | — | |||||||||
| Fresh Water Distribution | — | — | — | — | |||||||||
| Eliminations | — | — | — | — | |||||||||
| Elimination Of Unconsolidated Affiliate | — | -$1.04B | -$1.11B | -$1.19B | |||||||||
| Elimination Of Intersegment Transaction | — | — | — | — | |||||||||
| Total | $8.71B | $4.68B | $4.33B | $5.28B |
Antero Resources brought in $5.28B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 22.0% from $4.33B in fiscal 2024. Exploration & Production was the largest at $5.15B (97.6%), ahead of Antero Midstream Corporation at $1.19B (22.5%) and Marketing at $125.90M (2.4%).
Compared with fiscal 2024, Exploration & Production grew fastest, up 24.2% to $5.15B, while Marketing fell the most, down 29.7% to $125.90M.
Antero Resources began breaking out Elimination Of Unconsolidated Affiliate in fiscal 2023, when it brought in -$1.04B. The total is net of Elimination Of Unconsolidated Affiliate, which took $1.19B off revenue in fiscal 2025.
Antero Resources Llc was Antero Resources’s largest revenue line in fiscal 2014, bringing in $2.72B of $2.74B (99%).
| Legal Entity | FY 2014 |
|---|---|
| Antero Resources Llc | $2.72B |
| Non-Guarantor Subsidiaries | $25.18M |
| Total | $2.74B |
Antero Resources brought in $2.74B from its two revenue lines in fiscal 2014, the year ended December 31, 2014. Antero Resources Llc was the largest at $2.72B (99.1%), ahead of Non-Guarantor Subsidiaries at $25.18M (0.9%).
Antero Resources (AR) reports its revenue by product and service, by segment and by legal entity. In fiscal 2025, Natural Gas Sales was its largest product and service line, bringing in $2.87B (54.5% of the total), followed by Natural Gas Liquids Sales at $1.99B (37.7%).
Natural Gas Sales was Antero Resources' largest product and service line in fiscal 2025, bringing in $2.87B, or 54.5% of the $5.28B total across its seven product and service lines.
Exploration & Production was Antero Resources' largest segment in fiscal 2025, bringing in $5.15B, or 97.6% of the $5.28B total across its four segments.
Antero Resources Llc was Antero Resources' largest revenue line in fiscal 2014, bringing in $2.72B, or 99.1% of the $2.74B total across its two revenue lines.
Among Antero Resources' product and service lines that make up at least 2% of revenue, Commodity Derivative Fair Value Gains grew fastest in fiscal 2025, up 15,091.4% from $731.00K to $111.05M.
Every figure comes from Antero Resources' annual financial filings, as reported. Each line keeps the name Antero Resources gives it, and years follow its fiscal calendar.
Antero Resources' revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.