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Antero Resources' Co-founder Glen Warren Announces Retirement

Antero Resources Corporation AR and its subsidiary Antero Midstream Partners AM announced the retirement of Glen Warren, who co-founded this shale producer in the Appalachian region of the United States.

Notably, the effective date of his retirement is expected to be Apr 30, 2021. Warren will retire as president and CFO of the company, and as president of its pipeline business Antero Midstream. Also, he will stand down from the companies’ board of directors as of the same date.

Since the company’s entry into the Appalachian region in 2008, Warren played a crucial role in making Antero Resources the second-largest NGL producer and the third-largest natural gas producer in the United States. Moreover, in 2012, the company formed Antero Midstream to own, operate and develop midstream energy infrastructure to serve its increasing production.

Under his co-leadership, Antero Resources generated a significant amount of free cash flow and expects to reduce leverage in 2021. Notably, the company has a declining leverage profile, with one of the strongest balance sheets in the midstream industry.

Currently, Antero Resources owns 515,000 net acres of oil and gas properties located in the Appalachian Basin. In 2020, the company produced more than 3.5 Bcfe/d, which includes nearly 200,000 barrels of liquids per day. Antero Midstream, which has an enterprise value of more than $7 billion, has the most comprehensive liquid midstream system in the Appalachian region.

Glen Warren has been a highly-regarded leader of the company, who was the finder of Antero Resources alongside Paul Rady in 2002. The pair has been successfully running the businesses and was able to raise capital. Notably, Rady will take on the president title at both companies.

Company Profile

Headquartered in Denver, CO, Antero Resources is an independent exploration and production company.

Zacks Rank & Other Stocks to Consider

The company currently carries a Zack Rank #2 (Buy).

Some other top-ranked players in the energy space are PetroChina Company Limited PTR, currently flaunting a Zacks Rank #1 (Strong Buy) and Viper Energy Partners LP VNOM, carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

PetroChina’s earnings for 2021 are expected to grow 45.5% year over year.

Viper Energy’s earnings for 2021 are expected to rise 51.7% year over year.

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PetroChina Company Limited (PTR): Free Stock Analysis Report
 
Antero Midstream Corporation (AM): Free Stock Analysis Report
 
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Antero Resources Corporation (AR): Free Stock Analysis Report
 
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