Capital ExpenditureAntero reduced its soft guide for D&C capex by $25mm at the midpoint to $650-700mm, which would be an increase of 10% y/y.
Cost GuidancePricing improvements are somewhat offset by production cost guidance of $2.50/Mcf, vs. $2.42/Mcf in 2024.
ValuationThe stock is trading at higher EV/EBITDA multiples compared to the peer average, which could indicate a valuation concern.