| Stage | AM | % of rev | AR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $350M | 100.00% | $1.6B | 100.00% | AR ×4.47 |
| Gross profit | $267M | 76.21% | $780M | 49.92% | AM +26.3pp |
| Operating income | $557M | 159.26% | $392M | 25.07% | AM +134.2pp |
| Pre-tax income | $533M | 152.27% | $464M | 29.66% | AM +122.6pp |
| Net income | $393M | 112.22% | $367M | 23.49% | AM +88.7pp |
| Stage | AM | AR | Gap · A − B |
|---|---|---|---|
| Revenue | $350M100.00% | $1.6B100.00% | AR ×4.47 |
| Gross profit | 76.21%$267M | 49.92%$780M | AM +26.3pp |
| Operating income | 159.26%$557M | 25.07%$392M | AM +134.2pp |
| Pre-tax income | 152.27%$533M | 29.66%$464M | AM +122.6pp |
| Net income |
| 112.22%$393M |
| 23.49%$367M |
| AM +88.7pp |
AM 10-KFeb 11 '26
“10.27*** Purchase and Sale Agreement, among Antero Midstream LLC, Antero Water LLC, Antero Treatment LLC, Infinity Natural Resources LLC and Northern Oil and Gas, Inc., dated December 5, 2025 (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (Commission File No. 001-38075) filed on December 8, 2025).”
AR 10-KFeb 11 '26
“Purchase and Sale Agreement, among Antero Resources Corporation, Antero Minerals LLC, Monroe Pipeline LLC, Infinity Natural Resources, LLC and Northern Oil and Gas Inc., dated December 5, 2025 (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (Commission File No. 001-36120) filed on December 8, 2025).”