Exhibit 99.1

Antero Resources Reports First Quarter 2022 Financial and Operational Results

Denver, Colorado, April 27, 2022—Antero Resources Corporation (NYSE: AR) (“Antero Resources”, “Antero”, or the “Company”) today announced its first quarter 2022 financial and operating results. The relevant consolidated financial statements are included in Antero Resources’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2022.

First Quarter 2022 Highlights Include:

o  Realized pre-hedge natural gas price of $5.01 per Mcf, a $0.06 per Mcf premium to NYMEX pricing

o  Realized C3+ NGL price of $61.55 per barrel, or 65% of WTI, a 51% increase from the prior year period

Paul Rady, Chairman, Chief Executive Officer and President of Antero Resources commented, “Antero’s first quarter results highlight our substantial exposure to rising commodity prices. We realized the highest quarterly NGL price in company history and benefited from direct exposure to NYMEX natural gas prices. During the quarter we sold approximately 75% of our natural gas into NYMEX-priced natural gas hubs, including the LNG fairway along the Gulf Coast and the Cove Point LNG facility in the Mid-Atlantic region. As LNG export demand increases, we are uniquely positioned to benefit from increasing prices due to our 2.3 Bcf/d of firm transportation delivered into these LNG fairways. We are currently selling nearly 1 Bcf/d of natural gas directly to LNG facilities on a mix of long-term and short-term contracts. As this market grows and develops we intend to utilize our significant firm transportation portfolio to increase our exposure.”

Michael Kennedy, Chief Financial Officer of Antero Resources said, “We initiated our return of capital program by repurchasing $100 million of AR shares during the last six weeks of the first quarter, which approximated 25% of our first quarter Free Cash Flow estimate. As previously communicated, we expect to use approximately 25% of Free Cash Flow for share repurchases until the borrowings on our credit facility are repaid. Our current estimate forecasts the credit facility to be repaid later in the second quarter and we then intend to increase our return of capital to greater than 50% of Free Cash Flow. Looking ahead, we expect in excess of $2.5 billion of Free Cash Flow in 2022 and approximately $10 billion of Free Cash Flow through 2026, based on current commodity prices. This Free Cash Flow outlook allows us to continue to reduce debt while also returning substantial capital to our shareholders.”

For a discussion of the non-GAAP financial measures including Adjusted Net Income, Adjusted EBITDAX, Free Cash Flow and Net Debt please see “Non-GAAP Financial Measures.”

Debt Reduction

As of March 31, 2022, Antero’s total debt was $1.96 billion, including $388 million of borrowings under the Company’s revolving credit facility. Net Debt to trailing twelve month Adjusted EBITDAX was 1.1x. During the first quarter, Antero redeemed all $585 million of outstanding senior notes due 2025 at 101.25% of par, plus accrued and unpaid interest. The Company used cash on hand and borrowings under its revolving credit facility to fund this senior note redemption. Borrowings under the credit facility utilized to fund the redemption are expected to be paid down during the second quarter of 2022 with Free Cash Flow.

Share Repurchase Program

In February, Antero’s Board of Directors authorized a share repurchase program for the Company to repurchase up to $1.0 billion of its outstanding common stock. During the first quarter of 2022, Antero repurchased 3.7 million shares for $100 million at an average share price of $27.11.

Free Cash Flow

During the first quarter, Antero generated $465 million of Free Cash Flow before Changes in Working Capital. Free Cash Flow after Changes in Working Capital was $315 million.

⁽¹⁾  Working capital adjustments in the first quarter of 2022 include $136.0 million in changes in current assets and current liabilities and a $14.5 million decrease in accounts payable and accrued liabilities for additions to property and equipment.

First Quarter 2022 Financial Results

Net loss was $156 million, or $0.50 per diluted share, compared to net loss of $15 million, or $0.05 per diluted share, in the prior year period. Adjusted Net Income was $360 million, or $1.15 per diluted share, compared to Adjusted Net Income of $183 million, or $0.62 per diluted share, in the prior year period.

Adjusted EBITDAX was $707 million, a 36% increase compared to the prior year quarter, driven by higher realized natural gas and NGL prices.

Net daily natural gas equivalent production in the first quarter averaged 3.2 Bcfe/d, including 160 MBbl/d of liquids, as detailed in the table below. As completion activity accelerates through the second quarter of 2022, production is expected to increase to a range of 3.3 to 3.4 Bcfe/d in the second half of 2022.

Antero’s average realized natural gas price before hedging was $5.01 per Mcf, representing a 44% increase compared to the prior year period. Antero realized a $0.06 per Mcf premium to the average NYMEX Henry Hub. The premium to NYMEX was negatively impacted by the sharp increase in the natural gas price on the final trading day for the February natural gas contract, resulting in a settlement price of $6.27 per Mcf, followed by a subsequent decline in natural gas daily prices for the month. However, Antero expects realized natural gas prices, before hedges, to be a premium of $0.15 to $0.25 per Mcf for the full year 2022, unchanged from prior guidance. Antero’s ability to capture a premium to NYMEX is a result of selling the majority of its gas into the NYMEX-based LNG fairways. In the first quarter, Antero sold approximately 75% of its natural gas into these premium priced, NYMEX-related hubs.

The following table details the components of average net production and average realized prices for the three months ended March 31, 2022:

⁽¹⁾   These commodity derivative instruments include contracts attributable to Martica Holdings LLC (“Martica”), Antero’s consolidated variable interest entity. All gains or losses from Martica’s derivative instruments are fully attributable to the noncontrolling interests in Martica, which includes portions of the natural gas and all oil and C3+ NGL derivative instruments during the three months ended March 31, 2022.

Antero’s average realized C3+ NGL price was $61.55 per barrel, a 51% increase versus the prior year period. Antero shipped 53% of its total C3+ NGL net production on Mariner East 2 for export and realized a $0.04 per gallon premium to Mont Belvieu pricing on these volumes at Marcus Hook, PA. Antero sold the remaining 47% of C3+ NGL net production at a $0.04 per gallon discount to Mont Belvieu pricing at Hopedale, OH. The resulting blended price on 107,086 Bbl/d of net C3+ NGL production was $61.14 per barrel, which was flat with Mont Belvieu pricing.

All-in cash expense, which includes lease operating, gathering, compression, processing and transportation, production and ad valorem taxes was $2.33 per Mcfe in the first quarter, a 3% increase compared to $2.26 per Mcfe average during the first quarter of 2021. The increase was due primarily to higher production taxes as a result of higher commodity prices during the quarter.

Net marketing expense was $0.10 per Mcfe in the first quarter, an increase from a gain of $0.01 per Mcfe during the first quarter of 2021. The gain in the year ago period was due to higher third party marketing volumes during Winter Storm Uri.

First Quarter 2022 Operating Update

Antero placed 15 horizontal Marcellus wells to sales during the first quarter with an average lateral length of 12,707 feet. Nine of these wells have been online for at least 60 days and the average 60-day rate per well was 25.5 MMcfe/d, including approximately 1,416 Bbl/d of liquids assuming 25% ethane recovery.

First Quarter 2022 Capital Investment

Antero’s accrued drilling and completion capital expenditures for the three months ended March 31, 2022, were $175 million. For a reconciliation of accrued capital expenditures to cash capital expenditures see the table in the Non-GAAP Financial Measures section.

In addition to capital invested in drilling and completion costs, the Company invested $24 million in land during the first quarter. A portion of the land capital was used to acquire 2,500 net acres which hold approximately 11 incremental drilling locations at an average cost of less than $1 million per location. In addition to the incremental locations added, Antero also acquired minerals in its Marcellus area of development to increase its net revenue interest in future drilling locations.

Commodity Derivative Positions

Antero did not enter into any new natural gas, NGL or oil hedges during the first quarter of 2022. As of March 31, 2022, the Company has hedged 313 Bcf of natural gas for the remainder of 2022 at a weighted average index price of $2.49 per MMBtu and 16 Bcf of natural gas in 2023 at a weighted average index price of $2.37 per MMBtu.

Please see Antero’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, for more information on all commodity derivative positions. For detail on current commodity positions, please see the Hedge Profile presentations at www.anteroresources.com.

Conference Call

A conference call is scheduled on Thursday, April 28, 2022 at 9:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9079 (U.S.), or 201-493-6746 (International) and reference “Antero Resources.” A telephone replay of the call will be available until Thursday, May 5, 2022 at 9:00 am MT at 877-660-6853 (U.S.) or 201-612-7415 (International) using the conference ID: 13726236. To access the live webcast and view the related earnings conference call presentation, visit Antero's website at www.anteroresources.com. The webcast will be archived for replay until Thursday, May 5, 2022 at 9:00 am MT.

Presentation

An updated presentation will be posted to the Company's website before the conference call. The presentation can be found at www.anteroresources.com on the homepage. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into this press release.

Non-GAAP Financial Measures

Adjusted Net Income

Adjusted Net Income as set forth in this release represents net income (loss), adjusted for certain items. Antero believes that Adjusted Net Income is useful to investors in evaluating operational trends of the Company and its performance relative to other oil and gas producing companies. Adjusted Net Income is not a measure of financial performance under GAAP and should not be considered in isolation or as a substitute for net income as an indicator of financial performance. The GAAP measure most directly comparable to Adjusted Net Income is net income (loss). The following table reconciles net income (loss) to Adjusted Net Income (in thousands):

⁽¹⁾       Deferred taxes were 24% and 23% for 2021 and 2022, respectively.

⁽²⁾       Adjustments reflect noncontrolling interest in Martica not otherwise adjusted in amounts above.

Net Debt

Net Debt is calculated as total debt less cash and cash equivalents. Management uses Net Debt to evaluate the Company’s financial position, including its ability to service its debt obligations.

The following table reconciles consolidated total long-term debt to Net Debt as used in this release (in thousands):

Free Cash Flow

Free Cash Flow is a measure of financial performance not calculated under GAAP and should not be considered in isolation or as a substitute for cash flow from operating, investing, or financing activities, as an indicator of cash flow or as a measure of liquidity. The Company defines Free Cash Flow as net cash provided by operating activities, less net cash used in investing activities, which includes drilling and completion capital and leasehold capital, less proceeds from asset sales and less distributions to non-controlling interests in Martica.

The Company has not provided projected net cash provided by operating activities or a reconciliation of Free Cash Flow to projected net cash provided by operating activities, the most comparable financial measure calculated in accordance with GAAP. The Company is unable to project net cash provided by operating activities for any future period because this metric includes the impact of changes in operating assets and liabilities related to the timing of cash receipts and disbursements that may not relate to the period in which the operating activities occurred. The Company is unable to project these timing differences with any reasonable degree of accuracy without unreasonable efforts.

Free Cash Flow is a useful indicator of the Company’s ability to internally fund its activities, service or incur additional debt and estimate return of capital. There are significant limitations to using Free Cash Flow as a measure of performance, including the inability to analyze the effect of certain recurring and non-recurring items that materially affect the Company’s net income, the lack of comparability of results of operations of different companies and the different methods of calculating Free Cash Flow reported by different companies. Free Cash Flow does not represent funds available for discretionary use because those funds may be required for debt service, land acquisitions and lease renewals, other capital expenditures, working capital, income taxes, exploration expenses, and other commitments and obligations.

Adjusted EBITDAX

Adjusted EBITDAX is a non-GAAP financial measure that we define as net income (loss), adjusted for certain items detailed below.

Adjusted EBITDAX as used and defined by us, may not be comparable to similarly titled measures employed by other companies and is not a measure of performance calculated in accordance with GAAP. Adjusted EBITDAX should not be considered in isolation or as a substitute for operating income or loss, net income or loss, cash flows provided by operating, investing, and financing activities, or other income or cash flow statement data prepared in accordance with GAAP. Adjusted EBITDAX provides no information regarding our capital structure, borrowings, interest costs, capital expenditures, working capital movement, or tax position. Adjusted EBITDAX does not represent funds available for discretionary use because those funds may be required for debt service, capital expenditures, working capital, income taxes, exploration expenses, and other commitments and obligations. However, our management team believes Adjusted EBITDAX is useful to an investor in evaluating our financial performance because this measure:

There are significant limitations to using Adjusted EBITDAX as a measure of performance, including the inability to analyze the effects of certain recurring and non-recurring items that materially affect our net income or loss, the lack of comparability of results of operations of different companies, and the different methods of calculating Adjusted EBITDAX reported by different companies.

The GAAP measures most directly comparable to Adjusted EBITDAX are net income (loss) and net cash provided by operating activities. The following table represents a reconciliation of Antero’s net income (loss), including noncontrolling interest, to Adjusted EBITDAX and a reconciliation of Antero’s Adjusted EBITDAX to net cash provided by operating activities per our consolidated statements of cash flows, in each case, for the three months and years ended March 31, 2021 and 2022. Adjusted EBITDAX also excludes the noncontrolling interests in Martica and these adjustments are disclosed in the table below as Martica related adjustments.

⁽¹⁾       Adjustments reflect noncontrolling interests in Martica not otherwise adjusted in amounts above.

⁽¹⁾       Adjustments reflect noncontrolling interests in Martica not otherwise adjusted in amounts above.

Drilling and Completion Capital Expenditures

For a reconciliation between cash paid for drilling and completion capital expenditures and drilling and completion accrued capital expenditures during the period, please see the capital expenditures section below (in thousands):

Notwithstanding their use for comparative purposes, the Company’s non-GAAP financial measures may not be comparable to similarly titled measures employed by other companies.

Antero Resources is an independent natural gas and natural gas liquids company engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia and Ohio. In conjunction with its affiliate, Antero Midstream (NYSE: AM), Antero is one of the most integrated natural gas producers in the U.S. The Company’s website is located at www.anteroresources.com.

This release includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Resources’ control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Resources expects, believes or anticipates will or may occur in the future, such as those regarding our return of capital, expected results, future commodity prices, future production targets, realizing potential future fee rebates or reductions, including those related to certain levels of production, future earnings, leverage targets and debt repayment, future capital spending plans, improved and/or increasing capital efficiency, estimated realized natural gas, NGL and oil prices, expected drilling and development plans, projected well costs and cost savings initiatives, future financial position, the participation level of our drilling partner and the financial and production results to be achieved as a result of that drilling partnership, the other key assumptions underlying our projections, and future marketing opportunities, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this release. Although Antero Resources believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Resources expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.

Antero Resources cautions you that these forward-looking statements are subject to all of the risks and uncertainties, incident to the exploration for and development, production, gathering and sale of natural gas, NGLs and oil most of which are difficult to predict and many of which are beyond the Antero Resources’ control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, impacts of world health event, including the COVID-19 pandemic, cybersecurity risks, our ability to achieve our greenhouse gas reduction targets and the costs associated therewith, the state of markets for and availability of verified quality carbon offsets and the other risks described under the heading "Item 1A. Risk Factors" in Antero Resources’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2022.

For more information, contact Michael Kennedy, Chief Financial Officer of Antero Resources at (303) 357-6782 or mkennedy@anteroresources.com.

ANTERO RESOURCES CORPORATION

Condensed Consolidated Balance Sheets

(In thousands)

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

(In thousands, except per share amounts)

ANTERO RESOURCES CORPORATION

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

The following table set forth unaudited selected financial data for the three months ended March 31, 2021 and 2022:

* Not meaningful

The following table set forth selected operating data for the three months ended March 31, 2021 and 2022: