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AR - Antero Resources: Second Quarter Cash Flow Drought
Antero Resources Corporation
The latest income report shows a second quarter loss of $168 million from a derivative "mark-to-market" revaluation for Antero Resources (AR). This is a swing from a more than $300 million gain in the second quarter of the previous year. This derivative contract re-valuation is largely responsible for the greater than expected loss in the second quarter. However, the gain on contract values for the year still more than offsets the adjustment shown in revenue.
GAAP accounting has focused on revaluing derivative contracts every quarter. This really renders the income statement nearly useless.