Given the strong reader reception to my recent Antero Resources article, "A Potential 5-Bagger Or A Zero," this is a follow-up piece where I share some high-level modeling with the SA readership.
Despite the exceptionally bullish natural gas setup for 2021, given that many U.S. oil shale producers will be forced to shut in production (and so, associated gas production will fall rapidly), as U.S. land-based storage risks hitting top tank by mid-May 2020, Antero Resources' equity continues to lag the pack.
I would argue that a great deal of this negative pricing