Revenue during the quarter surged 65.82 percent to $1,195.58 million from $721 million in the previous year period. Gross margin for the quarter expanded 27 basis points over the previous year period to 98.70 percent. Total expenses were 58.07 percent of quarterly revenues, down from 89.08 percent for the same period last year. This has led to an improvement of 3101 basis points in operating margin to 41.93 percent.

Operating income for the quarter was $501.34 million, compared with $78.75 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $365.29 million compared with $355.40 million in the prior year period. At the same time, adjusted EBITDA margin contracted 1874 basis points in the quarter to 30.55 percent from 49.29 percent in the last year period.

Commenting on the continued operational momentum and Antero's integrated business strategy, Paul Rady, chairman and chief executive officer said, "We continue to see increases in well productivity through the utilization of our advanced completion techniques while keeping drilling and completion costs down. We have seen encouraging early results in the Marcellus with completions yielding wellhead EURs in the 2.0 to 2.4 Bcf/1,000’ range. Importantly, some of the early results are outside of our current high graded core areas and could lead to an extension of those areas. The continued operational momentum compliments Antero's integrated business strategy which includes best quality rock, firm transport to favorable price indices, an industry leading hedge book, significant exposure to liquids pricing upside and value created by infrastructure buildout through our 59% ownership in Antero Midstream. This high level of operational performance and integration gives us confidence in our ability to achieve our 2017 production growth guidance as well as our production growth targets through 2020."

The company has spent $688.47 million cash to meet investing activities during the quarter as against cash outgo of $519.30 million in the last year period.

Cash flow from financing activities was $262.92 million for the quarter, up 34.47 percent or $67.40 million, when compared with the last year period.

Working capital turns negative
Working capital of Antero Resources Corporation has turned negative to $219.74 million on Mar. 31, 2017 from positive $593.26 million on Mar. 31, 2016. Current ratio was at 0.70 as on Mar. 31, 2017, down from 1.92 on Mar. 31, 2016.

Days sales outstanding went down to 9 days for the quarter compared with 18 days for the same period last year.

At the same time, days payable outstanding went down to 1163 days for the quarter from 2478 for the same period last year.