v3.26.3
Equity Method Investment
9 Months Ended
Sep. 30, 2026
Equity Method Investment  
Equity Method Investment

(5) Equity Method Investment

As of December 31, 2025 and September 30, 2026, Antero owned 29% of Antero Midstream’s common stock, which is reflected in Antero’s unaudited condensed consolidated financial statements using the equity method of accounting.

The following table sets forth a reconciliation of Antero’s investment in unconsolidated affiliate (in thousands):

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Balance as of December 31, 2025 (1)

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​

245,653

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Equity in earnings of unconsolidated affiliate

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​

170,207

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Dividends from unconsolidated affiliate

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​

(93,941)

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Elimination of intercompany profit

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​

26,086

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Balance as of September 30, 2026 (1)

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$

348,005

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(1)The fair value of the Company’s investment in Antero Midstream as of December 31, 2025 and September 30, 2026 was $2.5 billion and $2.8 billion, respectively, based on the quoted market share price of Antero Midstream.