Antero Resources Corporation is an independent oil and natural gas company engaged in the exploitation, development and acquisition of natural gas, NGLs and oil properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. As of December 31, 2012, the Company held approximately 329,000 net acres in the southwestern core of the Marcellus Shale and approximately 102,000 net acres in the core of the Utica Shale. In addition, the Company estimates that approximately 170,000 net acres of its Marcellus Shale leasehold are prospective for the slightly shallower Upper Devonian Shale. As of June 30, 2013, its estimated proved, probable and possible reserves were 6.3 trillion cubic feet equivalents (Tcfe), 14.0 Tcfe and 7.4 Tcfe, respectively, and its proved reserves were 23% proved developed and 91% natural gas, assuming ethane rejection.