Revenue during the year plunged 55.89 percent to $1,744.52 million from $3,954.86 million in the previous year. Gross margin for the year contracted 196 basis points over the previous year to 97.13 percent. Operating margin for the year stood at negative 55.94 percent as compared to a positive 45.27 percent for the previous year.

Operating loss for the year was $975.80 million, compared with an operating income of $1,790.29 million in the previous year.

However, the adjusted EBITDA for the year stood at $1,536.14 million compared with $1,221.42 million in the prior year period. At the same time, adjusted EBITDA margin improved 5717 basis points in the year to 88.06 percent from 30.88 percent in the last year period.

Commenting on Antero's 2016 results and future development plan, Paul Rady, chairman of the Board and chief executive officer said, "In 2016, through strategic acreage consolidation, we increased our extensive core drilling inventory to over 3,400 locations. From 2017 through 2020, we are targeting the completion of just over 800 of these core locations, or less than 25% of our overall core inventory. This provides us with significant visibility around our long-term growth plans. Looking ahead, we are well positioned to achieve our production guidance of 20% to 25% in 2017 and our production targets of 20% to 22%, on a compounded annual basis through 2020. Importantly, the significant operational improvements resulting in increased EUR's and lower well costs now position us to achieve this production growth while driving down leverage and spending within operating cash flow."

The company has spent $2,395.14 million cash to meet investing activities during the year as against cash outgo of $2,298.16 million in the last year. It has incurred net capital expenditure of $2,323.60 million on net basis during the year, up 0.68 percent or $15.69 million from year ago.

Cash flow from financing activities was $1,162.02 million for the year, up 9.64 percent or $102.18 million, when compared with the last year.

Cash and cash equivalents stood at $31.61 million as on Dec. 31, 2016, up 34.67 percent or $8.14 million from $23.47 million on Dec. 31, 2015.

Working capital turns negative
Working capital of Antero Resources Corp has turned negative to $414.80 million on Dec. 31, 2016 from positive $540.97 million on Dec. 31, 2015. Current ratio was at 0.49 as on Dec. 31, 2016, down from 1.76 on Dec. 31, 2015.

Days sales outstanding went up to 22 days for the year compared with 12 days for the same period last year.

At the same time, days payable outstanding went down to 1374 days for the year from 2065 for the same period last year.