Antero Resources, Antero Midstream name new CEO
Key Highlights
- Michael N. Kennedy, previously Antero Resources CFO, becomes CEO of Antero Resources and Antero Midstream.
- Paul M. Rady transitions to chairman emeritus.
- The companies are separating chairman and CEO roles, appointing Benjamin Hardesty and David Keyte as chairmen of their respective boards.
- Brendan Krueger and Justin Agnew are appointed to CFO roles.
Antero Resources Corp., Denver, and Antero Midstream Corp. have named Michael N. Kennedy to serve as chief executive officer and president of Antero Resources and Antero Midstream, effective Aug. 14.
Kennedy also will serve on each company's board of directors, the companies said in a release Aug. 14.
Paul M. Rady will transition to chairman emeritus from his roles as chief executive officer and president and member and chairman of the boards of directors of both companies.
Kennedy joined Antero in 2013. He has served as chief financial officer of Antero Resources since 2021 and senior vice-president of finance of Antero Resources and Antero Midstream since 2016. He also served as chief financial officer of Antero Midstream and its predecessors from 2016 to 2021. He has been a member of the board of Antero Midstream since 2021.
Prior to joining Antero, Kennedy spent 12 years at Forest Oil Corp.
Antero Resources and Antero Midstream will be separating the roles of chairman of the board and chief executive officer.
Benjamin A. Hardesty, currently the lead independent director of Antero Resources, will serve as chairman of the board of Antero Resources, and David H. Keyte, currently the lead independent director of Antero Midstream, will serve as chairman of the board of Antero Midstream.
Brendan E. Krueger, currently chief financial officer, vice-president of finance and treasurer of Antero Midstream and vice-president of finance and treasurer of Antero Resources, will be named chief financial officer and senior vice-president of finance of Antero Resources and senior vice-president of finance of Antero Midstream and will continue to serve as treasurer for each company.
Justin J. Agnew, currently vice-president of finance of Antero Midstream, will be named chief financial officer of Antero Midstream.
2025 guidance update
In its second-quarter report released July 30, Antero noted an inrease to its full-year 2025 production guidance to 3.4-3.45 bcfed, driven by stronger well performance.
The company decreased its full-year 2025 drilling and completion capital budget to $650-675 million, citing continued capital efficiency gains.