Antero Resources and Antero Midstream Honor Co-Founder Paul M. Rady as Chairman Emeritus

Leadership Transition: Paul M. Rady Becomes Chairman Emeritus

In a significant leadership shift, Antero Resources Corporation and Antero Midstream Corporation have announced that co-founder Paul M. Rady will transition into the role of Chairman Emeritus. This decision, effective immediately, marks the end of Rady's tenure as both Chief Executive Officer and President, and as Chairman of the Boards of Directors for both companies.

A Legacy of Leadership

Rady’s leadership has been characterized by a profound commitment to the oil and gas sector, pioneering developments within the Appalachian Basin and establishing high standards for operational efficiency. The Boards of Directors acknowledged his exemplary guidance, emphasizing his dedication to enhancing shareholder value and fostering responsible business practices. Antero now holds an enterprise value of approximately $24 billion, establishing itself as a key player in the energy market.

Benjamin A. Hardesty, the Lead Independent Director of Antero Resources, highlighted Rady’s vision and ability to elevate shareholder returns throughout his tenure. Antero’s achievements under his leadership include being recognized as one of the most capital-efficient developers in the Appalachian Basin and maintaining an exemplary safety and environmental record.

Commitment Beyond Business

Rady is not only recognized for his acumen in energy but also for his philanthropic efforts. His contributions to educational and cultural initiatives reflect a commitment to the communities served by the Antero family. Notable beneficiaries of his generosity include Western Colorado University and the University of Colorado, demonstrating the value he places on supporting education and community development.

Professional Background

Rady began his illustrious career with Amoco Corporation, where he honed his skills as a geologist specializing in the Rockies and Mid-Continent regions. His climb through Barrett Resources Corp to Pennaco Energy showcased his talents, leading him to co-found Antero Resources and Midstream in 2002 and 2012, respectively. Under his stewardship, Antero Resources has drilled over 526,000 net acres and has significant estimated proved reserves of 17.9 Tcfe as of the end of 2024.

Future Outlook

Looking ahead, Rady expressed his gratitude towards employees and stakeholders, crediting their dedication for the company's successes thus far. He feels confident that the companies will thrive under the leadership of Mike Kennedy, the incoming CEO. Rady plans to embrace his role as Chairman Emeritus while focusing more on family and philanthropic endeavors.

His invaluable leadership set a precedent for the future of Antero Resources and Antero Midstream, ensuring they remain at the forefront of the energy landscape in the years to come.

In summary, the transition of Paul M. Rady to Chairman Emeritus is not just a change in title; it is a recognition of his outstanding contribution to the industry and a celebration of his visionary leadership. As he steps into this new chapter, it’s clear that Rady’s influence will continue to resonate within the company and the communities it serves for many years ahead.