NEW YORK, December 31, 2025, 1:19 PM ET — Regular session
Antero Resources Corporation shares fell 2.7% to $34.15 in midday trading on Wednesday as U.S. natural gas prices retreated after a closely watched storage update.
The move matters because gas-focused producers often trade as a high-beta proxy for the commodity, and year-end flows can amplify swings. Wednesday’s government inventory data and shifting weather expectations are setting the tone into the first week of January.
U.S. natural gas prices were down about 5.8% around $3.74 per mmBtu, or million British thermal units, a standard measure of energy content in gas contracts.
The Energy Information Administration said working gas in storage stood at 3,375 billion cubic feet (Bcf) for the week ended Dec. 26, down 38 Bcf from the prior week, with inventories 58 Bcf above the five-year average. The agency said the report was released at 12:00 p.m. ET on Wednesday, with the next update scheduled for Jan. 8.
Other Appalachia-focused gas producers moved in step. EQT was down about 2.5%, while Range Resources slid about 3.0%.
Supply signals stayed in focus. Baker Hughes reported the total U.S. oil and gas rig count rose by one to 546 in the week to Dec. 30, while gas rigs fell by two to 125; the report also cited EIA projections for rising U.S. dry-gas output into 2026.
Traders are also weighing how quickly winter demand can tighten balances. “January’s now coming around the corner and typically in January you’re going to get some cold weather,” Thomas Saal, senior vice president for energy trading at StoneX Financial, said in a Reuters report. Hellenic Shipping News
For Antero, the day-to-day tape is still dominated by the gas curve. When prices weaken, investors tend to mark down expected cash flow from future production, even if operating plans stay unchanged.
The storage picture adds nuance. Inventories remain above the five-year average, which can cap price rallies unless colder weather lifts heating demand or supply growth slows.
What traders are watching next is straightforward: updated weather model runs, LNG export demand signals, and whether the next EIA storage report confirms a faster drawdown pace in early January.
On the company calendar, the next major scheduled check-in is earnings. Antero is expected to report on Feb. 11, according to Nasdaq’s earnings calendar, a date that typically sharpens focus on production, capital returns and any updates on 2026 planning.
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