Antero Resources and Antero Midstream Announce Paul Rady's Transition to Chairman Emeritus Amid Strategic Leadership Change

Antero Resources and Antero Midstream announced that co-founder Paul M. Rady will transition from CEO to Chairman Emeritus. Under Rady's leadership, the companies have grown significantly, achieving a combined enterprise value of $24.0 billion. Antero Resources is the fifth largest U.S. producer of natural gas and NGLs, with 3.4 Bcfe/d production. Antero Midstream operates 708 miles of gathering pipelines and holds a $12.0 billion enterprise value. Mike Kennedy will succeed Rady as CEO.

Antero Resources Corporation (NYSE: AR) and Antero Midstream Corporation (NYSE: AM) have announced that co-founder Paul M. Rady will transition from his roles as CEO and President to Chairman Emeritus of both companies. This change comes into effect immediately, marking a significant milestone for the organizations [1].

Under Rady's leadership, Antero Resources and Antero Midstream have achieved remarkable growth. Antero Resources, an independent natural gas and natural gas liquids company, is now the fifth largest producer of natural gas and NGLs in the U.S., with a production of over 3.4 Bcfe/d as of the second quarter of 2025 [2]. The company operates in the Appalachian Basin, holding approximately 526,000 net acres and having estimated proved reserves of 17.9 Tcfe at the end of 2024 [1].

Antero Midstream, a Delaware corporation that owns, operates, and develops midstream energy infrastructure, has developed extensive gathering pipelines and water delivery systems. At the end of 2024, Antero Midstream had 413 miles of low pressure gathering pipeline, 295 miles of high pressure gathering pipeline, and compression capacity of 4.6 Bcf/d [1]. The company also eliminated approximately 14.4 million miles of truck traffic in 2024 through its water delivery system, which consists of 233 miles of buried water pipeline and 163 miles of surface water pipeline [1].

The combined enterprise value of Antero Resources and Antero Midstream is approximately $24.0 billion [1]. This growth is attributed to Rady's visionary leadership, operational execution, and commitment to the oil and gas industry [1].

Michael Kennedy will succeed Rady as the CEO of both companies, effective immediately. Kennedy joined Antero in 2013 and has served as CFO of Antero Resources since 2021 and CFO of Antero Midstream from 2016 to 2021 [3]. His extensive experience in the industry, including serving as Executive VP and CFO at Forest Oil Corp., positions him well to continue the companies' strategic direction [3].

The leadership transition is well-planned and orderly, with the support of both boards. The appointment of Kennedy as CEO and the creation of a Chairman Emeritus role for Rady suggest a carefully managed succession to maintain strategic continuity [2].

References:
[1] https://www.prnewswire.com/news-releases/antero-resources-and-antero-midstream-announce-co-founder-paul-m-rady-to-transition-to-chairman-emeritus-302530567.html
[2] https://www.stocktitan.net/news/AM/antero-resources-and-antero-midstream-announce-co-founder-paul-m-nodpl4pck3tc.html
[3] https://seekingalpha.com/news/4485691-antero-resources-antero-midstream-tap-kennedy-as-new-president-and-ceo