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  "documentTitle": "Tudor, Pickering, Holt &amp; Co | Investment Banking Pitch Book | 122 slides",
  "authorId": "tudor-pickering-holt-co",
  "authorName": "Tudor Pickering Holt",
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  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-08-01 00:00:00",
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  "notes": "Includes a callout box indicating IRR at AR Downside Pricing case.",
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      "kind": "callout",
      "text": "Indicates IRR price sensitivities at AR Downside Pricing(3) Case",
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      "text": "Gas Price Sensitivity",
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      "text": "Source: Antero assumptions based on Antero publicly disclosed information. Note: TPH IB assumes 40% ethane recovery; Antero assumes ethane rejection. (1) Holds Gas price flat at $2.80 / MMBtu. (2) Holds Oil price flat at $50 / bbl. (3) \"AR Downside Pricing Case\" applies $2.50 natural gas / $50 oil pricing to \"AR Base Volumes Case\" production.",
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      "text": "TPH SW Southern Rich Wet Gas, TPH SW Southern Gas Condensate, AR Highly Rich Gas, AR Highly Rich Gas Condensate",
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