Antero notes active as Q2 results released; United Airlines mixed after furlough warning

By James McCandless

San Antonio, July 30 – Energy and travel names took center stage in distressed debt trading on Thursday.

Antero Resources Corp.’s notes varied in direction after the release of the company’s second-quarter earnings results.

The 5 1/8% senior notes due 2022 held level to close at 80 bid. The 5 5/8% senior notes due 2023 shaved off ½ point to close at 70½ bid.

The Denver-based independent oil and gas producer’s structure was in focus after releasing its second-quarter earnings results after the close on Wednesday.

The company reported a loss per share of 37 cents, weaker than the 15 cents per share loss predicted by analysts.

Revenues were also underwhelming at $484.91 million.

As part of its earnings presentation, Antero said that it would focus on keeping output flat and saving on costs amid continuing uncertainty in the energy markets.

Meanwhile, United Airlines Holdings, Inc.’s issues moved on separate tracks after warning of more potential layoffs.

The 5% senior notes due 2024 dipped 1 point to close at 84 bid. The 4¼% senior notes due 2022 improved 1 point to close at 89 bid.

During the Thursday session, reports indicated that the Chicago-based airline has told its pilots that more furloughs than expected may be needed through this year and in 2021.

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