Antero Midstream Corporation Buyback
OLI recorded this information on 12/9/2019
Antero Midstream Corporation
Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced that it has agreed to repurchase $100 million of Antero Midstream shares from Antero Resources Corporation ("Antero Resources"). In addition, Antero Midstream and Antero Resources have agreed to a growth incentive fee program where Antero Midstream will provide a reduction in low pressure gathering fees for volumes gathered from January 1, 2020 through December 31, 2023 subject to achieving increasing volumetric targets. The growth incentive fee program aligns with Antero Resources' current 8% to 10% compound annual net production growth plan in 2020 and 2021. The share repurchase and growth incentive fee reduction transactions have been negotiated and recommended by the Conflicts Committees of Antero Midstream and Antero Resources and approved by both Boards of Directors.
Antero Midstream is a a holding company. Through its subsidiary, Antero Midstream Partners GP LLC, Co. owns, operates and develops midstream energy infrastructure primarily to service Antero Resources Corp. and its production and completion activity in the Appalachian Basin's Marcellus Shale and Utica Shale located in West Virginia and Ohio. Co.'s assets consist of gathering pipelines, compressor stations, and interests in processing and fractionation plants that collect and process production from Marcellus and Utica Shales in West Virginia and Ohio. Co.'s assets also include fresh water delivery systems that deliver fresh water from the Ohio River and several regional waterways.
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Sell (1.00 out of 4)
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