Welcome to our dedicated page for Antero Midstream news (Ticker: AM), a resource for investors and traders seeking the latest updates and insights on Antero Midstream stock.
Antero Midstream Corporation (NYSE: AM) is a premier midstream energy infrastructure company headquartered in Denver, Colorado. Established in 2013, the firm owns, operates, and develops critical midstream assets that support natural gas and liquids production in the Appalachian Basin, specifically the Marcellus Shale and Utica Shale located in West Virginia and Ohio.
Antero Midstream operates through two primary segments: Gathering and Processing and Water Handling and Treatment. The Gathering and Processing segment includes an extensive network of pipelines and compressor stations that collect and process production from Antero Resources' wells. The Water Handling and Treatment segment supplies fresh water from the Ohio River and regional reservoirs, along with wastewater treatment and disposal services.
As of the latest updates, Antero Midstream has been involved in several significant financial activities, such as the pricing of a $600 million offering of senior notes due 2032. The company intends to use the proceeds from this offering to reduce its revolving credit facility debt, which can be reborrowed for general corporate purposes. Furthermore, Antero Midstream has consistently shown financial strength, reflected by their adjusted EBITDA of $265 million for the first quarter of 2024, a 10% increase over the previous year.
The company has also made strategic acquisitions and investments, most notably the recent $70 million purchase of gathering and compression assets in the Marcellus Shale from Summit Midstream Partners LP. This acquisition is expected to be over 5% accretive to Free Cash Flow after dividends through 2027. Additionally, Antero Midstream declared a cash dividend of $0.225 per share for the first quarter of 2024, underscoring its commitment to shareholder returns.
Antero Midstream Corporation is an integral player in the midstream energy sector, ensuring the efficient and safe transportation, processing, and treatment of natural gas and related products. The company's robust infrastructure and strategic initiatives make it a vital partner for Antero Resources and a significant entity in the U.S. energy landscape.
Antero Midstream (NYSE: AM) has declared a cash dividend of $0.225 per share for Q2 2024, totaling $0.90 annually. This marks their 39th consecutive quarterly dividend since their 2014 IPO. The dividend will be payable on August 7, 2024, to shareholders recorded by July 24, 2024. No shares were repurchased this quarter. Antero will release its Q2 2024 earnings on July 31, 2024, post-trading hours, and will host a conference call on August 1, 2024, at 10:00 am MT to discuss financial results. A replay of the call will be available until August 8, 2024. Visit www.anteromidstream.com for the live webcast and replay.
Antero Resources (NYSE: AR) will release its Q2 2024 earnings on July 31, 2024, post-market close. A conference call to discuss the financial results will occur on August 1, 2024, at 9:00 am MT. Analysts can join the call by dialing 877-407-9079 (U.S.) or 201-493-6746 (International). The conference ID is 13743656. A replay will be available until August 8, 2024. The earnings call and presentation can be accessed on Antero's website.
Antero Resources is a leading independent natural gas producer in the Appalachian Basin, operating primarily in West Virginia and Ohio, alongside Antero Midstream (NYSE: AM). The company focuses on acquiring, developing, and producing unconventional natural gas properties.
Antero Resources (NYSE: AR) has been upgraded to an investment grade credit rating of BBB- from BB+ by S&P Global Ratings, effective May 15, 2024. This upgrade follows the investment grade rating by Fitch Ratings since September 2022. The new rating is expected to significantly reduce letters of credit tied to Antero's firm transportation portfolio and lower interest expenses.
Michael Kennedy, CFO of Antero Resources, attributed this achievement to the company's development program and debt reduction strategy, which has cut over $2 billion in debt since late 2019. Antero Resources is a leading operator in the Appalachian Basin, focusing on natural gas and liquids production.
Antero Midstream announced a bolt-on acquisition of gathering and compression assets in the Marcellus Shale for $70 million, increasing 2024 guidance, and redeeming 2026 Senior Notes. The acquisition is expected to boost Free Cash Flow, EBITDA, and Free Cash Flow after dividends. The company aims to enhance shareholder value through strategic acquisitions.
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