Welcome to our dedicated page for Antero Midstream Corporation news (Ticker: AM), a resource for investors and traders seeking the latest updates and insights on Antero Midstream Corporation 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 Corporation (NYSE: AM) reported its Q3 2021 financial results, showing a net income of $89 million ($0.19 per share), down from $105 million in Q3 2020. Adjusted EBITDA decreased by 4% to $219 million, while capital expenditures rose 120% to $81 million. Free Cash Flow before dividends dropped 40% to $94 million, and after dividends, there was a deficit of $13 million. The company connected its 1,000th well and extended its credit facility maturity to 2026, reducing commitments to $1.25 billion. Recent environmental initiatives were highlighted, including a 62% reduction in total recordable incidents.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q3 2021, marking its 29th consecutive dividend since its IPO in 2014. The dividend, amounting to an annualized $0.90 per share, will be paid on November 10, 2021 to shareholders on record by October 27, 2021. The company has $150 million remaining under its $300 million share repurchase program. Antero Midstream will release its earnings on October 27, 2021 and host a conference call on October 28, 2021.
Antero Midstream Corporation (NYSE: AM) reported second quarter 2021 results, showing a net income of $80 million ($0.17 per share), down from $88 million in the prior year. Adjusted Net Income rose 10% to $109 million ($0.23 per share). Adjusted EBITDA increased 12% to $225 million. Free Cash Flow increased to $3 million from a $40 million deficit. Capital expenditures were $71 million, with an average daily low-pressure gathering volume of 2,897 MMcf/d, a 1% increase year-over-year. The company refinanced $650 million of senior notes, extending maturities and reducing operational risks.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q2 2021, marking its 27th consecutive quarterly dividend. The dividend is payable on August 11, 2021, to stockholders of record by July 28, 2021, amounting to an annualized total of $0.90 per share. Antero Midstream will release its Q2 earnings on July 28, 2021, followed by a conference call on July 29, 2021, at 10:00 am MT. As of June 30, 2021, the company had approximately $150 million remaining in its $300 million share repurchase program.
Antero Midstream (NYSE: AM) has announced the pricing of a private placement of $750 million in senior unsecured notes due in 2029, expected to close on June 8, 2021. The company anticipates receiving net proceeds of approximately $742 million, which will be used to redeem its $650 million of senior notes due 2024 and repay credit facility borrowings. The offering is not contingent upon the redemption of the 2024 notes and will be offered only to qualified institutional buyers.
Antero Midstream Corporation (NYSE: AM) announced a planned offering of $650 million in senior unsecured notes due 2029, contingent on market conditions. The funds will be used to redeem all $650 million of its 5.375% senior notes due 2024 at a premium plus accrued interest. The offering is specifically targeted at qualified institutional buyers and is not registered under the Securities Act. This press release includes forward-looking statements and identifies various risks that could impact future outcomes.
Antero Resources Corporation (NYSE: AR) announced its intention to offer $500 million in senior unsecured notes due 2030, subject to market conditions. The proceeds will fund the redemption of its 5.625% senior notes due 2023 on June 1, 2021. The offering is not contingent on this redemption and is restricted to qualified institutional buyers under Rule 144A. The notes will not be registered under the Securities Act, limiting their sale in the U.S. This offering aims to streamline the company’s debt structure in the competitive natural gas sector.
Antero Resources Corporation (NYSE: AR) announced the appointment of Brenda R. Schroer to its Board of Directors, effective April 30, 2021. With this addition, the Board now consists of eight directors, seven of whom are independent. Schroer's background includes significant roles in the oil and gas industry, notably as CFO at Concho Resources, and she currently serves as Interim CFO for Solaris Midstream Holdings. Her experience in finance and ESG reporting is expected to enhance Antero's governance.
Antero Midstream Corporation (NYSE: AM) reported strong first quarter 2021 results. Net income reached $83 million ($0.17 per share), rebounding from a loss of $0.81 per share last year. Adjusted Net Income stands at $101 million ($0.21 per share), while Adjusted EBITDA increased 1% to $219 million. Capital expenditures dropped 64% to $30 million. Notably, Free Cash Flow before dividends surged 51% to $146 million and after dividends reached $39 million, compared to a deficit of $50 million last year. The company’s net debt remained stable at $3.1 billion with a leverage ratio of 3.7x.
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