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 Resources Corporation (NYSE: AR) announced plans to offer $500 million in senior unsecured notes due 2029, subject to market conditions. The proceeds will fund the redemption of $310.5 million of 5.125% senior notes due 2022 and to repay credit facility borrowings. The offering is not contingent on the completion of the redemption. The notes will be offered to qualified institutional buyers and have not been registered under the Securities Act. Antero Resources is engaged in the production of natural gas and liquids in the Appalachian Basin.
Antero Resources Corporation (NYSE: AR) plans to offer $500 million in senior unsecured notes due 2026, subject to market conditions. A portion of the proceeds will fund the redemption of $350 million of its 5.125% senior notes due 2022, with the remainder directed to repay borrowings under its credit facility. The offering is aimed exclusively at qualified institutional buyers and is not contingent on redeeming the 2022 notes. The company emphasizes potential risks related to market conditions, commodity price volatility, and operational uncertainties.
Antero Midstream Corporation (NYSE: AM) has priced a private placement of $550 million in 7.875% senior unsecured notes due in 2026. The offering, set to close on November 10, 2020, will generate approximately $544 million after expenses, with funds intended to repay a portion of existing borrowings. The notes are not registered under the Securities Act and are expected to be eligible for trading under Rule 144A and Regulation S. The company operates midstream assets primarily in West Virginia and Ohio.
Antero Midstream Corporation (NYSE: AM) announced a proposed offering of $400 million in senior unsecured notes due 2026, subject to market conditions. The offering aims to raise funds to repay outstanding borrowings under its credit facility. The notes will be offered privately, only to eligible institutional buyers under Rule 144A and Regulation S of the Securities Act. This announcement excludes an intent to sell or solicit offers in jurisdictions where it is illegal.
On October 29, 2020, Antero Resources Corporation (NYSE: AR) announced plans to redeem all outstanding 5.375% senior notes due 2021 on November 30, 2020. The redemption will include the principal amount plus accrued interest. Funding for this redemption will come from a combination of asset sales, operational cash flow, and available credit. This strategic move underscores the company's efforts to manage its debt effectively while enhancing its financial position in the natural gas sector.
Antero Midstream Corporation (NYSE: AM) announced its Q3 2020 financial results, reporting a net income of $106 million ($0.22 per share), a significant recovery from a net loss of $(0.57) per share last year. Adjusted Net Income rose to $120 million ($0.25 per share), up 65% YoY. Adjusted EBITDA grew 5% to $229 million, while capital expenditures plummeted 77% to $37 million. The company increased its Free Cash Flow guidance to $485-$495 million, reflecting a 23% rise from earlier projections. Antero Midstream's ongoing commitment to sustainability was highlighted in its first Corporate Sustainability Report.
Antero Resources Corporation (NYSE: AR) reported its third-quarter 2020 results, highlighting a net production of 3,772 MMcfe/d, with a significant component being 220,000 Bbl/d of liquids. The company faced a net loss of $536 million, influenced by a $749 million unrealized commodity hedge loss due to a rise in natural gas prices. Adjusted EBITDAX stood at $272 million and net cash from operations reached $176 million. The firm made progress on debt reduction, repurchasing $461 million in senior notes, and aims to generate $175-$200 million in free cash flow in H2 2020.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.3075 per share for Q3 2020, maintaining the same rate as Q2 2020. This marks the 23rd consecutive quarterly dividend since its IPO in November 2014. The dividend is payable on November 12, 2020, to shareholders of record by October 29, 2020. Antero plans to release its Q3 2020 earnings on October 28, 2020, and hold a conference call on October 29, 2020.
Antero Midstream Corporation (NYSE: AM) reported its Q2 2020 financial results, highlighting a net income of $88 million ($0.19 per share), a 36% year-over-year increase. Adjusted Net Income also rose 36% to $106 million ($0.22 per share). Free Cash Flow significantly improved to $108 million from $15 million the previous year, driven by a 63% reduction in capital expenditures to $59 million. The company updated its 2020 capital budget to $200-$215 million and raised its Free Cash Flow guidance to $445-$475 million, reflecting enhanced financial flexibility amidst the COVID-19 pandemic.
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