Antero Midstream Partners Lp plays a crucial role in the midstream energy sector, primarily servicing Antero Resources Corporation’s operations within the Appalachian Basin. Understanding its organizational evolution and operational focus provides valuable insights into its position within the energy landscape.
Initially established as Antero Resources Midstream Management LLC in 2013, the entity was designed to function as the general partner for Antero Midstream Partners LP. This foundational structure laid the groundwork for its entry into the public market. A significant shift occurred on May 4, 2017, when Antero Resources Midstream Management LLC transitioned from a limited liability company to a limited partnership under Delaware law. Concurrent with its initial public offering, the company rebranded as Antero Midstream GP LP (“AMGP”).
Further organizational changes were implemented on March 12, 2019, through a Simplification Agreement. This agreement triggered a series of key transactions designed to streamline the corporate structure. Firstly, AMGP underwent conversion from a limited partnership to a corporation, becoming Antero Midstream Corporation. Secondly, a merger was executed where an indirect subsidiary of Antero Midstream Corporation merged into Antero Midstream Partners, with Antero Midstream Partners surviving as a wholly-owned, indirect subsidiary of Antero Midstream Corporation. Lastly, Antero Midstream Corporation executed a Series B Exchange, exchanging each outstanding Series B Unit for 176.0041 shares of its common stock.
As a direct consequence of these Transactions, Antero Midstream Partners LP transitioned into a wholly-owned subsidiary of Antero Midstream Corporation. This structural change impacted the ownership landscape, with former shareholders of AMGP, unitholders of Antero Midstream Partners LP, and holders of Series B Units becoming shareholders of Antero Midstream Corporation’s common stock.
Today, Antero Midstream Partners LP, under the umbrella of Antero Midstream Corporation, operates as a growth-oriented midstream company. Its core business revolves around owning, operating, and developing essential midstream energy infrastructure. The primary objective is to support Antero Resources Corporation’s production and completion activities within the Appalachian Basin, specifically targeting the Marcellus and Utica Shale formations in West Virginia and Ohio.
Antero Midstream Partners LP’s asset portfolio is comprehensive, encompassing gathering pipelines and compressor stations crucial for natural gas transportation. Furthermore, the company holds interests in processing and fractionation plants, essential for natural gas liquids processing. Adding to its service offerings, Antero Midstream Partners LP manages water handling assets, a vital component of shale energy production. Through long-term contracts, Antero Midstream Partners LP and its affiliates are committed to providing reliable midstream services to Antero Resources. The corporate headquarters of Antero Midstream Corporation, and by extension Antero Midstream Partners LP, are located in Denver, Colorado.
