Antero Resources Update

Antero Resources Update

Postby dan_s » Wed Mar 13, 2019 1:44 pm

https://finance.yahoo.com/news/antero-midstream-antero-midstream-partners-151303664.html

AM is now a C-Corp, making it a better fit for an IRA.

Plus, this deal gets more cash into AR.
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 20008
Joined: Fri Apr 23, 2010 8:22 am

Re: Antero Resources Update

Postby dan_s » Wed Mar 13, 2019 1:48 pm

Antero Resources Announces Receipt of $297 Million Cash Consideration and Deconsolidation of Financial Statements in Connection with Midstream Simplification

DENVER, March 13, 2019 /PRNewswire/ -- Antero Resources (AR) ("Antero Resources", or "AR") today announced receipt of consideration in connection with the closing of the previously announced simplification transaction between Antero Midstream GP LP (AMGP) ("AMGP") and Antero Midstream Partners LP (AM) ("Antero Midstream Partners" or "AM"). At closing, AMGP was converted from a Limited Partnership to a Corporation and was renamed Antero Midstream Corporation ("New AM"). Beginning on March 13, 2019, New AM's common stock will trade on the NYSE under the ticker symbol AM. With the closing of this transaction, Antero Resources will no longer consolidate Antero Midstream Partners' financial and operating results in Antero Resources' consolidated financial statements. Antero Resources will account for its interest in New AM under the equity method of accounting. This new financial statement presentation will be substantially the same as the previously categorized "Stand-alone" data that was historically reported. Please see the accompanying presentation on our website titled "Simplification and Deconsolidation: Catalyst for Outperformance" for supplemental details.

Read more: https://finance.yahoo.com/news/antero-resources-announces-receipt-297-104500441.html
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 20008
Joined: Fri Apr 23, 2010 8:22 am

Re: Antero Resources Update

Postby dan_s » Wed Mar 13, 2019 1:52 pm

My valuation of AR is $22/share. which compares to the current share price of $8.27.
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 20008
Joined: Fri Apr 23, 2010 8:22 am


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