Press Release Details

September 6, 2017

Antero Midstream Announces Pricing of Secondary Common Unit Offering

DENVER, Sept. 6, 2017 /PRNewswire/ -- Antero Midstream Partners (NYSE: AM) ("Antero Midstream" or the "Partnership") today announced the pricing of an underwritten public offering of 10,000,000 common units (the "Offering") representing limited partner interests in Antero Midstream held by Antero Resources Corporation (NYSE: AR) at a price of $31.45 per unit for aggregate gross proceeds to Antero Resources Corporation of approximately $315 million before estimated offering expenses. Antero Midstream will not receive any proceeds from the sale of common units in the Offering.  In connection with the Offering, Antero Resources granted the underwriters a 30-day option to purchase up to an additional 1,500,000 common units. After giving effect to the Offering and assuming no exercise of the underwriters' option to purchase additional common units, Antero Resources will own approximately 53% of the Partnership's outstanding common units.

Antero Midstream Partners, LP Logo (PRNewsFoto/Antero Midstream Partners, LP)

Barclays and Wells Fargo are acting as joint book-running managers for the Offering.  The Offering will only be made by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, copies of which, when available, may be obtained from:

Barclays Capital Inc.

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

barclaysprospectus@broadridge.com

Toll-Free: 1-888-603-5847

Wells Fargo Securities

c/o Equity Syndicate Department

375 Park Avenue

New York, NY 10152

cmclientsupport@wellsfargo.com

Telephone: 1-800-326-5897

 

Antero Midstream has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Antero Midstream has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Antero Resources will arrange to send you the prospectus after filing if you request it by calling (303) 357-7310. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Antero Midstream is a limited partnership that owns, operates and develops midstream gathering, compression, processing and fractionation assets as well as integrated water assets that primarily service Antero Resources' properties located in West Virginia and Ohio. Holders of Antero Midstream common units will receive a Schedule K-1 with respect to distributions received on the common units.

This release includes "forward-looking statements".  Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Antero Midstream's control. All statements, other than historical facts included in this release, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  All forward-looking statements speak only as of the date of this release. Although Antero Midstream believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Nothing in this release is intended to constitute guidance with respect to Antero Midstream.

Antero Midstream cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the Partnership's control, incident to the gathering and processing and fresh water and waste water treatment businesses.  These risks include, but are not limited to, Antero Resources' expected future growth, Antero Resources' ability to meet its drilling and development plan, commodity price volatility, ability to execute the Partnership's business strategy, competition and government regulations, actions taken by third-party producers, operators, processors and transporters, inflation, environmental risks, drilling and completion and other operating risks, regulatory changes, the uncertainty inherent in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and the other risks described under "Risk Factors" in Antero Midstream's Annual Report on Form 10-K for the year ended December 31, 2016.

For more information, contact Michael Kennedy – CFO of Antero Midstream, at (303) 357-6782 or mkennedy@anteroresources.com.

 

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SOURCE Antero Midstream Partners LP

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