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Dec 31, 2019
Antero Midstream Q4 2019 Earnings Report
Reported fourth quarter and full year 2019 results and announced 2020 capital budget and guidance.
Key Takeaways
Antero Midstream reported a net loss of $(144) million, or $(0.29) per share, for the fourth quarter of 2019. Adjusted Net Income was $177 million, or $0.35 per share, representing a 3% increase compared to the prior year quarter. Adjusted EBITDA was $203 million, a 6% increase compared to the prior year quarter.
Low pressure gathering volumes averaged 2,639 MMcf/d, a 1% increase as compared to the prior year quarter.
Compression volumes averaged 2,414 MMcf/d, a 9% increase as compared to the fourth quarter of 2018.
High pressure gathering volumes averaged 2,613 MMcf/d, a 2% increase compared to the fourth quarter of 2018.
Fresh water delivery volumes averaged 148 MBbl/d during the quarter, a 9% increase compared to the fourth quarter of 2018.
Revenue by Segment
Forward Guidance
Antero Midstream plans to expand its existing Marcellus and Ohio Utica Shale gathering, compression and fresh water delivery systems, and the processing capabilities of the Joint Venture to accommodate Antero Resources’ development program. Antero Midstream has budgeted capital investments in 2020 of $300 million to $325 million.
Positive Outlook
- Expansion of Marcellus and Ohio Utica Shale gathering systems.
- Expansion of compression and fresh water delivery systems.
- Expansion of processing capabilities of the Joint Venture.
- Capital investments of $300 million to $325 million in 2020.
- Investment of approximately $200 million in gathering and compression infrastructure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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