AR - Antero Midstream Sets New Mark For Conservative

• The continuing amortization of customer relationships should strengthen the balance sheet in the eyes of the market by reducing the value of an uncertain intangible asset.
• Similarly, the one-time early extinguishment of debt hid the improvement of operating earnings.
• Free cash flow improved as dividends paid by Antero Midstream declined, even though the Antero Resources partnership agreement led to a $65 million increase from the latest midstream budget figure.
• It would be reasonable to assume that part of the capital budget would be financed with debt in the future.
• Management continues to reduce the debt ratio for the foreseeable future.

For further details see: