Antero Midstream Corp 10-Q for FY2022 Q3

Antero Midstream Corp (AM)

10-Q 2022-10-26 For: 2022-09-30

Added on April 08, 2026

About this 10-Q

Antero Midstream Corp filed this 10-Q on October 26, 2022, covering the quarter ended September 30, 2022 (FY2022 Q3).

Headline figures

Quarter ended September 30, 2022, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $231.03M; up 2.8% from $224.8M a year earlier
Net income: $84.01M; down 5.9% from net income of $89.33M a year earlier
Diluted EPS: $0.17; down 10.5% from $0.19 a year earlier

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Delaware		61-1748605
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

1615 Wynkoop Street Denver, Colorado		80202
(Address of principal executive offices)		(Zip Code)



Securities registered pursuant to section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01	AM	New York Stock Exchange


Large Accelerated Filer ☒	Accelerated Filer ☐
Non-accelerated Filer ☐	Smaller Reporting Company ☐
Emerging Growth Company ☐



		Page
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS		1
PART I—FINANCIAL INFORMATION		3
Item 1.	Condensed Consolidated Financial Statements (Unaudited)	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	26
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	39
Item 4.	Controls and Procedures	40
PART II—OTHER INFORMATION		41
Item 1.	Legal Proceedings	41
Item 1A.	Risk Factors	41
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	42
Item 6.	Exhibits	43
SIGNATURES		44


			(Unaudited)
	December 31,		September 30,
	2021		2022
Assets
Current assets:
Accounts receivable–Antero Resources	$	81,197		77,301
Accounts receivable–third party		747		1,988
Income tax receivable		940		940
Other current assets		920		556
Total current assets		83,804		80,785

Property and equipment, net		3,394,746		3,508,008
Investments in unconsolidated affiliates		696,009		659,006
Customer relationships		1,356,775		1,303,771
Other assets, net		12,667		12,251
Total assets	$	5,544,001		5,563,821

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable–Antero Resources	$	4,956		2,648
Accounts payable–third party		23,592		24,125
Accrued liabilities		80,838		72,952
Other current liabilities		4,623		6,657
Total current liabilities		114,009		106,382
Long-term liabilities:
Long-term debt		3,122,910		3,143,169
Deferred income tax liability		13,721		98,519
Other		6,663		3,896
Total liabilities		3,257,303		3,351,966

Stockholders' Equity:
Preferred stock, $0.01 par value: 100,000 authorized as of December 31, 2021 and September 30, 2022
Series A non-voting perpetual preferred stock; 12 designated and 10 issued and outstanding as of December 31, 2021 and September 30, 2022		—		—
Common stock, $0.01 par value; 2,000,000 authorized; 477,495 and 478,462 issued and outstanding as of December 31, 2021 and September 30, 2022, respectively		4,775		4,784
Additional paid-in capital		2,414,398		2,123,057
Retained earnings (accumulated deficit)		(132,475)		84,014
Total stockholders' equity		2,286,698		2,211,855
Total liabilities and stockholders' equity	$	5,544,001		5,563,821


☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	Three Months Ended September 30,
	2021		2022
Revenue:
Gathering and compression–Antero Resources	$	188,716		185,640
Water handling–Antero Resources		53,511		61,411
Water handling–third party		245		1,651
Amortization of customer relationships		(17,668)		(17,668)
Total revenue		224,804		231,034
Operating expenses:
Direct operating		39,499		46,648
General and administrative (including $3,255 and $5,553 of equity-based compensation in 2021 and 2022, respectively)		14,810		13,587
Facility idling		870		865
Depreciation		27,487		34,206
Impairment of property and equipment		203		—
Accretion of asset retirement obligations		114		50
Gain on asset sale		—		(2,092)
Total operating expenses		82,983		93,264
Operating income		141,821		137,770
Other income (expense):
Interest expense, net		(44,544)		(47,835)
Equity in earnings of unconsolidated affiliates		24,088		24,411
Total other expense		(20,456)		(23,424)
Income before income taxes		121,365		114,346
Income tax expense		(32,038)		(30,332)
Net income and comprehensive income	$	89,327		84,014

Net income per share–basic	$	0.19		0.18
Net income per share–diluted	$	0.19		0.17

Weighted average common shares outstanding:
Basic		477,442		478,460
Diluted		479,695		480,318


	Nine Months Ended September 30,
	2021		2022
Revenue:
Gathering and compression–Antero Resources	$	566,544		552,154
Water handling–Antero Resources		167,832		176,994
Water handling–third party		340		2,288
Amortization of customer relationships		(53,004)		(53,004)
Total revenue		681,712		678,432
Operating expenses:
Direct operating		118,368		131,959
General and administrative (including $10,326 and $14,026 of equity-based compensation in 2021 and 2022, respectively)		46,991		47,597
Facility idling		3,033		3,198
Depreciation		80,956		98,181
Impairment of property and equipment		1,582		3,702
Accretion of asset retirement obligations		347		178
Loss on settlement of asset retirement obligations		—		539
Loss (gain) on asset sale		3,628		(2,242)
Total operating expenses		254,905		283,112
Operating income		426,807		395,320
Other income (expense):
Interest expense, net		(130,915)		(137,540)
Equity in earnings of unconsolidated affiliates		66,347		70,467
Loss on early extinguishment of debt		(20,701)		—
Total other expense		(85,269)		(67,073)
Income before income taxes		341,538		328,247
Income tax expense		(88,547)		(84,798)
Net income and comprehensive income	$	252,991		243,449

Net income per share–basic	$	0.53		0.51
Net income per share–diluted	$	0.53		0.51

Weighted average common shares outstanding:
Basic		477,196		478,144
Diluted		479,501		480,342


									Retained
							Additional		Earnings
	Preferred		Common Stock				Paid-In		(Accumulated		Total
	Stock		Shares		Amount		Capital		Deficit)		Equity
Balance at December 31, 2020	$	—		476,639	$	4,766		2,877,612		(464,092)		2,418,286
Dividends to stockholders		—		—		—		(147,332)		—		(147,332)
Equity-based compensation		—		—		—		4,012		—		4,012
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		268		3		(1,544)		—		(1,541)
Net income and comprehensive income		—		—		—		—		83,441		83,441
Balance at March 31, 2021		—		476,907		4,769		2,732,748		(380,651)		2,356,866
Dividends to stockholders		—		—		—		(108,936)		—		(108,936)
Equity-based compensation		—		—		—		3,059		—		3,059
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		451		5		(2,781)		—		(2,776)
Net income and comprehensive income		—		—		—		—		80,223		80,223
Balance at June 30, 2021		—		477,358		4,774		2,624,090		(300,428)		2,328,436
Dividends to stockholders		—		—		—		(107,857)		—		(107,857)
Equity-based compensation		—		—		—		3,255		—		3,255
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		102		1		(569)		—		(568)
Net income and comprehensive income		—		—		—		—		89,327		89,327
Balance at September 30, 2021	$	—		477,460	$	4,775		2,518,919		(211,101)		2,312,593

Balance at December 31, 2021	$	—		477,495	$	4,775		2,414,398		(132,475)		2,286,698
Dividends to stockholders		—		—		—		(108,287)		—		(108,287)
Equity-based compensation		—		—		—		2,832		—		2,832
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		188		2		(1,331)		—		(1,329)
Net income and comprehensive income		—		—		—		—		80,040		80,040
Balance at March 31, 2022		—		477,683		4,777		2,307,612		(52,435)		2,259,954
Dividends to stockholders		—		—		—		(109,433)		—		(109,433)
Equity-based compensation		—		—		—		5,641		—		5,641
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		754		7		(5,445)		—		(5,438)
Net income and comprehensive income		—		—		—		—		79,395		79,395
Balance at June 30, 2022		—		478,437		4,784		2,198,375		26,960		2,230,119
Dividends to stockholders		—		—		—		(80,853)		(26,960)		(107,813)
Equity-based compensation		—		—		—		5,553		—		5,553
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		25		—		(18)		—		(18)
Net income and comprehensive income		—		—		—		—		84,014		84,014
Balance at September 30, 2022	$	—		478,462	$	4,784		2,123,057		84,014		2,211,855


Customer relationships as of December 31, 2021	$	1,356,775
Amortization of customer relationships		(53,004)
Customer relationships as of September 30, 2022	$	1,303,771


Remainder of year ending December 31, 2022	$	17,668
Year ending December 31, 2023		70,672
Year ending December 31, 2024		70,672
Year ending December 31, 2025		70,672
Year ending December 31, 2026		70,672
Thereafter		1,003,415
Total	$	1,303,771


Remainder of year ending December 31, 2022	$	45,492
Year ending December 31, 2023		298,655
Year ending December 31, 2024		299,473
Year ending December 31, 2025		285,175
Year ending December 31, 2026		271,762
Thereafter		562,414
Total	$	1,762,971


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2021		2022		2021		2022		Reportable Segment
Type of service
Gathering—low pressure	$	87,139		92,091		265,206		273,188	Gathering and Processing ⁽¹⁾
Gathering—low pressure rebate		—		(12,000)		—		(36,000)	Gathering and Processing ⁽¹⁾
Compression		49,765		52,364		147,273		155,462	Gathering and Processing ⁽¹⁾
Gathering—high pressure		51,812		53,185		154,065		159,504	Gathering and Processing ⁽¹⁾
Fresh water delivery		33,004		38,445		108,113		111,609	Water Handling
Other fluid handling		20,752		24,617		60,059		67,673	Water Handling
Amortization of customer relationships		(9,271)		(9,271)		(27,813)		(27,814)	Gathering and Processing
Amortization of customer relationships		(8,397)		(8,397)		(25,191)		(25,190)	Water Handling
Total	$	224,804		231,034		681,712		678,432

Type of contract
Per Unit Fixed Fee	$	188,716		197,640		566,544		588,154	Gathering and Processing ⁽¹⁾
Gathering—low pressure rebate		—		(12,000)		—		(36,000)	Gathering and Processing ⁽¹⁾
Per Unit Fixed Fee		33,004		38,921		108,113		112,722	Water Handling
Cost plus 3%		16,952		19,346		48,727		51,384	Water Handling
Cost of service fee		3,800		4,795		11,332		15,176	Water Handling
Amortization of customer relationships		(9,271)		(9,271)		(27,813)		(27,814)	Gathering and Processing
Amortization of customer relationships		(8,397)		(8,397)		(25,191)		(25,190)	Water Handling
Total	$	224,804		231,034		681,712		678,432


				(Unaudited)
	Estimated	December 31,		September 30,
(in thousands)	Useful Lives	2021		2022
Land	n/a	$	23,369		26,682
Gathering systems and facilities	40-50 years ⁽¹⁾		2,817,918		3,052,459
Permanent buried pipelines and equipment	7-20 years		582,481		602,343
Surface pipelines and equipment	1-7 years		54,542		67,520
Heavy trucks and equipment	3-5 years		5,157		5,157
Above ground storage tanks	5-10 years		2,946		2,953
Construction-in-progress	n/a		174,271		114,582
Total property and equipment			3,660,684		3,871,696
Less accumulated depreciation			(265,938)		(363,688)
Property and equipment, net		$	3,394,746		3,508,008


	Nine Months Ended September 30,
	2021		2022
Cash flows provided by (used in) operating activities:
Net income	$	252,991		243,449
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		80,956		98,181
Accretion of asset retirement obligations		347		178
Impairment		1,582		3,702
Deferred income tax expense		88,547		84,798
Equity-based compensation		10,326		14,026
Equity in earnings of unconsolidated affiliates		(66,347)		(70,467)
Distributions from unconsolidated affiliates		87,115		90,470
Amortization of customer relationships		53,004		53,004
Amortization of deferred financing costs		4,152		4,268
Settlement of asset retirement obligations		(814)		(1,395)
Loss on settlement of asset retirement obligations		—		539
Loss (gain) on asset sale		3,628		(2,242)
Loss on early extinguishment of debt		20,701		—

Changes in assets and liabilities:
Accounts receivable–Antero Resources		(11,429)		5,596
Accounts receivable–third party		594		(822)
Income tax receivable		16,311		—
Other current assets		810		242
Accounts payable–Antero Resources		(705)		(2,006)
Accounts payable–third party		11,058		12,228
Accrued liabilities		(7,337)		(2,773)
Net cash provided by operating activities		545,490		530,976
Cash flows provided by (used in) investing activities:
Additions to gathering systems and facilities		(120,727)		(190,407)
Additions to water handling systems		(36,221)		(45,747)
Investments in unconsolidated affiliates		(2,070)		—
Return of investment in unconsolidated affiliate		—		17,000
Cash received in asset sale		1,653		4,026
Change in other assets		—		(24)
Change in other liabilities		—		(804)
Net cash used in investing activities		(157,365)		(215,956)
Cash flows provided by (used in) financing activities:
Dividends to stockholders		(363,712)		(325,120)


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2021		2022		2021		2022
Restricted stock units ⁽¹⁾	$	2,905		4,525		8,608		11,438
Performance share units ⁽¹⁾		123		833		1,036		1,938
Equity awards issued to directors		227		195		682		650
Total expense	$	3,255		5,553		10,326		14,026


		Weighted Average
	Number	Grant Date
	of Units	Fair Value
Total AM LTIP RSUs awarded and unvested—December 31, 2021	3,573,377	$	8.11
Granted	2,750,896		11.28
Vested	(1,243,878)		8.40
Forfeited	(159,119)		9.37
Total AM LTIP RSUs awarded and unvested—September 30, 2022	4,921,276	$	9.77


					Dividends
Period	Record Date	Dividend Date	Dividends		per Share
Q4 2020	February 3, 2021	February 11, 2021	$	147,194	$	0.3075
*	February 16, 2021	February 16, 2021		138		*
Q1 2021	April 28, 2021	May 12, 2021		108,799		0.2250
*	May 17, 2021	May 17, 2021		137		*
Q2 2021	July 28, 2021	August 11, 2021		107,719		0.2250
*	August 16, 2021	August 16, 2021		138		*
Q3 2021	October 27, 2021	November 10, 2021		107,459		0.2250
*	November 15, 2021	November 15, 2021		137		*
	Total 2021		$	471,721

Q4 2021	January 26, 2022	February 9, 2022	$	108,149	$	0.2250
*	February 14, 2022	February 14, 2022		138		*
Q1 2022	April 27, 2022	May 11, 2022		109,296		0.2250
*	May 16, 2022	May 16, 2022		137		*
Q2 2022	July 27, 2022	August 10, 2022		107,675		0.2250
*	August 15, 2022	August 15, 2022		138		*
	Total 2022		$	325,533


					(Unaudited)
	December 31, 2021				September 30, 2022
(in thousands)	Fair Value ⁽¹⁾		Carrying Value ⁽²⁾		Fair Value ⁽¹⁾		Carrying Value ⁽²⁾
2026 Notes	$	604,450		544,294		551,430		545,128
2027 Notes		672,750		645,970		601,120		646,444
2028 Notes		680,225		643,902		591,500		644,554
2029 Notes		783,750		741,544		657,375		742,243
Total	$	2,741,175		2,575,710		2,401,425		2,578,369


					Total Investment
			MarkWest		in Unconsolidated
(in thousands)	Stonewall			Joint Venture	Affiliates
Balance as of December 31, 2021	$	130,572		565,437		696,009
Equity in earnings of unconsolidated affiliates ⁽¹⁾		5,367		65,100		70,467
Distributions from unconsolidated affiliates		(9,000)		(81,470)		(90,470)
Return of investment in unconsolidated affiliate		—		(17,000)		(17,000)
Balance as of September 30, 2022	$	126,939		532,067		659,006


	Three Months Ended September 30, 2021
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	188,716		53,511		—		242,227
Revenue–third-party		—		245		—		245
Amortization of customer relationships		(9,271)		(8,397)		—		(17,668)
Total revenues		179,445		45,359		—		224,804
Operating expenses:
Direct operating		16,161		23,338		—		39,499
General and administrative		9,076		4,554		1,180		14,810
Facility idling		—		870		—		870
Depreciation		15,151		12,336		—		27,487
Impairment of property and equipment		—		203		—		203
Accretion of asset retirement obligations		—		114		—		114
Total operating expenses		40,388		41,415		1,180		82,983
Operating income	$	139,057		3,944		(1,180)		141,821

Equity in earnings of unconsolidated affiliates	$	24,088		—		—		24,088
Additions to property and equipment	$	69,069		13,514		—		82,583


	Three Months Ended September 30, 2022
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	185,640		61,411		—		247,051
Revenue–third-party		—		1,651		—		1,651
Amortization of customer relationships		(9,271)		(8,397)		—		(17,668)
Total revenues		176,369		54,665		—		231,034
Operating expenses:
Direct operating		19,813		26,835		—		46,648
General and administrative		9,890		2,425		1,272		13,587
Facility idling		—		865		—		865
Depreciation		21,177		13,029		—		34,206
Accretion of asset retirement obligations		—		50		—		50
Gain on asset sale		(2,056)		(36)		—		(2,092)
Total operating expenses		48,824		43,168		1,272		93,264
Operating income	$	127,545		11,497		(1,272)		137,770

Equity in earnings of unconsolidated affiliates	$	24,411		—		—		24,411
Additions to property and equipment, net	$	58,742		15,378		—		74,120


	Nine Months Ended September 30, 2021
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	566,544		167,832		—		734,376
Revenue–third-party		—		340		—		340
Amortization of customer relationships		(27,813)		(25,191)		—		(53,004)
Total revenues		538,731		142,981		—		681,712
Operating expenses:
Direct operating		50,409		67,959		—		118,368
General and administrative		26,459		17,107		3,425		46,991
Facility idling		—		3,033		—		3,033
Depreciation		44,268		36,688		—		80,956
Impairment of property and equipment		1,218		364		—		1,582
Accretion of asset retirement obligations		—		347		—		347
Loss on asset sale		3,628		—		—		3,628
Total operating expenses		125,982		125,498		3,425		254,905
Operating income	$	412,749		17,483		(3,425)		426,807

Equity in earnings of unconsolidated affiliates	$	66,347		—		—		66,347
Additions to property and equipment	$	120,727		36,221		—		156,948


	Nine Months Ended September 30, 2022
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	552,154		176,994		—		729,148
Revenue–third-party		—		2,288		—		2,288
Amortization of customer relationships		(27,814)		(25,190)		—		(53,004)
Total revenues		524,340		154,092		—		678,432
Operating expenses:
Direct operating		56,338		75,621		—		131,959
General and administrative		30,081		13,015		4,501		47,597
Facility idling		—		3,198		—		3,198
Depreciation		59,838		38,343		—		98,181
Impairment of property and equipment		1,130		2,572		—		3,702
Accretion of asset retirement obligations		—		178		—		178
Loss on settlement of asset retirement obligations		—		539		—		539
Gain on asset sale		(2,119)		(123)		—		(2,242)
Total operating expenses		145,268		133,343		4,501		283,112
Operating income	$	379,072		20,749		(4,501)		395,320

Equity in earnings of unconsolidated affiliates	$	70,467		—		—		70,467
Additions to property and equipment, net	$	190,407		45,747		—		236,154


	Low Pressure Gathering	Quarterly Fee
	Volume Growth Incentive	Reduction
	Targets (MMcf/d)	(in millions)
Threshold 1	>2,900 and <3,150	$12.0
Threshold 2	>3,150 and <3,400	$15.5
Threshold 3	>3,400	$19.0


	Three Months Ended				Amount of
	September 30,				Increase		Percentage
	2021		2022		or Decrease		Change
Operating Data:
Gathering—low pressure (MMcf)		264,999		271,569		6,570		2	%
Compression (MMcf)		251,555		257,025		5,470		2	%
Gathering—high pressure (MMcf)		258,585		257,757		(828)		*
Fresh water delivery (MBbl)		8,335		9,515		1,180		14	%
Other fluid handling (MBbl)		4,325		5,280		955		22	%
Wells serviced by fresh water delivery		18		18		—		*
Gathering—low pressure (MMcf/d)		2,880		2,952		72		3	%
Compression (MMcf/d)		2,734		2,794		60		2	%
Gathering—high pressure (MMcf/d)		2,811		2,802		(9)		*
Fresh water delivery (MBbl/d)		91		103		12		13	%
Other fluid handling (MBbl/d)		47		57		10		21	%
Average Realized Fees:
Average gathering—low pressure fee ($/Mcf)	$	0.33		0.34		0.01		3	%
Average compression fee ($/Mcf)	$	0.20		0.21		0.01		3	%
Average gathering—high pressure fee ($/Mcf)	$	0.20		0.21		0.01		3	%
Average fresh water delivery fee ($/Bbl)	$	3.96		4.04		0.08		2	%
Joint Venture Operating Data:
Processing—Joint Venture (MMcf)		141,580		135,611		(5,969)		(4)	%
Fractionation—Joint Venture (MBbl)		3,408		3,287		(121)		(4)	%
Processing—Joint Venture (MMcf/d)		1,539		1,474		(65)		(4)	%
Fractionation—Joint Venture (MBbl/d)		37		36		(1)		(3)	%


					Approximate
				Total Number of	Dollar Value of
	Total Number	Average Price		Shares Purchased	Shares that May
	of Shares	Paid per		as Part of Publicly	Yet be Purchased
Period	Purchased ⁽¹⁾	Share		Announced Plans ⁽²⁾	Under the Plan
July 1, 2022 – July 31, 2022	1,965	$	9.26	—	$	149,767,409
August 1, 2022 – August 31, 2022	—		—	—		N/A
September 1, 2022 – September 30, 2022	—		—	—		N/A
Total	1,965	$	9.26	—	$	149,767,409


Exhibit Number		Description of Exhibit
3.1		Certificate of Conversion of Antero Midstream Corporation, dated March 12, 2019 (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on March 12, 2019).
3.2		Certificate of Incorporation of Antero Midstream Corporation, dated March 12, 2019 (incorporated by reference to Exhibit 3.3 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on March 12, 2019).
3.3		Bylaws of Antero Midstream Corporation, dated March 12, 2019 (incorporated by reference to Exhibit 3.4 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on March 12, 2019).
3.4		Certificate of Designations of Antero Midstream Corporation, dated March 12, 2019 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on March 12, 2019).
31.1	*	Certification of the Company’s Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 7241).
31.2	*	Certification of the Company’s Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 7241).
32.1	*	Certification of the Company’s Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350).
32.2	*	Certification of the Company’s Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350).
101	*	The following financial information from this Quarterly Report on Form 10-Q of Antero Midstream Corporation for the quarter ended September 30, 2022, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations and Comprehensive Income, (iii) Condensed Consolidated Statements of Stockholders’ Equity, (iv) Condensed Consolidated Statements of Cash Flows, and (v) Notes to the Unaudited Condensed Consolidated Financial Statements, tagged as blocks of text.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).



ANTERO MIDSTREAM CORPORATION

By:	/s/ Brendan E. Krueger
	BRENDAN E. KRUEGER
	Chief Financial Officer, Treasurer and Vice President of Finance

Date:	October 26, 2022


Date: October 26, 2022

/s/ Paul M. Rady
Paul M. Rady
President and Chief Executive Officer