Antero Midstream Corp 10-Q for FY2024 Q3

Antero Midstream Corp (AM)

10-Q 2024-10-30 For: 2024-09-30

Added on April 08, 2026

About this 10-Q

Antero Midstream Corp filed this 10-Q on October 30, 2024, covering the quarter ended September 30, 2024 (FY2024 Q3).

Headline figures

Quarter ended September 30, 2024, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $269.87M; up 2.3% from $263.84M a year earlier
Net income: $99.74M; up 2.0% from net income of $97.82M a year earlier
Diluted EPS: $0.21; up 5.0% from $0.20 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	37
Item 4.	Controls and Procedures	38
PART II—OTHER INFORMATION		39
Item 1.	Legal Proceedings	39
Item 1A.	Risk Factors	39
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	39
Item 5	Other Information	39
Item 6.	Exhibits	40
SIGNATURES		41


			(Unaudited)
	December 31,		September 30,
	2023		2024
Assets
Current assets:
Cash and cash equivalents	$	66		—
Accounts receivable–Antero Resources		88,610		98,037
Accounts receivable–third party		952		536
Other current assets		1,500		1,303
Total current assets		91,128		99,876

Property and equipment, net		3,793,523		3,892,154
Investments in unconsolidated affiliates		626,650		609,427
Customer relationships		1,215,431		1,162,427
Other assets, net		10,886		13,567
Total assets	$	5,737,618		5,777,451

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable–Antero Resources	$	4,457		5,317
Accounts payable–third party		10,499		9,718
Accrued liabilities		80,630		75,565
Other current liabilities		831		920
Total current liabilities		96,417		91,520
Long-term liabilities:
Long-term debt		3,213,216		3,171,664
Deferred income tax liability, net		265,879		369,004
Other		10,375		15,362
Total liabilities		3,585,887		3,647,550

Stockholders' equity:
Preferred stock, $0.01 par value: 100,000 authorized as of December 31, 2023 and September 30, 2024
Series A non-voting perpetual preferred stock; 12 designated and 10 issued and outstanding as of December 31, 2023 and September 30, 2024		—		—
Common stock, $0.01 par value; 2,000,000 authorized; 479,713 and 481,295 issued and outstanding as of December 31, 2023 and September 30, 2024, respectively		4,797		4,813
Additional paid-in capital		2,046,487		2,025,348
Retained earnings		100,447		99,740
Total stockholders' equity		2,151,731		2,129,901
Total liabilities and stockholders' equity	$	5,737,618		5,777,451


☒	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,
	2023		2024
Revenue:
Gathering and compression–Antero Resources	$	214,992		234,847
Water handling–Antero Resources		66,132		52,294
Water handling–third party		383		397
Amortization of customer relationships		(17,668)		(17,668)
Total revenue		263,839		269,870
Operating expenses:
Direct operating		51,914		51,724
General and administrative (including $8,349 and $11,945 of equity-based compensation in 2023 and 2024, respectively)		17,633		22,872
Facility idling		722		405
Depreciation		30,745		32,534
Impairment of property and equipment		—		332
Accretion of asset retirement obligations		45		49
Loss (gain) on asset sale		467		(473)
Total operating expenses		101,526		107,443
Operating income		162,313		162,427
Other income (expense):
Interest expense, net		(55,233)		(51,812)
Equity in earnings of unconsolidated affiliates		27,397		27,668
Loss on early extinguishment of debt		—		(341)
Total other expense		(27,836)		(24,485)
Income before income taxes		134,477		137,942
Income tax expense		(36,657)		(38,202)
Net income and comprehensive income	$	97,820		99,740

Net income per common share–basic	$	0.20		0.21
Net income per common share–diluted	$	0.20		0.21

Weighted average common shares outstanding:
Basic		479,676		481,288
Diluted		482,840		485,532


	Nine Months Ended September 30,
	2023		2024
Revenue:
Gathering and compression–Antero Resources	$	625,636		691,433
Water handling–Antero Resources		208,040		178,805
Water handling–third party		929		1,482
Amortization of customer relationships		(53,004)		(53,004)
Total revenue		781,601		818,716
Operating expenses:
Direct operating		162,382		162,051
General and administrative (including $23,175 and $32,871 of equity-based compensation in 2023 and 2024, respectively)		53,142		65,312
Facility idling		1,933		1,339
Depreciation		101,174		107,205
Impairment of property and equipment		—		332
Accretion of asset retirement obligations		133		140
Loss on settlement of asset retirement obligations		620		—
Loss on asset sale		6,036		906
Total operating expenses		325,420		337,285
Operating income		456,181		481,431
Other income (expense):
Interest expense, net		(165,245)		(157,306)
Equity in earnings of unconsolidated affiliates		77,825		82,795
Loss on early extinguishment of debt		—		(14,091)
Total other expense		(87,420)		(88,602)
Income before income taxes		368,761		392,829
Income tax expense		(97,422)		(103,126)
Net income and comprehensive income	$	271,339		289,703

Net income per common share–basic	$	0.57		0.60
Net income per common share–diluted	$	0.56		0.60

Weighted average common shares outstanding:
Basic		479,267		480,765
Diluted		481,908		484,910



							Additional
	Preferred		Common Stock				Paid-In		Retained		Total
	Stock		Shares		Amount		Capital		Earnings		Equity
Balance at December 31, 2022	$	—		478,497	$	4,785		2,104,740		82,793		2,192,318
Dividends to stockholders		—		—		—		(25,709)		(82,793)		(108,502)
Equity-based compensation		—		—		—		6,327		—		6,327
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		148		1		(1,167)		—		(1,166)
Net income and comprehensive income		—		—		—		—		86,507		86,507
Balance at March 31, 2023		—		478,645		4,786		2,084,191		86,507		2,175,484
Dividends to stockholders		—		—		—		(24,267)		(86,507)		(110,774)
Equity-based compensation		—		—		—		8,499		—		8,499
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		1,011		11		(7,193)		—		(7,182)
Net income and comprehensive income		—		—		—		—		87,012		87,012
Balance at June 30, 2023		—		479,656		4,797		2,061,230		87,012		2,153,039
Dividends to stockholders		—		—		—		(21,053)		(87,012)		(108,065)
Equity-based compensation		—		—		—		8,349		—		8,349
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		22		—		(3)		—		(3)
Net income and comprehensive income		—		—		—		—		97,820		97,820
Balance at September 30, 2023	$	—		479,678	$	4,797		2,048,523		97,820		2,151,140

Balance at December 31, 2023	$	—		479,713	$	4,797		2,046,487		100,447		2,151,731
Dividends to stockholders		—		—		—		(8,542)		(100,447)		(108,989)
Equity-based compensation		—		—		—		9,327		—		9,327
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		615		6		(5,622)		—		(5,616)
Net income and comprehensive income		—		—		—		—		103,926		103,926
Balance at March 31, 2024		—		480,328		4,803		2,041,650		103,926		2,150,379
Dividends to stockholders		—		—		—		(8,154)		(103,926)		(112,080)
Equity-based compensation		—		—		—		11,599		—		11,599
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		915		9		(8,856)		—		(8,847)
Net income and comprehensive income		—		—		—		—		86,037		86,037
Balance at June 30, 2024		—		481,243		4,812		2,036,239		86,037		2,127,088
Dividends to stockholders		—		—		—		(22,470)		(86,037)		(108,507)
Equity-based compensation		—		—		—		11,945		—		11,945
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		—		52		1		(366)		—		(365)
Net income and comprehensive income		—		—		—		—		99,740		99,740
Balance at September 30, 2024	$	—		481,295	$	4,813		2,025,348		99,740		2,129,901


Remainder of year ending December 31, 2024	$	17,668
Year ending December 31, 2025		70,672
Year ending December 31, 2026		70,672
Year ending December 31, 2027		70,672
Year ending December 31, 2028		70,672
Thereafter		862,071
Total	$	1,162,427


Remainder of year ending December 31, 2024	$	58,702
Year ending December 31, 2025		320,323
Year ending December 31, 2026		301,108
Year ending December 31, 2027		236,768
Year ending December 31, 2028		168,465
Thereafter		276,219
Total	$	1,361,585


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2024		2023		2024		Reportable Segment
Type of service
Gathering—low pressure	$	106,731		107,418	$	311,410		319,734	Gathering and Processing ⁽¹⁾
Gathering—low pressure fee rebate		(12,000)		—		(36,000)		—	Gathering and Processing ⁽¹⁾
Compression		62,903		63,887		182,858		189,119	Gathering and Processing ⁽¹⁾
Gathering—high pressure		57,358		63,542		167,368		182,580	Gathering and Processing ⁽¹⁾
Fresh water delivery		40,989		28,091		128,214		103,937	Water Handling
Other fluid handling		25,526		24,600		80,755		76,350	Water Handling
Amortization of customer relationships		(9,271)		(9,271)		(27,814)		(27,814)	Gathering and Processing
Amortization of customer relationships		(8,397)		(8,397)		(25,190)		(25,190)	Water Handling
Total	$	263,839		269,870	$	781,601		818,716

Type of contract
Per unit fixed fee	$	226,992		234,847	$	661,636		691,433	Gathering and Processing ⁽¹⁾
Gathering—low pressure fee rebate		(12,000)		—		(36,000)		—	Gathering and Processing ⁽¹⁾
Per unit fixed fee		41,371		28,489		129,143		105,419	Water Handling
Cost plus 3%		19,789		16,469		63,031		53,007	Water Handling
Cost of service fee		5,355		7,733		16,795		21,861	Water Handling
Amortization of customer relationships		(9,271)		(9,271)		(27,814)		(27,814)	Gathering and Processing
Amortization of customer relationships		(8,397)		(8,397)		(25,190)		(25,190)	Water Handling
Total	$	263,839		269,870	$	781,601		818,716


				(Unaudited)
	Estimated	December 31,		September 30,
(in thousands)	Useful Lives	2023		2024
Land	n/a	$	31,668		31,237
Gathering systems and facilities	40-50 years ⁽¹⁾		3,345,845		3,531,786
Permanent buried pipelines and equipment	7-20 years		646,469		654,250
Surface pipelines and equipment	1-7 years		90,871		105,409
Heavy trucks and equipment	3-5 years		5,157		4,413
Above ground storage tanks	5-10 years		5,130		5,131
Other assets	3-20 years		8,110		8,111
Construction-in-progress	n/a		192,852		189,475
Total property and equipment			4,326,102		4,529,812
Less accumulated depreciation			(532,579)		(637,658)
Property and equipment, net		$	3,793,523		3,892,154


		Weighted Average
	Number	Grant Date
	of Units	Fair Value
Total awarded and unvested—December 31, 2023	5,877,170	$	10.28
Granted	2,476,696		13.45
Vested	(2,617,562)		10.01
Forfeited	(68,868)		12.11
Total awarded and unvested—September 30, 2024	5,667,436	$	11.76


					Dividends
Period	Record Date	Dividend Date	Dividends		per Share
Q4 2022	January 25, 2023	February 8, 2023	$	108,364	$	0.2250
*	February 14, 2023	February 14, 2023		138		*
Q1 2023	April 26, 2023	May 10, 2023		110,607		0.2250
*	May 15, 2023	May 15, 2023		137		*
Q2 2023	July 26, 2023	August 9, 2023		107,900		0.2250
*	August 14, 2023	August 14, 2023		138		*
Q3 2023	October 25, 2023	November 8, 2023		107,975		0.2250
*	November 14, 2023	November 14, 2023		137		*
	Total 2023		$	435,396

Q4 2023	January 24, 2024	February 7, 2024	$	107,918	$	0.2250
*	February 14, 2024	February 14, 2024		138		*
Q1 2024	April 24, 2024	May 8, 2024		112,818		0.2250
*	May 15, 2024	May 15, 2024		137		*
Q2 2024	July 24, 2024	August 7, 2024		108,516		0.2250
*	August 14, 2024	August 14, 2024		138		*
	Total 2024		$	329,665


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2023		2024		2023		2024
Net income	$	97,820		99,740		271,339		289,703
Less preferred stock dividends		(138)		(138)		(413)		(413)
Net income available to common shareholders	$	97,682		99,602		270,926		289,290

Net income per common share–basic	$	0.20		0.21		0.57		0.60
Net income per common share–diluted	$	0.20		0.21		0.56		0.60

Weighted average common shares outstanding–basic		479,676		481,288		479,267		480,765
Weighted average common shares outstanding–diluted		482,840		485,532		481,908		484,910


					(Unaudited)
	December 31, 2023				September 30, 2024
(in thousands)	Fair Value ⁽¹⁾		Carrying Value ⁽²⁾		Fair Value ⁽¹⁾		Carrying Value ⁽²⁾
2026 Notes	$	565,785		546,631		—		—
2027 Notes		642,655		647,313		647,725		647,883
2028 Notes		641,030		645,702		650,780		646,435
2029 Notes		720,000		743,470		741,975		744,251
2032 Notes		—		—		619,500		593,195
Total	$	2,569,470		2,583,116		2,659,980		2,631,764


					Total Investment
					in Unconsolidated
(in thousands)	Joint Venture		Stonewall		Affiliates
Balance as of December 31, 2023	$	508,821		117,829		626,650
Additional investments		—		893		893
Equity in earnings of unconsolidated affiliates ⁽¹⁾		76,658		6,137		82,795
Distributions from unconsolidated affiliates		(89,346)		(11,565)		(100,911)
Balance as of September 30, 2024	$	496,133		113,294		609,427


	Three Months Ended September 30, 2023
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	214,992		66,132		—		281,124
Revenue–third-party		—		383		—		383
Amortization of customer relationships		(9,271)		(8,397)		—		(17,668)
Total revenues		205,721		58,118		—		263,839
Operating expenses:
Direct operating		23,547		28,367		—		51,914
General and administrative		12,240		4,039		1,354		17,633
Facility idling		—		722		—		722
Depreciation		17,710		13,035		—		30,745
Accretion of asset retirement obligations		—		45		—		45
Loss on asset sale		467		—		—		467
Total operating expenses		53,964		46,208		1,354		101,526
Operating income	$	151,757		11,910		(1,354)		162,313

Equity in earnings of unconsolidated affiliates	$	27,397		—		—		27,397
Additions to property and equipment	$	31,019		14,267		—		45,286


	Three Months Ended September 30, 2024
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	234,847		52,294		—		287,141
Revenue–third-party		—		397		—		397
Amortization of customer relationships		(9,271)		(8,397)		—		(17,668)
Total revenues		225,576		44,294		—		269,870
Operating expenses:
Direct operating		24,516		27,208		—		51,724
General and administrative		17,086		4,308		1,478		22,872
Facility idling		—		405		—		405
Depreciation		18,632		13,902		—		32,534
Impairment of property and equipment		332		—		—		332
Accretion of asset retirement obligations		—		49		—		49
Gain on asset sale		—		(473)		—		(473)
Total operating expenses		60,566		45,399		1,478		107,443
Operating income (loss)	$	165,010		(1,105)		(1,478)		162,427

Equity in earnings of unconsolidated affiliates	$	27,668		—		—		27,668
Additions to property and equipment	$	48,184		7,351		—		55,535


	Nine Months Ended September 30, 2023
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	625,636		208,040		—		833,676
Revenue–third-party		—		929		—		929
Amortization of customer relationships		(27,814)		(25,190)		—		(53,004)
Total revenues		597,822		183,779		—		781,601
Operating expenses:
Direct operating		72,819		89,563		—		162,382
General and administrative		33,790		15,108		4,244		53,142
Facility idling		—		1,933		—		1,933
Depreciation		61,969		39,205		—		101,174
Accretion of asset retirement obligations		—		133		—		133
Loss on settlement of asset retirement obligations		—		620		—		620
Loss (gain) on asset sale		6,039		(3)		—		6,036
Total operating expenses		174,617		146,559		4,244		325,420
Operating income	$	423,205		37,220		(4,244)		456,181

Equity in earnings of unconsolidated affiliates	$	77,825		—		—		77,825
Additions to property and equipment	$	90,175		39,850		—		130,025


	Nine Months Ended September 30, 2024
	Gathering and		Water				Consolidated
(in thousands)	Processing		Handling		Unallocated ⁽¹⁾		Total
Revenues:
Revenue–Antero Resources	$	691,433		178,805		—		870,238
Revenue–third-party		—		1,482		—		1,482
Amortization of customer relationships		(27,814)		(25,190)		—		(53,004)
Total revenues		663,619		155,097		—		818,716
Operating expenses:
Direct operating		76,849		85,202		—		162,051
General and administrative		48,181		12,524		4,607		65,312
Facility idling		—		1,339		—		1,339
Depreciation		65,661		41,544		—		107,205
Impairment of property and equipment		332		—		—		332
Accretion of asset retirement obligations		—		140		—		140
Loss on asset sale		—		906		—		906
Total operating expenses		191,023		141,655		4,607		337,285
Operating income	$	472,596		13,442		(4,607)		481,431

Equity in earnings of unconsolidated affiliates	$	82,795		—		—		82,795
Additions to property and equipment	$	110,514		23,493		—		134,007


					Amount of
	Three Months Ended September 30,				Increase		Percentage
	2023		2024		or Decrease		Change
Operating Data:
Gathering—low pressure (MMcf)		305,676		301,468		(4,208)		(1)	%
Compression (MMcf)		300,967		300,790		(177)		*
Gathering—high pressure (MMcf)		269,986		280,189		10,203		4	%
Fresh water delivery (MBbl)		9,750		6,514		(3,236)		(33)	%
Other fluid handling (MBbl)		4,961		4,751		(210)		(4)	%
Wells serviced by fresh water delivery		15		9		(6)		(40)	%
Gathering—low pressure (MMcf/d)		3,323		3,277		(46)		(1)	%
Compression (MMcf/d)		3,271		3,269		(2)		*
Gathering—high pressure (MMcf/d)		2,935		3,046		111		4	%
Fresh water delivery (MBbl/d)		106		71		(35)		(33)	%
Other fluid handling (MBbl/d)		54		52		(2)		(4)	%
Average Realized Fees⁽¹⁾:
Average gathering—low pressure fee ($/Mcf)	$	0.35		0.36		0.01		3	%
Average compression fee ($/Mcf)	$	0.21		0.21		—		*
Average gathering—high pressure fee ($/Mcf)	$	0.21		0.23		0.02		10	%
Average fresh water delivery fee ($/Bbl)	$	4.20		4.31		0.11		3	%
Joint Venture Operating Data:
Processing—Joint Venture (MMcf)		148,672		149,039		367		*
Fractionation—Joint Venture (MBbl)		3,680		3,680		—		*
Processing—Joint Venture (MMcf/d)		1,616		1,620		4		*
Fractionation—Joint Venture (MBbl/d)		40		40		—		*


					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	Under the Plan ⁽²⁾
July 1, 2024 – July 31, 2024	25,018	$	14.62	—	$	500,000,000
August 1, 2024 – August 31, 2024	—		—	—		500,000,000
September 1, 2024 – September 30, 2024	—		—	—		500,000,000
Total	25,018	$	14.62	—


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		Certificate of Amendment to Certificate of Incorporation of Antero Midstream Corporation, dated June 8, 2023 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on June 8, 2023).
3.4		Amended and Restated Bylaws of Antero Midstream Corporation, dated February 14, 2023 (incorporated by reference to Exhibit 3.3 to the Company’s Annual Report on Form 10-K (Commission File No. 001-38075) filed on February 15, 2023).
3.5		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).
4.1		Indenture, dated as of January 16, 2024, by and among Antero Midstream Partners LP, Antero Midstream Finance Corporation, the guarantors party thereto and Computershare Trust Company, N.A., as trustee (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on January 16, 2024).
4.2		Form of 6.625% Senior Note due 2032 (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K (Commission File No. 001-38075) filed on January 16, 2024).
10.1		Third Amended and Restated Credit Agreement, dated July 30, 2024, among Antero Midstream Partners LP, as the Borrower, the Lenders party thereto and Wells Fargo Banks, National Association, as Administrative Agent (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q (Commission File No. 001-38075) filed on July 31, 2024).
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, 2024, 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, Vice President – Finance and Treasurer

Date:	October 30, 2024


Date: October 30, 2024

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