Antero Midstream GP LP Launches Initial Public Offering

DENVER, April 24, 2017 /PRNewswire/ -- Antero Midstream GP LP ("AMGP") today announced the commencement of its initial public offering of 37,250,000 common shares representing limited partner interests in AMGP, at an anticipated initial public offering price between $22.00 and $25.00 per common share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC").  The underwriters will be granted a 30-day option to purchase up to an additional 5,587,500 common shares.  AMGP has been approved to list its common shares on the New York Stock Exchange under the symbol "AMGP", subject to official notice of issuance.  AMGP will own the general partner of Antero Midstream Partners LP (NYSE: AM) ("Antero Midstream") and incentive distribution rights in Antero Midstream and has elected to be classified as an entity taxable as a corporation for U.S. federal income tax purposes.

The common shares being offered represent an approximate 20% limited partner interest in AMGP (or approximately 23% if the underwriters exercise in full their option to purchase additional common shares).  Immediately following the offering, Antero Resources Investment LLC will own the remaining approximate 80% limited partner interest in AMGP (or approximately 77% if the underwriters exercise in full their option to purchase additional common shares). 

Morgan Stanley, Barclays and J.P. Morgan will act as joint book-running managers for the offering. Baird, Citigroup, Goldman Sachs and Wells Fargo Securities will act as book-running managers.

In connection with the offering, Antero Resources Midstream Management LLC ("ARMM") will be converted into a Delaware limited partnership, and, in connection with such conversion, will change its name to Antero Midstream GP LP.  ARMM has filed a registration statement relating to these securities with the SEC, which has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.  This offering will be made only by means of a written prospectus. A copy of the preliminary prospectus for the offering may be obtained, when available, from:

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Antero Midstream GP LP will be a Delaware limited partnership that, following the completion of the offering, will own the general partner of Antero Midstream and all of the incentive distribution rights in Antero Midstream.

This release includes "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond AMGPs control. All statements, other than historical facts, included in this release are forward-looking statements. All forward-looking statements speak only as of the date of this release and are based upon a number of assumptions. Although AMGP believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that the assumptions underlying these forward-looking statements will be accurate or the plans, intentions or expectations expressed herein 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.

AMGP 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 AMGP's and Antero Midstream's control, incident to Antero Midstream's business. These risks include, but are not limited to, commodity price volatility, 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 and the timing of development expenditures.

For more information, contact Michael Kennedy – CFO of Antero Midstream GP LP at (303) 357-6782 or [email protected].

SOURCE Antero Midstream GP LP