Antero’s midstream simplification transaction comes months after other companies made similar moves due to a change in tax policy by the U.S. FERC that removed certain benefits for MLPs. (Source: Hart Energy)
Antero Resources Corp. (NYSE: AR) said Oct. 9 it will consolidate its midstream affiliate into a simplified corporate structure the Appalachia shale producer anticipates will fuel share buybacks.
Antero Midstream Partners LP (NYSE: AM) and its general partner, Antero Midstream GP LP (NYSE: AMGP), are set to combine through the acquisition of all outstanding AM units held by the public and Antero Resources in a stock and cash transaction.
As part of the agreement, the combined midstream entity will then convert into a corporation and upon closing of the transaction, expected first-quarter 2019, emerge under the new moniker of Antero Midstream Corp.