Antero Midstream Corp - AM STOCK NEWS

Antero Resources Corporation (NYSE: AR) and Antero Midstream Corporation (NYSE: AM) announced the retirement of Glen Warren as President and CFO of Antero Resources and President of Antero Midstream, effective April 30, 2021. Warren leaves behind a legacy of significant contributions, having helped grow Antero into a major player in the energy sector. Under his leadership, the companies achieved financial stability, with Antero Resources targeting leverage below 2.0x in 2021. His departure marks a pivotal change, but both companies are positioned for future success.

Antero Midstream Corporation (NYSE: AM) reported Q4 2020 net income of $76 million ($0.16 per share), a significant turnaround from a net loss of $(0.29) per share a year prior. Adjusted Net Income rose 5% year-over-year to $98 million, while Adjusted EBITDA remained stable at $203 million. Free Cash Flow before dividends surged 223% to $135 million. For 2021, the company anticipates net income of $325 to $365 million, with a capital expenditures budget of $240 to $260 million, reallocating some dividends to fund growth projects. A drilling partnership with QL Capital Partners aims to boost production and cash flow.

Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.3075 per share for Q4 2020, unchanged from Q3 2020. This marks the 24th consecutive quarterly dividend since its IPO in November 2014. The dividend will be payable on February 11, 2021, to shareholders of record by February 3, 2021. Antero Midstream will release its Q4 2020 earnings on February 17, 2021, followed by a conference call on February 18, 2021 at 10:00 am MT.

Antero Resources Corporation (NYSE: AR) has priced a private placement of $700 million in 7.625% senior unsecured notes due 2029, set to close on January 26, 2021. The company anticipates net proceeds of approximately $692 million after deducting discounts and expenses. The funds will primarily be used to redeem $311 million of its 5.125% senior notes due 2022 and to reduce borrowings under its credit facility. The offering is not contingent upon the redemption of the 2022 Notes, and the Notes will not be registered under the Securities Act.

Antero Resources Corporation (NYSE: AR) announced plans to offer $500 million in senior unsecured notes due 2029, subject to market conditions. The proceeds will fund the redemption of $310.5 million of 5.125% senior notes due 2022 and to repay credit facility borrowings. The offering is not contingent on the completion of the redemption. The notes will be offered to qualified institutional buyers and have not been registered under the Securities Act. Antero Resources is engaged in the production of natural gas and liquids in the Appalachian Basin.

Antero Resources Corporation (NYSE: AR) plans to offer $500 million in senior unsecured notes due 2026, subject to market conditions. A portion of the proceeds will fund the redemption of $350 million of its 5.125% senior notes due 2022, with the remainder directed to repay borrowings under its credit facility. The offering is aimed exclusively at qualified institutional buyers and is not contingent on redeeming the 2022 notes. The company emphasizes potential risks related to market conditions, commodity price volatility, and operational uncertainties.

Antero Midstream Corporation (NYSE: AM) has priced a private placement of $550 million in 7.875% senior unsecured notes due in 2026. The offering, set to close on November 10, 2020, will generate approximately $544 million after expenses, with funds intended to repay a portion of existing borrowings. The notes are not registered under the Securities Act and are expected to be eligible for trading under Rule 144A and Regulation S. The company operates midstream assets primarily in West Virginia and Ohio.

Antero Midstream Corporation (NYSE: AM) announced a proposed offering of $400 million in senior unsecured notes due 2026, subject to market conditions. The offering aims to raise funds to repay outstanding borrowings under its credit facility. The notes will be offered privately, only to eligible institutional buyers under Rule 144A and Regulation S of the Securities Act. This announcement excludes an intent to sell or solicit offers in jurisdictions where it is illegal.

On October 29, 2020, Antero Resources Corporation (NYSE: AR) announced plans to redeem all outstanding 5.375% senior notes due 2021 on November 30, 2020. The redemption will include the principal amount plus accrued interest. Funding for this redemption will come from a combination of asset sales, operational cash flow, and available credit. This strategic move underscores the company's efforts to manage its debt effectively while enhancing its financial position in the natural gas sector.