Antero (NYSE: AM) completes $400M sale of Utica Shale midstream assets

Rhea-AI Filing Summary

Antero Corporation reported that wholly owned subsidiaries of Antero Midstream Corporation have completed the previously announced sale of substantially all of their Utica Shale midstream assets. The assets were sold to an affiliate of Infinity Natural Resources, Inc. and Northern Oil and Gas, Inc. for aggregate cash consideration of $400 million, subject to customary post-closing and effective-date adjustments under a purchase and sale agreement dated December 5, 2025.

Insights

Energy infrastructure analyst

Antero’s midstream subsidiaries closed a $400M Utica asset sale for cash.

Wholly owned subsidiaries of Antero Midstream Corporation completed the sale of substantially all Utica Shale midstream assets to an affiliate of Infinity Natural Resources and Northern Oil and Gas. The deal provides aggregate cash consideration of $400 million, with standard post-closing and effective-date adjustments.

This transaction monetizes a defined set of Utica midstream assets and converts them into cash, but the excerpt does not describe the size of these assets relative to the overall business or specify intended uses of proceeds. Without that context, the broader financial and strategic impact remains unclear.

Subsequent company communications or future periodic reports may detail how the $400 million is deployed—such as debt reduction, capital investment, or shareholder returns—and how the loss of these midstream assets affects volumes, revenues, and long-term contracts.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 23, 2026

ANTERO MIDSTREAM CORPORATION

(Exact name of registrant as specified in its charter)

Delaware		001-38075		61-1748605
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification Number)

1615 Wynkoop Street

Denver, Colorado 80202

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code (303) 357-7310

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 Per Share		AM		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 7.01 Regulation FD Disclosure.

On February 23, 2026, certain of Antero Midstream Corporation’s wholly-owned subsidiaries completed the previously announced sale of substantially all of their Utica Shale midstream assets to an affiliate of Infinity Natural Resources, Inc. and Northern Oil and Gas, Inc. (“NOG”) for aggregate cash consideration of $400 million, subject to customary post-closing adjustments, adjustments for the effective date of the transaction and other items, as contemplated by the Purchase and Sale Agreement, dated December 5, 2025, among Antero Midstream LLC, Antero Water LLC, Antero Treatment LLC, Infinity Natural Resources, LLC and NOG, as amended to date.

The information furnished in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
104		Cover Page Interactive Data File (embedded with Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ANTERO MIDSTREAM CORPORATION
	By:	/s/ Justin Agnew
		Name: Justin Agnew
		Title: Chief Financial Officer, Vice President–Finance and Investor Relations

Date: February 23, 2026

3

FAQ

What transaction did Antero Corporation (AM) report involving its Utica Shale assets?

Antero reported that wholly owned subsidiaries of Antero Midstream Corporation completed the sale of substantially all Utica Shale midstream assets. The buyer is an affiliate of Infinity Natural Resources, Inc. and Northern Oil and Gas, Inc., converting these assets into cash proceeds.

How much cash did Antero Midstream’s subsidiaries receive for the Utica midstream sale?

The Utica Shale midstream assets were sold for aggregate cash consideration of $400 million. The amount is subject to customary post-closing adjustments and effective-date adjustments under the December 5, 2025 purchase and sale agreement among the parties involved.

Who are the counterparties in Antero Midstream’s $400 million Utica asset sale?

The buyers are an affiliate of Infinity Natural Resources, Inc. and Northern Oil and Gas, Inc.. These parties acquired substantially all of Antero Midstream’s Utica Shale midstream assets under a purchase and sale agreement dated December 5, 2025, as later amended.

When was the Utica Shale midstream asset sale by Antero Midstream’s subsidiaries completed?

The sale of substantially all Utica Shale midstream assets was completed on February 23, 2026. This closing follows a previously announced transaction governed by a December 5, 2025 purchase and sale agreement, as amended by the involved companies.

What agreement governs Antero Midstream’s sale of Utica midstream assets?

The transaction is governed by a Purchase and Sale Agreement dated December 5, 2025 among Antero Midstream LLC, Antero Water LLC, Antero Treatment LLC, Infinity Natural Resources, LLC and Northern Oil and Gas, Inc., as amended, which outlines terms and adjustments to the $400 million consideration.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.0 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.8 KB