Antero Midstream Partners Investor Presentation Deck
Strong Sponsor with Scale to Capitalize on Resource
AM's sponsor and primary customer (AR), is the largest NGL producer in
the U.S. with a strong balance sheet and leverage in the low 2x range
Top U.S. C2+ NGL Producers - 2019E(1)
2019 Liquids Production vs. Revenue(¹)(2)
MBbl/d
150 147
140
130
120
110
100
90
80
70
60
50
AR
EOG
RRC
APC
DVN
1) Factset consensus estimates as of 02/01/2019.
2) Liquids defined as oil and natural gas liquids (NGLs).
OXY
Largest
NGL producer
in the U.S.
COP
MRO
NBL
PXD
2019E Liquids Revenues ($MM)
$7,000
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
NGLs position AR
with Permian
producers in liquids
revenue
JAG
PE
WPX
SM
QEP
CDEV
XEC
AR
CXO
FANG
More Scale
200
PXD
More Leverage to Liquids Pricing
100
2019E Liquids Production (MBbl/d)
300
400
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