Antero Midstream's Business Segments

We are a growth-oriented limited partnership formed by Antero Resources Corporation (“Antero Resources”) to own, operate and develop midstream energy assets to service Antero Resources’ rapidly increasing production. Our assets consist of gathering pipelines, compressor stations, processing and fractionation plants and water handling and treatment assets, through which we provide midstream services to Antero Resources under long-term, fixed-fee contracts. Our assets are located in the rapidly developing liquids-rich Marcellus Shale and Utica Shale located in West Virginia and Ohio, two of the premier North American shale plays. We believe that our strategically located assets and our relationship with Antero Resources position us to become a leading midstream energy company serving the Marcellus and Utica Shales.

Antero Midstream Corporation is primarily focused on providing essential midstream services in the natural gas and natural gas liquids (NGLs) industry in the Appalachian Basin, specifically in West Virginia and Ohio. Its operations encompass various segments that are crucial for the processing and transportation of natural gas, making it a key player in the energy sector. Below is an extensive description of Antero Midstreams segments, products, and services:

Segments

1. Gathering and Compression Services
- Antero Midstream owns and operates an extensive network of gathering pipelines and compression stations. This system is designed to collect natural gas produced by Antero Resources and other producers within the area. By facilitating the efficient movement of gas from wellheads to processing facilities, the gathering and compression segment plays an integral role in ensuring timely delivery of natural gas to market.

2. Processing Services
- The company’s processing facilities are designed to separate natural gas liquids (NGLs) from natural gas. Antero Midstream’s processing plants are strategically located near production areas to minimize transportation costs and maximize efficiency. The extracted NGLs can then be sold separately, providing additional revenue streams.

3. Water Solutions
- Antero Midstream provides comprehensive water solutions for hydraulic fracturing operations, which includes the sourcing, transportation, and disposal of water used in drilling. The company has developed an extensive water infrastructure that enables efficient management of water resources throughout the hydraulic fracturing process and mitigates environmental impact.

4. NGL Transportation and Fractionation
- The company operates NGL transportation pipelines that deliver these products to fractionation facilities. Fractionation is the separation of NGLs into individual components, such as ethane, propane, and butane, which can then be sold to various markets. Antero Midstream plays a crucial role in ensuring that these NGLs are transported and fractionated efficiently, adding value to the overall supply chain.

5. Environmental Stewardship and Compliance
- Antero Midstream prioritizes environmental sustainability and compliance with regulatory standards across its operations. Efforts include the use of advanced technologies to minimize emissions, successful remediation of sites, and adherence to best practices in water management.

Products and Services

- Natural Gas Gathering
- High-capacity gathering systems for the efficient transportation of raw natural gas from production sites to processing plants.

- Compression Services
- Compression facilities that boost the pressure of natural gas to facilitate flow through pipelines.

- Natural Gas Processing
- Facilities that process natural gas to remove impurities and separate out NGLs, ensuring the gas meets market specifications.

- NGL Fractionation
- After transportation, NGLs are fractionated into usable products such as ethane, propane, and butane. This service adds value by providing refined products that meet consumer demand.

- Water Management Solutions
- Integrated solutions for sourcing, transporting, treating, and disposing of water used in hydraulic fracturing, ensuring responsible water usage and compliance with environmental regulations.

- Environmental Compliance Services
- Ongoing assessments and audits to ensure compliance with environmental regulations, alongside investments in technology aimed at reducing the environmental footprint of operations.

- Asset Optimization and Maintenance
- Data analytics and operational strategies aimed at optimizing the performance and efficiency of midstream assets, which ultimately supports long-term sustainability.

In conclusion, Antero Midstream Corporation operates through segments that are crucial for gathering, processing, and transporting natural gas and NGLs, along with offering water management solutions. Its portfolio emphasizes efficiency, sustainability, and compliance, which are essential in todays energy landscape.