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Antero Midstream Corporation (NYSE: AM) |
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Description of Antero Midstream's Business Segments
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.
Composition of Antero Midstream Corporation Revenues by
Segments |
| |
| Fixed fee Gathering And Processing |
|
 87.02 % |
of total Revenue |
| Fixed fee Water Handling |
|
10.56 % |
of total Revenue |
| Cost plus 3 Water Handling |
|
6.1 % |
of total Revenue |
| Cost of service fee Water Handling |
|
2.87 % |
of total Revenue |
| Gathering-low pressure Gathering And Processing |
|
39.8 % |
of total Revenue |
| Gathering-high pressure Gathering And Processing |
|
23.55 % |
of total Revenue |
| Compression Gathering And Processing |
|
23.67 % |
of total Revenue |
| Fresh water delivery Water Handling |
|
10.41 % |
of total Revenue |
| Other fluid handling Water Handling |
|
9.12 % |
of total Revenue |
| Antero |
|
106.4 % |
of total Revenue |
| Third party |
|
0.15 % |
of total Revenue |
| Gathering And Processing |
|
83.59 % |
of total Revenue |
| Gathering And Processing Antero |
|
87.02 % |
of total Revenue |
| Water Handling |
|
16.41 % |
of total Revenue |
| Water Handling Antero |
|
19.38 % |
of total Revenue |
| Water Handling Third party |
|
0.15 % |
of total Revenue |
Q3 three months ended (Sep 30 2024)
|
| Revenues by Business Segments |
Revenues
(in millions $) |
%
(of total Revenues) |
| Fixed fee Gathering And Processing |
234.85 |
87.02 % |
| Fixed fee Water Handling |
28.49 |
10.56 % |
| Cost plus 3 Water Handling |
16.47 |
6.1 % |
| Cost of service fee Water Handling |
7.73 |
2.87 % |
| Gathering-low pressure Gathering And Processing |
107.42 |
39.8 % |
| Gathering-high pressure Gathering And Processing |
63.54 |
23.55 % |
| Compression Gathering And Processing |
63.89 |
23.67 % |
| Fresh water delivery Water Handling |
28.09 |
10.41 % |
| Other fluid handling Water Handling |
24.60 |
9.12 % |
| Antero |
287.14 |
106.4 % |
| Third party |
0.40 |
0.15 % |
| Gathering And Processing |
225.58 |
83.59 % |
| Gathering And Processing Antero |
234.85 |
87.02 % |
| Water Handling |
44.29 |
16.41 % |
| Water Handling Antero |
52.29 |
19.38 % |
| Water Handling Third party |
0.40 |
0.15 % |
| Total |
269.87 |
100 % |
Q3 three months ended (Sep 30 2024)
|
| Revenue Growth rates by Segment |
Y/Y Revenue
% |
Q/Q Revenue
% |
| Fixed fee Gathering And Processing |
3.46 % |
- |
| Fixed fee Water Handling |
-31.14 % |
- |
| Cost plus 3 Water Handling |
-16.78 % |
- |
| Cost of service fee Water Handling |
44.41 % |
- |
| Gathering-low pressure Gathering And Processing |
0.64 % |
- |
| Gathering-high pressure Gathering And Processing |
10.78 % |
- |
| Compression Gathering And Processing |
1.56 % |
- |
| Fresh water delivery Water Handling |
-31.47 % |
- |
| Other fluid handling Water Handling |
-3.63 % |
- |
| Antero |
2.14 % |
0.03 % |
| Third party |
3.66 % |
-4.11 % |
| Gathering And Processing |
9.65 % |
2.66 % |
| Gathering And Processing Antero |
9.24 % |
- |
| Water Handling |
-23.79 % |
-11.54 % |
| Water Handling Antero |
-20.92 % |
- |
| Water Handling Third party |
3.66 % |
- |
| Total |
- |
0.03 % |
Q3 three months ended (Sep 30 2024)
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| Income by Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Gathering And Processing |
165.01 |
73.15 % |
| Water Handling |
-1.11 |
- |
| Total |
99.74 |
36.96 % |
Q3 three months ended (Sep 30 2024)
|
| Income Growth rates by Segment |
Y/Y Income
% |
Q/Q Income
% |
| Gathering And Processing |
8.73 % |
- |
| Water Handling |
- |
- |
| Total |
- |
-34.71 % |
Annual Report on Antero Midstream Corporation Divisions, Sales by Country |
| |
| Fixed fee Gathering And Processing |
|
83.72 % |
of total Revenue |
| Fixed fee Water Handling |
|
13.65 % |
of total Revenue |
| Cost plus 3 Water Handling |
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6.25 % |
of total Revenue |
| Cost of service fee Water Handling |
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2.77 % |
of total Revenue |
| Gathering-low pressure Gathering And Processing |
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38.61 % |
of total Revenue |
| Gathering-high pressure Gathering And Processing |
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22.24 % |
of total Revenue |
| Compression Gathering And Processing |
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22.87 % |
of total Revenue |
| Fresh water delivery Water Handling |
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13.48 % |
of total Revenue |
| Other fluid handling Water Handling |
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9.2 % |
of total Revenue |
| Antero |
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106.21 % |
of total Revenue |
| Third party |
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0.18 % |
of total Revenue |
| Gathering And Processing |
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80.36 % |
of total Revenue |
| Gathering And Processing Antero |
|
83.72 % |
of total Revenue |
| Water Handling |
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19.64 % |
of total Revenue |
| Water Handling Antero |
|
22.5 % |
of total Revenue |
| Water Handling Third party |
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0.18 % |
of total Revenue |
Twelve months ended 2024
|
| AM s Annual Revenue by Geography and Business Segments |
Sales
(in millions $) |
%
(of total Sales) |
| Fixed fee Gathering And Processing |
926.06 |
83.72 % |
| Fixed fee Water Handling |
151.02 |
13.65 % |
| Cost plus 3 Water Handling |
69.10 |
6.25 % |
| Cost of service fee Water Handling |
30.69 |
2.77 % |
| Gathering-low pressure Gathering And Processing |
427.07 |
38.61 % |
| Gathering-high pressure Gathering And Processing |
246.01 |
22.24 % |
| Compression Gathering And Processing |
252.98 |
22.87 % |
| Fresh water delivery Water Handling |
149.07 |
13.48 % |
| Other fluid handling Water Handling |
101.73 |
9.2 % |
| Antero |
1,174.92 |
106.21 % |
| Third party |
1.94 |
0.18 % |
| Gathering And Processing |
888.98 |
80.36 % |
| Gathering And Processing Antero |
926.06 |
83.72 % |
| Water Handling |
217.22 |
19.64 % |
| Water Handling Antero |
248.86 |
22.5 % |
| Water Handling Third party |
1.94 |
0.18 % |
| Total |
1,106.19 |
100 % |
Twelve months ended 2024
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| AM s Annual Income by Country and Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Gathering And Processing |
636.85 |
71.64 % |
| Water Handling |
27.98 |
12.88 % |
| Total |
400.89 |
36.24 % |
Twelve months ended 2024
|
| Annual Revenue and Income Growth by Country and Business Segments |
% Y/Y Sales Growth |
% Y/Y Income Growth |
| Fixed fee Gathering And Processing |
3.6 % |
- |
| Fixed fee Water Handling |
-9.06 % |
- |
| Cost plus 3 Water Handling |
-14.83 % |
- |
| Cost of service fee Water Handling |
34.02 % |
- |
| Gathering-low pressure Gathering And Processing |
1.68 % |
- |
| Gathering-high pressure Gathering And Processing |
8.42 % |
- |
| Compression Gathering And Processing |
2.44 % |
- |
| Fresh water delivery Water Handling |
-9.46 % |
- |
| Other fluid handling Water Handling |
-3.52 % |
- |
| Antero |
5.75 % |
- |
| Third party |
37.48 % |
- |
| Gathering And Processing |
10.39 % |
10.88 % |
| Gathering And Processing Antero |
9.94 % |
- |
| Water Handling |
-8.15 % |
-34.76 % |
| Water Handling Antero |
-7.37 % |
- |
| Water Handling Third party |
37.48 % |
- |
| Gathering-low pressure fee reduction Gathering And Processing |
- |
- |
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