Antero Midstream Partners (AM) Sees 37.5M Common IPO Pricing at $19 - $21/Share

Antero Resources (NYSE: AR) announced the commencement of the Antero Midstream Partners LP (the "Partnership")(NYSE: AM) initial public offering of 37,500,000 common units representing limited partner interests in the Partnership, at an anticipated initial public offering price between $19.00 and $21.00 per common unit, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The Partnership expects to grant the underwriters a 30-day option to purchase up to an additional 5,625,000 common units. The Partnership has been approved to list its common units on the New York Stock Exchange under the symbol "AM," subject to official notice of issuance. The Partnership will initially own gathering and compression assets to service Antero's production.

The common units being offered represent an approximate 24.7% limited partner interest in the Partnership (or approximately 28.4% if the underwriters exercise in full their option to purchase additional common units). Antero and its affiliates will own the remaining approximately 75.3% limited partner interest in the Partnership (or approximately 71.6% if the underwriters exercise in full their option to purchase additional common units). Antero Midstream Management LLC, a wholly owned subsidiary of Antero's controlling stockholder, will serve as the general partner of the Partnership and will own the Partnership's incentive distribution rights.

Barclays and Citigroup will act as joint book-running managers and structuring agents for the offering. Wells Fargo Securities, Credit Suisse, J.P. Morgan and Morgan Stanley will also act as joint book-running managers.

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