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Antero Midstream boosts distribution as gathering, compression volumes surge

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Antero Midstream boosts distribution as gathering, compression volumes surge

AnteroMidstream Partners LP increased its cash distribution for thesecond quarter to 25 cents per unit, or $1 per unit annualized.

The distribution is 32% higher than in the year-ago quarter,and a 6% increase over the previous quarter, according to a July 14 newsrelease. It will be payable Aug. 24 to unit holders of record Aug. 10.

Following its $450 million , boostedits production growth target for 2017 to a range of 20% to 25%, which isexpected to support Antero Midstream's 2017 distribution growth target of 28%to 30%.

In addition, the partnership reported a 40% year-over-yearincrease in low-pressure gathering volumes, which averaged 1,353 MMcf/d in thesecond quarter. High-pressure gathering volumes averaged 1,253 MMcf/d,reflecting 5% growth year over year.

Compression volumes averaged 657 MMcf/d for the quarter, up45% from the year-ago quarter. Antero Midstream attributed the rise ingathering and compression volumes to production growth from the producer AnteroResources.

"Antero Midstream continues to reap the benefits ofhaving a full service midstream platform, benefitting from larger volumecompletion techniques enhancing water services, and improved well results andestimated recoveries benefitting gathering and compression throughput,"said Paul Rady, chairman and CEO of Antero Midstream.