Antero Resources Corp. pipeline unit Antero Midstream Partners LP and its general partner Antero Midstream GP LP closed their stock-and-cash simplification deal, according to a March 12 news release.
Antero Midstream's common unit holders and Antero Midstream GP's shareholders recently voted to approve the simplification deal, which would result in Antero Midstream GP changing its name to Antero Midstream Corp. The new entity would trade on the New York Stock Exchange under the ticker symbol AM, while Antero Midstream Partners units and Antero Midstream GP shares would cease to be traded.
As part of the deal, Antero Midstream GP would acquire all of Antero Midstream Partners' 188.1 million outstanding common units, including 98.9 million units held by Antero Resources. Antero Resources would also own roughly 31% of Antero Midstream Corp.
Antero Resources is an oil and gas exploration and production company with operations focused in the Appalachian Basin in West Virginia, Ohio and Pennsylvania.