Antero Midstream (AM) 10-Q 30 Jul 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 24, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-38075
Entity Registrant Name	ANTERO MIDSTREAM CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1748605
Entity Address, Address Line One	1615 Wynkoop Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	357-7310
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	AM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		476,597,058
Entity Central Index Key	0001623925
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 2,997	$ 1,235
Accounts receivable - Antero Resources	76,088	101,029
Accounts receivable - third party	3,392	4,574
Income tax receivable	17,547
Other current assets	645	1,720
Total current assets	100,669	108,558
Property and equipment, net	3,249,643	3,273,410
Investments in unconsolidated affiliates	729,823	709,639
Deferred tax asset	160,579	103,231
Customer relationships	1,462,908	1,498,119
Goodwill		575,461
Other assets, net	11,433	14,460
Total assets	5,715,055	6,282,878
Current liabilities:
Accounts payable - Antero Resources	2,714	3,146
Accounts payable - third party	19,822	6,645
Accrued liabilities	72,284	104,188
Contingent acquisition consideration		125,000
Other current liabilities	3,325	3,105
Total current liabilities	98,145	242,084
Long-term liabilities:
Long-term debt	3,088,785	2,892,249
Other	4,943	5,131
Total liabilities	3,191,873	3,139,464
Partners' capital and Stockholders' Equity:
Preferred stock
Common stock, $0.01 par value; 2,000,000 authorized; 484,042 and 476,486 issued and outstanding at December 31, 2019 and June 30, 2020, respectively	4,765	4,840
Additional paid-in capital	3,164,474	3,480,139
Accumulated loss	(646,057)	(341,565)
Total stockholders' equity	2,523,182	3,143,414
Total liabilities and stockholders' equity	5,715,055	6,282,878
Series A Preferred Stock
Partners' capital and Stockholders' Equity:
Preferred stock

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	2,000,000,000	2,000,000,000
Common stock, shares issued	476,486,000	484,042,000
Common stock, shares outstanding	476,486,000	484,042,000
Series A Preferred Stock
Preferred stock, authorized shares	12,000	12,000
Preferred stock, shares issued	10,000	10,000
Preferred stock, shares outstanding	10,000	10,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Amortization of customer relationships	$ (17,606)	$ (8,534)	$ (35,211)	$ (10,315)
Total revenue	219,736	255,618	463,444	309,726
Operating expenses:
Direct operating	42,067	63,998	90,795	78,980
General and administrative (including $21,543 and $2,697 of equity-based compensation in 2019 and 2020, respectively)	12,422	34,622	25,959	54,431
Facility idling	2,475		11,153
Impairment of goodwill			575,461
Impairment of property and equipment		594	89,083	594
Depreciation	27,745	36,447	55,088	44,097
Accretion and change in fair value of contingent acquisition consideration		2,297		3,346
Accretion of asset retirement obligations	61	69	103	79
Loss on asset sale	240		240
Total operating expenses	85,010	138,027	847,882	181,527
Operating income (loss)	134,726	117,591	(384,438)	128,199
Interest expense, net	(35,311)	(31,521)	(72,942)	(37,738)
Equity in earnings of unconsolidated affiliates	20,947	13,623	40,024	16,503
Income (loss) before income taxes	120,362	99,693	(417,356)	106,964
Provision for income tax benefit (expense)	(31,921)	(30,419)	112,864	(28,042)
Net income (loss) and comprehensive income (loss)	$ 88,441	$ 69,274	$ (304,492)	$ 78,922
Net income (loss) per share-basic and diluted			$ (0.63)	$ 0.21
Net income per share-basic (in dollars per share)	$ 0.19	$ 0.14	(0.63)	0.21
Net income (loss) per share-diluted (in dollars per share)	$ 0.18	$ 0.14	$ (0.63)	$ 0.21
Weighted average common shares outstanding:
Basic	476,836	506,816	479,969	381,045
Diluted	478,837	507,767	479,969	382,026
Natural Gas, Gathering, Transportation, Marketing and Processing - Affiliate
Revenue:
Revenue	$ 173,991	$ 168,925	$ 337,120	$ 202,459
Natural Gas Water Handling and Treatment - Affiliate
Revenue:
Revenue	$ 63,351	95,181	$ 161,535	117,532
Natural Gas Water Handling and Treatment
Revenue:
Revenue		$ (46)		$ 50

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statements of Operations and Comprehensive Income
Equity-based compensation	$ 2,697	$ 21,543	$ 6,035	$ 32,966

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Partners' Capital and Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Shareholders	Series B Unitholders	Common Stock	Additional Paid-in Capital	Accumulated Earnings	Total
Balance at Dec. 31, 2018	$ (41,969)	$ 72,830				$ 30,861
Partner' Capital and Stockholders' Equity
Distributions to unitholders	(30,543)	(3,720)				(34,263)
Net (loss) and comprehensive (loss) pre-acquisition	(13,549)					(13,549)
Equity-based compensation pre-acquisition	7,034					7,034
Exchange of common shares for shares of common stock and cash consideration paid	79,027	(69,110)	$ 5,066	$ 4,002,898		4,017,881
Exchange of common shares for shares of common stock and cash consideration paid (in shares)			506,641
Equity-based compensation				4,389		4,389
Net income and comprehensive income post-acquisition					$ 23,197	23,197
Balance at Mar. 31, 2019			$ 5,066	4,007,287	23,197	4,035,550
Balance (shares) at Mar. 31, 2019			506,641
Balance at Dec. 31, 2018	$ (41,969)	$ 72,830				30,861
Partner' Capital and Stockholders' Equity
Net income (loss) and comprehensive income (loss)						78,922
Balance at Jun. 30, 2019			$ 5,068	3,874,820	92,471	3,972,359
Balance (shares) at Jun. 30, 2019			506,847
Balance at Mar. 31, 2019			$ 5,066	4,007,287	23,197	4,035,550
Balance (shares) at Mar. 31, 2019			506,641
Partner' Capital and Stockholders' Equity
Dividends to stockholders				(152,180)		(152,180)
Equity-based compensation				21,543		21,543
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes			$ 2	(1,830)		(1,828)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)			206
Net income (loss) and comprehensive income (loss)					69,274	69,274
Balance at Jun. 30, 2019			$ 5,068	3,874,820	92,471	3,972,359
Balance (shares) at Jun. 30, 2019			506,847
Balance at Dec. 31, 2019			$ 4,840	3,480,139	(341,565)	$ 3,143,414
Balance (shares) at Dec. 31, 2019			484,042			484,042
Partner' Capital and Stockholders' Equity
Dividends to stockholders				(149,014)		$ (149,014)
Equity-based compensation				3,338		3,338
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes				(26)		(26)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)			43
Repurchases and retirement of common stock			$ (46)	(15,778)		(15,824)
Repurchases and retirement of common stock (in shares)			(4,700)
Net income (loss) and comprehensive income (loss)					(392,933)	(392,933)
Balance at Mar. 31, 2020			$ 4,794	3,318,659	(734,498)	2,588,955
Balance (shares) at Mar. 31, 2020			479,385
Balance at Dec. 31, 2019			$ 4,840	3,480,139	(341,565)	$ 3,143,414
Balance (shares) at Dec. 31, 2019			484,042			484,042
Partner' Capital and Stockholders' Equity
Net income (loss) and comprehensive income (loss)						$ (304,492)
Balance at Jun. 30, 2020			$ 4,765	3,164,474	(646,057)	$ 2,523,182
Balance (shares) at Jun. 30, 2020			476,486			476,486
Balance at Mar. 31, 2020			$ 4,794	3,318,659	(734,498)	$ 2,588,955
Balance (shares) at Mar. 31, 2020			479,385
Partner' Capital and Stockholders' Equity
Dividends to stockholders				(147,656)		(147,656)
Equity-based compensation				2,697		2,697
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes			$ 4	(370)		(366)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)			311
Repurchases and retirement of common stock			$ (33)	(8,856)		(8,889)
Repurchases and retirement of common stock (in shares)			(3,210)
Net income (loss) and comprehensive income (loss)					88,441	88,441
Balance at Jun. 30, 2020			$ 4,765	$ 3,164,474	$ (646,057)	$ 2,523,182
Balance (shares) at Jun. 30, 2020			476,486			476,486

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	2 Months Ended	3 Months Ended				6 Months Ended		10 Months Ended	12 Months Ended
	Mar. 12, 2019	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2019
Cash flows provided by (used in) operating activities:
Net income (loss)		$ 88,441	$ (392,933)	$ 69,274		$ (304,492)	$ 78,922
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Distributions received from Antero Midstream Partners LP, prior to the Transactions	$ 43,492						43,492
Depreciation						55,088	44,097
Payment of contingent consideration in excess of acquisition date fair value						(34,342)
Accretion and change in fair value of contingent acquisition consideration						103	3,425
Impairment						664,544	594
Deferred income tax benefit						(56,408)	28,042
Equity-based compensation			2,697		$ 21,543	6,035	32,966
Equity in earnings of unconsolidated affiliates		(20,947)		(13,623)		(40,024)	(16,503)	$ (51,315)
Distributions from unconsolidated affiliates						41,828	23,860	64,320
Amortization of customer relationships		17,606		8,534		35,211	10,315
Amortization of deferred financing costs						2,190	1,102
Settlement of asset retirement obligations						(601)
Loss on asset sale		240				240
Changes in assets and liabilities:
Accounts receivable-Antero Resources						24,941	38,414
Accounts receivable-third party						1,089	9
Income tax receivable						(17,547)
Other current assets						930	(1,867)
Accounts payable-Antero Resources						(432)	973
Accounts payable-third party						5,495	(4,629)
Income taxes payable							(15,370)
Accrued liabilities						(21,701)	(15,678)
Net cash provided by operating activities						362,147	252,164
Cash flows provided by (used in) investing activities:
Additions to gathering systems and facilities						(103,937)	(89,206)
Additions to water handling systems						(19,477)	(51,984)
Investments in unconsolidated affiliates						(21,988)	(103,409)
Cash received on acquisition of Antero Midstream Partners LP							619,532
Cash consideration paid to Antero Midstream Partners LP unitholders							(598,709)
Cash received in asset sale						123
Change in other assets						1,938	2,375
Net cash used in investing activities						(143,341)	(221,401)
Cash flows provided by (used in) financing activities:
Distributions to unitholders and dividends to stockholders						(296,395)	(182,625)
Distributions to Series B unitholders							(3,720)
Distributions to preferred shareholders						(275)	(98)
Repurchases of common stock						(24,713)
Issuance of senior notes							650,000
Payments of deferred financing costs							(6,952)
Borrowings (repayments) on bank credit facilities, net						195,500	(480,500)
Payment for contingent acquisition consideration						(90,658)
Employee tax withholding for settlement of equity compensation awards						(392)	(1,828)
Other						(111)	(71)
Net cash used in financing activities						(217,044)	(25,794)
Net increase in cash and cash equivalents						1,762	4,969
Cash and cash equivalents, beginning of period	$ 2,822		$ 1,235		$ 2,822	1,235	2,822		$ 2,822
Cash and cash equivalents, end of period		$ 2,997		$ 7,791		2,997	7,791	$ 1,235	$ 1,235
Supplemental disclosure of cash flow information:
Cash paid during the period for interest						74,665	31,147
Cash refund received (paid) during the period for income taxes						38,910	(16,001)
Increase (decrease) in accrued capital expenditures and accounts payable for property and equipment						$ (3,461)	$ 9,447

Organization

Organization	6 Months Ended
	Jun. 30, 2020
Organization
Organization	(1 ) Organization Antero Midstream Corporation was originally formed as Antero Resources Midstream Management LLC in 2013 to become the general partner of Antero Midstream Partners LP (“Antero Midstream Partners”). On May 4, 2017, Antero Resources Midstream Management LLC converted from a limited liability company to a limited partnership under the laws of the State of Delaware and changed its name to Antero Midstream GP LP (“AMGP”) in connection with its initial public offering. On March 12, 2019, pursuant to the Simplification Agreement, dated as of October 9, 2018, by and among AMGP, Antero Midstream Partners and certain of their affiliates (the “Simplification Agreement”), (i) AMGP was converted from a limited partnership to a corporation under the laws of the State of Delaware and changed its name to Antero Midstream Corporation (the “Conversion”), (ii) an indirect, wholly owned subsidiary of Antero Midstream Corporation was merged with and into Antero Midstream Partners, with Antero Midstream Partners surviving the merger as an indirect, wholly owned subsidiary of Antero Midstream Corporation (the “Merger”), and (iii) Antero Midstream Corporation exchanged (the “Series B Exchange” and, together with the Conversion, the Merger and the other transactions pursuant to by the Simplification Agreement, the “Transactions”) each issued and outstanding Series B Unit (the “Series B Units”) representing a membership interest in Antero IDR Holdings LLC (“IDR Holdings”) for 176.0041 shares of its common stock, par value $0.01 per share (“AM common stock”) . As a result of the Transactions, Antero Midstream Partners became and is now a wholly owned subsidiary of Antero Midstream Corporation and former shareholders of AMGP, unitholders of Antero Midstream Partners, including Antero Resources Corporation (“Antero Resources”), and holders of Series B Units became owners of AM common stock. We are a growth-oriented midstream company formed to own, operate and develop midstream energy infrastructure primarily to service Antero Resources and its production and completion activity in the Appalachian Basin’s Marcellus Shale and Utica Shale located in West Virginia and Ohio. Our assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling assets. The Company, through Antero Midstream Partners and its affiliates, provides midstream services to Antero Resources under long-term contracts. The Company’s corporate headquarters are located in Denver, Colorado. ​

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies (a) Basis of Presentation These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial information and should be read in the context of the Company’s December 31, 2019 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The Company’s December 31, 2019 consolidated financial statements were included in the Company’s 2019 Annual Report on Form 10-K, which was filed with the SEC. These unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, and, accordingly, do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly the Company’s financial position as of December 31, 2019 and June 30, 2020, the results of the Company’s operations for the three and six months ended June 30, 2019 and 2020, and its cash flows for the six months ended June 30, 2019 and 2020. The Company has no items of other comprehensive income (loss); therefore, net income (loss) is equal to comprehensive income (loss). Certain costs of doing business incurred and charged to the Company by Antero Resources have been reflected in the accompanying unaudited condensed consolidated financial statements. These costs include general and administrative expenses provided to the Company by Antero Resources in exchange for: ● business services, such as payroll, accounts payable and facilities management; ● corporate services, such as finance and accounting, legal, human resources, investor relations and public and regulatory policy; and ● employee compensation, including equity-based compensation. Transactions between the Company and Antero Resources have been identified in the unaudited condensed consolidated financial statements (see Note 6—Transactions with Affiliates). (b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include (i) for the period prior to March 13, 2019, the accounts of AMGP and its consolidated subsidiaries, which did not include Antero Midstream Partners and its subsidiaries, and (ii) for the period beginning on March 13, 2019, the accounts of Antero Midstream Corporation and its consolidated subsidiaries, including Antero Midstream Partners and its subsidiaries, which were acquired in the Transactions. See Note 3—Business Combination. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements. (c) Revenue Recognition The Company, through Antero Midstream Partners and its affiliates, provides gathering, compression and water handling services under fee-based contracts primarily based on throughput or at cost plus a margin. Certain of these contracts contain operating leases of the Company’s assets under GAAP. Under these arrangements, the Company receives fees for gathering, compression services and water handling services. The revenue the Company earns from these arrangements is directly related to (i) in the case of natural gas gathering and compression, the volumes of metered natural gas that it gathers, compresses and delivers to natural gas compression sites or other transmission delivery points, (ii) in the case of fresh water services, the quantities of fresh water delivered to its customers for use in their well completion operations, (iii) in the case of wastewater treatment services performed by the Company prior to idling of the Clearwater Facility (as defined below) in September 2019, the quantities of wastewater treated for its customers, (iv) in the case of wastewater services provided by third parties, the third-party costs the Company incurs plus or (v) in the case of flowback and produced water treatment performed by the Company, a cost of service fee based on the costs incurred by the Company. The Company recognizes revenue when it satisfies a performance obligation by delivering a service to a customer or the use of leased assets to a customer. The Company includes lease revenue within revenues by service. See Note 7—Revenue. (d) Use of Estimates The preparation of the unaudited condensed consolidated financial statements and notes in conformity with GAAP requires that management formulate estimates and assumptions that affect revenues, expenses, assets, liabilities and the disclosure of contingent liabilities. Items subject to estimates and assumptions include the useful lives of property and equipment, the valuation of assets and liabilities acquired from Antero Midstream Partners, as well as the valuation of accrued liabilities, among others. Although management believes these estimates are reasonable, actual results could differ from these estimates. (e) Cash and Cash Equivalents The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments. (f) Property and Equipment Property and equipment primarily consists of gathering pipelines, compressor stations and the wastewater treatment facility and related landfill (collectively, the “Clearwater Facility”) previously used for the disposal of salt therefrom, other flowback and produced water treatment facilities, and fresh water delivery pipelines and facilities stated at historical cost less accumulated depreciation, amortization and impairment. The Company capitalizes construction-related direct labor and material costs. Maintenance and repair costs are expensed as incurred. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives and salvage values of assets. The depreciation of fixed assets recorded under operating lease agreements is included in depreciation expense. Uncertainties that may impact these estimates of useful lives include, among others, changes in laws and regulations relating to environmental matters, including air and water quality, restoration and abandonment requirements, economic conditions, and supply and demand for the Company’s services in the areas in which it operates. When assets are placed into service, management makes estimates with respect to useful lives and salvage values that management believes are reasonable. Amortization of landfill airspace consists of the amortization of landfill capital costs, including those that have been incurred and capitalized and estimated future costs for landfill development and construction, and the amortization of asset retirement costs arising from landfill final capping, closure, and post-closure obligations. Amortization expense is recorded on a units-of-consumption basis, applying cost as a rate per-cubic yard. The rate per-cubic yard is calculated by dividing each component of the amortizable basis of the landfill by the number of cubic yards needed to fill the corresponding asset’s airspace. Landfill capital costs and closure and post-closure asset retirement costs are generally incurred to support the operation of the landfill over its entire operating life and are, therefore, amortized on a per-cubic yard basis using a landfill’s total airspace capacity. Estimates of disposal capacity and future development costs are created using input from independent engineers and internal technical teams and are reviewed at least annually. The Company evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying values of the assets may not be recoverable. Generally, the basis for making such assessments is undiscounted future cash flow projections for the assets being assessed. If the carrying values of the assets are deemed not recoverable, the carrying values are reduced to the estimated fair values, which are based on discounted future cash flows using assumptions as to revenues, costs, and discount rates typical of third-party market participants, which is a Level 3 fair value measurement. The Company recognized an impairment with respect to the freshwater delivery system during the six months ended June 30, 2020. (g) Asset Retirement Obligations The Company’s asset retirement obligations include its obligation to close, maintain, and monitor landfill cells and support facilities. After the entire landfill reaches capacity and is certified closed, the Company must continue to maintain and monitor the landfill for a post-closure period, which generally extends for . The Company records the fair value of its landfill retirement obligations as a liability in the period in which the regulatory obligation to retire a specific asset is triggered. For the Company’s individual landfill cells, the required closure and post-closure obligations under the terms of its permits and its intended operation of the landfill cell are triggered and recorded when the cell is placed into service and salt is initially disposed in the landfill cell. The fair value is based on the total estimated costs to close the landfill cell and perform post-closure activities once the landfill cell has reached capacity and is no longer accepting salt. Retirement obligations are increased each year to reflect the passage of time by accreting the balance at the weighted average credit-adjusted risk-free rate that is used to calculate the recorded liability, with accretion charged to direct costs. Actual cash expenditures to perform closure and post-closure activities reduce the retirement obligation liabilities as incurred. After initial measurement, asset retirement obligations are adjusted at the end of each period to reflect changes, if any, in the estimated future cash flows underlying the obligation. Landfill retirement assets are capitalized as the related retirement obligations are incurred, and are amortized on a units-of-consumption basis as the disposal capacity is consumed. Asset retirement obligations are recorded for fresh water impoundments and waste water pits when an abandonment date is identified. The Company records the fair value of its freshwater impoundment and waste water pit retirement obligations as liabilities in the period in which the regulatory obligation to retire a specific asset is triggered. The fair value is based on the total reclamation costs of the assets. Retirement obligations are increased each year to reflect the passage of time by accreting the balance at the weighted average credit-adjusted risk-free rate that is used to calculate the recorded liability, with accretion charged to direct costs. Actual cash expenditures to perform remediation activities reduce the retirement obligation liabilities as incurred. After initial measurement, asset retirement obligations are adjusted at the end of each period to reflect changes, if any, in the estimated future cash flows underlying the obligation. Fresh water impoundments and wastewater pit retirement assets are capitalized as the related retirement obligations are incurred, and are amortized on a straight-line basis until reclamation. The Company is under no legal obligations, neither contractually nor under the doctrine of promissory estoppel, to restore or dismantle its gathering pipelines, compressor stations, water delivery pipelines, flowback and produced water facilities and the Clearwater Facility upon abandonment. See Note 4—Clearwater Facility Idling. (h) Equity-Based Compensation The Company’s unaudited condensed consolidated financial statements include equity-based compensation costs related to awards granted by its own plans, as in place before and after the Transactions, as well as costs allocated by Antero Resources for grants made prior to the Transactions. Costs allocated from Antero Resources are offset to additional paid in capital on the unaudited condensed consolidated balance sheet. See Note 6—Transactions with Affiliates for additional information regarding Antero Resources’ allocation of expenses to the Company. For awards granted under its own plan, the Company recognizes compensation cost related to all equity-based awards in the financial statements based on the estimated grant date fair value. The Company is to grant various types of equity-based compensation awards, including stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, dividend equivalent awards and other types of awards. The grant date fair values of such awards are determined based on the type of award and may utilize market prices on the date of grant, Black-Scholes option-pricing model, Monte Carlo simulations or other acceptable valuation methodologies, as appropriate for the type of equity-based award. Compensation cost is recognized ratably over the applicable vesting or service period. Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. See Note 11—Equity-Based Compensation. (i) Income Taxes The Company recognizes deferred tax assets and liabilities for temporary differences resulting from net operating loss carryforwards for income tax purposes and the differences between the financial statement and tax basis of assets and liabilities. The effect of changes in tax laws or tax rates is recognized in income during the period such changes are enacted. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. The Company regularly reviews its tax positions in each significant taxing jurisdiction during the process of evaluating its tax provision. The Company makes adjustments to its tax provision when: (i) facts and circumstances regarding a tax position change, causing a change in management’s judgment regarding that tax position; and/or (ii) a tax position is effectively settled with a tax authority at a differing amount. In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted. The CARES Act allows corporations with net operating losses (“NOLs”) incurred in 2018, 2019, and 2020 to carry back such NOLs to each of the five years preceding the year of the NOLs, beginning with the earliest year in which there was taxable income, and claim an income tax refund in the applicable carryback years. As a result of this NOLs carryback provision in the CARES Act, the Company was able to recognize an income tax refund receivable in March 2020 of $55 million, including $11 million in current income tax benefit and $44 million of previously recognized deferred income tax benefit. As of June 30, 2020, the Company had received $39 million of this refund. (j) Fair Value Measures The Financial Accounting Standards Board (the “FASB”) ASC Topic 820, Fair Value Measurements and Disclosures the Company estimates would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to prioritize inputs to valuation techniques used to estimate fair value. An asset or liability subject to the fair value requirements is categorized within the hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The highest priority (Level 1) is given to unadjusted quoted market prices in active markets for identical assets or liabilities, and the lowest priority (Level 3) is given to unobservable inputs. Level 2 inputs are data, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. The carrying values on the unaudited condensed balance sheet of the Company’s cash and cash equivalents, accounts receivable—Antero Resources, accounts receivable—third party, other current assets, accounts payable—Antero Resources, accounts payable—third party, accrued liabilities and other current liabilities approximate fair values due to their short-term maturities. The assets and liabilities of Antero Midstream Partners were recorded at fair value as of the acquisition date, March 12, 2019 (see Note 3—Business Combination). Additionally, the Company uses certain fair valuation techniques in performing its goodwill impairment test described below and in determining the fair value of the freshwater delivery system, both of which were impaired in the first quarter of 2020. (k) Investments in Unconsolidated Affiliates The Company uses the equity method to account for its investments in companies if the investment provides the Company with the ability to exercise significant influence over, but not control of, the operating and financial policies of the investee. The Company’s unaudited condensed consolidated net income (loss) includes the Company’s proportionate share of the net income or loss of such companies. The Company’s judgment regarding the level of influence over each equity method investee includes considering key factors such as the Company’s ownership interest, representation on the board of directors and participation in policy-making decisions of the investee and material intercompany transactions. See Note 15—Investments in Unconsolidated Affiliates. (l) Business Combinations The Company recognizes and measures the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date, with any remaining difference recorded as goodwill. For acquisitions, management engages an independent valuation specialist, as applicable, to assist with the determination of fair value of the assets acquired, liabilities assumed, and goodwill, based on recognized business valuation methodologies. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition, and not later than one year from the acquisition date, the Company will record any material adjustments to the initial estimate based on new information obtained that would have existed as of the acquisition date. An adjustment that arises from information obtained that did not exist as of the date of the acquisition will be recorded in the period of the adjustment. Acquisition-related costs are expensed as incurred in connection with each business combination. See Note 3—Business Combination. (m) Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition of a business. Goodwill is not amortized, but rather is tested for impairment annually in the fourth quarter and when events or changes in circumstances indicate that the fair value of a reporting unit with goodwill has been reduced below its carrying value. The impairment test requires allocating goodwill and other assets and liabilities to reporting units. The fair value of each reporting unit is determined and compared to the carrying value of the reporting unit. The fair value is calculated using the expected present value of future cash flows method. Significant assumptions used in the cash flow forecasts include future net operating margins, future volumes, discount rates and future capital requirements. If the fair value of the reporting unit is less than the carrying value, including goodwill, the excess of the book value over the fair value of goodwill is charged to net income as an impairment expense. Amortization of intangible assets with definite lives is calculated using the straight-line method, which is reflective of the benefit pattern in which the estimated economic benefit is expected to be received over the estimated useful life of the intangible asset. Intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible asset may not be recoverable. If the sum of the expected undiscounted future cash flows related to the asset is less than the carrying amount of the asset, an impairment loss is recognized based on the fair value of the asset. See Note 4— and Note 5—Goodwill and Intangibles. (n ) Treasury Share Retirement The Company periodically retires treasury shares acquired through share repurchases and returns those shares to the status of authorized but unissued. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired first, to additional paid-in capital, and then, to accumulated earnings. The portion allocable to additional paid-in capital is determined by applying a percentage, determined by dividing the number of shares to be retired by the number of shares outstanding, to the balance of additional paid-in capital as of retirement .

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2020
Business Combination
Business Combination	(3) Business Combination On March 12, 2019, AMGP and Antero Midstream Partners completed the Transactions. The Transactions have been accounted for using the acquisition method of accounting with Antero Midstream Corporation identified as the acquirer of Antero Midstream Partners. The components of the fair value of consideration transferred are as follows (in thousands): ​ ​ ​ ​ ​ Fair value of shares of AM common stock issued (1) $ 4,017,881 ​ Cash ​ ​ 598,709 ​ Total fair value of consideration transferred ​ $ 4,616,590 ​ (1) The fair value of each share of AM common stock issued in connection with the Transactions was determined to be $12.54 , the closing price of AMGP common shares on March 12, 2019. ​ The final purchase price allocation of the Transactions are summarized in the table below. The fair value of assets acquired and liabilities assumed at March 12, 2019, were as follows (in thousands): ​ ​ ​ ​ ​ ​ Cash and cash equivalents $ 619,532 ​ Accounts receivable–Antero Resources ​ ​ 142,312 ​ Accounts receivable–third party ​ ​ 117 ​ Other current assets ​ ​ 1,150 ​ Property and equipment, net ​ ​ 3,371,427 ​ Investments in unconsolidated affiliates ​ ​ 568,285 ​ Customer relationships ​ ​ 1,567,000 ​ Other assets, net ​ ​ 42,887 ​ Total assets acquired ​ ​ 6,312,710 ​ ​ ​ ​ ​ ​ Accounts payable–Antero Resources ​ ​ 3,316 ​ Accounts payable–third party ​ ​ 30,674 ​ Accrued liabilities ​ ​ 87,021 ​ Other current liabilities ​ ​ 537 ​ Long-term debt ​ ​ 2,364,935 ​ Contingent acquisition consideration ​ ​ 116,924 ​ Other liabilities ​ ​ 8,524 ​ Total liabilities assumed ​ ​ 2,611,931 ​ Net assets acquired, excluding goodwill ​ ​ 3,700,779 ​ Goodwill ​ ​ 915,811 ​ Net assets acquired ​ $ 4,616,590 ​ ​ All customer relationships are subject to amortization, which is recognized over a weighted-average period of 23 years for the remaining economic life of the relationship. The purchase price allocation resulted in the recognition of $915 million of goodwill, including $575 million within the Company’s gathering and processing segment and $340 million of goodwill within its water handling segment. Substantially all of the goodwill is expected to be deductible for tax purposes. Goodwill represented the efficiencies realized with simplifying our corporate structure to own, operate and develop midstream energy infrastructure primarily to service Antero Resources. See Note 5—Goodwill and Intangibles. The Company’s unaudited condensed consolidated statement of operations for the six months ended June 30, 2019 include $6 million of acquisition-related costs associated with the Transactions. These costs were expensed as general and administrative costs.

Clearwater Facility Idling

Clearwater Facility Idling	6 Months Ended
	Jun. 30, 2020
Clearwater Facility Idling
Clearwater Facility Idling	(4) Clearwater Facility Idling On September 18, 2019, the Company commenced a strategic evaluation of the Clearwater Facility, at which time such facility was idled. The Company expects the facility to continue to be idled for the foreseeable future. Accordingly, the Company performed an impairment analysis of the facility and determined: (i) to reduce the carrying value of the facility to its estimated salvage value, which included the land associated with the Clearwater Facility; (ii) the fair value of the goodwill assigned to the wastewater treatment reporting unit was less than its carrying value, resulting in an impairment charge to goodwill; and (iii) the customer relationships intangible asset was impaired. The following table shows the impairment charges for the year ended December 31, 2019 related to the Clearwater Facility (in thousands): ​ ​ ​ ​ ​ Impairment of property and equipment $ 408,882 ​ Impairment of goodwill ​ ​ 42,290 ​ Impairment of customer relationships ​ ​ 11,871 ​ Total impairment expense ​ $ 463,043 ​ ​ The Company incurred $2.5 million and $11.2 million in facility idling costs for the care and maintenance of the Clearwater Facility during the three and six months ended June 30, 2020, respectively.

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangibles
Goodwill and Intangibles	(5) Goodwill and Intangibles The Company evaluates goodwill for impairment annually during the fourth quarter and whenever events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit with goodwill is less than its carrying amount. Significant assumptions used to estimate the reporting units’ fair value include the discount rate as well as estimates of future cash flows, which are impacted primarily by commodity prices and producer customers’ development plans (which impact volumes and capital requirements). During the third quarter of 2019, the Company incurred impairment charges to the goodwill and customer relationships intangible asset associated with the Clearwater Facility, which is in the water handling segment. See Note 4—Clearwater Facility Idling. During the fourth quarter of 2019, the Company incurred impairment charges of $298 million to its fresh water delivery and services reporting unit, which is in the water handling segment. This was primarily due to decreased water volumes driven by decreased drilling and increased use of water blending operations by Antero Resources. There was During the first quarter of 2020, the Company performed an interim impairment analysis of the goodwill due to changes in Antero Resources’ drilling plans as a result of the decline in commodity prices. As a result of this evaluation, the Company impaired all remaining goodwill of All customer relationships are subject to amortization and are amortized over a weighted-average period of 23 years , which reflects the remaining economic life of the relationships. The changes in the carrying amount of customer relationships for the six months ended June 30, 2020 were as follows (in thousands): ​ ​ ​ ​ ​ ​ Customer relationships as of December 31, 2019 $ 1,498,119 ​ Accumulated amortization ​ ​ (35,211) ​ Customer relationships as of June 30, 2020 ​ $ 1,462,908 ​ ​ Future amortization expense is as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2020 $ 35,463 ​ Year ending December 31, 2021 ​ ​ 70,672 ​ Year ending December 31, 2022 ​ ​ 70,672 ​ Year ending December 31, 2023 ​ ​ 70,672 ​ Year ending December 31, 2024 ​ ​ 70,672 ​ Year ending December 31, 2025 ​ ​ 70,672 ​ Thereafter ​ ​ 1,074,085 ​ Total ​ $ 1,462,908 ​ ​

Transactions with Affiliates

Transactions with Affiliates	6 Months Ended
	Jun. 30, 2020
Transactions with Affiliates
Transactions with Affiliates	(6) Transactions with Affiliates (a) Revenues Substantially all revenues earned in the three and six months ended June 30, 2019 and 2020 were earned from Antero Resources, under various agreements for gathering and compression and water handling services. Revenues earned from gathering and processing services consists of lease income. (b) Accounts receivable—Antero Resources and Accounts payable—Antero Resources Accounts receivable—Antero Resources represents amounts due from Antero Resources, primarily related to gathering and compression services and water handling services. Accounts payable—Antero Resources represents amounts due to Antero Resources for general and administrative and other costs. (c) Allocation of Costs Charged by Antero Resources The employees supporting the Company’s operations are concurrently employed by Antero Resources and the Company. Direct operating expense includes costs charged to the Company of $1.9 million and $1.5 million during the three months ended June 30, 2019 and 2020, respectively, and $2.3 million and $3.5 million during the six months ended June 30, 2019 and 2020, respectively. These costs were for services provided by employees associated with the operation of the Company’s gathering lines, compressor stations, and water handling assets. General and administrative expense includes costs charged to the Company by Antero Resources of $11.8 million and $6.4 million during the three months ended June 30, 2019 and 2020, respectively, and $13.9 million and $12.8 million during the six months ended June 30, 2019 and 2020, respectively. These costs relate to: (i) various business services, including payroll processing, accounts payable processing and facilities management, (ii) various corporate services, including legal, accounting, treasury, information technology and human resources and (iii) compensation, including certain equity-based compensation. These expenses are charged to the Company based on (i) the nature of the expenses and are apportioned based on a combination of the Company’s proportionate share of gross property and equipment, capital expenditures and labor costs, as applicable, and (ii) an annual management services fee. The Company reimburses Antero Resources directly for all general and administrative costs charged to it. See Note 11—Equity-Based Compensation. ​

Revenue

Revenue	6 Months Ended
	Jun. 30, 2020
Revenue
Revenue	(7) Revenue (a) Revenue from Contracts with Customers All of the Company’s revenues are derived from service contracts with customers and are recognized when the Company satisfies a performance obligation by delivering a service to a customer. The Company derives substantially all of its revenues from Antero Resources. The following sets forth the nature, timing of satisfaction of performance obligations, and significant payment terms of the Company’s contracts with Antero Resources. Gathering and Compression Agreement Pursuant to the gathering and compression agreement with Antero Resources, Antero Resources has dedicated substantially all of its current and future acreage in West Virginia, Ohio and Pennsylvania to the Company for gathering and compression services except for acreage subject to third-party commitments or pre-existing dedications. The Company also has an option to gather and compress natural gas produced by Antero Resources on any additional acreage it acquires In December 2019, the Company and Antero Resources agreed to extend the initial term of the gathering and compression agreement to 2038 and established a growth incentive fee program whereby low pressure gathering fees will be reduced from 2020 through 2023 to the extent Antero Resources achieves certain volumetric targets at certain points during such time. Antero Resources achieved the volumetric targets the first and second quarters of 2020. For the three and six months ended June 30, 2020, the Company provided Antero Resources $12 million and $24 million in rebates, respectively. Upon completion of the initial contract term, the gathering and compression agreement will continue in effect from year to year until such time as the agreement is terminated, effective upon an anniversary of the effective date of the agreement, by either the Company or Antero Resources on or before the th Under the gathering and compression agreement, the Company receives a low pressure gathering fee, a high pressure gathering fee and a compression fee, in each case subject to CPI-based adjustments. In addition, the agreement stipulates that the Company receives a reimbursement for the actual cost of electricity used at its compressor stations. The Company determined that the gathering and compression agreement is an operating lease as Antero Resources obtains substantially all of the economic benefit of the asset and has the right to direct the use of the asset. The gathering system is an identifiable asset within the gathering and compression agreement, and it consists of The gathering system is considered a single lease due to the interrelated network of the assets. The Company accounts for its lease and non-lease components as a single lease component as the lease component is the predominant component. The non-lease components consist of operating, oversight and maintenance of the gathering system, which are performed on time-elapsed measures. The Company recognizes revenue when low pressure volumes are delivered to a compressor station, compression volumes are delivered to a high pressure line and high pressure volumes are delivered to a processing plant or transmission pipeline. The Company invoices the customer the month after each service is performed, and payment is due in the same month. Water Services Agreement The Company is party to a water services agreement with Antero Resources, whereby the Company provides certain water handling services to Antero Resources within an area of dedication in defined service areas in West Virginia and Ohio. Upon completion of the initial term in 2035, the water services agreement will continue in effect from year to year until such time as the agreement is terminated, effective upon an anniversary of the effective date of the agreement, by either the Company or Antero Resources on or before the th day prior to the anniversary of such effective date. Under the agreement, the Company receives a fixed fee per barrel for fresh water deliveries by pipeline directly to the well site. Additionally, the Company receives a fixed fee per barrel for fresh water delivered by truck to high-rate transfer facilities. For flowback and produced water blending services, the Company receives a cost of service fee based on the costs incurred by the Company. Antero Resources also agreed to pay the Company a fixed fee per barrel for wastewater treatment at the Clearwater Facility, which was idled in the third quarter of 2019 and which the Company expects will remain idled for the foreseeable future. All such fees under the agreement are subject to annual CPI-based adjustments and additional fees based on certain costs. Under the water services agreement, the Company may also contract with third parties to provide water services to Antero Resources. Antero Resources reimburses the Company for third-party out-of-pocket costs plus a 3% markup. The Company satisfies its performance obligations and recognizes revenue when the fresh water volumes have been delivered to the hydration unit of a specified well pad, flowback and produced water blending services have been completed, or prior to the idling of the Clearwater Facility in September 2019, when the wastewater volumes were delivered to the Clearwater Facility . The Company invoices the customer the month after water services are performed, and payment is due in the same month. For services contracted through third-party providers, the Company’s performance obligation is satisfied when the service to be performed by the third-party provider has been completed. The Company invoices the customer after the third-party provider billing is received, and payment is due in the same month. Minimum Volume Commitments The gathering and compression agreement includes certain minimum volume commitment provisions. If and to the extent Antero Resources requests that the Company construct new high pressure lines and compressor stations, the gathering and compression agreement contains minimum volume commitments that gathering capacity and 70% of the compression capacity of such new construction for 10 years . The Company recognizes lease income from its minimum volume commitments under its gathering and compression agreement on a straight-line basis and additional operating lease income is earned when excess volumes are delivered under the contract. The Company is not party to any leases that have not commenced. Minimum volume commitments for fresh water deliveries under the water services agreement concluded at December 31, 2019. Minimum revenue amounts under the gathering and compression minimum volume commitments are as follows (in thousands): ​ ​ ​ ​ ​ Remainder of 2020 $ 80,262 ​ Year ending December 31, 2021 ​ ​ 235,901 ​ Year ending December 31, 2022 ​ ​ 235,901 ​ Year ending December 31, 2023 ​ ​ 235,901 ​ Year ending December 31, 2024 ​ ​ 236,547 ​ Year ending December 31, 2025 ​ ​ 222,858 ​ Thereafter ​ ​ 499,138 ​ Total ​ $ 1,746,508 ​ ​ (b) Disaggregation of Revenue In the following table, revenue is disaggregated by type of service and type of fee. The table also identifies the reportable segment to which the disaggregated revenues relate. For more information on reportable segments, see Note 16—Reporting Segments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ Segment to which ​ (in thousands) ​ 2019 ​ 2020 ​ 2019 ​ 2020 ​ revenues relate ​ Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of service ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering—low pressure ​ $ 78,807 ​ ​ 85,791 ​ ​ 94,634 ​ ​ 166,939 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (24,000) ​ Gathering and Processing (1) ​ Gathering—high pressure ​ ​ 47,749 ​ ​ 51,577 ​ ​ 57,032 ​ ​ 100,490 ​ Gathering and Processing (1) ​ Compression ​ ​ 42,369 ​ ​ 48,623 ​ ​ 50,793 ​ ​ 93,691 ​ Gathering and Processing (1) ​ Fresh water delivery ​ ​ 43,429 ​ ​ 36,900 ​ ​ 54,204 ​ ​ 102,718 ​ Water Handling ​ Wastewater treatment ​ ​ 12,011 ​ ​ — ​ ​ 14,441 ​ ​ — ​ Water Handling ​ Other fluid handling ​ ​ 39,787 ​ ​ 26,451 ​ ​ 48,937 ​ ​ 58,817 ​ Water Handling ​ Amortization of customer relationships (2) ​ ​ (2,402) ​ ​ (9,239) ​ ​ (2,903) ​ ​ (18,477) ​ Gathering and Processing ​ Amortization of customer relationships (2) ​ ​ (6,132) ​ ​ (8,367) ​ ​ (7,412) ​ ​ (16,734) ​ Water Handling ​ Total ​ $ 255,618 ​ ​ 219,736 ​ ​ 309,726 ​ ​ 463,444 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of contract ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit Fixed Fee ​ $ 168,925 ​ ​ 185,991 ​ ​ 202,459 ​ ​ 361,120 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (24,000) ​ Gathering and Processing (1) ​ Per Unit Fixed Fee ​ ​ 55,440 ​ ​ 36,900 ​ ​ 68,645 ​ ​ 102,718 ​ Water Handling ​ Cost plus 3% ​ ​ 39,787 ​ ​ 23,742 ​ ​ 48,937 ​ ​ 54,687 ​ Water Handling ​ Cost of service fee ​ ​ — ​ ​ 2,709 ​ ​ — ​ ​ 4,130 ​ Water Handling ​ Amortization of customer relationships (2) ​ ​ (2,402) ​ ​ (9,239) ​ ​ (2,903) ​ ​ (18,477) ​ Gathering and Processing ​ Amortization of customer relationships (2) ​ ​ (6,132) ​ ​ (8,367) ​ ​ (7,412) ​ ​ (16,734) ​ Water Handling ​ Total ​ $ 255,618 ​ ​ 219,736 ​ ​ 309,726 ​ ​ 463,444 ​ ​ ​ (1) Revenue related to the gathering and processing segment is classified as lease income related to the gathering system. (2) Fair value of customer contracts acquired as part of the Transactions discussed in Note 3—Business Combination. (c) Transaction Price Allocated to Remaining Performance Obligations The majority of the Company’s service contracts have a term greater than one year. As such, the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under the Company’s service contracts, each unit of product delivered to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. The remainder of the Company’s service contracts, which relate to contracts with third parties, are short-term in nature with a contract term of one year or less. Accordingly, the Company is not required to disclose the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of (d) Contract Balances Under the Company’s service contracts, the Company invoices customers after its performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s service contracts do not give rise to contract assets or liabilities. At December 31, 2019 and June 30, 2020, the Company’s receivables with customers were million, respectively.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2020
Property and Equipment
Property and Equipment	(8) Property and Equipment The Company’s investment in property and equipment for the periods presented is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ December 31, ​ June 30, ​ (in thousands) useful lives 2019 ​ 2020 ​ Land n/a $ 23,549 ​ 23,582 ​ Gathering systems and facilities ​ 40-50 years (1) ​ ​ 2,375,241 ​ ​ 2,577,408 ​ Permanent buried pipelines and equipment ​ 7-20 years ​ ​ 602,230 ​ ​ 537,173 ​ Surface pipelines and equipment ​ 1-7 years ​ ​ 48,594 ​ ​ 42,919 ​ Landfill ​ n/a (2) ​ ​ 1,244 ​ ​ 1,244 ​ Heavy trucks and equipment ​ 3-5 years ​ ​ 6,617 ​ ​ 5,919 ​ Above ground storage tanks ​ 5-10 years ​ ​ 3,418 ​ ​ 1,868 ​ Construction-in-progress ​ n/a ​ 300,165 ​ ​ 163,575 ​ Total property and equipment ​ ​ ​ ​ 3,361,058 ​ ​ 3,353,688 ​ Less accumulated depreciation ​ ​ ​ ​ (87,648) ​ ​ (104,045) ​ Property and equipment, net ​ ​ ​ $ 3,273,410 ​ ​ 3,249,643 ​ (1) Gathering systems and facilities are recognized as a single-leased asset with no residual value. (2) Amortization of landfill costs is recorded over the life of the landfill on a units-of-consumption basis. Due to the decline in commodity prices and industry environment, the Company evaluated its assets for impairment during the first quarter of 2020. As a result of this evaluation, the Company recorded an impairment expense of

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2020
Long-Term Debt.
Long-Term Debt	(9) Long-Term Debt The Company’s long-term debt as of December 31, 2019 and June 30, 2020 was as follows at: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ June 30, ​ (in thousands) ​ 2019 ​ 2020 ​ Credit Facility (a) $ 959,500 ​ 1,155,000 ​ 5.375% senior notes due 2024 (b) ​ ​ 652,600 ​ ​ 652,600 ​ 5.75% senior notes due 2027 (c) ​ ​ 653,250 ​ ​ 653,250 ​ 5.75% senior notes due 2028 (d) ​ ​ 650,000 ​ ​ 650,000 ​ Net unamortized debt issuance costs ​ ​ (23,101) ​ ​ (22,065) ​ Total long-term debt ​ $ 2,892,249 ​ ​ 3,088,785 ​ ​ (a) Antero Midstream Partners Revolving Credit Facility Antero Midstream Partners, an indirect, wholly owned subsidiary of Antero Midstream Corporation, as borrower (the “Borrower”), has a senior secured revolving credit facility (the “Credit Facility”) with a consortium of banks. Lender commitments under the Credit Facility are currently billion. At December 31, 2019, the Borrower had borrowings under the Credit Facility of %. At June 30, 2020, the Borrower had borrowings under the Credit Facility of %. 30, 2020. The maturity date of the facility is October 26, 2022. The Credit Facility includes fall away covenants and lower interest rates that are triggered if and when the Borrower is assigned an Investment Grade Rating (as defined in the Credit Facility). The Credit Facility contains certain covenants including restrictions on indebtedness, and requirements with respect to leverage and interest coverage ratios. The Credit Facility permits distributions to the holders of the Borrower’s equity interests in accordance with the cash distribution policy previously adopted by the board of directors of the general partner of the Borrower, provided that no event of default exists or would be caused thereby, and only to the extent permitted by our organizational documents. The Borrower was in compliance with all of the financial covenants under the Credit Facility as of December 31, 2019 and June 30, 2020. Principal amounts borrowed are payable on the maturity date with such borrowings bearing interest that is payable quarterly or, in the case of Eurodollar Rate Loans, at the end of the applicable interest period if shorter than six months. Interest is payable at a variable rate based on LIBOR or the base rate, determined by election at the time of borrowing, plus an applicable margin rate. Interest at the time of borrowing is determined with reference to the Borrower’s then-current leverage ratio subject to certain exceptions. Commitment fees on the unused portion of the Credit Facility are due quarterly at rates ranging from (b) 5.375% Senior Notes Due 2024 On September 13, 2016, Antero Midstream Partners and its wholly owned subsidiary, Finance Corp (together with Antero Midstream Partners, the “Issuers”), issued $650 million in aggregate principal amount of 5.375% senior notes due September 15, 2024 (the “2024 Notes”) at par. The 2024 Notes are unsecured and effectively subordinated to the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The 2024 Notes are fully and unconditionally guaranteed on a joint and several senior unsecured basis by Antero Midstream Corporation, Antero Midstream Partners’ wholly owned subsidiaries (other than Finance Corp) and certain of its future restricted subsidiaries. Interest on the 2024 Notes is payable on March 15 and September 15 of each year. Antero Midstream Partners may redeem all or part of the 2024 Notes at any time at redemption prices ranging from 104.031% as of June 30, 2020 to 100.00% on or after September 15, 2022. If Antero Midstream Partners undergoes a change of control followed by a rating decline, the holders of the 2024 Notes will have the right to require Antero Midstream Partners to repurchase all or a portion of the 2024 Notes at a price equal to 101% of the principal amount of the 2024 Notes, plus accrued and unpaid interest. (c) 5.75% Senior Notes Due 2027 On February 25, 2019, the Issuers issued $650 million in aggregate principal amount of 5.75% senior notes due March 1, 2027 (the “2027 Notes”) at par. The 2027 Notes are unsecured and effectively subordinated to the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The 2027 Notes are fully and unconditionally guaranteed on a joint and several senior unsecured basis by Antero Midstream Corporation, Antero Midstream Partners’ wholly owned subsidiaries (other than Finance Corp) and certain of its future restricted subsidiaries. Interest on the 2027 Notes is payable on March 1 and September 1 of each year. Antero Midstream Partners may redeem all or part of the 2027 Notes at any time on or after March 1, 2022 at redemption prices ranging from 102.875% on or after March 1, 2022 to 100.00% on or after March 1, 2025. In addition, prior to March 1, 2022, Antero Midstream Partners may redeem up to 35% of the aggregate principal amount of the 2027 Notes with an amount of cash not greater than the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 105.75% of the principal amount of the 2027 Notes, plus accrued and unpaid interest. At any time prior to March 1, 2022, Antero Midstream Partners may also redeem the 2027 Notes, in whole or in part, at a price equal to 100% of the principal amount of the 2027 Notes plus a “make-whole” premium and accrued and unpaid interest. If Antero Midstream Partners undergoes a change of control followed by a rating decline, the holders of the 2027 Notes will have the right to require Antero Midstream Partners to repurchase all or a portion of the 2027 Notes at a price equal to 101% of the principal amount of the 2027 Notes, plus accrued and unpaid interest. (d) 5.75% Senior Notes Due 2028 On June 28, 2019, the Issuers issued $650 million in aggregate principal amount of 5.75% senior notes due January 15, 2028 (the “2028 Notes”) at par. The 2028 Notes are unsecured and effectively subordinated to the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The 2028 Notes are fully and unconditionally guaranteed on a joint and several senior unsecured basis by Antero Midstream Corporation, Antero Midstream Partners’ wholly owned subsidiaries (other than Finance Corp) and certain of its future restricted subsidiaries. Interest on the 2028 Notes is payable on January 15 and July 15 of each year. Antero Midstream Partners may redeem all or part of the 2028 Notes at any time on or after January 15, 2023 at redemption prices ranging from 102.875% on or after January 15, 2023 to 100.00% on or after January 15, 2026. In addition, prior to January 15, 2023, Antero Midstream Partners may redeem up to 35% of the aggregate principal amount of the 2028 Notes with an amount of cash not greater than the net cash proceeds of certain equity offerings, if certain conditions are met, at a redemption price of 105.75% of the principal amount of the 2028 Notes, plus accrued and unpaid interest. At any time prior to January 15, 2023, Antero Midstream Partners may also redeem the 2028 Notes, in whole or in part, at a price equal to 100% of the principal amount of the 2028 Notes plus a “make-whole” premium and accrued and unpaid interest. If Antero Midstream Partners undergoes a change of control followed by a rating decline, the holders of the 2028 Notes will have the right to require Antero Midstream Partners to repurchase all or a portion of the 2028 Notes at a price equal to 101% of the principal amount of the 2028 Notes, plus accrued and unpaid interest. ​

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2020
Accrued Liabilities
Accrued Liabilities	(10) Accrued Liabilities Accrued liabilities as of December 31, 2019 and June 30, 2020 consisted of the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ June 30, ​ (in thousands) 2019 2020 Capital expenditures ​ $ 27,427 ​ ​ 16,284 ​ Operating expenses ​ ​ 24,980 ​ ​ 9,839 ​ Interest expense ​ ​ 44,440 ​ ​ 40,524 ​ Other ​ ​ 7,341 ​ ​ 5,637 ​ Total accrued liabilities ​ $ 104,188 ​ ​ 72,284 ​ ​

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2020
Equity-Based Compensation
Equity-Based Compensation	(11) Equity-Based Compensation The Company’s general and administrative expenses include equity-based compensation costs related to the Antero Midstream GP LP Long-Term Incentive Plan (“AMGP LTIP”) and the Series B Units prior to the Transactions. Equity-based compensation after the Transactions include (i) costs allocated to Antero Midstream Corporation by Antero Resources for grants made prior to the Transactions pursuant to the Antero Resources Corporation Long-Term Incentive Plan (the “AR LTIP”), (ii) costs related to the Antero Midstream Corporation Long-Term Incentive Plan (the “AM LTIP”) and (iii) the Exchanged B Units (as defined below). Antero Midstream Corporation’s portion of the equity-based compensation expense is included in general and administrative expenses, and recorded as a credit to the applicable classes of equity. Equity-based compensation expense allocated to Antero Midstream Corporation was 30, 2019. For the three and six months ended June 30, 2020, equity-based compensation allocated to Antero Midstream Corporation was million, respectively. For grants made prior to the Transactions, Antero Resources has total unamortized expense related to its various equity-based compensation plans that can be allocated to the Company of approximately 30, 2020, which includes grants made under the Antero Midstream Partners Long Term Incentive Plan (the “AMP LTIP”) prior to the Transactions, which were converted into awards under the AM LTIP. A portion of this will be allocated to Antero Midstream Partners as it is amortized over the remaining service period of the related awards. Antero Midstream Corporation does not reimburse Antero Resources for noncash equity compensation allocated to it for awards issued under the AR LTIP. Exchanged B Units Upon Closing of the Transactions, each Series B Unit, vested and unvested, was exchanged for 176.0041 shares of AM common stock (the “Series B Exchange”). A total of Series B Units then outstanding (the “Exchanged B Units”). The Company recognized 30, 2019. There were no forfeitures after the Series B Exchange was completed. AMGP LTIP The Company recognized expense of $0.2 million for the six months ended June 30, 2019. In connection with the Transactions, the AMGP LTIP was terminated on March 12, 2019. No expense was recognized for the three months ended June 30, 2019. AM LTIP The Company is authorized to grant up to 15,398,901 shares of AM common stock to employees and directors under the AM LTIP. The AM LTIP provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), dividend equivalents, other stock-based awards, cash awards and substitute awards. The terms and conditions of the awards granted are established by the compensation committee of the Board. As of June 30, 2020, a total of shares were available for future grant under the AM LTIP. For the three and six months ended June 30, 2020, the Company recognized expense of Restricted Stock Unit Awards A summary of the restricted stock unit awards activity during the six months ended June 30, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Aggregate ​ ​ ​ Number of ​ grant date ​ intrinsic value ​ ​ units fair value (in thousands) ​ Total AM LTIP RSUs awarded and unvested—December 31, 2019 ​ 1,275,990 ​ $ 14.38 ​ $ 9,685 ​ Granted ​ 985,269 ​ $ 7.23 ​ ​ ​ ​ Vested ​ (454,933) ​ $ 13.63 ​ ​ ​ ​ Forfeited ​ (47,367) ​ $ 14.43 ​ ​ ​ ​ Total AM LTIP RSUs awarded and unvested—June 30, 2020 ​ 1,758,959 ​ $ 10.45 ​ $ 8,971 ​ ​ Intrinsic values are based on the closing price of the Company’s common shares on the referenced dates. At June 30, 2020, unamortized expense of years and the Company’s proportionate share will be allocated to it as it is recognized. Performance Share Unit Awards Based on Return on Invested Capital For the three and six months ended June 30, 2020, the Company recognized $78 thousand and $156 thousand, respectively, of expense related to performance share unit awards based on return of invested capital. For each of the three and six months ended June 30, 2019 As of June 30, 2020, there was $0.6 million of unamortized equity-based compensation expense related to unvested PSUs that is expected to be recognized over a weighted average period of 1.8 years. Cash Awards In January 2020, the Company granted cash awards of $2.2 million to certain executives under the AM LTIP that vest ratably over a period of up to three years . As of June 30, 2020, the Company has accrued $0.8 million in Other liabilities in the unaudited condensed consolidated balance sheet.

Cash Distributions and Dividend

Cash Distributions and Dividends	6 Months Ended
	Jun. 30, 2020
Cash Distributions and Dividends
Cash Distributions and Dividends	(12) Cash Distributions and Dividends The following table details the amount of distributions and dividends paid with respect to the quarter indicated (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distributions/ ​ Quarter ​ ​ ​ ​ ​ Distributions/ ​ Dividends ​ and Year Record Date Distribution Date Dividends per share ​ Q4 2018 ​ February 1, 2019 ​ February 21, 2019 ​ $ 30,543 ​ $ 0.164 ​ Q1 2019 ​ April 26, 2019 ​ May 8, 2019 ​ ​ 152,082 ​ $ 0.3025 ​ Q1 2019 ​ May 15, 2019 ​ May 15, 2019 ​ ​ 98 ​ ​ * ​ Q2 2019 ​ July 26, 2019 ​ August 7, 2019 ​ ​ 154,146 ​ $ 0.3075 ​ Q2 2019 ​ August 14, 2019 ​ September 18, 2019 ​ ​ 138 ​ ​ * ​ Q3 2019 ​ November 1, 2019 ​ November 13, 2019 ​ ​ 153,033 ​ $ 0.3075 ​ Q3 2019 ​ November 14, 2019 ​ November 14, 2019 ​ ​ 138 ​ ​ * ​ ** ​ December 31, 2019 ​ December 31, 2019 ​ ​ 2,299 ​ ​ ** ​ ​ ​ Total 2019 ​ ​ ​ $ 492,477 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Q4 2019 ​ January 31, 2020 ​ February 12, 2020 ​ $ 148,876 ​ $ 0.3075 ​ * ​ February 14, 2020 ​ February 14, 2020 ​ ​ 138 ​ ​ * ​ Q1 2020 ​ April 30, 2020 ​ May 12, 2020 ​ ​ 147,519 ​ $ 0.3075 ​ * ​ May 15, 2020 ​ May 15, 2020 ​ ​ 137 ​ ​ * ​ ​ ​ Total 2020 ​ ​ ​ $ 296,670 ​ ​ ​ ​ * Dividends are paid in accordance with the terms of the Series A Preferred Stock as discussed in Note 13—Equity and Earnings Per Common Share. ** D istributions declared on unvested Series B Units prior to the closing date of the Transactions that were paid upon the vesting date to the holders of the Exchanged B Units. On July 15, 2020, the Board announced the declaration of a cash dividend on the shares of AM common stock of $0.3075 per share for the quarter ended June 30, 2020. The dividend will be payable on August 12, 2020 to stockholders of record as of July 30, 2020. The Board also declared a cash dividend of $138 thousand on the shares of Series A Preferred Stock of Antero Midstream Corporation to be paid on August 14, 2020 in accordance with the terms of the Series A Preferred Stock, which are discussed in Note 13—Equity and Earnings Per Common Share. As of June 30, 2020, there were dividends in the amount of thousand accumulated in arrears on the Company’s Series A Preferred Stock.

Equity and Earnings Per Common

Equity and Earnings Per Common Share	6 Months Ended
	Jun. 30, 2020
Equity and Earnings Per Common Share
Equity and Earnings Per Common Share	(13) Equity and Earnings Per Common Share (a) Preferred Stock The Board authorized 100,000,000 shares of preferred stock in connection with the closing of the Transactions (see Note 3—Business Combination) on March 12, 2019, and issued 10,000 shares of preferred stock designated as "5.5% Series A Non-Voting Perpetual Preferred Stock" (the "Series A Preferred Stock"), to The Antero Foundation on that date. Dividends on the Series A Preferred Stock are cumulative from the date of original issue and payable in cash on the 45 th on (i) the liquidation preference per share of Series A Preferred Stock (as described below) and (ii) the amount of accrued and unpaid dividends for any prior dividend period on such share of Series A Preferred Stock, if any . At any time following the date of issue, in the event of a change of control, or at any time on or after March 12, 2029, the Company may redeem the Series A Preferred Stock at a price equal to per share, plus any accrued but unpaid dividends, and (ii) the fair market value of the Series A Preferred Stock. On or after March 12, 2029, the holder of each share of Series A Preferred Stock (other than The Antero Foundation) may convert such shares, at any time and from time to time, at the option of the holder into a number of shares of AM common stock equal to the conversion ratio in effect on the applicable conversion date, subject to certain limitations. The Series A Preferred Stock ranks senior to the AM common stock as to dividend rights, as well as with respect to rights upon liquidation, winding-up or dissolution of the Company. Holders of the Series A Preferred Stock do not have any voting rights in the Company, except as required by law, or any preemptive rights. (b) Weighted Average Shares Outstanding The following is a reconciliation of the Company’s basic weighted average shares outstanding to diluted weighted average shares outstanding during the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ (in thousands) 2019 2020 2019 2020 ​ Basic weighted average number of shares outstanding ​ ​ 506,816 ​ ​ 476,836 ​ ​ 381,045 ​ ​ 479,969 ​ Add: Dilutive effect of restricted stock units ​ ​ 78 ​ ​ 40 ​ ​ 108 ​ ​ — ​ Add: Dilutive effect of Series A preferred stock ​ ​ 873 ​ ​ 1,961 ​ ​ 873 ​ ​ — ​ Diluted weighted average number of shares outstanding ​ ​ 507,767 ​ ​ 478,837 ​ ​ 382,026 ​ ​ 479,969 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted stock units ​ ​ — ​ ​ — ​ ​ — ​ ​ 77 ​ Preferred shares ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,961 ​ (1) The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common shares—assuming dilution because the inclusion of these awards would have been anti-dilutive. (c) Earnings Per Common Share Earnings per common share—basic for each period is computed by dividing net income (loss) attributable to Antero Midstream Corporation by the basic weighted average number of shares of AM common stock outstanding during the period. Earnings per common share—assuming dilution for each period is computed after giving consideration to the potential dilution from outstanding equity awards, calculated using the treasury stock method. During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards is anti-dilutive. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ (in thousands, except per share amounts) 2019 2020 2019 2020 ​ Net income (loss) ​ $ 69,274 ​ ​ 88,441 ​ ​ 78,922 ​ ​ (304,492) ​ Less preferred stock dividends ​ ​ (139) ​ ​ (137) ​ ​ (168) ​ ​ (275) ​ Net income (loss) available to common shareholders ​ $ 69,135 ​ ​ 88,304 ​ ​ 78,754 ​ ​ (304,767) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) per share–basic ​ $ 0.14 ​ ​ 0.19 ​ ​ 0.21 ​ ​ (0.63) ​ Net income (loss) per share–diluted ​ $ 0.14 ​ ​ 0.18 ​ ​ 0.21 ​ ​ (0.63) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding–basic ​ ​ 506,816 ​ ​ 476,836 ​ ​ 381,045 ​ ​ 479,969 ​ Weighted average common shares outstanding–diluted ​ ​ 507,767 ​ ​ 478,837 ​ ​ 382,026 ​ ​ 479,969 ​ ​

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2020
Fair Value Measurement
Fair Value Measurement	(14) Fair Value Measurement Business Combination As the Transactions were accounted for under the acquisition method of accounting, the Company estimated the fair value of assets acquired and liabilities assumed at March 12, 2019. See Note 3—Business Combination. In connection with the Transactions, the Company, among other things, issued shares of common stock valued at the closing market price of the common shares at the effective time of the Transactions, which was a Level 1 measurement. The Company used the discounted cash flow approach, which is an income statement technique, to estimate the fair value of the customer relationships and investments in unconsolidated affiliates using a weighted-average cost of capital of 14.1% as of March 12, 2019, which is based on significant inputs not observable in the market, and thus represents a Level 3 measurement within the fair value hierarchy. The Company also used this approach in combination with the cost approach to estimate the fair value of property and equipment whereby certain property and equipment was adjusted for recent purchases of similar items, economic and functional obsolescence, location, normal useful lives, and capacity (if applicable). To estimate the fair value of the long-term debt, the Company used Level 2 market data inputs. Goodwill The Company estimated the fair value of its assets in performing its goodwill analysis in the first quarter of 2020. The Company utilized a combination of approaches to discounted cash flow approach, comparable company method and the market value approach. The Company used a weighted-average cost of capital of Property and equipment The Company estimated the undiscounted future cash flow projections to assess its property and equipment for impairment. The carrying values of certain freshwater permanent buried pipelines and equipment and fresh water surface pipelines and equipment were deemed not recoverable. As a result, the carrying values have been reduced to the estimated fair values, which are based on discounted future cash flows using assumptions as to revenues, costs, and a discount rate typical of third-party market participants of Contingent Acquisition Consideration In connection with Antero Resources’ contribution of Antero Water and certain water handling assets to Antero Midstream Partners in September 2015 (the “Water Acquisition”), Antero Midstream Partners agreed to pay Antero Resources (a) $125 million in cash if Antero Midstream Partners delivered 176,295,000 barrels or more of fresh water during the period between January 1, 2017 and December 31, 2019 and (b) an additional $125 million in cash if Antero Midstream Partners delivers 219,200,000 barrels or more of fresh water during the period between January 1, 2018 and December 31, 2020. This contingent consideration liability is valued based on Level 3 inputs related to expected average volumes and weighted average cost of capital. In January 2020, Antero Midstream Partners paid Antero Resources $125 million and, as of June 30, 2020, no additional contingent acquisition consideration is expected to be earned. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement within the fair value hierarchy. Senior Unsecured Notes As of June 30, 2020 the fair value of the Company’s 2024 Notes, 2027 Notes and 2028 Notes was approximately $553 million, $520 million and $517 million, respectively, based on Level 2 market data inputs. Other Assets and Liabilities The carrying values of accounts receivable and accounts payable at December 31, 2019 and June 30, 2020 approximated fair value because of their short-term nature. The carrying value of the amounts under the Credit Facility at December 31, 2019 and June 30, 2020 approximated fair value because the variable interest rates are reflective of current market conditions.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2020
Investments in Unconsolidated Affiliates
Investments in Unconsolidated Affiliates	(15) Investments in Unconsolidated Affiliates Investment in Antero Midstream Partners Prior to the closing of the Transactions, AMGP did not consolidate Antero Midstream Partners, and AMGP’s share of Antero Midstream Partners’ earnings as a result of AMGP’s ownership of the IDRs was accounted for using the equity method of accounting. AMGP recognized distributions earned from Antero Midstream Partners as “Equity in earnings of unconsolidated affiliates” on its statement of operations in the period in which they were earned and were allocated to AMGP’s capital account. AMGP’s long-term interest in the IDRs on the balance sheet was recorded in “Investment in unconsolidated affiliates.” The ownership of the general partner interests and IDRs did not provide AMGP with any claim to the assets of AMGP other than the balance in its Antero Midstream Partners capital account. Income related to the IDRs was recognized as earned and increased AMGP’s capital account and equity investment. When these distributions were paid to AMGP, they reduced its capital account and its equity investment in Antero Midstream Partners. As a result of the Transactions, Antero Midstream Corporation assumed financial control of Antero Midstream Partners and Antero Midstream Partners is now consolidated (see Note 3—Business Combination). Investment in Stonewall and MarkWest Joint Venture The Company has a 15% equity interest in a gathering system of Stonewall Gas Gathering LLC (“Stonewall”), which operates a 67-mile pipeline on which Antero Resources is an anchor shipper. The Company has a 50% equity interest in the joint venture (the “Joint Venture”) to develop processing and fractionation assets with MarkWest Energy Partners, L.P. (“MarkWest”), a wholly owned subsidiary of MPLX, LP. The Joint Venture was formed to develop processing and fractionation assets in Appalachia. MarkWest operates the Joint Venture assets, which consist of processing plants in West Virginia and a one The Company’s net income (loss) includes its proportionate share of the net income of the Joint Venture and Stonewall. When the Company records its proportionate share of net income, it increases equity income in the unaudited condensed consolidated statements of operations and comprehensive income and the carrying value of that investment on its balance sheet. When distributions on the Company’s proportionate share of net income are received, they are recorded as reductions to the carrying value of the investment on the balance sheet and are classified as cash inflows from operating activities in accordance with the nature of the distribution approach under ASC 230. The Company uses the equity method of accounting to account for its investments in Stonewall and the Joint Venture because it exercises significant influence, but not control, over the entities. The Company’s judgment regarding the level of influence over its equity investments includes considering key factors such as its ownership interest, representation on the applicable board of directors and participation in policy-making decisions of Stonewall and the Joint Venture. The following table is a reconciliation of the Company’s investments in these unconsolidated affiliates: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Antero ​ ​ ​ ​ ​ Total Investment ​ ​ ​ Midstream ​ ​ ​ MarkWest ​ in Unconsolidated ​ (in thousands) Partners LP Stonewall ​ Joint Venture Affiliates ​ Balance at December 31, 2018 ​ $ 43,492 ​ ​ — ​ ​ — ​ ​ 43,492 ​ Distributions from unconsolidated affiliates ​ ​ (43,492) ​ ​ — ​ ​ — ​ ​ (43,492) ​ Balance at March 12, 2019 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Investments in unconsolidated affiliates acquired from Antero Midstream Partners ​ ​ — ​ ​ 142,071 ​ ​ 426,214 ​ ​ 568,285 ​ Additional Investments ​ ​ — ​ ​ — ​ ​ 154,359 ​ ​ 154,359 ​ Equity in net income of unconsolidated affiliates (1) ​ ​ — ​ ​ 4,117 ​ ​ 47,198 ​ ​ 51,315 ​ Distributions from unconsolidated affiliates ​ ​ — ​ ​ (5,730) ​ ​ (58,590) ​ ​ (64,320) ​ Balance at December 31, 2019 ​ ​ — ​ ​ 140,458 ​ ​ 569,181 ​ ​ 709,639 ​ Additional investments ​ ​ — ​ ​ — ​ ​ 21,988 ​ ​ 21,988 ​ Equity in net income of unconsolidated affiliates (1) ​ ​ — ​ ​ 3,160 ​ ​ 36,864 ​ ​ 40,024 ​ Distributions from unconsolidated affiliates ​ ​ — ​ ​ (4,485) ​ ​ (37,343) ​ ​ (41,828) ​ Balance at June 30, 2020 ​ $ — ​ ​ 139,133 ​ ​ 590,690 ​ ​ 729,823 ​ (1) As adjusted for the amortization of the difference between the cost of the equity investments in Stonewall and the Joint Venture and the amount of the underlying equity in the net assets of Stonewall and the Joint Venture as of the date of the Transactions.

Reporting Segments

Reporting Segments	6 Months Ended
	Jun. 30, 2020
Reporting Segments
Reporting Segments	(16) Reporting Segments Prior to the closing of the Transactions, AMGP had no reporting segment results. Following the completion of the Transactions, the Company’s operations, which are located in the United States, are organized into Gathering and Processing The gathering and processing segment includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources’ wells in West Virginia and Ohio. The gathering and processing segment also includes equity in earnings from the Company’s investments in the Joint Venture and Stonewall. Water Handling The Company’s water handling segment includes two independent systems that deliver fresh water from sources including the Ohio River, local reservoirs and several regional waterways. The water handling segment also includes the Clearwater Facility that was placed in service in 2018 and idled in September 2019 (See Note 4—Clearwater Facility Idling), as well as other fluid handling services, which includes high rate transfer, wastewater transportation, disposal and treatment. See Note 8—Property and Equipment. These segments are monitored separately by management for performance and are consistent with internal financial reporting. These segments have been identified based on the differing products and services, regulatory environment and the expertise required for these operations. Management evaluates the performance of the Company’s business segments based on operating income. Interest expense is primarily managed and evaluated on a consolidated basis. The summarized operating results and assets of the Company’s reportable segments were as follows for the three and six months ended June 30, 2019 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Three months ended June 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 168,925 ​ ​ 95,181 ​ ​ — ​ ​ 264,106 ​ Revenue–third-party ​ ​ — ​ ​ 46 ​ ​ — ​ ​ 46 ​ Amortization of customer contracts ​ ​ (2,402) ​ ​ (6,132) ​ ​ — ​ ​ (8,534) ​ Total revenues ​ ​ 166,523 ​ ​ 89,095 ​ ​ — ​ ​ 255,618 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 12,377 ​ ​ 51,621 ​ ​ — ​ ​ 63,998 ​ General and administrative (excluding equity-based compensation) ​ ​ 7,335 ​ ​ 3,958 ​ ​ 1,786 ​ ​ 13,079 ​ Equity-based compensation ​ ​ 2,286 ​ ​ 926 ​ ​ 18,331 ​ ​ 21,543 ​ Impairment of property and equipment ​ ​ 592 ​ ​ 2 ​ ​ — ​ ​ 594 ​ Depreciation ​ ​ 12,721 ​ ​ 23,726 ​ ​ — ​ ​ 36,447 ​ Accretion and change in fair value of contingent acquisition consideration ​ ​ — ​ ​ 2,297 ​ ​ — ​ ​ 2,297 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 69 ​ ​ — ​ ​ 69 ​ Total expenses ​ ​ 35,311 ​ ​ 82,599 ​ ​ 20,117 ​ ​ 138,027 ​ Operating income ​ $ 131,212 ​ ​ 6,496 ​ ​ (20,117) ​ ​ 117,591 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 13,623 ​ ​ — ​ ​ — ​ ​ 13,623 ​ Total assets ​ $ 4,916,854 ​ ​ 1,844,385 ​ ​ 7,770 ​ ​ 6,769,009 ​ Additions to property and equipment ​ $ 81,529 ​ ​ 43,656 ​ ​ — ​ ​ 125,185 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Three months ended June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 173,991 ​ ​ 63,351 ​ ​ — ​ ​ 237,342 ​ Amortization of customer relationships ​ ​ (9,239) ​ ​ (8,367) ​ ​ — ​ ​ (17,606) ​ Total revenues ​ ​ 164,752 ​ ​ 54,984 ​ ​ — ​ ​ 219,736 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 14,059 ​ ​ 28,008 ​ ​ — ​ ​ 42,067 ​ General and administrative (excluding equity-based compensation) ​ ​ 5,440 ​ ​ 2,694 ​ ​ 1,591 ​ ​ 9,725 ​ Facility idling ​ ​ — ​ ​ 2,475 ​ ​ — ​ ​ 2,475 ​ Equity-based compensation ​ ​ 2,266 ​ ​ 431 ​ ​ — ​ ​ 2,697 ​ Depreciation ​ ​ 14,406 ​ ​ 13,339 ​ ​ — ​ ​ 27,745 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 61 ​ ​ — ​ ​ 61 ​ Loss on asset sale ​ ​ — ​ ​ 240 ​ ​ — ​ ​ 240 ​ Total expenses ​ ​ 36,171 ​ ​ 47,248 ​ ​ 1,591 ​ ​ 85,010 ​ Operating income ​ $ 128,581 ​ ​ 7,736 ​ ​ (1,591) ​ ​ 134,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 20,947 ​ ​ — ​ ​ — ​ ​ 20,947 ​ Total assets ​ $ 4,387,102 ​ ​ 1,149,355 ​ ​ 178,598 ​ ​ 5,715,055 ​ Additions to property and equipment ​ $ 49,278 ​ ​ 6,153 ​ ​ — ​ ​ 55,431 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Six months ended June 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 202,459 ​ ​ 117,532 ​ ​ — ​ ​ 319,991 ​ Revenue–third-party ​ ​ — ​ ​ 50 ​ ​ — ​ ​ 50 ​ Amortization of customer relationships ​ ​ (2,903) ​ ​ (7,412) ​ ​ — ​ ​ (10,315) ​ Total revenues ​ ​ 199,556 ​ ​ 110,170 ​ ​ — ​ ​ 309,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 15,312 ​ ​ 63,668 ​ ​ — ​ ​ 78,980 ​ General and administrative (excluding equity-based compensation) ​ ​ 8,355 ​ ​ 4,532 ​ ​ 8,578 ​ ​ 21,465 ​ Equity-based compensation ​ ​ 2,663 ​ ​ 1,139 ​ ​ 29,164 ​ ​ 32,966 ​ Impairment of property and equipment ​ ​ 592 ​ ​ 2 ​ ​ — ​ ​ 594 ​ Depreciation ​ ​ 15,281 ​ ​ 28,816 ​ ​ — ​ ​ 44,097 ​ Accretion and change in fair value of contingent acquisition consideration ​ ​ — ​ ​ 3,346 ​ ​ — ​ ​ 3,346 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 79 ​ ​ — ​ ​ 79 ​ Total operating expenses ​ ​ 42,203 ​ ​ 101,582 ​ ​ 37,742 ​ ​ 181,527 ​ Operating income ​ $ 157,353 ​ ​ 8,588 ​ ​ (37,742) ​ ​ 128,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 16,503 ​ ​ — ​ ​ — ​ ​ 16,503 ​ Total assets ​ $ 4,916,854 ​ ​ 1,844,385 ​ ​ 7,770 ​ ​ 6,769,009 ​ Additions to property and equipment ​ $ 89,206 ​ ​ 51,984 ​ ​ — ​ ​ 141,190 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Six months ended June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 337,120 ​ ​ 161,535 ​ ​ — ​ ​ 498,655 ​ Amortization of customer relationships ​ ​ (18,477) ​ ​ (16,734) ​ ​ — ​ ​ (35,211) ​ Total revenues ​ ​ 318,643 ​ ​ 144,801 ​ ​ — ​ ​ 463,444 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 27,450 ​ ​ 63,345 ​ ​ — ​ ​ 90,795 ​ General and administrative (excluding equity-based compensation) ​ ​ 10,484 ​ ​ 5,599 ​ ​ 3,841 ​ ​ 19,924 ​ Facility idling ​ ​ — ​ ​ 11,153 ​ ​ — ​ ​ 11,153 ​ Impairment of goodwill ​ ​ 575,461 ​ ​ — ​ ​ — ​ ​ 575,461 ​ Impairment of property and equipment ​ ​ — ​ ​ 89,083 ​ ​ — ​ ​ 89,083 ​ Equity-based compensation ​ ​ 4,799 ​ ​ 986 ​ ​ 250 ​ ​ 6,035 ​ Depreciation ​ ​ 27,456 ​ ​ 27,632 ​ ​ — ​ ​ 55,088 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 103 ​ ​ — ​ ​ 103 ​ Loss on asset sale ​ ​ — ​ ​ 240 ​ ​ — ​ ​ 240 ​ Total operating expenses ​ ​ 645,650 ​ ​ 198,141 ​ ​ 4,091 ​ ​ 847,882 ​ Operating loss ​ $ (327,007) ​ ​ (53,340) ​ ​ (4,091) ​ ​ (384,438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 40,024 ​ ​ — ​ ​ — ​ ​ 40,024 ​ Total assets ​ $ 4,387,102 ​ ​ 1,149,355 ​ ​ 178,598 ​ ​ 5,715,055 ​ Additions to property and equipment, net ​ $ 103,937 ​ ​ 19,477 ​ ​ — ​ ​ 123,414 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Basis of Presentation	(a) Basis of Presentation These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim financial information and should be read in the context of the Company’s December 31, 2019 consolidated financial statements and notes thereto for a more complete understanding of the Company’s operations, financial position, and accounting policies. The Company’s December 31, 2019 consolidated financial statements were included in the Company’s 2019 Annual Report on Form 10-K, which was filed with the SEC. These unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, and, accordingly, do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly the Company’s financial position as of December 31, 2019 and June 30, 2020, the results of the Company’s operations for the three and six months ended June 30, 2019 and 2020, and its cash flows for the six months ended June 30, 2019 and 2020. The Company has no items of other comprehensive income (loss); therefore, net income (loss) is equal to comprehensive income (loss). Certain costs of doing business incurred and charged to the Company by Antero Resources have been reflected in the accompanying unaudited condensed consolidated financial statements. These costs include general and administrative expenses provided to the Company by Antero Resources in exchange for: ● business services, such as payroll, accounts payable and facilities management; ● corporate services, such as finance and accounting, legal, human resources, investor relations and public and regulatory policy; and ● employee compensation, including equity-based compensation. Transactions between the Company and Antero Resources have been identified in the unaudited condensed consolidated financial statements (see Note 6—Transactions with Affiliates).
Principles of Consolidation	(b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include (i) for the period prior to March 13, 2019, the accounts of AMGP and its consolidated subsidiaries, which did not include Antero Midstream Partners and its subsidiaries, and (ii) for the period beginning on March 13, 2019, the accounts of Antero Midstream Corporation and its consolidated subsidiaries, including Antero Midstream Partners and its subsidiaries, which were acquired in the Transactions. See Note 3—Business Combination. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements.
Revenue Recognition	(c) Revenue Recognition The Company, through Antero Midstream Partners and its affiliates, provides gathering, compression and water handling services under fee-based contracts primarily based on throughput or at cost plus a margin. Certain of these contracts contain operating leases of the Company’s assets under GAAP. Under these arrangements, the Company receives fees for gathering, compression services and water handling services. The revenue the Company earns from these arrangements is directly related to (i) in the case of natural gas gathering and compression, the volumes of metered natural gas that it gathers, compresses and delivers to natural gas compression sites or other transmission delivery points, (ii) in the case of fresh water services, the quantities of fresh water delivered to its customers for use in their well completion operations, (iii) in the case of wastewater treatment services performed by the Company prior to idling of the Clearwater Facility (as defined below) in September 2019, the quantities of wastewater treated for its customers, (iv) in the case of wastewater services provided by third parties, the third-party costs the Company incurs plus or (v) in the case of flowback and produced water treatment performed by the Company, a cost of service fee based on the costs incurred by the Company. The Company recognizes revenue when it satisfies a performance obligation by delivering a service to a customer or the use of leased assets to a customer. The Company includes lease revenue within revenues by service. See Note 7—Revenue.
Use of Estimates	(d) Use of Estimates The preparation of the unaudited condensed consolidated financial statements and notes in conformity with GAAP requires that management formulate estimates and assumptions that affect revenues, expenses, assets, liabilities and the disclosure of contingent liabilities. Items subject to estimates and assumptions include the useful lives of property and equipment, the valuation of assets and liabilities acquired from Antero Midstream Partners, as well as the valuation of accrued liabilities, among others. Although management believes these estimates are reasonable, actual results could differ from these estimates.
Cash and Cash Equivalents	(e) Cash and Cash Equivalents The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments.
Property and Equipment	(f) Property and Equipment Property and equipment primarily consists of gathering pipelines, compressor stations and the wastewater treatment facility and related landfill (collectively, the “Clearwater Facility”) previously used for the disposal of salt therefrom, other flowback and produced water treatment facilities, and fresh water delivery pipelines and facilities stated at historical cost less accumulated depreciation, amortization and impairment. The Company capitalizes construction-related direct labor and material costs. Maintenance and repair costs are expensed as incurred. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives and salvage values of assets. The depreciation of fixed assets recorded under operating lease agreements is included in depreciation expense. Uncertainties that may impact these estimates of useful lives include, among others, changes in laws and regulations relating to environmental matters, including air and water quality, restoration and abandonment requirements, economic conditions, and supply and demand for the Company’s services in the areas in which it operates. When assets are placed into service, management makes estimates with respect to useful lives and salvage values that management believes are reasonable. Amortization of landfill airspace consists of the amortization of landfill capital costs, including those that have been incurred and capitalized and estimated future costs for landfill development and construction, and the amortization of asset retirement costs arising from landfill final capping, closure, and post-closure obligations. Amortization expense is recorded on a units-of-consumption basis, applying cost as a rate per-cubic yard. The rate per-cubic yard is calculated by dividing each component of the amortizable basis of the landfill by the number of cubic yards needed to fill the corresponding asset’s airspace. Landfill capital costs and closure and post-closure asset retirement costs are generally incurred to support the operation of the landfill over its entire operating life and are, therefore, amortized on a per-cubic yard basis using a landfill’s total airspace capacity. Estimates of disposal capacity and future development costs are created using input from independent engineers and internal technical teams and are reviewed at least annually. The Company evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying values of the assets may not be recoverable. Generally, the basis for making such assessments is undiscounted future cash flow projections for the assets being assessed. If the carrying values of the assets are deemed not recoverable, the carrying values are reduced to the estimated fair values, which are based on discounted future cash flows using assumptions as to revenues, costs, and discount rates typical of third-party market participants, which is a Level 3 fair value measurement. The Company recognized an impairment with respect to the freshwater delivery system during the six months ended June 30, 2020.
Asset Retirement Obligations	(g) Asset Retirement Obligations The Company’s asset retirement obligations include its obligation to close, maintain, and monitor landfill cells and support facilities. After the entire landfill reaches capacity and is certified closed, the Company must continue to maintain and monitor the landfill for a post-closure period, which generally extends for . The Company records the fair value of its landfill retirement obligations as a liability in the period in which the regulatory obligation to retire a specific asset is triggered. For the Company’s individual landfill cells, the required closure and post-closure obligations under the terms of its permits and its intended operation of the landfill cell are triggered and recorded when the cell is placed into service and salt is initially disposed in the landfill cell. The fair value is based on the total estimated costs to close the landfill cell and perform post-closure activities once the landfill cell has reached capacity and is no longer accepting salt. Retirement obligations are increased each year to reflect the passage of time by accreting the balance at the weighted average credit-adjusted risk-free rate that is used to calculate the recorded liability, with accretion charged to direct costs. Actual cash expenditures to perform closure and post-closure activities reduce the retirement obligation liabilities as incurred. After initial measurement, asset retirement obligations are adjusted at the end of each period to reflect changes, if any, in the estimated future cash flows underlying the obligation. Landfill retirement assets are capitalized as the related retirement obligations are incurred, and are amortized on a units-of-consumption basis as the disposal capacity is consumed. Asset retirement obligations are recorded for fresh water impoundments and waste water pits when an abandonment date is identified. The Company records the fair value of its freshwater impoundment and waste water pit retirement obligations as liabilities in the period in which the regulatory obligation to retire a specific asset is triggered. The fair value is based on the total reclamation costs of the assets. Retirement obligations are increased each year to reflect the passage of time by accreting the balance at the weighted average credit-adjusted risk-free rate that is used to calculate the recorded liability, with accretion charged to direct costs. Actual cash expenditures to perform remediation activities reduce the retirement obligation liabilities as incurred. After initial measurement, asset retirement obligations are adjusted at the end of each period to reflect changes, if any, in the estimated future cash flows underlying the obligation. Fresh water impoundments and wastewater pit retirement assets are capitalized as the related retirement obligations are incurred, and are amortized on a straight-line basis until reclamation. The Company is under no legal obligations, neither contractually nor under the doctrine of promissory estoppel, to restore or dismantle its gathering pipelines, compressor stations, water delivery pipelines, flowback and produced water facilities and the Clearwater Facility upon abandonment. See Note 4—Clearwater Facility Idling.
Equity-Based Compensation	(h) Equity-Based Compensation The Company’s unaudited condensed consolidated financial statements include equity-based compensation costs related to awards granted by its own plans, as in place before and after the Transactions, as well as costs allocated by Antero Resources for grants made prior to the Transactions. Costs allocated from Antero Resources are offset to additional paid in capital on the unaudited condensed consolidated balance sheet. See Note 6—Transactions with Affiliates for additional information regarding Antero Resources’ allocation of expenses to the Company. For awards granted under its own plan, the Company recognizes compensation cost related to all equity-based awards in the financial statements based on the estimated grant date fair value. The Company is to grant various types of equity-based compensation awards, including stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, dividend equivalent awards and other types of awards. The grant date fair values of such awards are determined based on the type of award and may utilize market prices on the date of grant, Black-Scholes option-pricing model, Monte Carlo simulations or other acceptable valuation methodologies, as appropriate for the type of equity-based award. Compensation cost is recognized ratably over the applicable vesting or service period. Forfeitures are accounted for as they occur by reversing the expense previously recognized for awards that were forfeited during the period. See Note 11—Equity-Based Compensation.
Income Taxes	(i) Income Taxes The Company recognizes deferred tax assets and liabilities for temporary differences resulting from net operating loss carryforwards for income tax purposes and the differences between the financial statement and tax basis of assets and liabilities. The effect of changes in tax laws or tax rates is recognized in income during the period such changes are enacted. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. The Company regularly reviews its tax positions in each significant taxing jurisdiction during the process of evaluating its tax provision. The Company makes adjustments to its tax provision when: (i) facts and circumstances regarding a tax position change, causing a change in management’s judgment regarding that tax position; and/or (ii) a tax position is effectively settled with a tax authority at a differing amount. In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted. The CARES Act allows corporations with net operating losses (“NOLs”) incurred in 2018, 2019, and 2020 to carry back such NOLs to each of the five years preceding the year of the NOLs, beginning with the earliest year in which there was taxable income, and claim an income tax refund in the applicable carryback years. As a result of this NOLs carryback provision in the CARES Act, the Company was able to recognize an income tax refund receivable in March 2020 of $55 million, including $11 million in current income tax benefit and $44 million of previously recognized deferred income tax benefit. As of June 30, 2020, the Company had received $39 million of this refund.
Fair Value Measures	(j) Fair Value Measures The Financial Accounting Standards Board (the “FASB”) ASC Topic 820, Fair Value Measurements and Disclosures the Company estimates would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to prioritize inputs to valuation techniques used to estimate fair value. An asset or liability subject to the fair value requirements is categorized within the hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The highest priority (Level 1) is given to unadjusted quoted market prices in active markets for identical assets or liabilities, and the lowest priority (Level 3) is given to unobservable inputs. Level 2 inputs are data, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. The carrying values on the unaudited condensed balance sheet of the Company’s cash and cash equivalents, accounts receivable—Antero Resources, accounts receivable—third party, other current assets, accounts payable—Antero Resources, accounts payable—third party, accrued liabilities and other current liabilities approximate fair values due to their short-term maturities. The assets and liabilities of Antero Midstream Partners were recorded at fair value as of the acquisition date, March 12, 2019 (see Note 3—Business Combination). Additionally, the Company uses certain fair valuation techniques in performing its goodwill impairment test described below and in determining the fair value of the freshwater delivery system, both of which were impaired in the first quarter of 2020.
Investments in Unconsolidated Affiliates	(k) Investments in Unconsolidated Affiliates The Company uses the equity method to account for its investments in companies if the investment provides the Company with the ability to exercise significant influence over, but not control of, the operating and financial policies of the investee. The Company’s unaudited condensed consolidated net income (loss) includes the Company’s proportionate share of the net income or loss of such companies. The Company’s judgment regarding the level of influence over each equity method investee includes considering key factors such as the Company’s ownership interest, representation on the board of directors and participation in policy-making decisions of the investee and material intercompany transactions. See Note 15—Investments in Unconsolidated Affiliates.
Business Combinations	(l) Business Combinations The Company recognizes and measures the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date, with any remaining difference recorded as goodwill. For acquisitions, management engages an independent valuation specialist, as applicable, to assist with the determination of fair value of the assets acquired, liabilities assumed, and goodwill, based on recognized business valuation methodologies. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition, and not later than one year from the acquisition date, the Company will record any material adjustments to the initial estimate based on new information obtained that would have existed as of the acquisition date. An adjustment that arises from information obtained that did not exist as of the date of the acquisition will be recorded in the period of the adjustment. Acquisition-related costs are expensed as incurred in connection with each business combination. See Note 3—Business Combination.
Goodwill and Intangible Assets	(m) Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition of a business. Goodwill is not amortized, but rather is tested for impairment annually in the fourth quarter and when events or changes in circumstances indicate that the fair value of a reporting unit with goodwill has been reduced below its carrying value. The impairment test requires allocating goodwill and other assets and liabilities to reporting units. The fair value of each reporting unit is determined and compared to the carrying value of the reporting unit. The fair value is calculated using the expected present value of future cash flows method. Significant assumptions used in the cash flow forecasts include future net operating margins, future volumes, discount rates and future capital requirements. If the fair value of the reporting unit is less than the carrying value, including goodwill, the excess of the book value over the fair value of goodwill is charged to net income as an impairment expense. Amortization of intangible assets with definite lives is calculated using the straight-line method, which is reflective of the benefit pattern in which the estimated economic benefit is expected to be received over the estimated useful life of the intangible asset. Intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible asset may not be recoverable. If the sum of the expected undiscounted future cash flows related to the asset is less than the carrying amount of the asset, an impairment loss is recognized based on the fair value of the asset. See Note 4— and Note 5—Goodwill and Intangibles.
Treasury Share Retirement	(n ) Treasury Share Retirement The Company periodically retires treasury shares acquired through share repurchases and returns those shares to the status of authorized but unissued. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired first, to additional paid-in capital, and then, to accumulated earnings. The portion allocable to additional paid-in capital is determined by applying a percentage, determined by dividing the number of shares to be retired by the number of shares outstanding, to the balance of additional paid-in capital as of retirement .

Business Combination (Tables)

Business Combination (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combination
Schedule of components of fair value of consideration transferred	The components of the fair value of consideration transferred are as follows (in thousands): ​ ​ ​ ​ ​ Fair value of shares of AM common stock issued (1) $ 4,017,881 ​ Cash ​ ​ 598,709 ​ Total fair value of consideration transferred ​ $ 4,616,590 ​ (1) The fair value of each share of AM common stock issued in connection with the Transactions was determined to be $12.54 , the closing price of AMGP common shares on March 12, 2019.
Schedule of estimated fair value of assets acquired and liabilities assumed	The final purchase price allocation of the Transactions are summarized in the table below. The fair value of assets acquired and liabilities assumed at March 12, 2019, were as follows (in thousands): ​ ​ ​ ​ ​ ​ Cash and cash equivalents $ 619,532 ​ Accounts receivable–Antero Resources ​ ​ 142,312 ​ Accounts receivable–third party ​ ​ 117 ​ Other current assets ​ ​ 1,150 ​ Property and equipment, net ​ ​ 3,371,427 ​ Investments in unconsolidated affiliates ​ ​ 568,285 ​ Customer relationships ​ ​ 1,567,000 ​ Other assets, net ​ ​ 42,887 ​ Total assets acquired ​ ​ 6,312,710 ​ ​ ​ ​ ​ ​ Accounts payable–Antero Resources ​ ​ 3,316 ​ Accounts payable–third party ​ ​ 30,674 ​ Accrued liabilities ​ ​ 87,021 ​ Other current liabilities ​ ​ 537 ​ Long-term debt ​ ​ 2,364,935 ​ Contingent acquisition consideration ​ ​ 116,924 ​ Other liabilities ​ ​ 8,524 ​ Total liabilities assumed ​ ​ 2,611,931 ​ Net assets acquired, excluding goodwill ​ ​ 3,700,779 ​ Goodwill ​ ​ 915,811 ​ Net assets acquired ​ $ 4,616,590 ​

Clearwater Facility Idling (Tab

Clearwater Facility Idling (Tables)	6 Months Ended
	Jun. 30, 2020
Clearwater Facility Idling
Schedule of Clearwater Facility impairment	​ ​ ​ ​ ​ Impairment of property and equipment $ 408,882 ​ Impairment of goodwill ​ ​ 42,290 ​ Impairment of customer relationships ​ ​ 11,871 ​ Total impairment expense ​ $ 463,043 ​

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangibles
Schedule of Finite-Lived Intangible Assets	The changes in the carrying amount of customer relationships for the six months ended June 30, 2020 were as follows (in thousands): ​ ​ ​ ​ ​ ​ Customer relationships as of December 31, 2019 $ 1,498,119 ​ Accumulated amortization ​ ​ (35,211) ​ Customer relationships as of June 30, 2020 ​ $ 1,462,908 ​
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Future amortization expense is as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2020 $ 35,463 ​ Year ending December 31, 2021 ​ ​ 70,672 ​ Year ending December 31, 2022 ​ ​ 70,672 ​ Year ending December 31, 2023 ​ ​ 70,672 ​ Year ending December 31, 2024 ​ ​ 70,672 ​ Year ending December 31, 2025 ​ ​ 70,672 ​ Thereafter ​ ​ 1,074,085 ​ Total ​ $ 1,462,908 ​

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue
Schedule of minimum revenue amounts under the minimum volume commitments	Minimum revenue amounts under the gathering and compression minimum volume commitments are as follows (in thousands): ​ ​ ​ ​ ​ Remainder of 2020 $ 80,262 ​ Year ending December 31, 2021 ​ ​ 235,901 ​ Year ending December 31, 2022 ​ ​ 235,901 ​ Year ending December 31, 2023 ​ ​ 235,901 ​ Year ending December 31, 2024 ​ ​ 236,547 ​ Year ending December 31, 2025 ​ ​ 222,858 ​ Thereafter ​ ​ 499,138 ​ Total ​ $ 1,746,508 ​
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ Segment to which ​ (in thousands) ​ 2019 ​ 2020 ​ 2019 ​ 2020 ​ revenues relate ​ Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of service ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering—low pressure ​ $ 78,807 ​ ​ 85,791 ​ ​ 94,634 ​ ​ 166,939 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (24,000) ​ Gathering and Processing (1) ​ Gathering—high pressure ​ ​ 47,749 ​ ​ 51,577 ​ ​ 57,032 ​ ​ 100,490 ​ Gathering and Processing (1) ​ Compression ​ ​ 42,369 ​ ​ 48,623 ​ ​ 50,793 ​ ​ 93,691 ​ Gathering and Processing (1) ​ Fresh water delivery ​ ​ 43,429 ​ ​ 36,900 ​ ​ 54,204 ​ ​ 102,718 ​ Water Handling ​ Wastewater treatment ​ ​ 12,011 ​ ​ — ​ ​ 14,441 ​ ​ — ​ Water Handling ​ Other fluid handling ​ ​ 39,787 ​ ​ 26,451 ​ ​ 48,937 ​ ​ 58,817 ​ Water Handling ​ Amortization of customer relationships (2) ​ ​ (2,402) ​ ​ (9,239) ​ ​ (2,903) ​ ​ (18,477) ​ Gathering and Processing ​ Amortization of customer relationships (2) ​ ​ (6,132) ​ ​ (8,367) ​ ​ (7,412) ​ ​ (16,734) ​ Water Handling ​ Total ​ $ 255,618 ​ ​ 219,736 ​ ​ 309,726 ​ ​ 463,444 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of contract ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit Fixed Fee ​ $ 168,925 ​ ​ 185,991 ​ ​ 202,459 ​ ​ 361,120 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (24,000) ​ Gathering and Processing (1) ​ Per Unit Fixed Fee ​ ​ 55,440 ​ ​ 36,900 ​ ​ 68,645 ​ ​ 102,718 ​ Water Handling ​ Cost plus 3% ​ ​ 39,787 ​ ​ 23,742 ​ ​ 48,937 ​ ​ 54,687 ​ Water Handling ​ Cost of service fee ​ ​ — ​ ​ 2,709 ​ ​ — ​ ​ 4,130 ​ Water Handling ​ Amortization of customer relationships (2) ​ ​ (2,402) ​ ​ (9,239) ​ ​ (2,903) ​ ​ (18,477) ​ Gathering and Processing ​ Amortization of customer relationships (2) ​ ​ (6,132) ​ ​ (8,367) ​ ​ (7,412) ​ ​ (16,734) ​ Water Handling ​ Total ​ $ 255,618 ​ ​ 219,736 ​ ​ 309,726 ​ ​ 463,444 ​ ​ ​ (1) Revenue related to the gathering and processing segment is classified as lease income related to the gathering system. (2) Fair value of customer contracts acquired as part of the Transactions discussed in Note 3—Business Combination.

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2020
Property and Equipment
Schedule of investment in property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ December 31, ​ June 30, ​ (in thousands) useful lives 2019 ​ 2020 ​ Land n/a $ 23,549 ​ 23,582 ​ Gathering systems and facilities ​ 40-50 years (1) ​ ​ 2,375,241 ​ ​ 2,577,408 ​ Permanent buried pipelines and equipment ​ 7-20 years ​ ​ 602,230 ​ ​ 537,173 ​ Surface pipelines and equipment ​ 1-7 years ​ ​ 48,594 ​ ​ 42,919 ​ Landfill ​ n/a (2) ​ ​ 1,244 ​ ​ 1,244 ​ Heavy trucks and equipment ​ 3-5 years ​ ​ 6,617 ​ ​ 5,919 ​ Above ground storage tanks ​ 5-10 years ​ ​ 3,418 ​ ​ 1,868 ​ Construction-in-progress ​ n/a ​ 300,165 ​ ​ 163,575 ​ Total property and equipment ​ ​ ​ ​ 3,361,058 ​ ​ 3,353,688 ​ Less accumulated depreciation ​ ​ ​ ​ (87,648) ​ ​ (104,045) ​ Property and equipment, net ​ ​ ​ $ 3,273,410 ​ ​ 3,249,643 ​ (1) Gathering systems and facilities are recognized as a single-leased asset with no residual value. (2) Amortization of landfill costs is recorded over the life of the landfill on a units-of-consumption basis.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Long-Term Debt.
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ June 30, ​ (in thousands) ​ 2019 ​ 2020 ​ Credit Facility (a) $ 959,500 ​ 1,155,000 ​ 5.375% senior notes due 2024 (b) ​ ​ 652,600 ​ ​ 652,600 ​ 5.75% senior notes due 2027 (c) ​ ​ 653,250 ​ ​ 653,250 ​ 5.75% senior notes due 2028 (d) ​ ​ 650,000 ​ ​ 650,000 ​ Net unamortized debt issuance costs ​ ​ (23,101) ​ ​ (22,065) ​ Total long-term debt ​ $ 2,892,249 ​ ​ 3,088,785 ​

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities as of December 31, 2019 and June 30, 2020 consisted of the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ June 30, ​ (in thousands) 2019 2020 Capital expenditures ​ $ 27,427 ​ ​ 16,284 ​ Operating expenses ​ ​ 24,980 ​ ​ 9,839 ​ Interest expense ​ ​ 44,440 ​ ​ 40,524 ​ Other ​ ​ 7,341 ​ ​ 5,637 ​ Total accrued liabilities ​ $ 104,188 ​ ​ 72,284 ​

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Equity-Based Compensation
Summary of restricted stock unit awards activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Aggregate ​ ​ ​ Number of ​ grant date ​ intrinsic value ​ ​ units fair value (in thousands) ​ Total AM LTIP RSUs awarded and unvested—December 31, 2019 ​ 1,275,990 ​ $ 14.38 ​ $ 9,685 ​ Granted ​ 985,269 ​ $ 7.23 ​ ​ ​ ​ Vested ​ (454,933) ​ $ 13.63 ​ ​ ​ ​ Forfeited ​ (47,367) ​ $ 14.43 ​ ​ ​ ​ Total AM LTIP RSUs awarded and unvested—June 30, 2020 ​ 1,758,959 ​ $ 10.45 ​ $ 8,971 ​

Cash Distributions and Divide_2

Cash Distributions and Dividends (Tables)	6 Months Ended
	Jun. 30, 2020
Cash Distributions and Dividends
Schedule of quarterly distributions and dividends paid	The following table details the amount of distributions and dividends paid with respect to the quarter indicated (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distributions/ ​ Quarter ​ ​ ​ ​ ​ Distributions/ ​ Dividends ​ and Year Record Date Distribution Date Dividends per share ​ Q4 2018 ​ February 1, 2019 ​ February 21, 2019 ​ $ 30,543 ​ $ 0.164 ​ Q1 2019 ​ April 26, 2019 ​ May 8, 2019 ​ ​ 152,082 ​ $ 0.3025 ​ Q1 2019 ​ May 15, 2019 ​ May 15, 2019 ​ ​ 98 ​ ​ * ​ Q2 2019 ​ July 26, 2019 ​ August 7, 2019 ​ ​ 154,146 ​ $ 0.3075 ​ Q2 2019 ​ August 14, 2019 ​ September 18, 2019 ​ ​ 138 ​ ​ * ​ Q3 2019 ​ November 1, 2019 ​ November 13, 2019 ​ ​ 153,033 ​ $ 0.3075 ​ Q3 2019 ​ November 14, 2019 ​ November 14, 2019 ​ ​ 138 ​ ​ * ​ ** ​ December 31, 2019 ​ December 31, 2019 ​ ​ 2,299 ​ ​ ** ​ ​ ​ Total 2019 ​ ​ ​ $ 492,477 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Q4 2019 ​ January 31, 2020 ​ February 12, 2020 ​ $ 148,876 ​ $ 0.3075 ​ * ​ February 14, 2020 ​ February 14, 2020 ​ ​ 138 ​ ​ * ​ Q1 2020 ​ April 30, 2020 ​ May 12, 2020 ​ ​ 147,519 ​ $ 0.3075 ​ * ​ May 15, 2020 ​ May 15, 2020 ​ ​ 137 ​ ​ * ​ ​ ​ Total 2020 ​ ​ ​ $ 296,670 ​ ​ ​ ​ * Dividends are paid in accordance with the terms of the Series A Preferred Stock as discussed in Note 13—Equity and Earnings Per Common Share. ** D istributions declared on unvested Series B Units prior to the closing date of the Transactions that were paid upon the vesting date to the holders of the Exchanged B Units.

Equity and Earnings Per Commo_2

Equity and Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Equity and Earnings Per Common Share
Schedule of weighted average shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ (in thousands) 2019 2020 2019 2020 ​ Basic weighted average number of shares outstanding ​ ​ 506,816 ​ ​ 476,836 ​ ​ 381,045 ​ ​ 479,969 ​ Add: Dilutive effect of restricted stock units ​ ​ 78 ​ ​ 40 ​ ​ 108 ​ ​ — ​ Add: Dilutive effect of Series A preferred stock ​ ​ 873 ​ ​ 1,961 ​ ​ 873 ​ ​ — ​ Diluted weighted average number of shares outstanding ​ ​ 507,767 ​ ​ 478,837 ​ ​ 382,026 ​ ​ 479,969 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted stock units ​ ​ — ​ ​ — ​ ​ — ​ ​ 77 ​ Preferred shares ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,961 ​ (1) The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common shares—assuming dilution because the inclusion of these awards would have been anti-dilutive.
Schedule of earnings per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ (in thousands, except per share amounts) 2019 2020 2019 2020 ​ Net income (loss) ​ $ 69,274 ​ ​ 88,441 ​ ​ 78,922 ​ ​ (304,492) ​ Less preferred stock dividends ​ ​ (139) ​ ​ (137) ​ ​ (168) ​ ​ (275) ​ Net income (loss) available to common shareholders ​ $ 69,135 ​ ​ 88,304 ​ ​ 78,754 ​ ​ (304,767) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) per share–basic ​ $ 0.14 ​ ​ 0.19 ​ ​ 0.21 ​ ​ (0.63) ​ Net income (loss) per share–diluted ​ $ 0.14 ​ ​ 0.18 ​ ​ 0.21 ​ ​ (0.63) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding–basic ​ ​ 506,816 ​ ​ 476,836 ​ ​ 381,045 ​ ​ 479,969 ​ Weighted average common shares outstanding–diluted ​ ​ 507,767 ​ ​ 478,837 ​ ​ 382,026 ​ ​ 479,969 ​

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2020
Investments in Unconsolidated Affiliates
Schedule of reconciliation of investments in unconsolidated affiliates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Antero ​ ​ ​ ​ ​ Total Investment ​ ​ ​ Midstream ​ ​ ​ MarkWest ​ in Unconsolidated ​ (in thousands) Partners LP Stonewall ​ Joint Venture Affiliates ​ Balance at December 31, 2018 ​ $ 43,492 ​ ​ — ​ ​ — ​ ​ 43,492 ​ Distributions from unconsolidated affiliates ​ ​ (43,492) ​ ​ — ​ ​ — ​ ​ (43,492) ​ Balance at March 12, 2019 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Investments in unconsolidated affiliates acquired from Antero Midstream Partners ​ ​ — ​ ​ 142,071 ​ ​ 426,214 ​ ​ 568,285 ​ Additional Investments ​ ​ — ​ ​ — ​ ​ 154,359 ​ ​ 154,359 ​ Equity in net income of unconsolidated affiliates (1) ​ ​ — ​ ​ 4,117 ​ ​ 47,198 ​ ​ 51,315 ​ Distributions from unconsolidated affiliates ​ ​ — ​ ​ (5,730) ​ ​ (58,590) ​ ​ (64,320) ​ Balance at December 31, 2019 ​ ​ — ​ ​ 140,458 ​ ​ 569,181 ​ ​ 709,639 ​ Additional investments ​ ​ — ​ ​ — ​ ​ 21,988 ​ ​ 21,988 ​ Equity in net income of unconsolidated affiliates (1) ​ ​ — ​ ​ 3,160 ​ ​ 36,864 ​ ​ 40,024 ​ Distributions from unconsolidated affiliates ​ ​ — ​ ​ (4,485) ​ ​ (37,343) ​ ​ (41,828) ​ Balance at June 30, 2020 ​ $ — ​ ​ 139,133 ​ ​ 590,690 ​ ​ 729,823 ​ (1) As adjusted for the amortization of the difference between the cost of the equity investments in Stonewall and the Joint Venture and the amount of the underlying equity in the net assets of Stonewall and the Joint Venture as of the date of the Transactions.

Reporting Segments (Tables)

Reporting Segments (Tables)	6 Months Ended
	Jun. 30, 2020
Reporting Segments
Schedule of operating results and assets of the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Three months ended June 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 168,925 ​ ​ 95,181 ​ ​ — ​ ​ 264,106 ​ Revenue–third-party ​ ​ — ​ ​ 46 ​ ​ — ​ ​ 46 ​ Amortization of customer contracts ​ ​ (2,402) ​ ​ (6,132) ​ ​ — ​ ​ (8,534) ​ Total revenues ​ ​ 166,523 ​ ​ 89,095 ​ ​ — ​ ​ 255,618 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 12,377 ​ ​ 51,621 ​ ​ — ​ ​ 63,998 ​ General and administrative (excluding equity-based compensation) ​ ​ 7,335 ​ ​ 3,958 ​ ​ 1,786 ​ ​ 13,079 ​ Equity-based compensation ​ ​ 2,286 ​ ​ 926 ​ ​ 18,331 ​ ​ 21,543 ​ Impairment of property and equipment ​ ​ 592 ​ ​ 2 ​ ​ — ​ ​ 594 ​ Depreciation ​ ​ 12,721 ​ ​ 23,726 ​ ​ — ​ ​ 36,447 ​ Accretion and change in fair value of contingent acquisition consideration ​ ​ — ​ ​ 2,297 ​ ​ — ​ ​ 2,297 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 69 ​ ​ — ​ ​ 69 ​ Total expenses ​ ​ 35,311 ​ ​ 82,599 ​ ​ 20,117 ​ ​ 138,027 ​ Operating income ​ $ 131,212 ​ ​ 6,496 ​ ​ (20,117) ​ ​ 117,591 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 13,623 ​ ​ — ​ ​ — ​ ​ 13,623 ​ Total assets ​ $ 4,916,854 ​ ​ 1,844,385 ​ ​ 7,770 ​ ​ 6,769,009 ​ Additions to property and equipment ​ $ 81,529 ​ ​ 43,656 ​ ​ — ​ ​ 125,185 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Three months ended June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 173,991 ​ ​ 63,351 ​ ​ — ​ ​ 237,342 ​ Amortization of customer relationships ​ ​ (9,239) ​ ​ (8,367) ​ ​ — ​ ​ (17,606) ​ Total revenues ​ ​ 164,752 ​ ​ 54,984 ​ ​ — ​ ​ 219,736 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 14,059 ​ ​ 28,008 ​ ​ — ​ ​ 42,067 ​ General and administrative (excluding equity-based compensation) ​ ​ 5,440 ​ ​ 2,694 ​ ​ 1,591 ​ ​ 9,725 ​ Facility idling ​ ​ — ​ ​ 2,475 ​ ​ — ​ ​ 2,475 ​ Equity-based compensation ​ ​ 2,266 ​ ​ 431 ​ ​ — ​ ​ 2,697 ​ Depreciation ​ ​ 14,406 ​ ​ 13,339 ​ ​ — ​ ​ 27,745 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 61 ​ ​ — ​ ​ 61 ​ Loss on asset sale ​ ​ — ​ ​ 240 ​ ​ — ​ ​ 240 ​ Total expenses ​ ​ 36,171 ​ ​ 47,248 ​ ​ 1,591 ​ ​ 85,010 ​ Operating income ​ $ 128,581 ​ ​ 7,736 ​ ​ (1,591) ​ ​ 134,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 20,947 ​ ​ — ​ ​ — ​ ​ 20,947 ​ Total assets ​ $ 4,387,102 ​ ​ 1,149,355 ​ ​ 178,598 ​ ​ 5,715,055 ​ Additions to property and equipment ​ $ 49,278 ​ ​ 6,153 ​ ​ — ​ ​ 55,431 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Six months ended June 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 202,459 ​ ​ 117,532 ​ ​ — ​ ​ 319,991 ​ Revenue–third-party ​ ​ — ​ ​ 50 ​ ​ — ​ ​ 50 ​ Amortization of customer relationships ​ ​ (2,903) ​ ​ (7,412) ​ ​ — ​ ​ (10,315) ​ Total revenues ​ ​ 199,556 ​ ​ 110,170 ​ ​ — ​ ​ 309,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 15,312 ​ ​ 63,668 ​ ​ — ​ ​ 78,980 ​ General and administrative (excluding equity-based compensation) ​ ​ 8,355 ​ ​ 4,532 ​ ​ 8,578 ​ ​ 21,465 ​ Equity-based compensation ​ ​ 2,663 ​ ​ 1,139 ​ ​ 29,164 ​ ​ 32,966 ​ Impairment of property and equipment ​ ​ 592 ​ ​ 2 ​ ​ — ​ ​ 594 ​ Depreciation ​ ​ 15,281 ​ ​ 28,816 ​ ​ — ​ ​ 44,097 ​ Accretion and change in fair value of contingent acquisition consideration ​ ​ — ​ ​ 3,346 ​ ​ — ​ ​ 3,346 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 79 ​ ​ — ​ ​ 79 ​ Total operating expenses ​ ​ 42,203 ​ ​ 101,582 ​ ​ 37,742 ​ ​ 181,527 ​ Operating income ​ $ 157,353 ​ ​ 8,588 ​ ​ (37,742) ​ ​ 128,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 16,503 ​ ​ — ​ ​ — ​ ​ 16,503 ​ Total assets ​ $ 4,916,854 ​ ​ 1,844,385 ​ ​ 7,770 ​ ​ 6,769,009 ​ Additions to property and equipment ​ $ 89,206 ​ ​ 51,984 ​ ​ — ​ ​ 141,190 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Six months ended June 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 337,120 ​ ​ 161,535 ​ ​ — ​ ​ 498,655 ​ Amortization of customer relationships ​ ​ (18,477) ​ ​ (16,734) ​ ​ — ​ ​ (35,211) ​ Total revenues ​ ​ 318,643 ​ ​ 144,801 ​ ​ — ​ ​ 463,444 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 27,450 ​ ​ 63,345 ​ ​ — ​ ​ 90,795 ​ General and administrative (excluding equity-based compensation) ​ ​ 10,484 ​ ​ 5,599 ​ ​ 3,841 ​ ​ 19,924 ​ Facility idling ​ ​ — ​ ​ 11,153 ​ ​ — ​ ​ 11,153 ​ Impairment of goodwill ​ ​ 575,461 ​ ​ — ​ ​ — ​ ​ 575,461 ​ Impairment of property and equipment ​ ​ — ​ ​ 89,083 ​ ​ — ​ ​ 89,083 ​ Equity-based compensation ​ ​ 4,799 ​ ​ 986 ​ ​ 250 ​ ​ 6,035 ​ Depreciation ​ ​ 27,456 ​ ​ 27,632 ​ ​ — ​ ​ 55,088 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 103 ​ ​ — ​ ​ 103 ​ Loss on asset sale ​ ​ — ​ ​ 240 ​ ​ — ​ ​ 240 ​ Total operating expenses ​ ​ 645,650 ​ ​ 198,141 ​ ​ 4,091 ​ ​ 847,882 ​ Operating loss ​ $ (327,007) ​ ​ (53,340) ​ ​ (4,091) ​ ​ (384,438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 40,024 ​ ​ — ​ ​ — ​ ​ 40,024 ​ Total assets ​ $ 4,387,102 ​ ​ 1,149,355 ​ ​ 178,598 ​ ​ 5,715,055 ​ Additions to property and equipment, net ​ $ 103,937 ​ ​ 19,477 ​ ​ — ​ ​ 123,414 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis .

Organization (Details)

Organization (Details) - $ / shares	Mar. 12, 2019	Jun. 30, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Series B Unit, Vested and Unvested
Shares exchange ratio	176.0041

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020
Principles of Consolidation
Third party out of pocket costs reimbursement (as a percent)		3.00%
Asset Retirement Obligations
Post-closure period for landfill to maintain and monitor		30 years
Income taxes
Income tax refund receivable as a result of the CARES Act	$ 55
Current income tax benefit	11
Previously recognized deferred income tax benefit	$ 44
Income tax refund received		$ 39

Business Combination - Fair Val

Business Combination - Fair Value of Consideration Transferred (Details) $ / shares in Units, $ in Thousands	Mar. 12, 2019USD ($)$ / shares
Components of the fair value of consideration transferred
Share price (in dollars per share) | $ / shares	$ 12.54
Antero Midstream Partners
Components of the fair value of consideration transferred
Fair value of shares of AMC common stock issued(1)	$ 4,017,881
Cash	598,709
Total fair value of consideration transferred	$ 4,616,590

Business Combination - Estimate

Business Combination - Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 12, 2019	Jun. 30, 2019	Dec. 31, 2019
Estimated fair value of assets acquired and liabilities assumed
Goodwill			$ 575,461
Antero Midstream Partners
Estimated fair value of assets acquired and liabilities assumed
Cash and cash equivalents	$ 619,532
Other current assets	1,150
Property and equipment, net	3,371,427
Investments in unconsolidated affiliates	568,285
Customer relationships	1,567,000
Other assets, net	42,887
Total assets acquired	6,312,710
Accrued liabilities	87,021
Other current liabilities	537
Long-term debt	2,364,935
Contingent acquisition consideration	116,924
Other liabilities	8,524
Total liabilities assumed	2,611,931
Net assets acquired, excluding goodwill	3,700,779
Goodwill	915,811
Net assets acquired	$ 4,616,590
Acquisition-related costs		$ 6,000
Weighted average amortization period	23 years
Goodwill	$ 915,000
Antero Midstream Partners | Antero Resources
Estimated fair value of assets acquired and liabilities assumed
Accounts receivable	142,312
Accounts payable	3,316
Antero Midstream Partners | Third Party
Estimated fair value of assets acquired and liabilities assumed
Accounts receivable	117
Accounts payable	30,674
Gathering And Processing | Antero Midstream Partners
Estimated fair value of assets acquired and liabilities assumed
Goodwill	575,000
Water Handling | Antero Midstream Partners
Estimated fair value of assets acquired and liabilities assumed
Goodwill	$ 340,000

Clearwater Facility Idling (Det

Clearwater Facility Idling (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Clearwater Facility Impairment
Impairment of property and equipment		$ 594	$ 89,083	$ 594
Impairment of goodwill			575,461
Total impairment expense			664,544	$ 594
Facility idling	$ 2,475		11,153
Clearwater Facility
Clearwater Facility Impairment
Impairment of property and equipment					$ 408,882
Impairment of goodwill					42,290
Impairment charge					11,871
Total impairment expense					$ 463,043
Facility idling	$ 2,500		$ 11,200

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Goodwill
Goodwill		$ 575,461
Impairment of goodwill			$ (575,461)
Gathering And Processing
Goodwill
Impairment of goodwill	$ 575,000
Water Handling
Goodwill
Goodwill		0
Impairment of goodwill		$ 298,000

Goodwill and Intangibles - Cust

Goodwill and Intangibles - Customer Relationships (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finite lived intangible assets rollforward
Customer relationships beginning of period			$ 1,498,119
Amortization of customer relationships	$ (17,606)	$ (8,534)	(35,211)	$ (10,315)
Customer relationships end of period	1,462,908		$ 1,462,908
Customer relationships
Finite lived intangible assets
Amortization period			23 years
Finite lived intangible assets rollforward
Customer relationships beginning of period			$ 1,498,119
Amortization of customer relationships			(35,211)
Customer relationships end of period	$ 1,462,908		$ 1,462,908

Goodwill and Intangibles - Futu

Goodwill and Intangibles - Future amortization expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Future amortization expense
Total	$ 1,462,908	$ 1,498,119
Customer relationships
Future amortization expense
Remainder of year ending December 31, 2020	35,463
Year ending December 31, 2021	70,672
Year ending December 31, 2022	70,672
Year ending December 31, 2023	70,672
Year ending December 31, 2024	70,672
Year ending December 31, 2025	70,672
Thereafter	1,074,085
Total	$ 1,462,908	$ 1,498,119

Transactions with Affiliates (D

Transactions with Affiliates (Details) - Antero Resources - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Allocation of costs
Direct labor expenses	$ 1.5	$ 1.9	$ 3.5	$ 2.3
General and administrative expense	$ 6.4	$ 11.8	$ 12.8	$ 13.9

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Agreements
Third party out of pocket costs reimbursement (as a percent)		3.00%
Gathering And Compression Agreement
Agreements
Notice period		180 days
Rebate issued	$ 12	$ 24
Water Services Agreement
Agreements
Notice period		180 days
Third party out of pocket costs reimbursement (as a percent)		3.00%

Revenue - Minimum Volume Commit

Revenue - Minimum Volume Commitments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum volume commitment that require Antero to pay for high pressure lines	75.00%
Minimum volume commitment that require Antero to pay for compressor stations	70.00%
Term of new construction	10 years
Minimum revenue amounts	$ 1,746,508
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Minimum revenue amounts under the minimum volume commitments
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 | Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum revenue amounts	$ 80,262
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Minimum revenue amounts under the minimum volume commitments
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum revenue amounts	$ 235,901
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Minimum revenue amounts under the minimum volume commitments
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum revenue amounts	$ 235,901
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Minimum revenue amounts under the minimum volume commitments
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum revenue amounts	$ 236,547
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Minimum revenue amounts under the minimum volume commitments
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum revenue amounts	$ 222,858
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Minimum revenue amounts under the minimum volume commitments
Expected timing of satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Gathering And Compression Agreement
Minimum revenue amounts under the minimum volume commitments
Minimum revenue amounts	$ 499,138

Revenue - Disaggregation (Detai

Revenue - Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue
Amortization of customer relationships	$ (17,606)	$ (8,534)	$ (35,211)	$ (10,315)
Gain on sale of assets-third party	(240)		(240)
Total revenue	219,736	255,618	463,444	309,726
Gathering And Processing
Disaggregation of Revenue
Amortization of customer relationships	(9,239)	(2,402)	(18,477)	(2,903)
Water Handling
Disaggregation of Revenue
Amortization of customer relationships	(8,367)	(6,132)	(16,734)	(7,412)
Fixed Fee | Gathering And Processing
Disaggregation of Revenue
Revenue	185,991	168,925	361,120	202,459
Fixed Fee | Water Handling
Disaggregation of Revenue
Revenue	36,900	55,440	102,718	68,645
Cost plus 3% | Water Handling
Disaggregation of Revenue
Revenue	23,742	39,787	54,687	48,937
Cost of service fee | Water Handling
Disaggregation of Revenue
Revenue	2,709		4,130
Gathering-low pressure | Gathering And Processing
Disaggregation of Revenue
Revenue	85,791	78,807	166,939	94,634
Gathering-low pressure rebate | Gathering And Processing
Disaggregation of Revenue
Revenue	(12,000)		(24,000)
Gathering-high pressure | Gathering And Processing
Disaggregation of Revenue
Revenue	51,577	47,749	100,490	57,032
Compression | Gathering And Processing
Disaggregation of Revenue
Revenue	48,623	42,369	93,691	50,793
Fresh water delivery | Water Handling
Disaggregation of Revenue
Revenue	36,900	43,429	102,718	54,204
Wastewater treatment | Water Handling
Disaggregation of Revenue
Revenue		12,011		14,441
Other fluid handling | Water Handling
Disaggregation of Revenue
Revenue	$ 26,451	$ 39,787	$ 58,817	$ 48,937

Revenue - Transaction Price All

Revenue - Transaction Price Allocation and Contract Balances (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Revenue
Original expected duration	true
Receivables with customers	$ 76	$ 101

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Property and Equipment
Total property and equipment		$ 3,353,688	$ 3,361,058
Less accumulated depreciation		(104,045)	(87,648)
Property and equipment, net		3,249,643	3,273,410
Impairment of long-lived assets	$ 89,000
Land
Property and Equipment
Total property and equipment		23,582	23,549
Gathering systems and facilities
Property and Equipment
Total property and equipment		2,577,408	2,375,241
Residual value		$ 0
Gathering systems and facilities | Minimum
Property and Equipment
Estimated useful lives		40 years
Gathering systems and facilities | Maximum
Property and Equipment
Estimated useful lives		50 years
Permanent buried pipelines and equipment
Property and Equipment
Total property and equipment		$ 537,173	602,230
Impairment of long-lived assets	83,000
Permanent buried pipelines and equipment | Minimum
Property and Equipment
Estimated useful lives		7 years
Permanent buried pipelines and equipment | Maximum
Property and Equipment
Estimated useful lives		20 years
Surface pipelines and equipment
Property and Equipment
Total property and equipment		$ 42,919	48,594
Impairment of long-lived assets	$ 6,000
Surface pipelines and equipment | Minimum
Property and Equipment
Estimated useful lives		1 year
Surface pipelines and equipment | Maximum
Property and Equipment
Estimated useful lives		7 years
Landfill
Property and Equipment
Total property and equipment		$ 1,244	1,244
Heavy trucks and equipment
Property and Equipment
Total property and equipment		$ 5,919	6,617
Heavy trucks and equipment | Minimum
Property and Equipment
Estimated useful lives		3 years
Heavy trucks and equipment | Maximum
Property and Equipment
Estimated useful lives		5 years
Above ground storage tanks
Property and Equipment
Total property and equipment		$ 1,868	3,418
Above ground storage tanks | Minimum
Property and Equipment
Estimated useful lives		5 years
Above ground storage tanks | Maximum
Property and Equipment
Estimated useful lives		10 years
Construction-in-progress
Property and Equipment
Total property and equipment		$ 163,575	$ 300,165

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Jun. 28, 2019	Feb. 25, 2019	Sep. 13, 2016	Jun. 30, 2020	Dec. 31, 2019	Sep. 03, 2016
Long-term debt
Net unamortized debt issuance costs				$ (22,065,000)	$ (23,101,000)
Total long-term debt				3,088,785,000	2,892,249,000
New revolving credit facility
Long-term debt
Long-term debt				1,155,000,000	959,500,000
New revolving credit facility | Antero Midstream Partners
Long-term debt
Long-term debt				1,200,000,000	960,000,000
Maximum borrowing capacity				2,130,000,000
Outstanding balance				$ 0	$ 0
Weighted average interest rate (as a percent)				1.69%	3.15%
New revolving credit facility | Not Investment Grade Period | Minimum
Long-term debt
Commitment fees on the unused portion (as a percent)				0.25%
New revolving credit facility | Not Investment Grade Period | Maximum
Long-term debt
Commitment fees on the unused portion (as a percent)				0.375%
5.375% Senior Notes due 2024
Long-term debt
Long-term debt				$ 652,600,000	$ 652,600,000
5.375% Senior Notes due 2024 | Finance Corp and together with Antero Midstream Partners
Long-term debt
Face amount			$ 650,000,000
Interest rate (as a percent)			5.375%	5.375%		5.375%
Debt instrument redemption percentage upon change of control			101.00%
5.375% Senior Notes due 2024 | Redemption period one | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage			104.031%
5.375% Senior Notes due 2024 | Redemption period two | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage			100.00%
5.75% Senior Notes Due 2027
Long-term debt
Long-term debt				$ 653,250,000	$ 653,250,000
Face amount		$ 650,000,000
Interest rate (as a percent)		5.75%		5.75%	5.75%
Debt instrument redemption percentage upon change of control		101.00%
5.75% Senior Notes Due 2027 | Maximum
Long-term debt
Percent of aggregate principal amount that can be redeemed		35.00%
5.75% Senior Notes Due 2027 | Redemption period one
Long-term debt
Debt instrument redemption percentage		102.875%
5.75% Senior Notes Due 2027 | Redemption period two
Long-term debt
Debt instrument redemption percentage		100.00%
5.75% Senior Notes Due 2027 | Redemption period three
Long-term debt
Debt instrument redemption percentage		105.75%
Debt instrument redemption percentage with payment of premium and interest		100.00%
5.75% Senior Notes Due 2028
Long-term debt
Long-term debt				$ 650,000,000	$ 650,000,000
Face amount	$ 650,000,000
Interest rate (as a percent)	5.75%			5.75%	5.75%
Debt instrument redemption percentage upon change of control	101.00%
5.75% Senior Notes Due 2028 | Maximum
Long-term debt
Percent of aggregate principal amount that can be redeemed	35.00%
5.75% Senior Notes Due 2028 | Redemption period one
Long-term debt
Debt instrument redemption percentage	102.875%
5.75% Senior Notes Due 2028 | Redemption period two
Long-term debt
Debt instrument redemption percentage	100.00%
5.75% Senior Notes Due 2028 | Redemption period three
Long-term debt
Debt instrument redemption percentage	105.75%
Debt instrument redemption percentage with payment of premium and interest	100.00%

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accrued Liabilities
Capital expenditures	$ 16,284	$ 27,427
Operating expenses	9,839	24,980
Interest expense	40,524	44,440
Other	5,637	7,341
Total accrued liabilities	$ 72,284	$ 104,188

Equity Based Compensation (Deta

Equity Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 12, 2019	Jan. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Additional disclosures
Expense recognized			$ 2,697	$ 21,543		$ 6,035	$ 32,966
Antero Midstream Partners
Additional disclosures
Expense recognized			1,300		$ 2,800	3,200
Antero Resources
Additional disclosures
Unamortized expense			15,000			15,000
Midstream LTIP
Additional disclosures
Unamortized expense			$ 15,000			$ 15,000
Weighted average period for recognizing unrecognized stock-based compensation expense						2 years 1 month 6 days
2017 AMGP LTIP
Additional disclosures
Expense recognized				0			200
AM LTIP
Number of units
Total awarded and unvested at the beginning of the period (in shares)		1,275,990				1,275,990
Granted (in shares)						985,269
Vested (in shares)						(454,933)
Forfeited (in shares)						(47,367)
Total awarded and unvested at the end of the period (in shares)			1,758,959			1,758,959
Weighted average grant date fair value
Total awarded and unvested at the beginning of the period (in dollars per unit)		$ 14.38				$ 14.38
Granted (in dollars per unit)						7.23
Vested (in dollars per unit)						13.63
Forfeited (in dollars per unit)						14.43
Total awarded and unvested at the end of the period (in dollars per unit)			$ 10.45			$ 10.45
Aggregate intrinsic value
Total awarded and unvested at the beginning of the period		$ 9,685				$ 9,685
Total awarded and unvested at the end of the period			$ 8,971			8,971
Additional disclosures
Expense recognized			$ 1,300			$ 2,700
Number of stock-based compensation awards authorized	15,398,901
Number of shares available for future grant under the Plan			12,840,630			12,840,630
Cash awards granted		$ 2,200
Vesting period for cash awards		3 years
Cash awards accrued in other liabilities			$ 800			$ 800
Series B Unit, Vested and Unvested
Additional disclosures
Shares exchange ratio	176.0041
Exchanged B Units
Additional disclosures
Expense recognized				18,000			29,000
Shares exchanged	17,353,999
Common stock issued in exchange	98,600
ROIC PSUs
Additional disclosures
Expense recognized			78	$ 163		156	$ 163
Unamortized expense			$ 600			$ 600
Weighted average period for recognizing unrecognized stock-based compensation expense						1 year 9 months 18 days

Cash Distribution and Dividends

Cash Distribution and Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 15, 2020	May 15, 2020	May 12, 2020	Feb. 14, 2020	Feb. 12, 2020	Dec. 31, 2019	Nov. 14, 2019	Nov. 13, 2019	Sep. 18, 2019	Aug. 07, 2019	May 15, 2019	May 08, 2019	Feb. 21, 2019	Jun. 30, 2020	Dec. 31, 2019
Partnership equity and distributions
Cash dividends declared per common share	$ 0.3075
Common shareholders
Partnership equity and distributions
Distributions		$ 137	$ 147,519	$ 138	$ 148,876	$ 2,299	$ 138	$ 153,033		$ 154,146	$ 98	$ 152,082	$ 30,543	$ 296,670	$ 492,477
Distributions per share (in dollars per share)			$ 0.3075		$ 0.3075			$ 0.3075		$ 0.3075		$ 0.3025	$ 0.164
Antero Midstream GP LP | Common shareholders
Partnership equity and distributions
Distributions									$ 138
Series A Preferred Stock
Partnership equity and distributions
Cash dividend declared	$ 138
Dividends in arrears														$ 69

Equity and Earnings Per Commo_3

Equity and Earnings Per Common Share (Details) - $ / shares	Mar. 12, 2019	Jun. 30, 2020	Dec. 31, 2019
Number of shares authorized	100,000,000	100,000,000	100,000,000
Series A Preferred Stock
Shares issued for acquisition	10,000
Preferred stock dividend rate	5.50%
Redemption price per share	$ 1,000

Equity and Earnings Per Commo_4

Equity and Earnings Per Common Share - Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Weighted average common shares outstanding-basic	476,836	506,816	479,969	381,045
Add: Dilutive effect of restrictive stock units	40	78		108
Add: Dilutive effect of Series A preferred stock	1,961	873		873
Diluted weighted average number of shares outstanding	478,837	507,767	479,969	382,026
Restricted unit awards
Antidilutive securities excluded from computation of earnings per share			77
Preferred shares
Antidilutive securities excluded from computation of earnings per share			1,961

Equity and Earnings Per Commo_5

Equity and Earnings Per Common Share - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Equity and Earnings Per Common Share
Net income (loss)	$ 88,441	$ (392,933)	$ 69,274	$ (304,492)	$ 78,922
Less preferred stock dividends	(137)		(139)	(275)	(168)
Net income (loss) available to common shareholders	$ 88,304		$ 69,135	$ (304,767)	$ 78,754
Net income (loss) per share-basic (in dollars per share)	$ 0.19		$ 0.14	$ (0.63)	$ 0.21
Net income (loss) per share-diluted (in dollars per share)	$ 0.18		$ 0.14	$ (0.63)	$ 0.21
Weighted average common shares outstanding-basic	476,836		506,816	479,969	381,045
Weighted average common shares outstanding-diluted	478,837		507,767	479,969	382,026

Fair Value Measurement (Details

Fair Value Measurement (Details) $ in Millions	1 Months Ended
	Sep. 30, 2015USD ($)bbl	Jun. 30, 2020USD ($)	Mar. 31, 2020	Jan. 31, 2020USD ($)	Mar. 12, 2019
Level 2 | 5.375% Senior Notes due 2024
Fair value measurement
Debt instrument fair value		$ 553
Level 2 | 5.75% Senior Notes Due 2027
Fair value measurement
Debt instrument fair value		520
Level 2 | 5.75% Senior Notes Due 2028
Fair value measurement
Debt instrument fair value		$ 517
Recurring | Discount rate | Third-party market participants
Fair value measurement
Property and Equipment discount rate			0.190
Weighted Average | Recurring | Discounted cash flow | Level 3
Fair value measurement
Business comnination cost of capital					0.141
Weighted Average | Recurring | Discounted cash flow, comparable company and market value | Level 3
Fair value measurement
Goodwill cost of capital			0.180
Contingent Consideration Period One
Fair value measurement
Contingent consideration	$ 125			$ 125
Threshold number of barrels of water to trigger contingent consideration payment | bbl	176,295,000
Contribution Agreement | Contingent Consideration Period Two
Fair value measurement
Contingent consideration	$ 125
Threshold number of barrels of water to trigger contingent consideration payment | bbl	219,200,000

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates (Details) $ in Thousands	2 Months Ended	3 Months Ended		6 Months Ended		10 Months Ended
	Mar. 12, 2019USD ($)	Jun. 30, 2020USD ($)itemmi	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)itemmi	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Investments in unconsolidated affiliates
Balance at beginning of period	$ 43,492			$ 709,639	$ 43,492
Distributions from unconsolidated affiliates	(43,492)				(43,492)
Investments in unconsolidated affiliates acquired from Antero Midstream Partners						$ 568,285
Additional investments				21,988		(154,359)
Equity in net income of unconsolidated affiliates		$ 20,947	$ 13,623	40,024	16,503	51,315
Distributions from unconsolidated affiliates				(41,828)	(23,860)	(64,320)
Balance at end of period		$ 729,823		$ 729,823		709,639
Antero Midstream Partners LP
Investments in unconsolidated affiliates
Balance at beginning of period	43,492				$ 43,492
Distributions from unconsolidated affiliates	$ (43,492)
Stonewall
Equity Method Investments
Ownership percentage		15.00%		15.00%
Number of miles of pipeline | mi		67		67
Investments in unconsolidated affiliates
Balance at beginning of period				$ 140,458
Investments in unconsolidated affiliates acquired from Antero Midstream Partners						142,071
Equity in net income of unconsolidated affiliates				3,160		4,117
Distributions from unconsolidated affiliates				(4,485)		(5,730)
Balance at end of period		$ 139,133		$ 139,133		140,458
MarkWest Joint venture
Equity Method Investments
Ownership percentage		50.00%		50.00%
Percentage of interest held by joint venture in third party fractionator in Ohio				33.33%
Number of fractionators | item		2		2
Investments in unconsolidated affiliates
Balance at beginning of period				$ 569,181
Investments in unconsolidated affiliates acquired from Antero Midstream Partners						426,214
Additional investments				21,988		(154,359)
Equity in net income of unconsolidated affiliates				36,864		47,198
Distributions from unconsolidated affiliates				(37,343)		(58,590)
Balance at end of period		$ 590,690		$ 590,690		$ 569,181

Reporting Segments (Details)

Reporting Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended		10 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segmentitem	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Reporting Segments
Number of reportable segments | segment			2
Revenues:
Amortization of customer relationships	$ (17,606)	$ (8,534)	$ (35,211)	$ (10,315)
Gain on sale of assets-third party	(240)		(240)
Total revenue	219,736	255,618	463,444	309,726
Operating expenses:
Direct operating	42,067	63,998	90,795	78,980
General and administrative (excluding equity-based compensation)	9,725	13,079	19,924	21,465
Facility idling	2,475		11,153
Equity-based compensation	2,697	21,543	6,035	32,966
Impairment of property and equipment		594	89,083	594
Impairment of goodwill			575,461
Depreciation	27,745	36,447	55,088	44,097
Accretion and change in fair value of contingent acquisition consideration		2,297		3,346
Accretion of asset retirement obligations	61	69	103	79
Loss on asset sale	240		240
Total operating expenses	85,010	138,027	847,882	181,527
Operating income (loss)	134,726	117,591	(384,438)	128,199
Equity in earnings of unconsolidated affiliates	20,947	13,623	40,024	16,503	$ 51,315
Total assets	5,715,055	6,769,009	5,715,055	6,769,009	$ 6,282,878
Additions to property and equipment	55,431	125,185	123,414	141,190
Antero Resources
Revenues:
Revenue	237,342	264,106	498,655	319,991
Third party
Revenues:
Revenue		46		50
Gathering And Processing
Revenues:
Amortization of customer relationships	(9,239)	(2,402)	$ (18,477)	(2,903)
Water Handling
Reporting Segments
Number of independent fresh water systems | item			2
Revenues:
Amortization of customer relationships	(8,367)	(6,132)	$ (16,734)	(7,412)
Operating Segments | Gathering And Processing
Revenues:
Amortization of customer relationships	(9,239)	(2,402)	(18,477)	(2,903)
Total revenue	164,752	166,523	318,643	199,556
Operating expenses:
Direct operating	14,059	12,377	27,450	15,312
General and administrative (excluding equity-based compensation)	5,440	7,335	10,484	8,355
Equity-based compensation	2,266	2,286	4,799	2,663
Impairment of property and equipment		592		592
Impairment of goodwill			575,461
Depreciation	14,406	12,721	27,456	15,281
Total operating expenses	36,171	35,311	645,650	42,203
Operating income (loss)	128,581	131,212	(327,007)	157,353
Equity in earnings of unconsolidated affiliates	20,947	13,623	40,024	16,503
Total assets	4,387,102	4,916,854	4,387,102	4,916,854
Additions to property and equipment	49,278	81,529	103,937	89,206
Operating Segments | Gathering And Processing | Antero Resources
Revenues:
Revenue	173,991	168,925	337,120	202,459
Operating Segments | Water Handling
Revenues:
Amortization of customer relationships	(8,367)	(6,132)	(16,734)	(7,412)
Gain on sale of assets-third party	(240)		(240)
Total revenue	54,984	89,095	144,801	110,170
Operating expenses:
Direct operating	28,008	51,621	63,345	63,668
General and administrative (excluding equity-based compensation)	2,694	3,958	5,599	4,532
Facility idling	2,475		11,153
Equity-based compensation	431	926	986	1,139
Impairment of property and equipment		2	89,083	2
Depreciation	13,339	23,726	27,632	28,816
Accretion and change in fair value of contingent acquisition consideration		2,297		3,346
Accretion of asset retirement obligations	61	69	103	79
Loss on asset sale	240		240
Total operating expenses	47,248	82,599	198,141	101,582
Operating income (loss)	7,736	6,496	(53,340)	8,588
Total assets	1,149,355	1,844,385	1,149,355	1,844,385
Additions to property and equipment	6,153	43,656	19,477	51,984
Operating Segments | Water Handling | Antero Resources
Revenues:
Revenue	63,351	95,181	161,535	117,532
Operating Segments | Water Handling | Third party
Revenues:
Revenue		46		50
Unallocated
Operating expenses:
General and administrative (excluding equity-based compensation)	1,591	1,786	3,841	8,578
Equity-based compensation		18,331	250	29,164
Total operating expenses	1,591	20,117	4,091	37,742
Operating income (loss)	(1,591)	(20,117)	(4,091)	(37,742)
Total assets	$ 178,598	$ 7,770	$ 178,598	$ 7,770