Antero Midstream (AM) 10-Q 26 Oct 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 21, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		478,484,564
Entity Central Index Key	0001623925
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Accounts receivable - Antero Resources	$ 77,301	$ 81,197
Accounts receivable - third party	1,988	747
Income tax receivable	940	940
Other current assets	556	920
Total current assets	80,785	83,804
Property and equipment, net	3,508,008	3,394,746
Investments in unconsolidated affiliates	659,006	696,009
Customer relationships	1,303,771	1,356,775
Other assets, net	12,251	12,667
Total assets	5,563,821	5,544,001
Current liabilities:
Accounts payable - Antero Resources	2,648	4,956
Accounts payable - third party	24,125	23,592
Accrued liabilities	72,952	80,838
Other current liabilities	6,657	4,623
Total current liabilities	106,382	114,009
Long-term liabilities:
Long-term debt	3,143,169	3,122,910
Deferred income tax liability	98,519	13,721
Other	3,896	6,663
Total liabilities	3,351,966	3,257,303
Stockholders' Equity:
Preferred stock
Common stock, $0.01 par value; 2,000,000 authorized; 477,495 and 478,462 issued and outstanding as of December 31, 2021 and September 30, 2022, respectively	4,784	4,775
Additional paid-in capital	2,123,057	2,414,398
Retained earnings (accumulated deficit)	84,014	(132,475)
Total stockholders' equity	2,211,855	2,286,698
Total liabilities and stockholders' equity	5,563,821	5,544,001
Series A Preferred Stock
Stockholders' Equity:
Preferred stock

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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	478,462,000	477,495,000
Common stock, shares outstanding	478,462,000	477,495,000
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Amortization of customer relationships	$ (17,668)	$ (17,668)	$ (53,004)	$ (53,004)
Total revenue	231,034	224,804	678,432	681,712
Operating expenses:
Direct operating	46,648	39,499	131,959	118,368
General and administrative	13,587	14,810	47,597	46,991
Facility idling	865	870	3,198	3,033
Depreciation	34,206	27,487	98,181	80,956
Impairment of property and equipment		203	3,702	1,582
Accretion of asset retirement obligations	50	114	178	347
Loss on settlement of asset retirement obligations			539
Loss (gain) on asset sale	(2,092)		(2,242)	3,628
Total operating expenses	93,264	82,983	283,112	254,905
Operating income	137,770	141,821	395,320	426,807
Other income (expense):
Interest expense, net	(47,835)	(44,544)	(137,540)	(130,915)
Equity in earnings of unconsolidated affiliates	24,411	24,088	70,467	66,347
Loss on early extinguishment of debt				(20,701)
Total other expense	(23,424)	(20,456)	(67,073)	(85,269)
Income before income taxes	114,346	121,365	328,247	341,538
Income tax expense	(30,332)	(32,038)	(84,798)	(88,547)
Net income and comprehensive income	$ 84,014	$ 89,327	$ 243,449	$ 252,991
Net income per share-basic (in dollars per share)	$ 0.18	$ 0.19	$ 0.51	$ 0.53
Net income per share-diluted (in dollars per share)	$ 0.17	$ 0.19	$ 0.51	$ 0.53
Weighted average common shares outstanding:
Basic (in shares)	478,460	477,442	478,144	477,196
Diluted (in shares)	480,318	479,695	480,342	479,501
Natural Gas, Gathering, Transportation, Marketing and Processing - Affiliate
Revenue:
Total operating revenues	$ 185,640	$ 188,716	$ 552,154	$ 566,544
Natural Gas Water Handling and Treatment - Affiliate
Revenue:
Total operating revenues	61,411	53,511	176,994	167,832
Natural Gas Water Handling and Treatment
Revenue:
Total operating revenues	$ 1,651	$ 245	$ 2,288	$ 340

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Consolidated Statements of Operations and Comprehensive Income
Equity-based compensation	$ 5,553	$ 3,255	$ 14,026	$ 10,326

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2020	$ 4,766	$ 2,877,612	$ (464,092)	$ 2,418,286
Balance (shares) at Dec. 31, 2020	476,639
Dividends to stockholders		(147,332)		(147,332)
Equity-based compensation		4,012		4,012
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	$ 3	(1,544)		(1,541)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)	268
Net income and comprehensive income			83,441	83,441
Balance at Mar. 31, 2021	$ 4,769	2,732,748	(380,651)	2,356,866
Balance (shares) at Mar. 31, 2021	476,907
Balance at Dec. 31, 2020	$ 4,766	2,877,612	(464,092)	2,418,286
Balance (shares) at Dec. 31, 2020	476,639
Net income and comprehensive income				252,991
Balance at Sep. 30, 2021	$ 4,775	2,518,919	(211,101)	2,312,593
Balance (shares) at Sep. 30, 2021	477,460
Balance at Mar. 31, 2021	$ 4,769	2,732,748	(380,651)	2,356,866
Balance (shares) at Mar. 31, 2021	476,907
Dividends to stockholders		(108,936)		(108,936)
Equity-based compensation		3,059		3,059
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	$ 5	(2,781)		(2,776)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)	451
Net income and comprehensive income			80,223	80,223
Balance at Jun. 30, 2021	$ 4,774	2,624,090	(300,428)	2,328,436
Balance (shares) at Jun. 30, 2021	477,358
Dividends to stockholders		(107,857)		(107,857)
Equity-based compensation		3,255		3,255
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	$ 1	(569)		(568)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)	102
Net income and comprehensive income			89,327	89,327
Balance at Sep. 30, 2021	$ 4,775	2,518,919	(211,101)	2,312,593
Balance (shares) at Sep. 30, 2021	477,460
Balance at Dec. 31, 2021	$ 4,775	2,414,398	(132,475)	$ 2,286,698
Balance (shares) at Dec. 31, 2021	477,495			477,495
Dividends to stockholders		(108,287)		$ (108,287)
Equity-based compensation		2,832		2,832
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	$ 2	(1,331)		(1,329)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)	188
Net income and comprehensive income			80,040	80,040
Balance at Mar. 31, 2022	$ 4,777	2,307,612	(52,435)	2,259,954
Balance (shares) at Mar. 31, 2022	477,683
Balance at Dec. 31, 2021	$ 4,775	2,414,398	(132,475)	$ 2,286,698
Balance (shares) at Dec. 31, 2021	477,495			477,495
Net income and comprehensive income				$ 243,449
Balance at Sep. 30, 2022	$ 4,784	2,123,057	84,014	$ 2,211,855
Balance (shares) at Sep. 30, 2022	478,462			478,462
Balance at Mar. 31, 2022	$ 4,777	2,307,612	(52,435)	$ 2,259,954
Balance (shares) at Mar. 31, 2022	477,683
Dividends to stockholders		(109,433)		(109,433)
Equity-based compensation		5,641		5,641
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes	$ 7	(5,445)		(5,438)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)	754
Net income and comprehensive income			79,395	79,395
Balance at Jun. 30, 2022	$ 4,784	2,198,375	26,960	2,230,119
Balance (shares) at Jun. 30, 2022	478,437
Dividends to stockholders		(80,853)	(26,960)	(107,813)
Equity-based compensation		5,553		5,553
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes		(18)		(18)
Issuance of common stock upon vesting of equity-based compensation awards, net of common stock withheld for income taxes (in shares)	25
Net income and comprehensive income			84,014	84,014
Balance at Sep. 30, 2022	$ 4,784	$ 2,123,057	$ 84,014	$ 2,211,855
Balance (shares) at Sep. 30, 2022	478,462			478,462

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows provided by (used in) operating activities:
Net income	$ 243,449	$ 252,991
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	98,181	80,956
Accretion of asset retirement obligations	178	347
Impairment	3,702	1,582
Deferred income tax expense	84,798	88,547
Equity-based compensation	14,026	10,326
Equity in earnings of unconsolidated affiliates	(70,467)	(66,347)
Distributions from unconsolidated affiliates	90,470	87,115
Amortization of customer relationships	53,004	53,004
Amortization of deferred financing costs	4,268	4,152
Settlement of asset retirement obligations	(1,395)	(814)
Loss on settlement of asset retirement obligations	539
Loss (gain) on asset sale	(2,242)	3,628
Loss on early extinguishment of debt		20,701
Changes in assets and liabilities:
Accounts receivable-Antero Resources	5,596	(11,429)
Accounts receivable-third party	(822)	594
Income tax receivable		16,311
Other current assets	242	810
Accounts payable-Antero Resources	(2,006)	(705)
Accounts payable-third party	12,228	11,058
Accrued liabilities	(2,773)	(7,337)
Net cash provided by operating activities	530,976	545,490
Cash flows provided by (used in) investing activities:
Investments in unconsolidated affiliates		(2,070)
Return of investment in unconsolidated affiliate	17,000
Cash received in asset sale	4,026	1,653
Change in other assets	(24)
Change in other liabilities	(804)
Net cash used in investing activities	(215,956)	(157,365)
Cash flows provided by (used in) financing activities:
Dividends to stockholders	(325,120)	(363,712)
Dividends to preferred stockholders	(413)	(413)
Issuance of senior notes		750,000
Redemption of senior notes		(667,472)
Payments of deferred financing costs	(302)	(9,449)
Borrowings (repayments) on bank credit facilities, net	17,600	(92,800)
Employee tax withholding for settlement of equity compensation awards	(6,785)	(4,885)
Other		(34)
Net cash used in financing activities	(315,020)	(388,765)
Net decrease in cash and cash equivalents		(640)
Cash and cash equivalents, beginning of period		640
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	130,236	132,360
Cash received during the period for income taxes		16,913
Increase in accrued capital expenditures and accounts payable for property and equipment	(17,130)	22,675
Gathering systems and facilities
Cash flows provided by (used in) investing activities:
Additions	(190,407)	(120,727)
Water handling systems
Cash flows provided by (used in) investing activities:
Additions	$ (45,747)	$ (36,221)

Organization

Organization	9 Months Ended
	Sep. 30, 2022
Organization
Organization	(1 ) Organization Antero Midstream Corporation (together with its consolidated subsidiaries, “Antero Midstream,” “AM” or the “Company”) is a growth-oriented midstream company formed to own, operate and develop midstream energy infrastructure primarily to service Antero Resources Corporation (“Antero Resources”) and its production and completion activity in the Appalachian Basin. The Company’s assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants and water handling assets. Antero Midstream provides midstream services to Antero Resources under long-term contracts. The Company’s corporate headquarters is located in Denver, Colorado. ​

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
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, 2021 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, 2021 consolidated financial statements were included in the Company’s 2021 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, 2021 and September 30, 2022, the results of the Company’s operations for the three and nine months ended September 30, 2021 and 2022, and the Company’s cash flows for the nine months ended September 30, 2021 and 2022. The Company has no items of other comprehensive income; therefore, net income is equal to comprehensive income. 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 4—Transactions with Affiliates). (b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Antero Midstream Corporation and its consolidated subsidiaries. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements. (c) Dividends Preferred and common dividends declared are recorded as a reduction of retained earnings to the extent that retained earnings were available at the close of the quarter prior to the dividend declaration date, with any excess recorded as a reduction of additional paid-in capital. (d) Recently Adopted Accounting Standard In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Simplifying the Accounting for Income Taxes Income Taxes (“ASC 740”), and also simplifies portions of ASC 740 by clarifying and amending existing guidance. It is effective for interim and annual reporting periods after December 15, 2020. The Company adopted this ASU on January 1, 2021, and it did not have a material impact on the Company's consolidated financial statements

Intangibles

Intangibles	9 Months Ended
	Sep. 30, 2022
Intangibles
Intangibles	(3) Intangibles All customer relationships are subject to amortization and are amortized over a weighted average period of 19 years, which reflects the remaining economic life of the relationships as of September 30, 2022. ​ ​ ​ ​ ​ ​ Customer relationships as of December 31, 2021 ​ $ 1,356,775 ​ Amortization of customer relationships ​ ​ (53,004) ​ Customer relationships as of September 30, 2022 ​ $ 1,303,771 ​ ​ Future amortization expense is as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2022 ​ $ 17,668 ​ Year ending December 31, 2023 ​ ​ 70,672 ​ Year ending December 31, 2024 ​ ​ 70,672 ​ Year ending December 31, 2025 ​ ​ 70,672 ​ Year ending December 31, 2026 ​ ​ 70,672 ​ Thereafter ​ ​ 1,003,415 ​ Total ​ $ 1,303,771 ​ ​

Transactions with Affiliates

Transactions with Affiliates	9 Months Ended
	Sep. 30, 2022
Transactions with Affiliates
Transactions with Affiliates	(4) Transactions with Affiliates (a) Revenues Substantially all revenues earned in the three and nine months ended September 30, 2021 and 2022 were earned from Antero Resources, under various agreements for gathering and compression and water handling services. Revenues earned from gathering and compression 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 $2 million and $3 million during the three months ended September 30, 2021 and 2022, respectively, and $7 million and $10 million during the nine months ended September 30, 2021 and 2022, 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 including certain equity-based compensation. These expenses are charged to the Company based on 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. The Company reimburses Antero Resources directly for all general and administrative costs charged to it, except costs attributable to noncash equity-based compensation. For further information on equity-based compensation, see Note 9—Equity-Based Compensation and Cash Awards. ​

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue
Revenue	(5) Revenue All of the Company’s gathering and compression revenues are derived from an operating lease agreement, and all of the Company’s water handling revenues are derived from service contracts with customers. The Company currently earns substantially all of its revenues from Antero Resources. (a) Gathering and Compression 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 quarterly volumetric targets during such time. Antero Resources did 30, 2021 since Antero Resources did not achieve any volumetric targets during the first, second and third quarters of 2021. For the three and nine months ended September 30, 2022, Antero Resources earned rebates of $ million, respectively, from the Company by achieving the first level volumetric target during the first, second and third quarters of 2022. 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 annual Consumer Price Index (“CPI”)-based adjustments, or a cost of service fee, at the Company’s election when such assets are placed in-service. In addition, the agreement stipulates that the Company receives a reimbursement for the actual cost of (i) electricity used at its compressor stations where the compression services are provided based on a compression fee and (ii) operating expenses for all services provided for a cost of service fee. 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. When a modification to the gathering and compression agreement occurs, the Company reassesses the classification of this lease. 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 gathering and compression agreement includes certain fixed fee provisions. If and to the extent Antero Resources requests that the Company construct new low pressure lines, high pressure lines and/or compressor stations, the gathering and compression agreement contains options at the Company’s election for either (i) minimum volume commitments that , which election is made individually for each piece of equipment placed in service. All lease payments under the minimum volume commitments and cost of service fees are considered to be in-substance fixed lease payments under the gathering and compression agreement. The Company recognizes lease income from its minimum volume commitments and cost of service fees under its gathering and compression agreement on a straight-line basis. Additional variable operating lease income is earned when volumes in excess of the minimum commitments are delivered under the contract. The Company recognizes variable lease income when low pressure volumes are delivered to a compressor station, compression volumes are delivered to a high pressure line and high pressure are delivered to a processing plant or transmission pipeline. Minimum volume commitments for high pressure gathering capacity and compression capacity are aggregated such that there is a single minimum volume commitment for the respective service each year. The Company invoices the customer the month after each service is performed, and payment is due in the same month. Minimum future lease cash flows to be received by the Company under the gathering and compression agreement as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2022 ​ $ 45,492 ​ Year ending December 31, 2023 ​ ​ 298,655 ​ Year ending December 31, 2024 ​ ​ 299,473 ​ Year ending December 31, 2025 ​ ​ 285,175 ​ Year ending December 31, 2026 ​ ​ 271,762 ​ Thereafter ​ ​ 562,414 ​ Total ​ $ 1,762,971 ​ ​ (b) Water Handling 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. The initial term of the water services agreement runs to 2035. 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 for fresh water deliveries by pipeline directly to the well site, subject to annual CPI-based adjustments. In addition, the Company also provides other fluid handling services. These operations, along with the Company’s fresh water delivery systems, support well completion and production operations for Antero Resources. These services are provided by the Company directly or through third-parties with which the Company contracts. For these other fluid handling services provided by third-parties, Antero Resources reimburses the Company’s third-party out-of-pocket costs plus . For these other fluid handling services provided by the Company, the Company charges Antero Resources a cost of service fee. The Company satisfies its performance obligations and recognizes revenue when (i) the fresh water volumes have been delivered to the hydration unit of a specified well pad or (ii) other fluid handling services have been completed . 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. Transaction Price Allocated to Remaining Performance Obligations The Company’s water service agreement with Antero Resources has a term greater than one year. 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 water 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 exempt from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of Contract Balances Under the Company’s water service contracts, the Company invoices customers after the performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s water service contracts do not give rise to contract assets or liabilities. (c) Disaggregation of Revenue In the following table, revenue is disaggregated by type of service and type of fee and is identified by the reportable segment to which such revenues relate. For more information on reportable segments, see Note 14—Reportable Segments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ ​ (in thousands) ​ 2021 ​ 2022 ​ 2021 ​ 2022 Reportable Segment ​ Type of service ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering—low pressure ​ $ 87,139 ​ ​ 92,091 ​ ​ 265,206 ​ ​ 273,188 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (36,000) ​ Gathering and Processing (1) ​ Compression ​ ​ 49,765 ​ ​ 52,364 ​ ​ 147,273 ​ ​ 155,462 ​ Gathering and Processing (1) ​ Gathering—high pressure ​ ​ 51,812 ​ ​ 53,185 ​ ​ 154,065 ​ ​ 159,504 ​ Gathering and Processing (1) ​ Fresh water delivery ​ ​ 33,004 ​ ​ 38,445 ​ ​ 108,113 ​ ​ 111,609 ​ Water Handling ​ Other fluid handling ​ ​ 20,752 ​ ​ 24,617 ​ ​ 60,059 ​ ​ 67,673 ​ Water Handling ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (9,271) ​ ​ (27,813) ​ ​ (27,814) ​ Gathering and Processing ​ Amortization of customer relationships ​ ​ (8,397) ​ ​ (8,397) ​ ​ (25,191) ​ ​ (25,190) ​ Water Handling ​ Total ​ $ 224,804 ​ ​ 231,034 ​ ​ 681,712 ​ ​ 678,432 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of contract ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit Fixed Fee ​ $ 188,716 ​ ​ 197,640 ​ ​ 566,544 ​ ​ 588,154 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (36,000) ​ Gathering and Processing (1) ​ Per Unit Fixed Fee ​ ​ 33,004 ​ ​ 38,921 ​ ​ 108,113 ​ ​ 112,722 ​ Water Handling ​ Cost plus 3% ​ ​ 16,952 ​ ​ 19,346 ​ ​ 48,727 ​ ​ 51,384 ​ Water Handling ​ Cost of service fee ​ ​ 3,800 ​ ​ 4,795 ​ ​ 11,332 ​ ​ 15,176 ​ Water Handling ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (9,271) ​ ​ (27,813) ​ ​ (27,814) ​ Gathering and Processing ​ Amortization of customer relationships ​ ​ (8,397) ​ ​ (8,397) ​ ​ (25,191) ​ ​ (25,190) ​ Water Handling ​ Total ​ $ 224,804 ​ ​ 231,034 ​ ​ 681,712 ​ ​ 678,432 ​ ​ ​ (1) Revenue related to the gathering and processing segment is classified as lease income related to the gathering system. ​ The Company’s receivables from its contracts with customers and operating leases as of December 31, 2021 and September 30, 2022, were $81 million and $79 million, respectively .
Lessor, Operating Leases	(5) Revenue All of the Company’s gathering and compression revenues are derived from an operating lease agreement, and all of the Company’s water handling revenues are derived from service contracts with customers. The Company currently earns substantially all of its revenues from Antero Resources. (a) Gathering and Compression 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 quarterly volumetric targets during such time. Antero Resources did 30, 2021 since Antero Resources did not achieve any volumetric targets during the first, second and third quarters of 2021. For the three and nine months ended September 30, 2022, Antero Resources earned rebates of $ million, respectively, from the Company by achieving the first level volumetric target during the first, second and third quarters of 2022. 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 annual Consumer Price Index (“CPI”)-based adjustments, or a cost of service fee, at the Company’s election when such assets are placed in-service. In addition, the agreement stipulates that the Company receives a reimbursement for the actual cost of (i) electricity used at its compressor stations where the compression services are provided based on a compression fee and (ii) operating expenses for all services provided for a cost of service fee. 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. When a modification to the gathering and compression agreement occurs, the Company reassesses the classification of this lease. 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 gathering and compression agreement includes certain fixed fee provisions. If and to the extent Antero Resources requests that the Company construct new low pressure lines, high pressure lines and/or compressor stations, the gathering and compression agreement contains options at the Company’s election for either (i) minimum volume commitments that , which election is made individually for each piece of equipment placed in service. All lease payments under the minimum volume commitments and cost of service fees are considered to be in-substance fixed lease payments under the gathering and compression agreement. The Company recognizes lease income from its minimum volume commitments and cost of service fees under its gathering and compression agreement on a straight-line basis. Additional variable operating lease income is earned when volumes in excess of the minimum commitments are delivered under the contract. The Company recognizes variable lease income when low pressure volumes are delivered to a compressor station, compression volumes are delivered to a high pressure line and high pressure are delivered to a processing plant or transmission pipeline. Minimum volume commitments for high pressure gathering capacity and compression capacity are aggregated such that there is a single minimum volume commitment for the respective service each year. The Company invoices the customer the month after each service is performed, and payment is due in the same month. Minimum future lease cash flows to be received by the Company under the gathering and compression agreement as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2022 ​ $ 45,492 ​ Year ending December 31, 2023 ​ ​ 298,655 ​ Year ending December 31, 2024 ​ ​ 299,473 ​ Year ending December 31, 2025 ​ ​ 285,175 ​ Year ending December 31, 2026 ​ ​ 271,762 ​ Thereafter ​ ​ 562,414 ​ Total ​ $ 1,762,971 ​ ​ (b) Water Handling 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. The initial term of the water services agreement runs to 2035. 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 for fresh water deliveries by pipeline directly to the well site, subject to annual CPI-based adjustments. In addition, the Company also provides other fluid handling services. These operations, along with the Company’s fresh water delivery systems, support well completion and production operations for Antero Resources. These services are provided by the Company directly or through third-parties with which the Company contracts. For these other fluid handling services provided by third-parties, Antero Resources reimburses the Company’s third-party out-of-pocket costs plus . For these other fluid handling services provided by the Company, the Company charges Antero Resources a cost of service fee. The Company satisfies its performance obligations and recognizes revenue when (i) the fresh water volumes have been delivered to the hydration unit of a specified well pad or (ii) other fluid handling services have been completed . 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. Transaction Price Allocated to Remaining Performance Obligations The Company’s water service agreement with Antero Resources has a term greater than one year. 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 water 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 exempt from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of Contract Balances Under the Company’s water service contracts, the Company invoices customers after the performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s water service contracts do not give rise to contract assets or liabilities. (c) Disaggregation of Revenue In the following table, revenue is disaggregated by type of service and type of fee and is identified by the reportable segment to which such revenues relate. For more information on reportable segments, see Note 14—Reportable Segments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ ​ (in thousands) ​ 2021 ​ 2022 ​ 2021 ​ 2022 Reportable Segment ​ Type of service ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering—low pressure ​ $ 87,139 ​ ​ 92,091 ​ ​ 265,206 ​ ​ 273,188 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (36,000) ​ Gathering and Processing (1) ​ Compression ​ ​ 49,765 ​ ​ 52,364 ​ ​ 147,273 ​ ​ 155,462 ​ Gathering and Processing (1) ​ Gathering—high pressure ​ ​ 51,812 ​ ​ 53,185 ​ ​ 154,065 ​ ​ 159,504 ​ Gathering and Processing (1) ​ Fresh water delivery ​ ​ 33,004 ​ ​ 38,445 ​ ​ 108,113 ​ ​ 111,609 ​ Water Handling ​ Other fluid handling ​ ​ 20,752 ​ ​ 24,617 ​ ​ 60,059 ​ ​ 67,673 ​ Water Handling ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (9,271) ​ ​ (27,813) ​ ​ (27,814) ​ Gathering and Processing ​ Amortization of customer relationships ​ ​ (8,397) ​ ​ (8,397) ​ ​ (25,191) ​ ​ (25,190) ​ Water Handling ​ Total ​ $ 224,804 ​ ​ 231,034 ​ ​ 681,712 ​ ​ 678,432 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of contract ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit Fixed Fee ​ $ 188,716 ​ ​ 197,640 ​ ​ 566,544 ​ ​ 588,154 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (36,000) ​ Gathering and Processing (1) ​ Per Unit Fixed Fee ​ ​ 33,004 ​ ​ 38,921 ​ ​ 108,113 ​ ​ 112,722 ​ Water Handling ​ Cost plus 3% ​ ​ 16,952 ​ ​ 19,346 ​ ​ 48,727 ​ ​ 51,384 ​ Water Handling ​ Cost of service fee ​ ​ 3,800 ​ ​ 4,795 ​ ​ 11,332 ​ ​ 15,176 ​ Water Handling ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (9,271) ​ ​ (27,813) ​ ​ (27,814) ​ Gathering and Processing ​ Amortization of customer relationships ​ ​ (8,397) ​ ​ (8,397) ​ ​ (25,191) ​ ​ (25,190) ​ Water Handling ​ Total ​ $ 224,804 ​ ​ 231,034 ​ ​ 681,712 ​ ​ 678,432 ​ ​ ​ (1) Revenue related to the gathering and processing segment is classified as lease income related to the gathering system. ​ The Company’s receivables from its contracts with customers and operating leases as of December 31, 2021 and September 30, 2022, were $81 million and $79 million, respectively .

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2022
Property and Equipment
Property and Equipment	​ (6) Property and Equipment ​ (a) Summary of Property and Equipment Property and equipment, net consisted of the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ Estimated ​ December 31, ​ September 30, ​ (in thousands) Useful Lives 2021 ​ 2022 ​ Land n/a $ 23,369 ​ 26,682 ​ Gathering systems and facilities ​ 40-50 years (1) ​ ​ 2,817,918 ​ ​ 3,052,459 ​ Permanent buried pipelines and equipment ​ 7-20 years ​ ​ 582,481 ​ ​ 602,343 ​ Surface pipelines and equipment ​ 1-7 years ​ ​ 54,542 ​ ​ 67,520 ​ Heavy trucks and equipment ​ 3-5 years ​ ​ 5,157 ​ ​ 5,157 ​ Above ground storage tanks ​ 5-10 years ​ ​ 2,946 ​ ​ 2,953 ​ Construction-in-progress ​ n/a ​ 174,271 ​ ​ 114,582 ​ Total property and equipment ​ ​ ​ ​ 3,660,684 ​ ​ 3,871,696 ​ Less accumulated depreciation ​ ​ ​ ​ (265,938) ​ ​ (363,688) ​ Property and equipment, net ​ ​ ​ $ 3,394,746 ​ ​ 3,508,008 ​ (1) Gathering systems and facilities are recognized as a single-leased asset with no residual value. (b) Subsequent Event On October 25, 2022, the Company acquired certain Marcellus gas gathering and compression assets from Crestwood Equity Partners LP (NYSE: CEQP) for $205 million in cash, before closing adjustments, which was funded by borrowings under the Company’s Credit Facility (as defined in Note 7─Long-Term Debt). These assets include

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Long-Term Debt.
Long-Term Debt	(7) Long-Term Debt Long-term debt consisted of the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ (in thousands) ​ 2021 ​ 2022 ​ Credit Facility (a) $ 547,200 ​ 564,800 ​ 7.875% senior notes due 2026 (c) ​ ​ 550,000 ​ ​ 550,000 ​ 5.75% senior notes due 2027 (d) ​ ​ 650,000 ​ ​ 650,000 ​ 5.75% senior notes due 2028 (e) ​ ​ 650,000 ​ ​ 650,000 ​ 5.375% senior notes due 2029 (f) ​ ​ 750,000 ​ ​ 750,000 ​ Total principal ​ ​ 3,147,200 ​ ​ 3,164,800 ​ Unamortized debt premiums ​ ​ 2,106 ​ ​ 1,801 ​ Unamortized debt issuance costs ​ ​ (26,396) ​ ​ (23,432) ​ Total long-term debt ​ $ 3,122,910 ​ ​ 3,143,169 ​ ​ (a) Credit Facility Antero Midstream Partners LP (“Antero Midstream Partners”), an indirect, wholly owned subsidiary of Antero Midstream Corporation, as borrower (the “Borrower”), has a senior secured revolving credit facility with a consortium of banks. On October 26, 2021, the Company entered into an amended and restated senior secured revolving credit facility (the “Credit Facility”). As of December 31, 2021 and September 30, 2022, the Credit Facility had lender commitments of 2026; provided that if on November 17, 2025 any of the 2026 Notes (as defined below) are outstanding, the Credit Facility will mature on such date. As of September 30, 2022, the Credit Facility had an available borrowing capacity of $685 million. 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, provided that no event of default exists or would be caused thereby, and only to the extent permitted by the Borrower’s organizational documents. The Borrower was in compliance with all of the financial covenants under the Credit Facility as of December 31, 2021 and September 30, 2022. The senior secured revolving credit facility agreement in effect prior to October 26, 2021 provided for borrowing under either the Base Rate or the Eurodollar Rate (as each term is defined in the agreement), and the Credit Facility provides for borrowing under either Adjusted Term Secured Overnight Financing Rate (“SOFR”) or the Base Rate (as each term is defined in the Credit Facility). Principal amounts borrowed are payable on the maturity date with such borrowings bearing interest that is payable with respect to (i) base rate loans, quarterly and (ii) SOFR Loans at the end of the applicable interest period if three months (or shorter, if applicable), or every three months if the applicable interest period is longer than three months. Interest was 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 under the senior secured revolving credit facility agreement in effect prior to October 26, 2021. Interest is payable at a variable rate based on SOFR or the base rate, determined by election at the time of borrowing, plus an applicable margin rate under the Credit Facility. 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 As of December 31, 2021, the Borrower had outstanding borrowings under the Credit Facility of $547 million with a weighted average interest rate of 1.81 %. As of September 30, 2022, the Borrower had outstanding borrowings under the Credit Facility of million with a weighted average interest rate of %. (b) 5.375% Senior Notes Due 2024 On September 13, 2016, Antero Midstream Partners and its wholly owned subsidiary, Antero Midstream Finance Corporation (“Finance Corp” and 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 were recorded at their fair value of million was amortized into interest expense over the life of the 2024 Notes. The Issuers redeemed all (c) 7.875% Senior Notes Due 2026 On November 10, 2020, the Issuers issued $550 million in aggregate principal amount of 7.875% senior notes due May 15, 2026 (the “2026 Notes”) at par. The 2026 Notes are unsecured and effectively subordinated to the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The 2026 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 2026 Notes is payable on May 15 and November 15 of each year. Antero Midstream Partners may redeem all or part of the 2026 Notes at any time on or after May 15, 2023 at redemption prices ranging from on or after May 15, 2025. In addition, prior to May 15, 2023, Antero Midstream Partners may redeem up to of the principal amount of the 2026 Notes, plus accrued and unpaid interest. At any time prior to May 15, 2023, Antero Midstream Partners may also redeem the 2026 Notes, in whole or in part, at a price equal to of the principal amount of the 2026 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 2026 Notes will have the right to require Antero Midstream Partners to repurchase all or a portion of the 2026 Notes at a price equal to (d) 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 were recorded at their fair value of $653.3 million as of March 12, 2019, and the related premium of $3.3 million will be amortized into interest expense over the life of the 2027 Notes. 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% currently to 100.00% on or after March 1, 2025. 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. (e) 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. ​ (f) 5.375% Senior Notes Due 2029 On June 8, 2021, the Issuers issued $750 million in aggregate principal amount of 5.375% senior notes due June 15, 2029 (the “2029 Notes”) at par. The 2029 Notes are unsecured and effectively subordinated to the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The 2029 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 2029 Notes is payable on June 15 and December 15 of each year. Antero Midstream Partners may redeem all or part of the 2029 Notes at any time on or after June 15, 2024 at redemption prices ranging from on or after June 15, 2026. In addition, prior to June 15, 2024, Antero Midstream Partners may redeem up to of the principal amount of the 2029 Notes, plus accrued and unpaid interest. At any time prior to June 15, 2024, Antero Midstream Partners may also redeem the 2029 Notes, in whole or in part, at a price equal to of the principal amount of the 2029 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 2029 Notes will have the right to require Antero Midstream Partners to repurchase all or a portion of the 2029 Notes at a price equal to (g) Senior Notes Guarantors The Company and each of the Company’s wholly owned subsidiaries (except for the Issuers) has fully and unconditionally guaranteed the 2024 Notes, 2026 Notes, 2027 Notes, 2028 Notes and 2029 Notes (collectively the “Senior Notes”). In the event a guarantor is sold or disposed of (whether by merger, consolidation, the sale of a sufficient amount of its capital stock so that it no longer qualifies as a Restricted Subsidiary (as defined in the applicable indenture governing the series of Senior Notes) of the Issuer or the sale of all or substantially all of its assets) and whether or not the guarantor is the surviving entity in such transaction to a person that is not an Issuer or a Restricted Subsidiary of an Issuer, such guarantor will be released from its obligations under its guarantee if the sale or other disposition does not violate the covenants set forth in the indentures governing the applicable Senior Notes. ​ In addition, a guarantor will be released from its obligations under the applicable indenture and its guarantee, upon the release or discharge of the guarantee of other indebtedness under a credit facility that resulted in the creation of such guarantee, except a release or discharge by or as a result of payment under such guarantee; if the Issuers designate such subsidiary as an unrestricted subsidiary and such designation complies with the other applicable provisions of the indenture governing the applicable Senior Notes or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the applicable Senior Notes. ​ During the three and nine months ended September 30, 2021 and 2022, all of the Company’s assets and operations are attributable to the Issuers and its guarantors.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2022
Accrued Liabilities
Accrued Liabilities	(8) Accrued Liabilities Accrued liabilities consisted of the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ (in thousands) 2021 2022 Capital expenditures ​ $ 24,900 ​ ​ 19,465 ​ Operating expenses ​ ​ 10,417 ​ ​ 8,716 ​ Interest expense ​ ​ 36,794 ​ ​ 39,831 ​ Ad valorem taxes ​ ​ 5,400 ​ ​ 2,265 ​ Other ​ ​ 3,327 ​ ​ 2,675 ​ Total accrued liabilities ​ $ 80,838 ​ ​ 72,952 ​ ​

Equity-Based Compensation and C

Equity-Based Compensation and Cash Awards	9 Months Ended
	Sep. 30, 2022
Equity-Based Compensation and Cash Awards
Equity-Based Compensation and Cash Awards	(9) Equity-Based Compensation and Cash Awards (a) Summary of Equity-Based Compensation The Company’s equity-based compensation includes (i) costs allocated to Antero Midstream by Antero Resources for grants made prior to March 12, 2019 pursuant to the Antero Resources Corporation Long-Term Incentive Plan (the “AR LTIP”) and (ii) costs related to the Antero Midstream Corporation Long-Term Incentive Plan (the “AM LTIP”). Antero Midstream’s equity-based compensation expense is included in general and administrative expenses, and recorded as a credit to the applicable classes of equity. AR LTIP Equity-based compensation expense allocated to Antero Midstream from Antero Resources was $0.3 million and $0.1 million for the three months ended September 30, 2021 and 2022, respectively, and $1.8 million and $0.4 million for the nine months ended September 30, 2021 and 2022, respectively, which includes expense related to the Converted AM RSU Awards (as defined below). For grants made prior to March 12, 2019, Antero Resources has total unamortized expense related to its various equity-based compensation plans that can be allocated to the Company of less than 30, 2022, which includes the Converted AM RSU Awards (as defined below). A portion of this unamortized cost will be allocated to Antero Midstream as it is amortized over the remaining service period of the related awards. The Company does not reimburse Antero Resources for noncash equity compensation allocated to it for awards issued under the AR LTIP. 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 of Directors (the “Board”). As of September 30, 2022, a total of The Company’s equity-based compensation expense, by type of award, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ (in thousands) ​ 2021 ​ 2022 ​ 2021 ​ 2022 ​ Restricted stock units (1) ​ $ 2,905 ​ ​ 4,525 ​ ​ 8,608 ​ ​ 11,438 ​ Performance share units (1) ​ ​ 123 ​ ​ 833 ​ ​ 1,036 ​ ​ 1,938 ​ Equity awards issued to directors ​ ​ 227 ​ ​ 195 ​ ​ 682 ​ ​ 650 ​ Total expense ​ $ 3,255 ​ ​ 5,553 ​ ​ 10,326 ​ ​ 14,026 ​ (1) Amounts include equity-based compensation expense allocated to the Company by Antero Resources. ​ (b) Restricted Stock Unit Awards As of March 19, 2019, each of the unvested outstanding phantom units granted under the Antero Midstream Partners Long Term Incentive Plan was assumed by the Company and converted into 1.8926 RSUs under the AM LTIP representing a right to receive shares of the Company’s common stock for each converted phantom unit (all such RSUs, the “Converted AM RSU Awards”). The Converted AM RSU Awards are accounted for as if they are distributed by Antero Midstream Partners to Antero Resources. Therefore, the expense related to the Converted AM RSU Awards is subject to allocation by Antero Resources. A summary of the RSU awards activity, which includes the Converted AM RSU Awards, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value ​ Total AM LTIP RSUs awarded and unvested—December 31, 2021 ​ 3,573,377 ​ $ 8.11 ​ Granted ​ 2,750,896 ​ ​ 11.28 ​ Vested ​ (1,243,878) ​ ​ 8.40 ​ Forfeited ​ (159,119) ​ ​ 9.37 ​ Total AM LTIP RSUs awarded and unvested—September 30, 2022 ​ 4,921,276 ​ $ 9.77 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022, unamortized expense of $39.2 million related to the unvested RSUs, which includes less than $0.1 million related to the Converted AM RSU Awards, is expected to be recognized over a weighted average period of approximately 2.4 years. The Company’s proportionate share of the Converted AM RSU Awards will be allocated to it as it is recognized. (c) Performance Share Unit Awards 2019 Performance Share Unit Awards In 2019, the Company granted performance share units (“PSUs”) to certain of its employees and executive officers that vest based on the Company’s actual return on invested capital (“ROIC”) (as defined in the award agreement) over a three-year period as compared to a targeted ROIC (“2019 ROIC PSUs”). The number of shares of the Company’s common stock that could be earned with respect to the 2019 ROIC PSUs ranged from of the target number of 2019 ROIC PSUs originally granted. During the second quarter of 2022, the performance condition for the 2019 ROIC PSUs was met at shares of the Company’s common stock. As of September 30, 2022, there were 2022 Performance Share Unit Awards In April 2022, the Company granted PSUs to certain of its executive officers that vest based on the Company’s actual ROIC (as defined in the award agreement) over a three-year period concluding on December 31, 2024 as compared to a targeted ROIC (“2022 ROIC PSUs”). The number of shares of the Company’s common stock that can be earned with respect to the 2022 ROIC PSUs ranges from of the target number of 2022 ROIC PSUs originally granted. The grant date fair value of these awards was based on the closing price of the Company’s common stock on the date of the grant, assuming target achievement of the performance condition. Expense related to the 2022 ROIC PSUs is recognized based on the number of shares of the Company’s common stock that are expected to be issued at the end of the measurement period, and such expense is reversed if the likelihood of achieving the performance condition decreases. The likelihood of achieving the performance conditions related to 2022 ROIC PSU awards was probable as of September 30, 2022. Summary Information for Performance Share Unit Awards A summary of the PSU awards activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value ​ Total AM LTIP PSUs awarded and unvested—December 31, 2021 ​ 116,526 ​ $ 6.32 ​ Granted ​ 461,121 ​ ​ 11.05 ​ Vested (1) ​ (137,712) ​ ​ 6.32 ​ Forfeited ​ — ​ ​ — ​ Total AM LTIP PSUs awarded and unvested—September 30, 2022 ​ 439,935 ​ $ 11.28 ​ (1) The performance condition for these vested PSUs was met at 200% of target and as such, they converted into 275,424 shares of the Company’s common stock during the second quarter of 2022. ​ As of September 30, 2022, unamortized expense of $8.4 million related to unvested PSUs is expected to be recognized over a weighted average period of approximately 2.5 years. (d) 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 . In July 2020, the Company granted additional cash awards of . The compensation expense for these awards is recognized ratably over the applicable vesting period. As of December 31, 2021 and September 30, 2022, the Company has recorded

Cash Dividends

Cash Dividends	9 Months Ended
	Sep. 30, 2022
Cash Dividends
Cash Dividends	​ ​ (10) Cash Dividends The Company paid cash dividends for the quarter indicated as follows (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends ​ Period Record Date Dividend Date Dividends per Share ​ Q4 2020 ​ February 3, 2021 ​ February 11, 2021 ​ $ 147,194 ​ $ 0.3075 ​ * ​ February 16, 2021 ​ February 16, 2021 ​ ​ 138 ​ ​ * ​ Q1 2021 ​ April 28, 2021 ​ May 12, 2021 ​ ​ 108,799 ​ ​ 0.2250 ​ * ​ May 17, 2021 ​ May 17, 2021 ​ ​ 137 ​ ​ * ​ Q2 2021 ​ July 28, 2021 ​ August 11, 2021 ​ ​ 107,719 ​ ​ 0.2250 ​ * ​ August 16, 2021 ​ August 16, 2021 ​ ​ 138 ​ ​ * ​ Q3 2021 ​ October 27, 2021 ​ November 10, 2021 ​ ​ 107,459 ​ ​ 0.2250 ​ * ​ November 15, 2021 ​ November 15, 2021 ​ ​ 137 ​ ​ * ​ ​ ​ Total 2021 ​ ​ ​ $ 471,721 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Q4 2021 ​ January 26, 2022 ​ February 9, 2022 ​ $ 108,149 ​ $ 0.2250 ​ * ​ February 14, 2022 ​ February 14, 2022 ​ ​ 138 ​ ​ * ​ Q1 2022 ​ April 27, 2022 ​ May 11, 2022 ​ ​ 109,296 ​ ​ 0.2250 ​ * ​ May 16, 2022 ​ May 16, 2022 ​ ​ 137 ​ ​ * ​ Q2 2022 ​ July 27, 2022 ​ August 10, 2022 ​ ​ 107,675 ​ ​ 0.2250 ​ * ​ August 15, 2022 ​ August 15, 2022 ​ ​ 138 ​ ​ * ​ ​ ​ Total 2022 ​ ​ ​ $ 325,533 ​ ​ ​ ​ * Dividends are paid in accordance with the terms of the Series A Preferred Stock (as defined below) as discussed in Note 11—Equity and Earnings Per Common Share . ​ On October 12, 2022, the Board announced the declaration of a cash dividend on the shares of AM common stock of $0.2250 per share for the quarter ended September 30, 2022. The dividend will be payable on November 9, 2022 to stockholders of record as of October 26, 2022. The Board also declared a cash dividend of $138 thousand on the shares of Series A Preferred Stock of Antero Midstream to be paid on November 14, 2022 in accordance with the terms of the Series A Preferred Stock, which are discussed in Note 11—Equity and Earnings Per Common Share. As of September 30, 2022, 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	9 Months Ended
	Sep. 30, 2022
Equity and Earnings Per Common Share
Equity and Earnings Per Common Share	(11) Equity and Earnings Per Common Share (a) Preferred Stock The Board authorized 100,000,000 shares of preferred stock 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 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ (in thousands) 2021 2022 2021 2022 ​ Basic weighted average number of shares outstanding ​ ​ 477,442 ​ ​ 478,460 ​ ​ 477,196 ​ ​ 478,144 ​ Add: Dilutive effect of RSUs ​ ​ 1,093 ​ ​ 769 ​ ​ 1,113 ​ ​ 1,003 ​ Add: Dilutive effect of PSUs ​ ​ 200 ​ ​ — ​ ​ 232 ​ ​ 106 ​ Add: Dilutive effect of Series A Preferred Stock ​ ​ 960 ​ ​ 1,089 ​ ​ 960 ​ ​ 1,089 ​ Diluted weighted average number of shares outstanding ​ ​ 479,695 ​ ​ 480,318 ​ ​ 479,501 ​ ​ 480,342 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ 235 ​ ​ 2,685 ​ ​ 283 ​ ​ 1,662 ​ PSUs ​ ​ — ​ ​ 880 ​ ​ — ​ ​ 545 ​ (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 the net income or loss attributable to the Company by the basic weighted average number of shares 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 ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ (in thousands, except per share amounts) 2021 2022 2021 2022 ​ Net income ​ $ 89,327 ​ ​ 84,014 ​ ​ 252,991 ​ ​ 243,449 ​ Less preferred stock dividends ​ ​ (138) ​ ​ (138) ​ ​ (413) ​ ​ (413) ​ Net income available to common shareholders ​ $ 89,189 ​ ​ 83,876 ​ ​ 252,578 ​ ​ 243,036 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per share–basic ​ $ 0.19 ​ ​ 0.18 ​ ​ 0.53 ​ ​ 0.51 ​ Net income per share–diluted ​ $ 0.19 ​ ​ 0.17 ​ ​ 0.53 ​ ​ 0.51 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding–basic ​ ​ 477,442 ​ ​ 478,460 ​ ​ 477,196 ​ ​ 478,144 ​ Weighted average common shares outstanding–diluted ​ ​ 479,695 ​ ​ 480,318 ​ ​ 479,501 ​ ​ 480,342 ​ ​

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2022
Fair Value Measurement
Fair Value Measurement	​ ​ (12) Fair Value Measurement (a) Senior Unsecured Notes The fair value and carrying value of the Company’s Senior Notes is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, 2021 ​ September 30, 2022 ​ (in thousands) ​ Fair Value (1) ​ Carrying Value (2) ​ Fair Value (1) ​ Carrying Value (2) ​ 2026 Notes ​ $ 604,450 ​ ​ 544,294 ​ ​ 551,430 ​ ​ 545,128 ​ 2027 Notes ​ ​ 672,750 ​ ​ 645,970 ​ ​ 601,120 ​ ​ 646,444 ​ 2028 Notes ​ ​ 680,225 ​ ​ 643,902 ​ ​ 591,500 ​ ​ 644,554 ​ 2029 Notes ​ ​ 783,750 ​ ​ 741,544 ​ ​ 657,375 ​ ​ 742,243 ​ Total ​ $ 2,741,175 ​ ​ 2,575,710 ​ ​ 2,401,425 ​ ​ 2,578,369 ​ (1) Fair values are based on Level 2 market data inputs. (2) Carrying values are presented net of unamortized debt issuance costs and debt premiums. (b) Other Assets and Liabilities The carrying values of accounts receivable and accounts payable as of December 31, 2021 and September 30, 2022 approximated fair value because of their short-term nature. The carrying value of the amounts under the Credit Facility as of December 31, 2021 and September 30, 2022 approximated fair value because the variable interest rates are reflective of current market conditions.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	9 Months Ended
	Sep. 30, 2022
Investments in Unconsolidated Affiliates
Investments in Unconsolidated Affiliates	(13) Investments in Unconsolidated Affiliates 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 to develop processing and fractionation assets with MarkWest Energy Partners, L.P. (“MarkWest”), a wholly owned subsidiary of MPLX, LP (the “Joint Venture”). 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 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 condensed consolidated balance sheet and are classified as cash inflows from operating activities in accordance with the nature of the distribution approach under FASB ASC Topic 230, Statement of Cash Flows . 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Investment ​ ​ ​ ​ ​ MarkWest ​ in Unconsolidated ​ (in thousands) Stonewall ​ Joint Venture Affiliates ​ Balance as of December 31, 2021 ​ $ 130,572 ​ ​ 565,437 ​ ​ 696,009 ​ Equity in earnings of unconsolidated affiliates (1) ​ ​ 5,367 ​ ​ 65,100 ​ ​ 70,467 ​ Distributions from unconsolidated affiliates ​ ​ (9,000) ​ ​ (81,470) ​ ​ (90,470) ​ Return of investment in unconsolidated affiliate ​ ​ — ​ ​ (17,000) ​ ​ (17,000) ​ Balance as of September 30, 2022 ​ $ 126,939 ​ ​ 532,067 ​ ​ 659,006 ​ (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 March 12, 2019.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2022
Reportable Segments
Reportable Segments	(14) Reportable Segments (a) Summary of Reportable Segments The Company’s operations, which are located in the United States, are organized into two reportable segments: (i) gathering and processing and (ii) water handling. 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. 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 water from sources including the Ohio River, local reservoirs and several regional waterways. Portions of these water handling systems are also utilized to transport flowback and produced water. The water handling systems consist of permanent buried pipelines, surface pipelines and water storage facilities, as well as pumping stations, blending facilities and impoundments to transport water throughout the systems used to deliver water for Antero Resources’ well completions. ​ (b) Reportable Segments Financial Information The summarized operating results of the Company’s reportable segments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2021 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 188,716 ​ ​ 53,511 ​ ​ — ​ ​ 242,227 ​ Revenue–third-party ​ ​ — ​ ​ 245 ​ ​ — ​ ​ 245 ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (8,397) ​ ​ — ​ ​ (17,668) ​ Total revenues ​ ​ 179,445 ​ ​ 45,359 ​ ​ — ​ ​ 224,804 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 16,161 ​ ​ 23,338 ​ ​ — ​ ​ 39,499 ​ General and administrative ​ ​ 9,076 ​ ​ 4,554 ​ ​ 1,180 ​ ​ 14,810 ​ Facility idling ​ ​ — ​ ​ 870 ​ ​ — ​ ​ 870 ​ Depreciation ​ ​ 15,151 ​ ​ 12,336 ​ ​ — ​ ​ 27,487 ​ Impairment of property and equipment ​ ​ — ​ ​ 203 ​ ​ — ​ ​ 203 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 114 ​ ​ — ​ ​ 114 ​ Total operating expenses ​ ​ 40,388 ​ ​ 41,415 ​ ​ 1,180 ​ ​ 82,983 ​ Operating income ​ $ 139,057 ​ ​ 3,944 ​ ​ (1,180) ​ ​ 141,821 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 24,088 ​ ​ — ​ ​ — ​ ​ 24,088 ​ Additions to property and equipment ​ $ 69,069 ​ ​ 13,514 ​ ​ — ​ ​ 82,583 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2022 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 185,640 ​ ​ 61,411 ​ ​ — ​ ​ 247,051 ​ Revenue–third-party ​ ​ — ​ ​ 1,651 ​ ​ — ​ ​ 1,651 ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (8,397) ​ ​ — ​ ​ (17,668) ​ Total revenues ​ ​ 176,369 ​ ​ 54,665 ​ ​ — ​ ​ 231,034 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 19,813 ​ ​ 26,835 ​ ​ — ​ ​ 46,648 ​ General and administrative ​ ​ 9,890 ​ ​ 2,425 ​ ​ 1,272 ​ ​ 13,587 ​ Facility idling ​ ​ — ​ ​ 865 ​ ​ — ​ ​ 865 ​ Depreciation ​ ​ 21,177 ​ ​ 13,029 ​ ​ — ​ ​ 34,206 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 50 ​ ​ — ​ ​ 50 ​ Gain on asset sale ​ ​ (2,056) ​ ​ (36) ​ ​ — ​ ​ (2,092) ​ Total operating expenses ​ ​ 48,824 ​ ​ 43,168 ​ ​ 1,272 ​ ​ 93,264 ​ Operating income ​ $ 127,545 ​ ​ 11,497 ​ ​ (1,272) ​ ​ 137,770 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 24,411 ​ ​ — ​ ​ — ​ ​ 24,411 ​ Additions to property and equipment, net ​ $ 58,742 ​ ​ 15,378 ​ ​ — ​ ​ 74,120 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 566,544 ​ ​ 167,832 ​ ​ — ​ ​ 734,376 ​ Revenue–third-party ​ ​ — ​ ​ 340 ​ ​ — ​ ​ 340 ​ Amortization of customer relationships ​ ​ (27,813) ​ ​ (25,191) ​ ​ — ​ ​ (53,004) ​ Total revenues ​ ​ 538,731 ​ ​ 142,981 ​ ​ — ​ ​ 681,712 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 50,409 ​ ​ 67,959 ​ ​ — ​ ​ 118,368 ​ General and administrative ​ ​ 26,459 ​ ​ 17,107 ​ ​ 3,425 ​ ​ 46,991 ​ Facility idling ​ ​ — ​ ​ 3,033 ​ ​ — ​ ​ 3,033 ​ Depreciation ​ ​ 44,268 ​ ​ 36,688 ​ ​ — ​ ​ 80,956 ​ Impairment of property and equipment ​ ​ 1,218 ​ ​ 364 ​ ​ — ​ ​ 1,582 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 347 ​ ​ — ​ ​ 347 ​ Loss on asset sale ​ ​ 3,628 ​ ​ — ​ ​ — ​ ​ 3,628 ​ Total operating expenses ​ ​ 125,982 ​ ​ 125,498 ​ ​ 3,425 ​ ​ 254,905 ​ Operating income ​ $ 412,749 ​ ​ 17,483 ​ ​ (3,425) ​ ​ 426,807 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 66,347 ​ ​ — ​ ​ — ​ ​ 66,347 ​ Additions to property and equipment ​ $ 120,727 ​ ​ 36,221 ​ ​ — ​ ​ 156,948 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2022 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 552,154 ​ ​ 176,994 ​ ​ — ​ ​ 729,148 ​ Revenue–third-party ​ ​ — ​ ​ 2,288 ​ ​ — ​ ​ 2,288 ​ Amortization of customer relationships ​ ​ (27,814) ​ ​ (25,190) ​ ​ — ​ ​ (53,004) ​ Total revenues ​ ​ 524,340 ​ ​ 154,092 ​ ​ — ​ ​ 678,432 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 56,338 ​ ​ 75,621 ​ ​ — ​ ​ 131,959 ​ General and administrative ​ ​ 30,081 ​ ​ 13,015 ​ ​ 4,501 ​ ​ 47,597 ​ Facility idling ​ ​ — ​ ​ 3,198 ​ ​ — ​ ​ 3,198 ​ Depreciation ​ ​ 59,838 ​ ​ 38,343 ​ ​ — ​ ​ 98,181 ​ Impairment of property and equipment ​ ​ 1,130 ​ ​ 2,572 ​ ​ — ​ ​ 3,702 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 178 ​ ​ — ​ ​ 178 ​ Loss on settlement of asset retirement obligations ​ ​ — ​ ​ 539 ​ ​ — ​ ​ 539 ​ Gain on asset sale ​ ​ (2,119) ​ ​ (123) ​ ​ — ​ ​ (2,242) ​ Total operating expenses ​ ​ 145,268 ​ ​ 133,343 ​ ​ 4,501 ​ ​ 283,112 ​ Operating income ​ $ 379,072 ​ ​ 20,749 ​ ​ (4,501) ​ ​ 395,320 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 70,467 ​ ​ — ​ ​ — ​ ​ 70,467 ​ Additions to property and equipment, net ​ $ 190,407 ​ ​ 45,747 ​ ​ — ​ ​ 236,154 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ The summarized total assets of the Company’s reportable segments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ (in thousands) ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2022 ​ Gathering and Processing ​ ​ ​ ​ ​ ​ ​ $ 4,450,939 ​ ​ 4,489,750 ​ Water Handling ​ ​ ​ ​ ​ ​ ​ ​ 1,092,122 ​ ​ 1,073,000 ​ Unallocated (1) ​ ​ ​ ​ ​ ​ ​ ​ 940 ​ ​ 1,071 ​ Total assets ​ ​ ​ ​ ​ ​ ​ $ 5,544,001 ​ ​ 5,563,821 ​ (1) Certain assets 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)	9 Months Ended
	Sep. 30, 2022
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, 2021 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, 2021 consolidated financial statements were included in the Company’s 2021 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, 2021 and September 30, 2022, the results of the Company’s operations for the three and nine months ended September 30, 2021 and 2022, and the Company’s cash flows for the nine months ended September 30, 2021 and 2022. The Company has no items of other comprehensive income; therefore, net income is equal to comprehensive income. 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 4—Transactions with Affiliates).
Principles of Consolidation	(b) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Antero Midstream Corporation and its consolidated subsidiaries. All significant intercompany accounts and transactions have been eliminated in the Company’s unaudited condensed consolidated financial statements.
Dividends	(c) Dividends Preferred and common dividends declared are recorded as a reduction of retained earnings to the extent that retained earnings were available at the close of the quarter prior to the dividend declaration date, with any excess recorded as a reduction of additional paid-in capital.
Recently Adopted Accounting Standard	(d) Recently Adopted Accounting Standard In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Simplifying the Accounting for Income Taxes Income Taxes (“ASC 740”), and also simplifies portions of ASC 740 by clarifying and amending existing guidance. It is effective for interim and annual reporting periods after December 15, 2020. The Company adopted this ASU on January 1, 2021, and it did not have a material impact on the Company's consolidated financial statements

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Sep. 30, 2022
Intangibles
Schedule of changes in carrying amount of customer relationships	The changes in the carrying amount of customer relationships were as follows (in thousands): ​ ​ ​ ​ ​ ​ Customer relationships as of December 31, 2021 ​ $ 1,356,775 ​ Amortization of customer relationships ​ ​ (53,004) ​ Customer relationships as of September 30, 2022 ​ $ 1,303,771 ​
Schedule of future amortization expense	Future amortization expense is as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2022 ​ $ 17,668 ​ Year ending December 31, 2023 ​ ​ 70,672 ​ Year ending December 31, 2024 ​ ​ 70,672 ​ Year ending December 31, 2025 ​ ​ 70,672 ​ Year ending December 31, 2026 ​ ​ 70,672 ​ Thereafter ​ ​ 1,003,415 ​ Total ​ $ 1,303,771 ​

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue
Schedule of minimum future lease cash flows to be received by the Company under the gathering and compression agreement	Minimum future lease cash flows to be received by the Company under the gathering and compression agreement as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ Remainder of year ending December 31, 2022 ​ $ 45,492 ​ Year ending December 31, 2023 ​ ​ 298,655 ​ Year ending December 31, 2024 ​ ​ 299,473 ​ Year ending December 31, 2025 ​ ​ 285,175 ​ Year ending December 31, 2026 ​ ​ 271,762 ​ Thereafter ​ ​ 562,414 ​ Total ​ $ 1,762,971 ​
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ ​ (in thousands) ​ 2021 ​ 2022 ​ 2021 ​ 2022 Reportable Segment ​ Type of service ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gathering—low pressure ​ $ 87,139 ​ ​ 92,091 ​ ​ 265,206 ​ ​ 273,188 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (36,000) ​ Gathering and Processing (1) ​ Compression ​ ​ 49,765 ​ ​ 52,364 ​ ​ 147,273 ​ ​ 155,462 ​ Gathering and Processing (1) ​ Gathering—high pressure ​ ​ 51,812 ​ ​ 53,185 ​ ​ 154,065 ​ ​ 159,504 ​ Gathering and Processing (1) ​ Fresh water delivery ​ ​ 33,004 ​ ​ 38,445 ​ ​ 108,113 ​ ​ 111,609 ​ Water Handling ​ Other fluid handling ​ ​ 20,752 ​ ​ 24,617 ​ ​ 60,059 ​ ​ 67,673 ​ Water Handling ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (9,271) ​ ​ (27,813) ​ ​ (27,814) ​ Gathering and Processing ​ Amortization of customer relationships ​ ​ (8,397) ​ ​ (8,397) ​ ​ (25,191) ​ ​ (25,190) ​ Water Handling ​ Total ​ $ 224,804 ​ ​ 231,034 ​ ​ 681,712 ​ ​ 678,432 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of contract ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit Fixed Fee ​ $ 188,716 ​ ​ 197,640 ​ ​ 566,544 ​ ​ 588,154 ​ Gathering and Processing (1) ​ Gathering—low pressure rebate ​ ​ — ​ ​ (12,000) ​ ​ — ​ ​ (36,000) ​ Gathering and Processing (1) ​ Per Unit Fixed Fee ​ ​ 33,004 ​ ​ 38,921 ​ ​ 108,113 ​ ​ 112,722 ​ Water Handling ​ Cost plus 3% ​ ​ 16,952 ​ ​ 19,346 ​ ​ 48,727 ​ ​ 51,384 ​ Water Handling ​ Cost of service fee ​ ​ 3,800 ​ ​ 4,795 ​ ​ 11,332 ​ ​ 15,176 ​ Water Handling ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (9,271) ​ ​ (27,813) ​ ​ (27,814) ​ Gathering and Processing ​ Amortization of customer relationships ​ ​ (8,397) ​ ​ (8,397) ​ ​ (25,191) ​ ​ (25,190) ​ Water Handling ​ Total ​ $ 224,804 ​ ​ 231,034 ​ ​ 681,712 ​ ​ 678,432 ​ ​ ​ (1) Revenue related to the gathering and processing segment is classified as lease income related to the gathering system.

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property and Equipment
Schedule of property and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ Estimated ​ December 31, ​ September 30, ​ (in thousands) Useful Lives 2021 ​ 2022 ​ Land n/a $ 23,369 ​ 26,682 ​ Gathering systems and facilities ​ 40-50 years (1) ​ ​ 2,817,918 ​ ​ 3,052,459 ​ Permanent buried pipelines and equipment ​ 7-20 years ​ ​ 582,481 ​ ​ 602,343 ​ Surface pipelines and equipment ​ 1-7 years ​ ​ 54,542 ​ ​ 67,520 ​ Heavy trucks and equipment ​ 3-5 years ​ ​ 5,157 ​ ​ 5,157 ​ Above ground storage tanks ​ 5-10 years ​ ​ 2,946 ​ ​ 2,953 ​ Construction-in-progress ​ n/a ​ 174,271 ​ ​ 114,582 ​ Total property and equipment ​ ​ ​ ​ 3,660,684 ​ ​ 3,871,696 ​ Less accumulated depreciation ​ ​ ​ ​ (265,938) ​ ​ (363,688) ​ Property and equipment, net ​ ​ ​ $ 3,394,746 ​ ​ 3,508,008 ​ (1) Gathering systems and facilities are recognized as a single-leased asset with no residual value.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Long-Term Debt.
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ (in thousands) ​ 2021 ​ 2022 ​ Credit Facility (a) $ 547,200 ​ 564,800 ​ 7.875% senior notes due 2026 (c) ​ ​ 550,000 ​ ​ 550,000 ​ 5.75% senior notes due 2027 (d) ​ ​ 650,000 ​ ​ 650,000 ​ 5.75% senior notes due 2028 (e) ​ ​ 650,000 ​ ​ 650,000 ​ 5.375% senior notes due 2029 (f) ​ ​ 750,000 ​ ​ 750,000 ​ Total principal ​ ​ 3,147,200 ​ ​ 3,164,800 ​ Unamortized debt premiums ​ ​ 2,106 ​ ​ 1,801 ​ Unamortized debt issuance costs ​ ​ (26,396) ​ ​ (23,432) ​ Total long-term debt ​ $ 3,122,910 ​ ​ 3,143,169 ​

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities consisted of the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, ​ September 30, ​ (in thousands) 2021 2022 Capital expenditures ​ $ 24,900 ​ ​ 19,465 ​ Operating expenses ​ ​ 10,417 ​ ​ 8,716 ​ Interest expense ​ ​ 36,794 ​ ​ 39,831 ​ Ad valorem taxes ​ ​ 5,400 ​ ​ 2,265 ​ Other ​ ​ 3,327 ​ ​ 2,675 ​ Total accrued liabilities ​ $ 80,838 ​ ​ 72,952 ​

Equity-Based Compensation and_2

Equity-Based Compensation and Cash Awards (Tables)	9 Months Ended
	Sep. 30, 2022
Schedule of equity based compensation by type of award	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ (in thousands) ​ 2021 ​ 2022 ​ 2021 ​ 2022 ​ Restricted stock units (1) ​ $ 2,905 ​ ​ 4,525 ​ ​ 8,608 ​ ​ 11,438 ​ Performance share units (1) ​ ​ 123 ​ ​ 833 ​ ​ 1,036 ​ ​ 1,938 ​ Equity awards issued to directors ​ ​ 227 ​ ​ 195 ​ ​ 682 ​ ​ 650 ​ Total expense ​ $ 3,255 ​ ​ 5,553 ​ ​ 10,326 ​ ​ 14,026 ​ (1) Amounts include equity-based compensation expense allocated to the Company by Antero Resources.
Summary of RSU awards activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value ​ Total AM LTIP RSUs awarded and unvested—December 31, 2021 ​ 3,573,377 ​ $ 8.11 ​ Granted ​ 2,750,896 ​ ​ 11.28 ​ Vested ​ (1,243,878) ​ ​ 8.40 ​ Forfeited ​ (159,119) ​ ​ 9.37 ​ Total AM LTIP RSUs awarded and unvested—September 30, 2022 ​ 4,921,276 ​ $ 9.77 ​ ​ ​ ​ ​ ​ ​ ​
ROIC PSUs
Summary of PSU awards activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number ​ Grant Date ​ ​ of Units Fair Value ​ Total AM LTIP PSUs awarded and unvested—December 31, 2021 ​ 116,526 ​ $ 6.32 ​ Granted ​ 461,121 ​ ​ 11.05 ​ Vested (1) ​ (137,712) ​ ​ 6.32 ​ Forfeited ​ — ​ ​ — ​ Total AM LTIP PSUs awarded and unvested—September 30, 2022 ​ 439,935 ​ $ 11.28 ​ (1) The performance condition for these vested PSUs was met at 200% of target and as such, they converted into 275,424 shares of the Company’s common stock during the second quarter of 2022. ​

Cash Dividends (Tables)

Cash Dividends (Tables)	9 Months Ended
	Sep. 30, 2022
Cash Dividends
Schedule of quarterly distributions and dividends paid	The Company paid cash dividends for the quarter indicated as follows (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends ​ Period Record Date Dividend Date Dividends per Share ​ Q4 2020 ​ February 3, 2021 ​ February 11, 2021 ​ $ 147,194 ​ $ 0.3075 ​ * ​ February 16, 2021 ​ February 16, 2021 ​ ​ 138 ​ ​ * ​ Q1 2021 ​ April 28, 2021 ​ May 12, 2021 ​ ​ 108,799 ​ ​ 0.2250 ​ * ​ May 17, 2021 ​ May 17, 2021 ​ ​ 137 ​ ​ * ​ Q2 2021 ​ July 28, 2021 ​ August 11, 2021 ​ ​ 107,719 ​ ​ 0.2250 ​ * ​ August 16, 2021 ​ August 16, 2021 ​ ​ 138 ​ ​ * ​ Q3 2021 ​ October 27, 2021 ​ November 10, 2021 ​ ​ 107,459 ​ ​ 0.2250 ​ * ​ November 15, 2021 ​ November 15, 2021 ​ ​ 137 ​ ​ * ​ ​ ​ Total 2021 ​ ​ ​ $ 471,721 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Q4 2021 ​ January 26, 2022 ​ February 9, 2022 ​ $ 108,149 ​ $ 0.2250 ​ * ​ February 14, 2022 ​ February 14, 2022 ​ ​ 138 ​ ​ * ​ Q1 2022 ​ April 27, 2022 ​ May 11, 2022 ​ ​ 109,296 ​ ​ 0.2250 ​ * ​ May 16, 2022 ​ May 16, 2022 ​ ​ 137 ​ ​ * ​ Q2 2022 ​ July 27, 2022 ​ August 10, 2022 ​ ​ 107,675 ​ ​ 0.2250 ​ * ​ August 15, 2022 ​ August 15, 2022 ​ ​ 138 ​ ​ * ​ ​ ​ Total 2022 ​ ​ ​ $ 325,533 ​ ​ ​ ​ * Dividends are paid in accordance with the terms of the Series A Preferred Stock (as defined below) as discussed in Note 11—Equity and Earnings Per Common Share . ​

Equity and Earnings Per Commo_2

Equity and Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
Equity and Earnings Per Common Share
Schedule of weighted average shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ (in thousands) 2021 2022 2021 2022 ​ Basic weighted average number of shares outstanding ​ ​ 477,442 ​ ​ 478,460 ​ ​ 477,196 ​ ​ 478,144 ​ Add: Dilutive effect of RSUs ​ ​ 1,093 ​ ​ 769 ​ ​ 1,113 ​ ​ 1,003 ​ Add: Dilutive effect of PSUs ​ ​ 200 ​ ​ — ​ ​ 232 ​ ​ 106 ​ Add: Dilutive effect of Series A Preferred Stock ​ ​ 960 ​ ​ 1,089 ​ ​ 960 ​ ​ 1,089 ​ Diluted weighted average number of shares outstanding ​ ​ 479,695 ​ ​ 480,318 ​ ​ 479,501 ​ ​ 480,342 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ 235 ​ ​ 2,685 ​ ​ 283 ​ ​ 1,662 ​ PSUs ​ ​ — ​ ​ 880 ​ ​ — ​ ​ 545 ​ (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 ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ (in thousands, except per share amounts) 2021 2022 2021 2022 ​ Net income ​ $ 89,327 ​ ​ 84,014 ​ ​ 252,991 ​ ​ 243,449 ​ Less preferred stock dividends ​ ​ (138) ​ ​ (138) ​ ​ (413) ​ ​ (413) ​ Net income available to common shareholders ​ $ 89,189 ​ ​ 83,876 ​ ​ 252,578 ​ ​ 243,036 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per share–basic ​ $ 0.19 ​ ​ 0.18 ​ ​ 0.53 ​ ​ 0.51 ​ Net income per share–diluted ​ $ 0.19 ​ ​ 0.17 ​ ​ 0.53 ​ ​ 0.51 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding–basic ​ ​ 477,442 ​ ​ 478,460 ​ ​ 477,196 ​ ​ 478,144 ​ Weighted average common shares outstanding–diluted ​ ​ 479,695 ​ ​ 480,318 ​ ​ 479,501 ​ ​ 480,342 ​

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Measurement
Schedule of fair value and carrying value of Senior Notes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ December 31, 2021 ​ September 30, 2022 ​ (in thousands) ​ Fair Value (1) ​ Carrying Value (2) ​ Fair Value (1) ​ Carrying Value (2) ​ 2026 Notes ​ $ 604,450 ​ ​ 544,294 ​ ​ 551,430 ​ ​ 545,128 ​ 2027 Notes ​ ​ 672,750 ​ ​ 645,970 ​ ​ 601,120 ​ ​ 646,444 ​ 2028 Notes ​ ​ 680,225 ​ ​ 643,902 ​ ​ 591,500 ​ ​ 644,554 ​ 2029 Notes ​ ​ 783,750 ​ ​ 741,544 ​ ​ 657,375 ​ ​ 742,243 ​ Total ​ $ 2,741,175 ​ ​ 2,575,710 ​ ​ 2,401,425 ​ ​ 2,578,369 ​ (1) Fair values are based on Level 2 market data inputs. (2) Carrying values are presented net of unamortized debt issuance costs and debt premiums.

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2022
Investments in Unconsolidated Affiliates
Schedule of reconciliation of investments in unconsolidated affiliates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Investment ​ ​ ​ ​ ​ MarkWest ​ in Unconsolidated ​ (in thousands) Stonewall ​ Joint Venture Affiliates ​ Balance as of December 31, 2021 ​ $ 130,572 ​ ​ 565,437 ​ ​ 696,009 ​ Equity in earnings of unconsolidated affiliates (1) ​ ​ 5,367 ​ ​ 65,100 ​ ​ 70,467 ​ Distributions from unconsolidated affiliates ​ ​ (9,000) ​ ​ (81,470) ​ ​ (90,470) ​ Return of investment in unconsolidated affiliate ​ ​ — ​ ​ (17,000) ​ ​ (17,000) ​ Balance as of September 30, 2022 ​ $ 126,939 ​ ​ 532,067 ​ ​ 659,006 ​ (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 March 12, 2019.

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2022
Reportable Segments
Schedule of operating results and assets of the Company's reportable segments	The summarized operating results of the Company’s reportable segments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2021 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 188,716 ​ ​ 53,511 ​ ​ — ​ ​ 242,227 ​ Revenue–third-party ​ ​ — ​ ​ 245 ​ ​ — ​ ​ 245 ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (8,397) ​ ​ — ​ ​ (17,668) ​ Total revenues ​ ​ 179,445 ​ ​ 45,359 ​ ​ — ​ ​ 224,804 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 16,161 ​ ​ 23,338 ​ ​ — ​ ​ 39,499 ​ General and administrative ​ ​ 9,076 ​ ​ 4,554 ​ ​ 1,180 ​ ​ 14,810 ​ Facility idling ​ ​ — ​ ​ 870 ​ ​ — ​ ​ 870 ​ Depreciation ​ ​ 15,151 ​ ​ 12,336 ​ ​ — ​ ​ 27,487 ​ Impairment of property and equipment ​ ​ — ​ ​ 203 ​ ​ — ​ ​ 203 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 114 ​ ​ — ​ ​ 114 ​ Total operating expenses ​ ​ 40,388 ​ ​ 41,415 ​ ​ 1,180 ​ ​ 82,983 ​ Operating income ​ $ 139,057 ​ ​ 3,944 ​ ​ (1,180) ​ ​ 141,821 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 24,088 ​ ​ — ​ ​ — ​ ​ 24,088 ​ Additions to property and equipment ​ $ 69,069 ​ ​ 13,514 ​ ​ — ​ ​ 82,583 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2022 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 185,640 ​ ​ 61,411 ​ ​ — ​ ​ 247,051 ​ Revenue–third-party ​ ​ — ​ ​ 1,651 ​ ​ — ​ ​ 1,651 ​ Amortization of customer relationships ​ ​ (9,271) ​ ​ (8,397) ​ ​ — ​ ​ (17,668) ​ Total revenues ​ ​ 176,369 ​ ​ 54,665 ​ ​ — ​ ​ 231,034 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 19,813 ​ ​ 26,835 ​ ​ — ​ ​ 46,648 ​ General and administrative ​ ​ 9,890 ​ ​ 2,425 ​ ​ 1,272 ​ ​ 13,587 ​ Facility idling ​ ​ — ​ ​ 865 ​ ​ — ​ ​ 865 ​ Depreciation ​ ​ 21,177 ​ ​ 13,029 ​ ​ — ​ ​ 34,206 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 50 ​ ​ — ​ ​ 50 ​ Gain on asset sale ​ ​ (2,056) ​ ​ (36) ​ ​ — ​ ​ (2,092) ​ Total operating expenses ​ ​ 48,824 ​ ​ 43,168 ​ ​ 1,272 ​ ​ 93,264 ​ Operating income ​ $ 127,545 ​ ​ 11,497 ​ ​ (1,272) ​ ​ 137,770 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 24,411 ​ ​ — ​ ​ — ​ ​ 24,411 ​ Additions to property and equipment, net ​ $ 58,742 ​ ​ 15,378 ​ ​ — ​ ​ 74,120 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 566,544 ​ ​ 167,832 ​ ​ — ​ ​ 734,376 ​ Revenue–third-party ​ ​ — ​ ​ 340 ​ ​ — ​ ​ 340 ​ Amortization of customer relationships ​ ​ (27,813) ​ ​ (25,191) ​ ​ — ​ ​ (53,004) ​ Total revenues ​ ​ 538,731 ​ ​ 142,981 ​ ​ — ​ ​ 681,712 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 50,409 ​ ​ 67,959 ​ ​ — ​ ​ 118,368 ​ General and administrative ​ ​ 26,459 ​ ​ 17,107 ​ ​ 3,425 ​ ​ 46,991 ​ Facility idling ​ ​ — ​ ​ 3,033 ​ ​ — ​ ​ 3,033 ​ Depreciation ​ ​ 44,268 ​ ​ 36,688 ​ ​ — ​ ​ 80,956 ​ Impairment of property and equipment ​ ​ 1,218 ​ ​ 364 ​ ​ — ​ ​ 1,582 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 347 ​ ​ — ​ ​ 347 ​ Loss on asset sale ​ ​ 3,628 ​ ​ — ​ ​ — ​ ​ 3,628 ​ Total operating expenses ​ ​ 125,982 ​ ​ 125,498 ​ ​ 3,425 ​ ​ 254,905 ​ Operating income ​ $ 412,749 ​ ​ 17,483 ​ ​ (3,425) ​ ​ 426,807 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 66,347 ​ ​ — ​ ​ — ​ ​ 66,347 ​ Additions to property and equipment ​ $ 120,727 ​ ​ 36,221 ​ ​ — ​ ​ 156,948 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2022 ​ ​ ​ Gathering and ​ Water ​ ​ ​ Consolidated ​ (in thousands) Processing Handling Unallocated (1) ​ Total ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue–Antero Resources ​ $ 552,154 ​ ​ 176,994 ​ ​ — ​ ​ 729,148 ​ Revenue–third-party ​ ​ — ​ ​ 2,288 ​ ​ — ​ ​ 2,288 ​ Amortization of customer relationships ​ ​ (27,814) ​ ​ (25,190) ​ ​ — ​ ​ (53,004) ​ Total revenues ​ ​ 524,340 ​ ​ 154,092 ​ ​ — ​ ​ 678,432 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Direct operating ​ ​ 56,338 ​ ​ 75,621 ​ ​ — ​ ​ 131,959 ​ General and administrative ​ ​ 30,081 ​ ​ 13,015 ​ ​ 4,501 ​ ​ 47,597 ​ Facility idling ​ ​ — ​ ​ 3,198 ​ ​ — ​ ​ 3,198 ​ Depreciation ​ ​ 59,838 ​ ​ 38,343 ​ ​ — ​ ​ 98,181 ​ Impairment of property and equipment ​ ​ 1,130 ​ ​ 2,572 ​ ​ — ​ ​ 3,702 ​ Accretion of asset retirement obligations ​ ​ — ​ ​ 178 ​ ​ — ​ ​ 178 ​ Loss on settlement of asset retirement obligations ​ ​ — ​ ​ 539 ​ ​ — ​ ​ 539 ​ Gain on asset sale ​ ​ (2,119) ​ ​ (123) ​ ​ — ​ ​ (2,242) ​ Total operating expenses ​ ​ 145,268 ​ ​ 133,343 ​ ​ 4,501 ​ ​ 283,112 ​ Operating income ​ $ 379,072 ​ ​ 20,749 ​ ​ (4,501) ​ ​ 395,320 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of unconsolidated affiliates ​ $ 70,467 ​ ​ — ​ ​ — ​ ​ 70,467 ​ Additions to property and equipment, net ​ $ 190,407 ​ ​ 45,747 ​ ​ — ​ ​ 236,154 ​ ​ (1) Certain expenses that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis. ​ ​ The summarized total assets of the Company’s reportable segments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ (in thousands) ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2022 ​ Gathering and Processing ​ ​ ​ ​ ​ ​ ​ $ 4,450,939 ​ ​ 4,489,750 ​ Water Handling ​ ​ ​ ​ ​ ​ ​ ​ 1,092,122 ​ ​ 1,073,000 ​ Unallocated (1) ​ ​ ​ ​ ​ ​ ​ ​ 940 ​ ​ 1,071 ​ Total assets ​ ​ ​ ​ ​ ​ ​ $ 5,544,001 ​ ​ 5,563,821 ​ (1) Certain assets that are not directly attributable to gathering and processing and water handling are managed and evaluated on a consolidated basis .

Intangibles - Customer Relation

Intangibles - Customer Relationships (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite lived intangible assets rollforward
Balance - beginning of period			$ 1,356,775
Amortization of customer relationships	$ (17,668)	$ (17,668)	(53,004)	$ (53,004)
Balance - end of period	1,303,771		1,303,771
Customer relationships
Finite lived intangible assets rollforward
Balance - beginning of period			1,356,775
Amortization of customer relationships			(53,004)
Balance - end of period	$ 1,303,771		$ 1,303,771
Customer relationships | Weighted Average
Finite lived intangible assets
Amortization period			19 years

Intangibles - Future amortizati

Intangibles - Future amortization expense (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Future amortization expense
Total	$ 1,303,771	$ 1,356,775
Customer relationships
Future amortization expense
Remainder of year ending December 31, 2022	17,668
Year ending December 31, 2023	70,672
Year ending December 31, 2024	70,672
Year ending December 31, 2025	70,672
Year ending December 31, 2026	70,672
Thereafter	1,003,415
Total	$ 1,303,771	$ 1,356,775

Transactions with Affiliates (D

Transactions with Affiliates (Details) - Antero - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allocation of costs
Direct labor expenses	$ 3	$ 2	$ 10	$ 7
General and administrative expense	$ 6	$ 8	$ 22	$ 24

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Gathering And Compression Agreement
Agreements
Notice period			180 days
Rebate issued	$ 12	$ 0	$ 36	$ 0
Water Handling Agreement
Agreements
Notice period			180 days
Third party out of pocket costs reimbursement markup (as a percent)			3%

Revenue - Minimum Volume Commit

Revenue - Minimum Volume Commitments (Details) - Gathering And Compression Agreement $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Lessor, Operating Leases
Minimum volume commitment that require Antero to pay for high pressure lines	75%
Minimum volume commitment that require Antero to pay for compressor stations	70%
Term of new construction	10 years
Rate of return on new construction from service fee	13%
Time period to earn targeted rate of return from service fee	7 years
Minimum future lease cash flows to be received by the Company
Remainder of year ending December 31, 2022	$ 45,492
Year ending December 31, 2023	298,655
Year ending December 31, 2024	299,473
Year ending December 31, 2025	285,175
Year ending December 31, 2026	271,762
Thereafter	562,414
Total	$ 1,762,971

Revenue - Transaction Price All

Revenue - Transaction Price Allocation and Contract Balances (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Revenue
Original expected duration	true
Receivables from contracts with customers and operating leases	$ 79	$ 81

Revenue - Disaggregation (Detai

Revenue - Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue
Amortization of customer relationships	$ (17,668)	$ (17,668)	$ (53,004)	$ (53,004)
Total revenue	231,034	224,804	678,432	681,712
Gathering And Processing.
Disaggregation of Revenue
Amortization of customer relationships	(9,271)	(9,271)	(27,814)	(27,813)
Water Handling.
Disaggregation of Revenue
Amortization of customer relationships	(8,397)	(8,397)	(25,190)	(25,191)
Fixed Fee | Gathering And Processing.
Disaggregation of Revenue
Total operating revenues	197,640	188,716	588,154	566,544
Fixed Fee | Water Handling.
Disaggregation of Revenue
Total operating revenues	38,921	33,004	112,722	108,113
Cost plus 3% | Water Handling.
Disaggregation of Revenue
Total operating revenues	19,346	16,952	51,384	48,727
Cost of service fee | Water Handling.
Disaggregation of Revenue
Total operating revenues	4,795	3,800	15,176	11,332
Gathering-low pressure | Gathering And Processing.
Disaggregation of Revenue
Total operating revenues	92,091	87,139	273,188	265,206
Gathering-low pressure rebate | Gathering And Processing.
Disaggregation of Revenue
Total operating revenues	(12,000)		(36,000)
Gathering-high pressure | Gathering And Processing.
Disaggregation of Revenue
Total operating revenues	53,185	51,812	159,504	154,065
Compression | Gathering And Processing.
Disaggregation of Revenue
Total operating revenues	52,364	49,765	155,462	147,273
Fresh water delivery | Water Handling.
Disaggregation of Revenue
Total operating revenues	38,445	33,004	111,609	108,113
Other fluid handling | Water Handling.
Disaggregation of Revenue
Total operating revenues	$ 24,617	$ 20,752	$ 67,673	$ 60,059

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Property and Equipment
Total property and equipment	$ 3,871,696	$ 3,660,684
Less accumulated depreciation	(363,688)	(265,938)
Property and equipment, net	3,508,008	3,394,746
Land
Property and Equipment
Total property and equipment	26,682	23,369
Gathering systems and facilities
Property and Equipment
Total property and equipment	3,052,459	2,817,918
Residual value	$ 0	$ 0
Gathering systems and facilities | Minimum
Property and Equipment
Estimated useful lives	40 years	40 years
Gathering systems and facilities | Maximum
Property and Equipment
Estimated useful lives	50 years	50 years
Permanent buried pipelines and equipment
Property and Equipment
Total property and equipment	$ 602,343	$ 582,481
Permanent buried pipelines and equipment | Minimum
Property and Equipment
Estimated useful lives	7 years	7 years
Permanent buried pipelines and equipment | Maximum
Property and Equipment
Estimated useful lives	20 years	20 years
Surface pipelines and equipment
Property and Equipment
Total property and equipment	$ 67,520	$ 54,542
Surface pipelines and equipment | Minimum
Property and Equipment
Estimated useful lives	1 year	1 year
Surface pipelines and equipment | Maximum
Property and Equipment
Estimated useful lives	7 years	7 years
Heavy trucks and equipment
Property and Equipment
Total property and equipment	$ 5,157	$ 5,157
Heavy trucks and equipment | Minimum
Property and Equipment
Estimated useful lives	3 years	3 years
Heavy trucks and equipment | Maximum
Property and Equipment
Estimated useful lives	5 years	5 years
Above ground storage tanks
Property and Equipment
Total property and equipment	$ 2,953	$ 2,946
Above ground storage tanks | Minimum
Property and Equipment
Estimated useful lives	5 years	5 years
Above ground storage tanks | Maximum
Property and Equipment
Estimated useful lives	10 years	10 years
Construction-in-progress
Property and Equipment
Total property and equipment	$ 114,582	$ 174,271

Property and Equipment - Subseq

Property and Equipment - Subsequent Event (Details) - Subsequent event - Crestwood Equity Partners LP - Marcellus gas gathering and compression acquisition $ in Thousands	Oct. 25, 2022 USD ($) MMcf / d item
Property and Equipment
Cash | $	$ 205
Number of miles pipeline acquired	72
Number of compressor stations acquired	9
Daily production of gas | MMcf / d	700

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands					3 Months Ended	9 Months Ended
	Jun. 08, 2021	Nov. 10, 2020	Jun. 28, 2019	Feb. 25, 2019	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Mar. 12, 2019	Sep. 13, 2016
Long-term debt
Total principal						$ 3,164,800		$ 3,147,200
Unamortized debt premiums						1,801		2,106
Unamortized debt issuance costs						(23,432)		(26,396)
Total long-term debt						$ 3,143,169		3,122,910
Loss on early extinguishment of debt							$ (20,701)
Credit Facilities | Minimum | Antero Midstream Partners
Long-term debt
Commitment fees on the unused portion (as a percent)						0.25%
Credit Facilities | Maximum | Antero Midstream Partners
Long-term debt
Commitment fees on the unused portion (as a percent)						0.375%
Credit Facility | Antero Midstream Partners
Long-term debt
Total principal						$ 564,800		547,200
Outstanding letters of credit						$ 0		$ 0
Weighted average interest rate (as a percent)						4.81%		1.81%
Current borrowing capacity						$ 1,250,000		$ 1,250,000
Available borrowing capacity						$ 685,000
5.375% Senior Notes Due 2024 | Finance Corp and together with Antero Midstream Partners
Long-term debt
Unamortized debt premiums									$ 2,600
Interest rate (as a percent)						7.875%		7.875%		5.375%
Face amount										$ 650,000
Debt instrument fair value									652,600
Amount of debt redeemed	$ 650,000
Loss on early extinguishment of debt					$ 21,000
Debt instrument redemption percentage	102.688%
7.875% Senior Notes Due 2026
Long-term debt
Total long-term debt						$ 545,128		$ 544,294
7.875% Senior Notes Due 2026 | Finance Corp and together with Antero Midstream Partners
Long-term debt
Total principal						$ 550,000		$ 550,000
Interest rate (as a percent)		7.875%				5.75%		5.75%
Face amount		$ 550,000
Debt instrument redemption percentage upon change of control		101%
7.875% Senior Notes Due 2026 | Redemption period one | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage		103.938%
7.875% Senior Notes Due 2026 | Redemption period two | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage		100%
7.875% Senior Notes Due 2026 | Redemption period three | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage		107.875%
Debt instrument redemption percentage with payment of premium and interest		100%
7.875% Senior Notes Due 2026 | Redemption period three | Maximum | Finance Corp and together with Antero Midstream Partners
Long-term debt
Percent of aggregate principal amount that can be redeemed		35%
5.75% Senior Notes Due 2027
Long-term debt
Total long-term debt						$ 646,444		$ 645,970
5.75% Senior Notes Due 2027 | Finance Corp and together with Antero Midstream Partners
Long-term debt
Total principal						$ 650,000		$ 650,000
Unamortized debt premiums									3,300
Interest rate (as a percent)				5.75%		5.75%		5.75%
Face amount				$ 650,000
Debt instrument fair value									$ 653,300
Debt instrument redemption percentage upon change of control				101%
5.75% Senior Notes Due 2027 | Redemption period one | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage				102.875%
5.75% Senior Notes Due 2027 | Redemption period two | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage				100%
5.75% Senior Notes Due 2028
Long-term debt
Total long-term debt						$ 644,554		$ 643,902
5.75% Senior Notes Due 2028 | Finance Corp and together with Antero Midstream Partners
Long-term debt
Total principal						$ 650,000		$ 650,000
Interest rate (as a percent)			5.75%			5.375%		5.375%
Face amount			$ 650,000
Debt instrument redemption percentage upon change of control			101%
5.75% Senior Notes Due 2028 | Redemption period one | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage			102.875%
5.75% Senior Notes Due 2028 | Redemption period two | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage			100%
5.75% Senior Notes Due 2028 | Redemption period three | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage			105.75%
Debt instrument redemption percentage with payment of premium and interest			100%
5.75% Senior Notes Due 2028 | Redemption period three | Maximum | Finance Corp and together with Antero Midstream Partners
Long-term debt
Percent of aggregate principal amount that can be redeemed			35%
5.375% Senior Notes Due 2029
Long-term debt
Total long-term debt						$ 742,243		$ 741,544
5.375% Senior Notes Due 2029 | Finance Corp and together with Antero Midstream Partners
Long-term debt
Total principal	$ 750,000					$ 750,000		$ 750,000
Interest rate (as a percent)	5.375%
Debt instrument redemption percentage upon change of control	101%
5.375% Senior Notes Due 2029 | Redemption period one | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage	102.688%
5.375% Senior Notes Due 2029 | Redemption period two | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage	100%
5.375% Senior Notes Due 2029 | Redemption period three | Finance Corp and together with Antero Midstream Partners
Long-term debt
Debt instrument redemption percentage	105.375%
Debt instrument redemption percentage with payment of premium and interest	100%
5.375% Senior Notes Due 2029 | Redemption period three | Maximum | Finance Corp and together with Antero Midstream Partners
Long-term debt
Percent of aggregate principal amount that can be redeemed	35%

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accrued Liabilities
Capital expenditures	$ 19,465	$ 24,900
Operating expenses	8,716	10,417
Interest expense	39,831	36,794
Ad valorem taxes	2,265	5,400
Other	2,675	3,327
Total accrued liabilities	$ 72,952	$ 80,838

Equity Based Compensation and C

Equity Based Compensation and Cash Awards (Details) - USD ($) $ / shares in Units, $ in Millions

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 19, 2019

Apr. 30, 2022

Jul. 31, 2020

Jan. 31, 2020

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2019

Dec. 31, 2021

Mar. 12, 2019

Common Stock

Number of units

Issuance of common stock upon conversion of performance share units (in shares)

25,000

754,000

188,000

102,000

451,000

268,000

AR LTIP

Additional disclosures

Equity based compensation expense allocated from Antero Resources

$ 0.1

$ 0.3

$ 0.4

$ 1.8

Unamortized expense allocated from Antero Resources

$ 0.1

$ 0.1

AM LTIP

Additional disclosures

Number of stock-based compensation awards authorized

15,398,901

Number of shares available for future grant under the Plan

7,410,734

7,410,734

Cash awards granted

$ 0.7

$ 2.2

Vesting period for cash awards

4 years

3 years

Cash awards accrued in other liabilities

$ 0.5

$ 0.5

$ 1.1

AM LTIP RSUs

Number of units

Total awarded and unvested at the beginning of the period (in shares)

3,573,377

3,573,377

Granted (in shares)

2,750,896

Vested (in shares)

(1,243,878)

Forfeited (in shares)

(159,119)

Total awarded and unvested at the end of the period (in shares)

4,921,276

4,921,276

Weighted average grant date fair value

Total awarded and unvested at the beginning of the period (in dollars per unit)

$ 8.11

$ 8.11

Granted (in dollars per unit)

11.28

Vested (in dollars per unit)

8.40

Forfeited (in dollars per unit)

9.37

Total awarded and unvested at the end of the period (in dollars per unit)

$ 9.77

$ 9.77

Additional disclosures

Unamortized expense

$ 39.2

$ 39.2

Shares exchange ratio

1.8926

Weighted average period for recognizing unrecognized stock-based compensation expense

2 years 4 months 24 days

Converted AM RSU Awards | Maximum

Additional disclosures

Unamortized expense

$ 0.1

$ 0.1

ROIC PSUs

Number of units

Total awarded and unvested at the beginning of the period (in shares)

116,526

116,526

Granted (in shares)

461,121

Vested (in shares)

(137,712)

Total awarded and unvested at the end of the period (in shares)

439,935

439,935

Weighted average grant date fair value

Total awarded and unvested at the beginning of the period (in dollars per unit)

$ 6.32

$ 6.32

Granted (in dollars per unit)

11.05

Vested (in dollars per unit)

6.32

Total awarded and unvested at the end of the period (in dollars per unit)

$ 11.28

$ 11.28

Additional disclosures

Unamortized expense

$ 8.4

$ 8.4

Weighted average period for recognizing unrecognized stock-based compensation expense

2 years 6 months

2019 ROIC PSUs

Number of units

Vested (in shares)

(137,712)

Total awarded and unvested at the end of the period (in shares)

0

0

Additional disclosures

Vesting period

3 years

Percentage of target number of ROIC PSUs originally granted that may ultimately be earned

200%

2019 ROIC PSUs | Minimum

Additional disclosures

Percentage of target number of ROIC PSUs originally granted that may ultimately be earned

0%

2019 ROIC PSUs | Maximum

Additional disclosures

Percentage of target number of ROIC PSUs originally granted that may ultimately be earned

200%

2019 ROIC PSUs | Common Stock

Number of units

Issuance of common stock upon conversion of performance share units (in shares)

275,424

2022 ROIC PSUs

Additional disclosures

Vesting period

3 years

2022 ROIC PSUs | Minimum

Additional disclosures

Percentage of target number of ROIC PSUs originally granted that may ultimately be earned

0%

2022 ROIC PSUs | Maximum

Additional disclosures

Percentage of target number of ROIC PSUs originally granted that may ultimately be earned

200%

Equity Based Compensation and_2

Equity Based Compensation and Cash Awards - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity based compensation
Equity based compensation expense	$ 5,553	$ 3,255	$ 14,026	$ 10,326
AM LTIP RSUs
Equity based compensation
Equity based compensation expense	4,525	2,905	11,438	8,608
ROIC PSUs
Equity based compensation
Equity based compensation expense	833	123	1,938	1,036
Equity awards issued to directors
Equity based compensation
Equity based compensation expense	$ 195	$ 227	$ 650	$ 682

Cash Dividends (Details)

Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands															9 Months Ended		12 Months Ended
	Aug. 15, 2022	Aug. 10, 2022	May 16, 2022	Apr. 13, 2022	Feb. 14, 2022	Feb. 09, 2022	Nov. 15, 2021	Nov. 10, 2021	Aug. 16, 2021	Aug. 11, 2021	May 17, 2021	May 12, 2021	Feb. 16, 2021	Feb. 11, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash dividends
Common stock dividends paid		$ 107,675		$ 109,296		$ 108,149		$ 107,459		$ 107,719		$ 108,799		$ 147,194	$ 325,120	$ 363,712
Preferred stock dividends paid															413	$ 413
Dividends paid															325,533		$ 471,721
Common stock dividends (in dollars per share)		$ 0.2250		$ 0.2250		$ 0.2250		$ 0.2250		$ 0.2250		$ 0.2250		$ 0.3075
Cash dividends declared per common share				$ 0.2250
Series A Preferred Stock
Cash dividends
Preferred stock dividends paid	$ 138		$ 137		$ 138		$ 137		$ 138		$ 137		$ 138
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	Sep. 30, 2022	Dec. 31, 2021
Equity and Earnings Per Common Share
Number of shares authorized	100,000,000	100,000,000	100,000,000
Series A Preferred Stock.
Equity and Earnings Per Common Share
Preferred stock, shares issued	10,000
Preferred stock dividend rate	5.50%
Dividend payment term	45 days
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Weighted Average Shares Outstanding
Basic weighted average common shares outstanding	478,460	477,442	478,144	477,196
Add: Dilutive effect of Series A preferred stock	1,089	960	1,089	960
Diluted weighted average number of shares outstanding	480,318	479,695	480,342	479,501
RSUs
Weighted Average Shares Outstanding
Add: Dilutive effect	769	1,093	1,003	1,113
Antidilutive securities excluded from computation of earnings per share	2,685	235	1,662	283
ROIC PSUs
Weighted Average Shares Outstanding
Add: Dilutive effect		200	106	232
Antidilutive securities excluded from computation of earnings per share	880		545

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						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity and Earnings Per Common Share
Net income	$ 84,014	$ 79,395	$ 80,040	$ 89,327	$ 80,223	$ 83,441	$ 243,449	$ 252,991
Less preferred stock dividends	(138)			(138)			(413)	(413)
Net income (loss) available to common shareholders	$ 83,876			$ 89,189			$ 243,036	$ 252,578
Net income per share-basic (in dollars per share)	$ 0.18			$ 0.19			$ 0.51	$ 0.53
Net income per share-diluted (in dollars per share)	$ 0.17			$ 0.19			$ 0.51	$ 0.53
Basic weighted average common shares outstanding	478,460			477,442			478,144	477,196
Weighted average common shares outstanding-diluted	480,318			479,695			480,342	479,501

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair value measurement
Carrying Value	$ 3,143,169	$ 3,122,910
Senior Notes
Fair value measurement
Carrying Value	2,578,369	2,575,710
Senior Notes | Level 2
Fair value measurement
Fair Value	2,401,425	2,741,175
7.875% Senior Notes Due 2026
Fair value measurement
Carrying Value	545,128	544,294
7.875% Senior Notes Due 2026 | Level 2
Fair value measurement
Fair Value	551,430	604,450
5.75% Senior Notes Due 2027
Fair value measurement
Carrying Value	646,444	645,970
5.75% Senior Notes Due 2027 | Level 2
Fair value measurement
Fair Value	601,120	672,750
5.75% Senior Notes Due 2028
Fair value measurement
Carrying Value	644,554	643,902
5.75% Senior Notes Due 2028 | Level 2
Fair value measurement
Fair Value	591,500	680,225
5.375% Senior Notes Due 2029
Fair value measurement
Carrying Value	742,243	741,544
5.375% Senior Notes Due 2029 | Level 2
Fair value measurement
Fair Value	$ 657,375	$ 783,750

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) item mi	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) item mi	Sep. 30, 2021 USD ($)
Investments in unconsolidated affiliates
Balance at beginning of period			$ 696,009
Equity in earnings of unconsolidated affiliates	$ 24,411	$ 24,088	70,467	$ 66,347
Distributions from unconsolidated affiliates			(90,470)	$ (87,115)
Return of investment in unconsolidated affiliate			(17,000)
Balance at end of period	$ 659,006		$ 659,006
Stonewall
Equity Method Investments
Ownership percentage	15%		15%
Number of miles of pipeline | mi	67		67
Investments in unconsolidated affiliates
Balance at beginning of period			$ 130,572
Equity in earnings of unconsolidated affiliates			5,367
Distributions from unconsolidated affiliates			(9,000)
Balance at end of period	$ 126,939		$ 126,939
MarkWest Joint Venture
Equity Method Investments
Ownership percentage	50%		50%
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			$ 565,437
Equity in earnings of unconsolidated affiliates			65,100
Distributions from unconsolidated affiliates			(81,470)
Return of investment in unconsolidated affiliate			(17,000)
Balance at end of period	$ 532,067		$ 532,067

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment item	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Reporting Segments
Number of reportable segments | segment			2
Revenues:
Amortization of customer relationships	$ (17,668)	$ (17,668)	$ (53,004)	$ (53,004)
Total revenue	231,034	224,804	678,432	681,712
Operating expenses:
Direct operating	46,648	39,499	131,959	118,368
General and administrative	13,587	14,810	47,597	46,991
Facility idling	865	870	3,198	3,033
Impairment of property and equipment		203	3,702	1,582
Depreciation	34,206	27,487	98,181	80,956
Accretion of asset retirement obligations	50	114	178	347
Loss on settlement of asset retirement obligations			539
Loss (gain) on asset sale	(2,092)		(2,242)	3,628
Total operating expenses	93,264	82,983	283,112	254,905
Operating income	137,770	141,821	395,320	426,807
Equity in earnings of unconsolidated affiliates	24,411	24,088	70,467	66,347
Total assets	5,563,821		5,563,821		$ 5,544,001
Additions to property and equipment	74,120	82,583	236,154	156,948
Antero
Revenues:
Total operating revenues	247,051	242,227	729,148	734,376
Third party
Revenues:
Total operating revenues	1,651	245	2,288	340
Gathering And Processing.
Revenues:
Amortization of customer relationships	(9,271)	(9,271)	$ (27,814)	(27,813)
Water Handling
Reporting Segments
Number of independent fresh water systems | item			2
Revenues:
Amortization of customer relationships	(8,397)	(8,397)	$ (25,190)	(25,191)
Operating Segments | Gathering And Processing.
Revenues:
Amortization of customer relationships	(9,271)	(9,271)	(27,814)	(27,813)
Total revenue	176,369	179,445	524,340	538,731
Operating expenses:
Direct operating	19,813	16,161	56,338	50,409
General and administrative	9,890	9,076	30,081	26,459
Impairment of property and equipment			1,130	1,218
Depreciation	21,177	15,151	59,838	44,268
Loss (gain) on asset sale	(2,056)		(2,119)	3,628
Total operating expenses	48,824	40,388	145,268	125,982
Operating income	127,545	139,057	379,072	412,749
Equity in earnings of unconsolidated affiliates	24,411	24,088	70,467	66,347
Total assets	4,489,750		4,489,750		4,450,939
Additions to property and equipment	58,742	69,069	190,407	120,727
Operating Segments | Gathering And Processing. | Antero
Revenues:
Total operating revenues	185,640	188,716	552,154	566,544
Operating Segments | Water Handling
Revenues:
Amortization of customer relationships	(8,397)	(8,397)	(25,190)	(25,191)
Total revenue	54,665	45,359	154,092	142,981
Operating expenses:
Direct operating	26,835	23,338	75,621	67,959
General and administrative	2,425	4,554	13,015	17,107
Facility idling	865	870	3,198	3,033
Impairment of property and equipment		203	2,572	364
Depreciation	13,029	12,336	38,343	36,688
Accretion of asset retirement obligations	50	114	178	347
Loss on settlement of asset retirement obligations			539
Loss (gain) on asset sale	(36)		(123)
Total operating expenses	43,168	41,415	133,343	125,498
Operating income	11,497	3,944	20,749	17,483
Total assets	1,073,000		1,073,000		1,092,122
Additions to property and equipment	15,378	13,514	45,747	36,221
Operating Segments | Water Handling | Antero
Revenues:
Total operating revenues	61,411	53,511	176,994	167,832
Operating Segments | Water Handling | Third party
Revenues:
Total operating revenues	1,651	245	2,288	340
Unallocated
Operating expenses:
General and administrative	1,272	1,180	4,501	3,425
Total operating expenses	1,272	1,180	4,501	3,425
Operating income	(1,272)	$ (1,180)	(4,501)	$ (3,425)
Total assets	$ 1,071		$ 1,071		$ 940