Antero Midstream completes $70M bolt-on acquisition, raises 2024 guidance, calls 7.875% notes

Antero Midstream Corp

Acquired Marcellus gathering and compression assets from Summit Midstream for $70M cash; effective April 1, 2024.
2024 Adjusted EBITDA guidance raised by $15M to $1.035–$1.075B; FCF after dividends guidance up $10M to $245–$285M.
Called for redemption all outstanding 7.875% Senior Notes due 2026 on May 16, 2024.
Acquisition expected to be >5% accretive to Free Cash Flow after dividends through 2027; targets 3.0x leverage in 2024.

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