Annual report pursuant to Section 13 and 15(d)

Distributions from Antero Midstream

v3.10.0.1
Distributions from Antero Midstream
12 Months Ended
Dec. 31, 2018
Distributions from Antero Midstream  
Distributions from Antero Midstream

(6)  Distributions from Antero Midstream

Antero Midstream’s partnership agreement provides for a minimum quarterly distribution of $0.17 per common unit for each quarter, or $0.68 per unit on an annualized basis.  If cash distributions to Antero Midstream’s unitholders exceed $0.1955 per common unit in any quarter, IDR LLC, as the holder of Antero Midstream’s IDRs, will receive distributions according to the following percentage allocations:

 

 

 

 

 

 

 

 

 

 

Marginal Percentage Interest in Distributions

 

Total Quarterly Distribution
Target Amount

 

Antero Midstream Common Unitholders

 

Holder of IDRs

 

above $0.1955 up to $0.2125

 

85

%  

 

15

%  

 

above $0.2125 up to $0.2550

 

75

%  

 

25

%  

 

above $0.2550

 

50

%  

 

50

%  

 

 

Distributions per common unit and distributions related to the IDRs were as follows for the periods indicated:

 

 

 

 

 

 

 

 

 

 

Quarter
and
Year

    

Distribution Date

    

Antero Midstream Distribution Amount
per Common Unit

    

Income Attributable to IDRs
($ thousands)

 

Q1 2016

 

May 25, 2016

 

$

0.235

 

$

1,850

 

Q2 2016

 

August 24, 2016

 

$

0.250

 

$

2,731

 

Q3 2016

 

November 24, 2016

 

$

0.265

 

$

4,820

 

Q4 2016

 

February 8, 2017

 

$

0.280

 

$

7,543

 

Q1 2017

 

May 10, 2017

 

$

0.300

 

$

11,553

 

Q2 2017

 

August 16, 2017

 

$

0.320

 

$

15,328

 

Q3 2017

 

November 16, 2017

 

$

0.340

 

$

19,067

 

Q4 2017

 

February 13, 2018

 

$

0.365

 

$

23,772

 

Q1 2018

 

May 18, 2018

 

$

0.390

 

$

28,460

 

Q2 2018

 

August 17, 2018

 

$

0.415

 

$

33,138

 

Q3 2018

 

November 16, 2018

 

$

0.440

 

$

37,816

 

 

The board of directors of Antero Midstream’s general partner has declared a cash distribution of $0.47 per unit for the quarter ended December 31, 2018.  The distribution was paid on February 13, 2019 to shareholders of record as of February 1, 2019.  The distribution attributable to the IDRs for the quarter ended December 31, 2018 is $43.5 million.

Distributions attributable to the IDRs which relate to periods prior to May 9, 2017, the closing of our IPO, were distributed to Antero Investment prior to its liquidation.