AcquisitionsApr 29, 2026, 04:41 PM
AM Acquires HG Midstream for $1.1B; Divests Utica Shale Assets; Q1 Net Income $118.3M
AI Summary
Antero Midstream Corp completed the acquisition of HG Energy II Midstream Holdings, LLC for $1.1 billion and divested its Utica Shale midstream assets for $400 million during the first quarter of 2026. For Q1 2026, the company reported total revenue of $314.2 million, an 8% increase year-over-year, and net income of $118.3 million, a slight decrease from $120.7 million in Q1 2025. The acquisition significantly impacted the balance sheet, increasing property and equipment and long-term debt.
Key Highlights
- AM acquired HG Energy II Midstream Holdings, LLC for $1.1 billion cash, closing February 3, 2026.
- AM divested its Utica Shale midstream assets for $400 million cash, closing February 23, 2026.
- Q1 2026 Total Revenue was $314.2 million, an 8% increase from $291.1 million in Q1 2025.
- Q1 2026 Net Income was $118.3 million, a decrease from $120.7 million in Q1 2025.
- Q1 2026 Basic EPS remained flat at $0.25 compared to Q1 2025.
- Long-term debt increased to $3.67 billion as of March 31, 2026, from $3.22 billion.
- Net cash provided by operating activities increased to $238.6 million in Q1 2026 from $198.9 million.
- Dividends to common stockholders totaled $111.1 million in Q1 2026.