Antero Resources, partnerships give upbeat 2018 guidance

|About: Antero Midstream Partners (AM)|By:, SA News Editor

Antero Resources (NYSE:AR) and its subsidiaries offered Q4 highlights, 2018 guidance and long-term targets at today's analyst day.

AR +1% after-hours after saying Q4 average net daily gas equivalent production rose 18% Y/Y and expects consolidated adjusted EBITDAX of $430M-$445M, above the midpoint of previous guidance; for FY 2018, it forecasts net daily production including liquids to grow 20% from 2017 volumes to ~2.7B cfe/day, and plans a $1.45B capital budget.

Antero Midstream Partners (NYSE:AM) forecasts 2018 distributable cash flow of $575M-$625M with DCF coverage of 1.25x-1.35x, and expects to generate free cash flow before distributions in 2018 for the first time since its inception.

Antero Midstream GP (NYSE:AMGP) guides 2018 distribution of $0.52-$0.55/share, or 154%-172% Y/Y growth, including a 20% increase in guidance as a result of the reduction in federal corporate tax rates.

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