Quarterly report pursuant to Section 13 or 15(d)

Equity Method Investments (Tables)

v3.19.1
Equity Method Investments (Tables)
3 Months Ended
Mar. 31, 2019
Equity Method Investments.  
Schedule of reconciliation of investments in unconsolidated affiliates

The following table is a reconciliation of investments in unconsolidated affiliates for the three months ended March 31, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stonewall (1)

 

MarkWest
Joint Venture

 

Antero Midstream Corporation  (2)

 

Total

 

Balance at December 31, 2018

 

$

68,103

 

 

365,539

 

 

 —

 

 

433,642

 

Investments (3)

 

 

 —

 

 

25,020

 

 

 —

 

 

25,020

 

Equity in net income of unconsolidated affiliates

 

 

1,894

 

 

10,370

 

 

1,817

 

 

14,081

 

Distributions from unconsolidated affiliates

 

 

(3,000)

 

 

(9,605)

 

 

 —

 

 

(12,605)

 

Effects of deconsolidation (4)

 

 

(66,997)

 

 

(391,324)

 

 

1,987,795

 

 

1,529,474

 

Balance at March 31, 2019

 

$

 —

 

 

 —

 

 

1,989,612

 

 

1,989,612

 


(1)

Distributions are net of operating and capital requirements retained by Stonewall.

(2)

As adjusted for the amortization of the difference between the cost of the equity investment in Antero Midstream Partners and the amount of underlying equity in the net assets of Antero Midstream Partners as of the date of deconsolidation.

(3)

Investments in the Joint Venture during the three months ended March 31, 2019 relate to capital contributions for construction of additional processing facilities.

(4)

Effective March 13, 2019, the equity in earnings of Stonewall and the Joint Venture are accounted for in the equity in earnings of Antero Midstream Corporation.

Schedule of summarized financial information of Antero Midstream Corporation

 

Balance Sheet

 

 

 

 

 

 

(in thousands)

 

March 31, 2019

 

Current assets

 

$

116,719

 

Noncurrent assets

 

 

6,551,708

 

Total assets

 

$

6,668,427

 

 

 

 

 

 

Current liabilities

 

$

118,062

 

Noncurrent liabilities

 

 

2,514,815

 

Stockholders' equity

 

 

4,035,550

 

Total liabilities and equity

 

$

6,668,427

 

 

Statement of Operations

 

 

 

 

 

 

 

 

For the period

 

 

 

 

March 13, 2019 through

 

(in thousands)

 

March 31, 2019

 

Revenues

 

$

54,108

 

Operating expenses

 

 

30,029

 

Income from operations

 

 

24,079

 

Net income attributable to the equity method investments

 

 

23,197