Antero Midstream Reports Record Q2 Gathering Volumes
Antero Midstream (AM) reported Q2 earnings Wednesday, showing record gathering volumes of 375,249 million cubic feet, up from 314,826 MMcf a year earlier.Average gathering volumes increased to 4,124 MMcf/d for the quarter ended June 30, up from 3,460 MMcf/d.Compression volumes totaled 367,280 MMcf during the quarter, up from 313,706 MMcf a year earlier. Average compression volumes rose to 4,036 MMcf/d from 3,447 MMcf/d in the year-ago quarter.Centralized compression volumes declined to 299,283 MMcf, or 3,289 MMcf/d, from 313,706 MMcf, or 3,447 MMcf/d, according to the company.High-pressure gathering volumes declined to 271,748 MMcf, or 2,986 MMcf/d, from 293,146 MMcf, or 3,221 MMcf/d, for the same quarter last year, Antero Midstream said.Fresh water delivery volumes totaled 7.479 million barrels during the quarter, down from 8.941 million barrels a year earlier. Average fresh water delivery volumes declined to 82 MBbl/d from 98 MBbl/d.Other water handling volumes increased to 12.38 million barrels, or 136 MBbl/d, during the quarter from 5.33 million barrels, or 59 MBbl/d, a year earlier, the company added.Antero Midstream connected 26 wells to its gathering system during the quarter. The company also serviced 21 wells through its fresh water delivery system, up from 11 wells a year earlier.Joint venture processing volumes totaled 151,217 MMcf, or 1,662 MMcf/d, compared with 153,560 MMcf, or 1,687 MMcf/d, a year earlier. Fractionation volumes held steady at 3,640 million barrels for the quarter.Antero Midstream began construction of the East Side Express during the quarter, its first dry gas regional connectivity project. The pipeline will expand deliveries to regional and long-haul pipelines while improving access to growing local demand, the company said.
