Antero Midstream Corporation reported a significant increase in financial performance for the second quarter of 2025, with total revenues rising to $305.5 million, a 13% increase from $269.8 million in the same period of 2024. The company's net income also saw a substantial rise, reaching $124.5 million compared to $86.0 million a year earlier. This growth was driven primarily by increased revenues from both gathering and compression services, which rose to $239.6 million, and water handling services, which increased to $66.0 million.
The company experienced notable operational changes, including the addition of 72 new wells connected to its systems, which contributed to increased throughput volumes. Specifically, low-pressure gathering volumes increased by 6%, while high-pressure gathering volumes rose by 8%. The average fees for gathering and compression services also saw slight increases, reflecting annual Consumer Price Index (CPI) adjustments. Additionally, Antero Midstream's equity in earnings from unconsolidated affiliates increased by 9%, indicating improved performance from its joint ventures.
In terms of strategic developments, Antero Midstream completed the acquisition of Marcellus gas gathering and compression assets from Summit for $70 million in cash during the second quarter of 2024. This acquisition included 48 miles of high-pressure gathering pipelines and two compressor stations, enhancing the company's operational capacity. The company also repurchased approximately 3 million shares of its common stock for $45 million during the first half of 2025, reflecting its commitment to returning value to shareholders.
The company's financial position remains strong, with total assets reported at $5.76 billion as of June 30, 2025, a slight increase from $5.73 billion at the end of 2024. Long-term debt increased to $3.12 billion, up from $3.02 billion, primarily due to ongoing capital expenditures and operational investments. Antero Midstream's cash flows from operating activities also improved, totaling $464.1 million for the first half of 2025, compared to $426.4 million in the prior year.
Looking ahead, Antero Midstream anticipates continued growth driven by its strategic relationships and operational efficiencies. The company has revised its capital budget for 2025 to a range of $170 million to $190 million, focusing on maintenance capital to support Antero Resources' production activities. Despite potential market volatility and inflationary pressures, Antero Midstream expects to maintain its revenue stability due to its fixed-fee contract structures and ongoing demand for its services in the Appalachian Basin.
About Antero Midstream Corp
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