{
  "docId": "019de06f-8fdf-7788-b02b-62cbef3fd46f",
  "docSlug": "4b8f114034372e44444c90d9b0efb9f4",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 27 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-03-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 25,
  "pageCount": 27,
  "prevPage": 24,
  "nextPage": 26,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 30,
  "notes": "The slide uses bar charts to compare Antero Resources, Antero Midstream LP, and Antero Midstream GP against various industry peers.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-8fdf-7788-b02b-62cbef3fd46f/25",
  "deckHref": "/decks/019de06f-8fdf-7788-b02b-62cbef3fd46f",
  "deckJsonHref": "/decks/019de06f-8fdf-7788-b02b-62cbef3fd46f.json",
  "deckAnchorHref": "/decks/019de06f-8fdf-7788-b02b-62cbef3fd46f#slide-25",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.41,
        "y": 0.23
      },
      "kind": "chart",
      "text": "EV / 2018E EBITDA",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8f84979d-8618-411d-81aa-657649379293",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.41,
        "y": 0.58
      },
      "kind": "chart",
      "text": "2018E DPU Yield",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b76b7069-78b4-4451-93db-0a562f360d2d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.69,
        "y": 0.58
      },
      "kind": "chart",
      "text": "2018 DPU / DPS Yield",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cddbf4b7-67e3-4870-9c6c-939c3c26217e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.13,
        "y": 0.23
      },
      "kind": "chart",
      "text": "E&P Value / PV-10",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dcc892d2-1162-4329-b12d-7526cb0fa4b2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.69,
        "y": 0.23
      },
      "kind": "chart",
      "text": "EV / 2018E EBITDA (HoldCo)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f63bfc99-24fa-48fd-8d4d-911044f0e5c4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.13,
        "y": 0.58
      },
      "kind": "chart",
      "text": "Unhedged $ / Marcellus Acre",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fdfc4862-f504-4a40-8ed5-97c00b5554e8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.13,
        "y": 0.89
      },
      "kind": "disclaimer",
      "text": "Source: Company filings and press releases, Wall Street Research, Bloomberg market data as of 23-Feb-2018. RRC acreage includes Terryville. EV adjusted by value of hedge book at SEC pricing and adjusted by 2017 production at $3,000 per MMcfe. NM denotes negative adj. value.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8100af19-f912-43eb-8f05-1bb5ba02d2b0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.13,
        "y": 0.07
      },
      "kind": "title",
      "text": "Antero Family Valuation vs. Peers",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "75d44b86-c5c3-4e6d-93f4-305c1c4e0528",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 27,
      "from": 21,
      "beatId": "e41205ce-d5af-4555-8225-9b0c674e5d56",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The document provides additional reference materials, data, and analysis to support their advisory services.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}