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  "documentTitle": "Baird | Investment Banking Pitch Book | 43 slides",
  "authorId": "baird",
  "authorName": "Baird",
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  "presentationDate": "2018-03-01 00:00:00",
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  "notes": "The slide uses a combination of bar charts and a table to illustrate the financial disparity between the parent company (AR) and the midstream entities.",
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      "kind": "chart",
      "text": "FREE CASH FLOW BY ENTITY",
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      "text": "Source: AR and AM SEC filings. (1) All offering data excludes underwriters' overallotment option. (2) Based on AM's Q2 2017E distribution, annualized, calculated according to midpoint of management's public guidance as disclosed in AMGP's S-1.",
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      "text": "AR's significant drilling capital through 2017 ultimately drove substantial IDR cash flow at the GP. IDR cash flow growth led to an $875 MM IPO.",
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      "kind": "title",
      "text": "ANTERO FAMILY STRUCTURAL ISSUES (CONT.)",
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