{
  "docId": "019de50f-3383-74b9-bf7a-5bfe6a9745c9",
  "docSlug": "94cd1fe74d3f3d7659e745d12858041c",
  "documentTitle": "Antero Midstream Partners | Mergers and Acquisitions Presentation Deck | 29 slides",
  "authorId": "antero-midstream-partners",
  "authorName": "Antero Resources",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3314841,
  "pageNumber": 9,
  "pageCount": 29,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "other",
  "function": "plan_implementation",
  "density": "dense",
  "nDataPoints": 5,
  "notes": "Includes specific financial targets for net debt to LTM EBITDAX.",
  "elementsJson": null,
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019de50f-3383-74b9-bf7a-5bfe6a9745c9/9",
  "deckHref": "/decks/019de50f-3383-74b9-bf7a-5bfe6a9745c9",
  "deckJsonHref": "/decks/019de50f-3383-74b9-bf7a-5bfe6a9745c9.json",
  "deckAnchorHref": "/decks/019de50f-3383-74b9-bf7a-5bfe6a9745c9#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.01,
        "y": 0.96
      },
      "kind": "disclaimer",
      "text": "Note: Based on AR share price as of 10/8/2018\nFor additional information regarding Non-GAAP Measures please see the Appendix.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "701e90ef-f881-4a69-ace1-b3e1eddc4f81",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.92,
        "x": 0.04,
        "y": 0.19
      },
      "kind": "list",
      "text": "1. Share repurchase program authorized over the next 12 to 18 months\n2. Expected to be funded through visible, accretive sources\n3. Disciplined approach to share repurchases",
      "attrs": null,
      "subkind": "numbered",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4e2d203f-113a-46a2-9c9f-08017d947308",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.09
      },
      "kind": "title",
      "text": "The Board of AR has approved an initial $600MM share repurchase program, representing over 10% of AR's shares outstanding assuming today's share price",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "50238d43-5186-4bf8-9dec-18981ca94bdd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.04,
        "y": 0.02
      },
      "kind": "title",
      "text": "Share Repurchase Program Details",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5752c1ce-5007-4d82-9486-68f1580b82a9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "6a93c1cc-781c-45f1-8723-ac3d23bcc32f",
      "evidence": "list/numbered: 1. Share repurchase program authorized over the next 12 to 18 months 2. Expected to be funded through visible, accretive sources 3. Disciplined approach to share repurchases",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "capital-allocation-framework",
      "slug": null,
      "matchId": "995c2680-86f2-4a04-8f15-51021122e8c8",
      "evidence": "Describes the authorization, funding, and balance sheet constraints for a capital return program.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 8,
      "beatId": "94ea2dc1-3b70-47ba-a79b-14991cb7e067",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "Slides 8-20 present the solution and approach",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 10,
      "from": 9,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "229ae04c-8af0-41c8-829b-b4018f8305a7",
      "evidence": "Program details and benefits presented",
      "position": 1,
      "objective": "Highlight share repurchase program",
      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
      "confidence": 0.7,
      "description": "Separate initiatives into immediate wins and longer-term strategic bets"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}