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  "authorName": "Baird",
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  "notes": "Includes market data as of October 5, 2018. Contains specific footnotes regarding GP/LP distinctions and pro forma adjustments.",
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      "text": "(1) Values in the GP columns represent those for the public general partners. Values in the MLP column represent those for the public \"operating\" MLP. (2) Wall Street consensus estimates. (3) No pro forma adjustments for the announced ETE / ETP merger. (4) Implied Firm Value based on June 30, 2018 10-Q. Cash flow and distribution metrics based on Wall Street consensus estimates. (5) Implied Firm Value based on June 30, 2018 10-Q. Cash flow and distribution metrics based on Antero management forecast.",
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      "text": "Source: Antero management, Company and Partnership filings, S&P Capital IQ and Wall Street Research as of October 5, 2018. Note: Market data are pro forma for any capital markets and M&A transactions announced or completed since the most recent filings.",
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      "text": "Market Stats and Valuation Stats table for Energy Transfer Equity, EnLink Midstream, EQT GP Holdings, Western Gas Equity Partners, and Antero Midstream GP",
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