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  "documentTitle": "Antero Midstream Partners | Investor Conference Presentation Deck | 26 slides",
  "authorId": "antero-midstream-partners",
  "authorName": "Antero Midstream Partners",
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  "presentationDate": "2018-11-01 00:00:00",
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  "notes": "The chart compares Antero's realized differential (green) against the general Appalachian market (red), highlighting the stability provided by their hedging strategy.",
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      "kind": "chart",
      "text": "Antero Natural Gas Differentials vs. Appalachia",
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      "kind": "diagram",
      "text": "Hedge Portfolio Supports Firm Commitments leading to Firm Transportation Portfolio, resulting in Premium Price Certainty and Effectively Hedge NYMEX Index",
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      "kind": "source-note",
      "text": "(1) Reflects discount to NYMEX for Appalachia in-basin pricing at Dominion South & TETCO M2 indices. (2) Represents simple average discount to NYMEX for Antero firm transportation capacity. Note: Pricing reflects pre-hedge pricing",
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      "kind": "title",
      "text": "Antero is 100% hedged on natural gas at prices 25% above NYMEX through 2019; Hedges and FT provide price certainty and limited volatility",
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      "kind": "title",
      "text": "A Paired Trade – Hedges Support FT Commitments",
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      "evidence": "Contrasts high volatility (Appalachia) with low volatility (Antero) to demonstrate value of strategy.",
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      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
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