{
  "docId": "019de50f-3d3d-7277-bb63-e69d994f092a",
  "docSlug": "251e9de47ce49a270acb2265f2b02797",
  "documentTitle": "Antero Midstream Partners | Investor Presentation Deck | 54 slides",
  "authorId": "antero-midstream-partners",
  "authorName": "Antero Midstream Partners",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2018-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3314841,
  "pageNumber": 29,
  "pageCount": 54,
  "prevPage": 28,
  "nextPage": 30,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 36,
  "notes": "The chart uses a dual-axis approach to correlate company-specific margin performance with broader commodity price volatility.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-3d3d-7277-bb63-e69d994f092a/29",
  "deckHref": "/decks/019de50f-3d3d-7277-bb63-e69d994f092a",
  "deckJsonHref": "/decks/019de50f-3d3d-7277-bb63-e69d994f092a.json",
  "deckAnchorHref": "/decks/019de50f-3d3d-7277-bb63-e69d994f092a#slide-29",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.45,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "callout",
      "text": "Antero's integrated strategy has resulted in peer-leading EBITDAX margins for ~6 years",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8b6cff7f-ef6b-432c-96e5-998d9d3ba9bc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.45,
        "x": 0.52,
        "y": 0.08
      },
      "kind": "callout",
      "text": "Sustainable margins through the price cycles",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f7403912-695e-4190-8149-d6ee5f6912b7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "chart",
      "text": "EBITDAX Margin vs WTI Price (2013-YTD 2018)",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "87d49462-e403-499e-8b2c-bc2bb1628949",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: SEC filings and company press releases. AR 2017 margins exclude $0.10/Mcfe negative impact from WGL and SJR natural gas contract disputes. Peers include CNX, COG, EQT, RRC & SWN. (1) AR and EQT EBITDAX include distributions from midstream ownership. Cash costs for AR and EQT represent stand-alone GPT, production taxes, LOE and cash G&A. Post-hedge and post marketing expense where applicable.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8866d099-1a20-4fb7-9ab9-6b2dc3742af1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.05,
        "y": 0.02
      },
      "kind": "title",
      "text": "Consistent Leader in EBITDAX Margin",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "df7c8a1b-5144-4317-a467-226d9d03ae2e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Slide recipe: the peer-gap chart",
      "slug": "peer-gap-chart-recipe",
      "agent": "designer",
      "layer": "slide",
      "matchId": "10664d48-d9b7-4336-b3a4-a116b7eea77e",
      "evidence": "The slide compares Antero's performance to its peers in a chart.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "56d78e56-b8a1-4020-bb80-3a0cace9fc05",
      "evidence": "Comparing Antero's performance against a peer group over time.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 30,
      "from": 21,
      "beatId": "607568e3-6ca2-423c-92ba-a23084fdf998",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Financials",
      "beatSlug": "sequoia-pitch-financials",
      "evidence": "The document provides detailed financial information and performance metrics",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 30,
      "from": 21,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "31d04600-cb6f-4482-83de-c6b0eedfc994",
      "evidence": "The document presents detailed financial information and performance metrics",
      "position": 2,
      "objective": "Highlight the company's financial performance and growth prospects",
      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
      "confidence": 0.6,
      "description": "Separate initiatives into immediate wins and longer-term strategic bets"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}