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  "documentTitle": "Antero Midstream Partners | Investor Presentation Deck | 54 slides",
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  "authorName": "Antero Midstream Partners",
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  "presentationDate": "2018-11-01 00:00:00",
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  "notes": "The chart uses a waterfall bridge to show how various costs (Pad, FT, AM, G&A, Land) reduce the initial ROR to the final fully burdened ROR.",
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      "text": "Single Well Economics Bridge to Corporate Level Returns",
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      "text": "Note: See company presentation on Antero Resources investor relations website for further detail behind full cycle and half cycle single well economics; WACC calculated using CAPM. (1) ROR (D&C only) burdened with 60% of AM fees to give credit for AM ownership/distributions and variable firm transportation fees only (i.e. excluding sunk demand costs). (2) Incremental 40% of AM fees represent the full midstream fees AR pays to AM on complete stand-alone basis (i.e. no credit for midstream ownership). Includes increase in D&C capital to account for full water fees paid to AM. (3) 2.4 bcfe/1,000' EUR assumes ethane rejection.",
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      "text": "Well Assumptions: 12,000' Lateral, 1250 BTU Wellhead Gas, 2.4 Bcfe/1,000' EUR, 6/30/2018 Strip Pricing",
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      "text": "Compelling Full Cycle Well Economics",
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