{
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  "docSlug": "95a5d2139f0ac56ab1dadc9e1d7d4f46",
  "documentTitle": "Antero Midstream Partners | Mergers and Acquisitions Presentation Deck | 49 slides",
  "authorId": "antero-midstream-partners",
  "authorName": "Antero Midstream",
  "documentKindSlug": "deck",
  "documentKindLabel": "Deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3314841,
  "pageNumber": 14,
  "pageCount": 49,
  "prevPage": 13,
  "nextPage": 15,
  "slideType": "other",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 12,
  "notes": "The chart highlights the transition from negative cash flow (outspend) to positive cash flow, with a specific focus on the 2018 guidance point.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-3dc4-70ec-878e-ad646afa06e6/14",
  "deckHref": "/decks/019de50f-3dc4-70ec-878e-ad646afa06e6",
  "deckJsonHref": "/decks/019de50f-3dc4-70ec-878e-ad646afa06e6.json",
  "deckAnchorHref": "/decks/019de50f-3dc4-70ec-878e-ad646afa06e6#slide-14",
  "components": [
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        "y": 0.09
      },
      "kind": "callout",
      "text": "Over $1.6B of Targeted Free Cash Flow from 2018 to 2022 at Strip Pricing Including Maintenance Land Capital Expenditures",
      "attrs": null,
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      "kind": "chart",
      "text": "Historical outspend (2014-2017) and projected free cash flow (2018-2022)",
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      "subkind": "bar-vertical",
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        "y": 0.93
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      "kind": "disclaimer",
      "text": "Note: See definitions for free cash flow and assumptions behind long-term targets in Appendix; free cash flow definition includes $200MM maintenance land spending, but excludes $300MM discretionary land spending.",
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      "kind": "legend",
      "text": "Stand-Alone E&P Free Cash Flow Outspend; Stand-Alone Free Cash Flow: $60 Oil / $2.85 Gas Case, Strip Pricing at 12/31/17 (Base Case), $50 Oil / $2.85 Gas Case",
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        "x": 0.2,
        "y": 0.85
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      "kind": "paragraph",
      "text": "D&C Capital Investment Fully Funded with Cash Flow",
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      },
      "kind": "title",
      "text": "ARs Lower Capital & Higher Liquids → Free Cash Flow",
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      "arcName": "The Consultant's Gambit",
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      "evidence": "The deck presents the proposed solution, including the creation of a new, publicly traded midstream infrastructure corporation with no IDRs.",
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      "objective": "How can a simplification transaction create value for Antero Midstream Partners?",
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