Antero Midstream Corporation is a midstream energy services company that operates gathering and compression pipelines, natural gas processing and fractionation facilities, and water handling services in the Appalachian Basin, primarily serving Antero Resources, an unconventional oil and natural gas producer focused on shale development. The company generates revenue through gathering and compression fees based on throughput volumes, processing and fractionation service charges, water handling services, and long-term service contracts with minimum volume commitments. As a holding company dependent on distributions from its operating subsidiary, the business model relies on sustained demand for midstream services supporting unconventional natural gas and natural gas liquids production, with revenues returned to shareholders through dividends and share repurchases.