May 3 (Reuters) - Antero Midstream GP LP, a partial owner of Antero Resources Corp’s pipeline business, raised $875 million in an initial public offering (IPO) on Wednesday, a source familiar with the matter said.
Antero is the largest midstream IPO of the last two years, as oil price volatility and pushback against new pipeline projects have driven down listing activity.
Proceeds from IPOs of master limited partnerships (MLPs), the structure used by most energy firms to house their “midstream” assets that ship and store oil and gas, dropped to $323 million last year from $4.9 billion in 2015, according to Thomson Reuters data.
The source asked not to be named because the negotiations are confidential. Antero could not be immediately reached for comment. (Reporting by Lauren Hirsch; Editing by Sandra Maler)