v3.5.0.2

SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2016
SEGMENT INFORMATION |
SEGMENT INFORMATION | 9. SEGMENT INFORMATION As of June 30, 2016, the Partnership had two operating segments gathering and processing and logistics. These segments were identified based on the differing products and services, regulatory environment, and expertise required for their respective operations. The Partnership's CODM is the Chief Executive Officer of our General Partner. As a result of the terms of the AES Agreement all of the contracts with our logistics segment were terminated. During the second quarter of 2016, we evaluated our logistics segment. This evaluation resulted in focusing our operations around our Wildcat crude oil transloading facility located in Carbon County, Utah. We moved our transloading equipment from our Wyoming and New Mexico facilities to our Wildcat facility to concentrate our efforts to acquire new business in this region. We will continue to evaluate our logistics segment on an ongoing basis to determine its viability as an operating segment. The financial information for our operating segments has been presented for the three and six months ended June 30, 2016 and 2015 and as of June 30, 2016 and December 31, 2015. The following table presents financial information by segment for the three months ended June 30, 2016:
|  | Gathering & |  |  |  |  | Corporate and |  | Azure Midstream |
In thousands |  | Processing |  | Logistics |  | Consolidation |  | Partners, LP |
Total operating revenues |  | $ | 10,838 |  | $ | — |  | $ | — |  | $ | 10,838 |
Cost of natural gas and NGL's |  |  | 3,970 |  |  | — |  |  | — |  |  | 3,970 |
Gross margin |  |  | 6,868 |  |  | — |  |  | — |  |  | 6,868 |
Operation and maintenance |  |  | 3,689 |  |  | 668 |  |  | — |  |  | 4,357 |
General and administrative |  |  | — |  |  | — |  |  | 4,072 |  |  | 4,072 |
Depreciation and amortization expense |  |  | 3,547 |  |  | 29 |  |  | 22 |  |  | 3,598 |
Operating loss |  |  | (368) |  |  | (697) |  |  | (4,094) |  |  | (5,159) |
Interest expense |  |  | — |  |  | — |  |  | 3,153 |  |  | 3,153 |
Other income, net |  |  | (14) |  |  | — |  |  | — |  |  | (14) |
Net loss before income tax expense |  |  | (354) |  |  | (697) |  |  | (7,247) |  |  | (8,298) |
Income tax expense |  |  | 23 |  |  | — |  |  | 70 |  |  | 93 |
Net loss |  | $ | (377) |  | $ | (697) |  | $ | (7,317) |  | $ | (8,391) |
The following table presents financial information by segment for the six months ended June 30, 2016:
|  | Gathering & |  |  |  |  | Corporate and |  | Azure Midstream |
In thousands |  | Processing |  | Logistics |  | Consolidation |  | Partners, LP |
Total operating revenues |  | $ | 23,519 |  | $ | — |  | $ | — |  | $ | 23,519 |
Cost of natural gas and NGL's |  |  | 7,300 |  |  | — |  |  | — |  |  | 7,300 |
Gross margin |  |  | 16,219 |  |  | — |  |  | — |  |  | 16,219 |
Operation and maintenance |  |  | 7,097 |  |  | 1,331 |  |  | — |  |  | 8,428 |
General and administrative |  |  | — |  |  | — |  |  | 6,760 |  |  | 6,760 |
Depreciation and amortization expense |  |  | 7,859 |  |  | 59 |  |  | 1,670 |  |  | 9,588 |
Impairments |  |  | 78,264 |  |  | 29,213 |  |  | — |  |  | 107,477 |
Operating loss |  |  | (77,001) |  |  | (30,603) |  |  | (8,430) |  |  | (116,034) |
Interest expense |  |  | — |  |  | — |  |  | 6,154 |  |  | 6,154 |
Other expense, net |  |  | 21 |  |  | — |  |  | 60 |  |  | 81 |
Net loss before income tax expense |  |  | (77,022) |  |  | (30,603) |  |  | (14,644) |  |  | (122,269) |
Income tax expense (benefit) |  |  | 30 |  |  | — |  |  | (337) |  |  | (307) |
Net loss |  | $ | (77,052) |  | $ | (30,603) |  | $ | (14,307) |  | $ | (121,962) |
The following table presents financial information by segment for the three months ended June 30, 2015:
|  | Gathering & |  |  |  |  | Corporate and |  | Azure Midstream |
In thousands |  | Processing |  | Logistics |  | Consolidation |  | Partners, LP |
Total operating revenues |  | $ | 20,209 |  | $ | 4,163 |  | $ | — |  | $ | 24,372 |
Cost of natural gas and NGL's |  |  | 4,994 |  |  | — |  |  | — |  |  | 4,994 |
Gross margin |  |  | 15,215 |  |  | 4,163 |  |  | — |  |  | 19,378 |
Operation and maintenance |  |  | 5,149 |  |  | 628 |  |  | — |  |  | 5,777 |
General and administrative |  |  | — |  |  | — |  |  | 4,374 |  |  | 4,374 |
Depreciation and amortization expense |  |  | 4,224 |  |  | 22 |  |  | 1,638 |  |  | 5,884 |
Operating income (loss) |  |  | 5,842 |  |  | 3,513 |  |  | (6,012) |  |  | 3,343 |
Interest expense |  |  | — |  |  | — |  |  | 3,225 |  |  | 3,225 |
Other expense, net |  |  | 581 |  |  | — |  |  | — |  |  | 581 |
Net income (loss) before income tax expense |  |  | 5,261 |  |  | 3,513 |  |  | (9,237) |  |  | (463) |
Income tax expense |  |  | — |  |  | — |  |  | 540 |  |  | 540 |
Net income (loss) |  | $ | 5,261 |  | $ | 3,513 |  | $ | (9,777) |  | $ | (1,003) |
The following table presents financial information by segment for the six months ended June 30, 2015:
|  | Gathering & |  |  |  |  | Corporate and |  | Azure Midstream |
In thousands |  | Processing |  | Logistics |  | Consolidation |  | Partners, LP |
Total operating revenues |  | $ | 34,469 |  | $ | 5,583 |  | $ | — |  | $ | 40,052 |
Cost of natural gas and NGL's |  |  | 9,797 |  |  | — |  |  | — |  |  | 9,797 |
Gross margin |  |  | 24,672 |  |  | 5,583 |  |  | — |  |  | 30,255 |
Operation and maintenance |  |  | 9,437 |  |  | 998 |  |  | — |  |  | 10,435 |
General and administrative |  |  | — |  |  | — |  |  | 7,248 |  |  | 7,248 |
Depreciation and amortization expense |  |  | 6,851 |  |  | 589 |  |  | 1,638 |  |  | 9,078 |
Operating income (loss) |  |  | 8,384 |  |  | 3,996 |  |  | (8,886) |  |  | 3,494 |
Interest expense |  |  | — |  |  | — |  |  | 6,698 |  |  | 6,698 |
Other expense, net |  |  | 1,680 |  |  | — |  |  | — |  |  | 1,680 |
Net income (loss) before income tax expense |  |  | 6,704 |  |  | 3,996 |  |  | (15,584) |  |  | (4,884) |
Income tax expense |  |  | — |  |  | — |  |  | 499 |  |  | 499 |
Net income (loss) |  | $ | 6,704 |  | $ | 3,996 |  | $ | (16,083) |  | $ | (5,383) |
The following table presents financial information by segment as of June 30, 2016:
|  | Gathering & |  |  |  |  | Corporate and |  | Azure Midstream |
In thousands |  | Processing |  | Logistics |  | Consolidation |  | Partners, LP |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 5,244 |  | $ | 12 |  | $ | 12,931 |  | $ | 18,187 |
Property, plant and equipment, net |  |  | 398,575 |  |  | 941 |  | $ | 366 |  |  | 399,882 |
Other assets |  |  | — |  |  | — |  |  | 302 |  |  | 302 |
Total Assets |  | $ | 403,819 |  | $ | 953 |  | $ | 13,599 |  | $ | 418,371 |
Liabilities and Partners’ Capital |  |  |  |  |  |  |  |  |  |  |  |  |
Total current liabilities |  | $ | 3,702 |  | $ | 50 |  | $ | 1,618 |  | $ | 5,370 |
Total long-term liabilities |  |  | 18,520 |  |  | — |  |  | 212,999 |  |  | 231,519 |
Total Liabilities |  |  | 22,222 |  |  | 50 |  |  | 214,617 |  |  | 236,889 |
Partners’ Capital |  |  | 381,597 |  |  | 903 |  |  | (201,018) |  |  | 181,482 |
Total Liabilities and Partners’ Capital |  | $ | 403,819 |  | $ | 953 |  | $ | 13,599 |  | $ | 418,371 |
The following table presents financial information by segment as of December 31, 2015:
|  | Gathering & |  |  |  |  | Corporate and |  | Azure Midstream |
In thousands |  | Processing |  | Logistics |  | Consolidation |  | Partners, LP |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 6,489 |  | $ | 1,565 |  | $ | 10,831 |  | $ | 18,885 |
Property, plant and equipment, net |  |  | 483,763 |  |  | 993 |  | $ | 399 |  |  | 485,155 |
Intangible assets, net |  |  | — |  |  | 59,583 |  |  | — |  |  | 59,583 |
Other assets (1) |  |  | — |  |  | — |  |  | 341 |  |  | 341 |
Total Assets |  | $ | 490,252 |  | $ | 62,141 |  | $ | 11,571 |  | $ | 563,964 |
Liabilities and Partners’ Capital |  |  |  |  |  |  |  |  |  |  |  |  |
Total current liabilities |  | $ | 3,691 |  | $ | 54 |  | $ | 2,569 |  | $ | 6,314 |
Total long-term liabilities (1) |  |  | 11,625 |  |  | — |  |  | 229,578 |  |  | 241,203 |
Total Liabilities |  |  | 15,316 |  |  | 54 |  |  | 232,147 |  |  | 247,517 |
Partners’ Capital |  |  | 474,936 |  |  | 62,087 |  |  | (220,576) |  |  | 316,447 |
Total Liabilities and Partners’ Capital |  | $ | 490,252 |  | $ | 62,141 |  | $ | 11,571 |  | $ | 563,964 |
_____________________________ (1) Includes reclassification of deferred loan costs of $3.3 million from other assets to total long-term liabilities.

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