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Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table reflects our preliminary determination of the fair value of the Rattler Permian Transaction assets and liabilities (in millions):

Identifiable Assets Acquired and Liabilities Assumed:						Estimated Useful Lives (in years)						Recognized Amount
Property and equipment						3-30						$	483
Intangible assets						10						35
Working capital and other assets and liabilities						N/A						14
												$	532

Schedule of Amortization Expense

Amortization expense was approximately $2 million during the three months ended September 30, 2023, and the future amortization expense for the fourth quarter of 2023 through 2027 is estimated as follows (in millions):

Remainder of 2023												$	2
2024												$	8
2025												$	10
2026												$	4
2027												$	3

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- Definition

Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

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