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SUBSEQUENT EVENTS
 6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Dividend Declaration
On July 30, 2024, we announced that our Board of Directors declared a quarterly dividend of $0.735 per share of common stock. The dividend is payable to our stockholders of record as of September 16, 2024 and is expected to be paid on October 15, 2024.
Clean Fuels Gathering Project Acquisition
On July 1, 2024, DT Midstream closed on the purchase of a clean fuels gathering project from a privately-held coal mine methane producer for a cash payment of $12 million. The acquisition was comprised of gathering and treating assets that process coal mine methane into pipeline quality natural gas. The acquisition aligns with our strategy to pursue economically attractive opportunities and deploy GHG reducing technologies and is expected to generate carbon offsets and federal income tax credits for clean fuel production. A contingent payment of $10 million is expected to be paid within the next 12 months upon the completion of a milestone. Additionally, if certain cumulative production and income tax credit milestones are achieved, DT Midstream will be required to make incremental contingent payments in future years of up to $24 million and variable payments under a sharing mechanism that could be material.
Due to the timing of the acquisition subsequent to June 30, 2024, certain accounting and disclosures, including whether the acquisition will be treated as a business combination or asset acquisition, and the allocation of purchase price, will be finalized and recorded in our subsequent quarterly report on the Form 10-Q.