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REVENUE (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following is a summary of revenues disaggregated by segment:

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2025						2024						2025						2024
			(millions)
Pipeline (a)			$	169					$	112					$	514					$	328
Gathering			145						136						412						404
Total operating revenues			$	314					$	248					$	926					$	732

__________________________________

(a) Includes income outside the scope of ASC 606 primarily related to contracts accounted for as leases of $18 million and $2 million for the three months ended September 30, 2025 and 2024, respectively, and $60 million and $6 million for the nine months ended September 30, 2025 and 2024, respectively. The lease income increased for the nine months ended September 30, 2025 from the operating lease obtained as part of the Midwest Pipeline Acquisition.

Summary of Contact Liability Activity

The following is a summary of contract liability activity:

			2025
			(millions)
Balance as of January 1			$	153
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period			55
Revenue recognized that was included in the balance at the beginning of the period			(29)
Balance as of September 30			$	179

Revenue Expected to be Recognized in Future Periods

The following table presents contract liability amounts as of September 30, 2025 that are expected to be recognized as revenue in future periods:

			(millions)
Remainder of 2025			$	6
2026			22
2027			23
2028			21
2029			21
2030 and thereafter			86
Total			$	179

The following table presents revenue amounts related to fixed consideration associated with unsatisfied performance obligations as of September 30, 2025 that are expected to be recognized as revenue in future periods:

			(millions)
Remainder of 2025			$	71
2026			265
2027			260
2028			210
2029			174
2030 and thereafter			375
Total			$	1,355

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- Definition

Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-SubTopic 10
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

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