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Equity Method Investments | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | Equity Method Investments The Partnership owns a 33% membership interest in Red River Pipeline Company LLC ("Red River"), a joint venture operated with Plains Pipeline, L.P. Red River owns a 16-inch crude oil pipeline running from Cushing, Oklahoma to Longview, Texas with capacity of 235,000 bpd. During the years ended December 31, 2023 and 2022, we made no additional capital contributions. During the year ended December 31, 2021, we made capital contributions of $1.4 million based on capital calls received. We have two additional pipeline joint ventures, in which we own a 50% membership interest in the entity formed with an affiliate of Plains All American Pipeline, L.P. ("CP LLC") to operate one of these pipeline systems and a 33% membership interest in the entity formed with Andeavor Logistics RIO Pipeline LLC ("Andeavor Logistics") to operate the other pipeline system. Combined summarized financial information on a 100% basis is shown below (in thousands):
| As of December 31, 2023 |  | As of December 31, 2022
Current Assets | $ | 55,948 |  |  | $ | 52,253 |
Non-current Assets | $ | 607,002 |  |  | $ | 626,165 |
Current liabilities | $ | 8,994 |  |  | $ | 7,117 |
Non-current liabilities | $ | 63 |  |  | $ | — |
|  |  | Years Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Revenues |  |  |  |  | $ | 139,699 |  |  | $ | 140,634 |  |  | $ | 114,392 |
Gross profit |  |  |  |  | $ | 89,132 |  |  | $ | 88,575 |  |  | $ | 67,809 |
Operating income |  |  |  |  | $ | 84,349 |  |  | $ | 85,096 |  |  | $ | 65,023 |
Net income |  |  |  |  | $ | 85,636 |  |  | $ | 85,311 |  |  | $ | 64,979 |
The Partnership's investment balances in these joint ventures were as follows (in thousands):
| As of December 31, 2023 |  | As of December 31, 2022
Red River | $ | 141,091 |  |  | $ | 149,635 |
CP LLC | 61,273 |  |  | 64,056 |
Andeavor Logistics | 38,973 |  |  | 43,331 |
Total Equity Method Investments | $ | 241,337 |  |  | $ | 257,022 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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