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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The table below presents the purchase price (in thousands):

Base purchase price:			$	624,700
Add: closing net working capital (as defined in the 3 Bear Purchase Agreement)			3,600
Less: closing indebtedness (as defined in the 3 Bear Purchase Agreement)			(80,618)
Cash paid for the adjusted purchase price			547,682
Cash paid to payoff 3 Bear credit agreement (as defined in the 3 Bear Purchase Agreement)			80,618
Purchase price			$	628,300

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Purchase Price Allocation

The following table summarizes the final fair values of assets acquired and liabilities assumed in the Delaware Gathering Acquisition as of June 1, 2022 (in thousands):

Assets acquired:
Cash and cash equivalents						$	2,678
Accounts receivables, net						28,859
Inventories						1,836
Other current assets						986
Property, plant and equipment						382,799
Operating lease right-of-use assets						7,427
Goodwill						14,848
Customer relationship intangible, net						210,000
Rights-of-way						13,490
Other non-current assets						500
Total assets acquired						663,423
Liabilities assumed:
Accounts payable						8,020
Accrued expenses and other current liabilities						22,382
Current portion of operating lease liabilities						1,029
Asset retirement obligations						2,261
Operating lease liabilities, net of current portion						1,431
Total liabilities assumed						35,123
Fair value of net assets acquired						$	628,300

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

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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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