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Segment Data (Tables) | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following is a summary of business segment operating performance as measured by segment EBITDA for the periods indicated:
|  | Year Ended December 31, 2025
|  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Total
Net revenues: |  |  |  |  |  |  |  |  |  |
Affiliate (1) |  | $ | 170,330 |  |  | $ | 237,007 |  |  | $ | 92,134 |  |  | $ | — |  |  | $ | 499,471 |
Third party |  | 327,767 |  |  | 180,628 |  |  | 5,457 |  |  | — |  |  | 513,852 |
Total revenue |  | 498,097 |  |  | 417,635 |  |  | 97,591 |  |  | — |  |  | 1,013,323 |
Cost of materials and other |  | 113,202 |  |  | 342,187 |  |  | 53,794 |  |  | — |  |  | 509,183 |
Operating expenses |  | 128,213 |  |  | 9,359 |  |  | 18,363 |  |  | — |  |  | 155,935 |
Proportional EBITDA from equity method investments |  | — |  |  | — |  |  | — |  |  | (88,150) |  |  | (88,150) |
Other segment items (2) |  | (2,845) |  |  | 3,155 |  |  | (419) |  |  | — |  |  | (109) |
Segment EBITDA |  | $ | 259,527 |  |  | $ | 62,934 |  |  | $ | 25,853 |  |  | $ | 88,150 |  |  | 436,464 |
Reconciling items to consolidated net income before income taxes: |  |  |  |  |  |  |  |  |  |
Corporate expenses and other |  |  |  |  |  |  |  |  |  | 40,810 |
Proportional interest, taxes, depreciation and amortization from equity-method investments |  |  |  |  |  |  |  |  |  | 26,357 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 125,600 |
Interest income |  |  |  |  |  |  |  |  |  | (112,517) |
Interest expense |  |  |  |  |  |  |  |  |  | 179,296 |
Income tax expense |  |  |  |  |  |  |  |  |  | 458 |
Net income |  |  |  |  |  |  |  |  |  | $ | 176,460 |
|  | Year Ended December 31, 2024
|  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Total
Net revenues: |  |  |  |  |  |  |  |  |  |
Affiliate (1) |  | $ | 180,763 |  |  | $ | 221,503 |  |  | $ | 115,516 |  |  | $ | — |  |  | $ | 517,782 |
Third party |  | 183,956 |  |  | 230,019 |  |  | 8,879 |  |  | — |  |  | 422,854 |
Total revenue |  | 364,719 |  |  | 451,522 |  |  | 124,395 |  |  | — |  |  | 940,636 |
Cost of materials and other |  | 77,037 |  |  | 349,049 |  |  | 57,539 |  |  | — |  |  | 483,625 |
Operating expenses |  | 80,317 |  |  | 14,820 |  |  | 18,299 |  |  | — |  |  | 113,436 |
Proportional EBITDA from equity method investments |  | — |  |  | — |  |  | — |  |  | (59,098) |  |  | (59,098) |
Other segment items (2) |  | 215 |  |  | (4,076) |  |  | 232 |  |  | — |  |  | (3,629) |
Segment EBITDA |  | $ | 207,150 |  |  | $ | 91,729 |  |  | $ | 48,325 |  |  | $ | 59,098 |  |  | 406,302 |
Reconciling items to consolidated net income before income taxes: |  |  |  |  |  |  |  |  |  |
Corporate expenses and other |  |  |  |  |  |  |  |  |  | 43,592 |
Proportional interest, taxes, depreciation and amortization from equity-method investments |  |  |  |  |  |  |  |  |  | 15,797 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 96,375 |
Amortization of marketing contract intangible |  |  |  |  |  |  |  |  |  | 4,206 |
Interest income |  |  |  |  |  |  |  |  |  | (47,792) |
Interest expense |  |  |  |  |  |  |  |  |  | 150,960 |
Income tax expense |  |  |  |  |  |  |  |  |  | 479 |
Net income |  |  |  |  |  |  |  |  |  | $ | 142,685 |
|  | Year ended December 31, 2023
|  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Total
Net revenues: |  |  |  |  |  |  |  |  |  |
Affiliate (1) |  | $ | 212,537 |  |  | $ | 218,997 |  |  | $ | 132,269 |  |  | $ | — |  |  | $ | 563,803 |
Third party |  | 158,573 |  |  | 286,704 |  |  | 11,329 |  |  | — |  |  | 456,606 |
Total revenue |  | 371,110 |  |  | 505,701 |  |  | 143,598 |  |  | — |  |  | 1,020,409 |
Cost of materials and other |  | 83,118 |  |  | 388,536 |  |  | 63,710 |  |  | — |  |  | 535,364 |
Operating expenses |  | 75,136 |  |  | 17,796 |  |  | 18,104 |  |  | 9 |  |  | 111,045 |
Proportional EBITDA from equity method investments |  | — |  |  | — |  |  | — |  |  | (38,231) |  |  | (38,231) |
Other segment items (2) |  | 13,393 |  |  | (7,143) |  |  | (2,066) |  |  | — |  |  | 4,184 |
Segment EBITDA |  | $ | 199,463 |  |  | $ | 106,512 |  |  | $ | 63,850 |  |  | $ | 38,222 |  |  | 408,047 |
Reconciling items to consolidated net income before income taxes: |  |  |  |  |  |  |  |  |  |
Corporate expenses and other |  |  |  |  |  |  |  |  |  | 30,969 |
Proportional interest, taxes, depreciation and amortization from equity-method investments |  |  |  |  |  |  |  |  |  | 6,798 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 92,384 |
Amortization of marketing contract intangible |  |  |  |  |  |  |  |  |  | 7,211 |
Interest expense |  |  |  |  |  |  |  |  |  | 143,244 |
Income tax expense |  |  |  |  |  |  |  |  |  | 1,205 |
Net income |  |  |  |  |  |  |  |  |  | $ | 126,236 |
(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible of $4.2 million and $7.2 million for the years ended December 31, 2024 and 2023, respectively. There was no amortization recorded during the year ended December 31, 2025, related to this intangible, as the associated agreement was terminated on August 5, 2024. (2) Other segment items include general and administrative expense, other operating (income) loss and other income. Additionally, the wholesale marketing and terminalling segment includes amortization of the marketing contract intangible for the years ended December 31, 2024 and 2023.
The following is a summary of other segment information for the periods indicated:
|  | Year Ended December 31, 2025
|  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Depreciation and amortization |  | $ | 113,451 |  |  | $ | 3,465 |  |  | $ | 5,633 |  |  | $ | — |  |  | $ | 3,051 |  |  | $ | 125,600 |
Interest income |  | $ | 43,764 |  |  | $ | 16,154 |  |  | $ | 52,599 |  |  | $ | — |  |  | $ | — |  |  | $ | 112,517 |
Capital spending (1) |  | $ | 266,496 |  |  | $ | 1,469 |  |  | $ | 6,398 |  |  | $ | — |  |  | $ | — |  |  | $ | 274,363 |
|  | Year Ended December 31, 2024
|  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Depreciation and amortization |  | $ | 80,144 |  |  | $ | 5,256 |  |  | $ | 7,609 |  |  | $ | — |  |  | $ | 3,366 |  |  | $ | 96,375 |
Interest income |  | $ | 23,338 |  |  | $ | 8,546 |  |  | $ | 15,908 |  |  | $ | — |  |  | $ | — |  |  | $ | 47,792 |
Amortization of marketing contract intangible |  | $ | — |  |  | $ | 4,206 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,206 |
Capital spending (1) |  | $ | 128,927 |  |  | $ | 2,727 |  |  | $ | 8,332 |  |  | $ | — |  |  | $ | — |  |  | $ | 139,986 |
|  | Year ended December 31, 2023
|  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Depreciation and amortization |  | $ | 72,181 |  |  | $ | 7,055 |  |  | $ | 9,839 |  |  | $ | — |  |  | $ | 3,309 |  |  | $ | 92,384 |
Amortization of marketing contract intangible |  | $ | — |  |  | $ | 7,211 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7,211 |
Capital spending (1) |  | $ | 74,683 |  |  | $ | 2,111 |  |  | $ | 4,548 |  |  | $ | — |  |  | $ | — |  |  | $ | 81,342 |
(1) Capital spending includes additions on an accrual basis.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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