XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.24.3

SEGMENT INFORMATION | 9 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | 16. SEGMENT INFORMATION As of September 30, 2024, the Company’s reportable segments are: •Rockies – Includes the Company’s wholly owned midstream assets located in the Williston Basin and the DJ Basin. •Permian – Includes the Company’s equity method investment in Double E. •Northeast – Included the operations of the Company’s wholly owned midstream assets located in the Marcellus shale play and its wholly owned midstream assets located in the Utica shale play together with its equity method investment in Ohio Gathering that is focused on the Utica Shale. On March 22, 2024 and May 1, 2024, the Partnership completed the Utica Sale and Mountaineer Transaction, respectively. For additional information regarding the Utica Sale and Mountaineer Transaction, see Note 3 - Divestitures regarding the disposition of Northeast assets. •Piceance – Includes the Company’s wholly owned midstream assets located in the Piceance Basin. •Barnett – Includes the Company’s wholly owned midstream assets located in the Barnett Shale. Corporate and Other represents those results that: (i) are not specifically attributable to a reportable segment; (ii) are not individually reportable; or (iii) have not been allocated to our reportable segments, including certain general and administrative expense items, transaction costs, acquisition integration costs and interest expense. Assets by reportable segment follow.
| September 30, 2024 |  | December 31, 2023
| (In thousands)
Assets: |  |  |
Rockies | $ | 904,005 |  |  | $ | 904,974 |
Permian | 284,171 |  |  | 291,073 |
Northeast | 1,257 |  |  | 573,663 |
Piceance | 399,704 |  |  | 431,687 |
Barnett | 274,322 |  |  | 281,861 |
Total reportable segment assets | 1,863,459 |  |  | 2,483,258 |
Corporate and Other | 135,707 |  |  | 10,940 |
Total assets | $ | 1,999,166 |  |  | $ | 2,494,198 |
Segment adjusted EBITDA by reportable segment follows.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In thousands)
Reportable segment adjusted EBITDA(1) |  |  |  |  |  |  |
Rockies | $ | 24,850 |  |  | $ | 24,998 |  |  | $ | 70,582 |  |  | $ | 64,986 |
Permian | 8,472 |  |  | 5,840 |  |  | 23,434 |  |  | 16,283 |
Northeast | — |  |  | 27,751 |  |  | 30,634 |  |  | 65,806 |
Piceance | 12,831 |  |  | 15,292 |  |  | 40,912 |  |  | 43,640 |
Barnett | 7,278 |  |  | 6,084 |  |  | 17,798 |  |  | 20,380 |
Total of reportable segments’ measures of profit | $ | 53,431 |  |  | $ | 79,965 |  |  | $ | 183,360 |  |  | $ | 211,095 |
A reconciliation of income or loss before income taxes and income from equity method investees to total of reportable segments’ measures of profit follows.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In thousands)
Reconciliation of income (loss) before income taxes and income from equity method investees to total of reportable segments’ measures of profit: |  |  |  |  |  |  |
Income (loss) before income taxes and income from equity method investees | $ | (59,878) |  |  | $ | (6,265) |  |  | $ | 33,909 |  |  | $ | (46,311) |
Add: |  |  |  |  |  |  |
Corporate and Other expense | 10,201 |  |  | 5,478 |  |  | 21,598 |  |  | 20,650 |
Interest expense | 25,712 |  |  | 34,568 |  |  | 95,015 |  |  | 103,966 |
Depreciation and amortization (1) | 23,774 |  |  | 31,013 |  |  | 76,028 |  |  | 91,438 |
Proportional adjusted EBITDA for equity method investees (2) | 7,585 |  |  | 16,917 |  |  | 35,102 |  |  | 42,655 |
Adjustments related to capital reimbursement activity | (2,283) |  |  | (3,111) |  |  | (7,934) |  |  | (6,778) |
Equity compensation | 1,840 |  |  | 1,396 |  |  | 6,698 |  |  | 5,158 |
(Gain) loss on asset sales, net | (6) |  |  | (40) |  |  | 1 |  |  | (183) |
(Gain) loss on sale of business | 1,672 |  |  | 9 |  |  | (82,338) |  |  | 45 |
Gain on sale of equity method investment | — |  |  | — |  |  | (126,261) |  |  | — |
Long-lived asset impairment | — |  |  | — |  |  | 67,936 |  |  | 455 |
Transaction costs and other | 2,579 |  |  | — |  |  | 16,407 |  |  | — |
Early extinguishment of debt | 42,235 |  |  | — |  |  | 47,199 |  |  | — |
Total of reportable segments’ measures of profit | $ | 53,431 |  |  | $ | 79,965 |  |  | $ | 183,360 |  |  | $ | 211,095 |
________ (1) Includes the amortization expense associated with our favorable gas gathering contracts as reported in other revenues. (2) The Company recorded financial results of its investment in Ohio Gathering on a one-month lag and is based on the financial information available to us during the reporting period. With the divestiture of Ohio Gathering in March 2024, proportional adjusted EBITDA includes financial results from December 1, 2023 through March 22, 2024.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration