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EQUITY AND MEZZANINE EQUITY (Tables)

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Schedule of Number of Shares of Common Stock and Number of Partnership Common Units Not Owned

An update on the number of shares of common stock follows for the period from December 31, 2024 to September 30, 2025:

						Shares of Common Stock
Shares, December 31, 2024						10,659,220
Conversion of Class B Common Stock and Partnership Common Units						946,541
Shares issued for SMLP LTIP, net						193,928
Moonrise Acquisition						462,265
Shares, September 30, 2025						12,261,954

An update on the number of Partnership Common Units not owned by the Company follows for the period from December 31, 2024 to September 30, 2025.

			Partnership Common Units
Units, December 31, 2024			7,471,008
Conversion of Partnership Common Units			(946,541)
Units, September 30, 2025			6,524,467

Schedule of Stock by Class

An update on the number of shares of Class B Common Stock follows for the period from December 31, 2024 to September 30, 2025.

			Shares of Class B Common Stock
Shares, December 31, 2024			7,471,008
Conversion of Class B Common Stock			(946,541)
Shares, September 30, 2025			6,524,467

Schedule of Change in Subsidiary

The following table shows the change in the Company’s Subsidiary Series A Preferred Unit balance from December 31, 2024 to September 30, 2025, net of $0.7 million and $1.1 million of unamortized issuance costs as of September 30, 2025 and December 31, 2024, respectively:

			(In thousands)
Balance, December 31, 2024			$	132,946
Redemption accretion, net of issuance cost amortization			11,040
Cash distribution (includes a $1.6 million distribution payable as of September 30, 2025)			(4,885)
Balance, September 30, 2025			$	139,101

Schedule of Noncontrolling Interest

The following table shows the changes in noncontrolling interest during the periods presented:

						Noncontrolling Interest
						(In thousands)
Balance, December 31, 2024						$	497,333
Net loss						(4,525)
Equity shift - Change in Ownership of Consolidated Subsidiary						(86,729)
Balance as of September 30, 2025						$	406,079

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