

Entity		Ownership Interest
BridgeTex Pipeline Company, LLC (“BridgeTex”)		30%
Double Eagle Pipeline LLC (“Double Eagle”)		50%
HoustonLink Pipeline Company, LLC (“HoustonLink”)		50%
MVP Terminalling, LLC (“MVP”)		50%
Powder Springs Logistics, LLC (“Powder Springs”)		50%
Saddlehorn Pipeline Company, LLC (“Saddlehorn”)		30%
Seabrook Logistics, LLC (“Seabrook”)		50%
Texas Frontera, LLC (“Texas Frontera”)		50%

In the first quarter of 2020, we sold a 10% interest in Saddlehorn to an affiliate of Black Diamond Gathering LLC, which is majority-owned by Noble Midstream Partners LP, reducing our ongoing investment in Saddlehorn to a 30% interest. We received $79.9 million in cash from the sale, and we recorded a gain of $12.9 million on our consolidated statements of income for the six month period ended June 30, 2020.

We serve as operator of BridgeTex, HoustonLink, MVP, Powder Springs, Saddlehorn, Texas Frontera and the pipeline activities of Seabrook. We receive fees for management services as well as reimbursement or payment to us for certain direct operational payroll and other overhead costs. The management fees we receive are reported as affiliate management fee revenue on our consolidated statements of income. Cost reimbursements we receive from these entities in connection with our operating services are included as reductions to costs and expenses on our consolidated statements of income and totaled $1.1 million and $1.0 million during the three months ended June 30, 2019 and 2020, respectively, and $2.6 million and $2.2 million during the six months ended June 30, 2019 and 2020, respectively.

We recorded the following revenue and expense transactions from certain of these non-controlled entities in our consolidated statements of income (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2020		2019		2020
Transportation and terminals revenue:
BridgeTex, pipeline capacity and storage	$	10,181	$	12,677	$	20,326	$	23,425
Double Eagle, throughput revenue	$	1,572	$	1,421	$	3,231	$	3,021
Saddlehorn, storage revenue	$	551	$	565	$	1,103	$	1,131
Operating expenses:
Seabrook, storage lease and ancillary services	$	6,241	$	7,479	$	13,150	$	14,378
Other operating income:
Seabrook, gain on sale of air emission credits	$	—	$	—	$	—	$	1,410



	December 31, 2019
	Trade Accounts Receivable		Other Accounts Receivable		Other Accounts Payable		Long-Term Receivables
BridgeTex	$	392	$	26	$	—	$	—
Double Eagle	$	445	$	—	$	—	$	—
HoustonLink	$	60	$	—	$	—	$	—
MVP	$	—	$	418	$	—	$	—
Powder Springs	$	161	$	—	$	—	$	6,006
Saddlehorn	$	—	$	126	$	—	$	—
Seabrook	$	941	$	—	$	1,349	$	—



	June 30, 2020
	Trade Accounts Receivable		Other Accounts Receivable		Other Accounts Payable		Long-Term Receivables
BridgeTex	$	273	$	2,054	$	—	$	—
Double Eagle	$	480	$	—	$	—	$	—
MVP	$	—	$	422	$	—	$	—
Powder Springs	$	47	$	—	$	—	$	8,219
Saddlehorn	$	—	$	236	$	—	$	—
Seabrook	$	768	$	—	$	3,976	$	—

We are a party to a long-term terminalling and storage contract with Seabrook for exclusive use of dedicated tankage that provides our customers with crude oil storage capacity and dock access for crude oil imports and exports on the Texas Gulf Coast (see Note 7 – Leases for more details regarding this lease).

The financial results from MVP, Powder Springs and Texas Frontera are included in our refined products segment and the financial results from BridgeTex, Double Eagle, HoustonLink, Saddlehorn and Seabrook are included in our crude oil segment, each as earnings of non-controlled entities.




Investments at 12/31/2019	$	1,240,551
Additional investment	59,458
Sale of ownership interest in Saddlehorn	(66,989		)
Earnings of non-controlled entities:
Proportionate share of earnings	78,265
Amortization of excess investment and capitalized interest	(916		)
Earnings of non-controlled entities	77,349
Less:
Distributions from operations of non-controlled entities	102,699
Investments at 6/30/2020	$	1,207,670