Annual report pursuant to Section 13 and 15(d)

Additional Financial Statement Information

v3.22.0.1
Additional Financial Statement Information
12 Months Ended
Dec. 31, 2021
Additional Financial Statement Information  
Additional Financial Statement Information

3.Additional Financial Statement Information

Balance Sheet Other Balance Sheet information is as follows:

(in thousands)

    

December 31, 

    

2021

    

2020

Other Receivables

Insurance and Third Party Receivables for Remediation Expenses

$

3,099

$

2,543

Reimbursable Projects

1,018

Capital Call Receivable

1,160

Other

9

19

Total Other Receivables

$

4,126

$

3,722

Prepaids and Deposits

Prepaid Insurance and Other

$

5,953

$

4,243

Deposits

90

72

Total Prepaids and Deposits

$

6,043

$

4,315

Accrued and Other Current Liabilities

Accrued Operating Expense

$

17,774

$

14,367

Accrued Capital Costs

4,603

6,292

Accrued Interest

7,625

2,661

Accrued Bonus

3,955

2,429

Dividends and Distribution Payable (1)

3,847

Other

2,660

2,089

Total Accrued and Other Current Liabilities

$

40,464

$

27,838

(1) See Note 12. Stockholders’ and Members’ Equity.

Statement of Operations Other Statement of Operations information is as follows:

(in thousands)

Year Ended December 31, 

    

2021

    

2020

    

2019

Depreciation, Amortization and Accretion Expense

Depreciation - Property, Plant and Equipment

$

27,880

$

23,388

$

13,450

Amortization - Intangible Assets

32,605

20,413

6,075

Accretion of Asset Retirement Obligations

282

226

145

Total Depreciation, Amortization and Accretion Expense

$

60,767

$

44,027

$

19,670

Other Operating Expenses

Loss (Gain) on Disposal of Asset, Net

$

275

$

133

$

(5,100)

Transaction Costs

335

3,389

1,010

Abandoned Projects (1)

2,047

2,125

2,444

Total Other Operating Expense (Income), Net

$

2,657

$

5,647

$

(1,646)

Interest Expense

Interest on Debt Instruments

$

26,221

$

10,711

$

5,727

Less: Capitalized Interest

(2,791)

(3,820)

(5,978)

Interest on Debt Instruments Less Capitalized Interest

23,430

6,891

(251)

Amortization of Financing Costs

2,043

783

511

Interest Expense, Net

$

25,473

$

7,674

$

260

(1) Abandoned Projects expense is primarily related to expirations of legacy permits and rights-of-way for projects that were not ultimately constructed.

Significant Customers

Customers that comprised more than 10% of our total revenues are as follows:

Year Ended December 31, 

    

2021

    

2020

    

2019

    

ConocoPhillips

46

%

38

%

20

%

Marathon Oil

**

%

**

%

16

%

Oxy USA

10

%

15

%

15

%

XTO Energy Inc.

**

%

10

%

**

%

**

Revenues were less than 10%

As of December 31, 2021, ConocoPhillips accounted for 37%, Chevron Corporation accounted for 11% and Marathon Oil Corporation accounted for 10% of accounts receivable. As of December 31, 2020, ConocoPhillips accounted for 33%, OXY USA Inc. accounted for 15% and Marathon Oil Corporation accounted for 12% of accounts receivable.

Supplemental Non-Cash Disclosure

Significant non-cash activity for the years ended December 31, 2021, 2020 and 2019 is discussed in the following locations:

Non-Cash Item

Location

Cash Paid for Interest

Consolidated Statements of Cash Flows

Cash Paid for Income Taxes

Consolidated Statements of Cash Flows

Non-Cash Investing and Financial Activities

Equity Issued in Acquisitions

Note 4. Acquisitions

Redeemable Preferred Units Issued in Acquisition

Note 4. Acquisitions

Redeemable Preferred Units Converted

Note 10. Redeemable Preferred Units

Accretion and Dividend Related to Redeemable Preferred Units

Consolidated Statements of Stockholders' and Members' Equity

Asset Retirement Obligations

Note 7. Asset Retirement Obligations

Accrued Additions to Property, Plant and Equipment

Note 5. Property, Plant and Equipment