Additional Financial Statement Information (Tables) - Solaris Midstream Holdings, LLC and Subsidiaries
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| Schedule of Other Balance Sheet information |
|
|
|
|
|
|
|
(in thousands) |
|
September 30, |
|
December 31, |
|
|
2021 |
|
2020 |
Other Receivables |
|
|
|
|
|
|
Insurance and Third Party Receivables for Remediation Expenses |
|
$ |
3,624 |
|
$ |
2,543 |
Capital Call Receivable |
|
|
— |
|
|
1,160 |
Other |
|
|
25 |
|
|
19 |
Total Other Receivables |
|
$ |
3,649 |
|
$ |
3,722 |
|
|
|
|
|
|
|
Prepaids, Deposits and Other Current Assets |
|
|
|
|
|
|
Prepaid Insurance and Other |
|
$ |
1,007 |
|
$ |
4,067 |
Prepaid Groundwater |
|
|
294 |
|
|
176 |
Deposits and Other |
|
|
48 |
|
|
72 |
Total Prepaids, Deposits and Other Current Assets |
|
$ |
1,349 |
|
$ |
4,315 |
|
|
|
|
|
|
|
Accrued and Other Current Liabilities |
|
|
|
|
|
|
Accrued Operating Expense |
|
$ |
17,314 |
|
$ |
14,367 |
Accrued Capital Costs |
|
|
9,177 |
|
|
6,292 |
Accrued Interest |
|
|
15,443 |
|
|
2,661 |
Other |
|
|
4,840 |
|
|
4,518 |
Total Accrued and Other Current Liabilities |
|
$ |
46,774 |
|
$ |
27,838 |
|
| Schedule of Other Statement of Operations information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
(in thousands) |
|
September 30, |
|
September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Depreciation, Amortization and Accretion Expense |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation - Property, Plant and Equipment |
|
$ |
7,152 |
|
$ |
6,231 |
|
$ |
20,888 |
|
$ |
16,393 |
Amortization - Intangible Assets |
|
|
8,151 |
|
|
5,455 |
|
|
24,454 |
|
|
14,957 |
Accretion of Asset Retirement Obligations |
|
|
75 |
|
|
65 |
|
|
208 |
|
|
179 |
Total Depreciation, Amortization and Accretion Expense |
|
$ |
15,378 |
|
$ |
11,751 |
|
$ |
45,550 |
|
$ |
31,529 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Loss on Disposal of Asset, Net |
|
$ |
8 |
|
$ |
15 |
|
$ |
225 |
|
$ |
82 |
Transaction Costs |
|
|
253 |
|
|
172 |
|
|
330 |
|
|
3,271 |
Abandoned Projects (1) |
|
|
679 |
|
|
368 |
|
|
2,035 |
|
|
1,501 |
Total Other Operating Expense |
|
$ |
940 |
|
$ |
555 |
|
$ |
2,590 |
|
$ |
4,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense |
|
|
|
|
|
|
|
|
|
|
|
|
Interest on Debt Instruments |
|
$ |
8,034 |
|
$ |
2,686 |
|
$ |
18,402 |
|
$ |
7,877 |
Less: Capitalized Interest |
|
|
(765) |
|
|
(795) |
|
|
(1,981) |
|
|
(3,083) |
Interest on Debt Less Capitalized Interest |
|
|
7,269 |
|
|
1,891 |
|
|
16,421 |
|
|
4,794 |
Amortization of Financing Costs |
|
|
611 |
|
|
208 |
|
|
1,434 |
|
|
570 |
Interest Expense, Net |
|
$ |
7,880 |
|
$ |
2,099 |
|
$ |
17,855 |
|
$ |
5,364 |
(1) Abandoned Projects expense is primarily related to expirations of legacy permits and rights-of-way for projects that were not ultimately constructed.
|
| Schedule of Significant Customers |
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Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
ConocoPhillips |
|
46 |
% |
42 |
% |
49 |
% |
36 |
% |
Oxy USA |
|
** |
|
17 |
% |
10 |
% |
16 |
% |
XTO Energy Inc. |
|
** |
|
10 |
% |
** |
|
11 |
% |
** Revenues were less than 10%
|
| Schedule of Significant non-cash activity |
Significant non-cash activity for the nine months ended September 30, 2021 and 2020 is as follows:
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|
|
|
|
|
|
(in thousands) |
|
Nine Months Ended September 30, |
|
|
2021 |
|
2020 |
Cash Paid for Interest (1) |
|
$ |
5,636 |
|
$ |
5,894 |
Class A Units Issued for Concho Acquisition |
|
|
— |
|
|
77,602 |
Redeemable Preferred Units Issued in Concho Acquisition |
|
|
— |
|
|
71,974 |
Additions to Asset Retirement Obligations |
|
|
533 |
|
|
738 |
Accrued Additions to Property, Plant and Equipment |
|
|
13,352 |
|
|
12,422 |
|
|
|
|
|
|
|
(1) We paid interest of $15.3 million on October 1, 2021 related to our Senior Sustainability-Linked Notes. |
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