Transactions With Related Parties

9 Months Ended

Sep. 30, 2015

Transactions with Related Parties

Sales, purchases and other transactions with affiliated companies, in the opinion of management, are conducted under terms no more or less favorable than then-existing market conditions. The transactions with related parties were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Revenues:
Sales of CO₂ to Sandhill Group, LLC ⁽¹⁾	$	913	$	867	$	2,418	$	2,235
Sales to Poseidon Oil Pipeline Company, LLC ⁽²⁾	1,980		—		1,980		—
Sales to Deepwater Gateway, LLC ⁽³⁾	33		—		33		—
Costs and expenses:
Amounts paid to our CEO in connection with the use of his aircraft	$	165	$	150	$	525	$	450
Expenses from Poseidon Oil Pipeline Company, LLC ⁽²⁾	241		—		241		—
Expenses from Deepwater Gateway, LLC ⁽³⁾	—		—		—		—


(1)	We own a 50% interest in Sandhill Group, LLC.


(2)	We own 64% interest in Poseidon Oil Pipeline Company, LLC.


(3)	We own a 50% interest in Deepwater Gateway, LLC.

Amount due from Related Party

At September 30, 2015 and December 31, 2014 Sandhill Group, LLC owed us $0.3 million, respectively, for purchases of CO₂.

Transactions with Unconsolidated Affiliates

Poseidon

As part of our Enterprise acquisition, we became the operator of Poseidon in the third quarter of 2015. We provide management, administrative and pipeline operator services to Poseidon under an Operation and Management Agreement . Currently, that agreement renews automatically annually unless terminated by either party (as defined in the agreement). Our revenues for the three and nine months ended September 30, 2015 reflect $2 million, respectively, of fees we earned through the provision of services under that agreement.

Deepwater Gateway

As part of our Enterprise acquisition, we became the operator of Deepwater Gateway in the third quarter of 2015. We provide technical and administrative services to Deepwater Gateway under a Management Services Agreement. That agreement continues indefinitely until either party decides to exercise their termination rights (as defined in the agreement). Our revenues for the three and nine months ended September 30, 2015 reflect less than $0.1 million, respectively, of fees we earned through the provision of services under that agreement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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