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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 239,968 $ 217,085 $ 704,557 $ 621,129
Costs and expenses:        
Cost of operations, exclusive of depreciation and amortization 81,814 74,928 235,048 211,515
Depreciation and amortization 67,237 64,101 195,801 183,626
Selling, general, and administrative 15,364 20,085 52,364 54,136
Loss (gain) on disposition of assets (123) (3,865) 1,113 (3,932)
Impairment of compression equipment 0 882 311 12,346
Total costs and expenses 164,292 156,131 484,637 457,691
Operating income 75,676 60,954 219,920 163,438
Other income (expense):        
Interest expense, net (49,361) (43,257) (144,855) (125,092)
Loss on extinguishment of debt 0 0 (4,966) 0
Gain (loss) on derivative instrument (6,218) 3,437 5,684 17,987
Other 23 23 83 104
Total other expense (55,556) (39,797) (144,054) (107,001)
Net income before income tax expense 20,120 21,157 75,866 56,437
Income tax expense 793 255 1,728 1,010
Net income 19,327 20,902 74,138 55,427
Less: distributions on Preferred Units (4,388) (12,188) (13,163) (36,563)
Net income attributable to common unitholders’ interests $ 14,939 $ 8,714 $ 60,975 $ 18,864
Weighted average common units outstanding - basic (in shares) 117,017 98,292 112,151 98,270
Weighted average common units outstanding - diluted (in shares) 118,256 100,263 113,296 99,915
Basic net income per common unit (in dollars per share) $ 0.13 $ 0.09 $ 0.54 $ 0.19
Diluted net income per common unit (in dollars per share) 0.13 0.09 0.54 0.19
Distributions declared per common unit for respective periods (in dollars per share) $ 0.525 $ 0.525 $ 1.575 $ 1.575
Contract operations        
Revenues:        
Total revenues $ 220,518 $ 204,716 $ 662,265 $ 590,237
Parts and service        
Revenues:        
Total revenues 5,756 7,153 17,043 15,133
Related party        
Revenues:        
Total revenues $ 13,694 $ 5,216 $ 25,249 $ 15,759