Related Party Transactions |
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Related Party Transactions | (4) Related Party Transactions (a) Transactions with the Cedar Cove JV We process natural gas and purchase the related residue natural gas and NGLs from the Cedar Cove JV. We recorded the following amounts (in millions) on our consolidated balance sheets related to our transactions with the Cedar Cove JV:
We recorded the following amounts (in millions) on our consolidated statements of operations related to our transactions with the Cedar Cove JV:
(b) Transactions with GIP GIP Repurchase Agreement. On January 16, 2024, we entered into a new repurchase agreement with GIP with terms substantially similar to the repurchase agreement with GIP for 2023 entered into on December 20, 2022, which repurchase agreement terminated on December 31, 2023 in accordance with its terms. The current repurchase agreement will renew for successive one-year terms (each, a “Renewal Year”) on January 1 of each Renewal Year, with the first Renewal Year beginning on January 1, 2025, unless either the Company or the GIP Entities elects to terminate the Repurchase Agreement prior to the start of any Renewal Year, during a two-week period in December preceding the applicable Renewal Year. See “Note 8—Members’ Equity” for additional information on the activity related to the GIP repurchase agreement.
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