INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Total Income Tax Provision (Benefit)

The total income tax provision (benefit) consists of the following:



	Year Ended December 31,					Period from May 26, 2016 (Inception) through December 31,
	2018			2017		2016
	(In thousands)
Current income taxes:
Federal	$	(1,041	)	$	—	$	—
State	—			—		—
	(1,041		)	—		—
Deferred income taxes:
Federal	(10,464		)	5,413		—
State	1,004			1,628		—
	(9,460		)	7,041		—
Total	$	(10,501	)	$	7,041	$	—

Reconciliation of Tax on Income (Loss) Before Income Taxes and Total Tax Expense (Benefit)

The total income tax provision (benefit) differs from the amounts computed by applying the U.S. statutory income tax rate to income (loss) before income taxes. A reconciliation of the tax on the Company’s income (loss) from continuing operations before income taxes and total tax expense is shown below:



	Year Ended December 31,						Period from May 26, 2016 (Inception) through December 31,
	2018			2017			2016
	(In thousands)
Income tax expense (benefit) at U.S. statutory rate	$	(2,255	)	$	(4,037	)	$	—
Partnership income not subject to tax	(891		)	—			—
State tax expense	818			1,058			—
Change in U.S. tax rate	—			1,843			—
Valuation allowance	(8,177		)	8,177			—
All other, net	4			—			—
Income tax expense (benefit)	$	(10,501	)	$	7,041		$	—

Net Deferred Tax Assets (Liabilities)

The net deferred income tax liability consists of the following:



	December 31,
	2018		2017
	(In thousands)
Deferred tax assets:
Investment in partnership	$	65,851	$	—
Asset retirement obligation	220		3,956
Net operating losses	495		48,024
Other	1,212		530
Total deferred tax assets	67,778		52,510
Valuation allowance	—		(8,177		)
Net deferred tax assets	67,778		44,333
Deferred tax liabilities:
Property, plant and equipment	2,863		51,374
Net deferred tax assets / (liabilities)	$	64,915	$	(7,041	)

Net deferred tax assets and liabilities are included in the balance sheet as follows:



	December 31,
	2018		2017
	(In thousands)
Assets:
Deferred tax asset	$	67,558	$	—
Liabilities:
Deferred tax liability	2,643		7,041
Net deferred tax assets (liabilities)	$	64,915	$	(7,041	)