DEBT AND FINANCING COSTS (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of Financing Costs, Net

The following table presents the components of Altus Midstream’s interest income and financing costs, net of capitalized interest:

	Three Months Ended March 31,
	2019			2018(1)
	(In thousands)
Interest income	$	2,161		$	—
Interest income	$	2,161		$	—
Interest expense	$	709		$	2,490
Amortization of deferred facility fees	193			—
Capitalized interest	(394		)	(2,490		)
Financing costs, net of capitalized interest	$	508		$	—

(1)

Prior to the Business Combination, the Company’s operations were funded entirely by contributions from Apache. Accordingly, Apache allocated a portion of interest on its corporate debt in determining capitalized interest associated with the development of Alpine High infrastructure. Refer to Note 3 — Transactions with Affiliates for further information.