EQUITY METHOD INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

As of June 30, 2023, the Company owned investments in the following long-haul pipeline entities in the Permian Basin. These investments were accounted for using the equity method of accounting. For each EMI pipeline entity, the Company has the ability to exercise significant influence based on certain governance provisions and its participation in the significant activities and decisions that impact the management and economic performance of the EMI pipeline. The table below presents the ownership percentages and investment balances held by the Company for each entity:

		June 30,		December 31,
	Ownership	2023		2022
		(In thousands)
Permian Highway Pipeline LLC ("PHP")	53.3%	$	1,603,140	$	1,474,800
Breviloba, LLC ("Breviloba")	33.0%	448,816		455,057
Gulf Coast Express Pipeline LLC ("GCX")	16.0%	438,156		451,483
		$	2,490,112	$	2,381,340

The following table presents the activity in the Company’s EMIs for the six months ended June 30, 2023:

	Permian Highway Pipeline LLC		Breviloba, LLC		Gulf Coast Express Pipeline LLC		Total
	(In thousands)
Balance at December 31, 2022	$	1,474,800	$	455,057	$	451,483	$	2,381,340
Acquisitions	—		—				—
Contributions	150,331		—		—		150,331
Distributions	(88,395)		(21,467)		(32,161)		(142,023)
Capitalized interest	4,390		—		—		4,390
Equity income, net(1)	62,014		15,226		18,834		96,074
Balance at June 30, 2023	$	1,603,140	$	448,816	$	438,156	$	2,490,112

(1)For the six months ended June 30, 2023, net of amortization of basis differences and capitalized interests, which represents undistributed earnings, the amortization was $3.7 million from PHP, $0.3 million from Breviloba, LLC and $3.1 million from GCX.

Schedule of Equity Method Investment, Summarized Financial Information

The following tables represent selected data for the Company’s EMI pipelines (on a 100 percent basis) for the three and six months ended June 30, 2023 and 2022.

	Three Months Ended June 30,
	2023						2022
	Permian Highway Pipeline LLC		Breviloba, LLC		Gulf Coast Express Pipeline LLC		Permian Highway Pipeline LLC		Breviloba, LLC		Gulf Coast Express Pipeline LLC
	(In thousands)
Revenues	$	99,095	$	46,641	$	90,860	$	98,808	$	50,091	$	90,769
Operating income	63,507		22,547		66,256		61,294		25,359		64,816
Net income	64,342		22,651		66,400		61,307		25,284		64,461

	Six Months Ended June 30,
	2023						2022
	Permian Highway Pipeline LLC		Breviloba, LLC		Gulf Coast Express Pipeline LLC		Permian Highway Pipeline LLC		Breviloba, LLC		Gulf Coast Express Pipeline LLC
	(In thousands)
Revenues	$	191,935	$	92,542	$	180,608	$	196,664	$	98,612	$	180,742
Operating income	120,312		44,496		131,472		120,770		51,672		128,259
Net income	124,032		44,863		137,491		120,520		51,651		127,990