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EQUITY METHOD INTERESTS
 9 Months Ended
Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY METHOD INTERESTS EQUITY METHOD INTERESTS

As of September 30, 2019, the Company had exercised four of its five Pipeline Options and, as a result, owns the following equity method interests in Permian Basin long-haul pipeline entities. For each of the equity method interests, 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 equity method interests.
 
September 30, 2019
 
December 31, 2018
In thousands, unless stated
Ownership
 
Amount
 
Ownership
 
Amount
Gulf Coast Express Pipeline LLC
16.0
%
 
$
274,727

 
15.0
%
 
$
91,100

EPIC Crude Holdings, LP
15.0
%
 
127,742

 
—
%
 
—

Permian Highway Pipeline LLC
26.7
%
 
224,152

 
—
%
 
—

Breviloba, LLC
33.0
%
 
467,943

 
—
%
 
—

 
 
 
$
1,094,564

 
 
 
$
91,100


    
As of September 30, 2019 and December 31, 2018, unamortized basis differences included in the equity method interest balances were $25.7 million and $5.8 million, respectively. These amounts represent differences in the Company’s contributions to date and Altus’ underlying equity in the separate net assets within the financial statements of the respective entities. Unamortized basis differences will be amortized into net income over the useful lives of the underlying pipeline assets when they are placed into service.
The following table presents the activity in the Company’s equity method interests for the nine months ended September 30, 2019:
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
 
 
 
 
 
 
Total
 
(In thousands)
Balance at December 31, 2018
$
91,100

 
$
—

 
$
—

 
$
—

 
$
91,100

Acquisitions
15,274

 
51,810

 
161,081

 
442,460

 
670,625

Contributions
169,131

 
82,499

 
62,895

 
22,887

 
337,412

Distributions
(3,391
)
 
—

 
—

 
—

 
(3,391
)
Equity income (loss), net
2,613

 
(4,849
)
 
176

 
2,596

 
536

Accumulated other comprehensive loss
—

 
(1,718
)
 
—

 
—

 
(1,718
)
Balance at September 30, 2019
$
274,727

 
$
127,742

 
$
224,152

 
$
467,943

 
$
1,094,564


Summarized Financial Information
The following table represents aggregated selected income statement data for the Company’s equity method interests (on a 100 percent basis):
 
 
Three Months Ended September 30, 2019(1)
 
Nine Months Ended September 30, 2019 (1)
 
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Revenues
 
$
12,039

 
$
8,015

 
$
—

 
$
41,765

 
$
16,476

 
$
8,015

 
$
—

 
$
78,749

Operating expenses
 
1,033

 
27,679

 
21

 
12,857

 
1,218

 
33,610

 
41

 
27,189

Operating income (loss)
 
11,006

 
(19,664
)
 
(21
)
 
28,908

 
15,258

 
(25,595
)
 
(41
)
 
51,560

Net income (loss)
 
11,776

 
(20,890
)
 
554

 
28,908

 
17,090

 
(35,620
)
 
785

 
51,560

Other comprehensive loss
 
—

 
(4,145
)
 
—

 
—

 
—

 
(11,450
)
 
—

 
—

(1)
Although our interests in EPIC Crude Holdings, LP, Permian Highway Pipeline LLC, and Breviloba, LLC were acquired on February 4, 2019, May 17, 2019, and July 31, 2019, respectively, the financial results are presented for the entire three and nine month periods for comparability. Due to the timing for availability of financial statement information, summarized income statement data is presented on a one month delay for all equity interests.