XML 12 R2.htm IDEA: XBRL DOCUMENT v3.21.1
STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
[1]
REVENUES:    
Total revenues $ 34,146 $ 40,869
COSTS AND EXPENSES:    
General and administrative [2] 3,455 4,178
Depreciation and accretion 4,000 3,914 [3]
Impairment 441 0
Taxes other than income 3,808 3,443
Total costs and expenses 21,099 22,217
OPERATING INCOME 13,047 18,652
Unrealized derivative instrument loss (16,529) (61,984) [3]
Interest income 1 7
Income from equity method interests, net 21,688 15,842 [3]
Warrants valuation adjustment (664) 1,877
Other 7,544 (188)
Total other income (loss) 12,040 (44,446)
Financing costs, net of capitalized interest 2,598 273
NET INCOME (LOSS) BEFORE INCOME TAXES 22,489 (26,067)
Current income tax benefit 0 (696)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS 22,489 (25,371) [4]
Net income attributable to Preferred Unit limited partners 19,492 18,262
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS 2,997 (43,633)
Net income (loss) attributable to Apache limited partner 2,817 (35,552)
NET INCOME (LOSS) ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS $ 180 $ (8,081) [5]
NET LOSS ATTRIBUTABLETO CLASS A COMMON SHAREHOLDERS, PER SHARE    
Basic (in USD per share) [6] $ 0.05 $ (2.16)
Diluted (in USD per share) [6] $ 0.05 $ (2.69)
WEIGHTED AVERAGE SHARES    
Basic (in shares) [6] 3,746 3,746
Diluted (in shares) [6] 3,746 16,246
Service    
REVENUES:    
Midstream services revenue — affiliate (Note 2) $ 31,529 $ 40,767
COSTS AND EXPENSES:    
Operations and maintenance [7] 7,402 10,591
Product    
REVENUES:    
Product sales — third parties 2,617 102
COSTS AND EXPENSES:    
Operations and maintenance $ 1,993 $ 91
[1] This period presented has been revised to reflect the Company’s fair value change of its underlying warrants. Refer to Note 1Summary of Significant Accounting Policies, see the section titled Revision of Previously Issued Consolidated Financial Statements for Immaterial Adjustment for further information.
[2] Includes amounts of $2.2 million and $2.0 million associated with related parties for the three months ended March 31, 2021 and 2020, respectively. Refer to Note 2—Transactions with Affiliates.
[3] This period presented has been revised to reflect the Company’s fair value change of its underlying warrants. Refer to Note 1—Summary of Significant Accounting Policies, see the section titled Revision of Previously Issued Consolidated Financial Statements for Immaterial Adjustment for further information.
[4] This period presented has been revised to reflect the Company’s fair value change of its underlying warrants. Refer to Note 1—Summary of Significant Accounting Policies, see the section titled Revision of Previously Issued Consolidated Financial Statements for Immaterial Adjustment for further information.
[5] This period presented has been revised to reflect the Company’s fair value change of its underlying warrants. Refer to Note 1—Summary of Significant Accounting Policies, see the section titled Revision of Previously Issued Consolidated Financial Statements for Immaterial Adjustment for further information.
[6] Share and per share amounts have been retroactively restated to reflect the Company’s reverse stock split, which was effected June 30, 2020. Refer to Note 9—Equity for further information.
[7] Includes amounts of $0.8 million and $1.4 million associated with related parties for the three months ended March 31, 2021 and 2020, respectively. Refer to Note 2—Transactions with Affiliates.