XML 15 R5.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
[1]
CURRENT ASSETS:    
Cash and cash equivalents $ 51,306 $ 24,188
Accounts receivable 1,259 1,033
Accounts receivable from Apache Corporation (Note 1) 799 446
Revenue receivables (Note 3) 11,152 11,378
Inventories 3,891 3,597
Prepaid assets and other 7,787 2,127
Total current assets 76,194 42,769
PROPERTY, PLANT AND EQUIPMENT:    
Property, plant and equipment 209,323 208,870
Less: Accumulated depreciation and accretion (15,907) (13,034)
Total property, plant and equipment, net 193,416 195,836
OTHER ASSETS:    
Equity method interests 1,566,672 1,555,182
Deferred charges and other 6,294 5,843
Other assets 1,572,966 1,561,025
Total assets 1,842,576 1,799,630
CURRENT LIABILITIES:    
Distributions payable to Preferred Unit limited partners 11,562 0
Dividends payable 0 5,620
Distributions payable to Apache Corporation 0 18,750
Other current liabilities (Note 6) 10,322 5,613
Total current liabilities 21,884 29,983
LONG-TERM DEBT 657,000 624,000
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:    
Asset retirement obligation 65,100 64,062
Embedded derivative 155,538 139,009
Other noncurrent liabilities 6,907 6,424
Noncurrent liabilities 227,545 209,495
Total liabilities 906,429 863,478
COMMITMENTS AND CONTINGENCIES (Note 7)
Redeemable noncontrolling interest — Apache limited partner 662,432 575,125
Redeemable noncontrolling interest — Preferred Unit limited partners 604,749 608,381
EQUITY:    
Additional paid-in capital 38,217 122,222
Accumulated deficit (369,253) (369,433)
Accumulated other comprehensive loss 0 (145)
Total equity (331,034) (247,354)
Total liabilities, noncontrolling interests, and equity 1,842,576 1,799,630
Class A Common Stock    
EQUITY:    
Common stock [2] 1 1
Class C Common Stock    
EQUITY:    
Common stock [2] $ 1 $ 1
[1] The Consolidated Balance Sheet as of December 31, 2020 has been derived from the audited consolidated financial statements, 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.
[2] 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.