SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Assets by Reportable Segment

Assets by reportable segment follow.

	September 30, 2024		December 31, 2023
	(In thousands)
Assets:
Rockies	$	904,005	$	904,974
Permian	284,171		291,073
Northeast	1,257		573,663
Piceance	399,704		431,687
Barnett	274,322		281,861
Total reportable segment assets	1,863,459		2,483,258
Corporate and Other	135,707		10,940
Total assets	$	1,999,166	$	2,494,198

Schedule of Reconciliation of Net Income to Adjusted EBITDA

Segment adjusted EBITDA by reportable segment follows.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Reportable segment adjusted EBITDA(1)
Rockies	$	24,850	$	24,998	$	70,582	$	64,986
Permian	8,472		5,840		23,434		16,283
Northeast	—		27,751		30,634		65,806
Piceance	12,831		15,292		40,912		43,640
Barnett	7,278		6,084		17,798		20,380
Total of reportable segments’ measures of profit	$	53,431	$	79,965	$	183,360	$	211,095

A reconciliation of income or loss before income taxes and income from equity method investees to total of reportable segments’ measures of profit follows.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Reconciliation of income (loss) before income taxes and income from equity method investees to total of reportable segments’ measures of profit:
Income (loss) before income taxes and income from equity method investees	$	(59,878)	$	(6,265)	$	33,909	$	(46,311)
Add:
Corporate and Other expense	10,201		5,478		21,598		20,650
Interest expense	25,712		34,568		95,015		103,966
Depreciation and amortization (1)	23,774		31,013		76,028		91,438
Proportional adjusted EBITDA for equity method investees (2)	7,585		16,917		35,102		42,655
Adjustments related to capital reimbursement activity	(2,283)		(3,111)		(7,934)		(6,778)
Equity compensation	1,840		1,396		6,698		5,158
(Gain) loss on asset sales, net	(6)		(40)		1		(183)
(Gain) loss on sale of business	1,672		9		(82,338)		45
Gain on sale of equity method investment	—		—		(126,261)		—
Long-lived asset impairment	—		—		67,936		455
Transaction costs and other	2,579		—		16,407		—
Early extinguishment of debt	42,235		—		47,199		—
Total of reportable segments’ measures of profit	$	53,431	$	79,965	$	183,360	$	211,095

________

(1) Includes the amortization expense associated with our favorable gas gathering contracts as reported in other revenues.

(2) The Company recorded financial results of its investment in Ohio Gathering on a one-month lag and is based on the financial information available to us during the reporting period. With the divestiture of Ohio Gathering in March 2024, proportional adjusted EBITDA includes financial results from December 1, 2023 through March 22, 2024.