EQUITY METHOD INTERESTS (Tables)

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investment Information

The following table presents the activity in the Company’s equity method interest in Kinetik for the six months ended June 30, 2022:

		Kinetik Holdings Inc
	(In millions)
Balance at December 31, 2021		$	—
Initial interest upon closing the BCP Business Combination		802
Sale of Class A shares		(250)
Paid-in-kind dividend		13
Fair value adjustments		53
Balance at June 30, 2022		$	618

The table below presents the ownership percentages held by the Company and associated carrying values for each entity:

	Interest	December 31, 2021
		(In millions)
Gulf Coast Express Pipeline, LLC	16.0%	$	274
EPIC Crude Holdings, LP	15.0%	—
Permian Highway Pipeline, LLC	26.7%	630
Shin Oak Pipeline (Breviloba, LLC)	33.0%	461
Total Altus equity method interests		$	1,365

The following table presents the activity in Altus’ equity method interests for the six months ended June 30, 2022:

	Gulf Coast Express Pipeline LLC		EPIC Crude Holdings, LP		Permian Highway Pipeline LLC		Breviloba, LLC		Total
	(In millions)
Balance at December 31, 2021	$	274	$	—	$	630	$	461	$	1,365
Capital contributions	—		2		—		—		2
Distributions	(5)		—		(9)		(7)		(21)
Equity income (loss), net	8		(2)		10		5		21
Deconsolidation of Altus	(277)		—		(631)		(459)		(1,367)
Balance at June 30, 2022	$	—	$	—	$	—	$	—	$	—