EQUITY METHOD INTERESTS (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Summary of Equity Method Investment Information

The following table presents the activity in the Company’s equity method interest in Kinetik for the year ended December 31, 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		40
Fair value adjustments		32
Balance at December 31, 2022		$	624

	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 years ended December 31, 2022 and 2021:

	Gulf Coast Express Pipeline LLC		EPIC Crude Holdings, LP		Permian Highway Pipeline LLC		Breviloba, LLC		Total
	(In millions)
Balance at December 31, 2020	$	284	$	176	$	615	$	480	$	1,555
Capital contributions	—		2		26		—		28
Distributions	(50)		—		(74)		(49)		(173)
Equity income (loss), net	40		(19)		63		30		114
Accumulated other comprehensive loss	—		1		—		—		1
Impairment(1)	—		(160)		—		—		(160)
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 December 31, 2022	$	—	$	—	$	—	$	—	$	—

(1)Prior to the deconsolidation of Altus on February 22, 2022, the Company impaired its investment in EPIC in the fourth quarter of 2021. Refer to Note 1—Summary of Significant Accounting Policies for further details on this impairment charge.