| Investments Accounted for by the Equity Method |
Investments accounted for by the equity method consist of the following as of June 30, 2017 and December 31, 2016:
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Carrying value |
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(Income) loss from equity method investments
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Approximate ownership % |
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June 30, 2017 |
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December 31, 2016 |
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Three months ended June 30, |
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Six months ended June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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(In thousands) |
Investment in Tatex Thailand II, LLC |
23.5 |
% |
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$ |
— |
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$ |
— |
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$ |
(211 |
) |
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$ |
— |
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$ |
(454 |
) |
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$ |
(159 |
) |
Investment in Tatex Thailand III, LLC |
17.9 |
% |
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— |
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— |
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— |
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— |
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— |
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— |
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Investment in Grizzly Oil Sands ULC |
24.9999 |
% |
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51,604 |
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45,213 |
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208 |
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763 |
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573 |
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24,448 |
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Investment in Timber Wolf Terminals LLC |
50.0 |
% |
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987 |
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991 |
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— |
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1 |
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4 |
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4 |
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Investment in Windsor Midstream LLC |
22.5 |
% |
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270 |
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25,749 |
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25,545 |
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(2,881 |
) |
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25,234 |
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(3,048 |
) |
Investment in Stingray Cementing LLC(1)
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— |
% |
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— |
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1,920 |
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77 |
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78 |
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205 |
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108 |
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Investment in Blackhawk Midstream LLC |
48.5 |
% |
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— |
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— |
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— |
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— |
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— |
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— |
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Investment in Stingray Energy Services LLC(1)
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— |
% |
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— |
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4,215 |
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85 |
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139 |
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282 |
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641 |
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Investment in Sturgeon Acquisitions LLC(1)
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— |
% |
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— |
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20,526 |
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(139 |
) |
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134 |
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(71 |
) |
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511 |
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Investment in Mammoth Energy Services, Inc.(1)
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25.1 |
% |
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150,458 |
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111,717 |
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(12,181 |
) |
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2,543 |
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(10,023 |
) |
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9,009 |
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Investment in Strike Force Midstream LLC |
25.0 |
% |
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52,946 |
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33,589 |
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(83 |
) |
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59 |
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2,458 |
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59 |
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$ |
256,265 |
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$ |
243,920 |
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$ |
13,301 |
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$ |
836 |
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$ |
18,208 |
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$ |
31,573 |
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(1) |
On June 5, 2017, Mammoth Energy Services, Inc. acquired Stingray Cementing LLC, Stingray Energy Services LLC and Sturgeon Acquisitions LLC. See below under Mammoth Energy Partners LP/Mammoth Energy Services, Inc. for information regarding these transactions.
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| Equity Method Investment Balance Sheet Summary |
The tables below summarize financial information for the Company’s equity investments as of June 30, 2017 and December 31, 2016.
Summarized balance sheet information:
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June 30, 2017 |
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December 31, 2016 |
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(In thousands) |
Current assets |
$ |
145,857 |
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$ |
148,733 |
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Noncurrent assets |
$ |
1,414,377 |
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$ |
1,305,407 |
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Current liabilities |
$ |
102,011 |
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$ |
57,173 |
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Noncurrent liabilities |
$ |
137,215 |
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$ |
67,680 |
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| Equity Method Investment Income Statement Summary |
Summarized results of operations:
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Three months ended June 30, |
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Six months ended June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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(In thousands) |
Gross revenue |
$ |
99,640 |
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$ |
86,732 |
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$ |
194,118 |
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$ |
130,039 |
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Net loss |
$ |
(67,336 |
) |
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$ |
(560 |
) |
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$ |
(92,675 |
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$ |
(25,868 |
) |
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