| Investments Accounted for by the Equity Method |
Investments accounted for by the equity method consist of the following as of September 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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September 30, 2017 |
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December 31, 2016 |
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Three months ended September 30, |
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Nine months ended September 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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$ |
(95 |
) |
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$ |
(253 |
) |
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$ |
(549 |
) |
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$ |
(412 |
) |
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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58,674 |
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45,213 |
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296 |
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363 |
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869 |
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24,811 |
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Investment in Timber Wolf Terminals LLC |
50.0 |
% |
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983 |
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991 |
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4 |
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3 |
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8 |
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7 |
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Investment in Windsor Midstream LLC |
22.5 |
% |
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31 |
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25,749 |
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(2 |
) |
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(9,014 |
) |
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25,232 |
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(12,062 |
) |
Investment in Stingray Cementing LLC(1)
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— |
% |
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— |
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1,920 |
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— |
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79 |
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205 |
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187 |
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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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— |
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294 |
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282 |
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935 |
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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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— |
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112 |
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(71 |
) |
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623 |
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Investment in Mammoth Energy Services, Inc.(1)
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25.1 |
% |
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149,219 |
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111,717 |
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2,407 |
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2,518 |
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(7,616 |
) |
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11,527 |
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Investment in Strike Force Midstream LLC |
25.0 |
% |
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70,375 |
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33,589 |
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127 |
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(99 |
) |
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2,585 |
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(40 |
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$ |
279,282 |
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$ |
243,920 |
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$ |
2,737 |
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$ |
(5,997 |
) |
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$ |
20,945 |
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$ |
25,576 |
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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 September 30, 2017 and December 31, 2016.
Summarized balance sheet information:
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September 30, 2017 |
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December 31, 2016 |
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(In thousands) |
Current assets |
$ |
201,557 |
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$ |
148,733 |
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Noncurrent assets |
$ |
1,494,770 |
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$ |
1,305,407 |
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Current liabilities |
$ |
130,178 |
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$ |
57,173 |
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Noncurrent liabilities |
$ |
164,759 |
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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 September 30, |
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Nine months ended September 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 |
$ |
160,950 |
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$ |
76,627 |
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$ |
357,901 |
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$ |
206,666 |
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Net income (loss) |
$ |
2,101 |
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$ |
35,212 |
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$ |
(109,651 |
) |
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$ |
9,344 |
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