| Schedule of investments accounted for by the equity method |
Summarized results of operations:
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December 31, |
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2018 |
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2017 |
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2016 |
|
(In thousands) |
Gross revenue |
$ |
1,729,778 |
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|
$ |
755,374 |
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|
$ |
287,733 |
|
Net income (loss) |
$ |
253,451 |
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|
$ |
(37,102 |
) |
|
$ |
(65,070 |
) |
Summarized balance sheet information:
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December 31, |
|
2018 |
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2017 |
|
(In thousands) |
Current assets |
$ |
471,733 |
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|
$ |
415,032 |
|
Noncurrent assets |
$ |
1,302,488 |
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|
$ |
1,542,090 |
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Current liabilities |
$ |
239,975 |
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|
$ |
261,086 |
|
Noncurrent liabilities |
$ |
94,575 |
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|
$ |
148,839 |
|
Investments accounted for by the equity method consist of the following as of December 31, 2018 and 2017:
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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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December 31, |
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For the Year Ended December 31, |
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2018 |
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2017 |
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2018 |
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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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|
$ |
(241 |
) |
|
$ |
(549 |
) |
|
$ |
(412 |
) |
Investment in Tatex Thailand III, LLC |
— |
% |
|
— |
|
|
— |
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|
— |
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(183 |
) |
|
— |
|
Investment in Grizzly Oil Sands ULC |
24.9999 |
% |
|
44,259 |
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|
57,641 |
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|
510 |
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|
2,189 |
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|
25,150 |
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Investment in Timber Wolf Terminals LLC(3)
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— |
% |
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— |
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|
983 |
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|
536 |
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8 |
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|
8 |
|
Investment in Windsor Midstream LLC |
22.5 |
% |
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39 |
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|
30 |
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(9 |
) |
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25,233 |
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(13,618 |
) |
Investment in Stingray Cementing LLC(1)
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— |
% |
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— |
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— |
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— |
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|
205 |
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|
263 |
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Investment in Blackhawk Midstream LLC(4)
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— |
% |
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— |
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— |
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(38 |
) |
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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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— |
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— |
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282 |
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|
1,044 |
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Investment in Sturgeon Acquisitions LLC(1)
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— |
% |
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— |
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— |
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(71 |
) |
|
993 |
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Investment in Mammoth Energy Services, Inc.(1)
|
21.9 |
% |
|
191,823 |
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|
165,715 |
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(49,969 |
) |
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(11,288 |
) |
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24,037 |
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Investment in Strike Force Midstream LLC(2)
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— |
% |
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— |
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|
77,743 |
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(693 |
) |
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1,954 |
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(89 |
) |
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|
$ |
236,121 |
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|
$ |
302,112 |
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$ |
(49,904 |
) |
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$ |
17,780 |
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$ |
37,376 |
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(1) |
On June 5, 2017, Mammoth Energy Services, Inc. ("Mammoth Energy") 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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(2) |
On May 1, 2018, the Company sold its 25% interest in Strike Force Midstream to EQT Midstream Partners, LP. See below under under Strike Force Midstream LLC for information regarding this transaction.
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(3) |
On June 5, 2018, the Company received its final distribution from Timber Wolf Terminals LLC ("Timber Wolf"). See below under Timber Wolf Terminals LLC for information regarding this distribution.
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(4) |
On December 31, 2018, the Company received its final distribution from Blackhawk Midstream LLC ("Blackhawk"). See below under Blackhawk Midstream LLC for information regarding this distribution.
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