XML 39 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
Acquisitions and Divestitures (Tables)
 9 Months Ended
Sep. 30, 2016
Business Acquisition [Line Items]  
Post-Acquisition Operating Results

As the income from the Carnero Gathering Transaction is classified under earnings from equity investments on the income statement, it is not included in operating results below.  However, earnings resulting from the Carnero Gathering Transaction were $1.3 million for the three and nine months ended September 30, 2016.  Direct operating expenses include lease operating expenses and production and ad valorem taxes (in thousands):

 

 

 

 

 

 

 

 

 

Three

 

 

 

 

Months Ended

 

Nine Months Ended

 

 

September 30, 2016

    

September 30, 2016

 

Revenues

$
15,208

 

$
47,365

 

Excess of revenues over direct operating expenses

$
11,415

 

$
35,086

 

 

Eagle Ford  
Business Acquisition [Line Items]  
Estimated Values Of Assets Purchased And Liabilities Assumed

 

 

 

 

 

Proved developed reserves

    

$
72,889

 

Facilities

 

 
8,002

 

Fair value of hedges assumed

 

 
3,408

 

Fair value of assets acquired

 

 
84,299

 

Asset retirement obligations

 

 
(877)

 

Ad valorem tax liability

 

 
(44)

 

Fair value of net assets acquired

 

$
83,378

 

 

Supplemental Pro Forma Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30, 

 

September 30, 

 

 

    

2016

    

2015

    

2016

    

2015

 

Revenues

 

$
19,854

 

$
36,219

 

$
55,369

 

$
77,341

 

Net income (loss) attributable to common unitholders

 

$
9,519

 

$
(5,054)

 

$
(16,114)

 

$
(130,036)

 

Net income (loss) per unit prior to conversion

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A units - Basic and diluted

 

$

 —

 

$

 —

 

$

 —

 

$
(23.87)

 

Class B units - Basic and diluted

 

$

 —

 

$

 —

 

$

 —

 

$
(18.99)

 

Net income (loss) per unit after conversion

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units - Basic

 

$
2.38

 

$
(1.18)

 

$
(4.08)

 

$
(16.64)

 

Common units - Diluted

 

$
1.21

 

$
(1.18)

 

$
(4.08)

 

$
(16.64)

 

 

Western Catarina Midstream  
Business Acquisition [Line Items]  
Estimated Values Of Assets Purchased And Liabilities Assumed

The total purchase price was allocated to the assets purchased and liabilities assumed based upon their fair values on the date of acquisition as follows (in thousands):

 

 

 

 

 

 

Fixed assets

    

$
142,887

 

Contractual customer relationships

 

 
201,888

 

Purchase of SPP common units from SN

 

 
1,065

 

Fair value of assets acquired

 

$
345,840