Related Party Transactions

6 Months Ended

Jun. 30, 2022

Related Party Transactions

Related Party Transactions

19. Related Party Transactions

Old Ocean Reserves, an affiliate of our customer Hilcorp, has the right to designate one director to serve on our Board of Directors as long as Old Ocean Reserves or its successors (together with its affiliates) owns at least 7.5% of our outstanding common stock. As of June 30, 2022, Old Ocean Reserves owned 10.7% of our outstanding common stock. Jason C. Rebrook, Chief Executive Officer and Director of Harvest Midstream Company, a Hilcorp affiliate, has served as Old Ocean Reserves’ representative director since July 2020.

Revenue from Hilcorp and affiliates was $9.2 million and $9.6 million during the three months ended June 30, 2022 and 2021, respectively, and $18.6 million and $19.1 million during the six months ended June 30, 2022 and 2021, respectively. Accounts receivable, net due from Hilcorp and affiliates was $4.3 million and $3.7 million as of June 30, 2022 and December 31, 2021, respectively.