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Condensed Statements of Combined Consolidated Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES        
Affiliate $ 114,214 $ 54,102 $ 223,794 $ 101,994
Third-party 16,111 6,003 31,580 9,733
Total Revenues 130,325 60,105 255,374 111,727
COSTS AND EXPENSES        
Operating and maintenance expenses 53,746 28,889 98,844 48,378
Imbalance settlement gains (2,700) (2,576) (5,117) (5,000)
General and administrative expenses 12,448 6,851 21,794 12,904
Depreciation and amortization expenses 16,460 7,314 31,985 11,395
Loss (gain) on asset disposals and impairments 132 0 (4,616) 164
Total Costs and Expenses 80,086 40,478 142,890 67,841
OPERATING INCOME 50,239 19,627 112,484 43,886
Interest and financing costs, net (17,473) (6,571) (35,220) (12,175)
Interest income 0 470 0 493
NET INCOME 32,766 13,526 77,264 32,204
Loss attributable to Predecessor 0 5,647 0 5,647
Net Income attributable to Partners 32,766 19,173 77,264 37,851
General partner's interest in net income, including incentive distribution rights (7,958) (1,978) (14,794) (3,514)
Limited partners' interest in net income $ 24,808 $ 17,195 $ 62,470 $ 34,337
Net income per limited partner unit:        
Common - basic $ 0.45 [1] $ 0.38 [1] $ 1.15 [1] $ 0.77 [1]
Common - diluted $ 0.45 [1] $ 0.38 [1] $ 1.14 [1] $ 0.77 [1]
Subordinated - basic and diluted $ 0.45 [1] $ 0.36 [1] $ 1.13 [1] $ 0.73 [1]
Weighted average limited partner units outstanding:        
Common units - basic 46,911,533 30,752,989 43,070,111 29,812,337
Common units - diluted 47,012,424 30,863,138 43,169,298 29,903,780
Subordinated units - basic and diluted 7,543,627 [2] 15,254,890 [2] 11,377,957 [2] 15,254,890 [2]
Cash distributions per unit $ 0.5900 $ 0.4900 $ 1.1550 $ 0.9625
[1] We base our calculation of net income per unit on the weighted-average number of common and subordinated limited partner units outstanding during the period. Therefore, as a result of the public offering of common units in January 2013, and the conversion of the subordinated units to common units in May 2014, net income per common and subordinated limited partner units may not agree for the periods presented
[2] On May 16, 2014, the 15,254,890 subordinated units were converted into common units on a one-for-one basis and thereafter participate on terms equal with all other common units in distributions of available cash. Distributions and the Partnership’s net income were allocated to the subordinated units through May 15, 2014.