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EQUITY METHOD INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 2018
Equity Method Investments And Joint Ventures [Abstract]  
Equity Method Investments

A reconciliation of our 40% ownership interest in Ohio Gathering to our investment per Ohio Gathering's books and records follows (in thousands).

 

Investment in equity method investees, September 30, 2018

 

$

660,254

 

September cash distributions

 

 

2,912

 

Impairment loss

 

 

1,837

 

Basis difference

 

 

(120,170

)

Investment in equity method investees, net of basis difference,

    August 31, 2018

 

$

544,833

 

 

For the three and nine months ended September 30, 2018, there were no contributions to Ohio Gathering.

Summarized statements of operations information for OGC and OCC follow (amounts represent 100% of investee financial information). Results include gross asset impairments of $4.6 million and $16.9 million for the three and nine months ending September 30, 2018 and $8.7 million for the three and nine months ending September 30, 2017.

 

 

 

Three months ended

August 31, 2018

 

 

Three months ended

August 31, 2017

 

 

 

OGC

 

 

OCC

 

 

OGC

 

 

OCC

 

 

 

(In thousands)

 

Total revenues

 

$

37,180

 

 

$

2,465

 

 

$

35,144

 

 

$

1,814

 

Total operating expenses

 

 

31,751

 

 

 

2,323

 

 

 

25,720

 

 

 

1,877

 

Net income (loss)

 

 

5,429

 

 

 

(5

)

 

 

9,424

 

 

 

(204

)

 

 

 

Nine months ended

August 31, 2018

 

 

Nine months ended

August 31, 2017

 

 

 

OGC

 

 

OCC

 

 

OGC

 

 

OCC

 

 

 

(In thousands)

 

Total revenues

 

$

106,263

 

 

$

7,024

 

 

$

103,302

 

 

$

5,871

 

Total operating expenses

 

 

94,044

 

 

 

6,422

 

 

 

86,046

 

 

 

6,186

 

Net income (loss)

 

 

12,213

 

 

 

116

 

 

 

17,258

 

 

 

(1,396

)