EQUITY METHOD INVESTMENTS

3 Months Ended

Mar. 31, 2019

Equity Method Investments And Joint Ventures [Abstract]

8. EQUITY METHOD INVESTMENTS

Ohio Gathering owns, operates and is currently developing midstream infrastructure consisting of a liquids-rich natural gas gathering system, a dry natural gas gathering system and a condensate stabilization facility in the Utica Shale in southeastern Ohio. Ohio Gathering provides gathering services pursuant to primarily long-term, fee-based gathering agreements, which include acreage dedications.

As a result of our joint venture partner funding a disproportionate amount of the capital calls during the three months ended March 31, 2019, our ownership interest in Ohio Gathering decreased from 40.0% at December 31, 2018 to 39.5% at March 31, 2019.

A reconciliation of our 39.5% ownership interest in Ohio Gathering to our investment per Ohio Gathering's books and records follows (in thousands).

Investment in equity method investees, March 31, 2019	$	640,226
March cash distributions		2,883
Basis difference		(113,493	)
Investment in equity method investees, net of basis difference, February 28, 2019	$	529,616

Summarized statements of operations information for OGC and OCC follow (amounts represent 100% of investee financial information).

	Three months ended February 28, 2019					Three months ended February 28, 2018
	OGC		OCC			OGC		OCC
	(In thousands)
Total revenues	$	33,466	$	2,266		$	34,960	$	2,489
Total operating expenses		25,487		2,973			26,775		2,141
Net income (loss)		7,972		(707	)		8,180		180