XML 86 R12.htm IDEA: XBRL DOCUMENT v3.19.3
PROPERTY, PLANT, AND EQUIPMENT, NET
9 Months Ended
Sep. 30, 2019
Property Plant And Equipment [Abstract]  
PROPERTY, PLANT, AND EQUIPMENT, NET

5. PROPERTY, PLANT AND EQUIPMENT, NET

Details on property, plant and equipment follow.

 

 

 

September 30, 2019

 

 

December 31, 2018

 

 

 

(In thousands)

 

Gathering and processing systems and related equipment

 

$

2,161,764

 

 

$

2,155,325

 

Construction in progress

 

 

98,926

 

 

 

137,920

 

Land and line fill

 

 

9,823

 

 

 

11,748

 

Other

 

 

53,283

 

 

 

45,853

 

Total

 

 

2,323,796

 

 

 

2,350,846

 

Less accumulated depreciation

 

 

424,515

 

 

 

387,133

 

Property, plant and equipment, net

 

$

1,899,281

 

 

$

1,963,713

 

In March 2019, certain events occurred which indicated that certain long-lived assets in the DJ Basin and Barnett Shale reporting segments could be impaired. Consequently, in the first quarter of 2019, we performed a recoverability assessment of certain assets within these reporting segments.

In the DJ Basin, we determined that certain processing plant assets related to our existing 20 MMcf/d plant would no longer be utilized due to our expansion plans for the Niobrara G&P system. Based on the results of the recoverability assessment and the conclusion that the carrying value was not fully recoverable, we recorded an impairment charge of $34.7 million related to these assets in the first quarter of 2019.

In the Barnett Shale, we determined, in the first quarter of 2019, that certain compressor station assets would be shut down and decommissioned. As a result, we recorded an impairment charge of $9.7 million related to these assets in the first quarter of 2019. See Note 6 for additional details.

 

Depreciation expense and capitalized interest follow.

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Depreciation expense

 

$

19,437

 

 

$

18,567

 

 

$

58,049

 

 

$

55,781

 

Capitalized interest

 

 

1,391

 

 

 

2,451

 

 

 

5,752

 

 

 

5,536