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Segment Data (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following is a summary of business segment operating performance as measured by segment EBITDA for the periods indicated:
Year Ended December 31, 2025
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Total
Net revenues:
Affiliate (1)
$
170,330 
$
237,007 
$
92,134 
$
— 
$
499,471 
Third party
327,767 
180,628 
5,457 
— 
513,852 
Total revenue
498,097 
417,635 
97,591 
— 
1,013,323 
Cost of materials and other
113,202 
342,187 
53,794 
— 
509,183 
Operating expenses
128,213 
9,359 
18,363 
— 
155,935 
Proportional EBITDA from equity method investments
— 
— 
— 
(88,150)
(88,150)
Other segment items (2)
(2,845)
3,155 
(419)
— 
(109)
Segment EBITDA
$
259,527 
$
62,934 
$
25,853 
$
88,150 
436,464 
Reconciling items to consolidated net income before income taxes:
Corporate expenses and other
40,810 
Proportional interest, taxes, depreciation and amortization from equity-method investments
26,357 
Depreciation and amortization
125,600 
Interest income
(112,517)
Interest expense
179,296 
Income tax expense
458 
Net income
$
176,460 
Year Ended December 31, 2024
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Total
Net revenues:
Affiliate (1)
$
180,763 
$
221,503 
$
115,516 
$
— 
$
517,782 
Third party
183,956 
230,019 
8,879 
— 
422,854 
Total revenue
364,719 
451,522 
124,395 
— 
940,636 
Cost of materials and other
77,037 
349,049 
57,539 
— 
483,625 
Operating expenses
80,317 
14,820 
18,299 
— 
113,436 
Proportional EBITDA from equity method investments
— 
— 
— 
(59,098)
(59,098)
Other segment items (2)
215 
(4,076)
232 
— 
(3,629)
Segment EBITDA
$
207,150 
$
91,729 
$
48,325 
$
59,098 
406,302 
Reconciling items to consolidated net income before income taxes:
Corporate expenses and other
43,592 
Proportional interest, taxes, depreciation and amortization from equity-method investments
15,797 
Depreciation and amortization
96,375 
Amortization of marketing contract intangible
4,206 
Interest income
(47,792)
Interest expense
150,960 
Income tax expense
479 
Net income
$
142,685 
Year ended December 31, 2023
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Total
Net revenues:
Affiliate (1)
$
212,537 
$
218,997 
$
132,269 
$
— 
$
563,803 
Third party
158,573 
286,704 
11,329 
— 
456,606 
Total revenue
371,110 
505,701 
143,598 
— 
1,020,409 
Cost of materials and other
83,118 
388,536 
63,710 
— 
535,364 
Operating expenses
75,136 
17,796 
18,104 
111,045 
Proportional EBITDA from equity method investments
— 
— 
— 
(38,231)
(38,231)
Other segment items (2)
13,393 
(7,143)
(2,066)
— 
4,184 
Segment EBITDA
$
199,463 
$
106,512 
$
63,850 
$
38,222 
408,047 
Reconciling items to consolidated net income before income taxes:
Corporate expenses and other
30,969 
Proportional interest, taxes, depreciation and amortization from equity-method investments
6,798 
Depreciation and amortization
92,384 
Amortization of marketing contract intangible
7,211 
Interest expense
143,244 
Income tax expense
1,205 
Net income
$
126,236 
(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible of $4.2 million and $7.2 million for the years ended December 31, 2024 and 2023, respectively. There was no amortization recorded during the year ended December 31, 2025, related to this intangible, as the associated agreement was terminated on August 5, 2024.
(2) Other segment items include general and administrative expense, other operating (income) loss and other income. Additionally, the wholesale marketing and terminalling segment includes amortization of the marketing contract intangible for the years ended December 31, 2024 and 2023.
The following is a summary of other segment information for the periods indicated:
Year Ended December 31, 2025
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Corporate and Other
Consolidated
Depreciation and amortization
$
113,451 
$
3,465 
$
5,633 
$
— 
$
3,051 
$
125,600 
Interest income
$
43,764 
$
16,154 
$
52,599 
$
— 
$
— 
$
112,517 
Capital spending (1)
$
266,496 
$
1,469 
$
6,398 
$
— 
$
— 
$
274,363 
Year Ended December 31, 2024
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Corporate and Other
Consolidated
Depreciation and amortization
$
80,144 
$
5,256 
$
7,609 
$
— 
$
3,366 
$
96,375 
Interest income
$
23,338 
$
8,546 
$
15,908 
$
— 
$
— 
$
47,792 
Amortization of marketing contract intangible
$
— 
$
4,206 
$
— 
$
— 
$
— 
$
4,206 
Capital spending (1)
$
128,927 
$
2,727 
$
8,332 
$
— 
$
— 
$
139,986 
Year ended December 31, 2023
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Corporate and Other
Consolidated
Depreciation and amortization
$
72,181 
$
7,055 
$
9,839 
$
— 
$
3,309 
$
92,384 
Amortization of marketing contract intangible
$
— 
$
7,211 
$
— 
$
— 
$
— 
$
7,211 
Capital spending (1)
$
74,683 
$
2,111 
$
4,548 
$
— 
$
— 
$
81,342 
(1) Capital spending includes additions on an accrual basis.