Related Party Transactions

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Related Party Transactions

(5) Related Party Transactions

(a)    Transactions with Cedar Cove JV

For the three and six months ended June 30, 2023, we recorded revenue of $0.6 million and $1.3 million, respectively, related to the receipt of residue gas and NGLs from the Cedar Cove JV. For each of the three and six months ended June 30, 2022, we did not record any revenue related to the receipt of residue gas and NGLs from the Cedar Cove JV. For the three and six months ended June 30, 2023, we recorded cost of sales of $2.5 million and $4.0 million, respectively, and for the three and six months ended June 30, 2022, we recorded cost of sales of $9.1 million and $19.7 million, respectively, related to our purchase of residue gas and NGLs from the Cedar Cove JV subsequent to processing at our Central Oklahoma processing facilities. Additionally, we had accounts payable balances related to transactions with the Cedar Cove JV of $0.3 million and $2.5 million at June 30, 2023 and December 31, 2022, respectively.

(b)    Transactions with GIP

General and Administrative Expenses. We did not record any expenses related to transactions with GIP and its affiliates for the three and six months ended June 30, 2023 and 2022.

Management believes the foregoing transactions with related parties were executed on terms that are fair and reasonable to us. The amounts related to related party transactions are specified in the accompanying consolidated financial statements.