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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 546 $ 482 $ 392
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation, amortization and accretion 49 46 45
Loss (gain) from revision of ARO and disposition of fixed assets 2 (3) 0
Non-cash interest expense 1 1 0
Allowance oil reduction to net realizable value 1 5 0
Undistributed equity earnings (6) (6) (6)
Changes in operating assets and liabilities      
Accounts receivable 7 (7) (7)
Allowance oil 0 (6) (3)
Prepaid expenses and other assets 0 (4) (7)
Accounts payable 2 (7) 8
Deferred revenue and other unearned income (11) (4) 6
Accrued liabilities 6 10 4
Net cash provided by operating activities 597 507 432
Cash flows from investing activities      
Capital expenditures (38) (49) (58)
Acquisitions from Parent (90) (482) (420)
Third party acquisitions 0 0 (38)
Contributions to investment (25) (28) (12)
Return of investment 66 48 18
April 2017 Divestiture 0 0 1
Net cash used in investing activities (87) (511) (509)
Cash flows from financing activities      
Net proceeds from equity offerings 0 973 278
Borrowings under credit facilities 600 1,820 1,693
Repayments of credit facilities 0 (1,573) (533)
Contributions from general partner 0 20 6
Proceeds from April 2017 Divestiture 0 0 20
Capital distributions to general partner (510) (738) (1,035)
Distributions to noncontrolling interests (17) (16) (19)
Distributions to unitholders and general partner (519) (423) (268)
Net distributions to Parent 0 0 (66)
Other contributions from Parent 19 12 18
Credit facility issuance costs 0 (1) (2)
Repayment of finance leases (1) 0 0
Net cash (used in) provided by financing activities (428) 74 92
Net increase in cash and cash equivalents 82 70 15
Cash and cash equivalents at beginning of the period 208 138 123
Cash and cash equivalents at end of the period 290 208 138
Non-cash investing and financing transactions:      
Change in asset retirement obligation 0 2 0
Change in accrued capital expenditures (3) 2 0
Other non-cash contributions from Parent 0 2 0
Net assets not contributed to the Partnership $ 0 $ 0 $ (5)