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CONSOLIDATED STATEMENTS OFCASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss including noncontrolling interests $ (1,338,900) $ (239) $ (18,575)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Unrealized derivative instrument loss 8,470 0 0
Depreciation and accretion 41,480 20,068 5,991
Deferred income tax (benefit) expense 64,915 (9,460) 7,041
Income from equity method interests, net (19,069) 0 0
Distributions from equity method interests 25,316 0 0
Impairments 1,300,719 0 0
Adjustment for non-cash transactions with affiliate [1] 0 (4,238) 9,601
Other 907 0 0
Changes in operating assets and liabilities:      
Increase in inventories (620) (5,058) (743)
(Increase) decrease in prepaid and other 3,877 (1,045) 0
Increase in revenue receivables (Note 4) (4,532) (5,602) (5,422)
(Increase) decrease in account receivables from/payable to affiliate (6,361) 4,484 0
Increase in interest receivable 0 (226) 0
Increase in accrued expenses 71 1,977 2,107
NET CASH PROVIDED BY OPERATING ACTIVITIES 76,273 661 0
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (342,650) (84,000) 0
Proceeds from sale of assets 13,309 0 0
Contributions to equity method interests (501,352) 0 0
Acquisition of equity method interests (670,625) (91,100) 0
Other (2,370) 0 0
NET CASH USED IN INVESTING ACTIVITIES (1,503,688) (175,100) 0
CASH FLOWS FROM FINANCING ACTIVITIES:      
Redeemable noncontrolling interest - Preferred Unit limited partners, net 611,249 0 0
Proceeds from revolving credit facility 396,000 0 0
Finance lease (22,994)    
Recapitalization transaction (Note 2) 0 628,154 0
Deferred facility fees (792) (3,780) 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 983,463 624,374 0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (443,952) 449,935 0
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 449,935 0 0
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,983 449,935 0
SUPPLEMENTAL CASH FLOW DATA:      
Accrued capital expenditures [2] 18,573 89,810 122,364
Finance lease liability [3] 9,767    
Interest paid, net of capitalized interest 903 0 0
Cash received for income tax refunds $ 527 $ 0 $ 0
[1]
In all periods prior to the Business Combination, the Company had no banking or cash management activities. Transactions with Apache and asset transfers to and from the Company were not settled in cash and are therefore reflected as a component of equity and redeemable noncontrolling interests on the consolidated balance sheet. In addition to the above, Apache contributed its investments in gas gathering, processing, and transmission facilities of approximately $484.5 million and $505.7 million, that are included within equity and redeemable noncontrolling interests for the years ended December 31, 2018 and 2017, respectively. Refer to Note 3—Transactions with Affiliates for more information.
[2]
Includes $1.5 million and $9.1 million of capital expenditures due to Apache for the years ended December 31, 2019 and 2018, respectively, pursuant to the terms of the Construction, Operations, and Maintenance Agreement entered into at the closing of the Business Combination. Refer to Note 3—Transactions with Affiliates for more information.
[3]
The Company entered into a finance lease in the first quarter of 2019. Refer to Note 9—Commitments and Contingencies for more information.