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EQUITY METHOD INVESTMENTS
 9 Months Ended
Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY METHOD INVESTMENTS EQUITY METHOD INVESTMENTS
The following table presents the carrying values of the Partnership’s equity method investments as of the dates indicated:
Ownership InterestSeptember 30, 2020December 31, 2019
(In thousands)
EPIC Crude Holdings, LP10 %$123,002 $109,806 
Gray Oak Pipeline, LLC10 %134,555 115,840 
Wink to Webster Pipeline LLC4 %74,611 34,124 
OMOG JV LLC60 %195,744 219,098 
Amarillo Rattler, LLC50 %4,096 690 
Total$532,008 $479,558 

The following table summarizes the income (loss) of equity method investees reflected in the Condensed Consolidated Statement of Operations for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In thousands)
EPIC Crude Holdings, LP$(1,904)$(529)$(4,703)$(532)
Gray Oak Pipeline, LLC3,832 (128)5,585 (189)
Wink to Webster Pipeline LLC(127)26 73 26 
OMOG JV LLC1,499 — (10,681)— 
Amarillo Rattler, LLC69 — (184)— 
Total$3,369 $(631)$(9,910)$(695)

On February 1, 2019, Diamondback funded and the Predecessor acquired a 10% equity interest in EPIC, which owns and operates a pipeline (the “EPIC pipeline”) that transports crude oil and natural gas liquids across Texas for delivery into the Corpus Christi market. The EPIC pipeline became fully operational in April 2020.
On February 15, 2019, Diamondback funded and the Predecessor acquired a 10% equity interest in Gray Oak, which owns and operates a pipeline (the “Gray Oak pipeline”) that transports crude oil from the Permian to Corpus Christi on the Texas Gulf Coast. The Gray Oak pipeline became fully operational in April 2020.

On March 29, 2019, the Predecessor executed a short-term promissory note to Gray Oak. The note allowed for borrowing by Gray Oak of up to $123.0 million at a 2.52% interest rate with a maturity date of March 31, 2022. The short-term promissory note was repaid on May 31, 2019.

On June 4, 2019, the Partnership entered into an equity contribution agreement with respect to Gray Oak. The equity contribution agreement required the Partnership to contribute equity or make loans to Gray Oak so that Gray Oak could, to the extent necessary, cure payment defaults under Gray Oak’s credit agreement and, in certain instances, repay Gray Oak’s credit agreement in full. The Partnership’s obligations under the equity contribution agreement were limited to its proportionate ownership interest in Gray Oak, and such obligations were guaranteed by the Operating Company, Tall Towers, Rattler OMOG LLC and Rattler Ajax Processing LLC. The equity contribution agreement and the Partnership’s obligations under the agreement were terminated in September 2020.

On July 30, 2019, the Operating Company joined Wink to Webster as a 4% member, together with affiliates of ExxonMobil, Plains All American Pipeline, Delek US, MPLX LP, and Lotus Midstream. The joint venture is developing a crude oil pipeline with origin points at Wink and Midland in the Permian Basin for delivery to multiple Houston area locations (the “Wink to Webster pipeline”). The Wink to Webster pipeline is expected to begin service in the first half of 2021.
On October 1, 2019, the Partnership acquired a 60% equity interest in OMOG. On November 7, 2019, OMOG acquired 100% of Reliance Gathering, LLC, which owns and operates a crude oil gathering system in the Permian Basin and was renamed as Oryx Midland Oil Gathering LLC following the acquisition.

On December 20, 2019, the Operating Company acquired a 50% equity interest in Amarillo Rattler, LLC, which currently owns and operates the Yellow Rose gas gathering and processing system with estimated total processing capacity of 40,000 Mcf/d and over 84 miles of gathering and regional transportation pipelines in Dawson, Martin and Andrews Counties, Texas. This joint venture also intends to construct and operate a new 60,000 Mcf/d cryogenic natural gas processing plant in Martin County, Texas, as well as incremental gas gathering and compression and regional transportation pipelines. However, development of the new processing plant has been postponed pending a recovery in commodity prices and activity levels. Diamondback has contracted for up to 30,000 Mcf/d of the capacity of the new processing plant pursuant to a gas gathering and processing agreement entered into with the joint venture in exchange for Diamondback’s dedication of certain leasehold interests to that agreement.
The Partnership reviews its equity method investments to determine if a loss in value which is other than temporary has occurred. If such a loss has occurred, the Partnership recognizes an impairment provision. During the nine months ended September 30, 2020, the Partnership’s loss from equity method investments includes a proportional charge of $15.8 million representing impairment recorded by the investee associated with its goodwill. During the three and nine months ended September 30, 2020, the Partnership’s loss from equity method investments includes an immaterial abandonment charge related to a project that is no longer expected to be completed. No other impairments were recorded for the Partnership’s or Predecessor’s equity method investments for the three and nine months ended September 30, 2020 or 2019. The entities in which the Partnership is invested all serve customers in the oil and natural gas industry, which has been experiencing economic challenges as described above. It is possible that prolonged industry challenges could result in circumstances requiring impairment testing, which could result in potentially material impairment charges in future interim periods.