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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenues $ 96,539 $ 115,415 $ 314,669 $ 322,365
Costs and expenses:        
Direct operating expenses 31,173 29,789 101,425 76,381
Cost of goods sold (exclusive of depreciation and amortization) 6,663 17,350 27,368 46,252
Real estate operating expenses 494 742 1,812 1,963
Depreciation, amortization and accretion 10,990 11,736 35,596 31,798
General and administrative expenses 3,140 3,240 11,829 7,677
(Gain) loss on disposal of property, plant and equipment (16) 0 2,765 (4)
Total costs and expenses 52,444 62,857 180,795 164,067
Income (loss) from operations 44,095 52,558 133,874 158,298
Other income (expense):        
Interest income (expense), net (5,817) (553) (10,364) (638)
Income (loss) from equity method investments 3,369 (631) (9,910) (695)
Total other income (expense), net (2,448) (1,184) (20,274) (1,333)
Net income (loss) before income taxes 41,647 51,374 113,600 156,965
Provision for (benefit from) income taxes 2,851 3,294 7,754 22,850
Net income (loss) 38,796 48,080 105,846 134,115
Less: Net income (loss) before initial public offering 0 0 0 65,995
Net income (loss) subsequent to initial public offering 0 0 0 68,120
Less: Net income (loss) attributable to non-controlling interest 29,578 36,549 80,775 51,786
Net income (loss) attributable to Rattler Midstream LP $ 9,218 $ 11,531 $ 25,071 $ 16,334
Net income (loss) attributable to limited partners per common unit:        
Basic (in dollars per share) $ 0.20 $ 0.26 $ 0.53 $ 0.37
Diluted (in dollars per share) $ 0.20 $ 0.26 $ 0.53 $ 0.37
Weighted average number of limited partner common units outstanding:        
Basic (in shares) 43,996 43,700 43,837 43,564
Diluted (in shares) 43,996 44,836 43,837 44,710
Revenues—related party        
Revenues:        
Revenues $ 85,846 $ 104,866 $ 280,460 $ 296,508
Revenues—third party        
Revenues:        
Revenues 7,229 6,840 23,504 15,405
Rental income—related party        
Revenues:        
Revenues 2,282 1,399 5,101 3,370
Rental income—third party        
Revenues:        
Revenues 867 1,894 4,653 5,999
Other real estate income—related party        
Revenues:        
Revenues 149 111 318 265
Other real estate income—third party        
Revenues:        
Revenues $ 166 $ 305 $ 633 $ 818