Investment in Laramie Energy, LLC (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The change in our equity investment in Laramie Energy is as follows (in thousands):

	Year Ended December 31,
	2019			2018		2017
Beginning balance	$	136,656		$	127,192	$	108,823
Equity earnings (losses) from Laramie Energy	(175,018		)	4,487		13,043
Accretion of basis difference	5,018			4,977		5,326
Adjustment of basis difference (1)	161,764			—		—
Impairment of our investment in Laramie Energy	(81,515		)	—		—
Ending balance	$	46,905		$	136,656	$	127,192

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(1) Represents the reduction in our basis difference resulting from the asset impairment loss recorded by Laramie Energy for the year ended December 31, 2019.

Equity Method Investees Financial Information

Summarized financial information for Laramie Energy is as follows (in thousands):

	December 31,
	2019		2018
Current assets	$	23,367	$	28,569
Non-current assets	393,575		788,515
Current liabilities	229,687		41,681
Non-current liabilities	85,287		293,084

 

	Year Ended December 31,
	2019			2018		2017
Natural gas and oil revenues	$	193,906		$	226,974	$	157,879
Income (loss) from operations	(360,967		)	34,206		6,019
Net income (loss)	(380,473		)	6,347		30,837