Ohio Gathering Sample Clauses

Ohio Gathering. Ohio Gathering is a subsidiary of MarkWest Utica EMG and is engaged in providing natural gas gathering services in the Utica Shale in eastern Ohio. Ohio Gathering is a joint venture between MarkWest Utica EMG and Summit Midstream Partners (“Summit”). As this entity is a subsidiary of MarkWest Utica EMG, which is accounted for as an equity method investment, the Partnership reports its portion of Ohio Gathering’s net assets as a component of its investment in MarkWest Utica EMG. The Partnership receives Operational Service revenue for operating Ohio Gathering. The amount of operational service revenue related to Ohio Gathering for the 28 days ended December 31, 2015 was approximately $2 million and is reported as Other income-related parties in the Consolidated Statements of Income.
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Ohio Gathering. Ohio Gathering owns and operates midstream infrastructure consisting of a liquids-rich natural gas gathering system, a dry natural gas gathering system and a condensate stabilization facility in the Utica Shale in southeastern Ohio. Ohio Gathering provides gathering services pursuant to primarily long-term, fee-based gathering agreements, which include acreage dedications. As of March 31, 2020 and December 31, 2019, our ownership interest in Ohio Gathering was 38.5%. A reconciliation of our 38.5% ownership interest in Ohio Gathering to our investment per Ohio Gathering’s books and records follows (in thousands). Investment in Ohio Gathering, March 31, 2020 $ 271,268 March cash distributions 1,875 Basis difference 223,151 Investment in Ohio Gathering February 29, 2020 $ 496,294 As noted in our 2019 Annual Report, in December 2019 an impairment loss of long-lived assets was recognized by OCC which brought our investment in OCC to zero. As a result, we have not recorded our portion of OCC’s net loss for the three months ended March 31, 2020 in the Income (loss) from equity method investees caption of our unaudited condensed consolidated statements of operations. Summarized statements of operations information for OGC and OCC follow (amounts represent 100% of investee financial information). Three months ended February 29, 2020 Three months ended February 28, 2019 OGC OCC OGC OCC (In thousands) Total revenues $ 30,068 $ 2,727 $ 33,466 $ 2,266 Total operating expenses 25,750 30,855 25,487 2,973 Net income (loss) 4,311 (28,128 ) 7,972 (707 ) 8. DEFERRED REVENUE A rollforward of current deferred revenue follows.
Sample 1
Ohio Gathering. The Ohio Gathering reportable segment includes OGC and OCC. We account for our investment in Ohio Gathering using the equity method. We recognize our proportionate share of earnings or loss in net income on a one-month lag based on the financial information available to us during the reporting period. Gross volume throughput for Ohio Gathering, based on a one-month lag follows. Ohio Gathering Year ended December 31, Percentage Change 2019 2018 2017 2019 v. 2018 2018 v. 2017 Average daily throughput (MMcf/d) 732 769 766 (5 %) * * Not considered meaningful Volume throughput for the Ohio Gathering system in 2019 decreased compared to the year ended December 31, 2018 as a result of natural production declines on existing xxxxx on the system, partially offset by the completion of new xxxxx. Volume throughput for the Ohio Gathering system in 2018 increased slightly compared to the year ended December 31, 2017 as a result of increased drilling activity from our customers during the second half of 2017 and in 2018, partially offset by natural production declines on existing xxxxx on the system. Financial data for our Ohio Gathering reportable segment, based on a one-month lag follows. Ohio Gathering Year ended December 31, Percentage Change 2019 2018 2017 2019 v. 2018 2018 v. 2017 (Dollars in thousands) Proportional adjusted EBITDA for equity method investees $ 39,126 $ 39,969 $ 41,246 (2 %) (3 %) Segment adjusted EBITDA $ 39,126 $ 39,969 $ 41,246 (2 %) (3 %) Year ended December 31, 2019. Segment adjusted EBITDA for equity method investees decreased $0.8 million compared to the year ended December 31, 2018. Other items to note: • In the fourth quarter of 2019, we impaired our equity method investment in Ohio Gathering (see Note 8 to the consolidated financial statements). The impairment had no impact on segment adjusted EBITDA for the year ended December 31, 2019. Year ended December 31, 2018. Segment adjusted EBITDA for equity method investees decreased $1.3 million compared to the year ended December 31, 2017, primarily as a result of higher expenses, partially offset by higher volumes at OGC and OCC.
Sample 1
Ohio Gathering. Ohio Gathering is a subsidiary of MarkWest Utica EMG and is engaged in providing natural gas gathering services in the Utica Shale in eastern Ohio. Ohio Gathering is a joint venture between MarkWest Utica EMG and Summit Midstream Partners, LLC (“Summit”). As of December 31, 2016, we have a 34 percent indirect ownership interest in Ohio Gathering. As Ohio Gathering is a subsidiary of MarkWest Utica EMG, which is accounted for as an equity method investment, the Partnership reports its portion of Ohio Gathering’s net assets as a component of its investment in MarkWest Utica EMG. The Partnership receives Operational Service revenue for operating Ohio Gathering. The amount of Operational Service revenue related to Ohio Gathering for the year ended December 31, 2016 and the 28 days ended December 31, 2015 was approximately $15 million and $2 million, respectively, and is reported as Other income - related parties in the Consolidated Statements of Income. Ohio Condensate Ohio Condensate is a joint venture between MarkWest Utica EMG Condensate, L.L.C., a wholly-owned and consolidated subsidiary of MarkWest, and Summit formed for the purpose of gathering (by pipeline), stabilization, terminalling, transportation and storage of well-head condensate within certain defined areas in the state of Ohio. The Partnership accounts for Ohio Condensate, which is a VIE, as an equity method investment as MPLX LP exercises significant influence, but does not control Ohio Condensate and is not its primary beneficiary due to Summit’s voting rights on significant matters. The Partnership’s portion of Ohio Condensate’s net assets, which was $10 million and $100 million at December 31, 2016 and 2015, respectively, are reported under the caption Equity method investments on the Consolidated Balance Sheets. The Partnership receives Operational Service revenue for operating Ohio Condensate. The amount of Operational Service revenue related to Ohio Condensate for the year ended December 31, 2016 and the 28 days ended December 31, 2015 was $4 million and less than $1 million, respectively, and is reported as Other income - related parties in the Consolidated Statements of Income. Summarized financial information for the year ended December 31, 2016 and from the date of the MarkWest Merger through December 31, 2015 for equity method investments is as follows: Year Ended December 31, 2016 (In millions) MarkWest Utica EMG Ohio Condensate Other VIEs Non-VIEs Total Revenue and other income $ ...
Sample 1
Ohio Gathering. The Ohio Gathering reportable segment includes OGC and OCC. We account for our investment in Ohio Gathering using the equity method. We recognize our proportionate share of earnings or loss in net income on a one-month lag based on the financial information available to us during the reporting period. Gross volume throughput for Ohio Gathering, based on a one-month lag follows. Ohio Gathering Three months ended March 31, 2020 2019 Percentage Change Average daily throughput (MMcf/d) 610 711 (14 %) Volume throughput for the Ohio Gathering system in 2020 decreased compared to the year ended December 31, 2019 as a result of natural production declines on existing xxxxx on the system partially offset by the completion of new xxxxx throughout 2019. Financial data for our Ohio Gathering reportable segment, based on a one-month lag follows. Ohio Gathering Three months ended March 31, 2020 2019 Percentage Change (Dollars in thousands) Proportional adjusted EBITDA for equity method investees $ 7,939 $ 9,210 (14 %) Segment adjusted EBITDA $ 7,939 $ 9,210 (14 %) Segment adjusted EBITDA for equity method investees decreased $1.3 million compared to the three months ended March 31, 2019 primarily as a result of the lower volume throughput described above.
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