2021 Q4 Form 10-K Financial Statement

#000174877322000006 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.90M $19.90M $23.90M
YoY Change -16.75% -16.75% 125.47%
Cash & Equivalents $19.90M $23.93M
Short-Term Investments
Other Short-Term Assets $1.181M $1.181M $1.127M
YoY Change 4.79% 7.36% -21.08%
Inventory $13.08M $13.08M $10.11M
Prepaid Expenses
Receivables $9.415M $67.57M $5.658M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $101.7M $101.7M $98.27M
YoY Change 3.52% 3.49% 14.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.053B $1.137B $997.9M
YoY Change 5.48% 3.84% 4.41%
Goodwill
YoY Change
Intangibles $3.650M $4.262M
YoY Change -14.36% -47.19%
Long-Term Investments $612.5M $612.5M $532.9M
YoY Change 14.94% 14.94% 11.12%
Other Assets $3.708M $66.06M $4.732M
YoY Change -21.64% -15.3% -18.36%
Total Long-Term Assets $1.819B $1.819B $1.710B
YoY Change 6.38% 6.38% 10.3%
TOTAL ASSETS
Total Short-Term Assets $101.7M $101.7M $98.27M
Total Long-Term Assets $1.819B $1.819B $1.710B
Total Assets $1.921B $1.921B $1.809B
YoY Change 6.22% 6.22% 10.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.452M $8.452M $139.0K
YoY Change 5980.58% 8352.0% -5.44%
Accrued Expenses $38.52M $38.52M $42.51M
YoY Change -9.39% -5.36% -44.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $48.95M $48.95M $43.45M
YoY Change 12.66% 12.79% -43.85%
LONG-TERM LIABILITIES
Long-Term Debt $688.0M $688.0M $569.9M
YoY Change 20.72% 20.72% 34.41%
Other Long-Term Liabilities $16.91M $16.91M $15.10M
YoY Change 11.99% 11.99% 33.63%
Total Long-Term Liabilities $704.9M $704.9M $585.0M
YoY Change 20.49% 20.49% 34.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.95M $48.95M $43.45M
Total Long-Term Liabilities $704.9M $704.9M $585.0M
Total Liabilities $753.8M $1.569B $628.5M
YoY Change 19.94% 10.38% 20.73%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $351.9M $351.9M $386.9M
YoY Change
Total Liabilities & Shareholders Equity $1.921B $1.921B $1.809B
YoY Change 6.22% 6.22% 10.52%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4

Facts In Submission

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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2020 rtlr Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
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CY2019 rtlr Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
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CY2021 us-gaap Gain Loss On Disposition Of Assets1
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CY2020 us-gaap Gain Loss On Disposition Of Assets1
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729000 USD
CY2019 us-gaap Gain Loss On Disposition Of Assets1
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CY2021 us-gaap Share Based Compensation
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CY2020 us-gaap Share Based Compensation
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CY2019 us-gaap Share Based Compensation
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CY2021 us-gaap Impairment Of Oil And Gas Properties
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CY2020 us-gaap Impairment Of Oil And Gas Properties
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CY2019 us-gaap Impairment Of Oil And Gas Properties
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CY2021 us-gaap Equity Method Investment Realized Gain Loss On Disposal
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CY2020 us-gaap Equity Method Investment Realized Gain Loss On Disposal
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CY2019 us-gaap Equity Method Investment Realized Gain Loss On Disposal
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CY2021 us-gaap Income Loss From Equity Method Investments
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CY2020 us-gaap Income Loss From Equity Method Investments
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CY2021 us-gaap Other Operating Activities Cash Flow Statement
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CY2020 us-gaap Other Operating Activities Cash Flow Statement
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970000 USD
CY2019 us-gaap Other Operating Activities Cash Flow Statement
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CY2020 us-gaap Increase Decrease In Accounts Receivable Related Parties
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CY2020 us-gaap Increase Decrease In Accounts Receivable
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CY2019 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2020 us-gaap Increase Decrease In Other Operating Capital Net
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CY2019 us-gaap Increase Decrease In Other Operating Capital Net
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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218193000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 rtlr Payments For Asset Acquisitions
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CY2020 rtlr Payments For Asset Acquisitions
PaymentsForAssetAcquisitions
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CY2019 rtlr Payments For Asset Acquisitions
PaymentsForAssetAcquisitions
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CY2021 rtlr Payments To Equity Method Investments Contribution
PaymentsToEquityMethodInvestmentsContribution
9085000 USD
CY2020 rtlr Payments To Equity Method Investments Contribution
PaymentsToEquityMethodInvestmentsContribution
102499000 USD
CY2019 rtlr Payments To Equity Method Investments Contribution
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CY2021 us-gaap Payments To Acquire Equity Method Investments
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CY2020 us-gaap Payments To Acquire Equity Method Investments
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CY2019 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
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CY2021 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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9107000 USD
CY2020 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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39767000 USD
CY2019 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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CY2021 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2020 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2019 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2021 us-gaap Proceeds From Sale Of Other Real Estate
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CY2020 us-gaap Proceeds From Sale Of Other Real Estate
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CY2019 us-gaap Proceeds From Sale Of Other Real Estate
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 rtlr Proceeds From Bond Offering
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CY2021 us-gaap Proceeds From Lines Of Credit
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CY2020 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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CY2019 us-gaap Proceeds From Lines Of Credit
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CY2019 us-gaap Repayments Of Lines Of Credit
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CY2020 us-gaap Payments Of Debt Issuance Costs
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CY2019 us-gaap Payments Of Debt Issuance Costs
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CY2020 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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CY2019 us-gaap Proceeds From Issuance Initial Public Offering
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CY2020 us-gaap Payments For Repurchase Of Common Stock
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CY2021 us-gaap Payments Of Dividends Common Stock
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CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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CY2019 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23927000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10633000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8564000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19897000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23927000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10633000 USD
CY2021 us-gaap Interest Paid Net
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29160000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
7381000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
2707000 USD
CY2021 rtlr Noncash Capital Contributions
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0 USD
CY2020 rtlr Noncash Capital Contributions
NoncashCapitalContributions
0 USD
CY2019 rtlr Noncash Capital Contributions
NoncashCapitalContributions
456055000 USD
CY2021 rtlr Increase In Long Term Assets And Inventory From Contributions
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0 USD
CY2020 rtlr Increase In Long Term Assets And Inventory From Contributions
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0 USD
CY2019 rtlr Increase In Long Term Assets And Inventory From Contributions
IncreaseInLongTermAssetsAndInventoryFromContributions
456055000 USD
CY2021 rtlr Increase Decrease In Accrued Capital Expenditures
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7020000 USD
CY2020 rtlr Increase Decrease In Accrued Capital Expenditures
IncreaseDecreaseInAccruedCapitalExpenditures
5328000 USD
CY2019 rtlr Increase Decrease In Accrued Capital Expenditures
IncreaseDecreaseInAccruedCapitalExpenditures
42160000 USD
CY2019Q2 us-gaap Limited Partners Contributed Capital
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CY2019Q2 us-gaap Limited Partners Contributed Capital
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1000000 USD
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1000000 USD
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726500000 USD
CY2019Q2 rtlr General Partners Capital Account Percentage Of Preferred Cash Distribution Received
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0.08
CY2021 us-gaap Number Of Reportable Segments
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1 segment
CY2021 us-gaap Prior Period Reclassification Adjustment Description
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<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. These reclassifications had no effect on the previously reported total assets, total liabilities, unitholders’ equity, results of operations or cash flows.</span></div>
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts included in or affecting the Partnership’s financial statements and related notes must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership’s disclosure of contingent assets and liabilities at the date of the financial statements. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Making accurate estimates and assumptions is particularly difficult in the oil and natural gas industry, given the challenges resulting from volatility in oil and natural gas prices. For instance, in response to the effects of COVID-19 and actions by OPEC members and other exporting nations on the supply and demand in global oil and natural gas markets, many companies in the oil and natural gas industry, including Diamondback, changed their business plans in response to changing market conditions. Such circumstances generally increase the uncertainty in the Partnership’s accounting estimates, particularly those involving financial forecasts.</span></div>The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods it considers reasonable in each particular circumstance. Nevertheless, actual results may differ significantly from the Partnership’s estimates. Any effects on the Partnership’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, (i) revenue accruals, (ii) the fair value of long-lived assets and equity method investments, and (iii)  income taxes.
CY2021Q4 rtlr Accrued Direct Operating Expense Current
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12911000 USD
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12969000 USD
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5328000 USD
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7040000 USD
CY2020Q4 rtlr Accrued Sourced Water Purchases Current
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3597000 USD
CY2021Q4 us-gaap Accounts Payable Current
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CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
139000 USD
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CY2020Q4 us-gaap Other Sundry Liabilities Current
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2454000 USD
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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48267000 USD
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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42647000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
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4262000 USD
CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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535000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Concentrations The Partnership derives substantially all of its revenue from its commercial agreements with Diamondback, which carry initial terms ending in 2034. The Partnership operates produced water disposal wells with other working interest owners. The revenues and expenses related to these disposal activities are reported on a net basis as part of revenues and costs and expenses.
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0 USD
CY2021 us-gaap Other Income
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12950000 USD
CY2020 us-gaap Other Income
OtherIncome
13692000 USD
CY2019 us-gaap Other Income
OtherIncome
14229000 USD
CY2021 us-gaap Operating Lease Lease Income
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314000 USD
CY2020 us-gaap Operating Lease Lease Income
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1029000 USD
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
904000 USD
CY2021 us-gaap Revenues
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396341000 USD
CY2020 us-gaap Revenues
Revenues
423905000 USD
CY2019 us-gaap Revenues
Revenues
447673000 USD
CY2021 rtlr Depreciation And Amortization Nonproduction Real Estate
DepreciationAndAmortizationNonproductionRealEstate
4300000 USD
CY2021Q4 us-gaap Buildings And Improvements Gross
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94825000 USD
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
102918000 USD
CY2021Q4 us-gaap Tenant Improvements
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4506000 USD
CY2020Q4 us-gaap Tenant Improvements
TenantImprovements
4506000 USD
CY2021Q4 rtlr Real Estate Investment Property Land
RealEstateInvestmentPropertyLand
964000 USD
CY2020Q4 rtlr Real Estate Investment Property Land
RealEstateInvestmentPropertyLand
2437000 USD
CY2021Q4 us-gaap Land Improvements
LandImprovements
531000 USD
CY2020Q4 us-gaap Land Improvements
LandImprovements
484000 USD
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
100826000 USD
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
110345000 USD
CY2021Q4 us-gaap Real Estate Owned Accumulated Depreciation
RealEstateOwnedAccumulatedDepreciation
16217000 USD
CY2020Q4 us-gaap Real Estate Owned Accumulated Depreciation
RealEstateOwnedAccumulatedDepreciation
13658000 USD
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
84609000 USD
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
96687000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3650000 USD
CY2020 rtlr Depreciation And Amortization Nonproduction Real Estate
DepreciationAndAmortizationNonproductionRealEstate
8000000 USD
CY2019 rtlr Depreciation And Amortization Nonproduction Real Estate
DepreciationAndAmortizationNonproductionRealEstate
7600000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
564000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
766000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
940000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1014000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
354000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
12000 USD
CY2021Q4 rtlr Property Plantand Equipment Gross Excluding Land
PropertyPlantandEquipmentGrossExcludingLand
1075405000 USD
CY2020Q4 rtlr Property Plantand Equipment Gross Excluding Land
PropertyPlantandEquipmentGrossExcludingLand
1012777000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
121507000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
100728000 USD
CY2021Q4 us-gaap Land
Land
98645000 USD
CY2020Q4 us-gaap Land
Land
85826000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1052543000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
997875000 USD
CY2021Q4 rtlr Propertyplantandequipmentnotsubjecttodepreciationamortizationoraccretion
Propertyplantandequipmentnotsubjecttodepreciationamortizationoraccretion
13100000 USD
CY2020Q4 rtlr Propertyplantandequipmentnotsubjecttodepreciationamortizationoraccretion
Propertyplantandequipmentnotsubjecttodepreciationamortizationoraccretion
27500000 USD
CY2021 us-gaap Depreciation Nonproduction
DepreciationNonproduction
43600000 USD
CY2020 us-gaap Depreciation Nonproduction
DepreciationNonproduction
43800000 USD
CY2019 us-gaap Depreciation Nonproduction
DepreciationNonproduction
33200000 USD
CY2021 us-gaap Noncash Project Abandonment Costs
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