$KNTK
Kinetik Holdings Inc.

2019 Q2 Form 10-Q Financial Statement

#000178403119000003 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $24.14M $12.52M $12.10M
YoY Change 92.85% 697.26%
Cost Of Revenue $14.01M $11.23M $10.99M
YoY Change 24.74%
Gross Profit $10.13M $1.290M $1.107M
YoY Change 685.58%
Gross Profit Margin 41.98% 10.31% 9.15%
Selling, General & Admin $6.000M $3.500M $5.000M
YoY Change 71.43% 218.18%
% of Gross Profit 59.21% 271.32% 451.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.107M $5.216M $3.705M
YoY Change 74.6%
% of Gross Profit 89.87% 404.34% 334.69%
Operating Expenses $15.10M $596.1K $218.3K
YoY Change 2433.25% -46.15%
Operating Profit -$4.942M -$7.468M -$7.570M
YoY Change -33.82% 574.65%
Interest Expense $806.0K $0.00 $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$508.0K $0.00 $1.171M
YoY Change -100.0%
Pretax Income -$5.928M $882.9K $953.0K
YoY Change -771.4% -256.85%
Income Tax -$400.0K $4.200M $5.000M
% Of Pretax Income 475.69% 524.67%
Net Earnings -$5.498M $582.8K $714.7K
YoY Change -1043.31% -179.49%
Net Earnings / Revenue -22.78% 4.66% 5.91%
Basic Earnings Per Share -$0.61 -$0.06 -$0.09
Diluted Earnings Per Share -$0.61 -$0.06 -$0.09
COMMON SHARES
Basic Shares Outstanding 3.746M shares 11.07M shares 139.9M shares
Diluted Shares Outstanding 3.746M shares 47.17M shares 139.9M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $376.9M $0.00 $300.0K
YoY Change -100.0%
Cash & Equivalents $376.9M $48.63K $319.8K
Short-Term Investments
Other Short-Term Assets $1.700M $200.0K $100.0K
YoY Change 750.0% 0.0% -83.33%
Inventory $6.286M
Prepaid Expenses
Receivables $9.100M
Other Receivables $0.00
Total Short-Term Assets $394.0M $238.6K $376.1K
YoY Change 165072.05% -80.42% -37.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.449B
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $527.4M $380.7M $379.8M
YoY Change 38.53% 0.74%
Other Assets $601.4M
YoY Change
Total Long-Term Assets $2.051B $380.7M $379.8M
YoY Change 438.64% 0.75% 14831023.58%
TOTAL ASSETS
Total Short-Term Assets $394.0M $238.6K $376.1K
Total Long-Term Assets $2.051B $380.7M $379.8M
Total Assets $2.445B $381.0M $380.2M
YoY Change 541.74% 0.49% 62997.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00
YoY Change
Accrued Expenses $45.00M $1.049M $740.5K
YoY Change 4189.6% 12.56% 146.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $25.30M
YoY Change
Total Short-Term Liabilities $70.55M $1.178M $1.011M
YoY Change 5889.84% 2.66% 74.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.352M $13.20M $13.20M
YoY Change -89.76% 0.0%
Total Long-Term Liabilities $131.4M $13.20M $13.20M
YoY Change 895.61% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.55M $1.178M $1.011M
Total Long-Term Liabilities $131.4M $13.20M $13.20M
Total Liabilities $202.0M $14.38M $14.22M
YoY Change 1304.13% 0.21% 2269.49%
SHAREHOLDERS EQUITY
Retained Earnings -$24.16M $1.108M $525.2K
YoY Change -2280.01% -250.63% -22205.51%
Common Stock $3.891M $4.474M
YoY Change -32.15% 18544.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $449.2M $814.3M $671.2M
YoY Change
Total Liabilities & Shareholders Equity $2.445B $381.0M $380.2M
YoY Change 541.74% 0.49% 62997.54%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$5.498M $582.8K $714.7K
YoY Change -1043.31% -179.49%
Depreciation, Depletion And Amortization $9.107M $5.216M $3.705M
YoY Change 74.6%
Cash From Operating Activities $11.60M $0.00 $0.00
YoY Change -100.0%
INVESTING ACTIVITIES
Capital Expenditures $94.80M $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$320.4M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$415.1M $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 603.0M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 11.60M 0.000 $0.00
Cash From Investing Activities -415.1M 0.000 $0.00
Cash From Financing Activities 603.0M 0.000
Net Change In Cash 199.5M 0.000 $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $11.60M $0.00 $0.00
Capital Expenditures $94.80M $0.00 $0.00
Free Cash Flow -$83.20M $0.00 $0.00
YoY Change

Facts In Submission

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CY2019Q2 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
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CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
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CY2019Q2 us-gaap Additional Paid In Capital
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CY2018Q4 us-gaap Additional Paid In Capital
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CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2019Q2 us-gaap Stockholders Equity
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CY2018Q4 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Liabilities And Stockholders Equity
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CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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apa Adjustment For Non Cash Transactions With Affiliate
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0 USD
apa Adjustment For Non Cash Transactions With Affiliate
AdjustmentForNonCashTransactionsWithAffiliate
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us-gaap Other Noncash Income Expense
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564000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 USD
us-gaap Increase Decrease In Inventories
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484000 USD
us-gaap Increase Decrease In Inventories
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267000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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311000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
0 USD
us-gaap Increase Decrease In Contract With Customer Asset
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us-gaap Increase Decrease In Contract With Customer Asset
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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apa Increase Decreasein Account Receivable From Payable To Related Parties
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3347000 USD
apa Increase Decreasein Account Receivable From Payable To Related Parties
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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apa Equity Method Investment Contribution
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210238000 USD
apa Equity Method Investment Contribution
EquityMethodInvestmentContribution
0 USD
us-gaap Payments To Acquire Equity Method Investments
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us-gaap Payments To Acquire Equity Method Investments
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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apa Finance Lease Liability Supplemental Cash Flow Disclosure
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29000000 USD
us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2018Q1 us-gaap Stockholders Equity
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CY2018Q2 us-gaap Stock Issued During Period Value New Issues
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CY2018Q2 apa Net Income Loss Available To Common Stockholders Excluding Accretion Of Redeemable Noncontrolling Interest
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q2 apa Net Income Loss Available To Common Stockholders Excluding Accretion Of Redeemable Noncontrolling Interest
NetIncomeLossAvailableToCommonStockholdersExcludingAccretionOfRedeemableNoncontrollingInterest
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CY2019Q2 us-gaap Temporary Equity Accretion To Redemption Value
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779000 USD
CY2019Q2 us-gaap Minority Interest Change In Redemption Value
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CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
449178000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Stock Issued During Period Value New Issues
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apa Net Income Loss Available To Common Stockholders Excluding Accretion Of Redeemable Noncontrolling Interest
NetIncomeLossAvailableToCommonStockholdersExcludingAccretionOfRedeemableNoncontrollingInterest
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
814345000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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apa Net Income Loss Available To Common Stockholders Excluding Accretion Of Redeemable Noncontrolling Interest
NetIncomeLossAvailableToCommonStockholdersExcludingAccretionOfRedeemableNoncontrollingInterest
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us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
779000 USD
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
449178000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Nature of Operations</span></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">    </span></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Through its consolidated subsidiaries, Altus Midstream Company owns gas gathering, processing and transmission assets in the Permian Basin of West Texas. Construction on the assets began in the fourth quarter of 2016, and operations commenced in the second quarter of 2017. Additionally, the Company owns, or has options to own, equity interests in a total of </span><span style="font-family:inherit;font-size:10pt;"><span>five</span></span><span style="font-family:inherit;font-size:10pt;"> Permian Basin pipelines. The Company’s operations consist of </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;"> reportable segment.  </span></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Organization</span></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Altus originally incorporated on December 12, 2016 in Delaware under the name Kayne Anderson Acquisition Corp. (KAAC), for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company closed its initial public offering in the second quarter of 2017.</span></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> On August 3, 2018, Altus Midstream LP was formed in Delaware as a limited partnership and wholly-owned subsidiary of the Company. On August 8, 2018, KAAC and Altus Midstream LP entered into a contribution agreement (the Contribution Agreement) with certain wholly-owned subsidiaries of Apache Corporation (Apache), including the Altus Midstream Entities. The Altus Midstream Entities comprise </span><span style="font-family:inherit;font-size:10pt;"><span>four</span></span><span style="font-family:inherit;font-size:10pt;"> Delaware limited partnerships (collectively, Altus Midstream Operating) and their general partner (Altus Midstream Subsidiary GP LLC, a Delaware limited liability company), formed by Apache between May 2016 and January 2017 for the purpose of acquiring, developing, and operating midstream oil and gas assets in the Alpine High resource play (Alpine High). </span></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On November 9, 2018 (the Closing Date) and pursuant to the terms of that certain Contribution Agreement, KAAC acquired from Apache the entire equity interests of the Altus Midstream Entities and options to acquire equity interests in five separate third-party pipeline projects (the Pipeline Options). The acquisition of the entities and the Pipeline Options is referred to herein as the Business Combination. In exchange, the consideration provided to Apache included equity consideration, comprising economic voting and non-economic voting shares in KAAC, and common units representing limited partner interests in Altus Midstream (Common Units). Following the Closing Date and in connection with the completion of the Business Combination, KAAC changed its name to Altus Midstream Company. Refer to Note </span><span style="font-family:inherit;font-size:10pt;">2</span><span style="font-family:inherit;font-size:10pt;"> — Recapitalization Transaction, for further discussion.</span></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Ownership of Altus Midstream LP</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Upon the closing of the Business Combination and as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, Altus’ wholly-owned subsidiary, Altus Midstream GP LLC (Altus Midstream GP), was the sole general partner of Altus Midstream. The Company held approximately </span><span style="font-family:inherit;font-size:10pt;"><span>23.1 percent</span></span><span style="font-family:inherit;font-size:10pt;"> of the outstanding Common Units of Altus Midstream, while Apache held the remaining </span><span style="font-family:inherit;font-size:10pt;"><span>76.9 percent</span></span><span style="font-family:inherit;font-size:10pt;">. Additionally, as of the Closing Date and as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, Apache was the largest single holder of the Company’s voting common stock, comprising </span><span style="font-family:inherit;font-size:10pt;"><span>100 percent</span></span><span style="font-family:inherit;font-size:10pt;"> of non-economic Class C Common Stock and approximately </span><span style="font-family:inherit;font-size:10pt;"><span>9.8 percent</span></span><span style="font-family:inherit;font-size:10pt;"> of economic Class A Common Stock.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On June 12, 2019, Altus Midstream issued and sold Series A Cumulative Redeemable Preferred Units (the Preferred Units) in a private offering. Concurrently, the Preferred Units were established as a new class of partnership unit representing limited partner interests in Altus Midstream pursuant to the terms of a Second Amended and Restated Agreement of Limited Partnership of Altus Midstream (the Amended LPA), and the purchasers were admitted as limited partners of Altus Midstream. For further </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">details on the terms of the Preferred Units and the rights of the holders thereof, refer to Note </span><span style="font-family:inherit;font-size:10pt;">12</span><span style="font-family:inherit;font-size:10pt;"> — Series A Cumulative Redeemable Preferred Units.</span></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Amended LPA contains certain provisions intended to ensure that a </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;">-to-one ratio is maintained, at all times and subject only to limited exceptions, between (i) the number of outstanding shares of Class A Common Stock and the number of Altus Midstream Common Units held by Altus and (ii) the number of outstanding shares of Class C Common Stock and the number of Altus Midstream Common Units held by Apache. </span></div>
CY2019Q2 apa Number Of Pipeline Options
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5 pipeline
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2019Q2 apa Number Of Limited Partnerships
NumberOfLimitedPartnerships
4 partnership
CY2019Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
68000000.0 USD
CY2018Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
67600000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Use of Estimates</span></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Preparation of financial statements in conformity with GAAP and disclosure of contingent assets and liabilities requires management to make estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. </span></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company evaluates its estimates and assumptions on a regular basis. Actual results may differ from these estimates and assumptions used in preparation of its financial statements and changes in these estimates are recorded when known.</span></div>
CY2019Q2 us-gaap Operating Lease Expense
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us-gaap Operating Lease Expense
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300000 USD
CY2019Q2 apa Finance Lease Number
FinanceLeaseNumber
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CY2019Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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326000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
652000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Two
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
622000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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445000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Four
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CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2019Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Five
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2045000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
23720000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
124000 USD
CY2019Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
410000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1921000 USD
CY2019Q2 us-gaap Finance Lease Liability
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23310000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
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591000 USD
CY2019Q2 us-gaap Finance Lease Liability Current
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23310000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
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1330000 USD
CY2019Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 USD
CY2019Q2 us-gaap Variable Lease Payment
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100000 USD
us-gaap Variable Lease Payment
VariableLeasePayment
200000 USD
CY2018Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2018Q2 us-gaap Interest Expense Debt
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us-gaap Interest Expense Debt
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CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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12517000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
57985000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24616000 USD
CY2019Q2 us-gaap Unbilled Receivables Current
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9000000.0 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
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1489640000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
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CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
40333000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24320000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
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1449307000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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1226897000 USD
CY2019Q2 us-gaap Debt Current
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23300000 USD
CY2019Q2 apa Maximum Amount Of Net Assets Available To Be Transferred
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1600000000 USD
CY2019Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
806000 USD
CY2018Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2967000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2019Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
806000 USD
CY2018Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
0 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2967000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
0 USD
CY2019Q2 us-gaap Interest Expense Debt
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1030000 USD
CY2018Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
2060000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
1739000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
4550000 USD
CY2019Q2 us-gaap Amortization Of Deferred Charges
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221000 USD
CY2018Q2 us-gaap Amortization Of Deferred Charges
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0 USD
us-gaap Amortization Of Deferred Charges
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415000 USD
us-gaap Amortization Of Deferred Charges
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0 USD
CY2019Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
773000 USD
CY2018Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
2060000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
1168000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4550000 USD
CY2019Q2 us-gaap Interest Costs Incurred
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478000 USD
CY2018Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
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us-gaap Interest Costs Incurred
InterestCostsIncurred
986000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
0 USD
CY2019Q2 apa Accrued Capital Costs Current
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33979000 USD
CY2018Q4 apa Accrued Capital Costs Current
AccruedCapitalCostsCurrent
80696000 USD
CY2019Q2 apa Accrued Taxes Other Than Income Tax Current
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6272000 USD
CY2018Q4 apa Accrued Taxes Other Than Income Tax Current
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69000 USD
CY2019Q2 apa Accrued Operating Expenses
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2800000 USD
CY2018Q4 apa Accrued Operating Expenses
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2863000 USD
CY2019Q2 us-gaap Accrued Rent Current
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1989000 USD
CY2019Q2 us-gaap Accrued Bonuses Current
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CY2018Q4 us-gaap Accrued Bonuses Current
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468000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
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591000 USD
CY2019Q2 us-gaap Interest Payable Current
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478000 USD
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
232000 USD
CY2019Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
238000 USD
CY2018Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
598000 USD
apa Class Of Warrant Or Right Expiration Period
ClassOfWarrantOrRightExpirationPeriod
P5Y
apa Class Of Warrant Or Right Redemption Price
ClassOfWarrantOrRightRedemptionPrice
0.01
apa Class Of Warrant Or Right Period Of Notice Prior To Redemption
ClassOfWarrantOrRightPeriodOfNoticePriorToRedemption
P30D
CY2019Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
47241000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
84926000 USD
CY2018Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
29369000 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
2502000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
740000 USD
CY2019Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
32611000 USD
CY2019Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2019Q2 apa Number Of Pipeline Options Exercised
NumberOfPipelineOptionsExercised
3 pipeline
CY2019Q2 apa Number Of Pipeline Options
NumberOfPipelineOptions
5 pipeline
CY2019Q2 us-gaap Equity Method Investments
EquityMethodInvestments
527379000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
91100000 USD
CY2019Q2 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
14200000 USD
CY2018Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
5800000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
91100000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
228165000 USD
apa Equity Method Investment Contribution
EquityMethodInvestmentContribution
210238000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1028000 USD
apa Equity Method Investment Accumulated Other Comprehensive Income Loss
EquityMethodInvestmentAccumulatedOtherComprehensiveIncomeLoss
1096000 USD
CY2019Q2 us-gaap Equity Method Investments
EquityMethodInvestments
527379000 USD
CY2019Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12577350 shares
apa Class Of Warrant Or Right Redemption Stock Price Trigger
ClassOfWarrantOrRightRedemptionStockPriceTrigger
18.00
apa Class Of Warrant Or Right Redemption Threshold Trading Period
ClassOfWarrantOrRightRedemptionThresholdTradingPeriod
P20D
apa Class Of Warrant Or Right Redemption Threshold Consecutive Trading Period
ClassOfWarrantOrRightRedemptionThresholdConsecutiveTradingPeriod
P30D
apa Redeemable Noncontrolling Interest Redemption Value Measurement Period
RedeemableNoncontrollingInterestRedemptionValueMeasurementPeriod
P5D
apa Redeemable Noncontrolling Interest Redemption Value Measurement Period
RedeemableNoncontrollingInterestRedemptionValueMeasurementPeriod
P5D
apa Redeemable Noncontrolling Interest Redemption Value Measurement Period
RedeemableNoncontrollingInterestRedemptionValueMeasurementPeriod
P5D
CY2019Q2 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
RedeemableNoncontrollingInterestEquityPreferredCarryingAmount
516790000 USD
CY2019Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
94459000 USD
CY2019Q2 apa Redeemable Noncontrolling Interest Equity Preferred Transaction Price Net
RedeemableNoncontrollingInterestEquityPreferredTransactionPriceNet
611249000 USD
CY2019Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
94459000 USD
CY2019Q2 apa Redeemable Noncontrolling Interest Including Embedded Derivative Liability
RedeemableNoncontrollingInterestIncludingEmbeddedDerivativeLiability
615392000 USD
CY2019Q2 apa Preferred Units Redemption Price
PreferredUnitsRedemptionPrice
628400000 USD
CY2019Q2 apa Redeemable Noncontrolling Interest Equity Preferred Redemption Terms Internal Rate Of Return
RedeemableNoncontrollingInterestEquityPreferredRedemptionTermsInternalRateOfReturn
0.115
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2293000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11621000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1193000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-24228000 USD
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74929000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
179206000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74929000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
159682000 shares
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06

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