$KNTK
Kinetik Holdings Inc.

2021 Q1 Form 10-Q Financial Statement

#000178403121000007 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $34.15M $40.87M
YoY Change -16.45% 20.75%
Cost Of Revenue $9.395M $10.59M
YoY Change -11.29% -35.42%
Gross Profit $24.75M $30.28M
YoY Change -18.25% 73.53%
Gross Profit Margin 72.49% 74.09%
Selling, General & Admin $7.263M $7.600M
YoY Change -4.43% 35.71%
% of Gross Profit 29.34% 25.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $55.97M $3.914M
YoY Change 1330.02% -48.84%
% of Gross Profit 226.14% 12.93%
Operating Expenses $11.26M $11.50M
YoY Change -2.06% -12.88%
Operating Profit $31.55M $18.65M
YoY Change 69.17% 340.84%
Interest Expense -$25.31M $7.000K
YoY Change -361671.43% -99.68%
% of Operating Profit -80.21% 0.04%
Other Income/Expense, Net -$13.42M -$44.45M
YoY Change -69.81% -1928.3%
Pretax Income $18.14M -$26.07M
YoY Change -169.57% -523.58%
Income Tax $0.00 -$700.0K
% Of Pretax Income 0.0%
Net Earnings $18.14M -$25.37M
YoY Change -171.48% -542.93%
Net Earnings / Revenue 53.11% -62.08%
Basic Earnings Per Share $0.00 -$2.16
Diluted Earnings Per Share $0.00 -$2.69
COMMON SHARES
Basic Shares Outstanding 0.000 shares 3.746M shares
Diluted Shares Outstanding 0.000 shares 16.25M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.31M $19.30M
YoY Change 165.83% -89.12%
Cash & Equivalents $51.31M $19.30M
Short-Term Investments
Other Short-Term Assets $7.787M $1.300M
YoY Change 499.0% -40.91%
Inventory $3.891M $4.209M
Prepaid Expenses
Receivables $13.21M $12.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $76.19M $37.54M
YoY Change 102.99% -83.39%
LONG-TERM ASSETS
Property, Plant & Equipment $193.4M $208.5M
YoY Change -7.24% -84.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.567B $1.337B
YoY Change 17.19% 538.39%
Other Assets $1.573B $1.342B
YoY Change 17.17% 375.66%
Total Long-Term Assets $1.766B $1.551B
YoY Change 13.89% -5.54%
TOTAL ASSETS
Total Short-Term Assets $76.19M $37.54M
Total Long-Term Assets $1.766B $1.551B
Total Assets $1.843B $1.589B
YoY Change 15.99% -14.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00
YoY Change
Accrued Expenses $6.941M $11.60M
YoY Change -40.16% -83.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $21.88M $12.73M
YoY Change 71.94% -87.4%
LONG-TERM LIABILITIES
Long-Term Debt $657.0M $468.0M
YoY Change 40.38%
Other Long-Term Liabilities $6.907M $6.424M
YoY Change 7.52% 329.12%
Total Long-Term Liabilities $6.907M $6.424M
YoY Change 7.52% -81.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.88M $12.73M
Total Long-Term Liabilities $6.907M $6.424M
Total Liabilities $906.4M $713.0M
YoY Change 27.13% 426.21%
SHAREHOLDERS EQUITY
Retained Earnings -$369.3M -$369.4M
YoY Change -0.05% 73.73%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.000K $70.20M
YoY Change
Total Liabilities & Shareholders Equity $1.843B $1.589B
YoY Change 15.99% -14.96%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $18.14M -$25.37M
YoY Change -171.48% -542.93%
Depreciation, Depletion And Amortization $55.97M $3.914M
YoY Change 1330.02% -48.84%
Cash From Operating Activities $41.59M $51.54M
YoY Change -19.29% 412.61%
INVESTING ACTIVITIES
Capital Expenditures $19.75M $19.10M
YoY Change 3.44% -88.39%
Acquisitions
YoY Change
Other Investing Activities -$11.89M -$78.50M
YoY Change -84.85% -33.47%
Cash From Investing Activities -$41.06M -$97.62M
YoY Change -57.94% -65.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $12.44M
YoY Change
Cash From Financing Activities $10.80M $59.40M
YoY Change -81.83%
NET CHANGE
Cash From Operating Activities $41.59M $51.54M
Cash From Investing Activities -$41.06M -$97.62M
Cash From Financing Activities $10.80M $59.40M
Net Change In Cash $11.33M $13.32M
YoY Change -14.91% -104.89%
FREE CASH FLOW
Cash From Operating Activities $41.59M $51.54M
Capital Expenditures $19.75M $19.10M
Free Cash Flow $21.84M $32.44M
YoY Change -32.68% -121.0%

Facts In Submission

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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
51538000 USD
CY2021Q1 apa Capital Expenditures Related To Transactions With Affiliates
CapitalExpendituresRelatedToTransactionsWithAffiliates
1330000 USD
CY2020Q1 apa Capital Expenditures Related To Transactions With Affiliates
CapitalExpendituresRelatedToTransactionsWithAffiliates
19096000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1090000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
6096000 USD
CY2021Q1 apa Equity Method Investment Contribution
EquityMethodInvestmentContribution
20522000 USD
CY2020Q1 apa Equity Method Investment Contribution
EquityMethodInvestmentContribution
82827000 USD
CY2021Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
7540000 USD
CY2020Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1552000 USD
CY2021Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
0 USD
CY2020Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
3340000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13222000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-97615000 USD
CY2021Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
11562000 USD
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2021Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
18750000 USD
CY2020Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
0 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5620000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
33000000 USD
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
72000000 USD
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11789000 USD
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2020Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
816000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2932000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
59395000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
27118000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13318000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24188000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5983000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51306000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19301000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
305000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6557000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
2328000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-355161000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8081000 USD
CY2020Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
433710000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-273000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
70195000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-247354000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
180000 USD
CY2021Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-84005000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
145000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-331034000 USD
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-top:10pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">These consolidated financial statements have been prepared by Altus Midstream Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). They reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods, on a basis consistent with the annual audited financial statements, with the exception of recently adopted accounting pronouncements. All such adjustments are of a normal recurring nature. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10-Q should be read along with Altus Midstream Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (Form 10-K), which contains a summary of the Company’s significant accounting policies and other disclosures. Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Form 10-K.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Unless the context otherwise requires, the “Company,” “ALTM” and “Altus” refers to Altus Midstream Company and its consolidated subsidiaries. “Altus Midstream” refers to Altus Midstream LP and its consolidated subsidiaries. “Apache” refers to Apache Corporation and its consolidated subsidiaries. All references to the Company’s Class A common stock, $0.0001 par value (Class A Common Stock), and Class C common stock, $0.0001 par value (Class C Common Stock), reflect such share amounts as retrospectively restated to reflect the Company’s reverse stock split, which was effected June 30, 2020. Refer to </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline"><a href="#id228e1fda5944385a92eb771030b4c4c_82" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Note—</a><a href="#id228e1fda5944385a92eb771030b4c4c_82" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">9</a><a href="#id228e1fda5944385a92eb771030b4c4c_82" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline"> Equity</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> for further information. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Nature of Operations</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Through its consolidated subsidiaries, the 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 equity interests in four separate Permian Basin pipeline entities that have access to various points along the Texas Gulf Coast. The Company’s operations consist of one reportable segment.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Organization</span></div><div style="margin-top:10pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company 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. KAAC completed its initial public offering in the second quarter of 2017.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 3, 2018, Altus Midstream LP was formed in Delaware as a limited partnership and wholly-owned subsidiary of KAAC. On August 8, 2018, KAAC and Altus Midstream LP entered into a contribution agreement (the Contribution Agreement) with certain wholly-owned subsidiaries of Apache, including four Delaware limited partnerships (collectively, Altus Midstream Operating) and their general partner (Altus Midstream Subsidiary GP LLC, a Delaware limited liability company, and together with Altus Midstream Operating, the Altus Midstream Entities). The Altus Midstream Entities were 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 and surrounding areas (Alpine High). </span></div><div style="margin-top:10pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 9, 2018 (the Closing Date) and pursuant to the terms of the 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 economic voting and non-economic voting shares in KAAC and common partnership units representing limited partner interests in Altus Midstream LP (Common Units). Following the Closing Date and in connection with the completion of the Business Combination, KAAC changed its name to Altus Midstream Company. </span></div>Ownership of Altus Midstream LPAs of and following the Closing Date and in connection with the completion of the Business Combination, the Company’s wholly-owned subsidiary, Altus Midstream GP LLC, a Delaware limited liability company (Altus Midstream GP), is the sole general partner of Altus Midstream LP. The Company operates its business through Altus Midstream LP and its subsidiaries, which include Altus Midstream Operating. The Company holds approximately 23.1 percent of the outstanding Common Units, and a controlling interest, in Altus Midstream, while Apache holds the remaining 76.9 percent.
CY2021Q1 apa Number Of Pipeline Options
NumberOfPipelineOptions
4 pipeline
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2021Q1 apa Number Of Limited Partnerships
NumberOfLimitedPartnerships
4 partnership
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. 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>
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
15842000 USD
CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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CY2020Q1 us-gaap Profit Loss
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CY2020Q1 apa Net Income Loss Available To Common Stockholders Net Of Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
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CY2020Q1 us-gaap Noncontrolling Interest In Net Income Loss Limited Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossLimitedPartnershipsRedeemable
-35552000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8081000 USD
CY2020Q1 us-gaap Earnings Per Share Basic
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-2.16
CY2020Q1 us-gaap Earnings Per Share Diluted
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CY2020Q1 us-gaap Profit Loss
ProfitLoss
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CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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-26555000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
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CY2020Q1 us-gaap Other Liabilities Noncurrent
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6424000 USD
CY2020Q1 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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863478000 USD
CY2020Q1 us-gaap Additional Paid In Capital
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122222000 USD
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2020Q1 us-gaap Profit Loss
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CY2020Q1 us-gaap Income Loss From Equity Method Investments
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15842000 USD
CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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51538000 USD
CY2021Q1 apa Other Nonoperating Income Expense Utility Credit
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7200000 USD
CY2020Q1 apa Other Nonoperating Income Expense Utility Credit
OtherNonoperatingIncomeExpenseUtilityCredit
0 USD
CY2020 apa Number Of Service Agreements With Affiliates
NumberOfServiceAgreementsWithAffiliates
3 agreement
CY2020Q4 us-gaap Partners Capital Distribution Amount Per Share
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1.50
CY2020Q4 us-gaap Proceeds From Limited Partnership Investments
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5600000 USD
CY2021Q1 us-gaap Revenues
Revenues
34146000 USD
CY2020Q1 us-gaap Revenues
Revenues
40869000 USD
CY2021Q1 apa Revenue From Contract With Customer Payment Term
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P1M
CY2021Q1 us-gaap Contract With Customer Asset Net Current
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1300000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net Current
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1000000.0 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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15907000 USD
CY2021Q1 us-gaap Property Plant And Equipment Gross
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209323000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
208870000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13034000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
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193416000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
195836000 USD
CY2021Q1 us-gaap Accumulated Capitalized Interest Costs
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10200000 USD
CY2020Q4 us-gaap Accumulated Capitalized Interest Costs
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6200000 USD
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
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CY2020Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
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CY2021Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
2306000 USD
CY2020Q1 us-gaap Interest Expense Debt
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3358000 USD
CY2021Q1 us-gaap Amortization Of Deferred Charges
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292000 USD
CY2020Q1 us-gaap Amortization Of Deferred Charges
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273000 USD
CY2021Q1 us-gaap Interest Costs Capitalized Adjustment
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0 USD
CY2020Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3358000 USD
CY2021Q1 us-gaap Interest Costs Incurred
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2598000 USD
CY2020Q1 us-gaap Interest Costs Incurred
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273000 USD
CY2021Q1 apa Accrued Taxes Other Than Income Tax Current
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3865000 USD
CY2020Q4 apa Accrued Taxes Other Than Income Tax Current
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165000 USD
CY2021Q1 apa Accrued Operations And Maintenance Expense
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1775000 USD
CY2020Q4 apa Accrued Operations And Maintenance Expense
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CY2021Q1 apa Accrued Capital Costs Current
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576000 USD
CY2020Q4 apa Accrued Capital Costs Current
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CY2021Q1 us-gaap Accrued Bonuses Current
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CY2020Q4 us-gaap Accrued Bonuses Current
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CY2021Q1 us-gaap Accrued Professional Fees Current
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CY2020Q4 us-gaap Accrued Professional Fees Current
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CY2021Q1 us-gaap Other Sundry Liabilities Current
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CY2020Q4 us-gaap Other Sundry Liabilities Current
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CY2021Q1 us-gaap Other Liabilities Current
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CY2020Q4 us-gaap Other Liabilities Current
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CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
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CY2021Q1 us-gaap Loss Contingency Accrual At Carrying Value
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0 USD
CY2021Q1 us-gaap Equity Method Investments
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CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1555182000 USD
CY2021Q1 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
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37400000 USD
CY2020Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
37700000 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1555182000 USD
CY2021Q1 apa Equity Method Investment Contribution
EquityMethodInvestmentContribution
20522000 USD
CY2021Q1 apa Proceeds From Equity Method Investment Distribution Including Return Of Capital
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31350000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
21688000 USD
CY2021Q1 apa Equity Method Investment Accumulated Other Comprehensive Income Loss
EquityMethodInvestmentAccumulatedOtherComprehensiveIncomeLoss
630000 USD
CY2021Q1 us-gaap Equity Method Investments
EquityMethodInvestments
1566672000 USD
CY2021Q1 apa Redeemable Noncontrolling Interest Redemption Value Measurement Period
RedeemableNoncontrollingInterestRedemptionValueMeasurementPeriod
P5D
CY2021Q1 apa Redeemable Noncontrolling Interest Redemption Value Measurement Period
RedeemableNoncontrollingInterestRedemptionValueMeasurementPeriod
P5D
CY2021Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
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662400000 USD
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
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575100000 USD
CY2020Q4 us-gaap Partners Capital Distribution Amount Per Share
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CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Derivative Liabilities Noncurrent
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155538000 USD
CY2021Q1 apa Redeemable Noncontrolling Interest Including Embedded Derivative Liability
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760287000 USD
CY2021Q1 apa Redeemable Noncontrolling Interest Equity Preferred Redemption Terms Internal Rate Of Return
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0.115
CY2021Q1 apa Redeemable Noncontrolling Interest Equity Preferred Redemption Terms Multiple Of Invested Capital
RedeemableNoncontrollingInterestEquityPreferredRedemptionTermsMultipleOfInvestedCapital
1.3
CY2021Q1 apa Redeemable Noncontrolling Interest Equity Preferred Redemption Terms Multiple Of Invested Capital
RedeemableNoncontrollingInterestEquityPreferredRedemptionTermsMultipleOfInvestedCapital
1.3
CY2021Q1 apa Preferred Units Invested Capital
PreferredUnitsInvestedCapital
812500000 USD
CY2021Q1 apa Redeemable Noncontrolling Interest Equity Preferred Redemption Terms Internal Rate Of Return
RedeemableNoncontrollingInterestEquityPreferredRedemptionTermsInternalRateOfReturn
0.115
CY2021Q1 apa Preferred Units Redemption Price
PreferredUnitsRedemptionPrice
713000000.0 USD
CY2020Q1 us-gaap Current Income Tax Expense Benefit
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CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3746000 shares
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.16
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
180000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3746000 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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180000 USD
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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3746000 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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16246000 shares
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.69
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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CY2020Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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CY2021Q1 us-gaap Derivative Liabilities Noncurrent
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155538000 USD
CY2021Q1 apa Embedded Derivative Expected Timing Until Exercise Of Exchange Option
EmbeddedDerivativeExpectedTimingUntilExerciseOfExchangeOption
P5Y2M12D
CY2021Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1500000 USD
CY2020Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
900000 USD
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
700000 USD
CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1900000 USD

Files In Submission

Name View Source Status
0001784031-21-000007-index-headers.html Edgar Link pending
0001784031-21-000007-index.html Edgar Link pending
0001784031-21-000007.txt Edgar Link pending
0001784031-21-000007-xbrl.zip Edgar Link pending
altmexhibit31120211q10-q.htm Edgar Link pending
altmexhibit31220211q10-q.htm Edgar Link pending
altmexhibit32120211q10-q.htm Edgar Link pending
apa-20210331.htm Edgar Link pending
apa-20210331.xsd Edgar Link pending
apa-20210331_cal.xml Edgar Link unprocessable
apa-20210331_def.xml Edgar Link unprocessable
apa-20210331_htm.xml Edgar Link completed
apa-20210331_lab.xml Edgar Link unprocessable
apa-20210331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending