2018 Q4 Form 10-Q Financial Statement
#000160206518000041 Filed on October 30, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
Revenue | $73.67M | $77.71M | $42.53M |
YoY Change | 47.42% | 82.71% | 112.7% |
Cost Of Revenue | $4.920M | $5.030M | $2.830M |
YoY Change | 67.35% | 77.74% | 97.9% |
Gross Profit | $67.45M | $72.69M | $39.71M |
YoY Change | 19.83% | 83.05% | 113.84% |
Gross Profit Margin | 91.56% | 93.54% | 93.36% |
Selling, General & Admin | $430.0K | $1.310M | $1.570M |
YoY Change | -71.9% | -16.56% | 28.69% |
% of Gross Profit | 0.64% | 1.8% | 3.95% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $17.50M | $16.50M | $11.10M |
YoY Change | 47.06% | 48.65% | 63.24% |
% of Gross Profit | 25.95% | 22.7% | 27.95% |
Operating Expenses | $17.94M | $22.87M | $15.47M |
YoY Change | 33.28% | 47.86% | 64.48% |
Operating Profit | $49.51M | $54.85M | $27.07M |
YoY Change | 15.61% | 102.63% | 155.49% |
Interest Expense | -$10.50M | -$3.711M | $859.0K |
YoY Change | 900.0% | -532.01% | 30.55% |
% of Operating Profit | -21.21% | -6.77% | 3.17% |
Other Income/Expense, Net | $450.0K | -$3.270M | -$460.0K |
YoY Change | 50.0% | 610.87% | 17.35% |
Pretax Income | $39.45M | $51.58M | $26.61M |
YoY Change | -6.23% | 93.84% | 160.85% |
Income Tax | -$1.251M | $764.0K | $0.00 |
% Of Pretax Income | -3.17% | 1.48% | 0.0% |
Net Earnings | -$688.0K | $2.346M | $26.61M |
YoY Change | -101.64% | -91.18% | 160.85% |
Net Earnings / Revenue | -0.93% | 3.02% | 62.56% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$13.42K | $48.65K | $241.0K |
COMMON SHARES | |||
Basic Shares Outstanding | 51.65M shares | 51.55M shares | 113.9M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $22.70M | $16.80M | $4.400M |
YoY Change | -6.2% | 281.82% | -43.59% |
Cash & Equivalents | $22.68M | $16.83M | $4.438M |
Short-Term Investments | |||
Other Short-Term Assets | $257.0K | $146.0K | $147.0K |
YoY Change | -27.61% | -0.68% | 58.06% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $38.82M | $38.02M | $17.20M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $65.25M | $62.75M | $25.43M |
YoY Change | 17.67% | 146.76% | 39.2% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.474B | $1.387B | $887.9M |
YoY Change | 61.2% | 56.25% | 60.79% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $17.83M | $23.35M | $34.93M |
YoY Change | -51.62% | -33.16% | 0.09% |
Total Long-Term Assets | $1.589B | $1.506B | $922.8M |
YoY Change | 65.92% | 63.23% | 57.18% |
TOTAL ASSETS | |||
Total Short-Term Assets | $65.25M | $62.75M | $25.43M |
Total Long-Term Assets | $1.589B | $1.506B | $922.8M |
Total Assets | $1.654B | $1.569B | $948.2M |
YoY Change | 63.28% | 65.47% | 56.63% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $0.00 | $4.000K | $110.0K |
YoY Change | -100.0% | -96.36% | 197.3% |
Accrued Expenses | $6.022M | $4.700M | $2.700M |
YoY Change | 123.04% | 74.07% | 50.0% |
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 | $6.022M | $4.710M | $2.857M |
YoY Change | 6.98% | 64.86% | 59.61% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $411.0M | $296.5M | $35.50M |
YoY Change | 339.57% | 735.21% | -34.86% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $411.0M | $296.5M | $35.50M |
YoY Change | 339.57% | 735.21% | -34.86% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $6.022M | $4.710M | $2.857M |
Total Long-Term Liabilities | $411.0M | $296.5M | $35.50M |
Total Liabilities | $417.0M | $301.2M | $38.36M |
YoY Change | 320.69% | 685.28% | -31.86% |
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 | $542.1M | $572.2M | $909.9M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.654B | $1.569B | $948.2M |
YoY Change | 63.28% | 65.47% | 56.63% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$688.0K | $2.346M | $26.61M |
YoY Change | -101.64% | -91.18% | 160.85% |
Depreciation, Depletion And Amortization | $17.50M | $16.50M | $11.10M |
YoY Change | 47.06% | 48.65% | 63.24% |
Cash From Operating Activities | $68.10M | $64.20M | $32.70M |
YoY Change | 51.0% | 96.33% | 96.99% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | -$4.700M | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$104.3M | -$252.8M | -$178.4M |
YoY Change | 142.56% | 41.7% | 41.03% |
Cash From Investing Activities | -$104.3M | -$257.5M | -$178.4M |
YoY Change | 142.56% | 44.34% | 41.03% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 42.00M | 177.2M | 148.7M |
YoY Change | 140.0% | 19.17% | 33.24% |
NET CHANGE | |||
Cash From Operating Activities | 68.10M | 64.20M | 32.70M |
Cash From Investing Activities | -104.3M | -257.5M | -178.4M |
Cash From Financing Activities | 42.00M | 177.2M | 148.7M |
Net Change In Cash | 5.800M | -16.10M | 3.000M |
YoY Change | -70.41% | -636.67% | 76.47% |
FREE CASH FLOW | |||
Cash From Operating Activities | $68.10M | $64.20M | $32.70M |
Capital Expenditures | $0.00 | -$4.700M | |
Free Cash Flow | $68.10M | $68.90M | |
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2018 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2018-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001602065 | ||
CY2018Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
51653956 | shares |
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | ||
dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
true | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Viper Energy Partners LP | ||
dei |
Entity Small Business
EntitySmallBusiness
|
false | ||
CY2017Q4 | fang |
Class B Units Issued
ClassBUnitsIssued
|
0 | shares |
CY2018Q3 | fang |
Class B Units Issued
ClassBUnitsIssued
|
72418500 | shares |
CY2017Q4 | fang |
Class B Units Outstanding
ClassBUnitsOutstanding
|
0 | shares |
fang |
Unitexchangerelatedtotaxconversion
Unitexchangerelatedtotaxconversion
|
2000000 | USD | |
fang |
Vnom Limited Partners Capital Account Distribution Amount Related Party
Vnom_LimitedPartnersCapitalAccountDistributionAmountRelatedParty
|
64858000 | USD | |
fang |
Vnom Limited Partners Capital Account Distribution Amount Related Party
Vnom_LimitedPartnersCapitalAccountDistributionAmountRelatedParty
|
112662000 | USD | |
CY2018Q3 | fang |
Class B Units Outstanding
ClassBUnitsOutstanding
|
72418500 | shares |
CY2018Q4 | fang |
Class B Units Outstanding
ClassBUnitsOutstanding
|
72418500 | shares |
fang |
Discreteincometaxbenefitrelatedtodeferredtaxesrecordedduringtheperiod
Discreteincometaxbenefitrelatedtodeferredtaxesrecordedduringtheperiod
|
72700000 | USD | |
fang |
Gain Losson Revaluationof Investments
GainLossonRevaluationofInvestments
|
0 | USD | |
fang |
Gain Losson Revaluationof Investments
GainLossonRevaluationofInvestments
|
-5165000 | USD | |
CY2017Q3 | fang |
Leasebonus
Leasebonus
|
322000 | USD |
fang |
Leasebonus
Leasebonus
|
2613000 | USD | |
CY2018Q3 | fang |
Leasebonus
Leasebonus
|
4205000 | USD |
fang |
Leasebonus
Leasebonus
|
5133000 | USD | |
fang |
Line Of Credit Facility Borrowing Base Number Of Redeterminations
LineOfCreditFacilityBorrowingBaseNumberOfRedeterminations
|
3 | ||
fang |
Line Of Credit Facility Borrowing Base Period Of Redetermination
LineOfCreditFacilityBorrowingBasePeriodOfRedetermination
|
P12M | ||
CY2018Q3 | fang |
Line Of Credit Facility Covenant Terms Decrease Of Borrowing Base Upon Issuance Of Additional Indebtedness Percentage
LineOfCreditFacilityCovenantTermsDecreaseOfBorrowingBaseUponIssuanceOfAdditionalIndebtednessPercentage
|
0.25 | |
CY2018Q3 | fang |
Line Of Credit Facility Covenant Terms Maximum Issuance Of Additional Indebtedness
LineOfCreditFacilityCovenantTermsMaximumIssuanceOfAdditionalIndebtedness
|
400000000 | USD |
CY2016Q4 | fang |
Partners Capitalincludingnoncontrollinginterest
PartnersCapitalincludingnoncontrollinginterest
|
547898000 | USD |
CY2017Q3 | fang |
Partners Capitalincludingnoncontrollinginterest
PartnersCapitalincludingnoncontrollinginterest
|
909860000 | USD |
CY2017Q4 | fang |
Partners Capitalincludingnoncontrollinginterest
PartnersCapitalincludingnoncontrollinginterest
|
913908000 | USD |
CY2018Q3 | fang |
Partners Capitalincludingnoncontrollinginterest
PartnersCapitalincludingnoncontrollinginterest
|
1267767000 | USD |
fang |
Proceeds From Unit Options Exercised
ProceedsFromUnitOptionsExercised
|
0 | USD | |
fang |
Proceeds From Unit Options Exercised
ProceedsFromUnitOptionsExercised
|
140000 | USD | |
fang |
Recapitalizationrelatedtotaxconversion
Recapitalizationrelatedtotaxconversion
|
-10000 | USD | |
CY2017Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2960000 | USD |
CY2018Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
4000 | USD |
CY2017Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
25754000 | USD |
CY2018Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
38018000 | USD |
CY2017Q4 | us-gaap |
Accounts Receivable Related Parties
AccountsReceivableRelatedParties
|
5142000 | USD |
CY2018Q3 | us-gaap |
Accounts Receivable Related Parties
AccountsReceivableRelatedParties
|
7758000 | USD |
CY2018Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
400000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2200000 | USD | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
434000 | USD | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
521000 | USD | |
CY2017Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1356 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
43414 | shares | |
CY2018Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1092 | shares | |
CY2017Q4 | us-gaap |
Assets
Assets
|
1013037000 | USD |
CY2018Q3 | us-gaap |
Assets
Assets
|
1568977000 | USD |
CY2017Q4 | us-gaap |
Assets Current
AssetsCurrent
|
55448000 | USD |
CY2018Q3 | us-gaap |
Assets Current
AssetsCurrent
|
62751000 | USD |
CY2015 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
258000 | USD |
CY2016 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
158157000 | USD |
CY2017 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
284371000 | USD |
us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
389628000 | USD | |
CY2017Q4 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
|
514724000 | USD |
CY2018Q3 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
|
832414000 | USD |
CY2017Q4 | us-gaap |
Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
|
589173000 | USD |
CY2018Q3 | us-gaap |
Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
|
780011000 | USD |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9213000 | USD |
CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4438000 | USD |
CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
24197000 | USD |
CY2018Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
16829000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-4775000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-7368000 | USD | |
CY2017Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2018Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
us-gaap |
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesNet
|
24367000 | USD | |
CY2018Q3 | us-gaap |
Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
|
-18651000 | USD |
CY2018Q3 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-101000 | USD |
us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
69000 | USD | |
CY2017Q4 | us-gaap |
Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
|
0 | USD |
CY2018Q3 | us-gaap |
Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
|
95551000 | USD |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD | |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-71184000 | USD | |
CY2017Q3 | us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
11068000 | USD |
us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
28587000 | USD | |
CY2018Q3 | us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
16532000 | USD |
us-gaap |
Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
|
41317000 | USD | |
CY2017Q4 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
6304000 | USD |
CY2018Q3 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
0 | USD |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.4708 | ||
CY2017Q3 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
0 | USD |
us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
0 | USD | |
CY2018Q3 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-199000 | USD |
us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
5165000 | USD | |
CY2017Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1368000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5064000 | USD | |
CY2018Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1309000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
6230000 | USD | |
CY2017Q4 | us-gaap |
General Partners Capital Account
GeneralPartnersCapitalAccount
|
0 | USD |
CY2018Q3 | us-gaap |
General Partners Capital Account
GeneralPartnersCapitalAccount
|
1000000 | USD |
us-gaap |
General Partners Capital Account Distribution Amount
GeneralPartnersCapitalAccountDistributionAmount
|
11000 | USD | |
CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
26607000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
69408000 | USD | |
CY2018Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
51576000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
151058000 | USD | |
CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
CY2017Q4 | us-gaap |
Land
Land
|
0 | USD |
CY2018Q3 | us-gaap |
Land
Land
|
5688000 | USD |
CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
99129000 | USD |
CY2018Q3 | us-gaap |
Liabilities
Liabilities
|
301210000 | USD |
CY2017Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-859000 | USD |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-2114000 | USD | |
CY2018Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-3711000 | USD |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-9061000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
1781000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
8147000 | USD | |
CY2018Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
764000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-71114000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
7156000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
12264000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
176000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
2616000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
0 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
69000 | USD | |
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
367000 | USD | |
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
1315000 | USD | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-54000 | USD | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-83000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-500000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
0 | USD | |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1013037000 | USD |
CY2018Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1568977000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
5629000 | USD |
CY2018Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4710000 | USD |
CY2017Q4 | us-gaap |
Limited Partners Capital Account
LimitedPartnersCapitalAccount
|
913908000 | USD |
CY2018Q3 | us-gaap |
Limited Partners Capital Account
LimitedPartnersCapitalAccount
|
570227000 | USD |
us-gaap |
Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
|
27640000 | USD | |
us-gaap |
Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
|
68789000 | USD | |
CY2017Q4 | us-gaap |
Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
|
113882045 | shares |
CY2018Q3 | us-gaap |
Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
|
51653956 | shares |
CY2017Q4 | us-gaap |
Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
|
113882045 | shares |
CY2018Q3 | us-gaap |
Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
|
51653956 | shares |
CY2018Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
296500000 | USD |
CY2018Q3 | us-gaap |
Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
|
475000000 | USD |
CY2018Q3 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
2000000000 | USD |
CY2018Q3 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
178500000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
202301000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
326182000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-301133000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-509964000 | USD | |
us-gaap |
Partners Capital Account Public Sale Of Units
PartnersCapitalAccountPublicSaleOfUnits
|
303137000 | USD | |
us-gaap |
Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
|
2039000 | USD | |
us-gaap |
Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
|
2166000 | USD | |
us-gaap |
Partners Capital Account Units Unitbased Compensation
PartnersCapitalAccountUnitsUnitbasedCompensation
|
110411 | shares | |
CY2017Q4 | us-gaap |
Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
|
0 | USD |
CY2018Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
23346000 | USD |
CY2017Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
399000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
526000 | USD | |
CY2018Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
640000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1479000 | USD | |
CY2017Q3 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
0 | USD |
us-gaap |
Other Operating Income
OtherOperatingIncome
|
0 | USD | |
CY2018Q3 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
12000 | USD |
us-gaap |
Other Operating Income
OtherOperatingIncome
|
120000 | USD | |
CY2017Q4 | us-gaap |
Other Partners Capital
OtherPartnersCapital
|
0 | USD |
CY2018Q3 | us-gaap |
Other Partners Capital
OtherPartnersCapital
|
990000 | USD |
CY2017Q4 | us-gaap |
Partners Capital
PartnersCapital
|
913908000 | USD |
CY2018Q3 | us-gaap |
Partners Capital
PartnersCapital
|
572217000 | USD |
us-gaap |
Partners Capital Account Acquisitions
PartnersCapitalAccountAcquisitions
|
3050000 | USD | |
us-gaap |
Partners Capital Account Option Exercise
PartnersCapitalAccountOptionExercise
|
140000 | USD | |
us-gaap |
Partners Capital Account Public Sale Of Units
PartnersCapitalAccountPublicSaleOfUnits
|
369896000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
94057000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
176414000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
26607000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
69408000 | USD | |
CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2346000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
144646000 | USD | |
us-gaap |
Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
|
69408000 | USD | |
us-gaap |
Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
|
222172000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | USD | |
CY2018Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
48466000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
77526000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
|
0.24 | |
us-gaap |
Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
|
0.69 | ||
CY2018Q3 | us-gaap |
Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
|
0.05 | |
us-gaap |
Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
|
1.85 | ||
CY2017Q3 | us-gaap |
Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
|
0.24 | |
us-gaap |
Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
|
0.69 | ||
CY2018Q3 | us-gaap |
Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
|
0.05 | |
us-gaap |
Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
|
1.85 | ||
CY2017Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-460000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1588000 | USD | |
CY2018Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-3270000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2417000 | USD | |
CY2017Q4 | us-gaap |
Notes Payable
NotesPayable
|
93500000 | USD |
CY2018Q3 | us-gaap |
Notes Payable
NotesPayable
|
296500000 | USD |
CY2017Q4 | us-gaap |
Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
|
189466000 | USD |
CY2018Q3 | us-gaap |
Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
|
230784000 | USD |
CY2017Q4 | us-gaap |
Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
|
1103897000 | USD |
CY2018Q3 | us-gaap |
Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
|
1612425000 | USD |
CY2017Q4 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
914431000 | USD |
CY2018Q3 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
1381641000 | USD |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
15466000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
41811000 | USD | |
CY2018Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
23757000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
62977000 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
27067000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
70996000 | USD | |
CY2018Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
54846000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
153475000 | USD | |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2669000 | USD |
CY2018Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
4706000 | USD |
CY2017Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
355000 | USD |
CY2018Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
146000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
36854000 | USD |
CY2018Q3 | us-gaap |
Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
|
695550000 | USD |
us-gaap |
Payments Of Capital Distribution
PaymentsOfCapitalDistribution
|
92498000 | USD | |
us-gaap |
Payments Of Capital Distribution
PaymentsOfCapitalDistribution
|
181472000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
180000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
623000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
433000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
2636000 | USD | |
us-gaap |
Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
|
301133000 | USD | |
us-gaap |
Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
|
505842000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4687000 | USD | |
us-gaap |
Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
|
0 | USD | |
us-gaap |
Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
|
2000000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
|
380412000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
|
305773000 | USD | |
us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
220500000 | USD | |
us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
557000000 | USD | |
us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
0 | USD | |
us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
124000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
441000 | USD | |
CY2017Q3 | us-gaap |
Production Tax Expense
ProductionTaxExpense
|
2825000 | USD |
us-gaap |
Production Tax Expense
ProductionTaxExpense
|
7668000 | USD | |
CY2018Q3 | us-gaap |
Production Tax Expense
ProductionTaxExpense
|
5027000 | USD |
us-gaap |
Production Tax Expense
ProductionTaxExpense
|
14133000 | USD | |
CY2017Q3 | us-gaap |
Profit Loss
ProfitLoss
|
26607000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
69408000 | USD | |
CY2018Q3 | us-gaap |
Profit Loss
ProfitLoss
|
50812000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
222172000 | USD | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
914431000 | USD |
CY2018Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1387329000 | USD |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
305500000 | USD | |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
354000000 | USD | |
CY2017Q3 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
42533000 | USD |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
112807000 | USD | |
CY2018Q3 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
78603000 | USD |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
216452000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2039000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2166000 | USD | |
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
9007760 | shares |
us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | USD | |
us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | USD | |
CY2016Q3 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
0 | USD |
CY2017Q3 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
0 | USD |
CY2018Q3 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
0 | USD |
CY2017Q3 | us-gaap |
Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
|
110377000 | shares |
us-gaap |
Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
|
101095000 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
|
48234000 | shares |
us-gaap |
Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
|
78250000 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
|
110424000 | shares |
us-gaap |
Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
|
101143000 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
|
48304000 | shares |
us-gaap |
Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
|
78319000 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
|
47000 | shares |
us-gaap |
Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
|
48000 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
|
70000 | shares |
us-gaap |
Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
|
69000 | shares | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying consolidated financial statements and related notes thereto were prepared in conformity with GAAP. All material intercompany balances and transactions are eliminated in consolidation. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These financial statements have been prepared by the Partnership without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. 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 GAAP have been omitted pursuant to such rules and regulations, although the Partnership believes the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10–Q should be read in conjunction with the Partnership’s most recent Annual Report on Form 10–K for the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2017</font><font style="font-family:inherit;font-size:10pt;">, which contains a summary of the Partnership’s significant accounting policies and other disclosures.</font></div></div> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts included in or affecting the Partnership’s financial statements and related disclosures 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. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Partnership considers reasonable in the particular circumstances. 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 estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas interests and unit–based compensation.</font></div></div> |