v3.25.2
Gas and NGLs Stored Underground and Gas and NGLs Receivables and Payables
6 Months Ended
Jun. 30, 2025
Oil and Gas, Gas-Balancing Arrangement [Abstract]  
Gas and NGLs stored underground and gas and NGLs receivables and payables Gas and NGLs Stored Underground and Gas and NGLs Receivables and Payables
The operating subsidiaries of the Company provide storage services whereby they store natural gas or NGLs on behalf of customers and also periodically hold customer gas under parking and lending (PAL) services. Since the customers retain title to the gas or NGLs held by the Company in providing these services, the Company does not record the related gas or NGLs on its Condensed Consolidated Balance Sheets.

The operating subsidiaries of the Company also periodically lend gas to customers under PAL and certain firm services, and lend ethylene to customers under exchange agreements, and gas or NGLs may be owed to the Company's operating subsidiaries as a result of transportation imbalances. As of June 30, 2025, the amount of gas owed to the Company's operating subsidiaries due to gas imbalances and gas loaned under PAL and certain firm service agreements was approximately 16.8 trillion British thermal units (TBtu). Assuming an average market price during June 2025 of $2.93 per million British thermal unit (MMBtu), the market value of that gas was approximately $49.2 million. As of June 30, 2025, the amount of NGLs owed to the Company's operating subsidiaries due to imbalances was less than 0.1 million barrels, which had a market value of approximately $0.1 million. As of December 31, 2024, the amount of gas owed to the Company's operating subsidiaries due to gas imbalances and gas loaned under PAL and certain firm service agreements was approximately 9.8 TBtu. Assuming an average market price during December 2024 of $2.98 per MMBtu, the market value of that gas was approximately $29.2 million. As of December 31, 2024, the amount of NGLs owed to the Company's operating subsidiaries due to imbalances was less than 0.1 million barrels, which had a market value of approximately $0.3 million. As of June 30, 2025, and December 31, 2024, there were no amounts of ethylene owed to the Company's operating subsidiaries under exchange agreements.