
	Three Months Ended June 30, 2025
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Total
Net revenues:
Affiliate (1)	$	39,098	$	52,367	$	22,618	$	—	$	114,083
Third party	78,669		52,248		1,350		—		132,267
Total revenue	117,767		104,615		23,968		—		246,350

Cost of materials and other	21,748		84,496		13,090		—		119,334
Operating expenses	31,516		1,171		3,794		—		36,481
Income from equity method investments	—		—		—		(10,536)		(10,536)
Other segment items (2)	556		9		57		—		622
Segment EBITDA	63,947		18,939		7,027		10,536		100,449

Reconciling items to consolidated net income before income taxes:
Corporate expenses and other									10,360
Depreciation and amortization									27,097
Interest income									(23,538)
Interest expense									41,711
Income tax expense									245
Net income									$	44,574


	Three Months Ended June 30, 2024
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Total
Net revenues:
Affiliate (1)	$	51,529	$	70,899	$	34,400	$	—	$	156,828
Third party	41,114		64,701		1,985		—		107,800
Total revenue	92,643		135,600		36,385		—		264,628

Cost of materials and other	19,660		103,901		14,470		—		138,031
Operating expenses	19,546		3,273		4,534		—		27,353
Income from equity method investments	—		—		—		(7,882)		(7,882)
Other segment items (2)	(1,243)		(1,779)		629		—		(2,393)
Segment EBITDA	54,680		30,205		16,752		7,882		109,519

Reconciling items to consolidated net income before income taxes:
Corporate expenses and other									7,127
Depreciation and amortization									24,207
Amortization of marketing contract intangible									1,802
Interest income									(28)
Interest expense									35,296
Income tax expense									57
Net income									$	41,058


	Six Months Ended June 30, 2025
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Total
Net revenues:
Affiliate (1)	$	77,665	$	117,075	$	45,664	$	—	$	240,404
Third party	158,705		94,239		2,932		—		255,876
Total revenue	236,370		211,314		48,596		—		496,280

Cost of materials and other	46,092		174,149		28,117		—		248,358
Operating expenses	62,097		4,970		8,955		—		76,022
Income from equity method investments	—		—		—		(20,686)		(20,686)
Other segment items (2)	(3,705)		19		83		—		(3,603)
Segment EBITDA	131,886		32,176		11,441		20,686		196,189

Reconciling items to consolidated net income before income taxes:
Corporate expenses and other									20,614
Depreciation and amortization									54,813
Interest income									(46,085)
Interest expense									82,812
Income tax expense									427
Net income									$	83,608


	Six Months Ended June 30, 2024
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Total
Net revenues:
Affiliate (1)	$	104,082	$	123,781	$	68,590	$	—	$	296,453
Third party	84,444		131,089		4,717		—		220,250
Total revenue	188,526		254,870		73,307		—		516,703

Cost of materials and other	37,529		195,805		28,363		—		261,697
Operating expenses	39,251		7,101		9,555		—		55,907
Income from equity method investments	—		—		—		(16,372)		(16,372)
Other segment items (2)	(693)		(3,515)		510		—		(3,698)
Segment EBITDA	112,439		55,479		34,879		16,372		219,169

Reconciling items to consolidated net income before income taxes:
Corporate expenses and other									15,276
Depreciation and amortization									50,702
Amortization of marketing contract intangible									3,605
Interest income									(28)
Interest expense									75,525
Income tax expense									383
Net income									$	73,706

(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible of $1.8 million and $3.6 million for the three and six months ended June 30, 2024. There was no amortization recorded during the three and six months ended June 30, 2025, related to this intangible, as the associated agreement was terminated on August 5, 2024.

(2) Other segment items include general and administrative expense, other operating (income) loss and other income. Additionally, the wholesale marketing and terminalling segment includes amortization of the marketing contract intangible for the three and six months ended June 30, 2024.


	Three Months Ended June 30, 2025
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Depreciation and amortization	$	24,085	$	952	$	1,301	$	—	$	759	$	27,097
Capital spending (1)	$	117,218	$	65	$	1,906	$	—	$	—	$	119,189


	Three Months Ended June 30, 2024
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Depreciation and amortization	$	19,062	$	1,635	$	2,522	$	—	$	988	$	24,207
Amortization of marketing contract intangible	$	—	$	1,802	$	—	$	—	$	—	$	1,802
Capital spending (1)	$	7,351	$	105	$	2,731	$	—	$	—	$	10,187


	Six Months Ended June 30, 2025
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Depreciation and amortization	$	48,808	$	1,904	$	2,582	$	—	$	1,519	$	54,813
Capital spending (1)	$	188,529	$	155	$	2,448	$	—	$	—	$	191,132


	Six Months Ended June 30, 2024
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Depreciation and amortization	$	40,216	$	3,347	$	5,297	$	—	$	1,842	$	50,702
Amortization of marketing contract intangible	$	—	$	3,605	$	—	$	—	$	—	$	3,605
Capital spending (1)	$	22,074	$	21	$	3,257	$	—	$	—	$	25,352