v3.26.1
SEGMENTS - Schedule of Adjusted EBITDA (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Total segment operating revenue $ 581,440 $ 426,738 $ 991,416 $ 870,001
Costs of sales (excluding depreciation and amortization) [1],[2] (237,592) (156,697) (426,316) (380,061)
Operating expenses (80,315) (74,604) (159,391) (144,998)
General and administrative expenses (26,261) (24,244) (70,461) (61,836)
Proportionate EMI EBITDA 74,878 88,100 144,907 175,630
Other segment items (31,366) (16,360) 51,829 34,214
Segment adjusted EBITDA 280,784 242,933 531,984 492,950
Other interest income 297 318 464 1,108
Gain (loss) on disposal of assets, net 36 25 55 65
Commodity hedging unrealized loss 49,598 37,743 2,611 19,616
Gain on sale of equity method investment       65
Equity in earnings of unconsolidated affiliates 57,383 58,705 108,571 116,183
Interest expense 54,121 56,514 107,541 112,228
Depreciation and amortization expense 103,331 93,763 205,164 186,436
Contract assets amortization 2,054 1,655 4,004 3,310
Share-based compensation 9,064 9,695 29,727 30,348
Loss on debt extinguishment 0 635 0 635
Integration costs   2,433 368 5,971
Litigation costs 5,375 2,381 16,988 5,396
Other one-time costs or amortization 1,739 2,805 3,353 6,396
Income (loss) before income taxes 137,536 81,743 131,633 103,572
Product and Service        
Segment Reporting [Line Items]        
Total segment operating revenue 577,691 424,244 983,696 864,675
Other revenue        
Segment Reporting [Line Items]        
Total segment operating revenue 3,749 2,494 7,720 5,326
Operating Segments | Midstream Logistics        
Segment Reporting [Line Items]        
Total segment operating revenue 579,336 424,305 987,017 865,160
Costs of sales (excluding depreciation and amortization) (238,087) (156,263) (426,674) (379,623)
Operating expenses (79,512) (73,888) (157,814) (143,797)
General and administrative expenses (4,509) (4,996) (10,019) (12,121)
Proportionate EMI EBITDA 0 0 0 0
Other segment items (45,906) (30,277) 4,557 (5,736)
Segment adjusted EBITDA 204,766 151,207 383,687 311,405
Other interest income 0 0 0 0
Gain (loss) on disposal of assets, net 36 25 55  
Commodity hedging unrealized loss 49,598 37,743 2,611 19,616
Gain on sale of equity method investment       65
Equity in earnings of unconsolidated affiliates 0 0 0 0
Interest expense 55 32 103 60
Depreciation and amortization expense 100,994 91,449 200,492 181,808
Contract assets amortization 2,054 1,655 4,004 3,310
Share-based compensation 0 0 0 0
Loss on debt extinguishment   0   0
Integration costs   1,972 0 4,447
Litigation costs 0 0 0 0
Other one-time costs or amortization 1,638 1,425 3,164 3,714
Income (loss) before income taxes 149,659 92,442 178,590 137,747
Operating Segments | Midstream Logistics | Product and Service        
Segment Reporting [Line Items]        
Total segment operating revenue 575,599 421,813 979,319 859,838
Operating Segments | Midstream Logistics | Other revenue        
Segment Reporting [Line Items]        
Total segment operating revenue 3,737 2,492 7,698 5,322
Operating Segments | Pipeline Transportation        
Segment Reporting [Line Items]        
Total segment operating revenue 8,660 10,107 17,779 17,319
Costs of sales (excluding depreciation and amortization) 495 (434) 358 (438)
Operating expenses (803) (716) (1,577) (1,201)
General and administrative expenses (229) (288) (489) (660)
Proportionate EMI EBITDA 74,878 88,100 144,907 175,630
Other segment items 0 0 0 0
Segment adjusted EBITDA 83,001 96,769 160,978 190,650
Other interest income 0 0 0 0
Gain (loss) on disposal of assets, net 0 0 0  
Commodity hedging unrealized loss 0 0 0 0
Gain on sale of equity method investment       0
Equity in earnings of unconsolidated affiliates 57,383 58,705 108,571 116,183
Interest expense 0 0 0 0
Depreciation and amortization expense 2,331 2,309 4,660 4,616
Contract assets amortization 0 0 0 0
Share-based compensation 0 0 0 0
Loss on debt extinguishment   0   0
Integration costs   0 0 0
Litigation costs 0 0 0 0
Other one-time costs or amortization 0 0 0 0
Income (loss) before income taxes 63,175 65,065 119,982 126,587
Operating Segments | Pipeline Transportation | Product and Service        
Segment Reporting [Line Items]        
Total segment operating revenue 2,092 2,431 4,377 4,837
Operating Segments | Pipeline Transportation | Other revenue        
Segment Reporting [Line Items]        
Total segment operating revenue 12 2 22 4
Corporate And Eliminations        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Costs of sales (excluding depreciation and amortization) 0 0 0 0
Corporate and Other        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Costs of sales (excluding depreciation and amortization) 0 0 0 0
Operating expenses 0 0 0 0
General and administrative expenses (21,523) (18,960) (59,953) (49,055)
Proportionate EMI EBITDA 0 0 0 0
Other segment items 14,540 13,917 47,272 39,950
Segment adjusted EBITDA (6,983) (5,043) (12,681) (9,105)
Other interest income 297 318 464 1,108
Gain (loss) on disposal of assets, net 0 0 0  
Commodity hedging unrealized loss 0 0 0 0
Gain on sale of equity method investment       0
Equity in earnings of unconsolidated affiliates 0 0 0 0
Interest expense 54,066 56,482 107,438 112,168
Depreciation and amortization expense 6 5 12 12
Contract assets amortization 0 0 0 0
Share-based compensation 9,064 9,695 29,727 30,348
Loss on debt extinguishment   635   635
Integration costs   461 368 1,524
Litigation costs 5,375 2,381 16,988 5,396
Other one-time costs or amortization 101 1,380 189 2,682
Income (loss) before income taxes (75,298) (75,764) (166,939) (160,762)
Corporate and Other | Product and Service        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Corporate and Other | Other revenue        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Elimination        
Segment Reporting [Line Items]        
Total segment operating revenue (6,556) (7,674) (13,380) (12,478)
Costs of sales (excluding depreciation and amortization) 6,556 7,674 13,380 12,478
Operating expenses 0 0 0 0
General and administrative expenses 0 0 0 0
Proportionate EMI EBITDA 0 0 0 0
Other segment items 0 0 0 0
Segment adjusted EBITDA 0 0 0 0
Other interest income 0 0 0 0
Gain (loss) on disposal of assets, net 0 0 0  
Commodity hedging unrealized loss 0 0 0 0
Gain on sale of equity method investment       0
Equity in earnings of unconsolidated affiliates 0 0 0 0
Interest expense 0 0 0 0
Depreciation and amortization expense 0 0 0 0
Contract assets amortization 0 0 0 0
Share-based compensation 0 0 0 0
Loss on debt extinguishment   0   0
Integration costs   0 0 0
Litigation costs 0 0 0 0
Other one-time costs or amortization 0 0 0 0
Income (loss) before income taxes 0 0 0 0
Elimination | Product and Service        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Elimination | Other revenue        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Elimination | Midstream Logistics        
Segment Reporting [Line Items]        
Total segment operating revenue 0 0 0 0
Costs of sales (excluding depreciation and amortization) (6,556) (7,674) (13,380) (12,478)
Elimination | Pipeline Transportation        
Segment Reporting [Line Items]        
Total segment operating revenue 6,556 7,674 13,380 12,478
Costs of sales (excluding depreciation and amortization) $ 0 $ 0 $ 0 $ 0
[1] Costs of sales (excluding depreciation and amortization) is net of gas service revenues totaling $110.6 million and $73.6 million for the three months ended June 30, 2026 and 2025, respectively, and $212.8 million and $135.8 million for the six months ended June 30, 2026 and 2025, respectively, for certain volumes where we function as principal.
[2] Includes amounts associated with related parties of $8.2 million and $7.0 million for the three months ended June 30, 2026 and 2025, respectively, and $15.4 million and $11.7 million for the six months ended June 30, 2026 and 2025, respectively.