file,section,pattern_matched,match_text,context
1021860_10K_2014_0000950123-15-003051.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"rs a broad line of premium drilling products designed for the drilling of extended reach, directional, horizontal, deepwater, and ultra-deep wells in both international and domestic markets. Voest-Alpine Tubulars (“VAT”). VAT is a joint venture between the Company and the Austrian based Voest-Alpine Group. The Company has a 50.01% investment in the joint venture which is located in Kindberg, Austria. VAT owns a tubular mill with an annual capacity of approximately 380,000 metric tons and is the primary supplier of green tubes for our U.S. based production. VAT is accounted for under the equity-method of accounting due to the minority owner having substantive participating rights. Tubular Coating. The Company develops, manufactures and applies its proprietary tubular coatings, known as Tube-Kote® coatings, to new and used downhole tubulars and line pipe. Tubular coatings help prevent corrosion, which extends the life of tubular assets, and reduces expensive interruptions in production. In addition, coa"
1021860_10K_2015_0001193125-16-469696.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"rs a broad line of premium drilling products designed for the drilling of extended reach, directional, horizontal, deepwater, and ultra-deep wells in both international and domestic markets. Voest-Alpine Tubulars (“VAT”). VAT is a joint venture between the Company and the Austrian based Voest-Alpine Group. The Company has a 50.01% investment in the joint venture which is located in Kindberg, Austria. VAT owns a tubular mill with an annual capacity of approximately 380,000 metric tons and is the primary supplier of green tubes for our U.S. based production. VAT is accounted for under the equity-method of accounting due to the minority owner having substantive participating rights. Tubular Coating. The Company develops, manufactures and applies its proprietary tubular coatings, known as Tube-Kote® coatings, to new and used downhole tubulars and line pipe. Tubular coatings help prevent corrosion, which extends the life of tubular assets, and reduces expensive interruptions in production. In addition, coa"
1021860_10K_2016_0001193125-17-047937.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"rs a broad line of premium drilling products designed for the drilling of extended reach, directional, horizontal, deepwater, and ultra-deep wells in both international and domestic markets. Voest-Alpine Tubulars (“VAT”). VAT is a joint venture between the Company and the Austrian based Voest-Alpine Group. The Company has a 50.11% investment in the joint venture which is located in Kindberg, Austria. VAT owns a tubular mill with an annual capacity of approximately 380,000 metric tons and is the primary supplier of green tubes, or raw material, for our U.S. based drill pipe production. VAT is accounted for under the equity-method of accounting due to the minority owner having substantive participating rights. Tubular Coating. The Company develops, manufactures and applies its proprietary tubular coatings, known as Tube-Kote® coatings, to new and used drill pipe products and line pipe. Tubular coatings help prevent corrosion, extending the life of tubular assets; reduce expensive interruptions in produc"
1021860_10K_2017_0001193125-18-048333.json,item_1,(?i)customer\s+concentration,customer concentration,"lower costs. Capitalize on and drive end-market fragmentation A key tenet of NOV’s business model is to make its technologies and products available to all industry participants. To the extent NOV can provide equipment and technology that is as good, if not better than, products developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and permits the Company to avoid customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, which has left the Company in an attractive and unique position in the marketplace as the only large-cap independent provider of technology and equipment to the oilfield service space. In the international markets, many countries are pursuing initiatives that drive local content and greater local employment in oilfield activity. These actions will likely prompt more local startup enterprises, further expan"
1021860_10K_2018_0001564590-19-002967.json,item_1,(?i)customer\s+concentration,customer concentration,"lower costs. Capitalize on and drive end-market fragmentation A key tenet of NOV’s business model is to make its technologies and products available to all industry participants. To the extent NOV can provide equipment and technology that is as good, if not better than, products developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and permits the Company to avoid customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, which has left the Company in an attractive and unique position in the marketplace as the only large-cap independent provider of technology and equipment to the oilfield service space. In the international markets, many countries are pursuing initiatives that drive local content and greater local employment in oilfield activity. These actions will likely prompt more local startup enterprises, further expan"
1021860_10K_2019_0001564590-20-004552.json,item_1,(?i)customer\s+concentration,customer concentration,"lower costs. Capitalize on and drive end-market fragmentation A key tenet of NOV’s business model is to make its technologies and products available to all industry participants. To the extent NOV can provide equipment and technology that is as good, if not better than, products developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and permits the Company to avoid customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, which has left the Company in an attractive and unique position in the marketplace as the only large-cap independent provider of technology and equipment to the oilfield service space. In the international markets, many countries are pursuing initiatives that drive local content and greater local employment in oilfield activity. These actions will likely prompt more local startup enterprises, further expan"
1021860_10K_2020_0001564590-21-005708.json,item_1,(?i)customer\s+concentration,customer concentration,"ilities to develop value-added technologies. Capitalize on and drive end-market fragmentation Technology and product availability to all industry participants is a key tenet of NOV’s business model. To the extent NOV can provide equipment and technology products that are equal to or better than those developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and avoids customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, leaving the Company in an attractive and unique position as the largest global independent technology and equipment provider to the oilfield service sector. Governments in certain international markets are pursuing initiatives that drive local content and greater local employment. These actions will likely prompt more local startup enterprises, further expanding demand for NOV’s equipment. Leverage core ca"
1021860_10K_2021_0001564590-22-004755.json,item_1,(?i)customer\s+concentration,customer concentration,"ilities to develop value-added technologies. Capitalize on and drive end-market fragmentation Technology and product availability to all industry participants is a key tenet of NOV’s business model. To the extent NOV can provide equipment and technology products that are equal to or better than those developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and avoids customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, leaving the Company in an attractive and unique position as the largest global independent technology and equipment provider to the oilfield service sector. Governments in certain international markets are pursuing initiatives that drive local content and greater local employment. The Company expects that these actions will likely prompt more local startup enterprises, further expanding demand for NOV’s eq"
1021860_10K_2022_0000950170-23-002767.json,item_1,(?i)customer\s+concentration,customer concentration,"ilities to develop value-added technologies. Capitalize on and drive end-market fragmentation Technology and product availability to all industry participants is a key tenet of NOV’s business model. To the extent NOV can provide equipment and technology products that are equal to or better than those developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and avoids customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, leaving the Company in an attractive and unique position as the largest global independent technology and equipment provider to the oilfield service sector. Governments in certain international markets are pursuing initiatives that drive local content and greater local employment. The Company expects that these actions will likely prompt more local startup enterprises, further expanding demand for NOV’s eq"
1021860_10K_2023_0000950170-24-015145.json,item_1,(?i)customer\s+concentration,customer concentration,"ilities to develop value-added technologies. Capitalize on and drive end-market fragmentation Technology and product availability to all industry participants is a key tenet of NOV’s business model. To the extent NOV can provide equipment and technology products that are equal to or better than those developed by service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and avoids customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, leaving the Company in an attractive and unique position as the largest global independent technology and equipment provider to the oilfield service sector. Governments in certain international markets are pursuing initiatives that drive local content and greater local employment. The Company expects that these actions will likely prompt more local startup enterprises, further expanding demand for NOV’s eq"
1021860_10K_2024_0000950170-25-021042.json,item_1,(?i)customer\s+concentration,customer concentration,"value-added technologies. Capitalize on and drive end-market fragmentation Technology and product availability to all industry participants is a key tenet of NOV’s business model. To the extent NOV can provide equipment and technology products that are equal to or better than those developed by the major oilfield service providers, it will prevent any one organization from having a proprietary advantage and therefore drive fragmentation. This fragmentation expands NOV’s customer base and avoids customer concentration in most of its businesses. NOV has resisted the recent trend toward vertical integration, leaving the Company in an attractive and unique position as the largest global independent technology and equipment provider to the oilfield service sector. Governments in certain international markets are pursuing initiatives that drive local content and greater local employment. The Company expects that these actions will likely prompt more local startup enterprises, further expanding demand for NOV’s eq"
1035002_10K_2014_0001035002-15-000009.json,item_1,(?i)supply\s+agreement,supply agreement,"asphalt. The refinery is connected by pipeline to marine terminals and associated dock facilities that can move and store crude oil and other feedstocks. Refined products are distributed via pipeline systems to various third-party terminals in southern California, Nevada, and Arizona. Feedstock Supply Approximately 46 percent of our current crude oil feedstock requirements are purchased through term contracts while the remaining requirements are generally purchased on the spot market. Our term supply agreements include arrangements to purchase feedstocks at market-related prices directly or indirectly from various national oil companies as well as international and U.S. oil companies. The contracts generally permit the parties to amend the contracts (or terminate them), effective as of the next scheduled renewal date, by giving the other party proper notice within a prescribed period of time (e.g., 60 days, 6 months) before expiration of the current term. The majority of the crude oil purchased under"
1035002_10K_2015_0001035002-16-000069.json,item_1,(?i)supply\s+agreement,supply agreement,"asphalt. The refinery is connected by pipeline to marine terminals and associated dock facilities that can move and store crude oil and other feedstocks. Refined products are distributed via pipeline systems to various third-party terminals in southern California, Nevada, and Arizona. Feedstock Supply Approximately 59 percent of our current crude oil feedstock requirements are purchased through term contracts while the remaining requirements are generally purchased on the spot market. Our term supply agreements include arrangements to purchase feedstocks at market-related prices directly or indirectly from various national oil companies as well as international and U.S. oil companies. The contracts generally permit the parties to amend the contracts (or terminate them), effective as of the next scheduled renewal date, by giving the other party proper notice within a prescribed period of time (e.g., 60 days, 6 months) before expiration of the current term. The majority of the crude oil purchased under"
1035002_10K_2016_0001035002-17-000009.json,item_1,(?i)supply\s+agreement,supply agreement,"sphalt. The refinery is connected by pipeline to marine terminals and associated dock facilities that can move and store crude oil and other feedstocks. Refined petroleum products are distributed via pipeline systems to various third-party terminals in southern California, Nevada, and Arizona. Feedstock Supply Approximately 55 percent of our crude oil feedstock requirements are purchased through term contracts while the remaining requirements are generally purchased on the spot market. Our term supply agreements include arrangements to purchase feedstocks at market-related prices directly or indirectly from various national oil companies as well as international and U.S. oil companies. The contracts generally permit the parties to amend the contracts (or terminate them), effective as of the next scheduled renewal date, by giving the other party proper notice within a prescribed period of time (e.g., 60 days, 6 months) before expiration of the current term. The majority of the crude oil purchased under"
1035002_10K_2017_0001035002-18-000010.json,item_1,(?i)supply\s+agreement,supply agreement,"ur crude oils. The refinery produces CARBOB gasoline, diesel, CARB diesel, jet fuel, and asphalt. The refinery is connected by pipeline to marine terminals and associated dock facilities that can move and store crude oil and other feedstocks. Refined petroleum products are distributed via pipeline systems to various third-party terminals in southern California, Nevada, and Arizona. Feedstock Supply Our crude oil feedstocks are purchased through a combination of term and spot contracts. Our term supply agreements are at market-related prices and are purchased directly or indirectly from various national oil companies as well as international and U.S. oil companies. The contracts generally permit the parties to amend the contracts (or terminate them), effective as of the next scheduled renewal date, by giving the other party proper notice within a prescribed period of time (e.g., 60 days, 6 months) before expiration of the current term. The majority of the crude oil purchased under our term contracts is"
1035002_10K_2018_0001035002-19-000008.json,item_1,(?i)supply\s+agreement,supply agreement,"sulfur crude oils. The refinery produces CARBOB gasoline, diesel, CARB diesel, jet fuel, and asphalt. The refinery is connected by pipeline to marine terminals and associated dock facilities that move and store crude oil and other feedstocks. Refined petroleum products are distributed via pipeline systems to various third-party terminals in southern California, Nevada, and Arizona. Feedstock Supply Our crude oil feedstocks are purchased through a combination of term and spot contracts. Our term supply agreements are at market-related prices and are purchased directly or indirectly from various national oil companies as well as international and U.S. oil companies. The contracts generally permit the parties to amend the contracts (or terminate them), effective as of the next scheduled renewal date, by giving the other party proper notice within a prescribed period of time (e.g., 60 days, 6 months) before expiration of the current term. The majority of the crude oil purchased under our term contracts is"
1035002_10K_2019_0001035002-20-000007.json,item_1,(?i)supply\s+agreement,supply agreement,"U.K. The refinery processes primarily sweet crude oils into gasoline, diesel, jet fuel, heating oil, and low-sulfur fuel oil. The refinery receives all of its feedstocks and delivers some of its products by ship and barge via deepwater docking facilities along the Milford Haven Waterway, with its remaining products being delivered through our Mainline pipeline system and by trucks. Feedstock Supply Our crude oil feedstocks are purchased through a combination of term and spot contracts. Our term supply agreements are at market-related prices and are purchased directly or indirectly from various national oil companies as well as international and U.S. oil companies. The contracts generally permit the parties to amend the contracts (or terminate them), effective as of the next scheduled renewal date, by giving the other party proper notice within a prescribed period of time (e.g., 60 days, 6 months) before expiration of the current term. The majority of the crude oil purchased under our term contracts is"
1035002_10K_2020_0001035002-21-000051.json,item_1,(?i)supply\s+agreement,supply agreement,"ter of 2021. Additionally, in January 2021, we and our joint venture partner approved the construction of a new 470 million gallons per year renewable diesel plant to be located next to our Port Arthur Refinery in Port Arthur, Texas. The new plant is expected to increase DGD’s total renewable diesel production capacity to almost 1.2 billion gallons per year. The DGD Plant receives rendered and recycled materials primarily by rail and trucks owned by third parties. DGD is party to a raw material supply agreement with Darling under which Darling is obligated to offer to DGD a portion of its feedstock requirements at competitive pricing, but DGD is not obligated to purchase all or any part of its feedstock from Darling. Therefore, DGD pursues the lowest cost feedstock supply available. See Item 1A, “RISK FACTORS”-Risks Related to Our Business, Industry, and Operations-Our investments in joint ventures and other entities decrease our ability to manage risk, and-Disruption of our ability to obtain crude oi"
1035002_10K_2021_0001035002-22-000007.json,item_1,(?i)supply\s+agreement,supply agreement,"I scores. While several other companies have made, or have announced interest in making, investments in renewable diesel projects, the DGD Plant is currently one of only a few operational facilities that has the capacity to process 100 percent waste and renewable feedstocks, and this feedstock flexibility currently provides a margin advantage. The DGD Plant receives waste and renewable feedstocks primarily by rail, trucks, ships, and barges owned by third parties. DGD is party to a raw material supply agreement with Darling under which Darling is obligated to offer to DGD a portion of its feedstock requirements at market pricing, but DGD is not obligated to purchase all or any part of its feedstock from Darling. Therefore, DGD pursues the most optimal feedstock supply available. DGD began an expansion of the DGD Plant in 2019 and operations commenced in the fourth quarter of 2021. This expansion increased the DGD Plant’s renewable diesel production capacity by 410 million gallons per year, bringing DG"
1035002_10K_2022_0001035002-23-000027.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"or these low-carbon products. In addition, the demand for some of these low-carbon transportation fuels tends to drive higher values for those fuels compared to petroleum-based transportation fuels due to their lower CI scores. We seek to pursue opportunities to further lower the CI of many of our products, including our low-carbon fuels. See “Our Low-Carbon Projects” below. Canada Clean Fuel Regulations (CFR) In July 2022, Canada’s federal environmental agency issued the CFR program to require primary suppliers of gasoline or diesel that is produced in or imported into Canada to reduce the CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements begins on July 1, 2023. The CFR program is in addition to Canada’s existing provincial programs (such as in Quebec, Ontario, and B"
1035002_10K_2022_0001035002-23-000027.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"to pursue opportunities to further lower the CI of many of our products, including our low-carbon fuels. See “Our Low-Carbon Projects” below. Canada Clean Fuel Regulations (CFR) In July 2022, Canada’s federal environmental agency issued the CFR program to require primary suppliers of gasoline or diesel that is produced in or imported into Canada to reduce the CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements begins on July 1, 2023. The CFR program is in addition to Canada’s existing provincial programs (such as in Quebec, Ontario, and British Columbia), which require the utilization of low-carbon fuels, and is similar to the LCFS program. As a primary supplier of gasoline and diesel in Canada, our Refining segment will be subject to the CFR program requirements effec"
1035002_10K_2022_0001035002-23-000027.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements begins on July 1, 2023. The CFR program is in addition to Canada’s existing provincial programs (such as in Quebec, Ontario, and British Columbia), which require the utilization of low-carbon fuels, and is similar to the LCFS program. As a primary supplier of gasoline and diesel in Canada, our Refining segment will be subject to the CFR program requirements effective July 1, 2023 and thus must blend low-CI fuels or purchase credits to meet the annual CI reduction requirements. As noted above under “California Low Carbon Fuel Standard (LCFS),” fuels produced by our Renewable Diesel and Ethanol segments have lower CI scores than traditional petroleum-based transportation fuels, and we expect to benefit from the increased demand for these low-carbon"
1035002_10K_2022_0001035002-23-000027.json,item_1,(?i)supply\s+agreement,supply agreement,"several other companies have made, or have announced interest in making, investments in renewable diesel projects, the DGD Plants are currently two of only a small number of operational facilities that have the capacity to process 100 percent waste and renewable feedstocks, and this feedstock flexibility currently provides a margin advantage. The DGD Plants receive waste and renewable feedstocks primarily by rail, trucks, ships, and barges owned by third parties. DGD is party to a raw material supply agreement with Darling under which Darling is obligated to offer to DGD a portion of its feedstock requirements at market pricing, but DGD is not obligated to purchase all or any part of its feedstock from Darling. Therefore, DGD pursues the most optimal feedstock supply available. DGD began an expansion of the DGD St. Charles Plant in 2019 and operations commenced in the fourth quarter of 2021. This expansion increased the DGD St. Charles Plant’s renewable diesel production capacity by approximately 410"
1035002_10K_2023_0001035002-24-000007.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"roducts. In addition, the demand for some of these low-carbon transportation fuels tends to drive higher values for those fuels compared to petroleum-based transportation fuels due to their lower CI scores. We seek to pursue opportunities to further lower the CI of many of our products, including our low-carbon fuels. See “Our Low-Carbon Projects” below. Canada Low-Carbon Fuel Programs In July 2022, Canada’s federal environmental agency issued the Clean Fuel Regulations (CFR) program to require primary suppliers of gasoline or diesel that is produced in or imported into Canada to reduce the CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements began on July 1, 2023. The CFR program is in addition to Canada’s provincial programs (such as in Quebec and Ontario), which requi"
1035002_10K_2023_0001035002-24-000007.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"ies to further lower the CI of many of our products, including our low-carbon fuels. See “Our Low-Carbon Projects” below. Canada Low-Carbon Fuel Programs In July 2022, Canada’s federal environmental agency issued the Clean Fuel Regulations (CFR) program to require primary suppliers of gasoline or diesel that is produced in or imported into Canada to reduce the CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements began on July 1, 2023. The CFR program is in addition to Canada’s provincial programs (such as in Quebec and Ontario), which require the utilization of low-carbon fuels, and is similar to the LCFS program. As a primary supplier of gasoline and diesel in Canada, our Refining segment is subject to Canada’s low-carbon fuel programs described above and thus must blen"
1035002_10K_2023_0001035002-24-000007.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements began on July 1, 2023. The CFR program is in addition to Canada’s provincial programs (such as in Quebec and Ontario), which require the utilization of low-carbon fuels, and is similar to the LCFS program. As a primary supplier of gasoline and diesel in Canada, our Refining segment is subject to Canada’s low-carbon fuel programs described above and thus must blend low-CI fuels or purchase credits to meet the annual CI reduction requirements. As noted above under “California Low Carbon Fuel Standard (LCFS),” fuels produced by our Renewable Diesel and Ethanol segments have lower CI scores than traditional petroleum-based transportation fuels, and we benefit from the increased demand for these low-carbon products as a re"
1035002_10K_2023_0001035002-24-000007.json,item_1,(?i)supply\s+agreement,supply agreement,"several other companies have made, or have announced interest in making, investments in renewable diesel projects, the DGD Plants are currently two of only a small number of operational facilities that have the capacity to process 100 percent waste and renewable feedstocks, and this feedstock flexibility currently provides a margin advantage. The DGD Plants receive waste and renewable feedstocks primarily by rail, trucks, ships, and barges owned by third parties. DGD is party to a raw material supply agreement with Darling under which Darling is obligated to offer to DGD a portion of its feedstock requirements at market pricing, but DGD is not obligated to purchase all or any part of its feedstock from Darling. Therefore, DGD pursues the most optimal feedstock supply available. DGD began an expansion of the DGD St. Charles Plant in 2019 and operations commenced in the fourth quarter of 2021. This expansion increased the DGD St. Charles Plant’s renewable diesel production capacity by approximately 410"
1035002_10K_2024_0001035002-25-000005.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"roducts. In addition, the demand for some of these low-carbon transportation fuels tends to drive higher values for those fuels compared to petroleum-based transportation fuels due to their lower CI scores. We seek to pursue opportunities to further lower the CI of many of our products, including our low-carbon fuels. See “Our Low-Carbon Projects” below. Canada Low-Carbon Fuel Programs In July 2022, Canada’s federal environmental agency issued the Clean Fuel Regulations (CFR) program to require primary suppliers of gasoline or diesel that is produced in or imported into Canada to reduce the CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low-CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements began on July 1, 2023. The CFR program is in addition to Canada’s provincial programs (such as in Quebec and Ontario), which requi"
1035002_10K_2024_0001035002-25-000005.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"ies to further lower the CI of many of our products, including our low-carbon fuels. See “Our Low-Carbon Projects” below. Canada Low-Carbon Fuel Programs In July 2022, Canada’s federal environmental agency issued the Clean Fuel Regulations (CFR) program to require primary suppliers of gasoline or diesel that is produced in or imported into Canada to reduce the CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low-CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements began on July 1, 2023. The CFR program is in addition to Canada’s provincial programs (such as in Quebec and Ontario), which require the utilization of low-carbon fuels, and is similar to the LCFS program. As a primary supplier of gasoline and diesel in Canada, our Refining segment is subject to Canada’s low-carbon fuel programs described above and thus must blen"
1035002_10K_2024_0001035002-25-000005.json,item_1,(?i)(?:key|primary|major)\s+(?:supplier|vendor),primary supplier,"CI of those products. Annual CI reduction requirements prescribed by the CFR program can be satisfied by using compliance credits that a primary supplier creates (through blending low-CI fuels) or that are purchased by them. The obligation to achieve prescribed CI reduction requirements began on July 1, 2023. The CFR program is in addition to Canada’s provincial programs (such as in Quebec and Ontario), which require the utilization of low-carbon fuels, and is similar to the LCFS program. As a primary supplier of gasoline and diesel in Canada, our Refining segment is subject to Canada’s low-carbon fuel programs described above and thus must blend low-CI fuels or purchase credits to meet the annual CI reduction requirements. As noted above under “California Low Carbon Fuel Standard (LCFS),” fuels produced by our Renewable Diesel and Ethanol segments have lower CI scores than traditional petroleum-based transportation fuels, and we benefit from the increased demand for these low-carbon products as a re"
1035002_10K_2024_0001035002-25-000005.json,item_1,(?i)supply\s+agreement,supply agreement,"also used. While several other companies have made, or have announced interest in making, investments in renewable diesel projects, the DGD Plants are currently two of only a small number of operational facilities that have the capacity to process 100 percent waste feedstocks, and this feedstock flexibility currently provides a margin advantage. The DGD Plants receive waste and renewable feedstocks primarily by rail, truck, ship, and barge owned by third parties. DGD is party to a raw material supply agreement with Darling under which Darling is obligated to offer to DGD a portion of its feedstock requirements at market pricing, but DGD is not obligated to purchase all or any part of its feedstock from Darling. Therefore, DGD pursues the most optimal feedstock supply available. The DGD St. Charles Plant has a production capacity of approximately 700 million gallons of renewable diesel and approximately 30 million gallons of renewable naphtha per year. The DGD Port Arthur Plant, which has a production"
1061219_10K_2014_0001061219-15-000007.json,item_1,(?i)major\s+customer,Major Customer,"lumes for growth capital projects or purchase such projects' end products. As noted above, part of our business strategy involves expansion through growth capital projects. See Part II, Item 7 of this annual report for information regarding our capital spending program. Commercial and Liquidity Outlook for 2015 For information regarding our commercial and liquidity outlook for the year ending December 31, 2015, see ""General Outlook for 2015"" included under Part II, Item 7 of this annual report. Major Customer Information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for 2014 was Shell Oil Company and its affiliates (collectively, ""Shell""), which accounted for 8.5% of our consolidated revenues in 2014. Our largest non-affiliated customer for 2013 and 2012 was BP p.l.c. and its affiliates, which accounted for 9.0% and 9.5%, respectively of our consolidated revenues in these years. For information regardi"
1061219_10K_2014_0001061219-15-000007.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 82%,"the Gulf Coast and provides terminaling services to major integrated oil companies, marketers, distributors and chemical companies. We acquired a controlling financial interest in Oiltanking on October 1, 2014 and completed the Oiltanking Merger on February 13, 2015. We now own 100% of the Houston Ship Channel terminal complex. Our storage and distribution network is highly integrated with the greater Houston petrochemical and refining complex. As of December 31, 2014, crude oil and condensates accounted for approximately 82% of the terminal's active storage capacity, with refined products and specialty chemicals accounting for the remaining capacity. Substantially all of the terminal's current storage capacity of 20.1 MMBbls was under firm contract at December 31, 2014. Our Houston Ship Channel terminal complex has extensive waterfront access, consisting of six deep-water ship docks and two barge docks. We can accommodate vessels with up to a 45 foot draft, including Suezmax tankers, which are the largest tankers t"
1061219_10K_2014_0001061219-15-000007.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 88%,"oducts. We acquired a controlling financial interest in Oiltanking on October 1, 2014 and completed the Oiltanking Merger on February 13, 2015. We now own 100% of the Beaumont West Terminal. Located on the Neches River near Beaumont, Texas, our Beaumont West Terminal is integrated with the Beaumont/Port Arthur petrochemical and refining complex, and provides customers with additional services, such as mixing, blending, heating and marine vapor recovery. As of December 31, 2014, refined products accounted for approximately 88% of the terminal's active storage capacity, with specialty chemicals accounting for the remaining capacity. Substantially all of the terminal's current storage capacity of 5.5 MMBbls was under firm contract at December 31, 2014. Waterfront capabilities at our Beaumont West Terminal currently consist of two deep-water ship docks that can accommodate vessels with drafts of up to 40 feet, and two barge docks that can accommodate vessels with drafts of up to 12 feet. Our Beaumont facility handles pr"
1061219_10K_2015_0001061219-16-000058.json,item_1,(?i)major\s+customer,Major Customer,"and other fee-based businesses; and § share capital costs and risks through joint ventures or alliances with strategic partners, including those that provide processing, throughput or feedstock volumes for growth capital projects or purchase such projects' end products. Commercial and Liquidity Outlook for 2016 For information regarding our commercial and liquidity outlook for the year ending December 31, 2016, see ""General Outlook for 2016"" included under Part II, Item 7 of this annual report. Major Customer Information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for 2015 was Shell Oil Company and its affiliates (collectively, ""Shell""), which accounted for 7.4% of our consolidated revenues. See Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report for additional information regarding our largest non-affiliated customers for the years ended Dec"
1061219_10K_2015_0001061219-16-000058.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 89%,"thod investment in Seaway. The following information describes each of our principal crude oil storage and marine terminals, all of which we operate. § The Houston Ship Channel Terminal is one of the largest such facilities on the Gulf Coast and provides terminaling services to major integrated oil companies, marketers, distributors and chemical companies. The major products handled at this storage and marine terminal are crude oil and condensates. At February 1, 2016, crude oil and condensates accounted for approximately 89% of the terminal's active storage capacity, with refined products and specialty chemicals accounting for the remaining capacity. We acquired the Houston Ship Channel Terminal as a result of the Oiltanking acquisition. Our Houston Ship Channel terminal complex has extensive waterfront access, consisting of six deep-water ship docks and two barge docks. The terminal can accommodate vessels with up to a 45 foot draft, including Suezmax tankers, which are the largest tankers that can navigate the Ho"
1061219_10K_2016_0001061219-17-000008.json,item_1,(?i)major\s+customer,Major Customer,"er fee-based businesses; and § share capital costs and risks through joint ventures or alliances with strategic partners, including those that provide processing, throughput or feedstock volumes for growth capital projects or the purchase of such projects’ end products. Commercial and Liquidity Outlook for 2017 For information regarding our commercial and liquidity outlook for the year ending December 31, 2017, see “General Outlook for 2017” included under Part II, Item 7 of this annual report. Major Customer Information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for 2016 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for 9.9% of our consolidated revenues. Vitol is a global energy and commodity trading company. See Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report for additional information regarding our"
1061219_10K_2017_0001061219-18-000008.json,item_1,(?i)major\s+customer,Major Customer,"er fee-based businesses; and § share capital costs and risks through joint ventures or alliances with strategic partners, including those that provide processing, throughput or feedstock volumes for growth capital projects or the purchase of such projects’ end products. Commercial and Liquidity Outlook for 2018 For information regarding our commercial and liquidity outlook for the year ending December 31, 2018, see “General Outlook for 2018” included under Part II, Item 7 of this annual report. Major Customer Information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for 2017 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for 11.2% of our consolidated revenues. Vitol is a global energy and commodity trading company. See Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report for additional information regarding ou"
1061219_10K_2017_0001061219-18-000008.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 14%,". propane waterborne exports increased from approximately 423 MBPD in 2014 to approximately 875 MBPD in 2016 and 989 MBPD in 2017. Markets in Northwest Europe, Central and South America were traditionally the main destination for U.S. LPG exports. However, starting in 2016 a shift towards Asia was underway such that in 2017 exports to Asia have taken the center stage as countries like China and India experience solid and consistent demand growth. For example, Enterprise’s exports of LPG to Asia accounted for 14% of that region’s total imports in 2016, but in 2017 that figure jumped to 43%. We believe that various factors have favored this rapid tilt towards Asia: (i) continued economic expansion in emerging Asian markets; (ii) the widening of the Panama Canal, which was completed in 2016; and (iii) favorable domestic policies in countries like India and Indonesia where the governments are subsidizing the switch to LPG for domestic use as a means for reducing pollution and protecting against deforestati"
1061219_10K_2018_0001061219-19-000007.json,item_1,(?i)major\s+customer,Major Customer,"fee-based businesses; and § share capital costs and risks through business ventures or alliances with strategic partners, including those that provide processing, throughput or feedstock volumes for growth capital projects or the purchase of such projects’ end products. Commercial and Liquidity Outlook for 2019 For information regarding our commercial and liquidity outlook for the year ending December 31, 2019, see “General Outlook for 2019” included under Part II, Item 7 of this annual report. Major Customer Information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for the years ended December 31, 2018, 2017 and 2016 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for 7.8%, 11.2% and 9.9%, respectively, of our consolidated revenues. Vitol is a global energy and commodity trading company. Business Segments General The following sections provide an overview of our busi"
1061219_10K_2018_0001061219-19-000007.json,item_1,(?i)supply\s+agreement,supply agreement,"nt from Orla, Texas to Mont Belvieu was placed into limited commercial service with an initial transportation capacity of 250 MBPD. Completion of the related 20-inch diameter Waha lateral is scheduled for the second quarter of 2019. Supported by long-term customer commitments, the Shin Oak NGL Pipeline will ultimately provide up to 550 MBPD of transportation capacity, which is expected to be available in the fourth quarter of 2019. In May 2018, Apache Corporation (“Apache”) executed a long-term supply agreement to sell all of its NGL production from the Alpine High discovery to us. Alpine High is a major hydrocarbon resource located in the Delaware Basin that encompasses rich and dry natural gas and oil-bearing horizons. Enterprise has committed to purchase up to 205 MBPD of NGLs from Apache over the initial ten-year term of the supply agreement, the term of which may be extended at the consent of the parties. In conjunction with the long-term NGL supply agreement, we granted Apache an option to acqui"
1061219_10K_2018_0001061219-19-000007.json,item_1,(?i)supply\s+agreement,supply agreement,"D of transportation capacity, which is expected to be available in the fourth quarter of 2019. In May 2018, Apache Corporation (“Apache”) executed a long-term supply agreement to sell all of its NGL production from the Alpine High discovery to us. Alpine High is a major hydrocarbon resource located in the Delaware Basin that encompasses rich and dry natural gas and oil-bearing horizons. Enterprise has committed to purchase up to 205 MBPD of NGLs from Apache over the initial ten-year term of the supply agreement, the term of which may be extended at the consent of the parties. In conjunction with the long-term NGL supply agreement, we granted Apache an option to acquire up to a 33% equity interest in our subsidiary that owns the Shin Oak NGL Pipeline. In November 2018, Apache contributed this option to Altus Midstream Company, which is a majority-owned subsidiary of Apache. The option is exercisable within sixty days after certain completion milestones are met (as defined in the underlying agreements),"
1061219_10K_2018_0001061219-19-000007.json,item_1,(?i)supply\s+agreement,supply agreement,"ation (“Apache”) executed a long-term supply agreement to sell all of its NGL production from the Alpine High discovery to us. Alpine High is a major hydrocarbon resource located in the Delaware Basin that encompasses rich and dry natural gas and oil-bearing horizons. Enterprise has committed to purchase up to 205 MBPD of NGLs from Apache over the initial ten-year term of the supply agreement, the term of which may be extended at the consent of the parties. In conjunction with the long-term NGL supply agreement, we granted Apache an option to acquire up to a 33% equity interest in our subsidiary that owns the Shin Oak NGL Pipeline. In November 2018, Apache contributed this option to Altus Midstream Company, which is a majority-owned subsidiary of Apache. The option is exercisable within sixty days after certain completion milestones are met (as defined in the underlying agreements), which we expect to occur in the second quarter of 2019. NGL fractionation We own or have interests in 16 NGL fractionato"
1061219_10K_2018_0001061219-19-000007.json,item_7,(?i)largest\s+customer,Largest customer,"Revenues from the marketing of NGLs increased $2.14 billion year-to-year primarily due to higher sales prices, which accounted for a $3.19 billion increase, partially offset by a $1.05 billion decrease due to lower sales volumes. Revenues from midstream services increased $94.7 million year-to-year primarily due to the ongoing expansion of our operations, including a $54.6 million increase attributable to our Morgan’s Point Ethane Export Terminal that was placed into service in September 2016. Largest customer information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for 2018, 2017 and 2016 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for 7.8%, 11.2% and 9.9%, respectively, of our consolidated revenues. Vitol is a global energy and commodity trading company. Operating costs and expenses Comparison of 2018 with 2017 Total operating costs and expenses for 2018 increas"
1061219_10K_2018_0001061219-19-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"ne from Orla, Texas to Mont Belvieu was placed into limited commercial service with an initial transportation capacity of 250 MBPD. Completion of the related 20-inch diameter Waha lateral is scheduled for the second quarter of 2019. Supported by long-term customer commitments, the Shin Oak NGL Pipeline will ultimately provide up to 550 MBPD of transportation capacity, which is expected to be available in the fourth quarter of 2019. In May 2018, Apache Corporation (“Apache”) executed a long-term supply agreement to sell all of its NGL production from the Alpine High discovery to us. Alpine High is a major hydrocarbon resource located in the Delaware Basin that encompasses rich and dry natural gas and oil-bearing horizons. Apache holds approximately 336,000 net acres in the Alpine High discovery. Enterprise has committed to purchase up to 205 MBPD of NGLs from Apache over the initial ten-year term of the supply agreement, the term of which may be extended at the consent of the parties. In conjunction wi"
1061219_10K_2018_0001061219-19-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"th quarter of 2019. In May 2018, Apache Corporation (“Apache”) executed a long-term supply agreement to sell all of its NGL production from the Alpine High discovery to us. Alpine High is a major hydrocarbon resource located in the Delaware Basin that encompasses rich and dry natural gas and oil-bearing horizons. Apache holds approximately 336,000 net acres in the Alpine High discovery. Enterprise has committed to purchase up to 205 MBPD of NGLs from Apache over the initial ten-year term of the supply agreement, the term of which may be extended at the consent of the parties. In conjunction with the long-term NGL supply agreement, we granted Apache an option to acquire up to a 33% equity interest in our subsidiary that owns the Shin Oak NGL Pipeline. In November 2018, Apache contributed this option to Altus Midstream Company, which is a majority-owned subsidiary of Apache. The option is exercisable within sixty days after certain completion milestones are met (as defined in the underlying agreements),"
1061219_10K_2018_0001061219-19-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"GL production from the Alpine High discovery to us. Alpine High is a major hydrocarbon resource located in the Delaware Basin that encompasses rich and dry natural gas and oil-bearing horizons. Apache holds approximately 336,000 net acres in the Alpine High discovery. Enterprise has committed to purchase up to 205 MBPD of NGLs from Apache over the initial ten-year term of the supply agreement, the term of which may be extended at the consent of the parties. In conjunction with the long-term NGL supply agreement, we granted Apache an option to acquire up to a 33% equity interest in our subsidiary that owns the Shin Oak NGL Pipeline. In November 2018, Apache contributed this option to Altus Midstream Company, which is a majority-owned subsidiary of Apache. The option is exercisable within sixty days after certain completion milestones are met (as defined in the underlying agreements), which we expect to occur in the second quarter of 2019. Enterprise Announces $2 Billion Unit Buyback Program; Provides 2"
1061219_10K_2019_0001061219-20-000014.json,item_1,(?i)major\s+customer,Major Customer,"We provide midstream energy services to producers and consumers of natural gas, NGLs, crude oil, petrochemicals and refined products. Our financial position, results of operations and cash flows are contingent on the supply of, and demand for the energy commodities we handle across our integrated midstream energy asset network. See “General Outlook for 2020” included under Part II, Item 7 of this annual report for our views on key midstream energy supply and demand fundamentals going into 2020. Major Customer Information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for the years ended December 31, 2019, 2018 and 2017 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for 10.1%, 7.8% and 11.2%, respectively, of our consolidated revenues. Vitol is a global energy and commodity trading company. Business Segments General The following sections provide an overview of our bus"
1061219_10K_2019_0001061219-20-000014.json,item_7,(?i)significant\s+customer,significant customer,"rt II, Item 8 of this annual report. Methods We Employ to Measure the Fair Value of Goodwill and Related Assets At December 31, 2019 and 2018, our goodwill balance was $5.75 billion. Goodwill represents the excess of the purchase price of an acquired business over the amounts assigned to assets acquired and liabilities assumed in the transaction. Goodwill is not amortized; however, we evaluate goodwill for impairment on December 31 of each year or when impairment indicators (e.g., the loss of a significant customer, adverse long-term supply or demand trends, or technological obsolescence of assets) are present. Testing goodwill for impairment involves a two-step process. As Step 1 of the process, if impairment indicators are present, the estimated fair value of a reporting unit to which goodwill is assigned is determined and compared to its carrying value. The fair value of a reporting unit is based on assumptions regarding the future economic prospects of the assets that comprise the reporting unit. Thes"
1061219_10K_2019_0001061219-20-000014.json,item_7,(?i)largest\s+customer,Largest customer,"ral gas plants decreased a net $285.3 million year-to-year primarily due to lower revenues attributable to the equity NGLs we receive as non-cash consideration for processing services, which accounted for a $452.3 million decrease, partially offset by the addition of revenues from our recently completed Orla facility, which accounted for a $142.8 million increase. The year-to-year decline in revenues attributable to equity NGLs is primarily due to lower NGL prices in 2019 when compared to 2018. Largest customer information Substantially all of our consolidated revenues are earned in the U.S. and derived from a wide customer base. Our largest non-affiliated customer for 2019 and 2018 was Vitol Holding B.V. and its affiliates (collectively, “Vitol”), which accounted for 10.1% and 7.8%, respectively, of our consolidated revenues. Vitol is a global energy and commodity trading company. Operating costs and expenses Total operating costs and expenses for 2019 decreased $4.34 billion when compared to 2018 pr"
1061219_10K_2020_0001061219-21-000009.json,item_1,(?i)major\s+customer,major customer,"cluding commercial, operational, environmental, safety and other matters. For a discussion of the principal effects of such laws and regulations on our business activities, see “Regulatory Matters” within this Part I, Items 1 and 2 discussion. For management’s discussion and analysis of our results of operations, liquidity and capital resources and capital investment program, see Part II, Item 7 of this annual report. For detailed financial information regarding our business segments, including major customer information, see Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report. NGL Pipelines & Services This business segment includes our natural gas processing and related NGL marketing activities, NGL pipelines, NGL fractionation facilities, NGL and related product storage facilities, and NGL marine terminals. Natural gas processing and related NGL marketing activities At the core of our natural gas processing business are 21 processing facil"
1061219_10K_2020_0001061219-21-000009.json,item_7,(?i)largest\s+customer,largest customer,"fell in 2020 due to collapsing demand for refined products as a result of the pandemic, our storage services provided valuable flexibility for our customers. In addition, our earnings from marketing activities in 2020 benefited from using uncontracted storage capacity to capture contango opportunities in NGLs, crude oil and refined products. • Across all of our assets, we have contracted with a large number of quality customers in order to achieve customer diversification. In 2020, our top 200 largest customers represented 95.3% of consolidated revenues. Based on their respective year-end 2020 debt ratings, 81.4% of our top 200 customers were either investment grade rated or backed by letters of credit. Additionally, only 8.1% of our top 200 customer revenues were attributable to sub-investment grade or non-rated upstream producers. In light of current events, we are closely monitoring the recoverability of our long-lived assets for potential impairment. We recognized a combined $890.6 million of non"
1061219_10K_2021_0001061219-22-000008.json,item_1,(?i)major\s+customer,major customer,"cluding commercial, operational, environmental, safety and other matters. For a discussion of the principal effects of such laws and regulations on our business activities, see “Regulatory Matters” within this Part I, Items 1 and 2 discussion. For management’s discussion and analysis of our results of operations, liquidity and capital resources and capital investment program, see Part II, Item 7 of this annual report. For detailed financial information regarding our business segments, including major customer information, see Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report. NGL Pipelines & Services This business segment includes our natural gas processing and related NGL marketing activities, NGL pipelines, NGL fractionation facilities, NGL and related product storage facilities, and NGL marine terminals. Natural gas processing and related NGL marketing activities At the core of our natural gas processing business are 19 processing facil"
1061219_10K_2021_0001061219-22-000008.json,item_7,(?i)largest\s+customer,largest customer,"o market opportunities. Additional production volumes could lead to higher demand for processing, transportation, fractionation and terminaling services. Storage services provide valuable flexibility for customers seeking to balance supply and demand while also allowing us to capture valuable contango and other marketing opportunities should they arise. • Our Customers - We have contracted with a large number of quality customers in order to achieve revenue diversification. In 2021, our top 200 largest customers represented 98.6% of consolidated revenues. Based on their respective year-end 2021 debt ratings, 87.0% of revenues from our top 200 customers were either investment grade rated or backed by letters of credit. Additionally, less than 3% of our top 200 customer revenues were attributable to sub-investment grade or non-rated upstream producers. • Our Liquidity - At December 31, 2021, we had $7.32 billion of consolidated liquidity, which was comprised of $4.5 billion of available borrowing capaci"
1061219_10K_2022_0001061219-23-000006.json,item_1,(?i)major\s+customer,major customer,"cluding commercial, operational, environmental, safety and other matters. For a discussion of the principal effects of such laws and regulations on our business activities, see “Regulatory Matters” within this Part I, Items 1 and 2 discussion. For management’s discussion and analysis of our results of operations, liquidity and capital resources and capital investment program, see Part II, Item 7 of this annual report. For detailed financial information regarding our business segments, including major customer information, see Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report. NGL Pipelines & Services This business segment includes our natural gas processing and related NGL marketing activities, NGL pipelines, NGL fractionation facilities, NGL and related product storage facilities, and NGL marine terminals. Natural gas processing and related NGL marketing activities At the core of our natural gas processing business are processing faciliti"
1061219_10K_2022_0001061219-23-000006.json,item_7,(?i)largest\s+customer,largest customer,"offsetting benefits either inherent in our business or that result from other steps we take proactively to reduce the impact of inflation on our operating results. These steps include revenue rate escalations based on inflation factors, fuel and electricity surcharges and additional volumetric throughputs often achieved during periods of higher prices. • Our Customers - We have contracted with a large number of quality customers in order to achieve revenue diversification. In 2022, our top 200 largest customers represented 95.3% of consolidated revenues. Based on their respective year-end 2022 debt ratings, 89.6% of revenues from our top 200 customers were either investment grade rated or backed by letters of credit. Additionally, less than 4% of our top 200 customer revenues were attributable to sub-investment grade or non-rated upstream producers. • Our Balance Sheet and Liquidity - We currently maintain investment grade credit ratings on EPO’s long-term senior unsecured debt of BBB+, Baa1 and BBB+"
1061219_10K_2023_0001061219-24-000006.json,item_1,(?i)major\s+customer,major customer,"cluding commercial, operational, environmental, safety and other matters. For a discussion of the principal effects of such laws and regulations on our business activities, see “Regulatory Matters” within this Part I, Items 1 and 2 discussion. For management’s discussion and analysis of our results of operations, liquidity and capital resources and capital investment program, see Part II, Item 7 of this annual report. For detailed financial information regarding our business segments, including major customer information, see Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report. NGL Pipelines & Services This business segment includes our natural gas processing and related NGL marketing activities, NGL pipelines, NGL fractionation facilities, NGL and related product storage facilities, and NGL marine terminals. Natural gas processing and related NGL marketing activities At the core of our natural gas processing business are processing faciliti"
1061219_10K_2023_0001061219-24-000006.json,item_7,(?i)largest\s+customer,largest customer,"t in our business or that result from other steps we take proactively to reduce the impact of inflation on our net operating results. These benefits include revenue rate escalations based on inflation factors, fuel and electricity rebills or surcharges, and increased volumetric throughput often achieved during periods of higher commodity prices. • Our Quality Customers - We have contracted with a large number of quality customers in order to achieve revenue diversification. In 2023, our top 200 largest customers represented 95.9% of our consolidated revenues. Based on their respective year-end 2023 debt ratings, 88.9% of the revenues from our top 200 customers came from companies who were either investment grade rated or backed by letters of credit. Additionally, less than 3% of our top 200 customers were attributable to sub-investment grade companies or non-rated upstream producers. • Our Balance Sheet and Liquidity - We currently maintain investment grade credit ratings on EPO’s long-term senior uns"
1061219_10K_2024_0001061219-25-000006.json,item_1,(?i)major\s+customer,major customer,"cluding commercial, operational, environmental, safety and other matters. For a discussion of the principal effects of such laws and regulations on our business activities, see “Regulatory Matters” within this Part I, Items 1 and 2 discussion. For management’s discussion and analysis of our results of operations, liquidity and capital resources and capital investment program, see Part II, Item 7 of this annual report. For detailed financial information regarding our business segments, including major customer information, see Note 10 of the Notes to Consolidated Financial Statements included under Part II, Item 8 of this annual report. NGL Pipelines & Services This business segment includes our natural gas processing and related NGL marketing activities, NGL pipelines, NGL fractionation facilities, NGL and related product storage facilities, and NGL marine terminals. Natural gas processing and related NGL marketing activities At the core of our natural gas processing business are processing faciliti"
1061219_10K_2024_0001061219-25-000006.json,item_7,(?i)largest\s+customer,largest customer,"t in our business or that result from other steps we take proactively to reduce the impact of inflation on our net operating results. These benefits include revenue rate escalations based on inflation factors, fuel and electricity rebills or surcharges, and increased volumetric throughput often achieved during periods of higher commodity prices. • Our Quality Customers - We have contracted with a large number of quality customers in order to achieve revenue diversification. In 2024, our top 200 largest customers represented 96.4% of our consolidated revenues. Based on their respective year-end 2024 debt ratings, approximately 89% of the revenues from our top 200 customers came from companies that were either investment grade rated or backed by letters of credit. Additionally, less than 3% of the revenues from our top 200 customers were attributable to sub-investment grade companies or non-rated upstream producers. • Our Balance Sheet and Liquidity - We currently maintain investment grade credit rating"
107263_10K_2014_0000107263-15-000003.json,item_1,(?i)major\s+customer,major customer,", and Wyoming. Our customer contracts provide us with extensive acreage dedications in our operating regions and generally include fee redetermination or cost of service mechanisms that are designed to support a return on invested capital and allow our gathering rates to be adjusted, subject to specified caps in certain cases, to account for variability in volume, capital expenditures, compression and other expenses. We derive certain fee-based revenues through gas gathering agreements with two major customers. Pursuant to their respective applicable gas gathering agreements, these customers have agreed to minimum volume commitments covering their respective producing regions. If the minimum annual or semi-annual volume commitment is not met, these customers are obligated to pay a fee equal to the applicable fee for each Mcf by which the applicable customer’s minimum annual or semi-annual volume commitment exceeds the actual volumes gathered. The revenue associated with such shortfall fees is recogn"
107263_10K_2014_0000107263-15-000003.json,item_7,(?i)supply\s+agreement,supply agreement,"y our Williams Partners segment. The interconnection will enable transportation of the NGL/olefins mixture on the Boreal pipeline from the new liquids extraction plant to the Redwater facilities, owned by our Williams Partners segment. We plan to place the new liquids extraction plant and interconnection with Boreal into service during the fourth quarter 2015, and expect initial NGL/olefins recoveries of approximately 12 Mbbls/d. To mitigate the associated ethane price risk, we have a long-term supply agreement with a third-party customer. Gulf Coast Expansion In November 2012, we acquired 10 liquids pipelines in the Gulf Coast region. The acquired pipelines will be combined with an organic build-out of several projects to expand our petrochemical services in that region. The projects include the construction and commissioning of pipeline systems capable of transporting various products in the Gulf Coast region. A butanes/ gasoline pipeline is expected to be placed into service in early 2015, with add"
107263_10K_2015_0000107263-16-000021.json,item_1,(?i)major\s+customer,major customer,"nd processing agreements are long-term agreements. Some contracts have price escalators which annually increase our gathering rates. In addition, certain contracts include fee redetermination or cost of service mechanisms that are designed to support a return on invested capital and allow our gathering rates to be adjusted, subject to specified caps in certain cases, to account for variability in volume, capital expenditures, compression and other expenses. Our gas gathering agreements with two major customers include MVCs covering their respective producing regions. If the minimum annual or semi-annual volume commitment is not met, these customers are obligated to pay a fee equal to the applicable fee for each Mcf by which the applicable customer’s minimum annual or semi-annual volume commitment exceeds the actual volume gathered. The revenue associated with such shortfall fees is recognized in the fourth quarter of each year. Demand for gas gathering and processing services is dependent on produce"
107263_10K_2016_0000107263-17-000003.json,item_7,(?i)customer\s+concentration,customer concentration,"f service contract to fixed-fee terms. The majority of the up-front cash proceeds from both agreements were recognized as deferred revenue and will be amortized into income in future periods. In the near term, we do not expect that our trend of reported results will be significantly impacted by the effect of the discount associated with the up-front cash proceeds relative to the original minimum volume commitments and reduced gathering rates. It was anticipated that both agreements would reduce customer concentration risk and provide support to realize additional drilling and improved volumes in these regions. Powder River basin contract restructuring In October 2016, in conjunction with our partner in the Bucking Horse natural gas processing plant and Jackalope Gas Gathering System, we announced an agreement with Chesapeake Energy Corporation to restructure gathering and processing contracts in the Powder River basin. The restructured contracts became effective in January 2017 and replaced the previous cos"
107263_10K_2019_0000107263-20-000005.json,item_1,(?i)largest\s+customer,largest customer,"natural gas distribution companies, public utilities, municipalities, direct industrial users, electric power generators, and natural gas marketers and producers. We have firm transportation and storage contracts that are generally long-term contracts with various expiration dates and account for the major portion of our regulated businesses. Additionally, we offer storage services and interruptible transportation services under shorter-term agreements. Transco’s and Northwest Pipeline’s three largest customers in 2019 accounted for approximately 28 percent and 48 percent, respectively, of their total revenues. Gathering, Processing, and Treating Assets Our gathering, processing, and treating operations are presented within our Transmission & Gulf of Mexico, Northeast G&P, and West reporting segments as described under the heading “Business Segments.” Our gathering systems receive natural gas from producers’ crude oil and natural gas wells and gather these volumes to gas processing, treating, or rede"
107263_10K_2020_0000107263-21-000006.json,item_1,(?i)largest\s+customer,largest customer,"rs, and natural gas marketers and producers. Our interstate natural gas transmission businesses are fully contracted under long-term firm reservation contracts with high credit quality customers. These contracts have various expiration dates and account for the major portion of our regulated businesses, and are not exposed to crude oil prices. Additionally, we offer storage services and interruptible transportation services under shorter-term agreements. Transco’s and Northwest Pipeline’s three largest customers in 2020 accounted for approximately 28 percent and 51 percent, respectively, of their total operating revenues. Gathering, Processing, and Treating Assets Our gathering, processing, and treating operations are presented within our Transmission & Gulf of Mexico, Northeast G&P, and West reporting segments as described under the heading “Business Segments.” Our gathering systems receive natural gas from producers’ crude oil and natural gas wells and gather these volumes to gas processing, treatin"
107263_10K_2020_0000107263-21-000006.json,item_7,(?i)significant\s+customer,significant customer,"ases in the discount rates to approximately 17 percent for these investments. We also considered any debt held at the investee level, and its impact to fair value. At that time we estimated that a one percentage point increase in the discount rate would increase these recognized impairments by approximately $32 million, while a one percentage point decrease would decrease these impairments by approximately $43 million. During the fourth quarter of 2020, RMM renegotiated service contracts with a significant customer in connection with the customer’s Chapter 11 bankruptcy proceedings. The renegotiated contracts result in lower service rates, and lower projected future cash flows. As a result, we recognized an additional $108 million impairment of our investment in RMM, measured using an income approach. Our estimate of fair value reflects a discount rate of 18 percent. We estimate that a one percentage point increase in the discount rate would increase the recognized impairment by approximately $24 million,"
107263_10K_2021_0000107263-22-000007.json,item_1,(?i)largest\s+customer,largest customer,"industrial users, electric power generators, and natural gas marketers and producers. Our interstate natural gas transmission businesses are fully contracted under long-term firm reservation contracts with high credit quality customers. These contracts have various expiration dates and account for the major portion of our regulated businesses. Additionally, we offer storage services and interruptible transportation services under shorter-term agreements. Transco’s and Northwest Pipeline’s three largest customers in 2021 accounted for approximately 26 percent and 52 percent, respectively, of their total operating revenues. Gathering, Processing, and Treating Assets Our gathering, processing, and treating operations are presented within our Transmission & Gulf of Mexico, Northeast G&P, and West reporting segments as described under the heading “Business Segments.” Our gathering systems receive natural gas from producers’ crude oil and natural gas wells and gather these volumes to gas processing, treatin"
107263_10K_2022_0000107263-23-000007.json,item_1,(?i)largest\s+customer,largest customer,"al users, electric power generators, and natural gas marketers and producers. Most of our interstate natural gas transmission businesses are fully contracted under long-term firm reservation contracts with high credit quality customers. These contracts have various expiration dates and account for the major portion of our regulated businesses. Additionally, we offer storage services and interruptible transportation services under shorter-term agreements. Transco’s and Northwest Pipeline’s three largest customers in 2022 accounted for approximately 23 percent and 51 percent, respectively, of their total operating revenues. Gathering, Processing, and Treating Assets Our gathering, processing, and treating operations are presented within our Transmission & Gulf of Mexico, Northeast G&P, and West reporting segments as described under the heading “Business Segments.” Our gathering systems receive natural gas from producers’ crude oil and natural gas wells and gather these volumes to gas processing, treatin"
107263_10K_2023_0000107263-24-000019.json,item_1,(?i)largest\s+customer,largest customer,"blic utilities, municipalities, direct industrial users, electric power generators, and natural gas marketers and producers. Most of these natural gas storage businesses are fully contracted under long-term firm reservation contracts with high credit quality customers. The contracts have various expiration dates and account for the major portion of the entities’ businesses. Additionally, we offer storage services and interruptible transportation services under shorter-term agreements. The three largest customers of this business in 2023 accounted for approximately 32 percent of its total operating revenues. BUSINESS SEGMENTS Consistent with the manner in which our chief operating decision maker evaluates performance and allocates resources, our operations are conducted, managed, and presented in Part I of this Annual Report within the following reportable segments: Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services. All remaining business activities, including our ups"
107263_10K_2024_0000107263-25-000031.json,item_1,(?i)largest\s+customer,largest customer,"rm reservation contracts with high credit quality customers. These contracts have various expiration dates and account for the major portion of these regulated businesses. Additionally, Williams offers storage services and interruptible transportation services under shorter-term agreements. The top ten customers of the interstate natural gas pipelines in 2024 accounted for approximately 45 percent of Williams’ regulated interstate natural gas transportation and storage revenues. Transco’s three largest customers in 2024 accounted for approximately 20 percent of Transco’s total operating revenues. Transco’s firm transportation agreements are generally long-term agreements with various expiration dates and account for the major portion of its business. During 2024, NWP’s three largest customers were Puget Sound Energy, Inc., Cascade Natural Gas Corporation, and Northwest Natural Gas Company, which accounted for approximately 31 percent, 10 percent, and 11 percent, respectively, of NWP total operating re"
107263_10K_2024_0000107263-25-000031.json,item_1,(?i)largest\s+customer,largest customer,"ents. The top ten customers of the interstate natural gas pipelines in 2024 accounted for approximately 45 percent of Williams’ regulated interstate natural gas transportation and storage revenues. Transco’s three largest customers in 2024 accounted for approximately 20 percent of Transco’s total operating revenues. Transco’s firm transportation agreements are generally long-term agreements with various expiration dates and account for the major portion of its business. During 2024, NWP’s three largest customers were Puget Sound Energy, Inc., Cascade Natural Gas Corporation, and Northwest Natural Gas Company, which accounted for approximately 31 percent, 10 percent, and 11 percent, respectively, of NWP total operating revenues for the year ended December 31, 2024. No other customer accounted for more than 10 percent of NWP total operating revenues during that period. Natural Gas Gathering and Processing Assets Williams’ gathering, processing, and treating operations are presented within the Transmissi"
107263_10K_2024_0000107263-25-000031.json,item_1,(?i)largest\s+customer,largest customer,"Williams stores natural gas for a broad mix of customers, including local natural gas distribution companies, public utilities, municipalities, direct industrial users, electric power generators, and natural gas marketers and producers. Most of these natural gas storage businesses are fully contracted under long-term firm reservation contracts with high credit quality customers. The contracts have various expiration dates and account for the major portion of the entities’ businesses. The three largest customers of this business in 2024 accounted for approximately 21 percent of its total operating revenues. Business Segments Consistent with the manner in which Williams’ chief operating decision maker evaluates performance and allocates resources, Williams’ operations are conducted, managed, and presented in Part I of this Annual Report within the following reportable segments: Transmission & Gulf of America, Northeast G&P, West, and Gas & NGL Marketing Services. All remaining business activities, incl"
1090012_10K_2018_0001564590-19-003382.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 11%,"y with production from our proved developed reserves. Moreover, our proved reserves have generally been sufficient to satisfy our delivery commitments during the three most recent years, and we expect such reserves will continue to be the primary means of fulfilling our future commitments. However, where our proved reserves are not sufficient to satisfy our delivery commitments, we can and may use spot market purchases to satisfy the commitments. Customers During 2018, we had one purchaser that accounted for approximately 11% of our consolidated sales revenue. During 2017 and 2016, no purchaser accounted for over 10% of our consolidated sales revenue. Competition See “Item 1A. Risk Factors.” Public Policy and Government Regulation Our industry is subject to a wide range of regulations. Laws, rules, regulations, taxes, fees and other policy implementation actions affecting our industry have been pervasive and are under constant review for amendment or expansion. Numerous government agencies have issued extensive regu"
1090012_10K_2019_0001564590-20-005182.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 11%,"rally been sufficient to satisfy our delivery commitments during the three most recent years, and we expect such reserves will continue to be the primary means of fulfilling our future commitments. However, where our proved reserves are not sufficient to satisfy our delivery commitments, we can and may use spot market purchases to satisfy the commitments. Customers During 2019 and 2017, no purchaser accounted for over 10% of our consolidated sales revenue. During 2018, we had one purchaser that accounted for approximately 11% of our consolidated sales revenue. Competition See “Item 1A. Risk Factors.” Public Policy and Government Regulation Our industry is subject to a wide range of regulations. Laws, rules, regulations, taxes, fees and other policy implementation actions affecting our industry have been pervasive and are under constant review for amendment or expansion. Numerous government agencies have issued extensive regulations which are binding on our industry and its individual members, some of which carry sub"
1163165_10K_2022_0001163165-23-000006.json,item_1,(?i)supply\s+agreement,supply agreement,"as used to fulfill the contract can be the spot market or a combination of our reserves and the spot market. Worldwide, we are contractually committed to deliver approximately 578 billion cubic feet of natural gas, 345 million barrels of crude oil and 12.9 million megawatt hours of electricity in the future. These contracts have various expiration dates through the year 2030. We expect to fulfill these delivery commitments with third-party purchases, as supported by our gas management and power supply agreements; proved developed reserves; and PUDs. See the disclosure on “Proved Undeveloped Reserves” in the “Supplementary Data - Oil and Gas Operations” section following the Notes to Consolidated Financial Statements, for information on the development of PUDs. Competition ConocoPhillips is one of the world’s leading E&P companies based on both production and reserves, with a globally diversified asset portfolio. We compete with private, public and state-owned companies in all facets of the E&P busines"
1163165_10K_2023_0001163165-24-000010.json,item_1,(?i)supply\s+agreement,supply agreement,"as used to fulfill the contract can be the spot market or a combination of our reserves and the spot market. Worldwide, we are contractually committed to deliver approximately 440 billion cubic feet of natural gas, 275 million barrels of crude oil and 15.9 million megawatt hours of electricity in the future. These contracts have various expiration dates through the year 2030. We expect to fulfill these delivery commitments with third-party purchases, as supported by our gas management and power supply agreements; proved developed reserves and PUDs. See the disclosure on “Proved Undeveloped Reserves” in the “Supplementary Data - Oil and Gas Operations” section following the Notes to Consolidated Financial Statements, for information on the development of PUDs. Competition ConocoPhillips is one of the world’s leading E&P companies based on both production and reserves, with a globally diversified asset portfolio. We compete with private, public and state-owned companies in all facets of the E&P business"
1163165_10K_2024_0001163165-25-000012.json,item_1,(?i)supply\s+agreement,supply agreement,"ource of the natural gas used to fulfill the contract can be the spot market or a combination of our reserves and the spot market. Worldwide, we are contractually committed to deliver approximately 675 billion cubic feet of natural gas and 253 million barrels of crude oil in the future. These contracts have various expiration dates through the year 2034. We have a variety of options to fulfill our delivery commitments including third-party purchases, as supported by our gas management and power supply agreements, proved developed reserves and PUDs. See the disclosure on “Proved Undeveloped Reserves” in the “Supplementary Data - Oil and Gas Operations” section following the Notes to Consolidated Financial Statements, for information on the development of PUDs. Competition ConocoPhillips is one of the world’s leading E&P companies based on both production and reserves, with a globally diversified asset portfolio. We compete with private, public and state-owned companies in all facets of the E&P business"
1276187_10K_2014_0001276187-15-000014.json,item_7,(?i)significant\s+customer,significant customer,"and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of natural gas, our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. Property, Plant and Equipment. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expendi"
1276187_10K_2015_0001276187-16-000132.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 18%,"egatively impacted; however, we are monitoring these customers and mitigating credit risk as necessary. During the year ended December 31, 2015, none of our customers individually accounted for more than 10% of our consolidated revenues. WMB operates in many of the same lines of the business as our subsidiaries and therefore has many of the same or similar counterparties. For the year ended December 31, 2015, WMB has reported that one customer, Chesapeake Energy Corporation, and its affiliates, accounted for 18% of WMB’s total revenue. Regulation of Interstate Natural Gas Pipelines. The FERC has broad regulatory authority over the business and operations of interstate natural gas pipelines. Under the Natural Gas Act (“NGA”), the FERC generally regulates the transportation of natural gas in interstate commerce. For FERC regulatory purposes, “transportation” includes natural gas pipeline transmission (forwardhauls and backhauls), storage and other services. The Florida Gas Transmission, Transwestern, Pan"
1276187_10K_2015_0001276187-16-000132.json,item_7,(?i)significant\s+customer,significant customer,"and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of natural gas, our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. Property, Plant and Equipment. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expendi"
1276187_10K_2016_0001276187-17-000023.json,item_7,(?i)significant\s+customer,significant customer,"and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of natural gas, our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. Property, Plant and Equipment. Expenditures for maintenance and repairs that do not add capacity or extend the useful life are expensed as incurred. Expendi"
1276187_10K_2017_0001276187-18-000011.json,item_7,(?i)major\s+customer,major customer,"fshore assets. • A $141 million impairment of ETP’s equity method investment in FEP. ETP concluded that the carrying value of its investment in FEP was other than temporarily impaired based on an anticipated decrease in production in the Fayetteville basin and a customer re-contracting with a competitor during 2017. • A $172 million impairment of ETP’s equity method investment in HPC primarily due to a decrease in projected future revenues and cash flows driven be the bankruptcy of one of HPC’s major customers in 2017 and an expectation that contracts expiring in the next few years will be renewed at lower tariff rates and lower volumes. During the year ended December 31, 2016, ETP recorded following goodwill impairments: • A $638 million goodwill impairment and a $133 million impairment to property, plant and equipment were recorded in its interstate transportation and storage operations primarily due to decreases in projected future revenues and cash flows driven by changes in the markets that the"
1276187_10K_2017_0001276187-18-000011.json,item_7,(?i)significant\s+customer,significant customer,"future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, the Partnership makes certain estimates and assumptions, including, among other things, changes in general economic conditions in the Partnership’s operating regions, the availability and prices of natural gas, the ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. If future results are not consistent with the Partnership’s estimates, future impairment losses that could be material may be recorded to our results of operations. The Partnership determined the fair value of its reporting units using a weighted combination of the discounted cash flow method and the guideline company method. Determining the fair value of a reporting unit requires judgment and"
1276187_10K_2017_0001276187-18-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"d ASU 2014-09 on January 1, 2018. The Partnership applied the cumulative catchup transition method and recognized the cumulative effect of the retrospective application of the standard. The effect of the retrospective application of the standard was not material. For future periods, ETP expects that the adoption of this standard will result in a change to revenues with offsetting changes to costs associated primarily with the designation of certain of its midstream agreements to be in-substance supply agreements, requiring amounts that had previously been reported as revenue under these agreements to be reclassified to a reduction of cost of sales. Changes to revenues along with offsetting changes to costs will also occur due to changes in the accounting for noncash consideration in multiple of our reportable segments, as well as fuel usage and loss allowances. None of these changes is expected to have a material impact on net income. We have determined that the timing and/or amount of revenue that we"
1276187_10K_2018_0001276187-19-000011.json,item_7,(?i)major\s+customer,major customer,"irment of the Partnership’s equity method investment in FEP. The Partnership concluded that the carrying value of its investment in FEP was other than temporarily impaired based on an anticipated decrease in production in the Fayetteville basin and a customer re-contracting with a competitor during 2017. • a $172 million impairment of the Partnership’s equity method investment in HPC primarily due to a decrease in projected future revenues and cash flows driven be the bankruptcy of one of HPC’s major customers in 2017 and an expectation that contracts expiring in the next few years will be renewed at lower tariff rates and lower volumes. • For 2017, Sunoco LP also recognized impairments of $404 million, of which $119 million was allocated to continuing operations, as discussed further below. During the year ended December 31, 2016, the Partnership recorded the following impairments: • a $638 million goodwill impairment and a $133 million impairment to property, plant and equipment were recorded in t"
1276187_10K_2018_0001276187-19-000011.json,item_7,(?i)significant\s+customer,significant customer,"and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of natural gas, our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determined the fair value of its reporting units using a weighted combination of the discounted cash flow method and the guideline company m"
1276187_10K_2018_0001276187-19-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"the adoption of ASU 2014-09, the amount of revenue that the Partnership recognizes on certain contracts has changed, primarily due to decreases in revenue (with offsetting decreases to cost of sales) resulting from recognition of non-cash consideration as revenue when received and as cost of sales when sold to third parties. In addition, income statement reclassifications were required for fuel usage and loss allowances related to multiple segments as well as contracts deemed to be in-substance supply agreements in our midstream segment. In addition to the evaluation performed, we have made appropriate design and implementation updates to our business processes, systems and internal controls to support recognition and disclosure under the new standard. Utilizing the practical expedients allowed under the modified retrospective adoption method, Accounting Standards Codification (“ASC”) Topic 606 was only applied to existing contracts for which the Partnership has remaining performance obligations as of"
1276187_10K_2019_0001276187-20-000011.json,item_7,(?i)major\s+customer,major customer,"irment of the Partnership’s equity method investment in FEP. The Partnership concluded that the carrying value of its investment in FEP was other than temporarily impaired based on an anticipated decrease in production in the Fayetteville basin and a customer re-contracting with a competitor during 2017. • a $172 million impairment of the Partnership’s equity method investment in HPC primarily due to a decrease in projected future revenues and cash flows driven be the bankruptcy of one of HPC’s major customers in 2017 and an expectation that contracts expiring in the next few years will be renewed at lower tariff rates and lower volumes. • For 2017, Sunoco LP also recognized impairments of $404 million, of which $119 million was allocated to continuing operations, as discussed further below. Except for the 2017 impairment of the goodwill associated with CDM, as discussed above, the goodwill impairments recorded by the Partnership during the years ended December 31, 2019, 2018 and 2017 represented al"
1276187_10K_2019_0001276187-20-000011.json,item_7,(?i)significant\s+customer,significant customer,"and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of natural gas, our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determined the fair value of its reporting units using a weighted combination of the discounted cash flow method and the guideline company m"
1276187_10K_2020_0001276187-21-000034.json,item_7,(?i)significant\s+customer,significant customer,"and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of natural gas, our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determines the fair value of its reporting units using a discounted cash flow method, the guideline company method, or a weighted combinatio"
1276187_10K_2020_0001276187-21-000034.json,item_7,(?i)supply\s+agreement,supply agreement,"he Investment in Sunoco LP segment reflects the consolidated results of Sunoco LP. Segment Adjusted EBITDA. For the year ended December 31, 2020 compared to the prior year, Segment Adjusted EBITDA related to the Investment in Sunoco LP segment increased due to the net impacts of the following: •an increase in the gross profit on motor fuel sales of $32 million, primarily due to a 18% increase in gross profit per gallon sold and the receipt of a $13 million make-up payment under Sunoco LP’s fuel supply agreement with 7-Eleven, Inc., partially offset by a 13% decrease in gallons sold; and •a decrease in operating expenses and selling, general and administrative expenses, excluding non-cash compensation expense of $54 million, primarily attributable to lower employee costs, maintenance, advertising, credit card fees and utilities, which was partially offset by a $12 million charge for current expected credit losses on Sunoco LP’s accounts receivable in connection with the financial impact from COVID-19;"
1276187_10K_2021_0001276187-22-000020.json,item_7,(?i)significant\s+customer,significant customer,"f the asset, and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of commodities, our ability to negotiate favorable sales agreements, the risks that exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determines the fair value of its assets and/or reporting units using a discounted cash flow method, the guideline company method, the reproduction and repl"
1276187_10K_2021_0001276187-22-000020.json,item_7,(?i)supply\s+agreement,supply agreement,"he Investment in Sunoco LP segment reflects the consolidated results of Sunoco LP. Segment Adjusted EBITDA. For the year ended December 31, 2020 compared to the prior year, Segment Adjusted EBITDA related to the Investment in Sunoco LP segment increased due to the net impacts of the following: •an increase in the gross profit on motor fuel sales of $32 million, primarily due to a 18% increase in gross profit per gallon sold and the receipt of a $13 million make-up payment under Sunoco LP’s fuel supply agreement with 7-Eleven, Inc., partially offset by a 13% decrease in gallons sold; and •a decrease of $54 million in operating expenses and selling, general and administrative expenses, excluding non-cash compensation expense, primarily attributable to lower employee costs, maintenance, advertising, credit card fees and utilities, which was partially offset by a $12 million charge for current expected credit losses on Sunoco LP’s accounts receivable in connection with the financial impact from COVID-19;"
1276187_10K_2022_0001276187-23-000014.json,item_7,(?i)significant\s+customer,significant customer,"f the asset, and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of commodities, our ability to negotiate favorable sales agreements, the risks that exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determines the fair value of its assets and/or reporting units using a discounted cash flow method, the guideline company method, the reproduction and repl"
1276187_10K_2023_0001276187-24-000024.json,item_7,(?i)significant\s+customer,significant customer,"f the asset, and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of commodities, our ability to negotiate favorable sales agreements, the risks that exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determines the fair value of its assets and/or reporting units using the discounted cash flow method, the guideline company method, the reproduction and re"
1276187_10K_2023_0001276187-24-000024.json,item_7,(?i)supply\s+agreement,supply agreement,"renewable fuels, ammonia and specialty liquids. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. On January 11, 2024, Sunoco LP entered into a definitive agreement with 7-Eleven, Inc. to sell 204 convenience stores located in West Texas, New Mexico and Oklahoma for approximately $1.00 billion, including customary adjustments for fuel and merchandise inventory. As part of the sale, Sunoco LP will also amend its existing take-or-pay fuel supply agreement with 7-Eleven, Inc. to incorporate additional fuel gross profit. The transaction is expected to close promptly upon receipt of regulatory approvals and satisfaction of customary closing conditions. On January 11, 2024, Sunoco LP also announced that it will acquire liquid fuels terminals in Amsterdam, Netherlands and Bantry Bay, Ireland from Zenith Energy for €170 million including working capital. The transaction is expected to close in the first quarter of 2024, subject to customary closing co"
1276187_10K_2024_0001276187-25-000018.json,item_7,(?i)significant\s+customer,significant customer,"f the asset, and future expenditures necessary to maintain the asset’s existing service potential. In order to determine fair value, we make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of commodities, our ability to negotiate favorable sales agreements, the risks that exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers, and competition from other companies, including major energy producers. While we believe we have made reasonable assumptions to calculate the fair value, if future results are not consistent with our estimates, we could be exposed to future impairment losses that could be material to our results of operations. The Partnership determines the fair value of its assets and/or reporting units using the discounted cash flow method, the guideline company method, the reproduction and re"
1276187_10K_2024_0001276187-25-000018.json,item_7,(?i)supply\s+agreement,supply agreement,"stable midstream income. Other Acquisition On August 30, 2024, Sunoco LP acquired a terminal in Portland, Maine for approximately $24 million, including working capital. West Texas Sale On April 16, 2024, Sunoco LP completed the sale of 204 convenience stores located in West Texas, New Mexico and Oklahoma to 7-Eleven, Inc. for approximately $1.00 billion, including customary adjustments for fuel and merchandise inventory. As part of the sale, Sunoco LP also amended its existing take-or-pay fuel supply agreement with 7-Eleven, Inc. to incorporate additional fuel gross profit. Joint Venture Transaction ET-S Permian Effective July 1, 2024, Energy Transfer and Sunoco LP formed ET-S Permian, a joint venture combining their respective crude oil and produced water gathering assets in the Permian Basin. Energy Transfer contributed its Permian crude oil and produced water gathering assets and operations to ET-S Permian. Sunoco LP contributed all of its Permian crude oil gathering assets and operations to ET-S"
1389170_10K_2020_0001564590-21-006640.json,item_1,(?i)major\s+customer,major customer,"o has components of fee-based margin, such as fee floors and other fee-based services which mitigate against low commodity prices. We are currently experiencing no material issues with potential workforce disruptions, and we remain focused on safeguarding employee health and safety and ensuring safe and reliable operations in response to COVID-19. Additionally, we are currently experiencing no material supply chain disruptions as a result of the COVID-19 pandemic, and our relationships with our major customers continue to be strong. However, if any of these circumstances change, our business could be adversely affected. Additionally, although significant progress has been made towards the development, distribution and administration of various COVID-19 vaccines, their potential safety and efficacy and timing around when they will become widely available is uncertain at this point. Further, as there is significant uncertainty around the breadth and duration of the disruptions to global energy markets"
1433270_10K_2014_0001558370-15-000166.json,item_1,(?i)major\s+customer,Major Customer,"ivities in the Marcellus Shale, as well as 22 centralized water storage facilities equipped with transfer pumps. As of December 31, 2014 in Ohio, we owned and operated 49 miles of buried fresh water pipelines that service our drilling activities in the Utica Shale, as well as 8 centralized water storage facilities equipped with transfer pumps. In connection with the Antero Midstream IPO, we granted Antero Midstream an option to purchase our fresh water distribution systems at fair market value. Major Customers For the year ended December 31, 2014, sales to South Jersey Resources Group LLC, Sequent Energy Management L.P., and Nextera Energy Powermarketing LLC represented 29%, 16%, and 12% of our total sales, respectively. For the year ended December 31, 2013, sales to South Jersey Resources Group LLC, Sequent Energy Management L.P., and Nextera Energy Powermarketing LLC represented 30%, 14%, and 8% of our total sales, respectively. For the year ended December 31, 2012, sales to South Jersey Resources"
1433270_10K_2014_0001558370-15-000166.json,item_1,(?i)major\s+customer,major customer,"y. For the year ended December 31, 2013, sales to South Jersey Resources Group LLC, Sequent Energy Management L.P., and Nextera Energy Powermarketing LLC represented 30%, 14%, and 8% of our total sales, respectively. For the year ended December 31, 2012, sales to South Jersey Resources Group, LLC, Nextera Energy Powermarketing LLC and Dominion Field Services Inc. represented 23%, 13% and 10% of our total sales, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record title is made at the time of lease acquisition. In"
1433270_10K_2014_0001558370-15-000166.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"ent L.P., and Nextera Energy Powermarketing LLC represented 29%, 16%, and 12% of our total sales, respectively. For the year ended December 31, 2013, sales to South Jersey Resources Group LLC, Sequent Energy Management L.P., and Nextera Energy Powermarketing LLC represented 30%, 14%, and 8% of our total sales, respectively. For the year ended December 31, 2012, sales to South Jersey Resources Group, LLC, Nextera Energy Powermarketing LLC and Dominion Field Services Inc. represented 23%, 13% and 10% of our total sales, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undev"
1433270_10K_2015_0001558370-16-003450.json,item_1,(?i)major\s+customer,Major Customer,"of our water handling systems. The wastewater treatment complex, once completed, will include a 60,000 barrel per day facility that will allow Antero Midstream to treat our flowback and produced water for subsequent use or sale for well completions. The treatment facility is expected to be in service near the end of 2017. Late in 2015, Antero Midstream began providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2015, three of our customers accounted for approximately 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. For the year ended December 31, 2013, two of our customers accounted for 30% and 14% or our total product revenues, respectively. Although a substantial portion of our production is purchased by these major c"
1433270_10K_2015_0001558370-16-003450.json,item_1,(?i)major\s+customer,major customer,"ustomers For the year ended December 31, 2015, three of our customers accounted for approximately 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. For the year ended December 31, 2013, two of our customers accounted for 30% and 14% or our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record title is made at the time of lease acquisition. In"
1433270_10K_2015_0001558370-16-003450.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 19%,"ted, will include a 60,000 barrel per day facility that will allow Antero Midstream to treat our flowback and produced water for subsequent use or sale for well completions. The treatment facility is expected to be in service near the end of 2017. Late in 2015, Antero Midstream began providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2015, three of our customers accounted for approximately 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. For the year ended December 31, 2013, two of our customers accounted for 30% and 14% or our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adv"
1433270_10K_2015_0001558370-16-003450.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 29%,"for well completions. The treatment facility is expected to be in service near the end of 2017. Late in 2015, Antero Midstream began providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2015, three of our customers accounted for approximately 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. For the year ended December 31, 2013, two of our customers accounted for 30% and 14% or our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we ha"
1433270_10K_2015_0001558370-16-003450.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 30%,"viding us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2015, three of our customers accounted for approximately 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. For the year ended December 31, 2013, two of our customers accounted for 30% and 14% or our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in th"
1433270_10K_2016_0001558370-17-001159.json,item_1,(?i)major\s+customer,Major Customer,"ms in September 2015. The waste water treatment complex, once completed, will include a 60,000 barrel per day facility that will allow Antero Midstream to treat our flowback and produced water for subsequent use or sale for well completions. The treatment facility is expected to be in service in the fourth quarter of 2017. Late in 2015, Antero Midstream began providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2016, two of our customers accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, three of our customers accounted for 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. Although a substantial portion of our production is purchased by these major c"
1433270_10K_2016_0001558370-17-001159.json,item_1,(?i)major\s+customer,major customer,"ustomers For the year ended December 31, 2016, two of our customers accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, three of our customers accounted for 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record title is made at the time of lease acquisition. In"
1433270_10K_2016_0001558370-17-001159.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 29%,"ll include a 60,000 barrel per day facility that will allow Antero Midstream to treat our flowback and produced water for subsequent use or sale for well completions. The treatment facility is expected to be in service in the fourth quarter of 2017. Late in 2015, Antero Midstream began providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2016, two of our customers accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, three of our customers accounted for 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material a"
1433270_10K_2016_0001558370-17-001159.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 19%,"or well completions. The treatment facility is expected to be in service in the fourth quarter of 2017. Late in 2015, Antero Midstream began providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2016, two of our customers accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, three of our customers accounted for 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe th"
1433270_10K_2016_0001558370-17-001159.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 29%,"an providing us with waste water services for our well completion operations, including waste water transportation, disposal, and treatment. Major Customers For the year ended December 31, 2016, two of our customers accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, three of our customers accounted for 19%, 18%, and 13% of our total product revenues, respectively. For the year ended December 31, 2014, three of our customers accounted for 29%, 16%, and 12% of our total product revenues, respectively. Although a substantial portion of our production is purchased by these major customers, we do not believe the loss of any one or several customers would have a material adverse effect on our business, as we believe other customers or markets would be accessible to us. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary"
1433270_10K_2017_0001558370-18-000647.json,item_1,(?i)major\s+customer,Major Customer,"t complex will include a 60,000 barrel per day facility that will allow Antero Midstream to treat our flowback and produced water for subsequent use or sale for well completions. The treatment facility is in its final stages of commissioning and is expected to commence full commercial operations in the first quarter of 2018. Late in 2015, Antero Midstream began providing us with wastewater services for our well completion operations, including wastewater transportation, disposal, and treatment. Major Customers For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Venture and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, sales to Tenaska Marketing Ventures, South Jersey Resources, and Sequent Energy Management accounted for 19"
1433270_10K_2017_0001558370-18-000647.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 22%,"ck and produced water for subsequent use or sale for well completions. The treatment facility is in its final stages of commissioning and is expected to commence full commercial operations in the first quarter of 2018. Late in 2015, Antero Midstream began providing us with wastewater services for our well completion operations, including wastewater transportation, disposal, and treatment. Major Customers For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Venture and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, sales to Tenaska Marketing Ventures, South Jersey Resources, and Sequent Energy Management accounted for 19%, 18%, and 13% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title t"
1433270_10K_2017_0001558370-18-000647.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 29%,"l operations in the first quarter of 2018. Late in 2015, Antero Midstream began providing us with wastewater services for our well completion operations, including wastewater transportation, disposal, and treatment. Major Customers For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Venture and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, sales to Tenaska Marketing Ventures, South Jersey Resources, and Sequent Energy Management accounted for 19%, 18%, and 13% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursor"
1433270_10K_2017_0001558370-18-000647.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 19%,". Major Customers For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Venture and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. For the year ended December 31, 2015, sales to Tenaska Marketing Ventures, South Jersey Resources, and Sequent Energy Management accounted for 19%, 18%, and 13% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record title is made at the time of lease acquisition. Investigations are made before the consummation of an acquisition of producing properties and before commencement of drilling"
1433270_10K_2018_0001558370-19-000629.json,item_1,(?i)major\s+customer,Major Customer,"o date, the facility has run at reduced operating rates below the designed capacity and therefore not met certain completion milestones under the terms of the agreement between Antero Midstream and the construction contractor. Antero Midstream has made improvements to the facility’s design and anticipates an increase in wastewater treatment volumes during 2019 as compared to 2018 and has included the final milestone completion payments under the construction contract in its 2019 capital budget. Major Customers For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 16% and 14% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 29% and"
1433270_10K_2018_0001558370-19-000629.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"milestones under the terms of the agreement between Antero Midstream and the construction contractor. Antero Midstream has made improvements to the facility’s design and anticipates an increase in wastewater treatment volumes during 2019 as compared to 2018 and has included the final milestone completion payments under the construction contract in its 2019 capital budget. Major Customers For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 16% and 14% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing prope"
1433270_10K_2018_0001558370-19-000629.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 22%,"pates an increase in wastewater treatment volumes during 2019 as compared to 2018 and has included the final milestone completion payments under the construction contract in its 2019 capital budget. Major Customers For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 16% and 14% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record tit"
1433270_10K_2018_0001558370-19-000629.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 29%,"2019 capital budget. Major Customers For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 16% and 14% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 22% and 15% of our total product revenues, respectively. For the year ended December 31, 2016, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 29% and 13% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record title is made at the time of lease acquisition. Investigations are made before the consummation of an acquisition of producing properties and before commencement of drilling operat"
1433270_10K_2019_0001558370-20-000726.json,item_1,(?i)major\s+customer,Major Customer,"4 miles of buried fresh water pipelines and 31 miles of movable surface fresh water pipelines in the Utica Shale, as well as 12 fresh water storage facilities equipped with transfer pumps. We recently announced certain efficiency improvements and water initiatives, which are expected to reduce the amount of fresh water needed to complete our operations. Through Antero Midstream, we have also commenced operations to recycle and reuse a portion of our flowback and produced water through blending. Major Customers For the year ended December 31, 2019, sales to Sabine Pass Liquefaction, LLC and WGL Midstream accounted for approximately 16% and 15% of our total product revenues, respectively. For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 14% and 13% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 20% a"
1433270_10K_2019_0001558370-20-000726.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"e, as well as 12 fresh water storage facilities equipped with transfer pumps. We recently announced certain efficiency improvements and water initiatives, which are expected to reduce the amount of fresh water needed to complete our operations. Through Antero Midstream, we have also commenced operations to recycle and reuse a portion of our flowback and produced water through blending. Major Customers For the year ended December 31, 2019, sales to Sabine Pass Liquefaction, LLC and WGL Midstream accounted for approximately 16% and 15% of our total product revenues, respectively. For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 14% and 13% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 20% and 14% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our"
1433270_10K_2019_0001558370-20-000726.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"t of fresh water needed to complete our operations. Through Antero Midstream, we have also commenced operations to recycle and reuse a portion of our flowback and produced water through blending. Major Customers For the year ended December 31, 2019, sales to Sabine Pass Liquefaction, LLC and WGL Midstream accounted for approximately 16% and 15% of our total product revenues, respectively. For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 14% and 13% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 20% and 14% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record tit"
1433270_10K_2019_0001558370-20-000726.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 20%,"through blending. Major Customers For the year ended December 31, 2019, sales to Sabine Pass Liquefaction, LLC and WGL Midstream accounted for approximately 16% and 15% of our total product revenues, respectively. For the year ended December 31, 2018, sales to Mercuria Energy America, Inc. and Tenaska Marketing Ventures accounted for approximately 14% and 13% of our total product revenues, respectively. For the year ended December 31, 2017, sales to Tenaska Marketing Ventures and WGL Midstream accounted for approximately 20% and 14% of our total product revenues, respectively. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties, cursory investigation of record title is made at the time of lease acquisition. Investigations are made before the consummation of an acquisition of producing properties and before commencement of drilling operat"
1433270_10K_2020_0001558370-21-001153.json,item_1,(?i)major\s+customer,Major Customer,"ducers within and adjacent to our operating area, subject to commercial arrangements, while reducing water truck traffic. As of December 31, 2020, Antero Midstream owned and operated 203 miles of buried fresh water pipelines and 134 miles of portable surface fresh water pipelines in the Appalachian Basin, as well as 37 fresh water storage facilities equipped with transfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2018, 2019 and 2020 were as follows: Year Ended December 31, 2018 Mercuria Energy America, Inc. % Tenaska Marketing Ventures % Year Ended December 31, 2019 Sabine Pass Liquefaction LLC % WGL Midstream % Year Ended December 31, 2020 Sabine Pass Liquefaction LLC % WGL Midstream % Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance"
1433270_10K_2020_0001558370-21-001153.json,item_1,(?i)major\s+customer,major customer,"our operating area, subject to commercial arrangements, while reducing water truck traffic. As of December 31, 2020, Antero Midstream owned and operated 203 miles of buried fresh water pipelines and 134 miles of portable surface fresh water pipelines in the Appalachian Basin, as well as 37 fresh water storage facilities equipped with transfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2018, 2019 and 2020 were as follows: Year Ended December 31, 2018 Mercuria Energy America, Inc. % Tenaska Marketing Ventures % Year Ended December 31, 2019 Sabine Pass Liquefaction LLC % WGL Midstream % Year Ended December 31, 2020 Sabine Pass Liquefaction LLC % WGL Midstream % Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted indus"
1433270_10K_2020_0001558370-21-001153.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of total sales,"l arrangements, while reducing water truck traffic. As of December 31, 2020, Antero Midstream owned and operated 203 miles of buried fresh water pipelines and 134 miles of portable surface fresh water pipelines in the Appalachian Basin, as well as 37 fresh water storage facilities equipped with transfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2018, 2019 and 2020 were as follows: Year Ended December 31, 2018 Mercuria Energy America, Inc. % Tenaska Marketing Ventures % Year Ended December 31, 2019 Sabine Pass Liquefaction LLC % WGL Midstream % Year Ended December 31, 2020 Sabine Pass Liquefaction LLC % WGL Midstream % Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industr"
1433270_10K_2021_0001558370-22-001283.json,item_1,(?i)major\s+customer,Major Customer,", Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments located throughout our leasehold acreage. As of December 31, 2021, Antero Midstream owned and operated 216 miles of buried water pipelines and 133 miles of portable surface water pipelines in the Appalachian Basin, as well as 36 water storage facilities equipped with transfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2019, 2020 and 2021 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % % * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the years ended December 31, 2019 and 2020. * Sabine Pass Liquefaction LLC was not a major customer during the year ended Dec"
1433270_10K_2021_0001558370-22-001283.json,item_1,(?i)major\s+customer,major customer,"ility to store 5.5 million barrels of fresh water in 36 impoundments located throughout our leasehold acreage. As of December 31, 2021, Antero Midstream owned and operated 216 miles of buried water pipelines and 133 miles of portable surface water pipelines in the Appalachian Basin, as well as 36 water storage facilities equipped with transfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2019, 2020 and 2021 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % % * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the years ended December 31, 2019 and 2020. * Sabine Pass Liquefaction LLC was not a major customer during the year ended December 31, 2021. Title to Prop"
1433270_10K_2021_0001558370-22-001283.json,item_1,(?i)major\s+customer,major customer,"ransfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2019, 2020 and 2021 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % % * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the years ended December 31, 2019 and 2020. * Sabine Pass Liquefaction LLC was not a major customer during the year ended December 31, 2021. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitio"
1433270_10K_2021_0001558370-22-001283.json,item_1,(?i)major\s+customer,major customer,"d water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2019, 2020 and 2021 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % % * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the years ended December 31, 2019 and 2020. * Sabine Pass Liquefaction LLC was not a major customer during the year ended December 31, 2021. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitions. Further investigations may be made before commencement of drilling operations on undeveloped properties"
1433270_10K_2021_0001558370-22-001283.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of total sales,"sh water in 36 impoundments located throughout our leasehold acreage. As of December 31, 2021, Antero Midstream owned and operated 216 miles of buried water pipelines and 133 miles of portable surface water pipelines in the Appalachian Basin, as well as 36 water storage facilities equipped with transfer pumps. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2019, 2020 and 2021 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % % * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the years ended December 31, 2019 and 2020. * Sabine Pass Liquefaction LLC was not a major customer during the year ended December 31, 2021. Title to Properties We believe that we have satisfactory t"
1433270_10K_2021_0001558370-22-001283.json,item_7,(?i)supply\s+agreement,supply agreement,"r price index for all urban consumers increased 7% from December 31, 2020 to December 31, 2021 as compared to the average historical 10-year rate of 2%. Additionally, employment activity has also begun to strengthen as demonstrated by the United States BLS unemployment rate declining from a high of 15% in April 2020 to 4% in December 2021. Inflationary pressures and labor shortages could result in increases to our operating and capital costs that are not fixed, renegotiation of contracts and/or supply agreements and higher labor costs, among others. These economic variables are beyond our control and may adversely impact our business, financial condition, results of operations and future cash flows. Recent Developments and Highlights Credit Facility On October 26, 2021, we entered into an amended and restated senior secured revolving credit facility, the New Credit Facility with a borrowing base of $3.5 billion and lender commitments of $1.5 billion and matures on the earlier of (i) October 26, 2026 o"
1433270_10K_2022_0001558370-23-001378.json,item_1,(?i)major\s+customer,Major Customer,"e. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. As of December 31, 2022, Antero Midstream owned and operated 226 miles of buried water pipelines and 137 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2022, Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2020, 2021 and 2022 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % * * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the year ended December 31, 2020. * Sabine Pass Liquefaction LLC was not a major customer during the years ended December 31,"
1433270_10K_2022_0001558370-23-001378.json,item_1,(?i)major\s+customer,major customer,"we also recycle and reuse the majority of our flowback and produced water through blending. As of December 31, 2022, Antero Midstream owned and operated 226 miles of buried water pipelines and 137 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2022, Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2020, 2021 and 2022 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % * * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the year ended December 31, 2020. * Sabine Pass Liquefaction LLC was not a major customer during the years ended December 31, 2021 and 2022. Title to Prop"
1433270_10K_2022_0001558370-23-001378.json,item_1,(?i)major\s+customer,major customer,"o store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2020, 2021 and 2022 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % * * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the year ended December 31, 2020. * Sabine Pass Liquefaction LLC was not a major customer during the years ended December 31, 2021 and 2022. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitio"
1433270_10K_2022_0001558370-23-001378.json,item_1,(?i)major\s+customer,major customer,"d throughout our leasehold acreage. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2020, 2021 and 2022 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % * * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the year ended December 31, 2020. * Sabine Pass Liquefaction LLC was not a major customer during the years ended December 31, 2021 and 2022. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitions. Further investigations may be made before commencement of drilling operations on undeveloped"
1433270_10K_2022_0001558370-23-001378.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of total sales,"our flowback and produced water through blending. As of December 31, 2022, Antero Midstream owned and operated 226 miles of buried water pipelines and 137 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2022, Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to major customers (purchasers in excess of 10% of total sales) for the years ended December 31, 2020, 2021 and 2022 were as follows: Year Ended December 31, Six One Commodities LLC (1) % % % Sabine Pass Liquefaction LLC % * * (1) Six One Commodities LLC acquired WGL Midstream during the year ended December 31, 2021. WGL Midstream was our major customer during the year ended December 31, 2020. * Sabine Pass Liquefaction LLC was not a major customer during the years ended December 31, 2021 and 2022. Title to Properties We believe that we have satisfactory t"
1433270_10K_2022_0001558370-23-001378.json,item_7,(?i)supply\s+agreement,supply agreement,"imbalances. Inflationary pressures, particularly as they relate to certain of our long-term contracts with CPI-based adjustments, and supply chain disruptions have and could continue to result in increases to our operating and capital costs that are not fixed. For example, our 2023 capital budget reflects an approximate 10% increase in service cost inflation as compared to the year ended December 31, 2022. Additionally, these economic variables could lead to a renegotiation of contracts and/or supply agreements, among others. These economic variables are beyond our control and may adversely impact our business, financial condition, results of operations and future cash flows. COVID-19 Pandemic We continue to operate throughout the COVID-19 pandemic, in some cases subject to federal, state and local regulations, and we have taken and continue to take steps to protect the health and safety of our workers. We have implemented protocols to reduce the risk of an outbreak within our field operations and of"
1433270_10K_2023_0001558370-24-001162.json,item_1,(?i)major\s+customer,Major Customer,"e. Through Antero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. As of December 31, 2023, Antero Midstream owned and operated 232 miles of buried water pipelines and 146 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2023, Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to Six One Commodities LLC accounted for 10% and 12% of our total sales for the years ended December 31, 2021 and 2022, respectively. No customer accounted for more than 10% of our sales for the year ended December 31, 2023. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing"
1433270_10K_2023_0001558370-24-001162.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our sales,"uried water pipelines and 146 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2023, Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to Six One Commodities LLC accounted for 10% and 12% of our total sales for the years ended December 31, 2021 and 2022, respectively. No customer accounted for more than 10% of our sales for the year ended December 31, 2023. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitions. Further investigations may be made before commencement of drilling operations on undeveloped properties. I"
1433270_10K_2023_0001558370-24-001162.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"e the majority of our flowback and produced water through blending. As of December 31, 2023, Antero Midstream owned and operated 232 miles of buried water pipelines and 146 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2023, Antero Midstream had the ability to store 5.5 million barrels of fresh water in 36 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers Our sales to Six One Commodities LLC accounted for 10% and 12% of our total sales for the years ended December 31, 2021 and 2022, respectively. No customer accounted for more than 10% of our sales for the year ended December 31, 2023. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is mad"
1433270_10K_2024_0001558370-25-000864.json,item_1,(?i)major\s+customer,Major Customer,"ntero Midstream, we also recycle and reuse the majority of our flowback and produced water through blending. As of December 31, 2024, Antero Midstream owned and operated 233 miles of buried water pipelines and 163 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2024, Antero Midstream had the ability to store approximately 5 million barrels of fresh water in 34 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers No customer accounted for more than 10% of our sales for the years ended December 31, 2023 and 2024. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitions. Further investigations may be made before"
1433270_10K_2024_0001558370-25-000864.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our sales,"ity of our flowback and produced water through blending. As of December 31, 2024, Antero Midstream owned and operated 233 miles of buried water pipelines and 163 miles of portable surface water pipelines in the Appalachian Basin. Additionally, as of December 31, 2024, Antero Midstream had the ability to store approximately 5 million barrels of fresh water in 34 impoundments equipped with transfer pumps located throughout our leasehold acreage. Major Customers No customer accounted for more than 10% of our sales for the years ended December 31, 2023 and 2024. Title to Properties We believe that we have satisfactory title to all of our producing properties in accordance with generally accepted industry standards. As is customary in the industry, often in the case of undeveloped properties and acquisitions of producing properties, cursory investigation of record title is made at the time of such acquisitions. Further investigations may be made before commencement of drilling operations on undeveloped pro"
1486159_10K_2014_0001486159-15-000009.json,item_1,(?i)major\s+customer,major customer,"ch we divested of certain properties in and around our Sanish project area. Our properties in this project area, located in Mountrail County in North Dakota, were entirely operated by other operators. We had average daily production of 388 net Boe/d for the year ended December 31, 2014, all of which was produced from the Bakken and Three Forks formations. Please see Note 7 to our audited consolidated financial statements for a description of the Sanish Divestiture. Marketing, transportation and major customers The Williston Basin crude oil rail and pipeline transportation and refining infrastructure has grown substantially in recent years, largely in response to drilling activity in the Bakken and Three Forks formations. In December 2014, oil production in North Dakota was approximately 1,227,000 barrels per day compared to approximately 927,000 barrels per day in December 2013. According to the North Dakota Pipeline Authority website’s data dated January 14, 2015, there was approximately 773,000 ba"
1486159_10K_2014_0001486159-15-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"age our commodities marketing activities in-house, which enables us to market and sell our oil and natural gas to a broader array of potential purchasers. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the years ended December 31, 2014, 2013 and 2012, sales to Musket Corporation accounted for approximately 13%, 11% and 10% of our total sales, respectively. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2014, 2013 and 2012. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in our project areas. As of December 31, 2014, we sold a substantial majority of our oil and condensate through bulk sales from delivery points on crude oil"
1486159_10K_2014_0001486159-15-000009.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 13%,"e sale of our oil and natural gas, we manage our commodities marketing activities in-house, which enables us to market and sell our oil and natural gas to a broader array of potential purchasers. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the years ended December 31, 2014, 2013 and 2012, sales to Musket Corporation accounted for approximately 13%, 11% and 10% of our total sales, respectively. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2014, 2013 and 2012. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in our project areas. As of December 31, 2014, we sold a substantial majority of our oil and condensate through bulk sales fr"
1486159_10K_2014_0001486159-15-000009.json,item_7,(?i)major\s+customer,major customer,"ur results of operations or cash flows. Additionally, we sell a significant amount of our crude oil production through gathering systems connected to multiple pipeline and rail facilities. These gathering systems, which originate at the wellhead, reduce the need to transport barrels by truck from the wellhead. As of December 31, 2014, we were flowing approximately 75% of our gross operated oil production through these gathering systems. Please see “Item 1. Business-Marketing, transportation and major customers.” Our quarterly average net realized oil prices and average price differentials are shown in the tables below. Year ended December 31, 2014 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 89.66 $ 94.48 $ 87.17 $ 62.79 $ 82.73 Average Price Differential(2) % % % % % Year ended December 31, 2013 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 93.33 $ 91.15 $ 100.75 $ 85.87 $ 92.34 Average Price Differential(2) % % % % % Year ended December 31, 2012 Q1 Q2 Q3 Q4 Average Realized Oil Pric"
1486159_10K_2015_0001486159-16-000090.json,item_1,(?i)major\s+customer,major customer,"or all producing wells averaged 56% and in the wells we operate was approximately 79%. As of December 31, 2015, we had 117 gross (63.8 net) wells in the process of being drilled or completed in the Williston Basin, which includes 2 gross operated wells drilling, 85 gross operated wells waiting on completion and 30 gross non-operated wells drilling or completing. We participated in 121 gross (64.3 net) wells that were completed and brought on production during 2015. Marketing, transportation and major customers The Williston Basin crude oil rail and pipeline transportation and refining infrastructure has grown substantially in recent years, largely in response to drilling activity in the Bakken and Three Forks formations. In December 2015, oil production in North Dakota was approximately 1,152,000 barrels per day. According to the North Dakota Pipeline Authority website’s data last updated January 15, 2016, there was approximately 827,000 barrels per day of crude oil pipeline transportation capacity"
1486159_10K_2015_0001486159-16-000090.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"ed to, transportation costs and adjustments for product quality. We also entered into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the years ended December 31, 2014 and 2013, sales to Musket Corporation accounted for approximately 13% and 11% of our total sales, respectively. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2015, 2014 and 2013. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basi"
1486159_10K_2015_0001486159-16-000090.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"t include, but are not limited to, transportation costs and adjustments for product quality. We also entered into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the years ended December 31, 2014 and 2013, sales to Musket Corporation accounted for approximately 13% and 11% of our total sales, respectively. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2015, 2014 and 2013. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in"
1486159_10K_2015_0001486159-16-000090.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 13%,"term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the years ended December 31, 2014 and 2013, sales to Musket Corporation accounted for approximately 13% and 11% of our total sales, respectively. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2015, 2014 and 2013. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most of our oil and natural gas production is sold under market-based or spot market contracts, the"
1486159_10K_2015_0001486159-16-000090.json,item_7,(?i)major\s+customer,major customer,"fect on our results of operations or cash flows. Additionally, we sell a significant amount of our crude oil production through gathering systems connected to multiple pipeline and rail facilities. These gathering systems, which originate at the wellhead, reduce the need to transport barrels by truck from the wellhead. As of December 31, 2015, we were flowing over 80% of our gross operated oil production through these gathering systems. Please see “Item 1. Business-Marketing, transportation and major customers.” Our quarterly average net realized oil prices and average price differentials are shown in the tables below. Year ended December 31, 2015 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 40.73 $ 52.04 $ 41.61 $ 37.77 $ 43.04 Average Price Differential(2) % % % % % Year ended December 31, 2014 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 89.66 $ 94.48 $ 87.17 $ 62.79 $ 82.73 Average Price Differential(2) % % % % % Year ended December 31, 2013 Q1 Q2 Q3 Q4 Average Realized Oil Price"
1486159_10K_2016_0001486159-17-000009.json,item_1,(?i)major\s+customer,major customer,"terest for all producing wells averaged 54% and in the wells we operate averaged 76%. As of December 31, 2016, we had 141 gross (65.2 net) wells in the process of being drilled or completed in the Williston Basin, which includes two gross operated wells drilling, 83 gross operated wells waiting on completion and 56 gross non-operated wells drilling or completing. We participated in 64 gross (38.1 net) wells that were completed and brought on production during 2016. Marketing, transportation and major customers The Williston Basin crude oil rail and pipeline transportation and refining infrastructure has grown substantially over the past decade, largely in response to drilling activity in the Bakken and Three Forks formations. In December 2016, oil production in North Dakota was approximately 942,000 barrels per day. According to the North Dakota Pipeline Authority website’s data last updated January 13, 2017, there was approximately 851,000 barrels per day of crude oil pipeline transportation capaci"
1486159_10K_2016_0001486159-17-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"mited to, transportation costs and adjustments for product quality. We also entered into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the year ended December 31, 2014, sales to Musket Corporation accounted for approximately 13% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2016, 2015 and 2014. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, a"
1486159_10K_2016_0001486159-17-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"r a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the year ended December 31, 2014, sales to Musket Corporation accounted for approximately 13% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2016, 2015 and 2014. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most of our oil and nat"
1486159_10K_2016_0001486159-17-000009.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"that include, but are not limited to, transportation costs and adjustments for product quality. We also entered into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the year ended December 31, 2014, sales to Musket Corporation accounted for approximately 13% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2016, 2015 and 2014. We believe that the loss of any of these purchasers would not have a material adverse effect o"
1486159_10K_2016_0001486159-17-000009.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"hort-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the year ended December 31, 2014, sales to Musket Corporation accounted for approximately 13% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2016, 2015 and 2014. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most"
1486159_10K_2016_0001486159-17-000009.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 13%,"ets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. For the year ended December 31, 2014, sales to Musket Corporation accounted for approximately 13% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2016, 2015 and 2014. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most of our oil and natural gas production is sold under market-based or spot market contracts, the revenues generated by"
1486159_10K_2016_0001486159-17-000009.json,item_7,(?i)major\s+customer,major customer,"rse effect on our results of operations or cash flows. Additionally, we sell a significant amount of our crude oil production through gathering systems connected to multiple pipeline and rail facilities. These gathering systems, which originate at the wellhead, reduce the need to transport barrels by truck from the wellhead. Currently, we are flowing approximately 90% of our gross operated oil production through these gathering systems. Please see “Item 1. Business-Marketing, transportation and major customers.” Our quarterly average net realized oil prices and average price differentials are shown in the tables below. Year ended December 31, 2016 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 28.74 $ 40.81 $ 40.54 $ 44.57 $ 38.64 Average Price Differential(2) % % % % % Year ended December 31, 2015 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 40.73 $ 52.04 $ 41.61 $ 37.77 $ 43.04 Average Price Differential(2) % % % % % Year ended December 31, 2014 Q1 Q2 Q3 Q4 Average Realized Oil Price"
1486159_10K_2017_0001486159-18-000010.json,item_1,(?i)major\s+customer,major customer,"rought on production during 2017. On December 11, 2017, we entered into a Purchase and Sale Agreement with Forge Energy to acquire approximately 22,000 net acres in the Delaware Basin. The Permian Basin Acquisition represents our initial entry into the Delaware Basin. The assets underlying the Permian Basin Acquisition are primarily located in the Bone Spring and Wolfcamp formations of the Delaware sub-basin, across Ward, Winkler, Loving and Reeves Counties, Texas. Marketing, transportation and major customers The Williston Basin crude oil rail and pipeline transportation and refining infrastructure has grown substantially over the past decade, largely in response to drilling activity in the Bakken and Three Forks formations. In December 2017, oil production in North Dakota was approximately 1,181,000 barrels per day. According to the North Dakota Pipeline Authority website’s data last updated January 19, 2018, there was approximately 1,371,000 barrels per day of crude oil pipeline transportation ca"
1486159_10K_2017_0001486159-18-000010.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"r a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017, 2016 and 2015. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most of our oil"
1486159_10K_2017_0001486159-18-000010.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017, 2016 and 2015. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most of our oil and natural gas production is sold under market-based or spot market contracts, the revenues generated by our operations are"
1486159_10K_2017_0001486159-18-000010.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"t include, but are not limited to, transportation costs and adjustments for product quality. We also entered into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017, 2016 and 2015. We believe that the loss of any of these purchasers would not have a material adverse eff"
1486159_10K_2017_0001486159-18-000010.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"hort-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017, 2016 and 2015. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Si"
1486159_10K_2017_0001486159-18-000010.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. For the year ended December 31, 2015, sales to Shell Trading (US) Company accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017, 2016 and 2015. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston Basin. Since most of our oil and natural gas production is sold under market-based or spot market contracts, the revenues generated by"
1486159_10K_2017_0001486159-18-000010.json,item_7,(?i)major\s+customer,major customer,"rse effect on our results of operations or cash flows. Additionally, we sell a significant amount of our crude oil production through gathering systems connected to multiple pipeline and rail facilities. These gathering systems, which originate at the wellhead, reduce the need to transport barrels by truck from the wellhead. Currently, we are flowing approximately 90% of our gross operated oil production through these gathering systems. Please see “Item 1. Business-Marketing, transportation and major customers.” Our quarterly average net realized oil prices and average price differentials are shown in the tables below. Year ended December 31, 2017 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 47.03 $ 44.61 $ 46.35 $ 54.97 $ 48.52 Average Price Differential ($/Bbl)(2) $ 4.88 $ 3.68 $ 1.82 $ 0.50 $ 2.60 Average Price Differential Percentage(2) % % % % % Year ended December 31, 2016 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 28.74 $ 40.81 $ 40.54 $ 44.57 $ 38.64 Average Price Different"
1486159_10K_2018_0001486159-19-000006.json,item_1,(?i)major\s+customer,major customer,"t year initial term ending on December 31, 2025, with an additional five year term for certain retained acreage at certain depths in the Delaware, Bone Springs and Wolfcamp formations. If OP Permian fails to meet certain drilling and development obligations, this agreement may be subject to early termination, in which case, the additional five year term would begin on such date and we may be obligated to pay non-performance fees of up to approximately $100 million. Marketing, transportation and major customers The Williston Basin crude oil rail and pipeline transportation and refining infrastructure has grown substantially over the past decade, largely in response to drilling activity in the Bakken and Three Forks formations. In December 2018, oil production in North Dakota was approximately 1,401,000 barrels per day. According to the North Dakota Pipeline Authority website’s data last updated January 15, 2019, there was approximately 1,421,000 barrels per day of combined crude oil pipeline transpor"
1486159_10K_2018_0001486159-19-000006.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"nnections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2018, no purchaser accounted for more than 10% of the Company’s total sales. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017 and 2016. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston and Delaware Basins. Since most of our oil and natural gas production is sold under market-based or spot market contracts, the revenues generated by our operati"
1486159_10K_2018_0001486159-19-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2018, no purchaser accounted for more than 10% of the Company’s total sales. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017 and 2016. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston and Delaware Basin"
1486159_10K_2018_0001486159-19-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"ther markets and pipeline connections, we do not believe that the loss of any single oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2018, no purchaser accounted for more than 10% of the Company’s total sales. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales. For the year ended December 31, 2016, sales to PBF Holding Company LLC accounted for approximately 10% of our total sales. No other purchasers accounted for more than 10% of our total oil and natural gas sales for the years ended December 31, 2017 and 2016. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston and Delaware Basins. Since most of our oil and natural gas production is sold under market-based or spot market contracts, the revenues gener"
1486159_10K_2018_0001486159-19-000006.json,item_7,(?i)major\s+customer,major customer,"r cash flows. Additionally, we sell a significant amount of our crude oil production through gathering systems connected to multiple pipeline and rail facilities. These gathering systems, which originate at the wellhead, reduce the need to transport barrels by truck from the wellhead. Currently, 86% of our gross operated oil production and substantially all of our gross operated natural gas production are connected to gathering systems. Please see “Item 1. Business-Marketing, transportation and major customers.” Our quarterly average net realized oil prices and average price differentials are shown in the tables below. Year ended December 31, 2018 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 61.75 $ 65.82 $ 68.33 $ 52.01 $ 61.84 Average Price Differential ($/Bbl)(2) $ 1.12 $ 2.07 $ 1.16 $ 6.79 $ 2.88 Average Price Differential Percentage(2) % % % % % Year ended December 31, 2017 Q1 Q2 Q3 Q4 Average Realized Oil Prices ($/Bbl)(1) $ 47.03 $ 44.58 $ 46.34 $ 54.95 $ 48.51 Average Price Different"
1486159_10K_2019_0001486159-20-000018.json,item_1,(?i)major\s+customer,major customer,"t year initial term ending on December 31, 2025, with an additional five year term for certain retained acreage at certain depths in the Delaware, Bone Springs and Wolfcamp formations. If OP Permian fails to meet certain drilling and development obligations, this agreement may be subject to early termination, in which case, the additional five year term would begin on such date and we may be obligated to pay non-performance fees of up to approximately $100 million. Marketing, transportation and major customers The Williston Basin crude oil rail and pipeline transportation and refining infrastructure has grown substantially over the past decade, largely in response to drilling activity in the Bakken and Three Forks formations. In December 2019, crude oil production in North Dakota was approximately 1,476,000 barrels per day. According to the North Dakota Pipeline Authority website’s data last updated February 14, 2020, there was approximately 1,381,000 barrels per day of combined crude oil pipeline t"
1486159_10K_2019_0001486159-20-000018.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,", 2019, sales to Phillips 66 Company accounted for approximately 14% of our total sales from the exploration and production segment. For the year ended December 31, 2018, no purchaser accounted for more than 10% of the Company’s total sales from the exploration and production segment. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales from the exploration and production segment. No other purchasers accounted for more than 10% of our total sales from the exploration and production segment for the years ended December 31, 2019 and 2017. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston and Delaware Basins. Since most of our crude oil, natural gas and NGL production is sold under market-based or spot market contracts, the revenues generated by our operations are highly dependent upon the"
1486159_10K_2019_0001486159-20-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"ring and transportation positions and increase the value of our crude oil price realizations. We also entered into various short-term sales contracts for a portion of our portfolio at fixed differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single crude oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our total sales from the exploration and production segment. For the year ended December 31, 2018, no purchaser accounted for more than 10% of the Company’s total sales from the exploration and production segment. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales from the exploration and production segment. No other purchasers accounted for more than 10% of our total sales from the exploration and production segment f"
1486159_10K_2019_0001486159-20-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"oil or natural gas customer would have a material adverse effect on our results of operations or cash flows. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our total sales from the exploration and production segment. For the year ended December 31, 2018, no purchaser accounted for more than 10% of the Company’s total sales from the exploration and production segment. For the year ended December 31, 2017, sales to Shell Trading (US) Company accounted for approximately 16% of our total sales from the exploration and production segment. No other purchasers accounted for more than 10% of our total sales from the exploration and production segment for the years ended December 31, 2019 and 2017. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil and natural gas purchasers in the Williston and Delaware Basins. Since most of our crude oil, natural gas and NGL pro"
1486159_10K_2019_0001486159-20-000018.json,item_7,(?i)major\s+customer,major customer,"flows. Additionally, we sell a significant amount of our crude oil production through gathering systems connected to multiple pipeline and rail facilities. These gathering systems, which originate at the wellhead, reduce the need to transport barrels by truck from the wellhead. Currently, 91% of our gross operated crude oil production and substantially all of our gross operated natural gas production are connected to gathering systems. Please see “Item 1. Business-Marketing, transportation and major customers.” Our quarterly average net realized crude oil prices and average price differentials are shown in the tables below. 2019 Year ended December 31, 2019 Q1 Q2 Q3 Q4 Average Realized Crude Oil Prices ($/Bbl)(1) $ 53.52 $ 58.87 $ 55.12 $ 53.66 $ 55.27 Average Price Differential ($/Bbl)(2) $ 1.30 $ 0.96 $ 1.30 $ 3.23 $ 1.68 Average Price Differential Percentage(2) 2 % 2 % 2 % 6 % 3 % 2018 Year ended December 31, 2018 Q1 Q2 Q3 Q4 Average Realized Crude Oil Prices ($/Bbl)(1) $ 61.75 $ 65.82 $ 68.33 $"
1486159_10K_2020_0001486159-21-000017.json,item_1,(?i)major\s+customer,major customer,"r the reduction of our drilling obligations for 2021 similar to that previously received. We can provide no assurance that we will be successful in obtaining this amendment. Given the early stages of our discussions with University Lands on our drilling obligations for 2021 and the continuous flexibility we have with our drilling program to adjust as market and business conditions warrant, we cannot predict whether we will incur losses or estimate the amount of any potential loss. Marketing and major customers We principally sell our crude oil, natural gas and NGL production to refiners, marketers and other purchasers that have access to nearby pipeline and rail facilities. In an effort to improve price realizations from the sale of our crude oil and natural gas, we manage our commodities marketing activities in-house, which enables us to market and sell our crude oil and natural gas to a broad array of potential purchasers. We sell a significant amount of our crude oil production through bulk sales"
1486159_10K_2020_0001486159-21-000017.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"obil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the Predecessor period of January 1, 2020 through November 19, 2020, Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our hydrocarbon product sales. No other purchasers accounted for more than 10% of our total sales in 2020 or 2019. For the year ended December 31, 2018, no purchaser accounted for more than 10% of our total sales. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil, natural gas and NGL purchasers and markets in the Williston and Permian Basins. Delivery commitments As of December 31, 2020, we had certain agreements with an aggregate requirement to deliver or transport a minimum quantit"
1486159_10K_2020_0001486159-21-000017.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"oduct sales. For the Predecessor period of January 1, 2020 through November 19, 2020, Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our hydrocarbon product sales. No other purchasers accounted for more than 10% of our total sales in 2020 or 2019. For the year ended December 31, 2018, no purchaser accounted for more than 10% of our total sales. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil, natural gas and NGL purchasers and markets in the Williston and Permian Basins. Delivery commitments As of December 31, 2020, we had certain agreements with an aggregate requirement to deliver or transport a minimum quantity of approximately 46.6 MMBbl of crude oil, 704.1 Bcf of natural gas and 28.1 MMBbl of NGLs, prior to any applicabl"
1486159_10K_2020_0001486159-21-000017.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 22%,"ur business-The marketability of our production is dependent upon crude oil, natural gas and NGL gathering, processing and transportation facilities, some of which are owned by third parties. Market conditions or operational impediments could hinder our access to crude oil, natural gas or NGL markets, delay our production or reduce the realized prices we receive.” For the Successor period of November 20, 2020 through December 31, 2020, sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the Predecessor period of January 1, 2020 through November 19, 2020, Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our hydrocarbon product sales. No other purchasers accounted for more than 10% of our total sales in 2020 or 2019. For the year ended December 31, 2018"
1486159_10K_2020_0001486159-21-000017.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 11%,"ket conditions or operational impediments could hinder our access to crude oil, natural gas or NGL markets, delay our production or reduce the realized prices we receive.” For the Successor period of November 20, 2020 through December 31, 2020, sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the Predecessor period of January 1, 2020 through November 19, 2020, Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our hydrocarbon product sales. No other purchasers accounted for more than 10% of our total sales in 2020 or 2019. For the year ended December 31, 2018, no purchaser accounted for more than 10% of our total sales. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a numbe"
1486159_10K_2020_0001486159-21-000017.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"d prices we receive.” For the Successor period of November 20, 2020 through December 31, 2020, sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the Predecessor period of January 1, 2020 through November 19, 2020, Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019, sales to Phillips 66 Company accounted for approximately 14% of our hydrocarbon product sales. No other purchasers accounted for more than 10% of our total sales in 2020 or 2019. For the year ended December 31, 2018, no purchaser accounted for more than 10% of our total sales. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil, natural gas and NGL purchasers and markets in the Williston and Permian Basins. Delivery commitments As of December 31, 20"
1486159_10K_2020_0001486159-21-000017.json,item_7,(?i)major\s+customer,major customer,"ransportation capacity, utilize derivative financial instruments to manage our commodity price risk and enter into physical delivery contracts to manage our price differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single crude oil, natural gas or NGL customer would have a material adverse effect on our results of operations or cash flows. Please see “Part I, Item 1. Business-Exploration and Production Operations-Marketing and major customers.” Our average net realized crude oil prices and average price differentials are shown in the tables below for the periods presented: Predecessor Successor 2020 Period from October 1, 2020 through November 19, 2020 Period from November 20, 2020 through December 31, 2020 Q1 Q2 Q3 Average Realized Crude Oil Prices ($/Bbl)(1) $ 43.22 $ 24.45 $ 38.52 $ 37.67 $ 43.36 Average Price Differential ($/Bbl)(2) $ 3.19 $ 2.90 $ 2.44 $ 2.07 $ 3.16 Average Price Differential Percentage(2) 7 % 11 % 6 % 5 % 7 %"
1486159_10K_2021_0001486159-22-000014.json,item_1,(?i)major\s+customer,major customer,"e daily production of 58,032 net Boepd. As of December 31, 2021, our working interest for producing wells averaged 55% in total and 77% in the wells we operate. On June 29, 2021, we completed our exit from the Permian Basin to build size and scale in the Williston Basin. For additional information on the sale of our upstream assets in the Permian Basin, see “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations-Recent Developments.” Marketing and major customers We principally sell our crude oil, natural gas and NGL production to refiners, marketers and other purchasers that have access to nearby pipeline and rail facilities. In an effort to improve price realizations from the sale of our crude oil and natural gas, we manage our commodities marketing activities in-house, which enables us to market and sell our crude oil and natural gas to a broad array of potential purchasers. We sell a significant amount of our crude oil production through bulk sales"
1486159_10K_2021_0001486159-22-000014.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total sales,"orporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the period of January 1, 2020 through November 19, 2020 (Predecessor), Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019 (Predecessor), sales to Phillips 66 Company accounted for approximately 14% of our total product sales. No other purchasers accounted for more than 10% of our total sales in 2021, 2020 or 2019. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil, natural gas and NGL purchasers and markets in the Williston Basin. Delivery commitments As of December 31, 2021, we had certain agreements with an aggregate requirement to deliver or transport a minimum quantity of approximately 45.8 MMBbl of crude oil, 603.3 Bcf of natural gas and 22.5 MMBbl of NGLs, prior to any"
1486159_10K_2021_0001486159-22-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 13%,"lated to the oil and gas industry and our business-We depend upon Crestwood, a third party midstream provider, for a large portion of our midstream services, and our failure to obtain and maintain access to the necessary infrastructure from Crestwood and other midstream providers to successfully deliver crude oil, natural gas and NGLs to market may adversely affect our earnings, cash flows and results of operations.” For the year ended December 31, 2021 (Successor), sales to Phillips 66 Company accounted for approximately 13% of our total product sales. For the period of November 20, 2020 through December 31, 2020 (Successor), sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the period of January 1, 2020 through November 19, 2020 (Predecessor), Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019 (Predecessor), sale"
1486159_10K_2021_0001486159-22-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 22%,"n access to the necessary infrastructure from Crestwood and other midstream providers to successfully deliver crude oil, natural gas and NGLs to market may adversely affect our earnings, cash flows and results of operations.” For the year ended December 31, 2021 (Successor), sales to Phillips 66 Company accounted for approximately 13% of our total product sales. For the period of November 20, 2020 through December 31, 2020 (Successor), sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the period of January 1, 2020 through November 19, 2020 (Predecessor), Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019 (Predecessor), sales to Phillips 66 Company accounted for approximately 14% of our total product sales. No other purchasers accounted for more than 10% of our total sales in 2021, 2020 or 2019. We believe that the"
1486159_10K_2021_0001486159-22-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 11%,"and results of operations.” For the year ended December 31, 2021 (Successor), sales to Phillips 66 Company accounted for approximately 13% of our total product sales. For the period of November 20, 2020 through December 31, 2020 (Successor), sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the period of January 1, 2020 through November 19, 2020 (Predecessor), Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019 (Predecessor), sales to Phillips 66 Company accounted for approximately 14% of our total product sales. No other purchasers accounted for more than 10% of our total sales in 2021, 2020 or 2019. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil, natural gas and NGL purchasers and markets in the Willist"
1486159_10K_2021_0001486159-22-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"es. For the period of November 20, 2020 through December 31, 2020 (Successor), sales to ExxonMobil Oil Corporation and Phillips 66 Company accounted for approximately 22% and 15%, respectively, of our total product sales. For the period of January 1, 2020 through November 19, 2020 (Predecessor), Phillips 66 Company and Gunvor USA LLC accounted for approximately 11% and 10%, respectively, of our total product sales. For the year ended December 31, 2019 (Predecessor), sales to Phillips 66 Company accounted for approximately 14% of our total product sales. No other purchasers accounted for more than 10% of our total sales in 2021, 2020 or 2019. We believe that the loss of any of these purchasers would not have a material adverse effect on our operations, as there are a number of alternative crude oil, natural gas and NGL purchasers and markets in the Williston Basin. Delivery commitments As of December 31, 2021, we had certain agreements with an aggregate requirement to deliver or transport a minimum quantity of approx"
1486159_10K_2021_0001486159-22-000014.json,item_7,(?i)major\s+customer,major customer,"urchasers who have access to transportation capacity, utilize derivative financial instruments to manage our commodity price risk and enter into physical delivery contracts to manage our price differentials. Due to the availability of other markets and pipeline connections, we do not believe that the loss of any single customer would have a material adverse effect on our results of operations or cash flows. Please see “Part I, Item 1. Business-Exploration and Production Operations-Marketing and major customers.” Our average net realized crude oil prices and average price differentials are shown in the tables below for the periods presented: 2021 (Successor) Year ended December 31, 2021 (Successor) Q1 Q2 Q3 Q4 Average Realized Crude Oil Prices ($/Bbl)(1) $ 56.09 $ 65.53 $ 70.11 $ 76.37 $ 67.49 Average Price Differential ($/Bbl)(2) $ 1.58 $ 0.61 $ 0.43 $ 0.24 $ 0.70 Average Price Differential Percentage(2) 3 % 1 % 1 % 0.3 % 1 % Predecessor Successor 2020 Period from October 1, 2020 through November 19"
1506307_10K_2014_0001506307-15-000014.json,item_1,(?i)major\s+customer,Major Customer,"ancouver International Airport. The impact of this facility on our existing Jet Fuel pipeline system is uncertain at this time. Other During 2014, our other segment activity primarily includes other miscellaneous assets and liabilities purchased in our 2012 EP acquisition including (i) our corporate headquarters in Houston, Texas; (ii) several physical natural gas contracts with power plants associated with EP’s legacy trading activities; and (iii) other miscellaneous EP assets and liabilities. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2014, 2013 and 2012, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas intrastate natural gas pipeline group buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from"
1506307_10K_2014_0001506307-15-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"es other miscellaneous assets and liabilities purchased in our 2012 EP acquisition including (i) our corporate headquarters in Houston, Texas; (ii) several physical natural gas contracts with power plants associated with EP’s legacy trading activities; and (iii) other miscellaneous EP assets and liabilities. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2014, 2013 and 2012, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas intrastate natural gas pipeline group buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from the Natural Gas Pipelines and CO2 business segments in 2014, 2013 and 2012 accounted for 25%, 28% and 28%, respectively, of our total consolidated revenues. To the extent possible, we attempt"
1506307_10K_2014_0001506307-15-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 25%,"ded December 31, 2014, 2013 and 2012, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas intrastate natural gas pipeline group buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from the Natural Gas Pipelines and CO2 business segments in 2014, 2013 and 2012 accounted for 25%, 28% and 28%, respectively, of our total consolidated revenues. To the extent possible, we attempt to balance the pricing and timing of our natural gas purchases to our natural gas sales, and these contracts are often settled in terms of an index price for both purchases and sales. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Regulation Interstate Common Carrier R"
1506307_10K_2015_0001506307-16-000072.json,item_1,(?i)major\s+customer,Major Customer,"fuel terminal to be located near the Vancouver International Airport. The impact of this facility on our existing Jet Fuel pipeline system is uncertain at this time. Other During 2015, our other segment activity primarily includes other miscellaneous assets and liabilities including (i) our corporate headquarters in Houston, Texas; (ii) several physical natural gas contracts with power plants associated with legacy trading activities; and (iii) other miscellaneous legacy assets and liabilities. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2015, 2014 and 2013, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline"
1506307_10K_2015_0001506307-16-000072.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ther segment activity primarily includes other miscellaneous assets and liabilities including (i) our corporate headquarters in Houston, Texas; (ii) several physical natural gas contracts with power plants associated with legacy trading activities; and (iii) other miscellaneous legacy assets and liabilities. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2015, 2014 and 2013, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from"
1506307_10K_2015_0001506307-16-000072.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 20%,"es the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from the Natural Gas Pipelines and CO2 business segments in 2015, 2014 and 2013 accounted for 20%, 25% and 28%, respectively, of our total consolidated revenues. To the extent possible, we attempt to balance the pricing and timing of our natural gas purchases to our natural gas sales, and these contracts are often settled in terms of an index price for both purchases and sales. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Regulation Interstate Common Carrier R"
1506307_10K_2016_0001506307-17-000008.json,item_1,(?i)major\s+customer,Major Customer,"Morgan Canada,” we believe that the Trans Mountain pipeline facilities provide us the opportunity to execute on capacity expansions to the west coast as the market for offshore exports continues to develop. In December 2013, the British Columbia Ministry of Environment granted approval for a new, airport fuel consortium owned, jet fuel terminal to be located near the Vancouver International Airport. The impact of this facility on our existing Jet Fuel pipeline system is uncertain at this time. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2016, 2015 and 2014, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline"
1506307_10K_2016_0001506307-17-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"inues to develop. In December 2013, the British Columbia Ministry of Environment granted approval for a new, airport fuel consortium owned, jet fuel terminal to be located near the Vancouver International Airport. The impact of this facility on our existing Jet Fuel pipeline system is uncertain at this time. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2016, 2015 and 2014, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from"
1506307_10K_2016_0001506307-17-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 19%,"es the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from the Natural Gas Pipelines and CO2 business segments in 2016, 2015 and 2014 accounted for 19%, 20% and 25%, respectively, of our total consolidated revenues. To the extent possible, we attempt to balance the pricing and timing of our natural gas purchases to our natural gas sales, and these contracts are often settled in terms of an index price for both purchases and sales. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Regulation Interstate Common Carrier R"
1506307_10K_2017_0001506307-18-000010.json,item_1,(?i)major\s+customer,Major Customer,"ar the airport. The Jet Fuel pipeline systems’ supplying refinery was sold in 2017. As a result of that sale, we are unable to predict whether, and to what extent, that refinery will continue to supply jet fuel to the Jet Fuel pipeline. These developments have made it unclear how much jet fuel will continue to be available for shipment to the Vancouver International Airport by way of the Jet Fuel pipeline in the future. We continue to assess our options relating to our Jet Fuel pipeline assets. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2017, 2016 and 2015, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kin"
1506307_10K_2017_0001506307-18-000010.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"e to supply jet fuel to the Jet Fuel pipeline. These developments have made it unclear how much jet fuel will continue to be available for shipment to the Vancouver International Airport by way of the Jet Fuel pipeline in the future. We continue to assess our options relating to our Jet Fuel pipeline assets. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2017, 2016 and 2015, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys an"
1506307_10K_2017_0001506307-18-000010.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 22%,"es the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from the Natural Gas Pipelines and CO2 business segments in 2017, 2016 and 2015 accounted for 22%, 19% and 20%, respectively, of our total consolidated revenues. To the extent possible, we attempt to balance the pricing and timing of our natural gas purchases to our natural gas sales, and these contracts are often settled in terms of an index price for both purchases and sales. Regulation Interstate Common Carrier Refined Petroleum Products and Oil Pipeline Rate Regulation - U.S. Operations Some of our U.S. refined petroleum products and crude oil gathering and transmission pipelines are in"
1506307_10K_2018_0001506307-19-000033.json,item_1,(?i)major\s+customer,Major Customer,"t, in addition, we have a 28% net profits interest. Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2018, 2017 and 2016, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kin"
1506307_10K_2018_0001506307-19-000033.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"heep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2018, 2017 and 2016, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Our Texas Intrastate Natural Gas Pipeline operations (includes the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys an"
1506307_10K_2018_0001506307-19-000033.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 23%,"es the operations of Kinder Morgan Tejas Pipeline LLC, Kinder Morgan Border Pipeline LLC, Kinder Morgan Texas Pipeline LLC, Kinder Morgan North Texas Pipeline LLC and the Mier-Monterrey Mexico pipeline system) buys and sells significant volumes of natural gas within the state of Texas, and, to a far lesser extent, the CO2 business segment also sells natural gas. Combined, total revenues from the sales of natural gas from the Natural Gas Pipelines and CO2 business segments in 2018, 2017 and 2016 accounted for 23%, 22% and 19%, respectively, of our total consolidated revenues. To the extent possible, we attempt to balance the pricing and timing of our natural gas purchases to our natural gas sales, and these contracts are often settled in terms of an index price for both purchases and sales. Regulation Interstate Common Carrier Refined Petroleum Products and Oil Pipeline Rate Regulation - U.S. Operations Some of our U.S. refined petroleum products and crude oil gathering and transmission pipelines are in"
1506307_10K_2018_0001506307-19-000033.json,item_7,(?i)largest\s+customer,largest customer,"per barrel in 2017 and $41.36 per barrel in 2016. Also, see Note 16 “Revenue Recognition” to our consolidated financial statements for more information about the types of contracts and revenues recognized for each of our segments. Investment in Ruby In January 2019, Pacific Gas and Electric (PG&E) filed for Chapter 11 bankruptcy protection. Our exposure to PG&E is limited to our $750 million equity investment in Ruby and an approximate $55 million note receivable from Ruby, where PG&E is Ruby’s largest customer. PG&E represents approximately $93 million of annual revenues on Ruby, and our partner’s preferred equity interest in Ruby is senior to our interest. Despite the bankruptcy filing, Ruby continues to perform under its existing service contracts with PG&E, and PG&E has provided credit support on its trade payables to Ruby through a prepayment arrangement. While the ultimate outcome of the bankruptcy proceedings remains uncertain, there is the potential for Ruby’s existing contracts with PG&E to b"
1506307_10K_2019_0001506307-20-000022.json,item_1,(?i)major\s+customer,Major Customer,"t, in addition, we have a 28% net profits interest. Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2019, 2018 and 2017, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Regulation Interstate Natural Gas Transportation and Storage Regulation As an owner"
1506307_10K_2019_0001506307-20-000022.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"heep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2019, 2018 and 2017, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Regulation Interstate Natural Gas Transportation and Storage Regulation As an owner and operator of natural gas companies subject to the Natural Gas Act of 1938, we are required to provide service to shippers on our interstate natural gas pipelines and storage facilities at re"
1506307_10K_2020_0001506307-21-000022.json,item_1,(?i)major\s+customer,Major Customer,"t, in addition, we have a 28% net profits interest. Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2020, 2019 and 2018, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Interstate Natural Gas Transportation and Storage Regulation As"
1506307_10K_2020_0001506307-21-000022.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"heep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2020, 2019 and 2018, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Interstate Natural Gas Transportation and Storage Regulation As an owner and operator of natural gas companies subject to the Natural Gas Act of 1938, we are required to provide service to shippers on our interstate natural gas pipelines and storage facilit"
1506307_10K_2020_0001506307-21-000022.json,item_7,(?i)major\s+customer,major customer,"nt EBDA in the comparable years of 2020 and 2019: •the Sale of KML assets to Pembina on December 16, 2019, which accounted for the decreases on our Alberta Canada terminals and our West Coast terminals; •decrease of $23 million (7%) from our Gulf Liquids terminals primarily driven by lower volumes and associated ancillary fees related to demand reduction attributable to COVID-19 as well as tanks being temporarily off-lease as they are transitioned to new customers following the termination of a major customer contract; •decrease of $10 million (15%) from our Mid Atlantic terminals primarily due to lower coal volumes at our Pier IX facility driven by coal market weakness largely attributable to demand reduction associated with COVID-19; and •decrease of $8 million (12%) from our Gulf Bulk terminals primarily due to decreased coal volumes and the impact of an expired contract in January 2020. CO2 Year Ended December 31, 2020 2019 (In millions, except operating statistics) Revenues $ 1,038 $ 1,219 Oper"
1506307_10K_2021_0001506307-22-000018.json,item_1,(?i)major\s+customer,Major Customer,"ndiana Indy High BTU [0.8] RNG 50 % Indiana Segment Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2021, 2020 and 2019, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Interstate Natural Gas Transportation and Storage Regulation We"
1506307_10K_2021_0001506307-22-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"heep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We also compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2021, 2020 and 2019, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Interstate Natural Gas Transportation and Storage Regulation We operate our interstate natural gas pipeline and storage facilities subject to the jurisdiction of the FERC and the provisions of the Natural Gas Act of 1938 (NGA), the Natural Gas Policy Act of"
1506307_10K_2022_0001506307-23-000023.json,item_1,(?i)major\s+customer,Major Customer,"for more information on crude oil sales prices. Segment Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2022, 2021 and 2020, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Our business operations are subject to extensive federal, state"
1506307_10K_2022_0001506307-23-000023.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2022, 2021 and 2020, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Our business operations are subject to extensive federal, state and local laws and regulations. Please read Item 1A. “Risk Factors-Risks Related to Regulation” for discussions of the risks we face related to regulation. For information related to pending re"
1506307_10K_2023_0001506307-24-000011.json,item_1,(?i)major\s+customer,Major Customer,"more information on crude oil sales prices. CO2 Segment Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2023, 2022 and 2021, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Our business operations are subject to extensive federal, state"
1506307_10K_2023_0001506307-24-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2023, 2022 and 2021, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Our business operations are subject to extensive federal, state and local laws and regulations. Please read Item 1A. “Risk Factors-Risks Related to Regulation” for discussions of the risks we face related to regulation. For information related to pending re"
1506307_10K_2024_0001506307-25-000008.json,item_1,(?i)major\s+customer,Major Customer,"more information on crude oil sales prices. CO2 Segment Competition Our primary competitors for the sale of CO2 include suppliers that have an ownership interest in McElmo Dome, Bravo Dome and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2024, 2023 and 2022, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Our business operations are subject to extensive federal, state"
1506307_10K_2024_0001506307-25-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"and Sheep Mountain CO2 resources. Our ownership interests in the Central Basin, Cortez and Bravo pipelines are in direct competition with other CO2 pipelines. We compete with other interest owners in the McElmo Dome unit and the Bravo Dome unit for transportation of CO2 to the Denver City, Texas market area. Major Customers Our revenue is derived from a wide customer base. For each of the years ended December 31, 2024, 2023 and 2022, no revenues from transactions with a single external customer accounted for 10% or more of our total consolidated revenues. We do not believe that a loss of revenues from any single customer would have a material adverse effect on our business, financial position, results of operations or cash flows. Industry Regulation Our business operations are subject to extensive federal, state and local laws and regulations. Please read Item 1A. “Risk Factors-Risks Related to Regulation” for discussions of the risks we face related to regulation. For information related to pending re"
1510295_10K_2020_0001510295-21-000027.json,item_1,(?i)supply\s+agreement,supply agreement,"transaction is targeted to close by the end of the first quarter of 2021, subject to customary closing conditions and the receipt of regulatory approvals. This transaction is expected to result in after-tax cash proceeds of approximately $16.5 billion. We expect to use the proceeds from the sale to strengthen the balance sheet and return capital to shareholders. In connection with the agreement to sell Speedway, we have agreed to enter into certain ancillary agreements, including a 15-year fuel supply agreement associated with 7-Eleven or its subsidiaries, depending on the fuel demand of Speedway and other factors to be set forth in the fuel supply agreement. Further, we expect incremental opportunities over time to supply 7-Eleven's remaining business as 7-Eleven's existing arrangements mature and as new locations are added in connection with its announced U.S. and Canada growth strategy. As a result of the agreement to sell Speedway, its results are reported separately as discontinued operations in"
1510295_10K_2020_0001510295-21-000027.json,item_1,(?i)supply\s+agreement,supply agreement,"als. This transaction is expected to result in after-tax cash proceeds of approximately $16.5 billion. We expect to use the proceeds from the sale to strengthen the balance sheet and return capital to shareholders. In connection with the agreement to sell Speedway, we have agreed to enter into certain ancillary agreements, including a 15-year fuel supply agreement associated with 7-Eleven or its subsidiaries, depending on the fuel demand of Speedway and other factors to be set forth in the fuel supply agreement. Further, we expect incremental opportunities over time to supply 7-Eleven's remaining business as 7-Eleven's existing arrangements mature and as new locations are added in connection with its announced U.S. and Canada growth strategy. As a result of the agreement to sell Speedway, its results are reported separately as discontinued operations in our consolidated statements of income for all periods presented and its assets and liabilities have been reclassified in our consolidated balance shee"
1520006_10K_2014_0001520006-15-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 68%,"al gas has historically been seasonal in nature, with peak demand and typically higher prices during the colder winter months. See “Risk Factors - Our Success Is Dependent on the Prices of Oil and Natural Gas. Low Oil or Natural Gas Prices and the Substantial Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the year ended December 31, 2014, we had three significant purchasers that accounted for approximately 68% of our total oil, natural gas and natural gas liquids revenues. For the years ended December 31, 2013 and 2012, we had five and three significant purchasers that accounted for approximately 87% and 74%, respectively, of our total oil, natural gas and natural gas liquids revenues. Due to the nature of the markets for oil, natural gas and natural gas liquids, we do not believe that the loss of any one of these purchasers would have a material adverse impact on our financial condition, results of"
1520006_10K_2014_0001520006-15-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 87%,"nd Natural Gas. Low Oil or Natural Gas Prices and the Substantial Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the year ended December 31, 2014, we had three significant purchasers that accounted for approximately 68% of our total oil, natural gas and natural gas liquids revenues. For the years ended December 31, 2013 and 2012, we had five and three significant purchasers that accounted for approximately 87% and 74%, respectively, of our total oil, natural gas and natural gas liquids revenues. Due to the nature of the markets for oil, natural gas and natural gas liquids, we do not believe that the loss of any one of these purchasers would have a material adverse impact on our financial condition, results of operations or cash flows for any significant period of time. Effective September 1, 2012, we entered into a firm five-year natural gas processing and transportation agreement whereby we committe"
1520006_10K_2015_0001520006-16-000245.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 59%,"al gas has historically been seasonal in nature, with peak demand and typically higher prices during the colder winter months. See “Risk Factors - Our Success Is Dependent on the Prices of Oil and Natural Gas. Low Oil or Natural Gas Prices and the Substantial Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the year ended December 31, 2015, we had three significant purchasers that accounted for approximately 59% of our total oil, natural gas and natural gas liquids revenues. For the years ended December 31, 2014 and 2013, we had three and five significant purchasers that accounted for approximately 68% and 87%, respectively, of our total oil, natural gas and natural gas liquids revenues. Due to the nature of the markets for oil, natural gas and natural gas liquids, we do not believe that the loss of any one of these purchasers would have a material adverse impact on our financial condition, results of"
1520006_10K_2015_0001520006-16-000245.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 68%,"nd Natural Gas. Low Oil or Natural Gas Prices and the Substantial Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the year ended December 31, 2015, we had three significant purchasers that accounted for approximately 59% of our total oil, natural gas and natural gas liquids revenues. For the years ended December 31, 2014 and 2013, we had three and five significant purchasers that accounted for approximately 68% and 87%, respectively, of our total oil, natural gas and natural gas liquids revenues. Due to the nature of the markets for oil, natural gas and natural gas liquids, we do not believe that the loss of any one of these purchasers would have a material adverse impact on our financial condition, results of operations or cash flows for any significant period of time. Effective September 1, 2012, we entered into a firm five-year natural gas processing and transportation agreement whereby we committe"
1520006_10K_2016_0001520006-17-000074.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 48%,"ations, if they occur, curtail our production capabilities and ability to maintain a steady source of revenue. See “Risk Factors - Our Success Is Dependent on the Prices of Oil and Natural Gas. Low Oil or Natural Gas Prices and the Substantial Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the years ended December 31, 2016, 2015 and 2014, we had three significant purchasers that accounted for approximately 48%, 59% and 68%, respectively, of our total oil, natural gas and natural gas liquids revenues. Due to the nature of the markets for oil, natural gas and natural gas liquids, we do not believe that the loss of any one of these purchasers would have a material adverse impact on our financial condition, results of operations or cash flows for any significant period of time. Title to Properties We endeavor to assure that title to our properties is in accordance with standards generally accepted in the"
1520006_10K_2017_0001520006-18-000053.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 60%,"our production capabilities and ability to maintain a steady source of revenue. See “Risk Factors - Our Success Is Dependent on the Prices of Oil and Natural Gas. Low Oil and Natural Gas Prices and the Continued Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the years ended December 31, 2017, 2016 and 2015, we had four, three and three significant purchasers, respectively, that accounted for approximately 60%, 48% and 59%, respectively, of our total oil, natural gas and NGL revenues. Due to the nature of the markets for oil, natural gas and NGLs, we do not believe that the loss of any one of these purchasers would have a material adverse impact on our financial condition, results of operations or cash flows for any significant period of time. Title to Properties We endeavor to assure that title to our properties is in accordance with standards generally accepted in the oil and natural gas industry."
1520006_10K_2018_0001520006-19-000048.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 60%,"l our production capabilities and ability to maintain a steady source of revenue. See “Risk Factors - Our Success Is Dependent on the Prices of Oil and Natural Gas. Low Oil and Natural Gas Prices and the Continued Volatility in These Prices May Adversely Affect Our Financial Condition and Our Ability to Meet Our Capital Expenditure Requirements and Financial Obligations.” For the years ended December 31, 2018, 2017 and 2016, we had four, four and three significant purchasers, respectively, that accounted for approximately 60%, 60% and 48%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1520006_10K_2019_0001520006-20-000037.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 67%,"wellhead price we receive could adversely affect our business, financial condition, results of operations and cash flows. See “Risk Factors - An Increase in the Differential between the NYMEX or Other Benchmark Prices of Oil and Natural Gas and the Wellhead Price We Receive for Our Production Could Adversely Affect Our Business, Financial Condition, Results of Operations and Cash Flows.” For the years ended December 31, 2019, 2018 and 2017, we had two, four and four significant purchasers that accounted for approximately 67%, 60% and 60%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1520006_10K_2020_0001520006-21-000056.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 65%,"sely affect our business, financial condition, results of operations and cash flows. See “Risk Factors-Risks Related to our Financial Condition-An increase in the differential between the NYMEX or other benchmark prices of oil and natural gas and the wellhead price we receive for our production could adversely affect our business, financial condition, results of operations and cash flows.” For the years ended December 31, 2020, 2019 and 2018, we had two, two and four significant purchasers that accounted for approximately 65%, 67% and 60%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1520006_10K_2021_0001520006-22-000065.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 72%,"business, financial condition, results of operations and cash flows. See “Risk Factors-Risks Related to our Financial Condition-An increase in the differential between the NYMEX or other benchmark prices of oil and natural gas and the wellhead price we receive for our production could adversely affect our business, financial condition, results of operations and cash flows.” For the years ended December 31, 2021, 2020 and 2019, we had three, two and two significant purchasers, respectively, that accounted for approximately 72%, 65% and 67%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1520006_10K_2022_0001520006-23-000056.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 70%,"siness, financial condition, results of operations and cash flows. See “Risk Factors-Risks Related to our Financial Condition-An increase in the differential between the NYMEX or other benchmark prices of oil and natural gas and the wellhead price we receive for our production could adversely affect our business, financial condition, results of operations and cash flows.” For the years ended December 31, 2022, 2021 and 2020, we had three, three and two significant purchasers, respectively, that accounted for approximately 70%, 72% and 65%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1520006_10K_2023_0001520006-24-000078.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 76%,"ive could adversely affect our business, financial condition, results of operations and cash flows. See “Risk Factors-Risks Related to our Financial Condition-A change in the differential between the NYMEX or other benchmark prices of oil and natural gas and the wellhead price we receive for our production could adversely affect our business, financial condition, results of operations and cash flows.” For the years ended December 31, 2023, 2022 and 2021, we had three significant purchasers that accounted for approximately 76%, 70% and 72%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1520006_10K_2024_0001520006-25-000066.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 79%,"ive could adversely affect our business, financial condition, results of operations and cash flows. See “Risk Factors-Risks Related to our Financial Condition-A change in the differential between the NYMEX or other benchmark prices of oil and natural gas and the wellhead price we receive for our production could adversely affect our business, financial condition, results of operations and cash flows.” For the years ended December 31, 2024, 2023 and 2022, we had three significant purchasers that accounted for approximately 79%, 76% and 70%, respectively, of our total oil, natural gas and NGL revenues. If we lost one or more of these significant purchasers and were unable to sell our production to other purchasers on terms we consider acceptable, it could materially and adversely affect our business, financial condition, results of operations and cash flows. For further details regarding these purchasers, see Note 2 to the consolidated financial statements in this Annual Report. Such information is incorporated herein"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"thresholds are to be approved by the senior management. Our intention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for Paulsboro and Delaware City on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Statoil and Saudi Aramco. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks internally. Our crude oil supply agreement with Statoil for Delaware City was extended by Statoil through December 31, 2015 and we entered into certain amendments to that agreement that are effective through the extended term. In addition, we have a contract with Saudi Aramco to purchase crude oil"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"tention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for Paulsboro and Delaware City on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Statoil and Saudi Aramco. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks internally. Our crude oil supply agreement with Statoil for Delaware City was extended by Statoil through December 31, 2015 and we entered into certain amendments to that agreement that are effective through the extended term. In addition, we have a contract with Saudi Aramco to purchase crude oil, and also purchase on the spot market from Saudi Aramco when s"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"ning security such as guarantees or letters of credit. Other Factors We currently source our crude oil for Paulsboro and Delaware City on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Statoil and Saudi Aramco. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks internally. Our crude oil supply agreement with Statoil for Delaware City was extended by Statoil through December 31, 2015 and we entered into certain amendments to that agreement that are effective through the extended term. In addition, we have a contract with Saudi Aramco to purchase crude oil, and also purchase on the spot market from Saudi Aramco when strategic opportunities arise. We have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at Paulsboro. Prior to the termination of the"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"expense is primarily due to the issuance of the $300.0 million PBFX Term Loan in connection with the PBFX Offering and the related amortization of deferred financing fees as well as higher letter of credit fees. In addition, the increase is also due to borrowings under our revolving credit facilities. Interest expense includes interest on long-term debt, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreements with Statoil, financing cost associated with the Inventory Intermediation Agreements with J. Aron, letter of credit fees associated with the purchase of certain crude oils, and the amortization of deferred financing costs. Income Tax Expense- PBF LLC is organized as a limited liability company and PBFX is a master limited partnership, both of which are treated as ""flow-through"" entities for federal income tax purposes and therefore are not subject to income tax. However, the members of PBF LLC"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"nt consideration related to the Toledo refinery acquisition and the liability was paid in full in April 2013. Interest Expense, net- Interest expense totaled $93.8 million for the year ended December 31, 2013, compared to $108.6 million for the year ended December 31, 2012, a decrease of $14.8 million. Interest expense includes interest on long-term debt, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreements with Statoil and MSCG, financing cost associated with the Inventory Intermediation Agreements, letter of credit fees associated with the purchase of certain crude oils, and the amortization of deferred financing fees. The decrease in interest expense primarily relates to lower interest costs associated with our credit facilities reflecting lower average outstanding borrowings, reduced financing costs related to the termination of the Paulsboro Statoil supply agreement, and the $4.4 million wri"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"h our crude and feedstock supply agreements with Statoil and MSCG, financing cost associated with the Inventory Intermediation Agreements, letter of credit fees associated with the purchase of certain crude oils, and the amortization of deferred financing fees. The decrease in interest expense primarily relates to lower interest costs associated with our credit facilities reflecting lower average outstanding borrowings, reduced financing costs related to the termination of the Paulsboro Statoil supply agreement, and the $4.4 million write-off of deferred financing costs in the first quarter of 2012 on debt that was repaid from the proceeds of our Senior Secured Notes. Income Tax Expense- As PBF LLC is a limited liability company treated as a ""flow-through"" entity for income tax purposes, the members of PBF LLC are required to include their proportionate share of PBF LLC’s taxable income or loss on their respective tax returns. Accordingly, PBF Energy’s consolidated financial statements do not include"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"ed compensation of $3.8 million, partially offset by change in the fair value of our inventory repurchase obligations of $20.5 million, changes in the fair value of our catalyst lease of $4.7 million and a gain on sales of assets of $0.2 million. In addition, net changes in working capital reflected uses of cash of $61.1 million driven by the timing of inventory purchases and collections of accounts receivables as well as payments associated with the terminations of the MSCG offtake and Statoil supply agreements. Net cash provided by operating activities was $291.3 million for the year ended December 31, 2013 compared to net cash provided by operating activities of $812.4 million for the year ended December 31, 2012. Our operating cash flows for the year ended December 31, 2012 included our net income of $804.0 million, plus net non-cash charges relating to depreciation and amortization of $97.7 million, pension and other post retirement benefits of $12.7 million, changes in fair value of our catalyst"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,Supply Agreement,"n shares of the Company's Class A common stock under the Repurchase Program for $142,731 through open market transactions. Working Capital Working capital for PBF Energy at December 31, 2014 was $803.8 million, consisting of $2,346.7 million in total current assets and $1,542.8 million in total current liabilities. Working capital at December 31, 2013 was $556.0 million, consisting of $2,200.5 million in total current assets and $1,644.5 million in total current liabilities. Crude and Feedstock Supply Agreements We have acquired crude oil for our Paulsboro and Delaware City refineries under supply agreements whereby Statoil generally purchased the crude oil requirements for each refinery on our behalf and under our direction. Our agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks internally. We amended our agreement with Statoil for Delaware City in 2012 and the term was extended by Statoil through Decembe"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"pen market transactions. Working Capital Working capital for PBF Energy at December 31, 2014 was $803.8 million, consisting of $2,346.7 million in total current assets and $1,542.8 million in total current liabilities. Working capital at December 31, 2013 was $556.0 million, consisting of $2,200.5 million in total current assets and $1,644.5 million in total current liabilities. Crude and Feedstock Supply Agreements We have acquired crude oil for our Paulsboro and Delaware City refineries under supply agreements whereby Statoil generally purchased the crude oil requirements for each refinery on our behalf and under our direction. Our agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks internally. We amended our agreement with Statoil for Delaware City in 2012 and the term was extended by Statoil through December 31, 2015. Statoil generally provides transportation and logistics services, risk management serv"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"risk of loss while the Statoil inventory is in our storage tanks and because we have an obligation to repurchase Statoil’s inventory upon termination of the agreements at the then market value. Additionally, for our purchases of Saudi crude oil under our agreement with Saudi Aramco, similar to our purchases of other foreign waterborne crudes, we posted letters of credit and arranged for shipment. We paid for the crude when we were invoiced and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"Aramco, similar to our purchases of other foreign waterborne crudes, we posted letters of credit and arranged for shipment. We paid for the crude when we were invoiced and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourc"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs internally, which has increased the volumes of crude oil we own. In connection with the crude and feedstock supply agreements for our"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"der the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs internally, which has increased the volumes of crude oil we own. In connection with the crude and feedstock supply agreements for our Delaware City refinery and formerly for the Paulsboro refinery, Statoil also purchases the refineries production of certain feedstocks or purchases feedstocks from third parties on the refineries' behalf. Legal title to the feedstocks is held by Statoil and stored in the refineries’ storage tanks until they are need"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"he Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs internally, which has increased the volumes of crude oil we own. In connection with the crude and feedstock supply agreements for our Delaware City refinery and formerly for the Paulsboro refinery, Statoil also purchases the refineries production of certain feedstocks or purchases feedstocks from third parties on the refineries' behalf. Legal title to the feedstocks is held by Statoil and stored in the refineries’ storage tanks until they are needed for further use in the refining process. At that time, the feedstocks are drawn out of the storage tanks and purchased by the refineries. These purchases and sales are ne"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,harged out of the refineries' tanks. J. Aron has the right to store the Products purchased in the Company's tanks under the Inventory Intermediation Agreements and will retain these storage rights for the term of the agreements. Inventory held outside the refineries may be owned by the Company or by J. Aron under the Inventory Intermediation Agreements. The Company will market and sell the Products independently to third parties. Our Delaware City refinery sells and purchases feedstocks under a supply agreement with Statoil. Statoil purchases the refinery’s production of certain feedstocks or purchases feedstocks from third parties on the refinery’s behalf. Legal title to the feedstocks is held by Statoil and the feedstocks are held in the refinery’s storage tanks until they are needed for further use in the refining process. At that time the feedstocks are drawn out of the storage tanks and purchased by us. These purchases and sales are settled monthly at the daily market prices related to those feed
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"the refining process. At that time the feedstocks are drawn out of the storage tanks and purchased by us. These purchases and sales are settled monthly at the daily market prices related to those feedstocks. These transactions are considered to be made in the contemplation of each other and, accordingly, do not result in the recognition of a sale when title passes from the refinery to the counterparty. Inventory remains at cost and the net cash receipts result in a liability. The Statoil crude supply agreement with Paulsboro terminated effective March 31, 2013, at which time we began to purchase from Statoil the feedstocks owned by them at that date that had been purchased on our behalf. Inventory Inventories are carried at the lower of cost or market. The cost of crude oil, feedstocks, blendstocks and refined products is determined under the LIFO method using the dollar value LIFO method with increments valued based on average cost during the year. The cost of supplies and other inventories is deter"
1534504_10K_2014_0001534504-15-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"had been purchased on our behalf. Inventory Inventories are carried at the lower of cost or market. The cost of crude oil, feedstocks, blendstocks and refined products is determined under the LIFO method using the dollar value LIFO method with increments valued based on average cost during the year. The cost of supplies and other inventories is determined principally on the weighted average cost method. Our Delaware City refinery acquires a portion of its crude oil from Statoil under our crude supply agreement whereby we take title to the crude oil as it is delivered to our processing units. We have risk of loss while the Statoil inventory is in our storage tanks. We are obligated to purchase all of the crude oil held by Statoil on our behalf upon termination of the agreements. As a result of the purchase obligations, we record the inventory of crude oil and feedstocks in the refinery’s storage facilities. The purchase obligations contain derivatives that change in value based on changes in commodity"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,", 2012 as amended (the ""Toledo Crude Oil Acquisition Agreement"") with MSCG. Under the terms of the Toledo Crude Oil Acquisition Agreement, we previously acquired substantially all of our crude oil for our subsidiary's Toledo refinery from MSCG through delivery at various interstate pipeline locations. No early termination penalties were incurred by us as a result of the termination. We began sourcing our own crude oil needs for Toledo upon termination. Effective December 31, 2015, our crude oil supply agreement with Statoil for the Delaware City refinery expired. Subsequent to the termination of the Statoil supply agreement, we purchase all of our crude and feedstock needs independently from a variety of suppliers, including Saudi Aramco and others, on the spot market or through term agreements. We have a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. PBF Energy Inc. Public Offerings On December 12, 2012, PBF E"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"Acquisition Agreement, we previously acquired substantially all of our crude oil for our subsidiary's Toledo refinery from MSCG through delivery at various interstate pipeline locations. No early termination penalties were incurred by us as a result of the termination. We began sourcing our own crude oil needs for Toledo upon termination. Effective December 31, 2015, our crude oil supply agreement with Statoil for the Delaware City refinery expired. Subsequent to the termination of the Statoil supply agreement, we purchase all of our crude and feedstock needs independently from a variety of suppliers, including Saudi Aramco and others, on the spot market or through term agreements. We have a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. PBF Energy Inc. Public Offerings On December 12, 2012, PBF Energy completed an initial public offering of 23,567,686 shares of its Class A common stock at a public offering pr"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"oved by the senior management. Our intention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for the Paulsboro, Delaware City and Chalmette refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco and PDVSA. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks independently. Our crude oil supply agreement with Statoil for Delaware City expired on December 31, 2015. Subsequent to the termination of the Statoil supply agreement, we purchase all of our crude and feedstock needs independently from a variety of suppliers, including Saudi Aramco and others, on"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for the Paulsboro, Delaware City and Chalmette refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco and PDVSA. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks independently. Our crude oil supply agreement with Statoil for Delaware City expired on December 31, 2015. Subsequent to the termination of the Statoil supply agreement, we purchase all of our crude and feedstock needs independently from a variety of suppliers, including Saudi Aramco and others, on the spot market or through term agreements. We have been purc"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"ntees or letters of credit. Other Factors We currently source our crude oil for the Paulsboro, Delaware City and Chalmette refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco and PDVSA. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks independently. Our crude oil supply agreement with Statoil for Delaware City expired on December 31, 2015. Subsequent to the termination of the Statoil supply agreement, we purchase all of our crude and feedstock needs independently from a variety of suppliers, including Saudi Aramco and others, on the spot market or through term agreements. We have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at Paulsboro. We have a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco and PDVSA. Our crude oil supply agreement with Statoil for Paulsboro was terminated effective March 31, 2013, at which time we began to source Paulsboro’s crude oil and feedstocks independently. Our crude oil supply agreement with Statoil for Delaware City expired on December 31, 2015. Subsequent to the termination of the Statoil supply agreement, we purchase all of our crude and feedstock needs independently from a variety of suppliers, including Saudi Aramco and others, on the spot market or through term agreements. We have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at Paulsboro. We have a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. Prior to the termination of the Toledo Crude Oil Acquisi"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"als catalyst, which we are obligated to return or repurchase at fair market value on the lease termination dates. Interest Expense, net- Interest expense totaled $106.2 million for the year ended December 31, 2015, compared to $98.8 million for the year ended December 31, 2014, an increase of $7.4 million. This increase is mainly attributable to higher interest costs associated with the issuance of the PBFX Senior Notes in May 2015, partially offset by the termination of our crude and feedstock supply agreement with MSCG, effective July 31, 2014. Interest expense includes interest on long-term debt including the Senior Secured Notes, the PBFX Senior Notes and credit facilities, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreement with Statoil up to its expiration on December 31, 2015, financing costs associated with the Inventory Intermediation Agreements with J. Aron, letter of credit fees associ"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"ly attributable to higher interest costs associated with the issuance of the PBFX Senior Notes in May 2015, partially offset by the termination of our crude and feedstock supply agreement with MSCG, effective July 31, 2014. Interest expense includes interest on long-term debt including the Senior Secured Notes, the PBFX Senior Notes and credit facilities, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreement with Statoil up to its expiration on December 31, 2015, financing costs associated with the Inventory Intermediation Agreements with J. Aron, letter of credit fees associated with the purchase of certain crude oils, and the amortization of deferred financing costs. Income Tax Expense- PBF LLC is organized as a limited liability company and PBFX is a master limited partnership, both of which are treated as ""flow-through"" entities for federal income tax purposes and therefore are not subject to i"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"expense is primarily due to the issuance of the $300.0 million PBFX Term Loan in connection with the PBFX Offering and the related amortization of deferred financing fees as well as higher letter of credit fees. In addition, the increase is also due to borrowings under our revolving credit facilities. Interest expense includes interest on long-term debt, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreements with Statoil, financing cost associated with the Inventory Intermediation Agreements with J. Aron, letter of credit fees associated with the purchase of certain crude oils, and the amortization of deferred financing costs. Income Tax Expense- PBF LLC is organized as a limited liability company and PBFX is a master limited partnership, both of which are treated as ""flow-through"" entities for federal income tax purposes and therefore are not subject to income tax. However, the members of PBF LLC"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"k-based compensation of $3.8 million, partially offset by changes in fair value of our inventory repurchase obligations of $20.5 million, change in the fair value of our catalyst lease of $4.7 million and a gain on sales of assets of $0.2 million. In addition, net changes in working capital reflected uses of cash of $61.1 million driven by the timing of inventory purchases and collections of accounts receivables as well as payments associated with the termination of the MSCG offtake and Statoil supply agreements. Cash Flows from Investing Activities Net cash used in investing activities was $812.1 million for the year ended December 31, 2015 compared to $663.6 million for the year ended December 31, 2014. The net cash flows used in investing activities for the year ended December 31, 2015 was comprised of $565.3 million used in the acquisition of the Chalmette refinery, capital expenditures totaling $354.0 million, expenditures for turnarounds of $53.6 million, and expenditures for other assets of $8."
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,Supply Agreement,"gram. Working Capital Working capital for PBF Energy at December 31, 2015 was $1,526.5 million, consisting of $3,022.0 million in total current assets and $1,495.5 million in total current liabilities. Working capital at December 31, 2014 was $803.8 million, consisting of $2,346.7 million in total current assets and $1,542.8 million in total current liabilities. Working capital has increased as a result of the cash proceeds from the issuance of the 2023 Senior Secured Notes. Crude and Feedstock Supply Agreements We have acquired crude oil for our Paulsboro and Delaware City refineries under supply agreements whereby Statoil generally purchased the crude oil requirements for each refinery on our behalf and under our direction. Our agreements with Statoil for Paulsboro and Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, for our purchases of cr"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"nsisting of $3,022.0 million in total current assets and $1,495.5 million in total current liabilities. Working capital at December 31, 2014 was $803.8 million, consisting of $2,346.7 million in total current assets and $1,542.8 million in total current liabilities. Working capital has increased as a result of the cash proceeds from the issuance of the 2023 Senior Secured Notes. Crude and Feedstock Supply Agreements We have acquired crude oil for our Paulsboro and Delaware City refineries under supply agreements whereby Statoil generally purchased the crude oil requirements for each refinery on our behalf and under our direction. Our agreements with Statoil for Paulsboro and Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, for our purchases of crude oil under our agreement with Saudi Aramco, similar to our purchases of other foreign waterborn"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"nd Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, for our purchases of crude oil under our agreement with Saudi Aramco, similar to our purchases of other foreign waterborne crudes, we posted letters of credit and arranged for shipment. We paid for the crude when we were invoiced and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"Aramco, similar to our purchases of other foreign waterborne crudes, we posted letters of credit and arranged for shipment. We paid for the crude when we were invoiced and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourc"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"der the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply 40,000 to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. Inventory Intermediation Agreements We entered into two separate Inventory Intermediation Agreements with J. Aron on June 26, 2013, which commenced upon the termination of the product offtake agreements with MSCG."
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"chases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply 40,000 to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. Inventory Intermediation Agreements We entered into two separate Inventory Intermediation Agreements with J. Aron on June 26, 2013, which commenced upon the termination of the product offtake agreements with MSCG. On May 29, 2015, we entered into amended and restated inventory intermediation agreements with J. Aron pursuant to which certain terms of the existing inventory"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"to our financial statements, “Item 8. Financial Statements and Supplementary Data.” Our agreements with Statoil for Paulsboro and Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, purchase obligations under ""Crude Supply and Inventory Intermediation Agreements"" include commitments to purchase crude oil from certain counterparties under supply agreements entered into to ensure adequate supplies of crude oil for our refineries. These obligations are based on aggregate minimum volume commitments at 2015 year end market prices. Payments under ""Other Supply and Capacity Agreements"" include contracts for the transportation of crude oil and supply of hydrogen, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, and contracts for pipeline capacity. We enter into these contracts to facilitate crude oil delive"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"Aron agrees to sell the Products back to Paulsboro refinery and Delaware City refinery as the Products are discharged out of the Refineries' tanks. J. Aron has the right to store the Products purchased in tanks under the A&R Intermediation Agreements and will retain these storage rights for the term of the agreements. PBF Holding will continue to market and sell the Products independently to third parties. Until December 31, 2015, our Delaware City refinery sold and purchased feedstocks under a supply agreement with Statoil. Statoil purchased the refinery’s production of certain feedstocks or purchased feedstocks from third parties on the refinery’s behalf. Legal title to the feedstocks was held by Statoil and the feedstocks were held in the refinery’s storage tanks until they were needed for further use in the refining process. At that time the feedstocks were drawn out of the storage tanks and purchased by us. These purchases and sales were settled monthly at the daily market prices related to those"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"fining process. At that time the feedstocks were drawn out of the storage tanks and purchased by us. These purchases and sales were settled monthly at the daily market prices related to those feedstocks. These transactions were considered to be made in the contemplation of each other and, accordingly, did not result in the recognition of a sale when title passed from the refinery to the counterparty. Inventory remained at cost and the net cash receipts resulted in a liability. The Statoil crude supply agreement with our Delaware City refinery terminated effective December 31, 2015, at which time we began to purchase from Statoil the feedstocks owned by them at that date that had been purchased on our behalf. The Statoil crude supply agreement with Paulsboro terminated effective March 31, 2013, at which time we began to purchase from Statoil the feedstocks owned by them at that date that had been purchased on our behalf. Inventory Inventories are carried at the lower of cost or market. The cost of crud"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"ed to be made in the contemplation of each other and, accordingly, did not result in the recognition of a sale when title passed from the refinery to the counterparty. Inventory remained at cost and the net cash receipts resulted in a liability. The Statoil crude supply agreement with our Delaware City refinery terminated effective December 31, 2015, at which time we began to purchase from Statoil the feedstocks owned by them at that date that had been purchased on our behalf. The Statoil crude supply agreement with Paulsboro terminated effective March 31, 2013, at which time we began to purchase from Statoil the feedstocks owned by them at that date that had been purchased on our behalf. Inventory Inventories are carried at the lower of cost or market. The cost of crude oil, feedstocks, blendstocks and refined products is determined under the LIFO method using the dollar value LIFO method with increments valued based on average cost during the year. The cost of supplies and other inventories is deter"
1534504_10K_2015_0001534504-16-000118.json,item_7,(?i)supply\s+agreement,supply agreement,"had been purchased on our behalf. Inventory Inventories are carried at the lower of cost or market. The cost of crude oil, feedstocks, blendstocks and refined products is determined under the LIFO method using the dollar value LIFO method with increments valued based on average cost during the year. The cost of supplies and other inventories is determined principally on the weighted average cost method. Our Delaware City refinery acquired a portion of its crude oil from Statoil under our crude supply agreement whereby we took title to the crude oil as it was delivered to our processing units. We had risk of loss while the Statoil inventory was in our storage tanks. We were obligated to purchase all of the crude oil held by Statoil on our behalf upon termination of the agreements. As a result of the purchase obligations, we recorded the inventory of crude oil and feedstocks in the refinery’s storage facilities. The purchase obligations contained derivatives that changed in value based on changes in co"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"Delaware City refinery. We currently fully source our own crude oil needs for our Toledo refinery. Prior to July 31, 2014, we had a crude oil acquisition agreement with a third party that expired on July 31, 2014. In connection with the Chalmette Acquisition we entered into a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. Tax Receivable Agreement In connection with our initial public offering, we entered into a tax receivable agreement pursuant to which we are required to pay the members of PBF LLC, who exchange their units for PBF Energy Class A common stock or whose units we purchase, approximately 85% of the cash savings in income taxes that we realize as a result of the increase in the tax basis of our i"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"management. Our intention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for the Paulsboro, Delaware City, Toledo, Chalmette and Torrance refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco, PDVSA and ExxonMobil. We have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at Paulsboro. We have a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. Additionally, we have a supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We believe purchases based on market prici"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"tte and Torrance refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco, PDVSA and ExxonMobil. We have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at Paulsboro. We have a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. Additionally, we have a supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our Paulsboro and Delaware City refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-C"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"als catalyst, which we are obligated to return or repurchase at fair market value on the lease termination dates. Interest Expense, net- Interest expense totaled $106.2 million for the year ended December 31, 2015, compared to $98.8 million for the year ended December 31, 2014, an increase of $7.4 million. This increase is mainly attributable to higher interest costs associated with the issuance of the PBFX Senior Notes in May 2015, partially offset by the termination of our crude and feedstock supply agreement with MSCG, effective July 31, 2014. Interest expense includes interest on long-term debt including the Senior Secured Notes, the PBFX Senior Notes and credit facilities, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreement with Statoil up to its expiration on December 31, 2015, financing costs associated with the Inventory Intermediation Agreements with J. Aron, letter of credit fees associ"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"ly attributable to higher interest costs associated with the issuance of the PBFX Senior Notes in May 2015, partially offset by the termination of our crude and feedstock supply agreement with MSCG, effective July 31, 2014. Interest expense includes interest on long-term debt including the Senior Secured Notes, the PBFX Senior Notes and credit facilities, costs related to the sale and leaseback of our precious metals catalyst, interest expense incurred in connection with our crude and feedstock supply agreement with Statoil up to its expiration on December 31, 2015, financing costs associated with the Inventory Intermediation Agreements with J. Aron, letter of credit fees associated with the purchase of certain crude oils, and the amortization of deferred financing costs. Income Tax Expense- PBF LLC is organized as a limited liability company and PBFX is a master limited partnership, both of which are treated as ""flow-through"" entities for federal income tax purposes and therefore are not subject to i"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,Supply Agreement,"hares under the Repurchase Program, and repurchases may be suspended or discontinued at any time without prior notice. Working Capital Working capital for PBF Energy at December 31, 2016 was $1,350.7 million, consisting of $3,407.3 million in total current assets and $2,056.5 million in total current liabilities. Working capital at December 31, 2015 was $1,526.5 million, consisting of $3,022.0 million in total current assets and $1,495.5 million in total current liabilities. Crude and Feedstock Supply Agreements We have acquired crude oil for our Paulsboro and Delaware City refineries under supply agreements whereby Statoil generally purchased the crude oil requirements for each refinery on our behalf and under our direction. Our agreements with Statoil for Paulsboro and Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, for our purchases of cr"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"ithout prior notice. Working Capital Working capital for PBF Energy at December 31, 2016 was $1,350.7 million, consisting of $3,407.3 million in total current assets and $2,056.5 million in total current liabilities. Working capital at December 31, 2015 was $1,526.5 million, consisting of $3,022.0 million in total current assets and $1,495.5 million in total current liabilities. Crude and Feedstock Supply Agreements We have acquired crude oil for our Paulsboro and Delaware City refineries under supply agreements whereby Statoil generally purchased the crude oil requirements for each refinery on our behalf and under our direction. Our agreements with Statoil for Paulsboro and Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, for our purchases of crude oil under our agreement with Saudi Aramco, similar to our purchases of other foreign waterborn"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"nd Delaware City were terminated effective March 31, 2013 and December 31, 2015, respectively, at which time we began to source Paulsboro’s and Delaware City's crude oil and feedstocks independently. Additionally, for our purchases of crude oil under our agreement with Saudi Aramco, similar to our purchases of other foreign waterborne crudes, we posted letters of credit and arranged for shipment. We paid for the crude when we were invoiced and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"Aramco, similar to our purchases of other foreign waterborne crudes, we posted letters of credit and arranged for shipment. We paid for the crude when we were invoiced and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourc"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"and the letters of credit were lifted. We had a similar supply agreement with MSCG, which was terminated effective July 31, 2014, to supply the crude oil requirements for our Toledo refinery, under which we took title to MSCG’s crude oil at certain interstate pipeline delivery locations. Payment for the crude oil under the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"der the Toledo supply agreement was due three days after it was processed by us or sold to third parties. We did not have to post letters of credit for these purchases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply 40,000 to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. Invento"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"chases and the Toledo supply agreement allowed us to price and pay for our crude oil as it was processed, which reduced the time we were exposed to market fluctuations. We recorded an accrued liability at each period-end for the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply 40,000 to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. Inventory Intermediation Agreements We entered into two separate Inventory Intermediation Agreements with J. Aron, which were amended and restated on May 29, 2015, expi"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"the amount we owed MSCG for the crude oil that we owned but had not processed. Subsequent to the term of the MSCG supply agreement, we have sourced all our Toledo crude oil needs independently, which has increased the volumes of crude oil we own. We have crude and feedstock supply agreements with PDVSA to supply 40,000 to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. Inventory Intermediation Agreements We entered into two separate Inventory Intermediation Agreements with J. Aron, which were amended and restated on May 29, 2015, expiring two years from the original expiry date of July 1, 2015, subject to certain early termination rights. In addition, the A&R Intermediation Agreements include one-year renewal clauses by mutual consent of both parties. Pur"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"gations to repurchase certain intermediates and refined products under separate inventory intermediation agreements with J. Aron as further explained in the Summary of Significant Accounting Policies, Inventories and Accrued Expenses footnotes to our financial statements, “Item 8. Financial Statements and Supplementary Data.” Additionally, purchase obligations under ""Crude Supply and Inventory Intermediation Agreements"" include commitments to purchase crude oil from certain counterparties under supply agreements entered into to ensure adequate supplies of crude oil for our refineries. These obligations are based on aggregate minimum volume commitments at 2016 year end market prices. Payments under ""Other Supply and Capacity Agreements"" include contracts for the transportation of crude oil and supply of hydrogen, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, and contracts for pipeline capacity. We enter into these contracts to facilitate crude oil delive"
1534504_10K_2016_0001534504-17-000017.json,item_7,(?i)supply\s+agreement,supply agreement,"s as inventories giving rise to the reserve are sold, and a new reserve is established. Such a reduction to cost of products sold could be significant if inventory values return to historical cost price levels. Additionally, further decreases in overall inventory values could result in additional charges to cost of products sold should the lower of cost or market inventory valuation reserve be increased. Our Delaware City refinery acquired a portion of its crude oil from Statoil under our crude supply agreement whereby we took title to the crude oil as it was delivered to our processing units. We had risk of loss while the Statoil inventory was in our storage tanks. We were obligated to purchase all of the crude oil held by Statoil on our behalf upon termination of the agreements. As a result of the purchase obligations, we recorded the inventory of crude oil and feedstocks in the refinery’s storage facilities. The purchase obligations contained derivatives that changed in value based on changes in co"
1534504_10K_2017_0001534504-18-000016.json,item_7,(?i)supply\s+agreement,supply agreement,"d on July 31, 2014. In connection with the Chalmette Acquisition we entered into a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. Tax Receivable Agreement In connection with our initial public offering, we entered into a Tax Receivable Agreement pursuant to which we are required to pay the members of PBF LLC, who exchange their units for PBF Energy Class A common stock or whose units we purchase, approximately 85% of the cash savings in income taxes that we realize as a result of the increase in the tax basis of our i"
1534504_10K_2017_0001534504-18-000016.json,item_7,(?i)supply\s+agreement,supply agreement,"above defined thresholds are to be approved by the senior management. Our intention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements with Saudi Aramco, PDVSA, ExxonMobil and others. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our Paulsboro and Delaware City refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of diff"
1534504_10K_2017_0001534504-18-000016.json,item_7,(?i)supply\s+agreement,Supply Agreement,"sting of $3,803.0 million in total current assets and $2,418.9 million in total current liabilities. Working capital at December 31, 2016 was $1,350.7 million, consisting of $3,407.3 million in total current assets and $2,056.5 million in total current liabilities. Working capital has slightly increased primarily as a result of positive earnings offset by capital expenditures, including turnaround costs, and dividend and distributions during the year ended December 31, 2017. Crude and Feedstock Supply Agreements Additionally, certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit and arrange for shipment. We pay for the crude when invoiced, at which time the letters of credit are lifted. We have crude and feedstock supply agreements with PDVSA to supply 40,000 bpd to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. We have not sourced crude oil under this arrangement since the thir"
1534504_10K_2017_0001534504-18-000016.json,item_7,(?i)supply\s+agreement,supply agreement,"primarily as a result of positive earnings offset by capital expenditures, including turnaround costs, and dividend and distributions during the year ended December 31, 2017. Crude and Feedstock Supply Agreements Additionally, certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit and arrange for shipment. We pay for the crude when invoiced, at which time the letters of credit are lifted. We have crude and feedstock supply agreements with PDVSA to supply 40,000 bpd to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. We have not sourced crude oil under this arrangement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be proc"
1534504_10K_2017_0001534504-18-000016.json,item_7,(?i)supply\s+agreement,supply agreement,"t which time the letters of credit are lifted. We have crude and feedstock supply agreements with PDVSA to supply 40,000 bpd to 60,000 bpd of crude oil that can be processed at any of our East and Gulf Coast refineries. We have not sourced crude oil under this arrangement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. Inventory Intermediation Agreements On May 4, 2017 and September 8, 2017, PBF Holding and its subsidiaries, DCR and PRC, entered into amendments to the A&R Intermediation Agreements with J. Aron, pursuant to which certain terms of the existing inventory intermediation agreements were amended, including, among other things, pricing and an extension of the terms. As a result of the amendments"
1534504_10K_2017_0001534504-18-000016.json,item_7,(?i)supply\s+agreement,supply agreement,"ions to repurchase certain intermediates and refined products under separate inventory intermediation agreements with J. Aron as further explained in “Note 2 - Summary of Significant Accounting Policies”, “Note 5 - Inventories” and Note 8 - Accrued Expenses” of our notes to the Consolidated Financial Statements. Additionally, purchase obligations under “Crude and Feedstock Supply and Inventory Intermediation Agreements” include commitments to purchase crude oil from certain counterparties under supply agreements entered into to ensure adequate supplies of crude oil for our refineries. These obligations are based on aggregate minimum volume commitments at 2017 year end market prices. Payments under “Other Supply and Capacity Agreements” include contracts for the transportation of crude oil and supply of hydrogen, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, and contracts for pipeline capacity. We enter into these contracts to facilitate crude oil delive"
1534504_10K_2018_0001534504-19-000012.json,item_7,(?i)supply\s+agreement,supply agreement,"Paulsboro refinery. In connection with the Chalmette Acquisition we entered into a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. Tax Receivable Agreement In connection with PBF Energy’s initial public offering, PBF Energy entered into a Tax Receivable Agreement pursuant to which PBF Energy is required to pay the members of PBF L"
1534504_10K_2018_0001534504-19-000012.json,item_7,(?i)supply\s+agreement,supply agreement,"above defined thresholds are to be approved by the senior management. Our intention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our Paulsboro and Delaware City refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. We have not sourced crude oil u"
1534504_10K_2018_0001534504-19-000012.json,item_7,(?i)supply\s+agreement,Supply Agreement,"consisting of $3,780.2 million in total current assets and $2,428.5 million in total current liabilities. Working capital has decreased during the year ended December 31, 2018 primarily as a result of capital expenditures, including turnaround costs, PBFX acquisitions and dividend and distributions, partially offset by positive earnings, proceeds from the August 2018 Equity Offering, proceeds from the PBFX Registered Direct Offering, and proceeds from the Torrance land sale. Crude and Feedstock Supply Agreements Certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit and arrange for shipment. We pay for the crude when invoiced, at which time the letters of credit are lifted. We have a contract with Saudi Aramco pursuant to which we have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at our Paulsboro refinery. In connection with the Chalmette Acquisition we entered into a cont"
1534504_10K_2018_0001534504-19-000012.json,item_7,(?i)supply\s+agreement,supply agreement,"Paulsboro refinery. In connection with the Chalmette Acquisition we entered into a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. Inventory Intermediation Agreements On May 4, 2017 and September 8, 2017, PBF Holding and its subsidiaries, DCR and PRC, entered into amendments to the Inventory Intermediation Agreements with J. Aron,"
1534504_10K_2018_0001534504-19-000012.json,item_7,(?i)supply\s+agreement,supply agreement,"gations to repurchase certain intermediates and refined products under separate inventory intermediation agreements with J. Aron as further explained in “Note 2 - Summary of Significant Accounting Policies”, “Note 5 - Inventories” and “Note 8 - Accrued Expenses” of our Notes to Consolidated Financial Statements. Additionally, purchase obligations under “Crude and Feedstock Supply and Inventory Intermediation Agreements” include commitments to purchase crude oil from certain counterparties under supply agreements entered into to ensure adequate supplies of crude oil for our refineries. These obligations are based on aggregate minimum volume commitments at 2018 year end market prices. Payments under “Other Supply and Capacity Agreements” include contracts for the transportation of crude oil and supply of hydrogen, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, and contracts for pipeline capacity. We enter into these contracts to facilitate crude oil delive"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"with the Chalmette Acquisition we entered into a contract with PDVSA for the supply of 40,000 to 60,000 bpd of crude oil that can be processed at any of our East or Gulf Coast refineries. We have not sourced crude oil under this agreement since 2017 as PDVSA has suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. Tax Receivable Agreement In connection with PBF Energy’s initial public offering, PBF Energy entered into a Tax Receivable Agreement pursuant to which PBF Energy is required to pay the members of PBF L"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"above defined thresholds are to be approved by the senior management. Our intention is to trade only with recognized creditworthy third parties. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our Paulsboro and Delaware City refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. We have not sourced crude oil u"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,Supply Agreement,"nd $2,539.8 million in total current liabilities. PBF LLC’s working capital at December 31, 2018 was $1,081.5 million, consisting of $3,235.1 million in total current assets and $2,153.6 million in total current liabilities. Working capital has increased during the year ended December 31, 2019 primarily as a result of earnings and the change in our LCM inventory adjustment, partially offset by capital expenditures, including turnaround costs, and dividends and distributions. Crude and Feedstock Supply Agreements Certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit and arrange for shipment. We pay for the crude when invoiced, at which time the letters of credit are lifted. We have a contract with Saudi Aramco pursuant to which we have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at our Paulsboro refinery. In connection with the Chalmette Acquisition we entered into a cont"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"f Coast refineries. We have not sourced crude oil under this agreement since 2017 when PDVSA suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. Notwithstanding the suspension, the recent U.S. government sanctions imposed against PDVSA and Venezuela would prevent us from purchasing crude oil under this agreement. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We have entered into various five-year crude supply agreements with Shell Oil Products for approximately 150,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery operations."
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"vent us from purchasing crude oil under this agreement. In connection with the closing of the Torrance Acquisition, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We have entered into various five-year crude supply agreements with Shell Oil Products for approximately 150,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery operations. In addition, we have entered into certain offtake agreements for our West Coast system with the same counterparty for clean products with varying terms up to 15 years. Inventory Intermediation Agreements We entered into Inventory Intermediation Agreements with J. Aron, to support the operations of the East Coast Refineries. The Inventory Intermediation Agree"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"se obligations We have obligations to repurchase the J. Aron Products under the Inventory Intermediation Agreements with J. Aron as further explained in “Note 2 - Summary of Significant Accounting Policies”, “Note 5 - Inventories” and “Note 8 - Accrued Expenses” of our Notes to Consolidated Financial Statements. Additionally, purchase obligations under “Crude and Feedstock Supply and Inventory Intermediation Agreements” include commitments to purchase crude oil from certain counterparties under supply agreements entered into to ensure adequate supplies of crude oil for our refineries. These obligations are based on aggregate minimum volume commitments at 2019 year end market prices. Payments under “Other Supply and Capacity Agreements” include contracts for the transportation of crude oil and supply of hydrogen, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, and contracts for pipeline capacity. We enter into these contracts to facilitate crude oil delive"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"ensure an adequate supply of energy or essential services to support our refinery operations. Substantially all of these obligations are based on fixed prices. Certain agreements include fixed or minimum volume requirements, while others are based on our actual usage. The amounts included in this table are based on fixed or minimum quantities to be purchased and the fixed or estimated costs based on market conditions as of December 31, 2019. The amounts included in this table exclude our crude supply agreement with PDVSA. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. (d) Environmental obligations In connection with certain of our refinery and logistics acquisitions, we have assumed certain environmental remediation obligations to address matters that were outstanding at the time of such acquisitions. I"
1534504_10K_2019_0001534504-20-000030.json,item_7,(?i)supply\s+agreement,supply agreement,"and eliminates in consolidation for PBF Energy. Martinez Acquisition The Contractual Obligations and Commitments table as of December 31, 2019 above and its related notes (a) through (h) above do not include any contractual payment obligations related to the Martinez refinery and related logistics assets that were acquired on February 1, 2020. Such contractual payment obligations assumed include: (i) leases and related rental commitments, (ii) purchase obligations, including crude and feedstock supply agreements and other supply and capacity agreements, (iii) environmental obligations and (iv) earn-out payments based on certain earnings thresholds of the Martinez refinery (as set forth in the Sale and Purchase Agreement), for a period of up to four years following the closing. Tax Distributions PBF LLC is required to make periodic tax distributions to the members of PBF LLC, including PBF Energy, pro rata in accordance with their respective percentage interests for such period (as determined under the"
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"ransition services agreement through which Air Products will exclusively supply hydrogen, steam, carbon dioxide and other products (the “Products”) to the Martinez, Torrance and Delaware City refineries for a specified period (not expected to exceed 18 months). The transition services agreement also requires certain maintenance and operating activities to be provided by PBF Holding, for which we will be reimbursed, during the term of the agreement. In August 2020, the parties executed long-term supply agreements pursuant to which Air Products will supply the Products for a term of fifteen years at these same refineries. Debt and Credit Facilities Credit Ratings During the fourth quarter of 2020, each of our credit rating agencies downgraded our corporate family rating as well as our unsecured and secured notes ratings, with all ratings on negative outlook as the refining sector continues to experience weak refining margins due to the COVID-19 pandemic and related negative demand impact. As a result of"
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"debts by obtaining security such as guarantees or letters of credit. We continually monitor our market risk exposure, including the impact and developments related to the COVID-19 pandemic and the related governmental and consumer responses which have introduced significant volatility in the financial markets. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our East Coast refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. We have not sourced crude oil under our crude su"
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,Supply Agreement,"proximately $1,374.1 million, consisting of $3,865.2 million in total current assets and $2,491.1 million in total current liabilities. PBF LLC’s working capital at December 31, 2019 was $1,281.7 million, consisting of $3,821.5 million in total current assets and $2,539.8 million in total current liabilities. Working capital has increased during the year ended December 31, 2020 primarily as a result of proceeds from financing activities, partially offset by operating losses. Crude and Feedstock Supply Agreements Certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit, if open terms are exceeded, and arrange for shipment. We pay for the crude when invoiced, at which time any applicable letters of credit are lifted. We have a contract with Saudi Aramco pursuant to which we have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at our Paulsboro refinery. In connection with the acqu"
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"es. We have not sourced crude oil under this agreement since 2017 when PDVSA suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. Notwithstanding the suspension, the recent U.S. government sanctions imposed against PDVSA and Venezuela would prevent us from purchasing crude oil under this agreement. In connection with the closing of the acquisition of the Torrance refinery, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We have entered into various five-year crude supply agreements with Shell Oil Products for approximately 145,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery operations."
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"chasing crude oil under this agreement. In connection with the closing of the acquisition of the Torrance refinery, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We have entered into various five-year crude supply agreements with Shell Oil Products for approximately 145,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery operations. In addition, we have entered into certain offtake agreements for our West Coast system with the same counterparty for clean products with varying terms up to 15 years. Inventory Intermediation Agreements We entered into Inventory Intermediation Agreements with J. Aron, to support the operations of the Delaware City and Paulsboro refineries. The Inventory Int"
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"se obligations We have obligations to repurchase the J. Aron Products under the Inventory Intermediation Agreements with J. Aron as further explained in “Note 2 - Summary of Significant Accounting Policies”, “Note 6 - Inventories” and “Note 9 - Accrued Expenses” of our Notes to Consolidated Financial Statements. Additionally, purchase obligations under “Crude and Feedstock Supply and Inventory Intermediation Agreements” include commitments to purchase crude oil from certain counterparties under supply agreements entered into to ensure adequate supplies of crude oil for our refineries. These obligations are based on aggregate minimum volume commitments at 2020 year end market prices. Payments under “Other Supply and Capacity Agreements” include contracts for the transportation of crude oil and supply of hydrogen, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, and contracts for pipeline capacity. We enter into these contracts to facilitate crude oil delive"
1534504_10K_2020_0001534504-21-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"ket conditions as of December 31, 2020. Payments under “AB32 Settlement Obligations” include future obligations to repurchase AB32 credits previously sold to third parties and will be used to settle our AB32 liability. Liabilities related to these obligations are included in “Accrued expenses” in the Consolidated Balance Sheets at December 31, 2020. See “Note 9 - Accrued Expenses” of our Notes to Consolidated Financial Statements for details. The amounts included in this table exclude our crude supply agreement with PDVSA. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. (d) Environmental obligations In connection with certain of our refinery and logistics acquisitions, we have assumed certain environmental remediation obligations to address matters that were outstanding at the time of such acquisitions. I"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"e railcars identified within the amended lease, all of which were idled and out of service as of December 31, 2020. Sale of Hydrogen Plants On April 17, 2020, we closed on the sale of five hydrogen plants to Air Products and Chemicals, Inc. (“Air Products”) in a sale-leaseback transaction for gross cash proceeds of $530.0 million and recognized a gain of $471.1 million. In connection with the sale, we entered into a transition services agreement, which was followed by the execution of long-term supply agreements in August 2020, through which Air Products will exclusively supply hydrogen, steam, carbon dioxide and other products to the Martinez, Torrance and Delaware City refineries for a term of fifteen years. Martinez Acquisition We acquired the Martinez refinery and related logistics assets from Shell Oil Products on February 1, 2020 for an aggregate purchase price of $1,253.4 million (the “Martinez Acquisition”), including final working capital of $216.1 million and the obligation to make certain p"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"debts by obtaining security such as guarantees or letters of credit. We continually monitor our market risk exposure, including the impact and developments related to the COVID-19 pandemic and the related governmental and consumer responses which have introduced significant volatility in the financial markets. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our East Coast refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. We have not sourced crude oil under our crude su"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,Supply Agreement,"million, consisting of $3,867.4 million in total current assets and $2,451.5 million in total current liabilities. PBF LLC’s working capital at December 31, 2021 was approximately $1,385.6 million, consisting of $5,197.5 million in total current assets and $3,811.9 million in total current liabilities. PBF LLC’s working capital at December 31, 2020 was $1,374.1 million, consisting of $3,865.2 million in total current assets and $2,491.1 million in total current liabilities. Crude and Feedstock Supply Agreements Certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit, if open terms are exceeded, and arrange for shipment. We pay for the crude when invoiced, at which time any applicable letters of credit are lifted. We have a contract with Saudi Aramco pursuant to which we have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at our Paulsboro refinery. In connection with the acqu"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"st refineries. We have not sourced crude oil under this agreement since 2017 when PDVSA suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. Notwithstanding the suspension, the U.S. government sanctions imposed against PDVSA and Venezuela prevented us from purchasing crude oil under this agreement. In connection with the closing of the acquisition of the Torrance refinery, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We currently have various crude supply agreements with terms through 2025 with Shell Oil Products for approximately 145,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery o"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"d us from purchasing crude oil under this agreement. In connection with the closing of the acquisition of the Torrance refinery, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We currently have various crude supply agreements with terms through 2025 with Shell Oil Products for approximately 145,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery operations. In addition, we have certain offtake agreements for our West Coast system with the same counterparty for clean products with varying terms up to 15 years. Inventory Intermediation Agreement On October 25, 2021, PBF Holding and its subsidiaries, the PBF Entities, entered into the Third Inventory Intermediation Agreement with J. Aron, p"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"es and other rental-related commitments in the table above. (c) Purchase obligations We have obligations to repurchase the J. Aron Products under the Third Inventory Intermediation Agreement with J. Aron as further explained in “Note 2 - Summary of Significant Accounting Policies”, “Note 6 - Inventories” and “Note 9 - Accrued Expenses” of our Notes to Consolidated Financial Statements. Additionally, purchase obligations include commitments to purchase crude oil from certain counterparties under supply agreements, contracts for the transportation of crude oil and supply of hydrogen, nitrogen, oxygen, chemicals, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, contracts for pipeline capacity, and forward purchase commitments to acquire AB 32, RINs or LCFS credits from third parties. The amounts included in this table exclude our crude supply agreement with PDVSA. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has"
1534504_10K_2021_0001534504-22-000007.json,item_7,(?i)supply\s+agreement,supply agreement,"ditionally, purchase obligations include commitments to purchase crude oil from certain counterparties under supply agreements, contracts for the transportation of crude oil and supply of hydrogen, nitrogen, oxygen, chemicals, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, contracts for pipeline capacity, and forward purchase commitments to acquire AB 32, RINs or LCFS credits from third parties. The amounts included in this table exclude our crude supply agreement with PDVSA. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. (d) Environmental obligations In connection with certain of our refinery and logistics acquisitions, we have assumed certain environmental remediation obligations to address matters that were outstanding at the time of such acquisitions. I"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"e railcars identified within the amended lease, all of which were idled and out of service as of December 31, 2020. Sale of Hydrogen Plants On April 17, 2020, we closed on the sale of five hydrogen plants to Air Products and Chemicals, Inc. (“Air Products”) in a sale-leaseback transaction for gross cash proceeds of $530.0 million and recognized a gain of $471.1 million. In connection with the sale, we entered into a transition services agreement, which was followed by the execution of long-term supply agreements in August 2020, through which Air Products will exclusively supply hydrogen, steam, carbon dioxide and other products to the Martinez, Torrance and Delaware City refineries for a term of fifteen years. Martinez Acquisition We acquired the Martinez refinery and related logistics assets from Shell Oil Products on February 1, 2020 for an aggregate purchase price of $1,253.4 million (the “Martinez Acquisition”), including final working capital of $216.1 million and the obligation to make certain p"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,supply agreement,". In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. We continually monitor our market risk exposure for market developments which could introduce significant volatility in the financial markets. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our East Coast refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. We have not sourced crude oil under our crude su"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,Supply Agreement,"million, consisting of $5,199.2 million in total current assets and $3,759.7 million in total current liabilities. PBF LLC’s working capital at December 31, 2022 was approximately $1,297.5 million, consisting of $6,544.5 million in total current assets and $5,247.0 million in total current liabilities. PBF LLC’s working capital at December 31, 2021 was $1,385.6 million, consisting of $5,197.5 million in total current assets and $3,811.9 million in total current liabilities. Crude and Feedstock Supply Agreements Certain of our purchases of crude oil under our agreements with foreign national oil companies require that we post letters of credit, if open terms are exceeded, and arrange for shipment. We pay for the crude when invoiced, at which time any applicable letters of credit are lifted. We have a contract with Saudi Aramco pursuant to which we have been purchasing up to approximately 100,000 bpd of crude oil from Saudi Aramco that is processed at our Paulsboro refinery. In connection with the acqu"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"st refineries. We have not sourced crude oil under this agreement since 2017 when PDVSA suspended deliveries due to the parties’ inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. Notwithstanding the suspension, the U.S. government sanctions imposed against PDVSA and Venezuela prevented us from purchasing crude oil under this agreement. In connection with the closing of the acquisition of the Torrance refinery, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We currently have various crude supply agreements with terms through 2025 with Shell Oil Products for approximately 145,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery o"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"d us from purchasing crude oil under this agreement. In connection with the closing of the acquisition of the Torrance refinery, we entered into a crude supply agreement with ExxonMobil for approximately 60,000 bpd of crude oil that can be processed at our Torrance refinery. We currently purchase all of our crude and feedstock needs independently from a variety of suppliers on the spot market or through term agreements for our Delaware City and Toledo refineries. We currently have various crude supply agreements with terms through 2025 with Shell Oil Products for approximately 145,000 bpd, in the aggregate, to support our West Coast and Mid-Continent refinery operations. In addition, we have certain offtake agreements for our West Coast system with the same counterparty for clean products with varying terms up to 15 years. Inventory Intermediation Agreement On October 25, 2021, PBF Holding and the PBF Entities, entered into the Third Inventory Intermediation Agreement with J. Aron, pursuant to which t"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"inance lease obligations. We also enter into contractual obligations with third parties for the right to use property for locating pipelines and accessing certain of our assets (also referred to as land easements) in the normal course of business. Our obligations regarding such land easements are included within Leases and other rental-related commitments in the table above. (c) Purchase obligations Purchase obligations include commitments to purchase crude oil from certain counterparties under supply agreements, contracts for the transportation of crude oil and supply of hydrogen, nitrogen, oxygen, chemicals, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, contracts for pipeline capacity, and forward purchase commitments to acquire AB 32, RINs or LCFS credits from third parties. Additionally, we have obligations to repurchase the J. Aron Products under the Third Inventory Intermediation Agreement with J. Aron as further explained in “Note 2 - Summary of"
1534504_10K_2022_0001534504-23-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"er, contracts for pipeline capacity, and forward purchase commitments to acquire AB 32, RINs or LCFS credits from third parties. Additionally, we have obligations to repurchase the J. Aron Products under the Third Inventory Intermediation Agreement with J. Aron as further explained in “Note 2 - Summary of Significant Accounting Policies”, “Note 4 - Inventories” and “Note 7 - Accrued Expenses” of our Notes to Consolidated Financial Statements. The amounts included in this table exclude our crude supply agreement with PDVSA. We have not sourced crude oil under this agreement since the third quarter of 2017 as PDVSA has suspended deliveries due to the parties inability to agree to mutually acceptable payment terms and because of U.S. government sanctions against PDVSA. (d) Environmental obligations In connection with certain of our refinery and logistics acquisitions, we have assumed certain environmental remediation obligations to address matters that were outstanding at the time of such acquisitions. I"
1534504_10K_2023_0001534504-24-000011.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"2023, 2022 and 2021, gasoline and distillates accounted for 88.7%, 88.5% and 86.2% of our revenues, respectively. Customers We sell a variety of refined products to a diverse customer base. The majority of our refined products are primarily sold through short-term contracts or on the spot market. In addition, we have product offtake arrangements for a portion of our clean products. For the years ended December 31, 2023 and December 31, 2022 only one customer, Shell plc (“Shell”), accounted for 10% or more of our revenues (approximately 14% and 14%, respectively). As of December 31, 2023 and December 31, 2022, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 19% and 19%, respectively). Seasonality Traditionally, demand for gasoline and diesel is generally higher during the summer months than during the winter months due to seasonal increases in highway traffic and construction work. Decreased demand during the winter months can lower gasoline and diesel p"
1534504_10K_2023_0001534504-24-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"d December 31, 2023, 2022 and 2021, gasoline and distillates accounted for 88.7%, 88.5% and 86.2% of our revenues, respectively. Customers We sell a variety of refined products to a diverse customer base. The majority of our refined products are primarily sold through short-term contracts or on the spot market. In addition, we have product offtake arrangements for a portion of our clean products. For the years ended December 31, 2023 and December 31, 2022 only one customer, Shell plc (“Shell”), accounted for 10% or more of our revenues (approximately 14% and 14%, respectively). As of December 31, 2023 and December 31, 2022, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 19% and 19%, respectively). Seasonality Traditionally, demand for gasoline and diesel is generally higher during the summer months than during the winter months due to seasonal increases in highway traffic and construction work. Decreased demand during the winter months can lowe"
1534504_10K_2023_0001534504-24-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"f refined products to a diverse customer base. The majority of our refined products are primarily sold through short-term contracts or on the spot market. In addition, we have product offtake arrangements for a portion of our clean products. For the years ended December 31, 2023 and December 31, 2022 only one customer, Shell plc (“Shell”), accounted for 10% or more of our revenues (approximately 14% and 14%, respectively). As of December 31, 2023 and December 31, 2022, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 19% and 19%, respectively). Seasonality Traditionally, demand for gasoline and diesel is generally higher during the summer months than during the winter months due to seasonal increases in highway traffic and construction work. Decreased demand during the winter months can lower gasoline and diesel prices. However, due to global supply disruptions, the effects of seasonality on our operating results have been less impactful in recen"
1534504_10K_2023_0001534504-24-000011.json,item_1,(?i)supply\s+agreement,supply agreement,"00 Vacuum Distillation Unit 102,000 Fluid Catalytic Cracking Unit 72,000 Hydrotreating Units 268,000 Hydrocracking Unit 42,900 Alkylation Unit 12,500 Delayed Coking Unit 25,500 Flexi Coking Unit 22,500 Isomerization Unit 15,000 Feedstocks and Supply Arrangements. We source our crude oil and feedstock needs for the Martinez refinery through connections to the Crimson San Pablo Bay Pipeline, and via waterborne deliveries, primarily through short-term and spot market agreements. We also have crude supply agreements with Shell Trading (US) Company (primarily serving the Martinez refinery) for up to 95,000 bpd, which, upon expiration of one of the agreements in early 2024, will be reduced to up to approximately 65,000 bpd, through early 2025. Refined Product Yield and Distribution. We entered into certain offtake agreements for our West Coast system with Shell Oil Products for clean products with varying terms up to 15 years. We currently market and sell all of our refined products independently to a varie"
1534504_10K_2023_0001534504-24-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"s. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. We continually monitor our market risk exposure for market developments that could introduce significant volatility in the financial markets. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our East Coast refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. Currently, crude oil delivered by rail is consum"
1534504_10K_2023_0001534504-24-000011.json,item_7,(?i)supply\s+agreement,Supply Agreement,"er the Repurchase Program, and repurchases could be suspended or discontinued at any time without prior notice. Working Capital Our working capital at December 31, 2023 was approximately $2,379.3 million, consisting of $6,596.6 million in total current assets and $4,217.3 million in total current liabilities. Our working capital at December 31, 2022 was $1,345.6 million, consisting of $6,546.3 million in total current assets and $5,200.7 million in total current liabilities. Crude and Feedstock Supply Agreements We currently purchase all of our crude and feedstock needs from various suppliers, primarily through short-term and spot market agreements. We also have a crude supply agreement with Saudi Aramco, the term of which is currently year to year, for up to approximately 100,000 bpd that is processed at the Paulsboro refinery and crude supply agreements with Shell Trading (US) Company (primarily serving our Martinez refinery) for up to approximately 95,000 bpd, which, upon expiration of one of the a"
1534504_10K_2023_0001534504-24-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"imately $2,379.3 million, consisting of $6,596.6 million in total current assets and $4,217.3 million in total current liabilities. Our working capital at December 31, 2022 was $1,345.6 million, consisting of $6,546.3 million in total current assets and $5,200.7 million in total current liabilities. Crude and Feedstock Supply Agreements We currently purchase all of our crude and feedstock needs from various suppliers, primarily through short-term and spot market agreements. We also have a crude supply agreement with Saudi Aramco, the term of which is currently year to year, for up to approximately 100,000 bpd that is processed at the Paulsboro refinery and crude supply agreements with Shell Trading (US) Company (primarily serving our Martinez refinery) for up to approximately 95,000 bpd, which, upon expiration of one of the agreements in early 2024, will be reduced to up to approximately 65,000 bpd, through early 2025. Inventory Intermediation Agreement On July 31, 2023, we early terminated the Third"
1534504_10K_2023_0001534504-24-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"2 was $1,345.6 million, consisting of $6,546.3 million in total current assets and $5,200.7 million in total current liabilities. Crude and Feedstock Supply Agreements We currently purchase all of our crude and feedstock needs from various suppliers, primarily through short-term and spot market agreements. We also have a crude supply agreement with Saudi Aramco, the term of which is currently year to year, for up to approximately 100,000 bpd that is processed at the Paulsboro refinery and crude supply agreements with Shell Trading (US) Company (primarily serving our Martinez refinery) for up to approximately 95,000 bpd, which, upon expiration of one of the agreements in early 2024, will be reduced to up to approximately 65,000 bpd, through early 2025. Inventory Intermediation Agreement On July 31, 2023, we early terminated the Third Inventory Intermediation Agreement with J. Aron. In conjunction with the early termination, we made an aggregate settlement payment of $268.0 million for the inventory pre"
1534504_10K_2023_0001534504-24-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"inance lease obligations. We also enter into contractual obligations with third parties for the right to use property for locating pipelines and accessing certain of our assets (also referred to as land easements) in the normal course of business. Our obligations regarding such land easements are included within Leases and other rental-related commitments in the table above. (c) Purchase obligations Purchase obligations include commitments to purchase crude oil from certain counterparties under supply agreements, contracts for the transportation of crude oil and supply of hydrogen, nitrogen, oxygen, chemicals, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, contracts for pipeline capacity, and forward purchase commitments to acquire AB 32, RINs or LCFS credits from third parties. (d) Environmental obligations In connection with certain of our refinery and logistics acquisitions, we have assumed certain environmental remediation obligations to address matt"
1534504_10K_2024_0001534504-25-000011.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"2024, 2023 and 2022, gasoline and distillates accounted for 86.5%, 88.7% and 88.5% of our revenues, respectively. Customers We sell a variety of refined products to a diverse customer base. The majority of our refined products are primarily sold through short-term contracts or on the spot market. In addition, we have product offtake arrangements for a portion of our clean products. For the years ended December 31, 2024 and December 31, 2023 only one customer, Shell plc (“Shell”), accounted for 10% or more of our revenues (approximately 13% and 14%, respectively). As of December 31, 2024 and December 31, 2023, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 18% and 19%, respectively). Seasonality Traditionally, demand for gasoline and diesel is generally higher during the summer months than during the winter months due to seasonal increases in highway traffic and construction work. Decreased demand during the winter months can lower gasoline and diesel p"
1534504_10K_2024_0001534504-25-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"d December 31, 2024, 2023 and 2022, gasoline and distillates accounted for 86.5%, 88.7% and 88.5% of our revenues, respectively. Customers We sell a variety of refined products to a diverse customer base. The majority of our refined products are primarily sold through short-term contracts or on the spot market. In addition, we have product offtake arrangements for a portion of our clean products. For the years ended December 31, 2024 and December 31, 2023 only one customer, Shell plc (“Shell”), accounted for 10% or more of our revenues (approximately 13% and 14%, respectively). As of December 31, 2024 and December 31, 2023, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 18% and 19%, respectively). Seasonality Traditionally, demand for gasoline and diesel is generally higher during the summer months than during the winter months due to seasonal increases in highway traffic and construction work. Decreased demand during the winter months can lowe"
1534504_10K_2024_0001534504-25-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"f refined products to a diverse customer base. The majority of our refined products are primarily sold through short-term contracts or on the spot market. In addition, we have product offtake arrangements for a portion of our clean products. For the years ended December 31, 2024 and December 31, 2023 only one customer, Shell plc (“Shell”), accounted for 10% or more of our revenues (approximately 13% and 14%, respectively). As of December 31, 2024 and December 31, 2023, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 18% and 19%, respectively). Seasonality Traditionally, demand for gasoline and diesel is generally higher during the summer months than during the winter months due to seasonal increases in highway traffic and construction work. Decreased demand during the winter months can lower gasoline and diesel prices. Competition The refining business is very competitive. We compete directly with various other refining companies on the East, Gu"
1534504_10K_2024_0001534504-25-000011.json,item_1,(?i)supply\s+agreement,supply agreement,"00 Vacuum Distillation Unit 102,000 Fluid Catalytic Cracking Unit 72,000 Hydrotreating Units 268,000 Hydrocracking Unit 42,900 Alkylation Unit 12,500 Delayed Coking Unit 25,500 Flexi Coking Unit 22,500 Isomerization Unit 15,000 Feedstocks and Supply Arrangements. We source our crude oil and feedstock needs for the Martinez refinery through connections to the Crimson San Pablo Bay Pipeline, and via waterborne deliveries, primarily through short-term and spot market agreements. We also have crude supply agreements with Shell Trading (US) Company (primarily serving the Martinez refinery) for up to 65,000 bpd, through 2026. Refined Product Yield and Distribution. We entered into certain offtake agreements for our West Coast system with Shell Oil Products for clean products with varying terms up to 15 years. We currently market and sell all of our refined products independently to a variety of customers either on the spot market or through term agreements. Tankage Capacity. Martinez has a total tankage cap"
1534504_10K_2024_0001534504-25-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"s. In addition, receivable balances are monitored on an ongoing basis. We also limit the risk of bad debts by obtaining security such as guarantees or letters of credit. We continually monitor our market risk exposure for market developments that could introduce significant volatility in the financial markets. Other Factors We currently source our crude oil for our refineries on a global basis through a combination of market purchases and short-term purchase contracts, and through our crude oil supply agreements. We believe purchases based on market pricing has given us flexibility in obtaining crude oil at lower prices and on a more accurate “as needed” basis. Since our East Coast refineries access their crude slates from the Delaware River via ship or barge and through our rail facilities at Delaware City, these refineries have the flexibility to purchase crude oils from the Mid-Continent and Western Canada, as well as a number of different countries. Currently, crude oil delivered by rail is consum"
1534504_10K_2024_0001534504-25-000011.json,item_7,(?i)supply\s+agreement,Supply Agreement,"nder the Repurchase Program, and repurchases could be suspended or discontinued at any time without prior notice. Working Capital Our working capital at December 31, 2024 was approximately $917.8 million, consisting of $4,543.9 million in total current assets and $3,626.1 million in total current liabilities. Our working capital at December 31, 2023 was $2,379.3 million, consisting of $6,596.6 million in total current assets and $4,217.3 million in total current liabilities. Crude and Feedstock Supply Agreements We currently purchase all of our crude and feedstock needs from various suppliers, primarily through short-term and spot market agreements. We also have a crude supply agreement with Saudi Aramco, the term of which is currently year to year, for up to approximately 100,000 bpd that is processed at the Paulsboro refinery and crude supply agreements with Shell Trading (US) Company (primarily serving our Martinez refinery) for up to approximately 65,000 bpd, through 2026. Capital Spending Capital"
1534504_10K_2024_0001534504-25-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"oximately $917.8 million, consisting of $4,543.9 million in total current assets and $3,626.1 million in total current liabilities. Our working capital at December 31, 2023 was $2,379.3 million, consisting of $6,596.6 million in total current assets and $4,217.3 million in total current liabilities. Crude and Feedstock Supply Agreements We currently purchase all of our crude and feedstock needs from various suppliers, primarily through short-term and spot market agreements. We also have a crude supply agreement with Saudi Aramco, the term of which is currently year to year, for up to approximately 100,000 bpd that is processed at the Paulsboro refinery and crude supply agreements with Shell Trading (US) Company (primarily serving our Martinez refinery) for up to approximately 65,000 bpd, through 2026. Capital Spending Capital spending was $1,008.3 million for the year ended December 31, 2024 and was primarily comprised of annual maintenance and turnaround costs at our East Coast, Mid-Continent, and We"
1534504_10K_2024_0001534504-25-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"3 was $2,379.3 million, consisting of $6,596.6 million in total current assets and $4,217.3 million in total current liabilities. Crude and Feedstock Supply Agreements We currently purchase all of our crude and feedstock needs from various suppliers, primarily through short-term and spot market agreements. We also have a crude supply agreement with Saudi Aramco, the term of which is currently year to year, for up to approximately 100,000 bpd that is processed at the Paulsboro refinery and crude supply agreements with Shell Trading (US) Company (primarily serving our Martinez refinery) for up to approximately 65,000 bpd, through 2026. Capital Spending Capital spending was $1,008.3 million for the year ended December 31, 2024 and was primarily comprised of annual maintenance and turnaround costs at our East Coast, Mid-Continent, and West Coast refineries. Capital spending also included costs associated with safety related enhancements and facility improvements at our refineries and logistics assets. We"
1534504_10K_2024_0001534504-25-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"inance lease obligations. We also enter into contractual obligations with third parties for the right to use property for locating pipelines and accessing certain of our assets (also referred to as land easements) in the normal course of business. Our obligations regarding such land easements are included within Leases and other rental-related commitments in the table above. (c) Purchase obligations Purchase obligations include commitments to purchase crude oil from certain counterparties under supply agreements, contracts for the transportation of crude oil and supply of hydrogen, nitrogen, oxygen, chemicals, steam, or natural gas to certain of our refineries, contracts for the treatment of wastewater, contracts for pipeline capacity, and forward purchase commitments to acquire AB 32, RINs or LCFS credits from third parties. (d) Environmental obligations In connection with certain of our refinery and logistics acquisitions, we have assumed certain environmental remediation obligations to address matt"
1539838_10K_2014_0001539838-15-000005.json,item_1,(?i)major\s+customer,major customer,"and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). For the year ended December 31, 2012, three purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (53%); Occidental Energy Marketing, Inc. (16%); and Andrews Oil Buyers, Inc. (10%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, based on the current demand for oil and natural gas, and the availability of other purchasers, we believe that the loss of any one or all of our major purchasers would not have a material adverse effect on our financial condition and results of operations, as crude oil and natural gas are fungible products with well-established markets and num"
1539838_10K_2014_0001539838-15-000005.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"tle opinions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). For the year ended December 31, 2012, three purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (53%); Occidental Energy Marketing, Inc. (16%); and Andrews Oil Buyers, Inc. (10%). No other customer accounted for more than 10% of our"
1539838_10K_2014_0001539838-15-000005.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"t materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). For the year ended December 31, 2012, three purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (53%); Occidental Energy Marketing, Inc. (16%); and Andrews Oil Buyers, Inc. (10%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financia"
1539838_10K_2014_0001539838-15-000005.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"customers, as is customary in the exploration, development and production business. For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). For the year ended December 31, 2012, three purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (53%); Occidental Energy Marketing, Inc. (16%); and Andrews Oil Buyers, Inc. (10%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, based on the current demand for oil and natural gas, and the availability of other purchasers, we believe that the loss of any one or"
1539838_10K_2014_0001539838-15-000005.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"ur revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). For the year ended December 31, 2012, three purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (53%); Occidental Energy Marketing, Inc. (16%); and Andrews Oil Buyers, Inc. (10%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, based on the current demand for oil and natural gas, and the availability of other purchasers, we believe that the loss of any one or all of our major purchasers would not have a material adverse effect on our financial condition and results of operations, as crude oil and natural gas are fungible prod"
1539838_10K_2015_0001539838-16-000129.json,item_1,(?i)major\s+customer,major customer,"nue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, based on the current demand for oil and natural gas, and the availability of other purchasers, we believe that the loss of any one or all of our major purchasers would not have a material adverse effect on our financial condition and results of operations, as crude oil and natural gas are fungible products with well-established markets and num"
1539838_10K_2015_0001539838-16-000129.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"tle opinions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2015, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). No other customer accounted for more than 10% of our revenue during these periods. If a maj"
1539838_10K_2015_0001539838-16-000129.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"t materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2015, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, b"
1539838_10K_2015_0001539838-16-000129.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"customers, as is customary in the exploration, development and production business. For the year ended December 31, 2015, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, based on the current demand for oil and natural gas, and the availability of other purchasers, we believe that the loss of any one or all of our major purchasers would not h"
1539838_10K_2015_0001539838-16-000129.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"hasers accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). For the year ended December 31, 2013, two purchasers each accounted for more than 10% of our revenue: Plains Marketing, L.P. (37%); and Shell Trading (US) Company (37%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. However, based on the current demand for oil and natural gas, and the availability of other purchasers, we believe that the loss of any one or all of our major purchasers would not have a material adverse effect on our financial condition and results of operations, as crude oil and natural gas are fungible prod"
1539838_10K_2016_0001539838-17-000009.json,item_1,(?i)major\s+customer,major customer,"Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement with Shell Trading (US) Company has an initial term of five years ending September 30, 2018. The agreement may also be terminated by Shell Trading (US) Company by written noti"
1539838_10K_2016_0001539838-17-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). No other customer accounted for more than 10% of our"
1539838_10K_2016_0001539838-17-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"fect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have"
1539838_10K_2016_0001539838-17-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"n, development and production business. For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement w"
1539838_10K_2016_0001539838-17-000009.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"ur revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). For the year ended December 31, 2014, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (64%); and Enterprise Crude Oil LLC (16%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement with Shell Trading (US) Company has an initial term of five years ending September 30, 2018. The agreement may also be terminated by"
1539838_10K_2017_0001539838-18-000014.json,item_1,(?i)major\s+customer,major customer,"d Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement with Shell Trading (US) Company has an initial term of five years ending September 30, 2018. The agreement may also be terminated by Shell Trading (US) Company by written noti"
1539838_10K_2017_0001539838-18-000014.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). No other customer"
1539838_10K_2017_0001539838-18-000014.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"ct our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial con"
1539838_10K_2017_0001539838-18-000014.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"ness. For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement w"
1539838_10K_2017_0001539838-18-000014.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"pany (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). For the year ended December 31, 2015, two purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (59%); and Enterprise Crude Oil LLC (15%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement with Shell Trading (US) Company has an initial term of five years ending September 30, 2018. The agreement may also be terminated by"
1539838_10K_2017_0001539838-18-000014.json,item_7,(?i)supply\s+agreement,supply agreement,"Interest expense related to the secured revolving credit facility 2,261 10,522 7,144 - $ 19,927 Senior notes - - - 1,000,000 $ 1,000,000 Interest expense related to the senior notes(2) 50,625 101,250 101,250 108,475 $ 361,600 Viper's secured revolving credit facility(1) - - 93,500 - $ 93,500 Interest and commitment fees under Viper's credit agreement(3) 1,149 2,299 2,107 - $ 5,555 Asset retirement obligations (4) 1,163 - - 20,122 $ 21,285 Drilling commitments(5) 21,882 10,082 - - $ 31,964 Sand supply agreements - 18,000 18,000 9,000 $ 45,000 Operating lease obligations(6) 3,581 6,234 4,648 7,973 $ 22,436 Fasken Center office building7) 99,000 - - - $ 99,000 $ 179,661 $ 148,387 $ 623,649 $ 1,145,570 $ 2,097,267 (1) Includes the outstanding principal amount under the revolving credit facilities, the table does not include interest expense or other fees payable under this floating rate facility as we cannot predict the timing of future borrowings and repayments or interest rates to be charged. (2) Inter"
1539838_10K_2018_0001539838-19-000008.json,item_1,(?i)major\s+customer,major customer,"For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. Agreement with Trafigura Trading LLC We have entered into a firm commitment oil purchase agreement with Trafigura Trading LLC, which we refer to as Trafigura, in which we agreed to sell and deliver an average of 25,000 barrels per day of Midland Sweet Crude Oil (WTI) to Trafigura during the term of the agreement. Under this agreement, which has a seven"
1539838_10K_2018_0001539838-19-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (26%); Koch Supply & Trading LP (15%); and Occidental Energy Marketing Inc (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterpris"
1539838_10K_2018_0001539838-19-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (26%); Koch Supply & Trading LP (15%); and Occidental Energy Marketing Inc (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our o"
1539838_10K_2018_0001539838-19-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (26%); Koch Supply & Trading LP (15%); and Occidental Energy Marketing Inc (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. Agreement with Trafigura Trading LLC We have entered into a firm commitment oil purchase agreement with Trafigura Trading LLC, which we refer to as"
1539838_10K_2018_0001539838-19-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"); and Occidental Energy Marketing Inc (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (31%); Koch Supply & Trading LP (19%); and Enterprise Crude Oil LLC (11%). For the year ended December 31, 2016, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. Agreement with Trafigura Trading LLC We have entered into a firm commitment oil purchase agreement with Trafigura Trading LLC, which we refer to as Trafigura, in which we agreed to sell and deliver an average of 25,000 barrels per day of Midland Sweet Crude Oil (WTI) to Trafigura during the term of the agreemen"
1539838_10K_2018_0001539838-19-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"$ - $ - $ 1,489,500 $ - $ 1,489,500 Interest expense related to the secured revolving credit facility 1,914 3,829 1,594 - 7,337 Senior notes - - - 2,050,000 2,050,000 Interest expense related to the senior notes(2) 102,375 204,750 204,750 212,805 724,680 Viper's secured revolving credit facility(1) - - 411,000 - 411,000 Interest and commitment fees under Viper's credit agreement(3) 1,080 - 2,070 Asset retirement obligations (4) - - 136,181 136,241 Drilling commitments(5) 18,976 - - 19,390 Sand supply agreements 9,000 18,000 11,250 - 38,250 Operating lease obligations(6) 9,019 5,279 - 14,881 $ 141,884 $ 233,352 $ 2,119,127 $ 2,398,986 $ 4,893,349 (1) Includes the outstanding principal amount under the revolving credit facilities, the table does not include interest expense or other fees payable under this floating rate facility as we cannot predict the timing of future borrowings and repayments or interest rates to be charged. (2) Interest represents the scheduled cash payments on the senior notes and"
1539838_10K_2019_0001539838-20-000021.json,item_1,(?i)major\s+customer,major customer,"to as Vitol (15%). For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (26%); Koch Supply & Trading LP, which we refer to as Koch (15%); and Occidental Energy Marketing Inc. (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell (31%); Koch (19%); and Enterprise Crude Oil LLC (11%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. Agreement with Trafigura Trading LLC We have entered into a firm commitment oil purchase agreement with Trafigura Trading LLC, which we refer to as Trafigura, in which we agreed to sell and deliver a firm quantity of 25,000 barrels of crude oil per day to Trafigura during the term of the agreement. Under this agreement, which has a seven-year term begi"
1539838_10K_2019_0001539838-20-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2019, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company, which we refer to as Shell (27%); Plains Marketing, which we refer to as Plains (23%); and Vitol Inc., which we refer to as Vitol (15%). For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (26%); Koch Supply & Trading LP, which we refer to as Koch (15%); and Occidental Energy Marketing Inc. (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: S"
1539838_10K_2019_0001539838-20-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"s We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2019, three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company, which we refer to as Shell (27%); Plains Marketing, which we refer to as Plains (23%); and Vitol Inc., which we refer to as Vitol (15%). For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (26%); Koch Supply & Trading LP, which we refer to as Koch (15%); and Occidental Energy Marketing Inc. (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell (31%); Koch (19%); and Enterprise Crude Oil LLC (11%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results an"
1539838_10K_2019_0001539838-20-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"an 10% of our revenue: Shell Trading (US) Company, which we refer to as Shell (27%); Plains Marketing, which we refer to as Plains (23%); and Vitol Inc., which we refer to as Vitol (15%). For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (26%); Koch Supply & Trading LP, which we refer to as Koch (15%); and Occidental Energy Marketing Inc. (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell (31%); Koch (19%); and Enterprise Crude Oil LLC (11%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. Agreement with Trafigura Trading LLC We have entered into a firm commitment oil purchase agreement with Trafigura Trading LLC, which we refer to as Trafigura, in which we agreed to sell and"
1539838_10K_2019_0001539838-20-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"Plains (23%); and Vitol Inc., which we refer to as Vitol (15%). For the year ended December 31, 2018, three purchasers each accounted for more than 10% of our revenue: Shell Trading (26%); Koch Supply & Trading LP, which we refer to as Koch (15%); and Occidental Energy Marketing Inc. (11%). For the year ended December 31, 2017, three purchasers each accounted for more than 10% of our revenue: Shell (31%); Koch (19%); and Enterprise Crude Oil LLC (11%). No other customer accounted for more than 10% of our revenue during these periods. If a major customer decided to stop purchasing oil and natural gas from us, revenue could decline and our operating results and financial condition could be harmed. Agreement with Trafigura Trading LLC We have entered into a firm commitment oil purchase agreement with Trafigura Trading LLC, which we refer to as Trafigura, in which we agreed to sell and deliver a firm quantity of 25,000 barrels of crude oil per day to Trafigura during the term of the agreement. Under this a"
1539838_10K_2019_0001539838-20-000021.json,item_7,(?i)supply\s+agreement,supply agreement,"ng credit facility(2) - - Senior notes - 1,000 2,919 4,339 Interest expense related to the senior notes(3) 1,074 DrillCo Agreement - - - Viper's secured revolving credit facility(1) - - - Commitment fees under Viper's credit agreement(4) - - Viper's senior notes - - - Interest expense related to Viper's senior notes Rattler's secured revolving credit facility(1) - - - Commitment fees under Rattler's credit agreement(5) - - Asset retirement obligations(6) - - - Drilling commitments(7) - - - Sand supply agreements Operating lease obligations(8) $ $ $ 1,816 $ 3,957 $ 6,972 (1) Includes the outstanding principal amount under the revolving credit facilities, the table does not include interest expense or other fees payable under this floating rate facility as we cannot predict the timing of future borrowings and repayments or interest rates to be charged. (2) Includes only the minimum amount of commitment fees due which, as of December 31, 2019, includes a commitment fee equal to 0.125% per year of the unu"
1539838_10K_2020_0001539838-21-000015.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"inions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For each of the years ended December 31, 2019 and 2018, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in notes to the co"
1539838_10K_2020_0001539838-21-000015.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nd other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For each of the years ended December 31, 2019 and 2018, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in notes to the consolidated financial statements included elsewhere in this Annual Report. Delivery Commitments Certain of our firm sales a"
1539838_10K_2020_0001539838-21-000015.json,item_1,(?i)customer\s+concentration,customer concentration,"For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For each of the years ended December 31, 2019 and 2018, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in notes to the consolidated financial statements included elsewhere in this Annual Report. Delivery Commitments Certain of our firm sales agreements for oil include delivery commitments that specify the delivery of a fixed and determinable quantity. We believe our current production and reserves are sufficient to fulfill these delivery commitments and we expect such reserves will continue to be the primary means of fulfilling our futu"
1539838_10K_2020_0001539838-21-000015.json,item_7,(?i)supply\s+agreement,supply agreement,"st expense related to the senior notes(2) 181 342 279 212 1,014 DrillCo Agreement - - - 79 79 Viper's secured revolving credit facility(1) - 84 - - 84 Viper's senior notes - - - 480 480 Interest expense related to Viper's senior notes 26 52 52 52 182 Rattler's secured revolving credit facility(1) - - 79 - 79 Rattler's senior notes - - 500 - 500 Interest expense related to Rattler's senior notes 28 56 55 - 139 Asset retirement obligations(3) 1 - - 108 109 Drilling commitments(4) 29 - - - 29 Sand supply agreements 18 36 36 5 95 Transportation commitments 60 111 95 133 399 Equity method investment capital contributions(5) 57 15 - - 72 Produced water disposal commitments 5 9 9 33 56 Operating lease obligations(6) 6 3 - - 9 $ 602 $ 751 $ 3,405 $ 3,202 $ 7,960 (1)Includes the outstanding principal amount under the revolving credit facilities, the table does not include commitment fees, interest expense or other fees payable under this floating rate facility as we cannot predict the timing of future borrowin"
1539838_10K_2021_0001539838-22-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2019, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concent"
1539838_10K_2021_0001539838-22-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"or current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2019, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in notes to the consolidated financi"
1539838_10K_2021_0001539838-22-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"t our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2019, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in notes to the consolidated financial statements included elsewhere in this Annual Report. Delivery Commitments Certain of our firm sales a"
1539838_10K_2021_0001539838-22-000008.json,item_1,(?i)customer\s+concentration,customer concentration,"% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2019, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in notes to the consolidated financial statements included elsewhere in this Annual Report. Delivery Commitments Certain of our firm sales agreements for oil include delivery commitments that specify the delivery of a fixed and determinable quantity. We believe our current production and reserves are sufficient to fulfill these delivery commitments and we expect such reserves will continue to be the primary means of fulfilling our futu"
1539838_10K_2022_0001539838-23-000022.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"pinions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concent"
1539838_10K_2022_0001539838-23-000022.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in the notes to the consolidated fina"
1539838_10K_2022_0001539838-23-000022.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"ect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in the notes to the consolidated financial statements included elsewhere in this Annual Report. Delivery Commitments Certain of our firm sal"
1539838_10K_2022_0001539838-23-000022.json,item_1,(?i)customer\s+concentration,customer concentration,"% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2020, four purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers included in the notes to the consolidated financial statements included elsewhere in this Annual Report. Delivery Commitments Certain of our firm sales agreements include delivery commitments that specify the delivery of a fixed and determinable quantity of oil. We believe our current production and reserves are sufficient to fulfill these delivery commitments and we expect our reserves will continue to be the primary means of fulfilling our fu"
1539838_10K_2022_0001539838-23-000022.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 15%,"s. In the Midland Basin, we continued to have positive results across our core development areas located within Midland, Martin, Howard, Glasscock and Andrews counties, where development has primarily focused on drilling long-lateral, multi-well pads targeting the Spraberry and Wolfcamp formations. In the Delaware Basin, we continued to target the Wolfcamp and Bone Spring formations across our primary development areas located in Pecos, Reeves and Ward counties. Collectively, the Delaware Basin accounted for approximately 15% of our total development in 2022, and we expect a similar portion of our total development to be focused in these areas in 2023. As of December 31, 2022, we were operating 19 drilling rigs and four completion crews and currently intend to operate between 13 and 19 drilling rigs and between four and seven completion crews in 2023 on average across our current acreage position in the Midland and Delaware Basins. Additionally, in the first quarter of 2023, we announced a target to sell at least $1"
1539838_10K_2023_0001539838-24-000019.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"inions. Our oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2023, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentr"
1539838_10K_2023_0001539838-24-000019.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2023, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers in Item 8. Financial Statements and Supplemen"
1539838_10K_2023_0001539838-24-000019.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"ect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the year ended December 31, 2023, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers in Item 8. Financial Statements and Supplementary Data of this report. Delivery Commitments Certain of our firm sales agreements include delivery com"
1539838_10K_2023_0001539838-24-000019.json,item_1,(?i)customer\s+concentration,customer concentration,"0% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2021, three purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers in Item 8. Financial Statements and Supplementary Data of this report. Delivery Commitments Certain of our firm sales agreements include delivery commitments that specify the delivery of a fixed and determinable quantity of oil. We expect our production and reserves will continue to be the primary means of fulfilling our future commitments. However, these contracts provide the options of delivering third-party volumes or paying a monetary short"
1539838_10K_2023_0001539838-24-000019.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 15%,"s. In the Midland Basin, we continued to have positive results across our core development areas located within Midland, Martin, Howard, Glasscock and Andrews counties, where development has primarily focused on drilling long-lateral, multi-well pads targeting the Spraberry and Wolfcamp formations. In the Delaware Basin, we continued to target the Wolfcamp and Bone Spring formations across our primary development areas located in Pecos, Reeves and Ward counties. Collectively, the Delaware Basin accounted for approximately 15% of our total development in 2023, and we expect a similar portion of our total development to be focused in these areas in 2024. As of December 31, 2023, we were operating 15 drilling rigs and four completion crews and currently intend to operate between 12 and 15 drilling rigs and between three and four completion crews in 2024 on average across our current acreage position in the Midland and Delaware Basins. We have currently budgeted 2024 total capital spend of $2.30 billion to $2.55 billion"
1539838_10K_2024_0001539838-25-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"r oil and natural gas properties are subject to customary royalty and other interests, liens for current taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the years ended December 31, 2024 and 2023, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers in Item 8. Financial Statements and Supplementa"
1539838_10K_2024_0001539838-25-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"nt taxes and other burdens which we believe do not materially interfere with the use of or affect our carrying value of the properties. Marketing and Customers We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. For the years ended December 31, 2024 and 2023, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers in Item 8. Financial Statements and Supplementary Data of this report. Delivery Commitments Certain of our firm sales agreements include delivery com"
1539838_10K_2024_0001539838-25-000021.json,item_1,(?i)customer\s+concentration,customer concentration,"business. For the years ended December 31, 2024 and 2023, four purchasers each accounted for more than 10% of our revenue. For the year ended December 31, 2022, two purchasers each accounted for more than 10% of our revenue. We do not require collateral and do not believe the loss of any single purchaser would materially impact our operating results, as crude oil and natural gas are fungible products with well-established markets and numerous purchasers. For additional information regarding our customer concentrations, see Note 3-Revenue from Contracts with Customers in Item 8. Financial Statements and Supplementary Data of this report. Delivery Commitments Certain of our firm sales agreements include delivery commitments that specify the delivery of a fixed and determinable quantity of oil. We expect our production and reserves will continue to be the primary means of fulfilling our future commitments. However, these contracts provide the options of delivering third-party volumes or paying a monetary short"
1539838_10K_2024_0001539838-25-000021.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 5%,"nd Basin, we continued to have positive results across our core development areas located within Midland, Martin, Ector, Glasscock, Reagan, Andrews and Howard counties, where development has primarily focused on drilling long-lateral, multi-well pads targeting the Spraberry and Wolfcamp formations. In the Delaware Basin, we continued to target the Wolfcamp and Bone Spring formations across our primary development areas located in Pecos, Reeves and Ward counties. Collectively, the Delaware Basin accounted for approximately 5% of our total development in 2024, and we expect a similar portion of our total development to be focused in these areas in 2025. As of December 31, 2024, we were operating 19 drilling rigs and four completion crews and currently intend to operate between 13 and 19 drilling rigs and between four and six completion crews in 2025 on average across our current acreage position in the Midland and Delaware Basins. 2025 Guidance The following table presents our current estimates, which give effect to"
1623925_10K_2019_0001558370-20-000723.json,item_1,(?i)significant\s+customer,significant customer,"ering and processing systems as of December 31, 2019: Low-Pressure High-Pressure Compression Pipeline (miles) Pipeline (miles) Capacity (MMcf/d) Marcellus 2,505 Utica Total 2,825 The following table provides information regarding our water handling systems as of December 31, 2019: Buried Fresh Surface Fresh Water Pipeline Water Pipeline (miles) (miles) Marcellus Utica Total Our Relationship with Antero Resources Antero Resources has a 28.7% ownership interest in us. Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in the Appalachian Basin, where it produced, on average, 3.2 Bcfe/d net (30% liquids) during 2019, an increase of 19% as compared to 2018. As of December 31, 2019, Antero Resources’ estimated net proved reserves were 18.9 Tcfe, which were comprised of 61% natural gas, 38% NGLs, and 1% oil. As of December 31, 2019, Antero Resources’ drilling inventory consisted of 2,385 identified potential horizontal well locations (approximately 1,685"
1623925_10K_2020_0001558370-21-001148.json,item_1,(?i)significant\s+customer,significant customer,"ear ended December 31, 2019 and 2020, we incurred $11 million and $15 million, respectively, in facility idling costs for the care and maintenance of the Clearwater Facility. Since idling the Clearwater Facility, we have satisfied our obligation to handle Antero Resources’ flowback and produced water through our blending operations and third parties. Our Relationship with Antero Resources Antero Resources has a 29.2% ownership interest in us as of December 31, 2020. Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in the Appalachian Basin, where it produced, on average, 3.6 Bcfe/d net (33% liquids) during 2020, an increase of 11% as compared to 2019. As of December 31, 2020, Antero Resources’ estimated net proved reserves were 17.6 Tcfe, which were comprised of 57% natural gas, 42% NGLs and 1% oil. As of December 31, 2020, Antero Resources’ drilling inventory consisted of 2,133 identified potential horizontal well locations (approximately 1,531"
1623925_10K_2021_0001558370-22-001278.json,item_1,(?i)significant\s+customer,significant customer,"ity, wastewater pits and a related landfill used for the disposal of salt therefrom (collectively, the “Clearwater Facility”), which we idled in September 2019. See Note 4-Clearwater Facility Idling to our consolidated financial statements for more information. Since idling the Clearwater Facility, we have satisfied our obligation to handle Antero Resources’ flowback and produced water through our other fluid handling services. Our Relationship with Antero Resources Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in North America. As of December 31, 2021, all of Antero Resources’ approximate 557,000 gross acres (502,000 net acres) are dedicated to us for gathering, compression and water services, except for approximately 127,000 gross acres subject to third-party gathering and compression commitments. During the year ended December 31, 2021, Antero Resources produced, on average, 3,271 MMcfe/d net (31% liquids). As of December 31, 2021, Antero"
1623925_10K_2021_0001558370-22-001278.json,item_7,(?i)supply\s+agreement,supply agreement,"s (“BLS”) CPI for all urban consumers increased 7% from December 31, 2020 to December 31, 2021 as compared to the average historical 10-year rate of 2%. Additionally, employment activity has also begun to strengthen as demonstrated by the United States BLS unemployment rate declining from a high of 15% in April 2020 to 4% in December 2021. Inflationary pressures and labor shortages could result in increases to our operating and capital costs that are not fixed, renegotiation of contracts and/or supply agreements and higher labor costs, among others. These economic variables are beyond our control and may adversely impact our business, financial condition, results of operations and future cash flows. Recent Developments and Highlights Credit Facility On October 26, 2021, we entered into an amended and restated senior secured revolving credit facility with lender commitments of $1.25 billion, which matures on October 26, 2026; provided that if on November 17, 2025 any of the 7.875% senior unsecured note"
1623925_10K_2022_0001558370-23-001377.json,item_1,(?i)significant\s+customer,significant customer,"d production activities. We also own water treatment assets, including the Antero Clearwater Facility (the “Clearwater Facility”), which we idled in September 2019. See Note 6-Property and Equipment to our consolidated financial statements for more information. Since idling the Clearwater Facility, we have satisfied our obligation to handle Antero Resources’ flowback and produced water through our other fluid handling services. Our Relationship with Antero Resources Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in North America. As of December 31, 2022, substantially all of Antero Resources’ approximate 553,000 gross acres (504,000 net acres) are dedicated to us for gathering, compression and water services. During the year ended December 31, 2022, Antero Resources produced, on average, 3.2 Bcfe/d net (32% liquids). As of December 31, 2022, Antero Resources’ estimated net proved reserves were 17.8 Tcfe, which were comprised of 58% natural gas"
1623925_10K_2022_0001558370-23-001377.json,item_7,(?i)supply\s+agreement,supply agreement,"ional pressure due to trade sanctions on Russia and other global trade restrictions, among others. However, neither our nor Antero Resources’ supply chain has experienced any significant interruptions due to the COVID-19 pandemic or global supply and demand imbalances. Inflationary pressures and supply chain disruptions could result in further increases to our operating and capital costs that are not fixed. Additionally, these economic variables could lead to a renegotiation of contracts and/or supply agreements, among others. These economic variables are beyond our control and may adversely impact our business, financial condition, results of operations and future cash flows. COVID-19 Pandemic We continue to operate throughout the COVID-19 pandemic, in some cases subject to federal, state and local regulations, and we have taken and continue to take steps to protect the health and safety of our workers. We have implemented protocols to reduce the risk of an outbreak within our field operations and of"
1623925_10K_2023_0001558370-24-001161.json,item_1,(?i)significant\s+customer,significant customer,"support other fluid handling services that we provide to Antero Resources for well completion and production activities. We also own water treatment assets, including the Antero Clearwater Facility (the “Clearwater Facility”), which we idled in September 2019. Since idling the Clearwater Facility, we have satisfied our obligation to handle Antero Resources’ flowback and produced water through our other fluid handling services. Our Relationship with Antero Resources Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in North America. As of December 31, 2023, substantially all of Antero Resources’ approximate 570,000 gross acres (515,000 net acres) are dedicated to us for gathering, compression and water services. During the year ended December 31, 2023, Antero Resources produced, on average, 3.4 Bcfe/d net (34% liquids). As of December 31, 2023, Antero Resources’ estimated net proved reserves were 18.1 Tcfe, which were comprised of 59% natural gas"
1623925_10K_2024_0001558370-25-000862.json,item_1,(?i)significant\s+customer,significant customer,"support other fluid handling services that we provide to Antero Resources for well completion and production activities. We also own water treatment assets, including the Antero Clearwater Facility (the “Clearwater Facility”), which we idled in September 2019. Since idling the Clearwater Facility, we have satisfied our obligation to handle Antero Resources’ flowback and produced water through our other fluid handling services. Our Relationship with Antero Resources Antero Resources is our most significant customer and is one of the largest producers of natural gas and NGLs in North America. As of December 31, 2024, substantially all of Antero Resources’ approximate 567,000 gross acres (521,000 net acres) are dedicated to us for gathering, compression and water services. During the year ended December 31, 2024, Antero Resources produced, on average, 3.4 Bcfe/d net (37% liquids). As of December 31, 2024, Antero Resources’ estimated net proved reserves were 17.9 Tcfe, which were comprised of 59% natural gas"
1623925_10K_2024_0001558370-25-000862.json,item_1,(?i)customer\s+concentration,Customer Concentration,"regarding our contracts with Antero Resources, see “-Operational and Managerial Arrangements with Antero Resources.” We currently derive substantially all of our revenue from Antero Resources. Any development that materially and adversely affects Antero Resources’ operations, financial condition or market reputation could have a material adverse impact on us. Accordingly, we are indirectly subject to the business risks of Antero Resources. For additional information, see “Item 1A. Risk Factors-Customer Concentration.” Operational and Managerial Arrangements with Antero Resources Gathering and Compression Our gathering and compression service agreements with Antero Resources include: (i) the second amended and restated gathering and compression agreement dated December 8, 2019 (the “2019 gathering and compression agreement”), (ii) a gathering and compression agreement acquired with the Crestwood Equity Partners LP (“Crestwood”) assets (the “Marcellus gathering and compression agreement”), (iii) a compressio"
1658566_10K_2016_0001628280-17-002841.json,item_1,(?i)major\s+customer,major customer,"rms of greater than twelve months and all of our oil under contracts with terms of less than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. For the year ended December 31, 2016, sales to Plains Marketing, LP (“Plains”), Shell Trading (US) Company, and Permian Transport and Trading accounted for 48%, 22%, and 11%, respectively, of the total revenue. For the years ended December 31, 2015 and December 31, 2014, we only had one major customer, Plains, which accounted for 64% and 78%, respectively, of total revenue. During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition and results o"
1658566_10K_2016_0001628280-17-002841.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"atively small number of customers, as is customary in our business. For the year ended December 31, 2016, sales to Plains Marketing, LP (“Plains”), Shell Trading (US) Company, and Permian Transport and Trading accounted for 48%, 22%, and 11%, respectively, of the total revenue. For the years ended December 31, 2015 and December 31, 2014, we only had one major customer, Plains, which accounted for 64% and 78%, respectively, of total revenue. During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers. Competition The oil and natural"
1658566_10K_2016_0001628280-17-002841.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 48%,"s. We sell our oil, natural gas and NGL production to purchasers at market prices. We sell all of our natural gas and NGLs under contracts with terms of greater than twelve months and all of our oil under contracts with terms of less than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. For the year ended December 31, 2016, sales to Plains Marketing, LP (“Plains”), Shell Trading (US) Company, and Permian Transport and Trading accounted for 48%, 22%, and 11%, respectively, of the total revenue. For the years ended December 31, 2015 and December 31, 2014, we only had one major customer, Plains, which accounted for 64% and 78%, respectively, of total revenue. During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of othe"
1658566_10K_2016_0001628280-17-002841.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 64%,"ths and all of our oil under contracts with terms of less than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. For the year ended December 31, 2016, sales to Plains Marketing, LP (“Plains”), Shell Trading (US) Company, and Permian Transport and Trading accounted for 48%, 22%, and 11%, respectively, of the total revenue. For the years ended December 31, 2015 and December 31, 2014, we only had one major customer, Plains, which accounted for 64% and 78%, respectively, of total revenue. During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition and results of operations because crude oil an"
1658566_10K_2016_0001628280-17-002841.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ction to a relatively small number of customers, as is customary in our business. For the year ended December 31, 2016, sales to Plains Marketing, LP (“Plains”), Shell Trading (US) Company, and Permian Transport and Trading accounted for 48%, 22%, and 11%, respectively, of the total revenue. For the years ended December 31, 2015 and December 31, 2014, we only had one major customer, Plains, which accounted for 64% and 78%, respectively, of total revenue. During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers. Competiti"
1658566_10K_2017_0001658566-18-000008.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"es below present percentages by purchaser that accounted for 10% or more of our total oil, NGL, and natural gas sales for the years ended December 31, 2017, 2016, and 2015. Year Ended December 31, 2017 Shell Trading (US) Company % BP America % Eagleclaw Midstream Ventures, LLC % Year Ended December 31, 2016 Plains Marketing, LP % Shell Trading (US) Company % Permian Transport and Trading % Year Ended December 31, 2015 Plains Marketing, LP % During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers. Competition The oil and natural"
1658566_10K_2017_0001658566-18-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"the account of the other working interest owners in these properties. We sell our oil, natural gas and NGL production to purchasers at market prices. We sell all of our NGLs under contracts with terms of greater than twelve months and the majority of our natural gas and all of our oil under contracts with terms of less than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The tables below present percentages by purchaser that accounted for 10% or more of our total oil, NGL, and natural gas sales for the years ended December 31, 2017, 2016, and 2015. Year Ended December 31, 2017 Shell Trading (US) Company % BP America % Eagleclaw Midstream Ventures, LLC % Year Ended December 31, 2016 Plains Marketing, LP % Shell Trading (US) Company % Permian Transport and Trading % Year Ended December 31, 2015 Plains Marketing, LP % During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchas"
1658566_10K_2017_0001658566-18-000008.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ness. The tables below present percentages by purchaser that accounted for 10% or more of our total oil, NGL, and natural gas sales for the years ended December 31, 2017, 2016, and 2015. Year Ended December 31, 2017 Shell Trading (US) Company % BP America % Eagleclaw Midstream Ventures, LLC % Year Ended December 31, 2016 Plains Marketing, LP % Shell Trading (US) Company % Permian Transport and Trading % Year Ended December 31, 2015 Plains Marketing, LP % During these periods, no other purchaser accounted for 10% or more of our revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the short-term. However, based on the current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers. Competiti"
1658566_10K_2017_0001658566-18-000008.json,item_7,(?i)supply\s+agreement,supply agreement,"and disposal of the produced water from our operated wells. Under the terms of the agreement, Centennial is obligated to provide a minimum volume of produced water or else pay for any deficiencies at the price stipulated in the contract. The obligations reported above represent our minimum financial commitments pursuant to the terms of this contract as of December 31, 2017. Actual expenditures under this contract may exceed the minimum commitments presented above. (4) The Company entered into a supply agreement to purchase frac and sand product for a term of three years. Under the terms of the agreement, Centennial is obligated to purchase a minimum volume of frac and sand product at a fixed sales price. A prepayment of $13.2 million was made during 2017 and will be used as a partial credit against monthly purchases. The obligations reported above represent our minimum financial commitments pursuant to the terms of this contract as of December 31, 2017. Actual expenditures under this contract may exce"
1658566_10K_2018_0001658566-19-000028.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"her working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices. We sell all of our NGLs under contracts with terms of greater than twelve months and the majority of our natural gas and all of our oil under contracts with terms of less than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The tables below present percentages by purchaser that accounted for 10% or more of our net revenues for the years ended December 31, 2018, 2017, and 2016. For the Year Ended December 31, Shell Trading (US) Company % % % BP America % % - % Eagleclaw Midstream Ventures, LLC % % - % Plains Marketing, LP - % % % Permian Transport and Trading - % % % During these periods, no other purchaser accounted for 10% or more of our net revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil an"
1658566_10K_2018_0001658566-19-000028.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"nths. We normally sell production to a relatively small number of customers, as is customary in our business. The tables below present percentages by purchaser that accounted for 10% or more of our net revenues for the years ended December 31, 2018, 2017, and 2016. For the Year Ended December 31, Shell Trading (US) Company % % % BP America % % - % Eagleclaw Midstream Ventures, LLC % % - % Plains Marketing, LP - % % % Permian Transport and Trading - % % % During these periods, no other purchaser accounted for 10% or more of our net revenue. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers and based on current demand for oil and natural gas and the availability of other purchasers, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competiti"
1658566_10K_2019_0001658566-20-000040.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"rket the majority of the production from properties we operate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The tables below present percentages by purchaser that accounted for 10% or more of our net revenues for the periods presented: Year Ended December 31, BP America % % % ExxonMobil Oil Corporation % - % - % Shell Trading (US) Company % % % Eagleclaw Midstream Ventures, LLC % % % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and"
1658566_10K_2019_0001658566-20-000040.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"he majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The tables below present percentages by purchaser that accounted for 10% or more of our net revenues for the periods presented: Year Ended December 31, BP America % % % ExxonMobil Oil Corporation % - % - % Shell Trading (US) Company % % % Eagleclaw Midstream Ventures, LLC % % % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers and are based on current demand for oil and natural gas, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competition The oil and natural gas industry"
1658566_10K_2020_0001658566-21-000033.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, which in certain cases are adjusted for contractual differentials, and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2020 2019 2018 BP America 47 % 37 % 18 % Shell Trading (US) Company 20 % 11 % 19 % Eagleclaw Midstream Ventures, LLC 8 % 8 % 12 % ExxonMobil Oil Corporation 4 % 26 % - % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fu"
1658566_10K_2020_0001658566-21-000033.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2020 2019 2018 BP America 47 % 37 % 18 % Shell Trading (US) Company 20 % 11 % 19 % Eagleclaw Midstream Ventures, LLC 8 % 8 % 12 % ExxonMobil Oil Corporation 4 % 26 % - % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers and are based on current demand for oil and natural gas, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competition The oil and natural gas industry"
1658566_10K_2021_0001658566-22-000022.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, which in certain cases are adjusted for contractual differentials, and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2021 2020 2019 BP America 50 % 47 % 37 % Shell Trading (US) Company 22 % 20 % 11 % Eagleclaw Midstream Ventures, LLC 11 % 8 % 8 % ExxonMobil Oil Corporation - % 4 % 26 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fu"
1658566_10K_2021_0001658566-22-000022.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2021 2020 2019 BP America 50 % 47 % 37 % Shell Trading (US) Company 22 % 20 % 11 % Eagleclaw Midstream Ventures, LLC 11 % 8 % 8 % ExxonMobil Oil Corporation - % 4 % 26 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers and are based on current demand for oil and natural gas, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competition The oil and natural gas industry"
1658566_10K_2022_0001658566-23-000019.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, which in certain cases are adjusted for contractual differentials, and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2022 2021 2020 BP America 34 % 50 % 47 % Shell Trading (US) Company 21 % 22 % 20 % Enterprise Crude Oil, LLC 18 % - % 4 % Eagleclaw Midstream Ventures, LLC 8 % 11 % 8 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fun"
1658566_10K_2022_0001658566-23-000019.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"e terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2022 2021 2020 BP America 34 % 50 % 47 % Shell Trading (US) Company 21 % 22 % 20 % Enterprise Crude Oil, LLC 18 % - % 4 % Eagleclaw Midstream Ventures, LLC 8 % 11 % 8 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers and are based on current demand for oil and natural gas, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competition The oil and natural gas industry"
1658566_10K_2023_0001658566-24-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, which in certain cases are adjusted for contractual differentials, and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2023 2022 2021 BP America 20 % 34 % 50 % Shell Trading (US) Company 20 % 21 % 22 % Enterprise Crude Oil, LLC 30 % 18 % - % Kinetik Holdings Inc. 5 % 8 % 11 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible produ"
1658566_10K_2023_0001658566-24-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ntracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2023 2022 2021 BP America 20 % 34 % 50 % Shell Trading (US) Company 20 % 21 % 22 % Enterprise Crude Oil, LLC 30 % 18 % - % Kinetik Holdings Inc. 5 % 8 % 11 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers and are based on current demand for oil and natural gas, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competition The oil and natural gas industry"
1658566_10K_2024_0001658566-25-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, which in certain cases are adjusted for contractual differentials, and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2024 2023 2022 Shell Trading (US) Company 31 % 20 % 21 % Enterprise Crude Oil, LLC 19 % 30 % 18 % BP America 11 % 20 % 34 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets"
1658566_10K_2024_0001658566-25-000014.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"and the majority of our revenue contracts have terms greater than twelve months. We normally sell production to a relatively small number of customers, as is customary in our business. The table below summarizes the purchasers that accounted for 10% or more of our total net revenues for the periods presented: Year Ended December 31, 2024 2023 2022 Shell Trading (US) Company 31 % 20 % 21 % Enterprise Crude Oil, LLC 19 % 30 % 18 % BP America 11 % 20 % 34 % During these periods, no other purchaser accounted for 10% or more of our net revenues. The loss of any of our major purchasers could materially and adversely affect our revenues in the near-term. However, since crude oil and natural gas are fungible products with well-established markets and numerous purchasers that are based on current demand for oil and natural gas, we believe that the loss of any major purchaser would not have a material adverse effect on our financial condition or results of operations. Competition The oil and natural gas industry"
1681459_10K_2017_0001681459-18-000049.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"n open seas or exposed locations. Both our land- and marine-based loading and transfer systems are capable of handling a wide range of products including petroleum products, LNG and chemical products. Capital Intensity Surface Technologies manufactures most of its products, resulting in a reliance on manufacturing locations throughout the world. We also maintain a large amount of rental equipment related to pressure operations. Dependence on Key Customers No single Surface Technologies customer accounted for 10% or more of our 2017 consolidated revenue. Competition Surface Technologies is a market leader for our primary products and services. Some of the factors that distinguish us from other companies in the same sector include our technological innovation, reliability and product quality. Surface Technologies competes with other companies that supply surface production equipment and pressure control products. Some of our major competitors in Surface Technologies include Cameron International Corporat"
1681459_10K_2018_0001681459-19-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"s have also sought the security of alliances with us to ensure timely and cost-effective delivery of subsea and other energy-related systems that provide integrated solutions to meet their needs. Our alliances establish important ongoing relationships with our customers. While these alliances do not contractually commit our customers to purchase our systems and services, they have historically led to, and we expect that they would continue to result in, such purchases. No single Subsea customer accounted for 10% or more of our 2018 consolidated revenue. Competition As a result of the Merger, we are the only company that can provide the full suite of subsea production equipment, umbilicals, and flowlines, as well as the installation services to develop a subsea production field. Our company competes with companies that supply some of the components as well as installation companies. Our competitors include Aker Solutions ASA, Baker Hughes, a GE Company (“BHGE”), Dril-Quip, Inc., McDermott International,"
1681459_10K_2018_0001681459-19-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"pen seas or exposed locations. Both our land- and marine-based loading and transfer systems are capable of handling a wide range of products including petroleum products, LNG, and chemical products. Capital Intensity Surface Technologies manufactures most of its products, resulting in a reliance on manufacturing locations throughout the world. We also maintain a large quantity of rental equipment related to pressure operations. Dependence on Key Customers No single Surface Technologies customer accounted for 10% or more of our 2018 consolidated revenue. Competition Surface Technologies is a market leader for our primary products and services. Some of the factors that distinguish us from other companies in the same sector include our technological innovation, reliability, product quality, and ability to integrate across a broad portfolio scope. Surface Technologies competes with other companies that supply surface production equipment and pressure control products. Some of our major competitors in Surfa"
1681459_10K_2019_0001681459-20-000004.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"eeds. Our alliances establish important ongoing relationships with our customers. While these alliances do not contractually commit our customers to purchase our systems and services, they have historically led to, and we expect that they would continue to result in, such purchases. The commitment to our customers goes beyond project delivery, and we nurture these alliances with transparency and collaboration to better understand their needs to ensure customer success. No single Subsea customer accounted for 10% or more of our 2019 consolidated revenue. Competition We are the only fully integrated company that can provide the complete suite of subsea production equipment, umbilicals, and flowlines with the complete portfolio of installation services enabling us to develop a subsea field as a single company. Our company competes with companies that supply some of the components as well as installation companies. Our competitors include Aker Solutions ASA, Baker Hughes Company (“Baker Hughes”), Dril-Quip"
1681459_10K_2019_0001681459-20-000004.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"to our clients. Capital Intensity Surface Technologies manufactures most of its products, resulting in a reliance on manufacturing locations throughout the world, including fully owned manufacturing hubs in Stephenville, Texas, United States and Singapore, and a wide global network of third party suppliers. We also maintain a large quantity of rental equipment related to our drilling & completion and pressure control offerings. Dependence on Key Customers No single Surface Technologies customer accounted for 10% or more of our 2019 consolidated revenue. Competition Surface Technologies is a market leader for many of our products and services. Some of the factors that distinguish us from other companies in the same sector include our technological innovation, reliability, product quality, and ability to integrate across a broad portfolio scope. Surface Technologies competes with other companies that supply surface production equipment and pressure control products. Some of our major competitors in Surfa"
1681459_10K_2020_0001681459-21-000043.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"eeds. Our alliances establish important ongoing relationships with our customers. While these alliances do not contractually commit our customers to purchase our systems and services, they have historically led to, and we expect that they would continue to result in, such purchases. The commitment to our customers goes beyond project delivery, and we nurture these alliances with transparency and collaboration to better understand their needs to ensure customer success. No single Subsea customer accounted for 10% or more of our 2020 consolidated revenue. Competition We are the only fully integrated company that can provide the complete suite of subsea production equipment, umbilicals, and flowlines with the complete portfolio of installation and LOF services enabling us to develop a subsea field as a single company. We compete with companies that supply some of the components as well as installation companies. Our competitors include Aker Solutions ASA, Baker Hughes Company (“Baker Hughes”), Dril-Quip,"
1681459_10K_2020_0001681459-21-000043.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ned manufacturing hubs in Stephenville, Texas, U.S., and Singapore, and a wide global network of third-party suppliers. We also maintain a large quantity of rental equipment related to our drilling and completion and pressure control offerings. Dependence on Key Customers Generally, Surface Technologies’ customers are major integrated oil companies, national oil companies, independent exploration and production companies and oil and gas service companies. No single Surface Technologies customer accounted for 10% or more of our 2020 consolidated revenue. Competition Surface Technologies is a market leader for many of our products and services. Some of the factors that distinguish us from other companies in the same sector include our technological innovation, reliability, product quality, and ability to integrate across a broad portfolio scope. Surface Technologies competes with other companies that supply surface production equipment and pressure control products. Some of our major competitors include"
1681459_10K_2021_0001681459-22-000005.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"eeds. Our alliances establish important ongoing relationships with our customers. While these alliances do not contractually commit our customers to purchase our systems and services, they have historically led to, and we expect that they would continue to result in, such purchases. The commitment to our customers goes beyond project delivery, and we nurture these alliances with transparency and collaboration to better understand their needs to ensure customer success. No single Subsea customer accounted for 10% or more of our 2021 consolidated revenue. Competition We are the only fully integrated company that can provide the complete suite of subsea production equipment, umbilicals, and flowlines with the complete portfolio of installation and LOF services, enabling us to develop a subsea field as a single company. We compete with companies that supply some of the components, as well as installation companies. Our competitors include Aker Solutions ASA, Baker Hughes Company (“Baker Hughes”), Dril-Quip"
1681459_10K_2024_0001681459-25-000036.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 18%,"re subsea fields. Our open ecosystem connects applications using common data models throughout a project’s lifecycle and can exchange data with suppliers, partners, and clients, providing immediate access to information to improve the efficiency and quality of decisions and planning. Dependence on Key Customers Generally, our customers in the Subsea segment are major integrated oil companies, national oil companies, and independent exploration and production companies. Three different customers accounted for 18%, 13%, and 11%, of our consolidated revenue in 2024, respectively. Our list of customers has expanded to more than 40 unique clients, which has allowed us to further diversify our dependence away from any single customer. We actively pursue alliances with companies engaged in the subsea development of oil and natural gas to promote our integrated systems for subsea production. Development of subsea fields, particularly in deepwater environments, involves substantial capital investments. Operator"
1681459_10K_2024_0001681459-25-000036.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ases of the asset’s life cycle from early planning stages through testing and installation, commissioning, and operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment. Dependence on Key Customers Surface Technologies’ customers include major integrated oil companies, national oil companies, independent exploration, and production companies and oil and natural gas service companies. No single Surface Technologies customer accounted for 10% or more of our 2024 consolidated revenue. Competition We are a market leader for many of our products and services. Some of the factors that distinguish TechnipFMC from other companies in the sector include our technological innovation, integrated solutions, reliability, and product quality. Surface Technologies competes with other companies that supply surface production equipment and pressure control products, including Baker Hughes Company; Cactus Wellhead, LLC; SLB; Halliburton Co; Delta US"
1694426_10K_2017_0001694426-18-000036.json,item_1,(?i)supply\s+agreement,Supply Agreement,"ongview, Texas, with destinations in the Shreveport, Louisiana area (the ""Caddo Pipeline"") and; • a 33% interest in a 107-mile crude oil pipeline with an initial capacity of 55,000 bpd, with the capability to expand to 85,000 bpd, that originates in north Loving County, Texas near the Texas-New Mexico border and terminates in Midland, Texas (""the RIO Pipeline""). The RIO Pipeline project began operations in September 2016 and the Caddo Pipeline began operations in January 2017. Logistics Segment Supply Agreement A large portion of the petroleum products for sale by the logistics segment in west Texas were purchased from Noble Petro, Inc. (""Noble Petro"") during 2017. Under the terms of a supply contract (the ""Abilene Contract"") with Noble Petro, which expired December 31, 2017, we had the right to purchase up to 20,350 bpd of petroleum products. Under the Abilene Contract, we purchased petroleum products based on monthly average prices from Noble Petro immediately prior to our resale of such products to"
1694426_10K_2017_0001694426-18-000036.json,item_7,(?i)supply\s+agreement,supply agreement,"2,869.6 (1) Expected interest payments on debt outstanding at December 31, 2017. Floating interest rate debt is calculated using December 31, 2017 rates. For additional information, see Note 12 to the consolidated financial statements in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. (2) Amounts reflect future estimated lease payments under operating leases having remaining non-cancelable terms in excess of one year as of December 31, 2017. (3) We have supply agreements to secure certain quantities of crude oil, finished product and other resources used in production at both fixed and market prices. We have estimated future payments under the market based agreements using current market rates. (4) Balances consist of contractual obligations under agreements with third parties (not including Delek Logistics) for the transportation of crude oil to our refineries. Off-Balance Sheet Arrangements We have no off-balance sheet arrangements through the date of this A"
1694426_10K_2018_0001694426-19-000021.json,item_1,(?i)supply\s+agreement,Supply Agreement,"a capacity of 80,000 bpd that originates in Longview, Texas, with destinations in the Shreveport, Louisiana area (the ""Caddo Pipeline"") and; • a 33% interest in a 109-mile crude oil pipeline with an initial capacity of 80,000 bpd, that originates in north Loving County, Texas near the Texas-New Mexico border and terminates in Midland, Texas (""the RIO Pipeline""). The RIO Pipeline project began operations in September 2016 and the Caddo Pipeline began operations in January 2017. Logistics Segment Supply Agreement A large portion of the petroleum products for sale by the logistics segment in west Texas were purchased from Noble Petro, Inc. (""Noble Petro"") during 2017. Under this arrangement, we had limited direct exposure to risks associated with fluctuating prices for these refined products due to the short period of time between the purchase and resale of these refined products. As of January 1, 2018, these regular sales of product by Noble Business and Properties Petro to us concluded. Delek Logistics"
1694426_10K_2018_0001694426-19-000021.json,item_7,(?i)supply\s+agreement,supply agreement,"3,689.2 (1) Expected interest payments on debt outstanding at December 31, 2018. Floating interest rate debt is calculated using December 31, 2018 rates. For additional information, see Note 11 to the consolidated financial statements in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. (2) Amounts reflect future estimated lease payments under operating leases having remaining non-cancelable terms in excess of one year as of December 31, 2018. (3) We have supply agreements to secure certain quantities of crude oil, finished product and other resources used in production at both fixed and market prices. We have estimated future payments under the market based agreements using current market rates. Excludes purchase commitments in buy-sell transactions which have matching notional amounts with the same counterparty and are generally net settled. (4) Balances consist of contractual obligations under agreements with third parties (not including Delek Logistics) for"
1694426_10K_2019_0001694426-20-000011.json,item_1,(?i)supply\s+agreement,Supply Agreement,"Mexico border and terminates in Midland, Texas (""RIO Pipeline"") CP LLC 50% Joint venture operates an 80-mile crude oil pipeline with a capacity of 80,000 bpd that originates in Longview, Texas, with destinations in the Shreveport, Louisiana area (""Caddo Pipeline"") Red River 33% Joint venture operates a 16-inch crude oil pipeline between Cushing, Oklahoma and Longview, Texas with current capacity of 150,000 bpd and planned expansion to 235,000 bpd in 2020 (""Red River Pipeline"") Logistics Segment Supply Agreement During the year ended December 31, 2017, Delek Logistics purchased petroleum products from Noble Petro, Inc. (""Noble Petro"") pursuant to the terms of a supply contract with Noble Petro. Delek Logistics then marketed these petroleum products to third parties. As of January 1, 2018, these regular sales of product by Noble Petro concluded, as the supply contract expired in December 2017. Following expiration of the contract with Noble Petro, Delek Logistics purchased products from Delek and third"
1694426_10K_2019_0001694426-20-000011.json,item_7,(?i)supply\s+agreement,supply agreement,"3,288.0 (1) Expected interest payments on debt outstanding at December 31, 2019. Floating interest rate debt is calculated using December 31, 2019 rates. For additional information, see Note 11 to the consolidated financial statements in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. (2) Amounts reflect future estimated lease payments under operating leases having remaining non-cancelable terms in excess of one year as of December 31, 2019. (3) We have supply agreements to secure certain quantities of crude oil, finished product and other resources used in production at both fixed and market prices. We have estimated future payments under the market-based agreements using current market rates. Excludes purchase commitments in buy-sell transactions which have matching notional amounts with the same counterparty and are generally net settled. (4) Balances consist of contractual obligations under agreements with third parties (not including Delek Logistics) for"
1694426_10K_2020_0001694426-21-000034.json,item_1,(?i)supply\s+agreement,Supply Agreement,"ddo Pipeline 50% Joint venture operates an 80-mile crude oil pipeline with a capacity of 80,000 bpd that originates in Longview, Texas, with destinations in the Shreveport, Louisiana area (""Caddo Pipeline"") Red River Pipeline 33% Joint venture operates a 16-inch crude oil pipeline between Cushing, Oklahoma and Longview, Texas with prior capacity of 150,000 bpd and increased capacity of 235,000 bpd after completion of the expansion project in October 2020 (""Red River Pipeline"") Logistics Segment Supply Agreement As of January 1, 2018, Delek Logistics purchased products from Delek and third parties at our Abilene and San Angelo terminals. To facilitate these purchases, Delek Logistics constructed a pipeline into our Abilene Terminal to receive product from the pipeline owned by Holly Energy Partners, L.P. (NYSE: HEP) through which Delek shipped product that was produced at the Big Spring Refinery. Delek Logistics is currently constructing a connection to a Magellan Midstream Partners, L.P. (""Magellan"")"
1694426_10K_2020_0001694426-21-000034.json,item_7,(?i)supply\s+agreement,supply agreement,"5,666.1 (1) Expected interest payments on debt outstanding at December 31, 2020. Floating interest rate debt is calculated using December 31, 2020 rates. For additional information, see Note 11 to the consolidated financial statements in Item 8. Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. (2) Amounts reflect future estimated lease payments under operating leases having remaining non-cancelable terms in excess of one year as of December 31, 2020. (3) We have supply agreements to secure certain quantities of crude oil, finished product and other resources used in production at both fixed and market prices. We have estimated future payments under the market-based agreements using current market rates. Excludes purchase commitments in buy-sell transactions which have matching notional amounts with the same counterparty and are generally net settled. (4) Balances consist of obligations under RINs product financing arrangements, as described in the 'Environmental Credit"
1694426_10K_2021_0001694426-22-000048.json,item_1,(?i)supply\s+agreement,Supply Agreement,"ddo Pipeline 50% Joint venture operates an 80-mile crude oil pipeline with a capacity of 80,000 bpd that originates in Longview, Texas, with destinations in the Shreveport, Louisiana area (""Caddo Pipeline"") Red River Pipeline 33% Joint venture operates a 16-inch crude oil pipeline between Cushing, Oklahoma and Longview, Texas with prior capacity of 150,000 bpd and increased capacity of 235,000 bpd after completion of the expansion project in October 2020 (""Red River Pipeline"") Logistics Segment Supply Agreement As of January 1, 2018, Delek Logistics purchased products from Delek and third parties at our Abilene and San Angelo terminals. To facilitate these purchases, Delek Logistics constructed a pipeline into our Abilene Terminal to receive product from the pipeline owned by Holly Energy Partners, L.P. (NYSE: HEP) through which Delek shipped product that was produced at the Big Spring Refinery. Delek Logistics is currently constructing a connection to a Magellan Midstream Partners, L.P. (""Magellan"")"
1694426_10K_2022_0001694426-23-000007.json,item_1,(?i)supply\s+agreement,Supply Agreement,"ddo Pipeline 50% Joint venture operates an 80-mile crude oil pipeline with a capacity of 80,000 bpd that originates in Longview, Texas, with destinations in the Shreveport, Louisiana area (""Caddo Pipeline"") Red River Pipeline 33% Joint venture operates a 16-inch crude oil pipeline between Cushing, Oklahoma and Longview, Texas with prior capacity of 150,000 bpd and increased capacity of 235,000 bpd after completion of the expansion project in October 2020 (""Red River Pipeline"") Logistics Segment Supply Agreement As of January 1, 2018, Delek Logistics purchased products from Delek and third parties at our Abilene and San Angelo terminals. To facilitate these purchases, Delek Logistics constructed a pipeline into our Abilene Terminal to receive product from the pipeline owned by Holly Energy Partners, L.P. (NYSE: HEP) through which Delek shipped product that was produced at the Big Spring tefinery. Delek Logistics is currently constructing a connection to a Magellan Midstream Partners, L.P. (""Magellan"")"
1694426_10K_2023_0001694426-24-000028.json,item_1,(?i)supply\s+agreement,Supply Agreement,"ddo Pipeline 50% Joint venture operates an 80-mile crude oil pipeline with a capacity of 80,000 bpd that originates in Longview, Texas, with destinations in the Shreveport, Louisiana area (""Caddo Pipeline"") Red River Pipeline 33% Joint venture operates a 16-inch crude oil pipeline between Cushing, Oklahoma and Longview, Texas with prior capacity of 150,000 bpd and increased capacity of 235,000 bpd after completion of the expansion project in October 2020 (""Red River Pipeline"") Logistics Segment Supply Agreement As of January 1, 2018, Delek Logistics purchased products from Delek and third parties at our Abilene and San Angelo terminals. To facilitate these purchases, Delek Logistics constructed a pipeline into our Abilene Terminal to receive product from the pipeline owned by Holly Energy Partners, L.P. (NYSE: HEP) through which Delek shipped product that was produced at the Big Spring refinery. Delek Logistics completed construction of a connection to the Magellan Midstream Partners, L.P. (""Magellan"""
1694426_10K_2024_0001694426-25-000013.json,item_1,(?i)supply\s+agreement,Supply Agreement,"reveport, Louisiana area (""Caddo Pipeline"") Red River Pipeline 33% Joint venture that operates a 350-mile crude oil pipeline with a capacity of 235,000 bpd, between Oklahoma and Texas (the ""Red River Pipeline"") W2W Holdings 50% Joint Venture that owns our 15.6% indirect interest in Wink to Webster, which operates a 650-mile crude oil pipeline system from Wink, Texas to Webster, Texas along with certain pipelines from Webster, Texas to other destinations in the Texas Gulf Coast Logistics Segment Supply Agreement As of January 1, 2018, Delek Logistics purchased products from Delek and third parties at our Abilene and San Angelo terminals. To facilitate these purchases, Delek Logistics constructed a pipeline into our Abilene terminal to receive product from the pipeline owned by Holly Energy Partners, L.P. (NYSE: HEP) through which Delek shipped product that was produced at the Big Spring refinery. Delek Logistics completed construction of a connection to the Magellan Midstream Partners, L.P. (""Magellan"""
1694426_10K_2024_0001694426-25-000013.json,item_7,(?i)supply\s+agreement,supply agreement,"ment Overview Our focus on safe and reliable operations is a pillar which underlines all of our business activities. We continue to identify opportunities to mitigate market risk and focus on efforts that improve our overall cost structure while not compromising operational excellence. During 2024, we made steady progress on our ""sum of the parts"" efforts. We completed the sale of our Retail Stores during the third quarter 2024 for proceeds of $390.2 million and also entered into a 10 year fuel supply agreement whereby Delek will sell to FEMSA certain motor fuel products for use at the Retail Stores. The completion of the Retail Transaction was an important step in our value creation journey and strengthened our balance sheet. Our logistics segment (or ""Logistics"") successfully closed the H2O Midstream Acquisition which expands our gathering footprint in the Midland sub-basin of the Permian, and extended our product offering of wastewater processing and disposal. In addition, in January 2025, the Logi"
1701605_10K_2017_0001701605-18-000029.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"hannel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. Our sales force also uses its application engineers, field application engineers, service engineers, commercial and sales managers, and account executives to help deliver and provide customers with the best product and service solutions which BHGE can offer. No single customer accounted for 10% or more of our revenue in the current year. Our products and services are sold in highly competitive markets and the competitive environment varies by produce line, as discussed below: Oilfield Services Our OFS product line believes that the principal competitive factors in the industries and markets it serves are product and service quality, reliability and availability, health, safety and environmental standards, technical proficiency and price. Our products and services are sold in highly competitive markets and r"
1701605_10K_2017_0001701605-18-000029.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"rimary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. Our sales force also uses its application engineers, field application engineers, service engineers, commercial and sales managers, and account executives to help deliver and provide customers with the best product and service solutions which BHGE can offer. No single customer accounted for 10% or more of our revenue in the current year. Our products and services are sold in highly competitive markets and the competitive environment varies by produce line, as discussed below: Oilfield Services Our OFS product line believes that the principal competitive factors in the industries and markets it serves are product and service quality, reliability and availability, health, safety and environmental standards, technical proficiency and price. Our products and services are sold in highly co"
1701605_10K_2018_0001701605-19-000021.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"built to handle data at an industrial scale, giving customers the power to innovate, and make faster, more confident decisions to maximize performance. MARKETS AND COMPETITION We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. No single customer accounted for 10% or more of our revenue in the current year. Our products and services are sold in highly competitive markets and the competitive environment varies by product line, as discussed below: Oilfield Services Our OFS segment believes that the principal competitive factors in the industries and markets it serves are product and service quality, reliability and availability, health, safety and environmental standards, technical proficiency, and price. Our products and services are sold in highly competitive markets and reven"
1701605_10K_2018_0001701605-19-000021.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"re business is built to handle data at an industrial scale, giving customers the power to innovate, and make faster, more confident decisions to maximize performance. MARKETS AND COMPETITION We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. No single customer accounted for 10% or more of our revenue in the current year. Our products and services are sold in highly competitive markets and the competitive environment varies by product line, as discussed below: Oilfield Services Our OFS segment believes that the principal competitive factors in the industries and markets it serves are product and service quality, reliability and availability, health, safety and environmental standards, technical proficiency, and price. Our products and services are sold in highly compet"
1701605_10K_2019_0001701605-20-000019.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"built to handle data at an industrial scale, giving customers the power to innovate, and make faster, more confident decisions to maximize performance. MARKETS AND COMPETITION We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. No single customer accounted for 10% or more of our revenue in the current year. Baker Hughes Company 2019 FORM 10-K | 5 Our products and services are sold in highly competitive markets and the competitive environment varies by product line, as discussed below: Oilfield Services Our OFS segment believes that the principal competitive factors in the industries and markets it serves are product and service quality, reliability and availability, health, safety and environmental standards, technical proficiency, and price. Our products and services are sold"
1701605_10K_2019_0001701605-20-000019.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"re business is built to handle data at an industrial scale, giving customers the power to innovate, and make faster, more confident decisions to maximize performance. MARKETS AND COMPETITION We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. No single customer accounted for 10% or more of our revenue in the current year. Baker Hughes Company 2019 FORM 10-K | 5 Our products and services are sold in highly competitive markets and the competitive environment varies by product line, as discussed below: Oilfield Services Our OFS segment believes that the principal competitive factors in the industries and markets it serves are product and service quality, reliability and availability, health, safety and environmental standards, technical proficiency, and price. Our product"
1701605_10K_2020_0001701605-21-000026.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% or more of our revenue,"ial value chain. Our four product companies, or operating segments, are organized based on the nature of our markets and customers and consist of similar products and services. We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. No single customer accounted for 10% or more of our revenue in the current year. Our products and services are sold in highly competitive markets and the competitive environment varies by product line. See discussion below by segment. Oilfield Services The Oilfield Services (OFS) segment designs and manufactures products and provides services for onshore and offshore oil & gas operations across the lifecycle of a well, including exploration, drilling, evaluation, completion, production, intervention, and abandonment. OFS products and services include dr"
1701605_10K_2020_0001701605-21-000026.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"gy and industrial value chain. Our four product companies, or operating segments, are organized based on the nature of our markets and customers and consist of similar products and services. We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force, which has a strong regional focus with local teams close to the customer, who are able to draw support from centers of excellence in each of our major product lines. No single customer accounted for 10% or more of our revenue in the current year. Our products and services are sold in highly competitive markets and the competitive environment varies by product line. See discussion below by segment. Oilfield Services The Oilfield Services (OFS) segment designs and manufactures products and provides services for onshore and offshore oil & gas operations across the lifecycle of a well, including exploration, drilling, evaluation, completion, production, intervention, and abandonment. OFS products"
1792580_10K_2019_0001564590-20-005663.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"uction to meet the delivery requirements. In addition, production from the Company’s reserves are not subject to any priorities or curtailments that may affect quantities delivered to its customers or any priority allocations or price limitations imposed by federal or state regulatory agencies, or any other factors beyond the Company’s control that may affect Ovintiv’s ability to meet contractual obligations other than those discussed in Item 1A. Risk Factors of this Annual Report on Form 10-K. MAJOR CUSTOMERS In connection with the marketing and sale of the Company’s production and purchased oil, NGLs and natural gas for the year ended December 31, 2019, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2018 - one customer, Royal Dutch Shell and 2017 - two customers, Royal Dutch Shell Group and Flint Hills Resources). Ovintiv does not believe that the loss of any single customer would have a material adverse effec"
1792580_10K_2019_0001564590-20-005663.json,item_1,(?i)major\s+customer,major customer,"d natural gas for the year ended December 31, 2019, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2018 - one customer, Royal Dutch Shell and 2017 - two customers, Royal Dutch Shell Group and Flint Hills Resources). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition or results of operations. Further information on Ovintiv’s major customers are found in Note 2 of Ovintiv’s audited Consolidated Financial Statements under Item 8 of this Annual Report on Form 10-K. COMPETITION The Company’s competitors include national, integrated and independent oil and gas companies, as well as oil and gas marketers and other participants in other industries supplying energy and fuel to industrial, commercial and individual consumers. All aspects of the oil and gas industry are highly competitive and Ovintiv actively competes with other companies"
1792580_10K_2020_0001564590-21-006570.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"uction to meet the delivery requirements. In addition, production from the Company’s reserves are not subject to any priorities or curtailments that may affect quantities delivered to its customers or any priority allocations or price limitations imposed by federal or state regulatory agencies, or any other factors beyond the Company’s control that may affect Ovintiv’s ability to meet contractual obligations other than those discussed in Item 1A. Risk Factors of this Annual Report on Form 10-K. MAJOR CUSTOMERS In connection with the marketing and sale of the Company’s production and purchased oil, NGLs and natural gas for the year ended December 31, 2020, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2019 - one customer, Vitol Inc. and 2018 - one customer, Royal Dutch Shell). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition o"
1792580_10K_2020_0001564590-21-006570.json,item_1,(?i)major\s+customer,major customer,"’s production and purchased oil, NGLs and natural gas for the year ended December 31, 2020, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2019 - one customer, Vitol Inc. and 2018 - one customer, Royal Dutch Shell). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition or results of operations. Further information on Ovintiv’s major customers are found in Note 2 to Ovintiv’s audited Consolidated Financial Statements under Item 8 of this Annual Report on Form 10-K. COMPETITION The Company’s competitors include national, integrated and independent oil and gas companies, as well as oil and gas marketers and other participants in other industries supplying energy and fuel to industrial, commercial and individual consumers. All aspects of the oil and gas industry are highly competitive and Ovintiv actively competes with other companies"
1792580_10K_2021_0001564590-22-006978.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"y requirements. In addition, oil, NGLs and natural gas production from the Company’s reserves are not subject to any priorities or curtailments that may affect quantities delivered to its customers or any priority allocations or price limitations imposed by federal or state regulatory agencies, or any other factors beyond the Company’s control that may affect Ovintiv’s ability to meet contractual obligations other than those discussed in Item 1A. Risk Factors of this Annual Report on Form 10-K. MAJOR CUSTOMERS In connection with the marketing and sale of the Company’s oil, NGLs and natural gas production and purchased product for the year ended December 31, 2021, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2020 - one customer, Vitol Inc. and 2019 - one customer, Vitol Inc.). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition"
1792580_10K_2021_0001564590-22-006978.json,item_1,(?i)major\s+customer,major customer,"s oil, NGLs and natural gas production and purchased product for the year ended December 31, 2021, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2020 - one customer, Vitol Inc. and 2019 - one customer, Vitol Inc.). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition or results of operations. Further information on Ovintiv’s major customers is found in Note 2 to Ovintiv’s audited Consolidated Financial Statements under Item 8 of this Annual Report on Form 10-K. COMPETITION The Company’s competitors include national, integrated and independent oil and natural gas companies, as well as oil and natural gas marketers and other participants in other industries supplying energy and fuel to industrial, commercial and individual consumers. All aspects of the oil and natural gas industry are highly competitive and Ovintiv actively compete"
1792580_10K_2022_0001564590-23-002595.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"y requirements. In addition, oil, NGLs and natural gas production from the Company’s reserves are not subject to any priorities or curtailments that may affect quantities delivered to its customers or any priority allocations or price limitations imposed by federal or state regulatory agencies, or any other factors beyond the Company’s control that may affect Ovintiv’s ability to meet contractual obligations other than those discussed in Item 1A. Risk Factors of this Annual Report on Form 10-K. MAJOR CUSTOMERS In connection with the marketing and sale of the Company’s oil, NGLs and natural gas production and purchased product for the year ended December 31, 2022, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2021 and 2020 - one customer, Vitol Inc.). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition or results of operations. F"
1792580_10K_2022_0001564590-23-002595.json,item_1,(?i)major\s+customer,major customer,"ng and sale of the Company’s oil, NGLs and natural gas production and purchased product for the year ended December 31, 2022, the Company had one customer, Vitol Inc., which individually accounted for more than 10 percent of the Company’s consolidated revenues (2021 and 2020 - one customer, Vitol Inc.). Ovintiv does not believe that the loss of any single customer would have a material adverse effect on the Company’s financial condition or results of operations. Further information on Ovintiv’s major customers is found in Note 2 to Ovintiv’s audited Consolidated Financial Statements under Item 8 of this Annual Report on Form 10-K. COMPETITION The Company’s competitors include national, integrated and independent oil and natural gas companies, as well as oil and natural gas marketers and other participants in other industries supplying energy and fuel to industrial, commercial and individual consumers. All aspects of the oil and natural gas industry are highly competitive and Ovintiv actively compete"
1841666_10K_2021_0001784031-22-000009.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"ine Option with Enterprise Products Operating LLC (Enterprise Products), thereby acquiring a 33 percent equity interest in Breviloba LLC, which owns the Shin Oak NGL Pipeline (Shin Oak). The long-haul NGL pipeline has capacity of up to 550 MBbl/d and transports NGL production from the Orla area in Northern Reeves County, Texas through the Waha area in Northern Pecos County, Texas, and on to Mont Belvieu, Texas. Shin Oak is operated by Enterprise Products and was placed into service during 2019. MAJOR CUSTOMERS The Company is exposed to credit risk in the event of nonpayment by counterparties, a significant portion of which are concentrated in energy-related industries. The creditworthiness of customers and other counterparties is subject to continuing review, including the use of master netting agreements, where appropriate. During 2021, sales to EGPC and CFE International accounted for approximately 14 percent and 10 percent, respectively, of the Company’s worldwide crude oil, natural gas, and NGLs"
1841666_10K_2022_0001784031-23-000007.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"iness Combination, owned approximately 20 percent of the issued and outstanding shares of Kinetik common stock. Subsequent to the close of the transaction, in March 2022, the Company sold four million of its shares of Kinetik Class A Common Stock for $224 million, reducing the Company’s retained ownership percentage in Kinetik to approximately 13 percent. Upon closing the transaction, the Company no longer consolidated the assets and liabilities of ALTM in its consolidated financial statements. MAJOR CUSTOMERS The Company is exposed to credit risk in the event of nonpayment by counterparties, a significant portion of which are concentrated in energy-related industries. The creditworthiness of customers and other counterparties is subject to continuing review, including the use of master netting agreements, where appropriate. During 2022, sales to EGPC accounted for approximately 15 percent of the Company’s worldwide crude oil, natural gas, and NGLs revenues. During 2021, sales to EGPC and CFE Intern"
1841666_10K_2023_0001784031-24-000003.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"solidated financial statements. Subsequent to the close of the transaction, in March 2022, the Company sold four million of its Kinetik Shares for $224 million, reducing the Company’s ownership in Kinetik to approximately 13 percent. In December 2023, the Company sold an additional 7.5 million of its Kinetik Shares for cash proceeds of $228 million. As of December 31, 2023, the Company owned 13.1 million Kinetik Shares, representing approximately 9 percent of Kinetik’s outstanding common stock. MAJOR CUSTOMERS The Company is exposed to credit risk in the event of nonpayment by counterparties, a significant portion of which are concentrated in energy-related industries. The creditworthiness of customers and other counterparties is subject to continuing review, including the use of master netting agreements, where appropriate. During each of 2023 and 2022, sales to EGPC accounted for approximately 15 percent of the Company’s worldwide crude oil, natural gas, and NGLs revenues. During 2021, sales to EG"
1841666_10K_2024_0002040266-25-000007.json,item_1,(?i)major\s+customer,MAJOR CUSTOMER,"ditional 7.5 million of its Kinetik shares for $228 million. In March 2024, the Company sold its remaining Kinetik shares for cash proceeds of $428 million. The Company had a designated director on the Kinetik board of directors until he resigned from the Kinetik board of directors on April 3, 2024. As a result, the Company is considered to have had significant influence over Kinetik during the periods presented prior to the designated director’s resignation from the Kinetik board of directors. MAJOR CUSTOMERS The Company is exposed to credit risk in the event of nonpayment by counterparties, a significant portion of which are concentrated in energy-related industries. The creditworthiness of customers and other counterparties is subject to continuing review, including the use of master netting agreements, where appropriate. During 2024, sales to EGPC accounted for approximately 17 percent of the Company’s worldwide crude oil, natural gas, and NGLs revenues. During each of 2023 and 2022, sales to EG"
1842022_10K_2021_0001842022-22-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 67%,"ly reliable, timely and cost-competitive service, which is a key distinguishing competitive advantage. Our Operations and Business Segments DT Midstream sets strategic goals, allocates resources, and evaluates performance based on the following two segments: Pipeline and Gathering. For financial information by segment for the last three years, see Note 15, ""Segment and Related Information,"" of the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K. Southwestern and Antero accounted for approximately 67% and 10% of our operating revenues, respectively, for the year ended December 31, 2021. Our operating revenues do not include unconsolidated joint ventures accounted for as equity method investments. Pipeline Segment Description Our Pipeline segment, formerly titled Pipeline and Other, includes our interstate pipelines, intrastate pipelines, storage systems, lateral pipelines and related treatment plants and compression and surface facilities. The Pipeline segment also includes joint venture int"
1842022_10K_2021_0001842022-22-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 37%,"ues DT Midstream primarily provides two types of pipeline and storage services: firm service and interruptible service. The cash flows from our Pipeline operations can be impacted in the short term by seasonality, weather fluctuations and the financial condition of our customers. Our election to enter primarily into firm service contracts with firm reservation charges provides us stable operating performance and cash flows. For the year ended December 31, 2021, revenue from the Pipeline segment accounted for approximately 37% of our consolidated revenues. Competition Natural gas pipeline, gathering lateral pipeline and storage operators compete for customers primarily based on geographic location, which determines connectivity and proximity to supply sources and end uses, as well as price, operating reliability and flexibility, available capacity, and service offerings. Our primary competitors in the natural gas interstate pipelines and transmission market and in the gathering pipelines market include major intersta"
1842022_10K_2021_0001842022-22-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 63%,"ipeline delivering production gas to the Dominion Transmission interconnect PA Michigan Gathering System 100% 333-mile pipeline system in northern Michigan MI Revenues The results of our Gathering operations are influenced by the volumes gathered through our systems. Our election to enter primarily into MVCs underpinned by long-term contracts provides our Gathering segments with stable operating performance and cash flows. For the year ended December 31, 2021, revenue from the Gathering segment accounted for approximately 63% of our consolidated revenue. Competition Our Gathering operations compete for customers based on reputation, operating reliability and flexibility, price and service offerings, including interconnectivity to producer-desired takeaway options (i.e., processing facilities and pipelines). We face competition in signing acreage dedications and MVCs, expanding treating capacity and expanding our system to desirable production basins. Competition customarily is impacted by the level of drilling activ"
1842022_10K_2022_0001842022-23-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 65%,"highly reliable, timely and cost-competitive service, which is a key distinguishing competitive advantage. Our Operations and Business Segments DT Midstream sets strategic goals, allocates resources, and evaluates performance based on the following two segments: Pipeline and Gathering. For financial information by segment for the last three years, see Note 14, ""Segment and Related Information,"" to the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K. Southwestern Energy accounted for approximately 65% of our operating revenues for the year ended December 31, 2022. Our operating revenues do not include revenues of unconsolidated joint ventures accounted for as equity method investments. Pipeline Segment Description Our Pipeline segment includes our interstate pipelines, intrastate pipelines, storage systems, lateral pipelines including related treatment plants and compression and surface facilities. The Pipeline segment also includes joint venture interests in equity method investees which ow"
1842022_10K_2022_0001842022-23-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 37%,"tracts. Approximately 94% of the revenues of our unconsolidated joint ventures are generated under firm service revenue contracts. The earnings of our unconsolidated joint ventures are included in earnings from equity method investees in our Consolidated Statements of Operations. Interruptible service revenue contracts typically contain fixed rates, with total consideration dependent on actual natural gas volumes that flow. For the year ended December 31, 2022, revenue from the Pipeline segment accounted for approximately 37% of our consolidated revenues. The cash flows from our Pipeline operations can be impacted in the short term by seasonality, weather fluctuations and the financial condition of our customers. Competition Our Pipeline operations compete for customers primarily based on geographic location, which determines connectivity and proximity to supply sources and end users, as well as price, operating reliability and flexibility, available capacity, and service offerings. Our primary competitors in the na"
1842022_10K_2022_0001842022-23-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 63%,"wing gas."" For the year ended December 31, 2022, 68% and 20% of our Gathering revenue was generated under firm revenue contracts and flowing gas, respectively. Together, revenues generated under firm revenue contracts and flowing gas account for approximately 88% of our Gathering revenue. For the years ended December 31, 2022 and 2021, average throughput from the Gathering segment was 3.1 Bcf/d and 2.8 Bcf/d, respectively. For the year ended December 31, 2022, revenue from the Gathering segment accounted for approximately 63% of our consolidated revenue. Competition Our Gathering operations compete for customers based on reputation, operating reliability and flexibility, price and service offerings, including interconnectivity to producer-desired takeaway options (i.e., processing facilities and pipelines). We mitigate the risk of competition by signing acreage dedications, entering firm revenue contracts, expanding treating capacity and expanding our systems to desirable production basins. Competition customarily i"
1842022_10K_2023_0001842022-24-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 60%,"service commitments from customers, which may include fixed demand charges, MVCs and acreage dedications. Our Operations and Business Segments DT Midstream sets strategic goals, allocates resources, and evaluates performance based on the following two segments: Pipeline and Gathering. For financial information by segment for the last three years, see Note 14, ""Segment and Related Information,"" to the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K. Southwestern Energy accounted for approximately 60% of our operating revenues for the year ended December 31, 2023. Our operating revenues do not include revenues of unconsolidated joint ventures accounted for as equity method investments. Pipeline Segment Description Our Pipeline segment includes our interstate pipelines, intrastate pipelines, storage systems, lateral pipelines including related treatment plants and compression and surface facilities. The Pipeline segment also includes joint venture interests in equity method investees which ow"
1842022_10K_2023_0001842022-24-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 41%,"acts and approximately 95% of the revenue of our unconsolidated joint ventures was generated under firm service revenue contracts. The earnings of our unconsolidated joint ventures are included in earnings from equity method investees in our Consolidated Statements of Operations. Interruptible service revenue contracts typically contain fixed rates, with total consideration dependent on actual natural gas volumes that flow. For the year ended December 31, 2023, revenue from the Pipeline segment accounted for approximately 41% of our consolidated revenue. The cash flows from our Pipeline operations can be impacted in the short term by seasonality, weather fluctuations and the financial condition of our customers. Competition Our Pipeline operations compete for customers primarily based on geographic location, which determines connectivity and proximity to supply sources and end users, as well as price, operating reliability and flexibility, available capacity, and service offerings. Our primary competitors in the nat"
1842022_10K_2023_0001842022-24-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 59%,"itional revenues are generated from proved developed producing reserves connected to our assets, which we refer to as ""flowing gas."" For the year ended December 31, 2023, 58% and 25% of our Gathering segment revenue was generated under firm revenue contracts and flowing gas, respectively. For the years ended December 31, 2023 and 2022, average throughput from the Gathering segment was 3.0 Bcf/d and 3.1 Bcf/d, respectively. For the year ended December 31, 2023, revenue from the Gathering segment accounted for approximately 59% of our consolidated revenue. Competition Our Gathering operations compete for customers based on reputation, operating reliability and flexibility, price and service offerings, including interconnectivity to producer-desired takeaway options (i.e., processing facilities and pipelines). We mitigate the risk of competition by signing acreage dedications, entering firm revenue contracts, expanding treating capacity and expanding our systems to desirable production basins. Competition customarily i"
1842022_10K_2024_0001842022-25-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 56%,"m firm service commitments from customers, which may include fixed demand charges, MVCs and acreage dedications. Our Operations and Business Segments DT Midstream sets strategic goals, allocates resources, and evaluates performance based on the following two segments: Pipeline and Gathering. For financial information by segment for the last three years, see Note 14, ""Segment and Related Information,"" to the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K. Expand Energy accounted for approximately 56% of our operating revenues for the year ended December 31, 2024. Our operating revenues do not include revenues of unconsolidated joint ventures accounted for as equity method investments. Pipeline Segment Description Our Pipeline segment includes our interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines including related treatment plants and compression and surface facilities. The Pipeline segment also includes joint venture interests in equity method investee"
1842022_10K_2024_0001842022-25-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 45%,"acts and approximately 99% of the revenue of our unconsolidated joint ventures was generated under firm service revenue contracts. The earnings of our unconsolidated joint ventures are included in earnings from equity method investees in our Consolidated Statements of Operations. Interruptible service revenue contracts typically contain fixed rates, with total consideration dependent on actual natural gas volumes that flow. For the year ended December 31, 2024, revenue from the Pipeline segment accounted for approximately 45% of our consolidated revenue. The cash flows from our Pipeline operations can be impacted in the short term by seasonality, weather fluctuations and the financial condition of our customers. Competition Our Pipeline operations compete for customers primarily based on geographic location, which determines connectivity and proximity to supply sources and end users, as well as price, operating reliability and flexibility, available capacity, and service offerings. Our primary competitors in the nat"
1842022_10K_2024_0001842022-25-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 55%,"es are generated from proved developed producing reserves connected to our assets, which we refer to as ""flowing gas."" For the year ended December 31, 2024, approximately 54% and 45% of our Gathering segment revenue was generated under firm revenue contracts and flowing gas, respectively. For the years ended December 31, 2024 and 2023, average throughput from the Gathering segment was 2.9 Bcf/d and 3.0 Bcf/d, respectively. For the year ended December 31, 2024, revenue from the Gathering segment accounted for approximately 55% of our consolidated revenue. Competition Our Gathering operations compete for customers based on reputation, operating reliability and flexibility, price and service offerings, including interconnectivity to producer-desired takeaway options (i.e., processing facilities and pipelines). We mitigate the risk of competition by signing acreage dedications, entering firm revenue contracts, expanding treating capacity and expanding our systems to desirable production basins. Competition customarily i"
315852_10K_2014_0001564590-15-000899.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"“Item 1A. Risk Factors.” Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2015_0001564590-16-013402.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"“Item 1A. Risk Factors.” Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2016_0001564590-17-002025.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"“Item 1A. Risk Factors.” Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2017_0001564590-18-003566.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ee Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2018_0001564590-19-004113.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ee Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2019_0001564590-20-007459.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ee Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2020_0001564590-21-007606.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ee Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2021_0000950170-22-001634.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ee Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Sales prices for natural gas, NGLs and oil production are negotiated based on factors normally considered in the in"
315852_10K_2022_0000950170-23-004687.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"ee Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Natural gas is a commodity, and therefore, we typically receive market-based pricing for our produced natural gas."
315852_10K_2023_0000950170-24-018046.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, crude oil and condensate production from the properties we operate for our working interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For a summary of purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Natural gas is a commodity, and therefore, we typically receive market-based pricing for our produced natural gas."
315852_10K_2024_0000950170-25-026789.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 10%,"tion, see Item 1A. Risk Factors. Marketing and Customers We market the majority of our natural gas, NGLs, and oil production from the properties we operate for our working interest, and that of the other working interest owners. We pay our royalty owners from the sales attributable to our working interest. Natural gas, NGLs and oil purchasers are selected on the basis of price, credit quality and service reliability. For information on purchasers of our natural gas, NGLs and oil production that accounted for 10% or more of consolidated revenue, see Note 2 to our consolidated financial statements. Because alternative purchasers of natural gas and oil are usually readily available, we believe that the loss of any of these purchasers would not have a material adverse effect on our operations. Production from our properties is marketed using methods that are consistent with industry practice. Natural gas is a commodity and, therefore we typically receive market-based pricing for our produced natural gas. S"
33213_10K_2014_0000033213-15-000004.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of revenue,"014, approximately 57% of transportation volumes and 51% of transportation revenues were from affiliates. One customer within the EQT Production segment accounts for approximately 12% and 11% of EQT Production’s total operating revenues in 2014 and 2013, respectively. The Company does not believe that the loss of this customer would have a material adverse effect on its business because alternative customers for the Company’s natural gas are available. No single customer accounted for more than 10% of revenues in 2012. Competition Natural gas producers compete in the acquisition of properties, the search for and development of reserves, the production, transportation and sale of natural gas and the securing of labor and equipment required to conduct operations. Competitors include independent oil and gas companies, major oil and gas companies and individual producers and operators. Competition for natural gas gathering, transmission and storage volumes is primarily based on rates and other commercia"
33213_10K_2014_0000033213-15-000004.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 91%,"m volumes are transported to four major interstate pipelines: Columbia Gas Transmission, East Tennessee Natural Gas Company, Dominion Transmission and Tennessee Gas Pipeline Company. The gathering system also maintains interconnections with the Partnership’s transmission and storage system. Gathering system transportation volumes for 2014 totaled 590.5 TBtu, of which approximately 90% related to gathering for EQT Production and other affiliates. Revenues from EQT Production and other affiliates accounted for approximately 91% of 2014 gathering revenues. Natural Gas Transmission, Storage and Marketing: Natural gas transmission and storage operations are executed using transmission and underground storage facilities owned by the Company. EQT Energy provides marketing services and third-party contractual pipeline capacity management for the benefit of EQT Production and also leases storage capacity in order to take advantage of seasonal spreads where available through the EQT Midstream segment. EQT Energy also engages"
33213_10K_2014_0000033213-15-000004.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 84%,"on for third parties and EQT Production, including $14.7 million related to the AVC facilities, and higher interruptible transmission service. The increase in transmission net operating revenues is the result of increased development activity in the Marcellus Shale. Gathering net operating revenues increased due to a 27% increase in gathered volumes partly offset by an 11% decrease in the average gathering fee. The gathered volume increase was primarily driven by higher affiliate volumes, which accounted for 84% of the increase, as a result of increased activity in the Marcellus play. The average gathering fee decreased due to a higher mix of gathered volumes in the Marcellus play as these volumes have a lower average fee compared to Huron and other volumes. These increases in net operating revenues were partly offset by a decrease in storage, marketing and other net operating revenues as a result of $9.3 million of reduced marketing revenues primarily as a result of the sale of certain energy marketin"
33213_10K_2015_0000033213-16-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 92%,"hering system volumes are transported to four major interstate pipelines: Columbia Gas Transmission, East Tennessee Natural Gas Company, Dominion Transmission and Tennessee Gas Pipeline Company. The gathering system also maintains interconnections with EQM’s transmission and storage system. Gathering system transportation volumes for 2015 totaled 754.3 TBtu, of which approximately 89% related to gathering for EQT Production and other affiliates. Revenues from EQT Production and other affiliates accounted for approximately 92% of 2015 gathering revenues. Natural Gas Transmission and Storage: Natural gas transmission and storage operations are executed using transmission and underground storage facilities owned by the Company. Customers of EQT Midstream’s gas transmission and storage services are affiliates and third parties primarily in the northeastern United States. As of December 31, 2015, the weighted average remaining contract life based on total projected contracted revenues for EQM’s firm transmission and stor"
33213_10K_2015_0000033213-16-000018.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"ergy provides marketing services and third-party contractual pipeline capacity management for the benefit of EQT Production. EQT Energy also engages in risk management and hedging activities on behalf of EQT Production, the objective of which is to limit the Company’s exposure to shifts in market prices. EQT Energy leases third-party storage capacity in order to take advantage of seasonal spreads, where available, through the EQT Midstream segment. One customer within the EQT Production segment accounted for approximately 10%, 12% and 11% of EQT Production’s total operating revenues in 2015, 2014 and 2013, respectively. The Company does not believe that the loss of this customer would have a material adverse effect on its business because alternative customers for the Company’s natural gas are available. Competition Natural gas producers compete in the acquisition of properties, the search for and development of reserves, the production, transportation and sale of natural gas and the securing of labor and equipment"
33213_10K_2016_0000033213-17-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 96%,"the years ended December 31: Average sales price per Mcfe sold (excluding cash settled derivatives) $ 1.99 $ 2.38 $ 4.48 Average sales price per Mcfe sold (including cash settled derivatives) $ 2.47 $ 3.09 $ 4.50 In addition, price information for all products is included in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” under the caption “Consolidated Operational Data,” and incorporated herein by reference. Natural Gas Gathering: EQT Production accounted for approximately 96% and 91% of EQT Gathering's gathering revenues and volumes, respectively, for 2016. EQT Gathering has various firm gas gathering agreements which provide for firm reservation fees in certain high pressure development areas. Including expected future capacity from expansion projects that are not yet fully constructed but for which EQM had entered into firm gathering agreements, approximately 2.5 Bcf per day of firm gathering capacity was subscribed under firm gathering contracts as of December 31"
33213_10K_2016_0000033213-17-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"city management for the benefit of EQT Production and third-parties. EQT Energy also engages in risk management and hedging activities on behalf of EQT Production, the objective of which is to limit the Company’s exposure to shifts in market prices. EQT Energy leases third-party storage capacity in order to take advantage of seasonal spreads, where available. No single customer accounted for more than 10% of EQT's total operating revenues for 2016. One customer within the EQT Production segment accounted for approximately 10% and 12% of EQT's total operating revenues in 2015 and 2014, respectively. The Company believes that the loss of this customer would not have a material adverse effect on its business because alternative customers for the Company's natural gas are available. Competition Natural gas producers compete in the acquisition of properties, the search for and development of reserves, the production, transportation and sale of natural gas and NGLs and the securing of services, labor and equipment require"
33213_10K_2017_0000033213-18-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"ill announce a decision by the end of March, 2018, after considering the committee’s recommendation. See “Capital Resources and Liquidity” in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report on Form 10-K for details regarding the Company’s capital expenditures. Markets and Customers No single customer accounted for more than 10% of EQT's total operating revenues for 2017 and 2016. One customer within the EQT Production segment accounted for approximately 10% of EQT's total operating revenues in 2015. The Company believes that the loss of this customer would not have a material adverse effect on its business because alternative customers for the Company's natural gas are available. Natural Gas Sales: The Company’s produced natural gas is sold to marketers, utilities and industrial customers located in the Appalachian Basin and in the markets available through the Company's current transportation portfolio, which includes markets in the Gulf Coast, M"
33213_10K_2017_0000033213-18-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 89%,"es, for the years ended December 31: Average sales price per Mcfe sold (excluding cash settled derivatives) $ 2.98 $ 1.99 $ 2.38 Average sales price per Mcfe sold (including cash settled derivatives) $ 3.04 $ 2.47 $ 3.09 In addition, price information for all products is included in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” under the caption “Consolidated Operational Data,” and incorporated herein by reference. EQM Gathering: EQT Production accounted for approximately 89% and 84% of EQM Gathering's gathering revenues and volumes, respectively, for 2017. EQM provides gathering services in two manners: firm service and interruptible service. The fixed monthly fee under a firm contract is referred to as a firm reservation fee, which is recognized ratably over the contract period based on the contracted volume regardless of the amount of natural gas that is gathered. If there is available system capacity, customers can flow gas above the firm commitment volumes for"
33213_10K_2017_0000033213-18-000003.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 64%,"ions terminable upon at least 30 days notice. The rates for gathering service on the regulated system are based on the maximum posted tariff rate and assessed on actual receipts into the gathering system. EQM generally does not take title to the natural gas gathered for its customers but retains a percentage of wellhead natural gas receipts to recover natural gas used to run its compressor stations and other requirements on all of its gathering systems. EQM Transmission: In 2017, EQT Production accounted for approximately 64% of transmission volumes and 53% of transmission revenues for EQM Transmission. Other customers include local distribution companies, marketers, other independent producers and commercial and industrial users. EQM's transmission system provides these customers with access to adjacent markets in Pennsylvania, West Virginia and Ohio and also provides access to the Mid-Atlantic, Northeastern, Midwestern and Gulf Coast markets in the United States through interconnect capacity with major interstate"
33213_10K_2024_0000033213-25-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 71%,"nnect points to our transmission and storage system and to other interstate pipelines. In addition, we own a processing facility with capacity of 0.2 Bcf per day. Gathering Customers Our Gathering segment has gathering agreements with our Production segment and third parties. Certain of our Gathering segment's agreements provide us the right to elect to gather all natural gas produced from wells located in specified dedicated acreage. For the year ended December 31, 2024, our Production segment accounted for approximately 71% of our gathering system's throughput and approximately 80% of our Gathering segment's operating revenues. As of December 31, 2024, our gathering system had total contracted firm reservation capacity, including contracted MVCs, of approximately 7.5 Bcf per day. Including future capacity expected from expansion projects that are not yet fully constructed or not yet fully in service for which we have executed firm service contracts, our gathering system had total contracted firm reservation capaci"
33213_10K_2024_0000033213-25-000011.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 64%,"ed 18 natural gas storage reservoirs with a peak withdrawal capacity of approximately 800 MMcf per day and a working gas capacity of approximately 43 Bcf. Transmission Customers Our Transmission segment has transmission and storage agreements with our Production segment and third parties. Third-party transmission and storage customers include local distribution companies, other producers, marketers and commercial and industrial users. For the year ended December 31, 2024, our Production segment accounted for approximately 64% of our transmission assets' throughput and approximately 59% of our Transmission segment's operating revenues. Including future capacity expected from expansion projects that are not yet fully constructed or not yet fully in service for which we have executed firm service contracts, our transmission and storage system had total firm capacity subscribed under transmission contracts of approximately 5.4 Bcf per day and total firm capacity subscribed under storage contracts of 38.4 Bcf as of Decem"
3570_10K_2017_0000003570-18-000031.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total revenue,"of our revenues from external customers for the year ended December 31, 2015 were attributed to the United States. We attribute revenues from external customers to the country in which the party to the applicable agreement has its principal place of business. Substantially all of our long-lived assets are located in the United States. During the year ended December 31, 2017, four customers, BG and its affiliates, Gas Natural Fenosa, KOGAS and JERA Co., Inc., individually accounted for more than 10% of our total revenues from external customers at 24%, 14%, 14% and 17%, respectively. During the year ended December 31, 2016, one customer, BG and its affiliates, individually accounted for more than 10% of our total revenues from external customers at 17%. Natural Gas Transportation, Storage and Supply To ensure SPL is able to transport adequate natural gas feedstock to the Sabine Pass LNG terminal, it has entered into transportation precedent and other agreements to secure firm pipeline transportation capacity w"
3570_10K_2017_0000003570-18-000031.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total revenue,"licable agreement has its principal place of business. Substantially all of our long-lived assets are located in the United States. During the year ended December 31, 2017, four customers, BG and its affiliates, Gas Natural Fenosa, KOGAS and JERA Co., Inc., individually accounted for more than 10% of our total revenues from external customers at 24%, 14%, 14% and 17%, respectively. During the year ended December 31, 2016, one customer, BG and its affiliates, individually accounted for more than 10% of our total revenues from external customers at 17%. Natural Gas Transportation, Storage and Supply To ensure SPL is able to transport adequate natural gas feedstock to the Sabine Pass LNG terminal, it has entered into transportation precedent and other agreements to secure firm pipeline transportation capacity with CTPL and third-party pipeline companies. SPL has entered into firm storage services agreements with third parties to assist in managing volatility in natural gas needs for the SPL Project. SPL has also"
3570_10K_2018_0000003570-19-000030.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total revenue,"SPAs with Total Gas & Power North America, Inc. (“Total”), which is guaranteed by Total S.A., and Centrica plc with annual aggregate fixed fees of approximately $590 million. In addition, Cheniere Marketing has entered into an SPA with SPL to purchase, at Cheniere Marketing’s option, any LNG produced by SPL in excess of that required for other customers. During the year ended December 31, 2018, four customers, BG and its affiliates, Naturgy, KOGAS and GAIL, individually accounted for more than 10% of our total revenues from external customers at 18%, 14%, 19% and 13%, respectively. During the year ended December 31, 2017, four customers, BG and its affiliates, Naturgy, KOGAS and JERA Co., Inc., individually accounted for more than 10% of our total revenues from external customers at 24%, 14%, 14% and 17%, respectively. During the year ended December 31, 2016, two customers, BG and its affiliates and Kansai Electric Power Co., Inc. and its affiliates, individually accounted for more than 10% of our total reve"
3570_10K_2018_0000003570-19-000030.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total revenue,"o purchase, at Cheniere Marketing’s option, any LNG produced by SPL in excess of that required for other customers. During the year ended December 31, 2018, four customers, BG and its affiliates, Naturgy, KOGAS and GAIL, individually accounted for more than 10% of our total revenues from external customers at 18%, 14%, 19% and 13%, respectively. During the year ended December 31, 2017, four customers, BG and its affiliates, Naturgy, KOGAS and JERA Co., Inc., individually accounted for more than 10% of our total revenues from external customers at 24%, 14%, 14% and 17%, respectively. During the year ended December 31, 2016, two customers, BG and its affiliates and Kansai Electric Power Co., Inc. and its affiliates, individually accounted for more than 10% of our total revenues from external customers at 39% and 13%, respectively. Natural Gas Transportation, Storage and Supply To ensure SPL is able to transport adequate natural gas feedstock to the Sabine Pass LNG terminal, it has entered into transportation pr"
3570_10K_2018_0000003570-19-000030.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our total revenue,"of our total revenues from external customers at 18%, 14%, 19% and 13%, respectively. During the year ended December 31, 2017, four customers, BG and its affiliates, Naturgy, KOGAS and JERA Co., Inc., individually accounted for more than 10% of our total revenues from external customers at 24%, 14%, 14% and 17%, respectively. During the year ended December 31, 2016, two customers, BG and its affiliates and Kansai Electric Power Co., Inc. and its affiliates, individually accounted for more than 10% of our total revenues from external customers at 39% and 13%, respectively. Natural Gas Transportation, Storage and Supply To ensure SPL is able to transport adequate natural gas feedstock to the Sabine Pass LNG terminal, it has entered into transportation precedent and other agreements to secure firm pipeline transportation capacity with CTPL and third-party pipeline companies. SPL has entered into firm storage services agreements with third parties to assist in managing variability in natural gas needs for the SP"
3570_10K_2019_0000003570-20-000043.json,item_1,(?i)significant\s+customer,Significant Customer,"ure. The cargoes have been sold either on a FOB basis (delivered to the customer at the Sabine Pass LNG terminal or the Corpus Christi LNG terminal, as applicable) or a delivered at terminal (“DAT”) basis (delivered to the customer at their LNG receiving terminal). We have chartered LNG vessels to be utilized for cargoes sold on a DAT basis. In addition, we have entered into a long-term agreement to sell LNG cargoes on a DAT basis that is conditioned upon the buyer achieving certain milestones. Significant Customers The following table shows customers with revenues of 10% or greater of total revenues from external customers: Percentage of Total Revenues from External Customers Year Ended December 31, BG and its affiliates 16% 18% 24% Naturgy 10% 14% 14% KOGAS 11% 19% 14% GAIL 11% 13% * JERA Co., Inc. * * 17% * Less than 10% Competition If and when SPL, CCL or our integrated marketing function need to replace any existing SPA or enter into new SPAs, they will compete on the basis of price per contracted vo"
3570_10K_2019_0000003570-20-000043.json,item_1,(?i)supply\s+agreement,supply agreement,"of up to 266,000 cubic meters. We have contracted approximately 85% of the total production capacity from the SPL Project and the CCL Project (collectively, the “Liquefaction Projects”) on a term basis. This includes volumes contracted under SPAs in which the customers are required to pay a fixed fee with respect to the contracted volumes irrespective of their election to cancel or suspend deliveries of LNG cargoes, as well as volumes contracted under integrated production marketing (“IPM”) gas supply agreements. Additionally, separate from the CCH Group, we are developing an expansion of the Corpus Christi LNG terminal adjacent to the CCL Project (“Corpus Christi Stage 3”) through our subsidiary Cheniere Corpus Christi Liquefaction Stage III, LLC (“CCL Stage III”) for up to seven midscale Trains with an expected total production capacity of approximately 10 mtpa of LNG. We received approval from FERC in November 2019 to site, construct and operate the expansion project. We remain focused on operation"
3570_10K_2019_0000003570-20-000043.json,item_1,(?i)supply\s+agreement,supply agreement,"aranteed by Naturgy Energy Group, S.A. The average annual contracted cash flow from fixed fees for all of CCL’s other SPAs with third-parties is approximately $790 million. In addition, Cheniere Marketing has agreements with CCL to purchase: (1) 15 TBtu per annum of LNG with an approximate term of 23 years, (2) any LNG produced by CCL in excess of that required for other customers at Cheniere Marketing’s option and (3) 0.85 mtpa of LNG with a term of up to seven years associated with an IPM gas supply agreement, as described below. See Marketing section for additional information regarding agreements entered into by Cheniere Marketing. Natural Gas Transportation, Storage and Supply To ensure CCL is able to transport adequate natural gas feedstock to the Corpus Christi LNG terminal, it has entered into transportation precedent agreements to secure firm pipeline transportation capacity with CCP and certain third-party pipeline companies. CCL has entered into a firm storage services agreement with a thir"
3570_10K_2019_0000003570-20-000043.json,item_1,(?i)supply\s+agreement,supply agreement,"ntain fixed fees that are required to be paid even if the customers elect to cancel or suspend delivery of LNG cargoes. We have contracted approximately 85% of the total production capacity from the Liquefaction Projects on a term basis, which includes volumes contracted under SPAs in which the customers are required to pay a fixed fee with respect to the contracted volumes irrespective of their election to cancel or suspend deliveries of LNG cargoes, as well as volumes contracted under IPM gas supply agreements. As of January 31, 2020, U.S. natural gas prices indicate that LNG exported from the U.S. continues to be competitively priced, supporting the opportunity for U.S. LNG to fill uncontracted future demand through the execution of long-term and medium-term contracting of LNG from our terminals. Subsidiaries Our assets are generally held by our subsidiaries. We conduct most of our business through these subsidiaries, including the development, construction and operation of our LNG terminal busines"
3570_10K_2019_0000003570-20-000043.json,item_7,(?i)supply\s+agreement,supply agreement,"of up to 266,000 cubic meters. We have contracted approximately 85% of the total production capacity from the SPL Project and the CCL Project (collectively, the “Liquefaction Projects”) on a term basis. This includes volumes contracted under SPAs in which the customers are required to pay a fixed fee with respect to the contracted volumes irrespective of their election to cancel or suspend deliveries of LNG cargoes, as well as volumes contracted under integrated production marketing (“IPM”) gas supply agreements. Additionally, separate from the CCH Group, we are developing an expansion of the Corpus Christi LNG terminal adjacent to the CCL Project (“Corpus Christi Stage 3”) through our subsidiary CCL Stage III for up to seven midscale Trains with an expected total production capacity of approximately 10 mtpa of LNG. We received approval from FERC in November 2019 to site, construct and operate the expansion project. We remain focused on operational excellence and customer satisfaction. Increasing dema"
3570_10K_2019_0000003570-20-000043.json,item_7,(?i)supply\s+agreement,supply agreement,"the date of first commercial delivery for Train 2 and further increasing to approximately $1.8 billion following the substantial completion of Train 3 of the CCL Project. In addition, Cheniere Marketing has agreements with CCL to purchase: (1) 15 TBtu per annum of LNG with an approximate term of 23 years, (2) any LNG produced by CCL in excess of that required for other customers at Cheniere Marketing’s option and (3) 0.85 mtpa of LNG with a term of up to seven years associated with the IPM gas supply agreement between CCL and EOG. See Marketing section for additional information regarding agreements entered into by Cheniere Marketing. Natural Gas Transportation, Storage and Supply To ensure CCL is able to transport adequate natural gas feedstock to the Corpus Christi LNG terminal, it has entered into transportation precedent agreements to secure firm pipeline transportation capacity with CCP and certain third-party pipeline companies. CCL has entered into a firm storage services agreement with a thir"
3570_10K_2019_0000003570-20-000043.json,item_7,(?i)supply\s+agreement,supply agreement,"dingly. We include contracts for which we have an early termination option if the option is not expected to be exercised. (6) Construction obligations primarily consist of the estimated remaining cost pursuant to our EPC contracts as of December 31, 2019 for Trains with respect to which we have made an FID to commence construction. A discussion of these obligations can be found at Note 19-Commitments and Contingencies of our Notes to Consolidated Financial Statements. (7) Pricing of natural gas supply agreements are based on estimated forward prices and basis spreads as of December 31, 2019. (8) Other purchase obligations primarily relate to payments under SPL’s partial TUA assignment agreement with Total as discussed in Note 13-Revenues from Contracts with Customers of our Notes to Consolidated Financial Statements. In addition, as of December 31, 2019, we had $1,470 million aggregate amount of issued letters of credit under our credit facilities. We also had tax agreements with certain local taxing"
3570_10K_2020_0000003570-21-000039.json,item_1,(?i)significant\s+customer,Significant Customer,"4,995 TBtu of LNG to be delivered to customers between 2021 and 2045, including volume from an SPA Cheniere Marketing has committed to provide to SPL. The cargoes have been sold either on a FOB basis (delivered to the customer at the Sabine Pass LNG terminal or the Corpus Christi LNG terminal, as applicable) or a delivered at terminal (“DAT”) basis (delivered to the customer at their specified LNG receiving terminal). We have chartered LNG vessels to be utilized for cargoes sold on a DAT basis. Significant Customers The following table shows customers with revenues of 10% or greater of total revenues from external customers: Percentage of Total Revenues from External Customers Year Ended December 31, 2020 2019 2018 BG and its affiliates 14% 16% 18% Naturgy 12% 10% 14% KOGAS 10% 11% 19% GAIL 10% 11% 13% Competition If and when SPL, CCL or our integrated marketing function need to replace any existing SPA or enter into new SPAs, they will compete on the basis of price per contracted volume of LNG with each"
3570_10K_2020_0000003570-21-000039.json,item_1,(?i)supply\s+agreement,supply agreement,"l production capacity from the SPL Project and the CCL Project (collectively, the “Liquefaction Projects”) on a term basis, with approximately 18 years of average remaining life as of December 31, 2020. This includes volumes contracted under SPAs in which the customers are required to pay a fixed fee with respect to the contracted volumes irrespective of their election to cancel or suspend deliveries of LNG cargoes, as well as volumes contracted under integrated production marketing (“IPM”) gas supply agreements. Additionally, separate from the CCH Group, we are developing an expansion of the Corpus Christi LNG terminal adjacent to the CCL Project (“Corpus Christi Stage 3”) through our subsidiary Cheniere Corpus Christi Liquefaction Stage III, LLC (“CCL Stage III”) for up to seven midscale Trains with an expected total production capacity of approximately 10 mtpa of LNG. We received approval from FERC in November 2019 to site, construct and operate the expansion project. We remain focused on operation"
3570_10K_2020_0000003570-21-000039.json,item_1,(?i)supply\s+agreement,supply agreement,"oup, S.A. The annual aggregate contracted cash flow from fixed fees for all of CCL’s other SPAs with third-parties is approximately $790 million. In addition, Cheniere Marketing has agreements with CCL to purchase: (1) approximately 15 TBtu per annum of LNG with an approximate term of 23 years, (2) any LNG produced by CCL in excess of that required for other customers at Cheniere Marketing’s option and (3) approximately 44 TBtu of LNG with a term of up to seven years associated with the IPM gas supply agreement between CCL and EOG Resources, Inc. See Marketing section for additional information regarding agreements entered into by Cheniere Marketing. Natural Gas Transportation, Storage and Supply To ensure CCL is able to transport adequate natural gas feedstock to the Corpus Christi LNG terminal, it has entered into transportation precedent agreements to secure firm pipeline transportation capacity with CCP and certain third-party pipeline companies. CCL has entered into a firm storage services agreem"
3570_10K_2020_0000003570-21-000039.json,item_1,(?i)supply\s+agreement,supply agreement,"ncel or suspend delivery of LNG cargoes. We have contracted approximately 85% of the total production capacity from the Liquefaction Projects on a term basis, with approximately 18 years of average remaining life as of December 31, 2020, which includes volumes contracted under SPAs in which the customers are required to pay a fixed fee with respect to the contracted volumes irrespective of their election to cancel or suspend deliveries of LNG cargoes, as well as volumes contracted under IPM gas supply agreements. As of January 31, 2021, U.S. natural gas prices indicate that LNG exported from the U.S. continues to be competitively priced, supporting the opportunity for U.S. LNG to fill uncontracted future demand through the execution of long-term and medium-term contracting of LNG from our terminals. Subsidiaries Our assets are generally held by our subsidiaries. We conduct most of our business through these subsidiaries, including the development, construction and operation of our LNG terminal busines"
3570_10K_2020_0000003570-21-000039.json,item_7,(?i)supply\s+agreement,supply agreement,"l production capacity from the SPL Project and the CCL Project (collectively, the “Liquefaction Projects”) on a term basis, with approximately 18 years of average remaining life as of December 31, 2020. This includes volumes contracted under SPAs in which the customers are required to pay a fixed fee with respect to the contracted volumes irrespective of their election to cancel or suspend deliveries of LNG cargoes, as well as volumes contracted under integrated production marketing (“IPM”) gas supply agreements. Additionally, separate from the CCH Group, we are developing an expansion of the Corpus Christi LNG terminal adjacent to the CCL Project (“Corpus Christi Stage 3”) through our subsidiary CCL Stage III for up to seven midscale Trains with an expected total production capacity of approximately 10 mtpa of LNG. We received approval from FERC in November 2019 to site, construct and operate the expansion project. We remain focused on operational excellence and customer satisfaction. Increasing dema"
3570_10K_2020_0000003570-21-000039.json,item_7,(?i)supply\s+agreement,supply agreement,"$1.4 billion for Trains 1 and 2 and increasing to approximately $1.8 billion following the substantial completion of Train 3 of the CCL Project. In addition, Cheniere Marketing has agreements with CCL to purchase: (1) approximately 15 TBtu per annum of LNG with an approximate term of 23 years, (2) any LNG produced by CCL in excess of that required for other customers at Cheniere Marketing’s option and (3) approximately 44 TBtu of LNG with a term of up to seven years associated with the IPM gas supply agreement between CCL and EOG Resources, Inc. See Marketing section for additional information regarding agreements entered into by Cheniere Marketing. Natural Gas Transportation, Storage and Supply To ensure CCL is able to transport adequate natural gas feedstock to the Corpus Christi LNG terminal, it has entered into transportation precedent agreements to secure firm pipeline transportation capacity with CCP and certain third-party pipeline companies. CCL has entered into a firm storage services agreem"
3570_10K_2020_0000003570-21-000039.json,item_7,(?i)supply\s+agreement,supply agreement,"dingly. We include contracts for which we have an early termination option if the option is not expected to be exercised. (6)Construction obligations primarily consist of the estimated remaining cost pursuant to our EPC contracts as of December 31, 2020 for projects with respect to which we have made an FID to commence construction. A discussion of these obligations can be found at Note 20-Commitments and Contingencies of our Notes to Consolidated Financial Statements. (7)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2020. Natural gas supply, transportation and storage service agreements includes $1.5 billion in payments under agreements with related parties as discussed in Note 14-Related Party Transactions of our Notes to Consolidated Financial Statements. (8)Other purchase obligations primarily relate to payments under SPL’s partial TUA assignment agreement with Total as discussed in Note 13-Revenues from Contracts with Customers"
3570_10K_2021_0000003570-22-000024.json,item_1,(?i)supply\s+agreement,supply agreement,"by vessel from the Sabine Pass LNG terminal through December 31, 2050: FERC Approved Volume DOE Approved Volume (in Bcf/yr) (in mtpa) (in Bcf/yr) (in mtpa) FTA countries 1,661.94 33 1,661.94 33 Non-FTA countries 1,661.94 33 1,509.3 (1) 30 (1)The authorization for an additional 152.64 Bcf/yr (approximately 3 mtpa) of natural gas is currently pending. Natural Gas Supply, Transportation and Storage SPL has secured natural gas feedstock for the Sabine Pass LNG terminal through long-term natural gas supply agreements. Additionally, to ensure that SPL is able to transport natural gas feedstock to the Sabine Pass LNG terminal and manage inventory levels, it has entered into transportation precedent and other agreements to secure firm pipeline transportation and storage capacity from third parties. Regasification Facilities The Sabine Pass LNG terminal has operational regasification capacity of approximately 4 Bcf/d and aggregate LNG storage capacity of approximately 17 Bcfe. SPLNG has entered into two long-t"
3570_10K_2021_0000003570-22-000024.json,item_7,(?i)supply\s+agreement,supply agreement,"ic •In February 2022, CCL Stage III amended the IPM agreement previously entered into with EOG Resources, Inc. (“EOG”), increasing the volume and term of natural gas supply from 140,000 MMBtu per day for 10 years, to 420,000 MMBtu per day for 15 years, with pricing continuing to be based on the Platts Japan Korea Marker (“JKM”). Under the amended IPM agreement, supply is targeted to commence upon completion of Trains 1, 4 and 5 of Corpus Christi Stage 3. In addition, the previously executed gas supply agreement (“GSA”), under which EOG sells 300,000 MMBtu per day to CCL Stage III at a price indexed to Henry Hub, has been extended by 5 years, resulting in a 15 year term that is expected to commence upon start-up of the amended IPM agreement. •In September 2021, our board of directors (our “Board”) approved a long-term capital allocation plan which includes (1) the repurchase, repayment or retirement of approximately $1.0 billion of existing indebtedness of the Company each year through 2024 with the in"
3570_10K_2021_0000003570-22-000024.json,item_7,(?i)supply\s+agreement,supply agreement,"or Operations and Capital Expenditures under Executed Contracts We are committed to make future cash payments for operations and capital expenditures pursuant to certain of our contracts. The following table summarizes our estimate of material cash requirements for operations and capital expenditures under executed contracts as of December 31, 2021 (in billions): Estimated Payments Due Under Executed Contracts by Period (1) 2022 2023 - 2026 Thereafter Total Purchase obligations (2): Natural gas supply agreements (3) $ 8.4 $ 15.3 $ 12.5 $ 36.2 Natural gas transportation and storage service agreements (4) 0.4 1.6 4.0 6.0 Capital expenditures (5) 0.2 - - 0.2 Other purchase obligations (6) 0.4 0.6 0.6 1.6 Leases (7) 0.8 2.0 0.9 3.7 Total $ 10.2 $ 19.5 $ 18.0 $ 47.7 (1)Excludes contracts for which conditions precedent have not been met. Agreements in force as of December 31, 2021 that have terms dependent on project milestone dates are based on the estimated dates as of December 31, 2021. The estimates abo"
3570_10K_2021_0000003570-22-000024.json,item_7,(?i)supply\s+agreement,supply agreement,"factors described in this annual report on Form 10-K. (2)Purchase obligations consist of agreements to purchase goods or services that are enforceable and legally binding that specify fixed or minimum quantities to be purchased. As project milestones and other conditions precedent are achieved, our obligations are expected to increase accordingly. We include contracts for which we have an early termination option if the option is not currently expected to be exercised. (3)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2021. Pricing of IPM agreements is based on global gas market prices less fixed liquefaction fees and certain costs incurred by us. Does not include incremental volumes of approximately 1,790 TBtu and 548 TBtu, respectively, pursuant to an amended IPM agreement and GSA with EOG that was executed subsequent to December 31, 2021, a portion of which is conditional on the in-service date of certain asset infrastructure and s"
3570_10K_2022_0000003570-23-000042.json,item_1,(?i)supply\s+agreement,supply agreement,"te the SPL Project and the orders we have received from the DOE authorizing the export of domestically produced LNG by vessel from the Sabine Pass LNG Terminal through December 31, 2050: FERC Approved Volume DOE Approved Volume (in Bcf/yr) (in mtpa) (in Bcf/yr) (in mtpa) FTA countries 1,661.94 33 1,661.94 33 Non-FTA countries 1,661.94 33 1,661.94 33 Natural Gas Supply, Transportation and Storage SPL has secured natural gas feedstock for the Sabine Pass LNG Terminal through long-term natural gas supply agreements, including an IPM agreement. Additionally, to ensure that SPL is able to transport natural gas feedstock to the Sabine Pass LNG Terminal and manage inventory levels, it has entered into firm pipeline transportation and storage contracts with third parties. Regasification Facilities The Sabine Pass LNG Terminal, as described above under the caption General, has operational regasification capacity of approximately 4 Bcf/d and aggregate LNG storage capacity of approximately 17 Bcfe. SPLNG has a l"
3570_10K_2022_0000003570-23-000042.json,item_1,(?i)customer\s+concentration,Customer Concentration,"racted by CCL or SPL to other customers through Cheniere Marketing, our integrated marketing function. We have, and continue to develop, a portfolio of long-, medium- and short-term SPAs to transport and deliver commercial LNG cargoes to locations worldwide. Customers Information regarding our customer contracts can be found in Liquidity and Capital Resources in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. For additional information, see Note 21-Customer Concentration of our Notes to Consolidated Financial Statements. The following table shows customers with revenues of 10% or greater of total revenues from external customers: Percentage of Total Revenues from External Customers Year Ended December 31, 2022 2021 2020 BG Gulf Coast LNG, LLC and affiliates * 12% 14% Naturgy LNG GOM, Limited * 12% 12% Korea Gas Corporation * 10% 10% GAIL (India) Limited * * 10% * Less than 10% All of the above customers contribute to our LNG revenues through SPA contracts. Gove"
3570_10K_2022_0000003570-23-000042.json,item_7,(?i)supply\s+agreement,supply agreement,"d by Cheniere Marketing. ◦In February 2022, CCL Stage III amended the IPM agreement previously entered into with EOG Resources, Inc. (“EOG”), increasing the volume and term of natural gas supply from 140,000 MMBtu per day for 10 years, to 420,000 MMBtu per day for 15 years, with pricing continuing to be based on JKM. Under the amended IPM agreement, supply is targeted to commence upon completion of Trains 1, 4 and 5 of the Corpus Christi Stage 3 Project. In addition, the previously executed gas supply agreement, under which EOG sells 300,000 MMBtu per day to CCL Stage III at a price indexed to Henry Hub, was extended by 5 years, resulting in a 15 year term that is expected to commence upon start-up of the amended IPM agreement. The LNG associated with this gas supply, approximately 2.55 mtpa, will be owned and marketed by Cheniere Marketing. Operational •As of February 17, 2023, approximately 2,650 cumulative LNG cargoes totaling over 180 million tonnes of LNG have been produced, loaded and exported f"
3570_10K_2022_0000003570-23-000042.json,item_7,(?i)supply\s+agreement,supply agreement,"or Operations and Capital Expenditures under Executed Contracts We are committed to make future cash payments for operations and capital expenditures pursuant to certain of our contracts. The following table summarizes our estimate of material cash requirements for operations and capital expenditures under executed contracts as of December 31, 2022 (in billions): Estimated Payments Due Under Executed Contracts by Period (1) 2023 2024 - 2027 Thereafter Total Purchase obligations (2): Natural gas supply agreements (3) $ 10.5 $ 26.2 $ 29.2 $ 65.9 Natural gas transportation and storage service agreements (4) 0.5 2.1 5.4 8.0 Capital expenditures 1.0 3.1 - 4.1 Other purchase obligations (5) 0.2 0.6 0.6 1.4 Leases (6) 0.8 3.0 3.3 7.1 Total $ 13.0 $ 35.0 $ 38.5 $ 86.5 (1)Agreements in force as of December 31, 2022 that have terms dependent on project milestone dates are based on the estimated dates as of December 31, 2022. The estimates above reflect management’s assumptions and currently known market conditi"
3570_10K_2022_0000003570-23-000042.json,item_7,(?i)supply\s+agreement,supply agreement,"ariety of factors described in this annual report on Form 10-K. (2)Purchase obligations consist of agreements to purchase goods or services that are enforceable and legally binding that specify fixed or minimum quantities to be purchased. We include contracts for which we have an early termination option if the option is not currently expected to be exercised. We include contracts with unsatisfied conditions precedent if the conditions are currently expected to be met. (3)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2022. Pricing of IPM agreements is based on global gas market prices less fixed liquefaction fees and certain costs incurred by us. Includes $0.4 billion under natural gas supply agreements with unsatisfied conditions precedent. (4)Includes $1.4 billion of purchase obligations to related parties under the natural gas transportation and storage service agreements. Also includes $1.2 billion under natural gas transportatio"
3570_10K_2022_0000003570-23-000042.json,item_7,(?i)supply\s+agreement,supply agreement,"which we have an early termination option if the option is not currently expected to be exercised. We include contracts with unsatisfied conditions precedent if the conditions are currently expected to be met. (3)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2022. Pricing of IPM agreements is based on global gas market prices less fixed liquefaction fees and certain costs incurred by us. Includes $0.4 billion under natural gas supply agreements with unsatisfied conditions precedent. (4)Includes $1.4 billion of purchase obligations to related parties under the natural gas transportation and storage service agreements. Also includes $1.2 billion under natural gas transportation and storage service agreements with unsatisfied conditions precedent. (5)Other purchase obligations include payments under SPL’s partial TUA assignment agreement with TotalEnergies, as discussed in Regasification Revenues above. (6)Leases include payments under"
3570_10K_2023_0000003570-24-000040.json,item_1,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of total revenue,"secure firm pipeline transportation and storage capacity from third parties and CCP. Marketing We market and sell LNG produced by the Liquefaction Projects that is not contracted by CCL or SPL to other customers through Cheniere Marketing, our integrated marketing function. We have, and continue to develop, a portfolio of long-, medium- and short-term SPAs to transport and deliver commercial LNG cargoes to locations worldwide. Customers The concentration of our customer credit risk in excess of 10% of total revenues was as follows: Percentage of Total Revenues from External Customers Year Ended December 31, 2023 2022 2021 BG Gulf Coast LNG, LLC and affiliates * * 12% Naturgy LNG GOM, Limited * * 12% Korea Gas Corporation * * 10% * Less than 10% All of the above customers contribute to our LNG revenues through SPA contracts. Additional information regarding our customer contracts can be found in Liquidity and Capital Resources in Item 7. Management’s Discussion and Analysis of Financial Condition and Resul"
3570_10K_2023_0000003570-24-000040.json,item_1,(?i)supply\s+agreement,supply agreement,"e the Trains at the SPL Project and the orders we have received from the DOE authorizing the export of domestically produced LNG by vessel from the Sabine Pass LNG Terminal through December 31, 2050: FERC Approved Volume DOE Approved Volume (in Bcf/yr) (in mtpa) (in Bcf/yr) (in mtpa) FTA countries 1,661.94 33 1,661.94 33 Non-FTA countries 1,661.94 33 1,661.94 33 Natural Gas Supply, Transportation and Storage SPL has secured natural gas feedstock for the SPL Project through long-term natural gas supply agreements, including an IPM agreement. SPL Stage V has also entered into an IPM agreement to supply the SPL Expansion Project, subject to Cheniere making a positive FID on the first train of the SPL Expansion Project. Additionally, to ensure that SPL is able to transport natural gas feedstock to the SPL Project and manage inventory levels, it has entered into firm pipeline transportation and storage contracts with third parties and CTPL. Regasification Facilities The Sabine Pass LNG Terminal, as describ"
3570_10K_2023_0000003570-24-000040.json,item_1,(?i)supply\s+agreement,supply agreement,"Terminal through December 31, 2050: FERC Approved Volume DOE Approved Volume (in Bcf/yr) (in mtpa) (in Bcf/yr) (in mtpa) Trains 1 through 3 of the CCL Project: FTA countries 875.16 17 875.16 17 Non-FTA countries 875.16 17 875.16 17 Corpus Christi Stage 3 Project: FTA countries 582.14 11.45 582.14 11.45 Non-FTA countries 582.14 11.45 582.14 11.45 Natural Gas Supply, Transportation and Storage CCL has secured natural gas feedstock for the Corpus Christi LNG Terminal through long-term natural gas supply agreements, including IPM agreements. Additionally, to ensure that CCL is able to transport and manage the natural gas feedstock to the Corpus Christi LNG Terminal, it has entered into transportation precedent and other agreements to secure firm pipeline transportation and storage capacity from third parties and CCP. Marketing We market and sell LNG produced by the Liquefaction Projects that is not contracted by CCL or SPL to other customers through Cheniere Marketing, our integrated marketing function."
3570_10K_2023_0000003570-24-000040.json,item_1,(?i)customer\s+concentration,Customer Concentration,"of Total Revenues from External Customers Year Ended December 31, 2023 2022 2021 BG Gulf Coast LNG, LLC and affiliates * * 12% Naturgy LNG GOM, Limited * * 12% Korea Gas Corporation * * 10% * Less than 10% All of the above customers contribute to our LNG revenues through SPA contracts. Additional information regarding our customer contracts can be found in Liquidity and Capital Resources in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 21-Customer Concentration of our Notes to Consolidated Financial Statements. Governmental Regulation Our LNG terminals and pipelines are subject to extensive regulation under federal, state and local statutes, rules, regulations and laws. These laws require that we engage in consultations with appropriate federal and state agencies and that we obtain and maintain applicable permits and other authorizations. These rigorous regulatory requirements increase the cost of construction and operation, and failure to comply with"
3570_10K_2023_0000003570-24-000040.json,item_7,(?i)supply\s+agreement,supply agreement,"ditures under Executed Contracts We are committed to make future cash payments for operations and capital expenditures pursuant to certain of our contracts. The following table summarizes our estimate of material cash requirements for operations and capital expenditures related to our core operations under executed contracts as of December 31, 2023 (in billions): Estimated Payments Due Under Executed Contracts by Period (1) 2024 2025 - 2028 Thereafter Total Purchase obligations (2): Natural gas supply agreements (3) $ 5.8 $ 20.2 $ 25.4 $ 51.4 Natural gas transportation and storage service agreements (4) 0.5 2.0 4.9 7.4 Capital expenditures 1.2 1.7 - 2.9 Leases (5) 0.9 3.0 3.7 7.6 Total $ 8.4 $ 26.9 $ 34.0 $ 69.3 (1)Agreements in force as of December 31, 2023 that have terms dependent on project milestone dates are based on the estimated dates as of December 31, 2023. (2)Purchase obligations consist of agreements to purchase goods or services that are enforceable and legally binding that specify fixed"
3570_10K_2023_0000003570-24-000040.json,item_7,(?i)supply\s+agreement,supply agreement,"tes are based on the estimated dates as of December 31, 2023. (2)Purchase obligations consist of agreements to purchase goods or services that are enforceable and legally binding that specify fixed or minimum quantities to be purchased. We include contracts for which we have an early termination option if the option is not currently expected to be exercised. We include contracts with unsatisfied contractual conditions if the conditions are currently expected to be met. (3)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2023. Pricing of IPM agreements is based on global gas market prices less fixed liquefaction fees and certain costs incurred by us. Global gas market prices are based on estimates as of December 31, 2023 to the extent forward prices are not available and assume the highest price in cases of price optionality available under the agreement. Includes $0.8 billion under natural gas supply agreements with unsatisfied contract"
3570_10K_2023_0000003570-24-000040.json,item_7,(?i)supply\s+agreement,supply agreement,"(3)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2023. Pricing of IPM agreements is based on global gas market prices less fixed liquefaction fees and certain costs incurred by us. Global gas market prices are based on estimates as of December 31, 2023 to the extent forward prices are not available and assume the highest price in cases of price optionality available under the agreement. Includes $0.8 billion under natural gas supply agreements with unsatisfied contractual conditions. (4)Includes $1.3 billion of purchase obligations to related parties under the natural gas transportation and storage service agreements, of which $1.0 billion had unsatisfied contractual conditions. (5)Leases include payments under (1) operating leases, (2) finance leases, (3) short-term leases and (4) vessel time charters that were executed as of December 31, 2023 but will commence in the future. Certain of our leases also contain variable payments, su"
3570_10K_2023_0000003570-24-000040.json,item_7,(?i)supply\s+agreement,supply agreement,"certain to be exercised. We subcharter certain LNG vessels while retaining our existing obligation under the original charter. Future income associated with our subcharters was $510 million, inclusive of, as described in Note 12-Leases of our Notes to Consolidated Financial Statements, $163 million qualifying as subleases. Natural Gas Supply, Transportation and Storage Service Agreements We have secured natural gas feedstock for the CCL Project and the SPL Project through long-term natural gas supply agreements, including IPM agreements. Under our IPM agreements, we pay for natural gas feedstock based on global gas market prices less fixed liquefaction fees and certain costs incurred by us. While IPM agreements are not revenue contracts for accounting purposes, the payment structure for the purchase of natural gas under the IPM agreements generates a take-or-pay style fixed liquefaction fee, assuming that LNG produced from the natural gas feedstock is subsequently sold at a price approximating the gl"
3570_10K_2024_0000003570-25-000033.json,item_1,(?i)major\s+customer,Major Customer,"sure that CCL is able to transport and manage the natural gas feedstock to the Corpus Christi LNG Terminal, it has transportation precedent and other agreements to secure firm pipeline transportation and storage capacity from third parties and CCP. Marketing LNG produced by the Liquefaction Projects that is not contracted under long-term contracts is available for Cheniere Marketing, our integrated marketing function, to sell in the global market under spot sales or other short-term agreements. Major Customers We did not have any customers accounting for 10% or more of total consolidated revenues for the year ended December 31, 2024. Additional information regarding our customer contracts can be found in Liquidity and Capital Resources in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 20-Customer Concentration of our Notes to Consolidated Financial Statements. Governmental Regulation Our LNG terminals and pipelines are subject to extensive regu"
3570_10K_2024_0000003570-25-000033.json,item_1,(?i)supply\s+agreement,supply agreement,"0: FERC Approved Volume DOE Approved Volume (in Bcf/yr) (in mtpa) (in Bcf/yr) (in mtpa) FTA countries (1) 1,661.94 33 1,661.94 33 Non-FTA countries 1,661.94 33 1,661.94 33 (1)Excludes 899 Bcf/yr to FTA countries authorized in October 2024 for the SPL Expansion Project that is not effective until the date of first commercial export from the SPL Expansion Project. Natural Gas Supply, Transportation and Storage SPL has secured natural gas feedstock for the SPL Project through long-term natural gas supply agreements, including an IPM agreement. SPL Stage V also has an IPM agreement to supply the SPL Expansion Project, subject to Cheniere making a positive FID on the first train of the SPL Expansion Project. Additionally, to ensure that SPL is able to transport and manage the natural gas feedstock to the Sabine Pass LNG Terminal, it has transportation precedent and other agreements to secure firm pipeline transportation and storage capacity from third parties and CTPL. Regasification Facilities The Sabine"
3570_10K_2024_0000003570-25-000033.json,item_1,(?i)supply\s+agreement,supply agreement,"75.16 17 875.16 17 Corpus Christi Stage 3 Project: FTA countries 582.14 11.45 582.14 11.45 Non-FTA countries 582.14 11.45 582.14 11.45 (1)Excludes 170 Bcf/yr to FTA countries authorized in July 2023 for the CCL Midscale Trains 8 & 9 Project that is not effective until the date of first commercial export from the CCL Midscale Trains 8 & 9 Project. Natural Gas Supply, Transportation and Storage CCL has secured natural gas feedstock for the Corpus Christi LNG Terminal through long-term natural gas supply agreements, including IPM agreements. Additionally, to ensure that CCL is able to transport and manage the natural gas feedstock to the Corpus Christi LNG Terminal, it has transportation precedent and other agreements to secure firm pipeline transportation and storage capacity from third parties and CCP. Marketing LNG produced by the Liquefaction Projects that is not contracted under long-term contracts is available for Cheniere Marketing, our integrated marketing function, to sell in the global market u"
3570_10K_2024_0000003570-25-000033.json,item_1,(?i)customer\s+concentration,Customer Concentration,"ailable for Cheniere Marketing, our integrated marketing function, to sell in the global market under spot sales or other short-term agreements. Major Customers We did not have any customers accounting for 10% or more of total consolidated revenues for the year ended December 31, 2024. Additional information regarding our customer contracts can be found in Liquidity and Capital Resources in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 20-Customer Concentration of our Notes to Consolidated Financial Statements. Governmental Regulation Our LNG terminals and pipelines are subject to extensive regulation under federal, state and local statutes, rules, regulations and laws. These laws require that we engage in consultations with appropriate federal and state agencies and that we obtain and maintain applicable permits and other authorizations. These rigorous regulatory requirements increase the cost of construction and operation, and failure to comply with"
3570_10K_2024_0000003570-25-000033.json,item_7,(?i)supply\s+agreement,supply agreement,"ditures under Executed Contracts We are committed to make future cash payments for operations and capital expenditures pursuant to certain of our contracts. The following table summarizes our estimate of material cash requirements for operations and capital expenditures related to our core operations under executed contracts as of December 31, 2024 (in billions): Estimated Payments Due Under Executed Contracts by Period (1) 2025 2026 - 2029 Thereafter Total Purchase obligations (2): Natural gas supply agreements excluding IPM agreements (3) (4) $ 6.6 $ 16.4 $ 6.6 $ 29.6 Natural gas transportation and storage service agreements (5) 0.5 2.0 4.4 6.9 Capital expenditures 1.6 0.6 - 2.2 Other Purchase Obligations - 0.2 0.5 0.7 Leases (6) 0.7 2.9 3.4 7.0 Total $ 9.4 $ 22.1 $ 14.9 $ 46.4 (1)Agreements in force as of December 31, 2024 that have terms dependent on project milestone dates are based on the estimated dates as of December 31, 2024. (2)Purchase obligations consist of agreements to purchase goods or"
3570_10K_2024_0000003570-25-000033.json,item_7,(?i)supply\s+agreement,supply agreement,"ilestone dates are based on the estimated dates as of December 31, 2024. (2)Purchase obligations consist of agreements to purchase goods or services that are enforceable and legally binding that specify fixed or minimum quantities to be purchased. We include contracts for which we have an early termination option if the option is not currently expected to be exercised. We include contracts with unsatisfied contractual conditions if the conditions are currently expected to be met. (3)Natural gas supply agreements exclude IPM agreements, which are structured to generate a fixed margin when viewed in conjunction with the sale of LNG produced from the natural gas procured under the IPM agreements, as described under Liquidity from Executed IPM Agreements. (4)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2024. Natural gas supply agreements are presented net of $0.3 billion in contracted sales of natural gas as of December 31, 2024. (5)Nat"
3570_10K_2024_0000003570-25-000033.json,item_7,(?i)supply\s+agreement,supply agreement,"n early termination option if the option is not currently expected to be exercised. We include contracts with unsatisfied contractual conditions if the conditions are currently expected to be met. (3)Natural gas supply agreements exclude IPM agreements, which are structured to generate a fixed margin when viewed in conjunction with the sale of LNG produced from the natural gas procured under the IPM agreements, as described under Liquidity from Executed IPM Agreements. (4)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2024. Natural gas supply agreements are presented net of $0.3 billion in contracted sales of natural gas as of December 31, 2024. (5)Natural gas transportation and storage services agreements include $1.2 billion in obligations to related parties. (6)Leases include payments under (1) operating leases, (2) finance leases, (3) short-term leases and (4) vessel time charters that were executed as of December 31, 2024 but wil"
3570_10K_2024_0000003570-25-000033.json,item_7,(?i)supply\s+agreement,supply agreement,"unsatisfied contractual conditions if the conditions are currently expected to be met. (3)Natural gas supply agreements exclude IPM agreements, which are structured to generate a fixed margin when viewed in conjunction with the sale of LNG produced from the natural gas procured under the IPM agreements, as described under Liquidity from Executed IPM Agreements. (4)Pricing of natural gas supply agreements is based on estimated forward prices and basis spreads as of December 31, 2024. Natural gas supply agreements are presented net of $0.3 billion in contracted sales of natural gas as of December 31, 2024. (5)Natural gas transportation and storage services agreements include $1.2 billion in obligations to related parties. (6)Leases include payments under (1) operating leases, (2) finance leases, (3) short-term leases and (4) vessel time charters that were executed as of December 31, 2024 but will commence in the future. Payments during future renewal option periods that are exercisable at our sole discr"
3570_10K_2024_0000003570-25-000033.json,item_7,(?i)supply\s+agreement,supply agreement,"iscretion are included only to the extent that the option is believed to be reasonably certain to be exercised. Leases are presented net of $1.2 billion in future income associated with vessel time charters that were subchartered to third parties. Natural Gas Supply, Transportation and Storage Service Agreements Excluding IPM agreements and unexercised extension options, we have secured approximately 7,980 TBtu of natural gas feedstock for our Liquefaction Projects through long-term natural gas supply agreements with remaining fixed terms of up to 15 years. As of December 31, 2024, we have secured approximately 74% of the natural gas supply required to support the total forecasted production capacity of the Liquefaction Projects during 2025, excluding the 6% of which has been secured under IPM agreements. Natural gas supply secured decreases as a percentage of forecasted production capacity beyond 2025. As further described in the LNG Revenues from Executed SPAs section, the pricing structure of our S"
45012_10K_2014_0000045012-15-000040.json,item_1,(?i)significant\s+customer,significant customer,"d. Likewise, if our proprietary technologies, equipment, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures due to, among other"
45012_10K_2014_0000045012-15-000040.json,item_1,(?i)significant\s+customer,significant customer,"s and consolidated results of operations could be materially and adversely affected. If our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay paying or fail to pay u"
45012_10K_2015_0000045012-16-000272.json,item_1,(?i)significant\s+customer,significant customer,"d. Likewise, if our proprietary technologies, equipment, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures due to, among other"
45012_10K_2015_0000045012-16-000272.json,item_1,(?i)significant\s+customer,significant customer,"s and consolidated results of operations could be materially and adversely affected. If our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay paying or fail to pay u"
45012_10K_2016_0000045012-17-000047.json,item_1,(?i)significant\s+customer,significant customer,"d. Likewise, if our proprietary technologies, equipment, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures"
45012_10K_2016_0000045012-17-000047.json,item_1,(?i)significant\s+customer,significant customer,"s and consolidated results of operations could be materially and adversely affected. If our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay payi"
45012_10K_2017_0000045012-18-000059.json,item_1,(?i)significant\s+customer,significant customer,"the market, customer requirements, competitive pressures and technology trends, our business and consolidated results of operations could be materially and adversely affected, and the value of our intellectual property may be reduced. Likewise, if our proprietary technologies, equipment, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and ou"
45012_10K_2017_0000045012-18-000059.json,item_1,(?i)significant\s+customer,significant customer,"t, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures"
45012_10K_2017_0000045012-18-000059.json,item_1,(?i)significant\s+customer,significant customer,"rially and adversely affected. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our liquidity, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While none of these customers represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay payi"
45012_10K_2018_0000045012-19-000044.json,item_1,(?i)significant\s+customer,significant customer,"the market, customer requirements, competitive pressures and technology trends, our business and consolidated results of operations could be materially and adversely affected, and the value of our intellectual property may be reduced. Likewise, if our proprietary technologies, equipment, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our cons"
45012_10K_2018_0000045012-19-000044.json,item_1,(?i)significant\s+customer,significant customer,"nt, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due t"
45012_10K_2018_0000045012-19-000044.json,item_1,(?i)significant\s+customer,significant customer,"e materially and adversely affected. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay payi"
45012_10K_2019_0000045012-20-000031.json,item_1,(?i)significant\s+customer,significant customer,"ressures and technology trends, our business and consolidated results of operations could be materially and adversely affected, and the value of our intellectual property may be reduced. Likewise, if our proprietary technologies, equipment, facilities, or work processes become obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. HAL 2019 FORM 10-K | 13 Item 1(a) | Risk Factors If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our cons"
45012_10K_2019_0000045012-20-000031.json,item_1,(?i)significant\s+customer,significant customer,", we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. HAL 2019 FORM 10-K | 13 Item 1(a) | Risk Factors If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due t"
45012_10K_2019_0000045012-20-000031.json,item_1,(?i)significant\s+customer,significant customer,"M 10-K | 13 Item 1(a) | Risk Factors If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay payi"
45012_10K_2019_0000045012-20-000031.json,item_7,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"products to the energy industry. Our revenue is generated from the sale of services and products to major, national, and independent oil and natural gas companies worldwide. The industry we serve is highly competitive with many substantial competitors in each segment of our business. In 2019, 2018 and 2017, based on the location of services provided and products sold, 51%, 58% and 53%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue. Operations in some countries may be adversely affected by unsettled political conditions, acts of terrorism, civil unrest, force majeure, war or other armed conflict, health or similar issues, sanctions, expropriation or other governmental actions, inflation, changes in foreign currency exchange rates, foreign currency exchange restrictions and highly inflationary currencies, as well as other geopolitical factors. We believe the geographic diversification of our business activities reduces the"
45012_10K_2020_0000045012-21-000009.json,item_1,(?i)significant\s+customer,significant customer,"bility to reinvest earnings from operations in one country to fund the capital needs of our operations in other countries. As an example, we conduct business in countries that have restricted or limited trading markets for their local currencies and restrict or limit cash repatriation. We may accumulate cash in those geographies, but we may be limited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our con"
45012_10K_2020_0000045012-21-000009.json,item_1,(?i)significant\s+customer,significant customer,"We may accumulate cash in those geographies, but we may be limited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due t"
45012_10K_2020_0000045012-21-000009.json,item_1,(?i)significant\s+customer,significant customer,"e the profits from those countries. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic or commodity price environments, we may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets. If our customers delay payi"
45012_10K_2020_0000045012-21-000009.json,item_7,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"oducts to the energy industry. Our revenue is generated from the sale of services and products to major, national, and independent oil and natural gas companies worldwide. The industry we serve is highly competitive with many substantial competitors in each segment of our business. In 2020, 2019, and 2018, based on the location of services provided and products sold, 38%, 51%, and 58%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue. Operations in some countries may be adversely affected by unsettled political conditions, acts of terrorism, civil unrest, force majeure, war or other armed conflict, sanctions, expropriation or other governmental actions, inflation, changes in foreign currency exchange rates, foreign currency exchange restrictions and highly inflationary currencies, as well as other geopolitical factors. We believe the geographic diversification of our business activities reduces the risk that an interruption"
45012_10K_2021_0000045012-22-000013.json,item_1,(?i)significant\s+customer,significant customer,"e country to fund the capital needs of our operations in other countries. As an example, we conduct business in countries that have restricted or limited trading markets for their local currencies and restrict or limit cash repatriation. We may accumulate cash in those geographies, but we may be limited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. HAL 2021 FORM 10-K | 16 Item 1(a) | Risk Factors If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our con"
45012_10K_2021_0000045012-22-000013.json,item_1,(?i)significant\s+customer,significant customer,"we may be limited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. HAL 2021 FORM 10-K | 16 Item 1(a) | Risk Factors If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our custome"
45012_10K_2021_0000045012-22-000013.json,item_1,(?i)significant\s+customer,significant customer,"10-K | 16 Item 1(a) | Risk Factors If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We depend on a limited number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, particularly in weak economic or commodity price environments. If our custome"
45012_10K_2021_0000045012-22-000013.json,item_7,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"oducts to the energy industry. Our revenue is generated from the sale of services and products to major, national, and independent oil and natural gas companies worldwide. The industry we serve is highly competitive with many substantial competitors in each segment of our business. In 2021, 2020, and 2019, based on the location of services provided and products sold, 40%, 38%, and 51%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue. Activity within our business segments is significantly impacted by spending on upstream exploration, development, and production programs by our customers. Also impacting our activity is the status of the global economy, which impacts oil and natural gas consumption. The COVID-19 pandemic and efforts to mitigate its effect had a substantial negative impact on the global economy and demand for oil in 2020 and 2021. As discussed earlier, although there are signs of improvement in many areas arou"
45012_10K_2021_0000045012-22-000013.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 10%,"o pay our invoices due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, particularly in weak economic environments, as well as unsettled political conditions. Given the nature and significance of the pandemic and disruption in the oil and gas industry, we have experienced delayed customer payments and payment defaults associated with customer liquidity issues and bankruptcies. Receivables from our primary customer in Mexico accounted for approximately 10% of our total receivables as of December 31, 2021. While we have experienced payment delays in Mexico, these amounts are not in dispute and we have not historically had, and we do not expect, any material write-offs due to collectability of receivables from this customer. HAL 2021 FORM 10-K | 24 Item 7 | Business Environment and Results of Operations BUSINESS ENVIRONMENT AND RESULTS OF OPERATIONS We operate in more than 70 countries throughout the world to provide a comprehensive range of servic"
45012_10K_2022_0000045012-23-000011.json,item_1,(?i)significant\s+customer,significant customer,"bility to reinvest earnings from operations in one country to fund the capital needs of our operations in other countries. As an example, we conduct business in countries that have restricted or limited trading markets for their local currencies and restrict or limit cash repatriation. We may accumulate cash in those geographies, but we may be limited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated res"
45012_10K_2022_0000045012-23-000011.json,item_1,(?i)significant\s+customer,significant customer,"epatriation. We may accumulate cash in those geographies, but we may be limited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our custome"
45012_10K_2022_0000045012-23-000011.json,item_1,(?i)significant\s+customer,significant customer,"to repatriate the profits from those countries. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, particularly in weak economic or commodity price environments. If our custome"
45012_10K_2022_0000045012-23-000011.json,item_7,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"oducts to the energy industry. Our revenue is generated from the sale of services and products to major, national, and independent oil and natural gas companies worldwide. The industry we serve is highly competitive with many substantial competitors in each segment of our business. In 2022, 2021, and 2020, based on the location of services provided and products sold, 45%, 40%, and 38%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue. Activity within our business segments is significantly impacted by spending on upstream exploration, development, and production programs by our customers. Also impacting our activity is the status of the global economy, which impacts oil and natural gas consumption. Some of the more significant determinants of current and future spending levels of our customers are oil and natural gas prices and our customers' expectations about future prices, global oil supply and demand, completions intensi"
45012_10K_2022_0000045012-23-000011.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 9%,"mer receivables. In line with industry practice, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures to pay our invoices due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, as well as unsettled political conditions. Receivables from our primary customer in Mexico accounted for approximately 9% of our total receivables as of December 31, 2022. While we have experienced payment delays in Mexico, these amounts are not in dispute and we have not historically had, and we do not expect to have, any material write-offs due to collectability of receivables from this customer. HAL 2022 FORM 10-K | 26 Item 7 | Business Environment and Results of Operations BUSINESS ENVIRONMENT AND RESULTS OF OPERATIONS We operate in more than 70 countries throughout the world to provide a comprehensive range o"
45012_10K_2023_0000045012-24-000007.json,item_1,(?i)significant\s+customer,significant customer,"mited in our ability to convert our profits into United States dollars or to repatriate the profits from those countries. During 2023, we experienced these conditions in Argentina and though we have been able to develop processes to repatriate cash when we believe it is appropriate to do so, we have incurred losses from devaluation of the local currency and from repatriating cash. We expect restrictions on currency repatriation to continue in Argentina during 2024. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated res"
45012_10K_2023_0000045012-24-000007.json,item_1,(?i)significant\s+customer,significant customer,"ropriate to do so, we have incurred losses from devaluation of the local currency and from repatriating cash. We expect restrictions on currency repatriation to continue in Argentina during 2024. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our custome"
45012_10K_2023_0000045012-24-000007.json,item_1,(?i)significant\s+customer,significant customer,"patriation to continue in Argentina during 2024. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, particularly in weak economic or commodity price environments. If our custome"
45012_10K_2023_0000045012-24-000007.json,item_7,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"oducts to the energy industry. Our revenue is generated from the sale of services and products to major, national, and independent oil and natural gas companies worldwide. The industry we serve is highly competitive with many substantial competitors in each segment of our business. In 2023, 2022, and 2021, based on the location of services provided and products sold, 44%, 45%, and 40%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue. Activity within our business segments is significantly impacted by spending on upstream exploration, development, and production programs by our customers. Also impacting our activity is the status of the global economy, which impacts oil and natural gas consumption. Some of the more significant determinants of current and future spending levels of our customers are oil and natural gas prices and our customers' expectations about future prices, global oil supply and demand, completions intensi"
45012_10K_2023_0000045012-24-000007.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 6%,"mer receivables. In line with industry practice, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures to pay our invoices due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, as well as unsettled political conditions. Receivables from our primary customer in Mexico accounted for approximately 6% of our total receivables as of December 31, 2023. While we have experienced payment delays from our primary customer in Mexico, these amounts are not in dispute and we have not historically had, and we do not expect to have, any material write-offs due to collectability of receivables from this customer. HAL 2023 FORM 10-K | 26 Item 7 | Business Environment and Results of Operations BUSINESS ENVIRONMENT AND RESULTS OF OPERATIONS We operate in more than 70 countries throughout the world to provi"
45012_10K_2024_0000045012-25-000010.json,item_1,(?i)significant\s+customer,significant customer,"ability to convert our profits into U.S. dollars or to repatriate the profits from those countries. For example, we have experienced these conditions in Argentina and other countries and though we have utilized processes to repatriate cash when we believe it is appropriate to do so, we have incurred losses from devaluation of the local currency and from repatriating cash. We expect restrictions on currency repatriation to continue in certain countries during 2025. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated res"
45012_10K_2024_0000045012-25-000010.json,item_1,(?i)significant\s+customer,significant customer,"to do so, we have incurred losses from devaluation of the local currency and from repatriating cash. We expect restrictions on currency repatriation to continue in certain countries during 2025. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our custome"
45012_10K_2024_0000045012-25-000010.json,item_1,(?i)significant\s+customer,significant customer,"on to continue in certain countries during 2025. If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition. We have a number of significant customers. While no single customer represented more than 10% of consolidated revenue in any period presented, the loss of one or more significant customers could have a material adverse effect on our business and our consolidated results of operations. In most cases, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. We may experience increased delays and failures due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, particularly in weak economic or commodity price environments. If our custome"
45012_10K_2024_0000045012-25-000010.json,item_7,(?i)10\s*%\s*(?:or more\s+)?of\s+(?:our\s+)?(?:total\s+)?(?:revenue|sales|net sales),10% of our revenue,"oducts to the energy industry. Our revenue is generated from the sale of services and products to major, national, and independent oil and natural gas companies worldwide. The industry we serve is highly competitive with many substantial competitors in each segment of our business. In 2024, 2023, and 2022, based on the location of services provided and products sold, 40%, 44%, and 45%, respectively, of our consolidated revenue was from the United States. No other country accounted for more than 10% of our revenue. Activity within our business segments is significantly impacted by spending on upstream exploration, development, and production programs by our customers. Also impacting our activity is the status of the global economy, which impacts oil and natural gas consumption. Some of the more significant determinants of current and future spending levels of our customers are oil and natural gas prices, our customers’ expectations about future prices, global oil supply and demand, the impact on natural"
45012_10K_2024_0000045012-25-000010.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 8%,"mer receivables. In line with industry practice, we bill our customers for our services in arrears and are, therefore, subject to our customers delaying or failing to pay our invoices. In weak economic environments, we may experience increased delays and failures to pay our invoices due to, among other reasons, a reduction in our customers’ cash flow from operations and their access to the credit markets, as well as unsettled political conditions. Receivables from our primary customer in Mexico accounted for approximately 8% of our total receivables as of December 31, 2024. While we have experienced payment delays from our primary customer in Mexico, these amounts are not in dispute and we have not historically had, and we do not expect to have, any material write-offs due to collectability of receivables from this customer. HAL 2024 FORM 10-K | 26 Item 7 | Business Environment and Results of Operations BUSINESS ENVIRONMENT AND RESULTS OF OPERATIONS We operate in more than 70 countries throughout the world to provi"
797468_10K_2016_0000797468-17-000003.json,item_7,(?i)supply\s+agreement,supply agreement,"oil and gas transportation and storage programs. Processing and transportation results are affected by the volumes that are processed and transported through the segment's plants and pipelines, as well as the margins obtained on related services. The midstream and marketing segment earnings in 2016 were significantly higher than those in 2015, primarily due to impairments taken in 2015. Excluding the 2015 impairments, 2016 earnings were lower because of unfavorable contract pricing on long-term supply agreements as well as unfavorable Permian to Gulf Coast differentials, decreased throughput and lower realized NGLs pricing. Business Review Pipeline Transportation Margin and cash flow from pipeline transportation operations mainly reflect volumes shipped. Dolphin Energy owns and operates a 230-mile-long, 48-inch-diameter natural gas pipeline (Dolphin Pipeline), which transports dry natural gas from Qatar to the UAE and Oman. The Dolphin Pipeline contributes significantly to Occidental's pipeline transp"
797468_10K_2016_0000797468-17-000003.json,item_7,(?i)supply\s+agreement,supply agreement,"d in 2016 results was a $160 million charge related to the termination of crude oil supply contracts. Included in 2015 results were impairments and related charges of $1.3 billion. Included in 2014 earnings were $2.0 billion of gains from the sale of BridgeTex Pipeline and part of Occidental's investment in Plains Pipeline. Excluding the significant items noted above, the decrease in 2016 results compared to 2015 reflected lower marketing margins due to unfavorable contract pricing on long-term supply agreements as well as unfavorable Permian to Gulf Coast differentials, decreased throughput and lower realized NGLs pricing. Excluding the significant items noted above, the decrease in 2015 results, compared to 2014, primarily reflected lower marketing margins due to the narrowing of the Permian to Gulf Coast differentials, lower domestic gas processing income due to lower NGL prices and lower Dolphin Pipeline income and the decrease in Occidental's interest in Plains Pipeline. TAXES Deferred tax liabil"
797468_10K_2017_0000797468-18-000005.json,item_7,(?i)supply\s+agreement,supply agreement,".2 billion in 2017, 2016 and 2015, respectively. Excluding significant items affecting results, the increase in 2017 results compared to 2016, reflected higher marketing margins due to improved spreads, higher plant income due to higher NGL prices and higher income from a full year of operating the Ingleside Crude Terminal. Excluding the significant items noted above, the decrease in 2016 results compared to 2015 reflected lower marketing margins due to unfavorable contract pricing on long-term supply agreements as well as unfavorable Permian-to-Gulf Coast differentials, decreased throughput and lower realized NGLs pricing. Corporate The following table sets forth significant transactions and events affecting Occidental’s earnings that vary widely and unpredictably in nature, timing and amount. Benefit (Charge) (in millions) CORPORATE Asset sale losses $ - $ - $ (8 ) Asset impairments and related items(a) - (619 ) (235 ) Severance, spin-off and other - - (118 ) Tax effect of pre-tax and other adjustme"
797468_10K_2020_0000797468-21-000009.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 92%,"ated sites 17 144 17 154 Closed or non-operated Occidental sites 49 267 50 269 Total 170 $ 1,151 177 $ 1,197 As of December 31, 2020, Occidental’s environmental liabilities exceeded $10 million each at 19 of the 170 sites described above, and 96 of the sites had liabilities from $0 to $1 million each. As of December 31, 2020, two sites - the Diamond Alkali Superfund Site and a former chemical plant in Ohio (both of which are indemnified by Maxus Energy Corporation, as discussed further below) - accounted for 92% of its liabilities associated with NPL sites. 17 of the 35 NPL sites are indemnified by Maxus. Five of the 69 third-party sites - a Maxus-indemnified chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California, and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities - accounted for 76% of Occidental’s liabilities associated with these sites. 9 of the 69 third-p"
797468_10K_2020_0000797468-21-000009.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 76%,"h are indemnified by Maxus Energy Corporation, as discussed further below) - accounted for 92% of its liabilities associated with NPL sites. 17 of the 35 NPL sites are indemnified by Maxus. Five of the 69 third-party sites - a Maxus-indemnified chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California, and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities - accounted for 76% of Occidental’s liabilities associated with these sites. 9 of the 69 third-party sites are indemnified by Maxus. Five sites - oil and gas operations in Colorado and chemical plants in Kansas, Louisiana, New York and Texas - accounted for 70% of the liabilities associated with the Occidental-operated sites. Seven other sites - a landfill in Western New York, a former refinery in Oklahoma, former chemical plants in California, Michigan, Tennessee and Washington, and a closed coal mine in Pennsylv"
797468_10K_2020_0000797468-21-000009.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 70%,"ed chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California, and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities - accounted for 76% of Occidental’s liabilities associated with these sites. 9 of the 69 third-party sites are indemnified by Maxus. Five sites - oil and gas operations in Colorado and chemical plants in Kansas, Louisiana, New York and Texas - accounted for 70% of the liabilities associated with the Occidental-operated sites. Seven other sites - a landfill in Western New York, a former refinery in Oklahoma, former chemical plants in California, Michigan, Tennessee and Washington, and a closed coal mine in Pennsylvania - accounted for 70% of the liabilities associated with closed or non-operated Occidental sites. Environmental remediation liabilities vary over time depending on factors such as acquisitions or divestitures, identification of additional"
797468_10K_2020_0000797468-21-000009.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 70%,"idental’s liabilities associated with these sites. 9 of the 69 third-party sites are indemnified by Maxus. Five sites - oil and gas operations in Colorado and chemical plants in Kansas, Louisiana, New York and Texas - accounted for 70% of the liabilities associated with the Occidental-operated sites. Seven other sites - a landfill in Western New York, a former refinery in Oklahoma, former chemical plants in California, Michigan, Tennessee and Washington, and a closed coal mine in Pennsylvania - accounted for 70% of the liabilities associated with closed or non-operated Occidental sites. Environmental remediation liabilities vary over time depending on factors such as acquisitions or divestitures, identification of additional sites and remedy selection and implementation. Occidental recorded environmental remediation expenses of $36 million, $112 million and $47 million for the years ended December 31, 2020, 2019, and 2018, respectively. Environmental remediation expenses primarily relate to changes to"
797468_10K_2021_0000797468-22-000008.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 96%,"ird-party sites 69 273 69 293 Occidental-operated sites 15 122 17 144 Closed or non-operated Occidental sites 51 277 49 267 Total 165 $ 1,099 170 $ 1,151 As of December 31, 2021, Occidental’s environmental liabilities exceeded $10 million each at 20 of the 165 sites described above and 96 of the sites had liabilities from $0 to $1 million each. As of December 31, 2021, two sites - the Maxus Energy Corporation (Maxus)-indemnified Diamond Alkali Superfund Site and a landfill in Western New York - accounted for 96% of its liabilities associated with NPL sites. 14 of the 30 NPL sites are indemnified by Maxus. Five of the 69 third-party sites - a Maxus-indemnified chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities - accounted for 75% of Occidental’s liabilities associated with these sites. Nine of the 69 third"
797468_10K_2021_0000797468-22-000008.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 75%,"ndemnified Diamond Alkali Superfund Site and a landfill in Western New York - accounted for 96% of its liabilities associated with NPL sites. 14 of the 30 NPL sites are indemnified by Maxus. Five of the 69 third-party sites - a Maxus-indemnified chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities - accounted for 75% of Occidental’s liabilities associated with these sites. Nine of the 69 third-party sites are indemnified by Maxus. Four sites - oil and gas operations in Colorado and chemical plants in Kansas, Louisiana and Texas - accounted for 69% of the liabilities associated with the Occidental-operated sites. Ten other sites - a landfill in Western New York, a OXY 2021 FORM 10-K MANAGEMENT’S DISCUSSION AND ANALYSIS former refinery in Oklahoma, former chemical plants in California, Delaware, Michigan, New"
797468_10K_2021_0000797468-22-000008.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 69%,"ndemnified chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities - accounted for 75% of Occidental’s liabilities associated with these sites. Nine of the 69 third-party sites are indemnified by Maxus. Four sites - oil and gas operations in Colorado and chemical plants in Kansas, Louisiana and Texas - accounted for 69% of the liabilities associated with the Occidental-operated sites. Ten other sites - a landfill in Western New York, a OXY 2021 FORM 10-K MANAGEMENT’S DISCUSSION AND ANALYSIS former refinery in Oklahoma, former chemical plants in California, Delaware, Michigan, New York, Ohio, Tennessee and Washington, and a closed coal mine in Pennsylvania - accounted for 75% of the liabilities associated with closed or non-operated Occidental sites. Environmental remediation liabilities vary over time dependin"
797468_10K_2021_0000797468-22-000008.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 75%,"arty sites are indemnified by Maxus. Four sites - oil and gas operations in Colorado and chemical plants in Kansas, Louisiana and Texas - accounted for 69% of the liabilities associated with the Occidental-operated sites. Ten other sites - a landfill in Western New York, a OXY 2021 FORM 10-K MANAGEMENT’S DISCUSSION AND ANALYSIS former refinery in Oklahoma, former chemical plants in California, Delaware, Michigan, New York, Ohio, Tennessee and Washington, and a closed coal mine in Pennsylvania - accounted for 75% of the liabilities associated with closed or non-operated Occidental sites. Environmental remediation liabilities vary over time depending on factors such as acquisitions or divestitures, identification of additional sites and remedy selection and implementation. Occidental recorded environmental remediation expenses of $28 million, $36 million and $112 million for the years ended December 31, 2021, 2020 and 2019, respectively. Environmental remediation expenses primarily relate to changes to e"
797468_10K_2022_0000797468-23-000011.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for 87%,"ve price revisions of 29 MMboe on international PSCs. Further positive revisions of 93 MMboe were associated with updates based on reservoir performance and 5 MMBoe were associated with management changes in development plans. The positive revisions were offset by negative revisions associated with various other cost and interest related revisions (95 MMboe). Improved Recovery In 2022, Occidental added proved reserves of 89 MMboe related to improved recovery, primarily in the Permian EOR, which accounted for 87% of the improved recovery reserve additions. These properties comprise conventional projects, which are characterized by the deployment of EOR development methods, largely employing application of CO2 flood, waterflood or steam flood. These types of conventional EOR development methods can be applied through existing wells, though additional drilling is frequently required to fully optimize the development configuration. Waterflooding is the technique of injecting water into the formation to dis"
821189_10K_2014_0000821189-15-000010.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 69%,"nd liquids-rich acreage. In addition, increasing drilling and completion efficiencies and testing methods to improve the recovery factor of oil-in-place remained areas of emphasis in 2014. EOG continues to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects. On a volumetric basis, as calculated using the ratio of 1.0 barrel of crude oil and condensate or NGL to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGL production accounted for approximately 69% of total North American production during 2014 compared to 63% in 2013. This liquids growth primarily reflects increased production from the South Texas Eagle Ford, the North Dakota Bakken and the Permian Basin. In 2014, EOG's net Eagle Ford production averaged 202.7 thousand barrels per day (MBbld) of crude oil and condensate and NGL as compared to 140.9 MBbld in 2013. EOG's major producing areas are in New Mexico, North Dakota, Texas, Utah and Wyoming. EOG continues to deliver its crude oil t"
821189_10K_2015_0000821189-16-000054.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 71%,"improvements and service cost reductions. These efficiency gains along with realized lower service costs resulted in lower drilling and completion costs and decreased operating expenses. EOG continues to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects. On a volumetric basis, as calculated using the ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGL production accounted for approximately 71% of United States production during 2015, consistent with 2014. During 2015, drilling occurred primarily in the Eagle Ford, Delaware Basin and North Dakota Bakken plays, where EOG has built an inventory of uncompleted wells. In addition, EOG continues to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins or tactical acquisitions and to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects. In 2015, EOG compl"
821189_10K_2016_0000821189-17-000017.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 73%,"and completion costs and decreased operating expenses during 2016. EOG continues to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins or tactical acquisitions and to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGL production accounted for approximately 73% of United States production during 2016 as compared to 71% for 2015. During 2016, drilling and completion activities occurred primarily in the Eagle Ford play, Delaware Basin play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico, North Dakota, Texas, Utah and Wyoming. On October 4, 2016, EOG completed its previously announced mergers and related asset purchase transactions with Yates Petroleum Corporation (YPC), Abo Petroleum Corporation (ABO), MYCO In"
821189_10K_2017_0000821189-18-000012.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 77%,"tion costs and decreased operating expenses during 2017. EOG continues to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical acquisitions and to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGL production accounted for approximately 77% of United States production during 2017 as compared to 73% for 2016. During 2017, drilling and completion activities occurred primarily in the Eagle Ford play, Delaware Basin play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico, North Dakota, Texas, Utah and Wyoming. Trinidad. In Trinidad, EOG continued to deliver natural gas under existing supply contracts. Several fields in the South East Coast Consortium (SECC) Block, Modified U(a) Block, Block 4(a"
821189_10K_2018_0000821189-19-000009.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 77%,"erating efficiencies gained in prior years. In addition, EOG continued to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGL production accounted for approximately 77% of United States production during 2018 and 2017. During 2018, drilling and completion activities occurred primarily in the Eagle Ford play, Delaware Basin play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico, North Dakota, Texas, Utah and Wyoming. Trinidad. In Trinidad, EOG continued to deliver natural gas under existing supply contracts. Several fields in the South East Coast Consortium (SECC) Block, Modified U(a) Block, Block 4(a), Modified U(b) Bl"
821189_10K_2019_0000821189-20-000010.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 77%,"rating efficiencies gained in prior years. In addition, EOG continued to evaluate certain potential crude oil and liquids-rich natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGLs production accounted for approximately 77% of United States production during both 2019 and 2018. During 2019, drilling and completion activities occurred primarily in the Eagle Ford play, Delaware Basin play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico, North Dakota, Texas and Wyoming. Trinidad. In Trinidad, EOG continues to deliver natural gas under existing supply contracts. Several fields in the South East Coast Consortium (SECC) Block, Modified U(a) Block, Block 4(a), Modified U(b) Blo"
821189_10K_2020_0000821189-21-000017.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 76%,"ling and completion costs in 2020. In addition, EOG continued to evaluate certain potential crude oil and condensate, NGLs and natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGLs production accounted for approximately 76% and 77% of United States production during 2020 and 2019, respectively. During 2020, drilling and completion activities occurred primarily in the Delaware Basin play, Eagle Ford play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico and Texas. In the second quarter of 2020, EOG delayed initial production from most newly-completed wells and shut in some existing production. During the third quarter of 2020, EOG resumed the process of initiating productio"
821189_10K_2021_0000821189-22-000017.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 75%,"ling and completion costs in 2021. In addition, EOG continued to evaluate certain potential crude oil and condensate, NGLs and natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGLs production accounted for approximately 75% and 76% of United States production during 2021 and 2020, respectively. During 2021, drilling and completion activities occurred primarily in the Delaware Basin play, Eagle Ford oil play and Rocky Mountain area. EOG's major producing areas in the United States are in Texas and New Mexico. EOG faced interruptions to sales in certain markets due to disruptions throughout the United States from Winter Storm Uri in the first quarter of 2021. Winter Storm Uri also negatively impacted Lease and Well,"
821189_10K_2022_0000821189-23-000015.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 75%,"ting and capital costs. In addition, EOG continued to evaluate certain potential crude oil and condensate, NGLs and natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical or bolt-on acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGLs production accounted for approximately 75% of EOG's United States production during both 2022 and 2021. During 2022, EOG's drilling and completion activities occurred primarily in the Delaware Basin play, Eagle Ford play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico and Texas. See ITEM 1, Business - Exploration and Production for further discussion regarding EOG's 2022 United States operations. Trinidad. In the Republic of Trinidad and Tobago (Trinidad), EOG continues to deliver natural gas"
821189_10K_2023_0000821189-24-000011.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 73%,"d capital expenditures. In addition, EOG continued to evaluate certain potential crude oil and condensate, NGLs and natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical or bolt-on acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGLs production accounted for approximately 73% and 75% of EOG's United States production during 2023 and 2022, respectively. During 2023, EOG's drilling and completion activities occurred primarily in the Delaware Basin play, Eagle Ford play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico and Texas. See ITEM 1, Business - Exploration and Production for further discussion regarding EOG's 2023 United States operations. Trinidad. In Trinidad, EOG continues to deliver natural gas under existing supply"
821189_10K_2024_0000821189-25-000011.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 72%,"enced in prior periods. In addition, EOG continued to evaluate certain potential crude oil and condensate, NGLs and natural gas exploration and development prospects and to look for opportunities to add drilling inventory through leasehold acquisitions, farm-ins, exchanges or tactical or bolt-on acquisitions. On a volumetric basis, as calculated using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas, crude oil and condensate and NGLs production accounted for approximately 72% and 73% of EOG's United States production during 2024 and 2023, respectively. During 2024, EOG's drilling and completion activities occurred primarily in the Delaware Basin play, Eagle Ford play and Rocky Mountain area. EOG's major producing areas in the United States are in New Mexico and Texas. See ITEM 1, Business - Exploration and Production for further discussion regarding EOG's 2024 United States operations. Trinidad. In Trinidad, EOG continues to deliver natural gas under existing supply"
858470_10K_2014_0001628280-15-001120.json,item_1,(?i)major\s+customer,Major Customer,"and distribution efficiencies, affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. We also actively compete against other companies with substantial financial and other resources. Major Customers During the years ended December 31, 2014, 2013 and 2012, two customers accounted for approximately 14% and 10%, four customers accounted for approximately 21%, 16%, 14% and 11% and three customers accounted for approximately 18%, 12% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal,"
858470_10K_2014_0001628280-15-001120.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"ge position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. We also actively compete against other companies with substantial financial and other resources. Major Customers During the years ended December 31, 2014, 2013 and 2012, two customers accounted for approximately 14% and 10%, four customers accounted for approximately 21%, 16%, 14% and 11% and three customers accounted for approximately 18%, 12% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oi"
858470_10K_2014_0001628280-15-001120.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 21%,"rastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. We also actively compete against other companies with substantial financial and other resources. Major Customers During the years ended December 31, 2014, 2013 and 2012, two customers accounted for approximately 14% and 10%, four customers accounted for approximately 21%, 16%, 14% and 11% and three customers accounted for approximately 18%, 12% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration"
858470_10K_2014_0001628280-15-001120.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 18%,"d the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. We also actively compete against other companies with substantial financial and other resources. Major Customers During the years ended December 31, 2014, 2013 and 2012, two customers accounted for approximately 14% and 10%, four customers accounted for approximately 21%, 16%, 14% and 11% and three customers accounted for approximately 18%, 12% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and production operations are subject to various types of regulation"
858470_10K_2015_0000858470-16-000036.json,item_1,(?i)major\s+customer,Major Customer,"lability of rigs and related equipment and quality of service, including pipeline connection times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2015, 2014 and 2013, two customers accounted for approximately 16% and 14%, two customers accounted for approximately 14% and 10% and four customers accounted for approximately 21%, 16%, 14% and 11%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with pe"
858470_10K_2015_0000858470-16-000036.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"ction times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2015, 2014 and 2013, two customers accounted for approximately 16% and 14%, two customers accounted for approximately 14% and 10% and four customers accounted for approximately 21%, 16%, 14% and 11%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and N"
858470_10K_2015_0000858470-16-000036.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"ition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2015, 2014 and 2013, two customers accounted for approximately 16% and 14%, two customers accounted for approximately 14% and 10% and four customers accounted for approximately 21%, 16%, 14% and 11%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and p"
858470_10K_2015_0000858470-16-000036.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 21%,"ur access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2015, 2014 and 2013, two customers accounted for approximately 16% and 14%, two customers accounted for approximately 14% and 10% and four customers accounted for approximately 21%, 16%, 14% and 11%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and production operations are subject to various types of regula"
858470_10K_2016_0000858470-17-000007.json,item_1,(?i)major\s+customer,Major Customer,"lability of rigs and related equipment and quality of service, including pipeline connection times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2016, 2015 and 2014, two customers accounted for approximately 19% and 10%, two customers accounted for approximately 16% and 14% and two customers accounted for approximately 14% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand a"
858470_10K_2016_0000858470-17-000007.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 19%,"ction times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2016, 2015 and 2014, two customers accounted for approximately 19% and 10%, two customers accounted for approximately 16% and 14% and two customers accounted for approximately 14% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas"
858470_10K_2016_0000858470-17-000007.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"ition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2016, 2015 and 2014, two customers accounted for approximately 19% and 10%, two customers accounted for approximately 16% and 14% and two customers accounted for approximately 14% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and production o"
858470_10K_2016_0000858470-17-000007.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 14%,"our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2016, 2015 and 2014, two customers accounted for approximately 19% and 10%, two customers accounted for approximately 16% and 14% and two customers accounted for approximately 14% and 10%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and production operations are subject to various types of regulation at th"
858470_10K_2017_0000858470-18-000006.json,item_1,(?i)major\s+customer,Major Customer,"lability of rigs and related equipment and quality of service, including pipeline connection times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2017, 2016 and 2015, two customers accounted for approximately 18% and 11%, two customers accounted for approximately 19% and 10% and two customers accounted for approximately 16% and 14%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand a"
858470_10K_2017_0000858470-18-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 18%,"ction times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2017, 2016 and 2015, two customers accounted for approximately 18% and 11%, two customers accounted for approximately 19% and 10% and two customers accounted for approximately 16% and 14%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas"
858470_10K_2017_0000858470-18-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 19%,"ition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2017, 2016 and 2015, two customers accounted for approximately 18% and 11%, two customers accounted for approximately 19% and 10% and two customers accounted for approximately 16% and 14%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and production o"
858470_10K_2017_0000858470-18-000006.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 16%,"our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2017, 2016 and 2015, two customers accounted for approximately 18% and 11%, two customers accounted for approximately 19% and 10% and two customers accounted for approximately 16% and 14%, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natural gas has historically been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Regulation of Oil and Natural Gas Exploration and Production Exploration and production operations are subject to various types of regulation at th"
858470_10K_2018_0000858470-19-000008.json,item_1,(?i)major\s+customer,Major Customer,"lability of rigs and related equipment and quality of service, including pipeline connection times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the years ended December 31, 2018, 2017 and 2016, three customers accounted for approximately 20 percent, 11 percent and nine percent, two customers accounted for approximately 18 percent and 11 percent and two customers accounted for approximately 19 percent and 10 percent, respectively, of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on us because alternative customers are readily available. Seasonality Demand for natu"
858470_10K_2019_0000858470-20-000012.json,item_1,(?i)major\s+customer,Major Customer,"lability of rigs and related equipment and quality of service, including pipeline connection times and distribution efficiencies affect competition. We believe that our extensive acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2019, three customers accounted for approximately 17 percent, 16 percent and 16 percent of our total sales. During the year ended December 31, 2018, two customers accounted for approximately 20 percent and 11 percent of our total sales. During the year ended December 31, 2017, two customers accounted for approximately 18 percent and 11 percent of our total sales. We do not believe that the loss of any of these customers would have a material adverse effect on"
858470_10K_2020_0000858470-21-000013.json,item_1,(?i)major\s+customer,Major Customer,"ility of rigs and related equipment and quality of service, including pipeline connection times and distribution efficiencies affect competition. We believe that our concentrated acreage position and our access to gathering and pipeline infrastructure in Pennsylvania, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2020, three customers accounted for approximately 21 percent, 16 percent and 12 percent of our total sales. During the year ended December 31, 2019, three customers accounted for approximately 17 percent, 16 percent and 16 percent of our total sales. During the year ended December 31, 2018, two customers accounted for approximately 20 percent and 11 percent of our total sales. We do not believe that the loss of any of these customers would have a material adv"
858470_10K_2021_0000858470-22-000009.json,item_1,(?i)major\s+customer,Major Customer,"service, including pipeline connection times and distribution efficiencies affect competition. We believe that our concentrated acreage positions and our access to both third-party and company-owned gathering and pipeline infrastructure in our primary operating areas, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2021, no customer accounted for more than 10 percent of our total sales. During the year ended December 31, 2020, three customers accounted for approximately 21 percent, 16 percent and 12 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are a number of other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we believe"
858470_10K_2021_0000858470-22-000009.json,item_1,(?i)major\s+customer,major customer,"xpected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position over other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2021, no customer accounted for more than 10 percent of our total sales. During the year ended December 31, 2020, three customers accounted for approximately 21 percent, 16 percent and 12 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are a number of other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we believe there could be some initial challenges, but we have ample alternative markets to handle any sales disruptions. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses as"
858470_10K_2021_0000858470-22-000009.json,item_1,(?i)significant\s+customer,significant customer,"cers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2021, no customer accounted for more than 10 percent of our total sales. During the year ended December 31, 2020, three customers accounted for approximately 21 percent, 16 percent and 12 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are a number of other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we believe there could be some initial challenges, but we have ample alternative markets to handle any sales disruptions. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses associated with uncollectible receivables have not been significant. Regulation of Oil and Natural Gas Exploration and Production Exploration and production operati"
858470_10K_2022_0000858470-23-000011.json,item_1,(?i)major\s+customer,Major Customer,", including pipeline connection times and distribution efficiencies affect competition. We believe that our concentrated acreage positions and our access to both third-party and company-owned gathering and pipeline infrastructure in our primary operating areas, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position compared to other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2022, two customers accounted for approximately 13 percent and 11 percent of our total sales. During the year ended December 31, 2021, no customer accounted for more than 10 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are a number of other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we believe there could be"
858470_10K_2022_0000858470-23-000011.json,item_1,(?i)major\s+customer,major customer,"h our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position compared to other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2022, two customers accounted for approximately 13 percent and 11 percent of our total sales. During the year ended December 31, 2021, no customer accounted for more than 10 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are a number of other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we believe there could be some initial challenges, but we have sufficient alternative markets to handle any sales disruptions. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, loss"
858470_10K_2022_0000858470-23-000011.json,item_1,(?i)significant\s+customer,significant customer,"to other producers who do not have similar systems or services in place. Major Customers During the year ended December 31, 2022, two customers accounted for approximately 13 percent and 11 percent of our total sales. During the year ended December 31, 2021, no customer accounted for more than 10 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are a number of other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we believe there could be some initial challenges, but we have sufficient alternative markets to handle any sales disruptions. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses associated with uncollectible receivables have not been significant. Regulation of Oil and Natural Gas Exploration and Production Exploration and production op"
858470_10K_2023_0000858470-24-000019.json,item_1,(?i)major\s+customer,Major Customer,"contract terms, availability of rigs and related equipment and quality of service, including infrastructure availability and distribution efficiencies affect competition. We believe that our concentrated acreage positions and our access to both third-party and Company-owned gathering and pipeline infrastructure in our core operating areas, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position. Major Customers During the year ended December 31, 2023, two customers accounted for approximately 19 percent and 17 percent of our total sales. During the year ended December 31, 2022, two customers accounted for approximately 13 percent and 11 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we expect to hav"
858470_10K_2023_0000858470-24-000019.json,item_1,(?i)major\s+customer,major customer,"peline infrastructure in our core operating areas, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position. Major Customers During the year ended December 31, 2023, two customers accounted for approximately 19 percent and 17 percent of our total sales. During the year ended December 31, 2022, two customers accounted for approximately 13 percent and 11 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we expect to have sufficient alternative markets to handle any sales disruptions despite any initial disruptions that may occur. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses associa"
858470_10K_2023_0000858470-24-000019.json,item_1,(?i)significant\s+customer,significant customer,"cured for the upcoming years, enhance our competitive position. Major Customers During the year ended December 31, 2023, two customers accounted for approximately 19 percent and 17 percent of our total sales. During the year ended December 31, 2022, two customers accounted for approximately 13 percent and 11 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we expect to have sufficient alternative markets to handle any sales disruptions despite any initial disruptions that may occur. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses associated with uncollectible receivables have not been significant. Regulation of Oil and Natural Gas Exploration and Production Exploration and production"
858470_10K_2024_0000858470-25-000075.json,item_1,(?i)major\s+customer,Major Customer,"apacity and oversupply in certain geographic areas in 2024 resulted in negative spot market pricing at times for natural gas, such as in the Permian Basin at the Waha Hub. We believe that our concentrated acreage positions and our access to both third-party and Company-owned gathering and pipeline infrastructure in our core operating areas, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position. Major Customers During the year ended December 31, 2024, two customers accounted for approximately 21 percent and 19 percent of our total sales. During the year ended December 31, 2023, two customers accounted for approximately 19 percent and 17 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we expect to hav"
858470_10K_2024_0000858470-25-000075.json,item_1,(?i)major\s+customer,major customer,"peline infrastructure in our core operating areas, along with our expected activity level and the related services and equipment that we have secured for the upcoming years, enhance our competitive position. Major Customers During the year ended December 31, 2024, two customers accounted for approximately 21 percent and 19 percent of our total sales. During the year ended December 31, 2023, two customers accounted for approximately 19 percent and 17 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we expect to have sufficient alternative markets to handle any sales disruptions despite any initial disruptions that may occur. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses associa"
858470_10K_2024_0000858470-25-000075.json,item_1,(?i)significant\s+customer,significant customer,"cured for the upcoming years, enhance our competitive position. Major Customers During the year ended December 31, 2024, two customers accounted for approximately 21 percent and 19 percent of our total sales. During the year ended December 31, 2023, two customers accounted for approximately 19 percent and 17 percent of our total sales. If any one of our major customers were to stop purchasing our production, we believe there are other purchasers to whom we could sell our production. If multiple significant customers were to stop purchasing our production, we expect to have sufficient alternative markets to handle any sales disruptions despite any initial disruptions that may occur. We regularly monitor the creditworthiness of our customers and may require parent company guarantees, letters of credit or prepayments when necessary. Historically, losses associated with uncollectible receivables have not been significant. Regulation of Oil and Natural Gas Exploration and Production Exploration and production"
87347_10K_2016_0001564590-17-000589.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 20%,"million). (3) Excludes interest expense included in the segments’ income (2015: $30 million; 2014: $22 million). (4) Charges and credits are described in detail in Note 3 to the Consolidated Financial Statements. Full-year 2015 revenue of $35.5 billion decreased 27% year-on-year. This decrease was primarily due to customer budget cuts and pricing concessions as customers responded to lower commodity prices. Revenue was also impacted by the fall of certain currencies against the US dollar, which accounted for approximately 20% of the revenue decline. Full-year 2015 revenue from the Reservoir Characterization and Drilling Groups declined by 27% and 25%, respectively, as a result of lower demand as E&P budgets were reduced due to lower commodity prices. Production Group revenue fell by 29% due to activity reductions and pricing pressure as the land rig count dropped drastically in North America. Full-year 2015 pretax operating income margin decreased 342 bps to 18% as a result of the overall decline in activity combine"
87347_10K_2019_0001564590-20-001578.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 2%,"nd half of the year and beyond. Based on these factors, the expectation is for the 2020 exploration and production capex spending growth rate in the international markets to be in the mid-single-digit range. Schlumberger therefore expects its international portfolio revenue to grow at the same pace or higher, excluding the effects of the businesses transferred to the Sensia joint venture and the businesses divested in the Drilling Tools transaction. The businesses included in these transactions accounted for approximately 2% of Schlumberger’s global revenue in 2019. International revenue growth will be more heavily weighted to the second half of the year with increasing offshore activity, improving activity mix from the early deepwater growth cycle, and increasing exploration work toward the end of the year and into 2021. In North America, Schlumberger is continuing to scale-to-fit its organization and portfolio by repurposing or exiting underperforming business units, focusing on asset-light operations, and expand"
87347_10K_2020_0001564590-21-002477.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 25%,"nly 19% year-on-year. This decline was most prominent in Latin America, Europe, and Africa due to downward revisions to customer budgets and COVID-19 disruptions. Additionally, during the fourth quarter of 2020, Schlumberger completed two transactions: the contribution of its OneStim business in North America to Liberty Oilfield Services (“Liberty”) in exchange for a 37% stake in Liberty, and the divestiture of the North America low-flow rod-lift business in a cash transaction. These businesses accounted for approximately 25% of Schlumberger’s North America revenue in 2020. Consequently, the percentage of Schlumberger’s revenue that it generates in the international markets will increase significantly going forward. The combination of Schlumberger’s fit-for-basin strategy, digital technology innovation, and scale puts the company in the best position to leverage the anticipated shift of spending growth toward the international markets. From a macro perspective, oil prices have risen, buoyed by recent supply-led OPEC"
87347_10K_2021_0001564590-22-002421.json,item_7,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 25%,"lumberger’s full-year 2021 revenue of $22.9 billion decreased 3% year-on-year as a result of the divestitures of the OneStim pressure pumping business and the North America low-flow artificial lift business during the fourth quarter of 2020. These divestitures were consistent with Schlumberger’s strategy to focus on expanding margins, minimizing earnings volatility and focusing on less capital-intensive businesses by high-grading and rationalizing its business portfolio. The divested businesses accounted for approximately 25% of Schlumberger’s North America revenue in 2020. Excluding the impact of these divestitures, which generated $1.3 billion of revenue during 2020 (all of which was in North America), full-year 2021 global revenue grew 3% year-on-year, driven by an 8% increase in North America and a 2% increase in international revenue. Financial performance in 2021 was driven by global oil and gas activity growth in the second half of the year as investment spending experienced double-digit growth year-on-year."
87347_10K_2022_0001564590-23-000762.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 95%,"Sustainability SLB’s emissions reduction strategy is at the center of our identity and vision, and our commitment to a sustainable future is underscored by bold science-backed targets aligned with the Paris Agreement. In 2021, SLB became the first company in the energy services industry to commit to a 2050 net-zero greenhouse gas (“GHG”) emissions target including all three emission scopes. By setting targets based on SLB’s total 2019 baseline GHG footprint-inclusive of Scope 3 emissions (which accounted for approximately 95% of SLB’s baseline)-and not just its Scope 1 and 2 footprint, SLB’s comprehensive emissions reduction roadmap addressees the entire oil and gas value chain. SLB’s 2050 net zero target is supported by the following interim milestones, using 2019 as the baseline year: - by 2025, a 30% reduction in Scope 1 and Scope 2 emissions; - by 2030, a 50% reduction in Scope 1 and Scope 2 emissions; and - by 2030, a 30% reduction in Scope 3 emissions. There are three key components to SLB achieving the 2050 n"
87347_10K_2023_0000950170-24-006884.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 95%,"Sustainability SLB’s emissions reduction strategy is at the center of our identity and vision, and our commitment to a sustainable future is underscored by bold science-backed targets aligned with the Paris Agreement. In 2021, SLB became the first company in the energy services industry to commit to a 2050 net-zero greenhouse gas (“GHG”) emissions target including all three emission scopes. By setting targets based on SLB’s total 2019 baseline GHG footprint-inclusive of Scope 3 emissions (which accounted for approximately 95% of SLB’s baseline)-and not just its Scope 1 and 2 footprint, SLB’s comprehensive emissions reduction roadmap addresses the entire energy value chain. SLB’s 2050 net-zero target is supported by the following interim milestones, using 2019 as the baseline year: - by 2025, a 30% reduction in Scope 1 and Scope 2 emissions; - by 2030, a 50% reduction in Scope 1 and Scope 2 emissions; and - by 2030, a 30% reduction in Scope 3 emissions. SLB’s Scope 1 and 2 emissions primarily come from fuel use and e"
87347_10K_2024_0000950170-25-007638.json,item_1,(?i)accounted\s+for\s+(?:approximately\s+)?\d+\s*%,accounted for approximately 95%,"Sustainability SLB’s emissions reduction strategy is at the center of our identity and vision, and our commitment to a sustainable future is underscored by bold science-backed targets aligned with the Paris Agreement. In 2021, SLB became the first company in the energy services industry to commit to a 2050 net-zero greenhouse gas (“GHG”) emissions target including all three emission scopes. By setting targets based on SLB’s total 2019 baseline GHG footprint-inclusive of Scope 3 emissions (which accounted for approximately 95% of SLB’s baseline)-and not just its Scope 1 and 2 footprint, SLB’s comprehensive emissions reduction roadmap addresses the entire energy value chain. SLB’s 2050 net-zero target is supported by the following interim milestones, using 2019 as the baseline year: - by 2025, a 30% reduction in Scope 1 and Scope 2 emissions; - by 2030, a 50% reduction in Scope 1 and Scope 2 emissions; and - by 2030, a 30% reduction in Scope 3 emissions. SLB’s Scope 1 and 2 emissions primarily come from fuel use and e"