Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | ||
Sep. 30, 2013 | Oct. 03, 2013 | ||
Document And Entity Information [Abstract] | ' | ' | |
Document Type | '10-Q | ' | |
Amendment Flag | 'false | ' | |
Document Period End Date | 30-Sep-13 | ' | |
Document Fiscal Period Focus | 'Q3 | ' | |
Document Fiscal Year Focus | '2013 | ' | |
Entity Registrant Name | 'Crestwood Midstream Partners LP | ' | |
Entity Central Index Key | '0001389030 | ' | |
Current Fiscal Year End Date | '--12-31 | ' | |
Entity Filer Category | 'Large Accelerated Filer | ' | |
Entity Common Stock, Shares Outstanding | ' | 53,765,220 | [1] |
[1] | On October 7, 2013, Crestwood Midstream Partners LP merged with and into Inergy Midstream, L.P. |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Operating revenues | ' | ' | ' | ' | ||
Gathering revenues | $25,188 | $21,715 | [1] | $73,287 | $51,313 | [1] |
Gathering revenues - related party | 18,726 | 21,658 | [1] | 57,699 | 67,120 | [1] |
Processing revenues | 3,548 | 2,271 | [1] | 11,522 | 4,665 | [1] |
Processing revenues - related party | 5,421 | 6,298 | [1] | 16,618 | 19,619 | [1] |
Compression revenues | 4,075 | ' | 11,874 | ' | ||
Product sales | 14,180 | 11,071 | [1] | 43,653 | 29,258 | [1] |
Total operating revenues | 71,138 | 63,013 | [1] | 214,653 | 171,975 | [1] |
Operating expenses | ' | ' | ' | ' | ||
Product purchases | 5,295 | 10,341 | [1] | 18,197 | 26,755 | [1] |
Product purchases - related party | 7,556 | ' | 22,191 | ' | ||
Operations and maintenance | 14,895 | 10,942 | [1] | 40,503 | 30,053 | [1] |
General and administrative | 10,367 | 6,570 | [1] | 28,536 | 21,965 | [1] |
Depreciation, amortization and accretion | 14,557 | 11,568 | [1] | 49,618 | 35,909 | [1] |
Total operating expenses | 52,670 | 39,421 | [1] | 159,045 | 114,682 | [1] |
Goodwill impairment | -4,053 | ' | -4,053 | ' | ||
Gain on sale of asset | 4,392 | ' | 4,392 | ' | ||
Operating income | 18,807 | 23,592 | [1] | 55,947 | 57,293 | [1] |
Loss from unconsolidated affiliate | -447 | ' | -447 | ' | ||
Interest and debt expense | -11,625 | -8,905 | [1] | -34,260 | -25,425 | [1] |
Income before income taxes | 6,735 | 14,687 | [1] | 21,240 | 31,868 | [1] |
Income tax expense | 347 | 306 | [1] | 1,024 | 884 | [1] |
Net income | 6,388 | 14,381 | [1] | 20,216 | 30,984 | [1] |
Net income attributable to noncontrolling interest | 1,923 | ' | 1,923 | ' | ||
Net income attributable to Crestwood Midstream Partners LP | 4,465 | 14,381 | [1] | 18,293 | 30,984 | [1] |
General partner's interest in net income attributable to Crestwood Midstream Partners LP | 81 | 7,516 | [1] | 10,474 | 15,038 | [1] |
Limited partners' interest in net income attributable to Crestwood Midstream Partners LP | $4,384 | $6,865 | [1] | $7,819 | $15,946 | [1] |
Net income attributable to Crestwood Midstream Partners LP per limited partner unit: | ' | ' | ' | ' | ||
Basic and Diluted | $0.07 | $0.15 | [1] | $0.13 | $0.36 | [1] |
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $5,668 | $111 |
Accounts receivable | 27,666 | 21,636 |
Accounts receivable - related party | 24,050 | 23,755 |
Insurance receivable | 3,072 | 2,920 |
Prepaid expenses and other | 791 | 1,941 |
Total current assets | 61,247 | 50,363 |
Property, plant and equipment, net of accumulated depreciation of $168,497 in 2013 and $130,030 in 2012 | 1,144,872 | 939,846 |
Intangible assets, net of accumulated amortization of $22,448 in 2013 and $12,814 in 2012 | 428,880 | 501,380 |
Goodwill | 99,596 | 95,031 |
Investment in unconsolidated affiliate | 127,651 | ' |
Deferred financing costs, net | 20,719 | 22,528 |
Other assets | 1,018 | 1,321 |
Total assets | 1,883,983 | 1,610,469 |
Current liabilities | ' | ' |
Accrued additions to property, plant and equipment | 41,248 | 9,213 |
Capital leases | 2,945 | 3,862 |
Deferred revenue | 2,426 | 2,634 |
Accounts payable - related party | 4,517 | 3,088 |
Accounts payable, accrued expenses and other liabilities | 41,035 | 29,717 |
Total current liabilities | 92,171 | 48,514 |
Long-term debt | 899,386 | 685,161 |
Long-term capital leases | 1,252 | 3,161 |
Asset retirement obligations | 14,633 | 14,024 |
Commitments and contingent liabilities (Note 9) | ' | ' |
Partners' capital | ' | ' |
General partner (1,112,674 and 979,614 units issued and outstanding at September 30, 2013 and December 31, 2012) | -2,012 | 257,353 |
Total Crestwood Midstream Partners LP partners' capital | 778,545 | 859,609 |
Noncontrolling interests - preferred equity of subsidiary | 97,996 | ' |
Total partners' capital | 876,541 | 859,609 |
Total liabilities and partners' capital | 1,883,983 | 1,610,469 |
Common [Member] | ' | ' |
Partners' capital | ' | ' |
Limited partners' capital | 653,441 | 442,348 |
Class C Unitholders [Member] | ' | ' |
Partners' capital | ' | ' |
Limited partners' capital | ' | 159,908 |
Class D Unitholder [Member] | ' | ' |
Partners' capital | ' | ' |
Limited partners' capital | $127,116 | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Property, plant and equipment, accumulated depreciation | $168,497 | $130,030 |
Intangible assets, accumulated amortization | $22,448 | $12,814 |
General partner units issued | 1,112,674 | 979,614 |
General partner units outstanding | 1,112,674 | 979,614 |
Common [Member] | ' | ' |
Common units issued | 53,765,676 | 41,164,737 |
Common units outstanding | 53,765,676 | 41,164,737 |
Class C Unitholders [Member] | ' | ' |
Common units issued | ' | 7,165,819 |
Common units outstanding | ' | 7,165,819 |
Class D Unitholder [Member] | ' | ' |
Common units issued | 6,483,129 | ' |
Common units outstanding | 6,483,129 | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities | ' | ' | |
Net income | $20,216 | $30,984 | [1] |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | |
Depreciation, amortization and accretion | 49,618 | 35,909 | [1] |
Goodwill impairment | 4,053 | ' | |
Gain on sale of asset | -4,392 | ' | |
Equity-based compensation | 2,138 | 1,528 | [1] |
Loss from unconsolidated affiliate | 447 | ' | |
Other non-cash income items | 3,203 | 3,743 | [1] |
Changes in assets and liabilities: | ' | ' | |
Accounts receivable | -6,030 | -4,985 | [1] |
Accounts receivable - related party | -295 | 4,689 | [1] |
Insurance receivable | -152 | ' | |
Prepaid expenses and other assets | 1,453 | 783 | [1] |
Accounts payable - related party | 1,429 | -900 | [1] |
Accounts payable, accrued expenses and other liabilities | 9,665 | 6,117 | [1] |
Net cash provided by operating activities | 81,353 | 77,868 | [1] |
Cash flows from investing activities | ' | ' | |
Capital expenditures | -164,596 | -34,346 | [1] |
Acquisitions, net of cash acquired | ' | -468,987 | [1] |
Proceeds from sale of asset | 11,000 | ' | |
Investment in unconsolidated affiliate | -128,098 | ' | |
Other | 20 | ' | |
Net cash used in investing activities | -281,674 | -503,333 | [1] |
Cash flows from financing activities | ' | ' | |
Proceeds from credit facilities | 483,400 | 377,700 | [1] |
Repayments of credit facilities | -269,000 | -337,500 | [1] |
Payments on capital leases | -3,015 | -2,155 | [1] |
Deferred financing costs paid | -85 | -6,489 | [1] |
Proceeds from issuance of common units, net | 118,562 | 217,508 | [1] |
Proceeds from issuance of preferred equity of subsidiary, net | 96,073 | ' | |
Contributions from partners | ' | 249,680 | [1] |
Distribution to General Partner for additional interest in CMM | -129,000 | ' | |
Distributions to partners | -90,357 | -73,653 | [1] |
Taxes paid for equity-based compensation vesting | -700 | -406 | [1] |
Net cash provided by financing activities | 205,878 | 424,685 | [1] |
Change in cash and cash equivalents | 5,557 | -780 | [1] |
Cash and cash equivalents at beginning of period | 111 | 797 | [1] |
Cash and cash equivalents at end of period | $5,668 | $17 | [1] |
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Partners' Capital (USD $) | Common [Member] | Class C Unitholders [Member] | Class D Unitholder [Member] | General Partner [Member] | Noncontrolling Interest [Member] | Total | ||
In Thousands | ||||||||
Partners' capital at Dec. 31, 2011 | $286,945 | $157,386 | ' | $11,292 | ' | $455,623 | ||
Issuance of units, net of offering costs | 217,508 | ' | ' | ' | ' | 217,508 | ||
Contributions from partners | ' | ' | ' | 249,680 | ' | 249,680 | ||
Net income | 13,532 | 2,414 | ' | 15,038 | ' | 30,984 | [1] | |
Equity-based compensation | 1,528 | ' | ' | ' | ' | 1,528 | ||
Taxes paid for equity-based compensation vesting | -406 | ' | ' | ' | ' | -406 | ||
Distributions to partners | -56,730 | ' | ' | -16,923 | ' | -73,653 | ||
Partners' capital at Sep. 30, 2012 | [1] | 462,377 | 159,800 | ' | 259,087 | ' | 881,264 | |
Partners' capital at Dec. 31, 2012 | 442,348 | 159,908 | ' | 257,353 | ' | 859,609 | ||
Issuance of units, net of offering costs | 118,562 | ' | ' | ' | ' | 118,562 | ||
Issuance of units | ' | ' | 126,286 | -126,286 | ' | ' | ||
Issuance of preferred equity of subsidiary | ' | ' | ' | ' | 96,073 | 96,073 | ||
Conversion of Class C units to common units | 159,908 | -159,908 | ' | ' | ' | ' | ||
Net income | 6,989 | ' | 830 | 10,474 | 1,923 | 20,216 | ||
Equity-based compensation | 2,138 | ' | ' | ' | ' | 2,138 | ||
Taxes paid for equity-based compensation vesting | -700 | ' | ' | ' | ' | -700 | ||
Distributions to partners | -75,804 | ' | ' | -14,553 | ' | -90,357 | ||
Distribution to General Partner for additional interest in CMM | ' | ' | ' | -129,000 | ' | -129,000 | ||
Partners' capital at Sep. 30, 2013 | $653,441 | ' | $127,116 | ($2,012) | $97,996 | $876,541 | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Organization_And_Description_O
Organization And Description Of Business | 9 Months Ended |
Sep. 30, 2013 | |
Organization And Description Of Business [Abstract] | ' |
Organization And Description Of Business | ' |
1. ORGANIZATION AND DESCRIPTION OF BUSINESS | |
Organization | |
Prior to the Crestwood Midstream Partners LP (CMLP) merger with Inergy Midstream, L.P. (NRGM) on October 7, 2013 discussed below, CMLP was a publicly traded Delaware limited partnership formed for the purpose of acquiring and operating midstream assets. CMLP's common units were listed on the New York Stock Exchange (NYSE) under the symbol "CMLP." Crestwood Gas Services GP LLC was the CMLP general partner (General Partner) until the effective date of our Merger described below. On June 5, 2013, our General Partner distributed all of its common units and Class D units that it owned in us to Crestwood Holdings Partners LLC and its affiliates (Crestwood Holdings). Prior to June 19, 2013, the General Partner was owned by Crestwood Holdings. On June 19, 2013, Crestwood Holdings acquired the general partner of Inergy, L.P. (NRGY) and contributed its ownership of our General Partner and incentive distribution rights to NRGY in exchange for NRGY common units. | |
On October 7, 2013, CMLP completed the merger (the Merger) with a subsidiary of NRGM pursuant to a merger agreement dated as of May 5, 2013. Immediately following the Merger, CMLP merged with and into NRGM, with NRGM continuing as the surviving entity and changing its name to Crestwood Midstream Partners LP (Crestwood Midstream). The common units of the combined partnership are listed on the NYSE under the symbol "CMLP." Under the merger agreement, CMLP unitholders received 1.07 units of NRGM units for each unit of CMLP they owned and as a result, there were no CMLP common or Class D units outstanding immediately following the Merger. Additionally, CMLP unitholders (other than Crestwood Holdings), received a onetime approximately $35 million cash payment at the closing of the Merger, or $1.03 per unit, $25 million of which was paid by NRGM and approximately $10 million of which was paid by Crestwood Holdings. Also in conjunction with the Merger, CMLP was delisted on the NYSE. | |
Organizational Structure – Will be updated to reflect Preferred Units in Crestwood Niobrara | |
The following chart depicts our ownership structure as of September 30, 2013: | |
(1) Concurrent with the October 7, 2013 merger discussed above, NRGY changed its name from Inergy, L.P. to Crestwood Equity Partners LP and changed its NYSE listing symbol from "NRGY" to "CEQP." | |
Description of Business | |
We are a growth-oriented midstream master limited partnership which owns and operates predominately fee-based gathering, processing, treating and compression assets servicing producers in the Marcellus Shale in northern West Virginia, the Barnett Shale in north Texas, the Fayetteville Shale in northwestern Arkansas, the Granite Wash in the Texas Panhandle, the Avalon Shale/Bone Spring in southeastern New Mexico and the Haynesville/Bossier Shale in western Louisiana. | |
Basis_Of_Presentation_And_Summ
Basis Of Presentation And Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract] | ' |
Basis Of Presentation And Summary Of Significant Accounting Policies | ' |
2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | |
We prepared this Quarterly Report on Form 10-Q under the rules and regulations of the SEC and in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim consolidated financial statements. Accordingly, they do not include all of the disclosures required by GAAP. | |
On March 26, 2012, Crestwood Holdings contributed approximately $244 million for a 65% membership interest in Crestwood Marcellus Midstream LLC (CMM) and we contributed approximately $131 million for a 35% membership interest in CMM. On January 8, 2013, we acquired Crestwood Holdings' 65% membership interest in CMM and as a result, we now own 100% of CMM and have the ability to control the operating and financial decisions of CMM. We accounted for this transaction as a reorganization of entities under common control and the accounting standards related to such transactions require us to retroactively adjust our historical results. Accordingly, the consolidated balance sheets reflect the historical carrying value of CMM's assets and liabilities. Earnings related to the recast of our historical results due to the acquisition of the 65% membership interest in CMM were allocated to the General Partner. As a result, there was no impact to our 2012 reported basic or diluted earnings per limited partner unit. We funded the purchase price for the 65% membership interest in CMM of approximately $258 million through $129 million of borrowings under our CMLP credit facility, the issuance of 6,190,469 Class D units, representing limited partner interests in us to Crestwood Holdings, and the issuance of 133,060 general partner units to our General Partner. For accounting purposes, because of the consolidation of CMM, we reflected the $129 million cash paid to acquire the 65% interest in CMM and the issuance of Class D units as a reduction of our General Partner's capital. | |
You should read this Quarterly Report on Form 10-Q along with our Form 8-K filed with the SEC on May 10, 2013. The financial statements as of September 30, 2013 and for the three and nine months ended September 30, 2013 and 2012 are unaudited. The consolidated balance sheet as of December 31, 2012, was derived from the audited balance sheet filed in our Form 8-K filed with the SEC on May 10, 2013. In management's opinion, all necessary adjustments to fairly present our results of operations, financial position and cash flows for the periods presented have been made and all such adjustments are of a normal and recurring nature. Information for interim periods may not be indicative of our operating results for the entire year. Our disclosures in this Form 10-Q are an update to those provided in our Form 8-K filed with the SEC on May 10, 2013. | |
Significant Accounting Policies | |
There were no changes in the significant accounting policies described in our 2012 Annual Report on Form 10-K filed with the SEC on February 27, 2013, except as noted below. | |
Revenues | |
Our revenues are generated from the gathering, compression and processing of natural gas from producers predominately under fee-based contracts. Our gathering revenues relate to contracts pursuant to which we both transport and compress natural gas based on the volumes that flow through our systems and are not directly dependent on commodity prices. Compression revenues relate to contracts under which we solely provide compression services or contracts under which we charge a compression services fee that is separate from other services provided under our contracts. For the three and nine months ended September 30, 2013, our compression revenues were entirely comprised of services provided under contracts obtained in the E. Marcellus Asset Company, LLC (EMAC) acquisition (See Note 3). The majority of our processing revenues are generated from contracts under which we charge a fixed-fee. Under certain of our processing contracts, raw natural gas is gathered, processed and sold at published index prices. Producers are paid based on an agreed percentage of the residue gas and NGLs multiplied by index prices or the actual sale prices. | |
Goodwill | |
Our goodwill represents consideration paid in excess of the fair value of the identifiable assets acquired in a business combination. We have assigned our goodwill to four of our operating segments (Marcellus, Granite Wash, Fayetteville and Haynesville) which, based on management's judgment, we also consider reporting units for goodwill assessment purposes. | |
We evaluate goodwill for impairment, at a minimum, annually on December 31, or whenever events or changes indicate that it is more likely than not that the fair value of a reporting unit could be less than its carrying amount. This evaluation requires us to compare the fair value of each of the three reporting units above to its carrying value (including goodwill). If the fair value exceeds the carry amount, goodwill of the reporting unit is not considered impaired. | |
We estimate the fair value of our reporting units based on a number of factors, including the potential value we would receive if we sold the reporting unit, discount rates and projected cash flows. Projected cash flows of the reporting unit are generally based on current and anticipated future market conditions, which require significant judgment to make projections and assumptions about pricing, demand, competition, operating costs, legal and regulatory issues and other factors that may extend many years into the future and are often outside of our control. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. | |
During the three months ended September 30, 2013, we recorded an impairment of goodwill of approximately $4 million on our Haynesville/Bossier Shale system as a result of a decrease in anticipated revenues to be generated from those operations due primarily to our inability to renew and extend a significant revenue contract that expired in mid-2013. | |
Investment in Unconsolidated Affiliate | |
We apply the equity method of accounting where we can exert significant influence over, but do not control or direct, the policies, decisions or activities of the entity. We use the cost method of accounting where we are unable to exert significant influence over the entity. The Financial Accounting Standards Board's accounting standards related to equity method investments and joint ventures requires entities to periodically review their equity method investments to determine whether current events or circumstances indicate that the carrying value of the equity method investment may be impaired. We evaluate our equity method investment for impairment when there are indicators of impairment. If indicators suggest impairment we will perform an impairment test to assess whether an adjustment is necessary. The impairment test considers whether the fair value of our equity method investment has declined and if any such decline is other than temporary. If a decline in fair value is determined to be other than temporary, the investment's carrying value is written down to fair value. | |
Acquisitions_And_Divestitures
Acquisitions And Divestitures | 9 Months Ended | ||
Sep. 30, 2013 | |||
Acquisitions And Divestitures [Abstract] | ' | ||
Acquisitions And Divestitures | ' | ||
3. ACQUISITIONS AND DIVESTITURES | |||
Acquisitions | |||
Antero Acquisition | |||
On February 27, 2012, we announced the execution, through CMM, of an Asset Purchase Agreement related to the acquisition of gathering assets owned by Antero Resources Appalachian Corporation (Antero) in the Marcellus Shale located in Harrison and Doddridge Counties, West Virginia (Antero Acquisition), and, at closing, the planned execution of a 20 year, fixed-fee, Gas Gathering and Compression Agreement (GGA) with Antero. On March 26, 2012, CMM completed the Antero Acquisition for approximately $380 million. The assets acquired by CMM consisted of a 33 mile low pressure gathering system which delivers Antero's Marcellus Shale production to various regional pipeline systems including Columbia, Dominion, Equitrans and MarkWest Energy Partners' Sherwood Gas Processing Plant. | |||
The GGA with Antero provides for an area of dedication at the time of acquisition of approximately 127,000 gross acres, or 104,000 net acres, largely located in the rich gas corridor of the southwestern core of the Marcellus Shale play. As part of the GGA, Antero committed to deliver minimum annual throughput volumes to us for a seven year period from January 1, 2012 to January 1, 2019, ranging from an average of 300 million cubic feet per day (MMcf/d) in 2012 to an average of 450 MMcf/d in 2018. During the period ended December 31, 2012, Antero delivered less than the minimum annual throughput volumes and at December 31, 2012, we recorded a receivable and deferred revenue of approximately $2.6 million due to Antero's potential ability to recover this amount if Antero's 2013 throughput volumes exceed the minimum annual throughput volumes included in the GGA for 2013. | |||
The final purchase price allocation is as follows (In thousands): | |||
Cash | $ | 381,718 | |
Total purchase price | $ | 381,718 | |
Purchase price allocation: | |||
Property, plant and equipment | $ | 90,562 | |
Intangible assets | 291,218 | ||
Total assets | $ | 381,780 | |
Asset retirement obligation | $ | 62 | |
Total liabilities | $ | 62 | |
Total | $ | 381,718 | |
Our intangible assets recorded as a result of the Antero Acquisition relate to the GGA with Antero. These intangible assets will be amortized over the life of the contract. For the period from the acquisition date (March 26, 2012) to September 30, 2012, we recorded approximately $15 million of operating revenues and $7 million of operating expenses related to the operations of the assets acquired from Antero. | |||
Devon Acquisition | |||
On August 24, 2012, we completed the acquisition of certain gathering and processing assets in the NGL rich gas region of the Barnett Shale (Devon Acquisition) from Devon Energy Corporation (Devon). We paid approximately $88 million for these assets. During the three months ended September 30, 2013, we finalized the purchase price allocation of the assets acquired and liabilities assumed, and as a result, we reduced our depreciation, amortization and accretion expense by approximately $2 million. | |||
The final purchase price allocation is as follows (In thousands): | |||
Cash | $ | 87,943 | |
Total purchase price | $ | 87,943 | |
Purchase price allocation: | |||
Property, plant and equipment | $ | 88,626 | |
Total assets | $ | 88,626 | |
Asset retirement obligation | $ | 483 | |
Environmental liability | 200 | ||
Total liabilities | $ | 683 | |
Total | $ | 87,943 | |
We believe that it is impracticable to present financial information for the acquired assets prior to the acquisition date due to the lack of availability of historical financial information related to the acquired assets, and because the 20 year fixed-fee gathering, processing and compression agreement with Devon has significantly different terms than the historical intercompany relationships between the acquired assets and Devon. | |||
EMAC Acquisition | |||
On December 28, 2012, CMM acquired all of the membership interest of E. Marcellus Asset Company, LLC (EMAC) from Enerven Compression, LLC (Enerven) for approximately $95 million. We financed this acquisition through our CMM credit facility. At the time of acquisition, EMAC's assets consisted of four compression and dehydration stations located on our gathering systems in Harrison County, West Virginia. These assets provide compression and dehydration services to Antero under a compression services agreement through 2018. Antero has the option to renew the agreement for an additional five years upon expiration of the original agreement. | |||
During the three months ended September 30, 2013, we finalized the purchase price allocation of the assets acquired and liabilities assumed, and as a result, we reduced our depreciation, amortization and accretion expense by approximately $1 million. In addition, we recognized goodwill of approximately $9 million, primarily related to anticipated operating synergies between the assets acquired and our existing assets. | |||
The final purchase price allocation is as follows (In thousands): | |||
Cash | $ | 94,979 | |
Total purchase price | $ | 94,979 | |
Purchase price allocation: | |||
Property, plant and equipment | $ | 53,357 | |
Intangible assets | 33,909 | ||
Goodwill | 8,618 | ||
Total assets | $ | 95,884 | |
Asset retirement obligation | $ | 755 | |
Environmental liability | 150 | ||
Total liabilities | $ | 905 | |
Total | $ | 94,979 | |
Our intangible assets recorded as a result of the EMAC acquisition relate to the compression services agreements with Antero. These intangible assets will be amortized over the life of the contract. Pro forma information has not been provided for the acquisition of the EMAC assets as the impact is immaterial to our financial statements. | |||
Divestitures | |||
On July 25, 2013, we sold a cryogenic plant and associated equipment for approximately $11 million (net of fees) and recognized a gain of approximately $4 million during the three months ended September 30, 2013. | |||
Earnings_Per_Limited_Partner_U
Earnings Per Limited Partner Unit And Distributions | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Earnings Per Limited Partner Unit And Distributions [Abstract] | ' | |||||||||||||||||||
Earnings Per Limited Partner Unit And Distributions | ' | |||||||||||||||||||
4. EARNINGS PER LIMITED PARTNER UNIT AND DISTRIBUTIONS | ||||||||||||||||||||
Earnings Per Limited Partner Unit. Our net income attributable to CMLP is allocated to the General Partner and the limited partners, in accordance with their respective ownership percentages, after giving effect to incentive distributions paid to the General Partner. To the extent cash distributions exceed net income attributable to CMLP, the excess distributions are allocated proportionately to all participating units outstanding based on their respective ownership percentages. Basic earnings per unit are computed by dividing net income attributable to limited partner unitholders by the weighted-average number of limited partner units outstanding during each period. Diluted earnings per unit are computed using the treasury stock method, which considers the impact to net income attributable to CMLP and limited partner units from the potential issuance of limited partner units. | ||||||||||||||||||||
The tables below show the (i) allocation of net income attributable to limited partners and the (ii) net income attributable to CMLP per limited partner unit based on the number of basic and diluted limited partner units outstanding for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||
Allocation of Net Income Attributable to CMLP to General Partner and Limited Partners | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Net income attributable to CMLP | $ | 4,465 | $ | 14,381 | $ | 18,293 | $ | 30,984 | ||||||||||||
General Partner's incentive distributions (1) | — | (4,101 | ) | (10,140 | ) | (10,636 | ) | |||||||||||||
Net income attributable to CMLP after incentive distributions | 4,465 | 10,280 | 8,153 | 20,348 | ||||||||||||||||
General Partner's interest in net income attributable to CMLP | ||||||||||||||||||||
after incentive distributions | (81 | ) | (3,415 | ) | (334 | ) | (4,402 | ) | ||||||||||||
Limited Partners' interest in net income attributable to CMLP | ||||||||||||||||||||
after distributions | $ | 4,384 | $ | 6,865 | $ | 7,819 | $ | 15,946 | ||||||||||||
(1) As a result of the Merger on October 7, 2013 described in Note 1. Organization and Description of Business, there were no distributions to CMLP's unitholders for the three months ended September 30, 2013; therefore, our General Partner did not receive any incentive distributions attributable to that period. | ||||||||||||||||||||
Earnings Per Limited Partner Unit | ||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Limited partners' interest in net income attributable to CMLP | $ | 4,384 | $ | 6,865 | ||||||||||||||||
Weighted-average limited partner units—basic (1) | 60,188 | 46,564 | ||||||||||||||||||
Effect of dilutive units | 260 | 203 | ||||||||||||||||||
Weighted-average limited partner units—diluted (1) | 60,448 | 46,767 | ||||||||||||||||||
Basic and diluted net income attributable to CMLP per limited | ||||||||||||||||||||
partner unit | $ | 0.07 | $ | 0.15 | ||||||||||||||||
(1) The three months ended September 30, 2013 includes 6,421,641 Class D units. The three months ended September 30, 2012 includes 6,929,763 Class C units. | ||||||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Limited partners' interest in net income attributable to CMLP | $ | 7,819 | $ | 15,946 | ||||||||||||||||
Weighted-average limited partner units—basic (1) | 58,339 | 44,206 | ||||||||||||||||||
Effect of dilutive units | 269 | 189 | ||||||||||||||||||
Weighted-average limited partner units—diluted (1) | 58,608 | 44,395 | ||||||||||||||||||
Basic and diluted net income attributable to CMLP per limited | ||||||||||||||||||||
partner unit | $ | 0.13 | $ | 0.36 | ||||||||||||||||
(1) The nine months ended September 30, 2013 includes 8,536,178 Class C and Class D units. The nine months ended September 30, 2012 includes 6,795,130 Class C units. | ||||||||||||||||||||
We exclude potentially dilutive securities from the determination of diluted earnings per unit (as well as their related income statement impacts) when their impact on net income attributable to CMLP per limited partner unit is anti-dilutive. For the three and nine months ended September 30, 2013, we excluded 3,262,275 and 1,099,375 preferred security units issued by our consolidated subsidiary, Crestwood Niobrara LLC (Crestwood Niobrara), from our diluted earnings per unit. There were no units excluded from our diluted earnings per unit as we did not have any anti-dilutive units for the three and nine months ended September 30, 2012. Our potentially dilutive securities for the three and nine months ended September 30, 2013 and 2012 consist of unvested phantom units. | ||||||||||||||||||||
Distributions. Our Second Amended and Restated Agreement of Limited Partnership, dated February 19, 2008, as amended (Partnership Agreement), requires that, within 45 days after the end of each quarter, we distribute all of our Available Cash (as defined therein) to unitholders of record on the applicable record date, as determined by our General Partner. As a result of the Merger on October 7, 2013 described in Note 1. Organization and Description of Business, there were no distributions to CMLP's unitholders for the three months ended September 30, 2013. Under the merger agreement, CMLP unitholders received 1.07 units of NRGM units for each unit of CMLP they owned and such unitholders will receive a distribution for the three months ended September 30, 2013 as determined by Crestwood Midstream's board of directors. | ||||||||||||||||||||
The following table presents distributions for 2013 and 2012 (In millions, except per unit data): | ||||||||||||||||||||
Distributions Paid | ||||||||||||||||||||
Limited Partner | General Partner | |||||||||||||||||||
Paid-In-Kind | Paid-In-Kind | Cash paid | Paid-In-Kind | Paid-In-Kind | ||||||||||||||||
Value to | Value to | to General | Value to | Value to | ||||||||||||||||
Attributable to the Per Unit | Cash paid | Class C | Class D | Partner | Class C | Class D | Total | Total | ||||||||||||
Payment Date | Quarter Ended | Distribution | to common(1) | unitholders | unitholder | and IDR | unitholder | unitholder | Cash | Distribution | ||||||||||
2013 | ||||||||||||||||||||
August 9, | ||||||||||||||||||||
2013 | 30-Jun-13 | $ | 0.51 | $ | 27.4 | $ | — | $ | 3.2 | $ | 5.2 | $ | — | $ | 0.5 | $ | 32.6 | $ | 36.3 | |
May 10, | ||||||||||||||||||||
2013 | 31-Mar-13 | $ | 0.51 | $ | 27.4 | $ | — | $ | 3.2 | $ | 5.2 | $ | — | $ | 0.5 | $ | 32.6 | $ | 36.3 | |
February 12, | ||||||||||||||||||||
2013 | 31-Dec-12 | $ | 0.51 | $ | 21 | $ | 3.7 | $ | — | $ | 4.1 | $ | 0.6 | $ | — | $ | 25.1 | $ | 29.4 | |
2012 | ||||||||||||||||||||
November 9, | ||||||||||||||||||||
2012 | 30-Sep-12 | $ | 0.51 | $ | 21 | $ | 3.5 | $ | — | $ | 4.1 | $ | 0.6 | $ | — | $ | 25.1 | $ | 29.2 | |
August 10, | ||||||||||||||||||||
2012 | 30-Jun-12 | $ | 0.5 | $ | 20.6 | $ | 3.4 | $ | — | $ | 3.7 | $ | 0.5 | $ | — | $ | 24.3 | $ | 28.2 | |
May 11, | ||||||||||||||||||||
2012 | 31-Mar-12 | $ | 0.5 | $ | 18.2 | $ | 3.4 | $ | — | $ | 3.3 | $ | 0.5 | $ | — | $ | 21.5 | $ | 25.4 | |
February 10, | ||||||||||||||||||||
2012 | 31-Dec-11 | $ | 0.49 | $ | 17.9 | $ | 3.2 | $ | — | $ | 2.8 | $ | 0.5 | $ | — | $ | 20.7 | $ | 24.4 | |
(1) Distributions for the quarters ended June 30, 2012 and September 30, 2012 exclude approximately $3 million and $4 million paid by CMM to Crestwood Holdings. | ||||||||||||||||||||
Our Class D units are substantially similar in all respects to our existing common units, representing limited partner interests, except that we have the option to pay distributions to our Class D unitholders with cash or by issuing additional Paid-In-Kind Class D units, based upon the volume weighted-average price of our common units for the 10 trading days immediately preceding the date the distribution is declared. We issued 151,238 and 141,422 additional Class D units in lieu of paying cash quarterly distributions on our Class D units attributable to the quarters ended March 31, 2013 and June 30, 2013. | ||||||||||||||||||||
On April 1, 2013, our outstanding Class C units converted to common units on a one-for-one basis. Prior to the conversion of our Class C units to common, we had the option to pay distributions to our Class C unitholders with cash or by issuing additional Paid-In-Kind Class C units, based upon the volume weighted-average price of our common units for the 10 trading days immediately preceding the date the distribution is declared. The unitholders of the converted units received a quarterly cash distribution for the period ended March 31, 2013 although the Class C units were not converted until April 1, 2013. We issued 136,128, 138,731 and 174,230 additional Class C units in lieu of paying cash quarterly distributions on our Class C units attributable to the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012. | ||||||||||||||||||||
On March 22, 2013, we completed a public offering of 4,500,000 common units, representing limited partner interests in us, at a price of $23.90 per common unit ($23.00 per common unit, net of underwriting discounts) providing net proceeds of approximately $103.5 million. We granted the underwriters a 30-day option to purchase up to 675,000 additional common units if the underwriters sold more than 4,500,000 common units in the offering. The underwriters exercised this option on April 5, 2013 providing net proceeds of approximately $15.5 million. The unitholders of these common units received a quarterly distribution for the period ended March 31, 2013. | ||||||||||||||||||||
Investment_In_Unconsolidated_A
Investment In Unconsolidated Affiliate | 9 Months Ended |
Sep. 30, 2013 | |
Investment In Unconsolidated Affiliate [Abstract] | ' |
Investment In Unconsolidated Affiliate | ' |
5. INVESTMENT IN UNCONSOLIDATED AFFILIATE | |
On July 19, 2013, Crestwood Niobrara acquired RKI Exploration and Production, LLC's (RKI) 50% interest in Jackalope Gas Gathering Services, L.L.C. (Jackalope) for approximately $108 million. RKI is a privately-owned, independent exploration and production company in which an affiliate of our General Partner owns a significant minority ownership interest, and therefore is considered our related party. Access Midstream Partners, L.P. (Access) owns the remaining 50% interest in and operates Jackalope. Crestwood Niobrara manages the commercial operations of the Jackalope system. We account for our investment in Jackalope under the equity method of accounting. | |
The Jackalope gathering and processing system is currently comprised of approximately 100 miles of gathering pipelines and 9,400 horsepower of compression equipment located in Converse County, Wyoming. The existing Jackalope assets and planned future development are supported by a 20-year gathering and processing agreement with Chesapeake Energy Corporation and RKI under which Jackalope receives cost-of-service based fees with annual redeterminations. The gathering and processing agreements provide for an area of dedication of approximately 311,000 gross acres located in the core of the Powder River Basin Niobrara Shale. During the three months ended September 30, 2013, Crestwood Niobrara contributed an additional $20 million to Jackalope to fund its construction projects. | |
We have reflected the earnings from our investment in Jackalope in our consolidated statements of income, which includes our share of net earnings based on our ownership interest and other adjustments recorded by us as discussed below. During the three and nine months ended September 30, 2013, our share of Jackalope's net earnings was approximately $0.2 million. As of September 30, 2013, our investment balance in Jackalope exceeded our equity in the underlying net assets of Jackalope by approximately $57 million. We amortize and generally assess the recoverability of this amount based on the life of Jackalope's gathering agreement. The amortization is reflected as a reduction of our earnings from unconsolidated affiliate, and during the three and nine months ended September 30, 2013, we recorded amortization expense of approximately $0.6 million. | |
In accordance with the Jackalope limited liability company agreement, Jackalope is required to make quarterly distributions of its available cash to its members based on their respective ownership percentage. | |
Preferred_Equity_Of_Subsidiary
Preferred Equity Of Subsidiary | 9 Months Ended |
Sep. 30, 2013 | |
Preferred Equity Of Subsidiary [Abstract] | ' |
Preferred Equity Of Subsidiary | ' |
6. PREFERRED EQUITY OF SUBSIDIARY | |
In conjunction with Crestwood Niobrara's acquisition discussed in Note 5. Investment in Unconsolidated Affiliate, Crestwood Niobrara issued a preferred interest of approximately $81 million to a subsidiary of General Electric Capital Corporation and GE Structured Finance, Inc. (collectively, GE EFS). The preferred interest is reflected as noncontrolling interest in our consolidated financial statements. During the three and nine months ended September 30, 2013, we allocated approximately $2 million of net income to the noncontrolling interest, which was based on the overall return attributable to the preferred security. | |
Crestwood Niobrara will fund 75% of future capital contributions to Jackalope through additional preferred interest issuances to GE EFS (up to a maximum of an additional $69 million), with the remainder to be funded through our capital contributions to Crestwood Niobrara. During the three and nine months ended September 30, 2013, GE EFS contributed approximately $96 million (which consisted of the initial contribution of $81 million and additional capital contributions of approximately $15 million) to Crestwood Niobrara in exchange for an equivalent number of preferred units. The proceeds from the initial GE EFS contribution were used to purchase the investment in Jackalope and the proceeds from the subsequent contributions were used to fund capital contributions to the Jackalope investment. | |
In accordance with the Crestwood Niobrara limited liability company agreement, Crestwood Niobrara has the option to pay distributions to GE EFS with cash or by issuing additional preferred units through the January 2015 distribution. On October 30, 2013, Crestwood Niobrara issued GE EFS approximately 2,161,657 million units in lieu of paying a cash distribution. We serve as the managing member of Crestwood Niobrara and, subject to certain restrictions, we have the ability to redeem GE EFS' preferred security in either cash or CMLP common units of the combined partnership as discussed in Note 1. Organization and Description of Business. | |
Financial_Instruments
Financial Instruments | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Financial Instruments [Abstract] | ' | ||||||||
Financial Instruments | ' | ||||||||
7. FINANCIAL INSTRUMENTS Fair Values | |||||||||
We separate the fair values of our financial instruments into three levels (Levels 1, 2 and 3) based on our assessment of the availability of observable market data and the significance of non-observable data used to determine fair value. Our assessment and classification of an instrument within a level can change over time based on the maturity or liquidity of the instrument and would be reflected at the end of the period in which the change occurs. At September 30, 2013 and December 31, 2012, there have been no changes to the inputs and valuation techniques used to measure fair value, the types of instruments, or the levels in which they are classified. | |||||||||
Cash and Cash Equivalents, Accounts Receivable and Accounts Payable. As of September 30, 2013 and December 31, 2012, the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable represent fair value based on the short-term nature of these instruments. | |||||||||
Credit Facilities. The fair value of our credit facilities approximates their carrying amounts as of September 30, 2013 and December 31, 2012 due primarily to the variable nature of the interest rate of the instrument, which is considered a Level 2 fair value measurement. | |||||||||
Senior Notes. We estimated the fair value of our 7.75% Senior Notes due April 2019 (Senior Notes) (representing a Level 2 fair value measurement) primarily based on quoted market prices for the same or similar issuances. The following table reflects the carrying value and fair value of our Senior Notes (In millions): | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Carrying | Fair | Carrying | Fair | ||||||
Amount | Value | Amount | Value | ||||||
Senior Notes | $ | 351 | $ | 369 | $ | 351 | $ | 365 | |
Debt | |||||||||
Our long-term debt consists of the following (In thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
CMM Credit Facility, due March 2017 | $ | 191,900 | $ | 127,000 | |||||
CMLP Credit Facility, due November 2017 | 356,200 | 206,700 | |||||||
Senior Notes, due April 2019 | 350,000 | 350,000 | |||||||
898,100 | 683,700 | ||||||||
Plus: Unamortized premium on Senior Notes | 1,286 | 1,461 | |||||||
Total long-term debt | $ | 899,386 | $ | 685,161 | |||||
Credit Facilities | |||||||||
CMM Credit Facility. In conjunction with the Merger discussed in Note 1. Organization and Description of Business, we terminated the CMM credit agreement (CMM Credit Facility). No amounts were outstanding under the CMM Credit Facility following the consummation of the Merger. The CMM credit agreement allowed for revolving loans, letters of credit and swingline loans in an aggregate principal amount of up to $200 million. The CMM Credit Facility was secured by substantially all of CMM's assets. | |||||||||
Borrowings under the CMM Credit Facility bore interest at the London Interbank Offered Rate (LIBOR) plus an applicable margin or base rate as defined in the CMM Credit Facility. Under the terms of the CMM Credit Facility, the applicable margin under LIBOR was 2.8% and 2.5% at September 30, 2013 and December 31, 2012. The weighted-average interest rate at September 30, 2013 and December 31, 2012 was 3.0% and 2.8%. For the three and nine months ended September 30, 2013, our average outstanding borrowings were approximately $157 million and $126 million. For the three and nine months ended September 30, 2013, our maximum outstanding borrowings were approximately $192 million. | |||||||||
CMLP Credit Facility. In conjunction with the Merger discussed in Note 1. Organization and Description of Business, we terminated the CMLP amended and restated senior secured credit agreement (CMLP Credit Facility). No amounts were outstanding under the CMLP Credit Facility following the consummation of the Merger. The CMLP Credit Facility allowed for revolving loans, letters of credit and swingline loans in an aggregate amount of up to $550 million. The CMLP Credit Facility was secured by substantially all of CMLP's assets and those of certain of its subsidiaries. As of September 30, 2013, the CMLP Credit Facility was guaranteed by our 100% owned subsidiaries except for Crestwood Niobrara and CMM and its consolidated subsidiaries. | |||||||||
Borrowings under the CMLP Credit Facility bore interest at LIBOR plus an applicable margin or a base rate as defined in the CMLP Credit Facility. Under the terms of the CMLP Credit Facility, the applicable margin under LIBOR borrowings was 2.8% and 2.5% at September 30, 2013 and December 31, 2012. The weighted-average interest rate as of September 30, 2013 and December 31, 2012 was 3.0% and 2.8%. For the three and nine months ended September 30, 2013, our average outstanding borrowings were $343 million and $330 million. For the three and nine months ended September 30, 2013, our maximum outstanding borrowings were $365 million and $373 million. | |||||||||
Senior Notes | |||||||||
In November 2012, we issued $150 million aggregate principal amount of 7.75% Senior Notes in a private placement offering. These notes were issued as additional notes under the indenture dated April 1, 2011 among us, Crestwood Midstream Finance Corporation, the guarantors names therein, and The Bank of New York Mellon Trust Company, N.A., as trustee, pursuant to which we previously issued our $200 million aggregate principal amount of 7.75% Senior Notes in April 2011. In conjunction with the Merger discussed in Note 1. Organization and Description of Business, CMLP entered into a supplemental indenture governing the 7.75% Senior Notes. Pursuant to the supplemental indenture, Crestwood Midstream Partners LP (formerly NRGM) and Crestwood Midstream Finance Corp (formerly NRGM Finance Corp.), which we refer to together as the Successor Issuers, have unconditionally assumed all of the obligations under the 7.75% Senior Notes due April 2019. In addition, certain subsidiaries have entered into financial guarantees pursuant to which they unconditionally guarantee the obligations under the indenture and Senior Notes. | |||||||||
Accounts_Payable_Accrued_Expen
Accounts Payable, Accrued Expenses And Other Liabilities | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Accounts Payable, Accrued Expenses And Other Liabilities [Abstract] | ' | ||||
Accounts Payable, Accrued Expenses And Other Liabilities | ' | ||||
8. ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES | |||||
Accounts payable, accrued expenses and other liabilities consist of the following (In thousands): | |||||
September 30, | December 31, | ||||
2013 | 2012 | ||||
Accrued expenses | $ | 11,305 | $ | 9,608 | |
Accrued property taxes | 5,843 | 5,638 | |||
Accrued product purchases payable | 1,818 | 2,450 | |||
Tax payable | 1,353 | 2,159 | |||
Interest payable | 14,054 | 7,505 | |||
Accounts payable | 6,653 | 2,278 | |||
Other | 9 | 79 | |||
Total accounts payable, accrued expenses and other liabilities | $ | 41,035 | $ | 29,717 | |
Commitments_And_Contingent_Lia
Commitments And Contingent Liabilities | 9 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingent Liabilities [Abstract] | ' |
Commitments And Contingent Liabilities | ' |
9. COMMITMENTS AND CONTINGENT LIABILITIES | |
Legal Proceedings | |
Class Action Lawsuits. Five putative class action lawsuits challenging the Merger were filed, four in federal court in the United States District Court for the Southern District of Texas: (i) Abraham Knoll v. Robert G. Phillips, et al. (Case No. 4:13-cv-01528, filed May 23, 2013); (ii) Greg Podell v. Crestwood Midstream Partners, LP, et al. (Case No. 4:13-cv-01599, filed May 30, 2013); (iii) Johnny Cooper v. Crestwood Midstream Partners LP, et al. (Case No. 4:13-cv-01660, filed June 7, 2013), subsequently replaced as named plaintiff in this action by Linda Giaimo; and (iv) Steven Elliot LLC v. Robert G. Phillips, et al. (Case No. 4:13-cv-01763, filed June 17, 2013), and one in the Delaware Court of Chancery; Hawley v. Crestwood Midstream Partners LP, et al. (Case No. 8689-VCL, filed June 27, 2013). All the cases name Crestwood, Crestwood Gas Services GP LLC, Crestwood Holdings LLC, the current and former directors of Crestwood Gas Services GP LLC, Inergy, L.P., Inergy Midstream, L.P., NRGM GP, LLC, and Intrepid Merger Sub, LLC as defendants. All of the suits were brought by a purported holder of common units of Crestwood, both individually and on behalf of a putative class consisting of holders of common units of Crestwood. The lawsuits generally alleged, among other things, that the directors of Crestwood Gas Services GP LLC breached their fiduciary duties to holders of common units of Crestwood by agreeing to a transaction with inadequate consideration and unfair terms and pursuant to an inadequate process. The lawsuits further alleged that Inergy, L.P., Inergy Midstream, L.P., NRGM GP, LLC, and Intrepid Merger Sub, LLC aided and abetted the Crestwood directors in the alleged breach of their fiduciary duties. The lawsuits sought, in general, (i) injunctive relief enjoining the merger, (ii) in the event the merger is consummated, rescission or an award of rescissory damages, (iii) an award of plaintiffs' costs, including reasonable attorneys' and experts' fees, (iv) the accounting by the defendants to plaintiffs for all damages caused by the defendants, and (v) such further equitable relief as the court deems just and proper. The four federal actions also asserted claims of inadequate disclosure under Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and the Elliot case also named Citigroup Global Markets Inc. as an alleged aider and abettor. The plaintiff in the Hawley action in Delaware filed a motion for expedited proceedings but subsequently withdrew that motion and then filed a stipulation voluntarily dismissing the action without prejudice, which was granted by the Court, such that the Hawley action was dismissed. The plaintiff in the Elliot action filed a motion for expedited discovery, which was denied by the Court. The plaintiffs in the Knoll, Podell, Cooper, and Elliot actions filed an unopposed motion to consolidate these four cases, which the Court granted and captioned the consolidated matters as In re: Crestwood Midstream Partners Unitholder Litigation, Lead Case No. 4:12-cv-01528 (the Consolidated Action). The plaintiffs entered into a Memorandum of Understanding (MOU) on September 24, 2013 to settle the Consolidated Action whereby the defendants denied liability. The settlement contemplated by the MOU is subject to a number of conditions, including notice to the class and final court approval following completion of a settlement hearing. The defendants expect the Court to approve the terms of the MOU by the end of the first quarter of 2014. The anticipated settlement of the MOU will not have a material impact to our consolidated financial statements. | |
From time to time, we are party to certain legal or administrative proceedings that arise in the ordinary course and are incidental to our business. There are currently no such pending proceedings to which we are a party that our management believes will have a material adverse effect on our results of operations, cash flows or financial condition. However, future events or circumstances, currently unknown to management, will determine whether the resolution of any litigation or claims will ultimately have a material effect on our results of operations, cash flows or financial condition in any future reporting periods. At September 30, 2013 and December 31, 2012, we had $0.4 million and less than $0.1 million accrued for our legal proceedings. | |
Regulatory Compliance | |
In the ordinary course of our business, we are subject to various laws and regulations. In the opinion of our management, compliance with current laws and regulations will not have a material effect on our results of operations, cash flows or financial condition. | |
Environmental Compliance | |
Our operations are subject to stringent and complex laws and regulations pertaining to health, safety, and the environment. We are subject to laws and regulations at the federal, state and local levels that relate to air and water quality, hazardous and solid waste management and disposal and other environmental matters. The cost of planning, designing, constructing and operating our facilities must incorporate compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures. At September 30, 2013 and December 31, 2012, we had accrued approximately $0.3 million and $0.2 million for environmental matters, which are based on our undiscounted estimate of amounts we will spend on environmental compliance and remediation. We estimate that our potential liability for reasonably possible outcomes related to our environmental exposures could range from approximately $0.3 million to $0.5 million. | |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
10. INCOME TAXES | |
No provision for federal or state income taxes is included in our results of operations as such income is taxable directly to the partners. Accordingly, each partner is responsible for its share of federal and state income tax. Net earnings for financial statement purposes may differ significantly from taxable income reportable to each partner as a result of differences between the tax basis and financial reporting basis of assets and liabilities. | |
We are responsible for our portion of the Texas Margin tax that is included in Crestwood Holdings' consolidated Texas franchise tax return. Our current tax liability will be assessed based on 0.7% of the gross revenue apportioned to Texas. The margin tax qualifies as an income tax under GAAP, which requires us to recognize the impact of this tax on the temporary differences between the financial statement assets and liabilities and their tax basis attributable to such tax. See our Form 8-K filed with the SEC on May 10, 2013 for more information about our income taxes. | |
Equity_Plan
Equity Plan | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Equity Plan [Abstract] | ' | ||||||||
Equity Plan | ' | ||||||||
11. EQUITY PLAN | |||||||||
In conjunction with the Merger discussed in Note 1. Business and Description of Business, we terminated our Fourth Amended and Restated 2007 Equity Plan (2007 Equity Plan). All of our unvested phantom and restricted units became vested upon consummation of the Merger and all unamortized compensation expense related to those units was recognized on that date. The following table summarizes information regarding phantom and restricted unit activity during the nine months ended September 30, 2013: | |||||||||
Payable In Cash | Payable In Units | ||||||||
Weighted- | Weighted- | ||||||||
Average Grant | Average Grant | ||||||||
Date Fair | Date Fair | ||||||||
Units | Value | Units | Value | ||||||
Unvested—January 1, 2013 | 8,312 | $ | 26.45 | 221,992 | $ | 28.35 | |||
Vested—phantom units | (3,013 | ) | $ | 27.22 | (71,006 | ) | $ | 28.7 | |
Vested—restricted units | — | — | (11,349 | ) | $ | 26.4 | |||
Granted—phantom units | — | — | 161,807 | $ | 24.33 | ||||
Granted—restricted units | — | — | 27,900 | $ | 24.86 | ||||
Canceled—phantom units | (354 | ) | $ | 25.81 | (7,114 | ) | $ | 27.96 | |
Unvested—September 30, 2013 | 4,945 | $ | 26.02 | 322,230 | $ | 26.01 | |||
As of September 30, 2013 and December 31, 2012, we had total unamortized compensation expense of approximately $4 million and $3 million related to phantom and restricted units. As discussed above, the vesting period of our phantom and restricted units were accelerated upon consummation of the Merger. We recognized compensation expense of approximately $2.1 million and $1.5 million during the nine months ended September 30, 2013 and 2012, included in operating expenses on our consolidated statements of income. We granted phantom and restricted units with a grant date fair value of approximately $5 million during the nine months ended September 30, 2013. | |||||||||
Under the 2007 Equity Plan, participants who were granted restricted units could elect to have us withhold common units to satisfy minimum statutory tax withholding obligations arising in connection with the vesting of non-vested common units. Any such common units withheld were returned to the 2007 Equity Plan on the applicable vesting dates, which corresponded to the times at which income was recognized by the employee. When we withhold these common units, we were required to remit to the appropriate taxing authorities the fair value of the units withheld as of the vesting date. The number of units withheld was determined based on the closing price per common unit as reported on the NYSE on such dates. During the nine months ended September 30, 2013 and 2012, we withheld 3,341 common units and 414 common units to satisfy employee tax withholding obligations. | |||||||||
Transactions_With_Related_Part
Transactions With Related Parties | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Transactions With Related Parties [Abstract] | ' | ||||||||
Transactions With Related Parties | ' | ||||||||
12. TRANSACTIONS WITH RELATED PARTIES | |||||||||
We enter into transactions with our affiliates within the ordinary course of business. Concurrent with the Merger described in Note 1. Organization and Description of Business, Quicksilver Resources, Inc. is no longer a related party. For a further discussion of our related party transactions during the three and nine months ended September 30, 2013, see Note 5. Investment in Unconsolidated Affiliate. For a description of our affiliated transactions, see our 2012 Annual Report on Form 10-K. | |||||||||
Reimbursements from our affiliates were approximately $1 million and $2 million for the three and nine months ended September 30, 2013 and less than $1 million for the three and nine months ended September 30, 2012. The following table shows revenues and expenses from our affiliates for the three and nine months ended September 30, 2013 and 2012 (In millions): | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | 2013 | 2012 | ||||||
Operating revenues | $ | 24 | $ | 28 | $ | 74 | $ | 87 | |
Operating expenses | 13 | 5 | 39 | 15 | |||||
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Segment Information [Abstract] | ' | |||||||||||||||||
Segment Information | ' | |||||||||||||||||
13. SEGMENT INFORMATION | ||||||||||||||||||
We conduct our operations in the midstream sector with eight operating segments, four of which are reportable segments. These operating segments reflect the way we internally report the financial information used to make decisions and allocate resources in connection with our operations. We evaluate the performance of our operating segments based on EBITDA, which represents operating income plus depreciation, amortization and accretion expense and income tax expense. | ||||||||||||||||||
Our reportable segments reflect the primary geographic areas in which we operate and consist of Marcellus, Barnett, Fayetteville and Granite Wash, all of which are located within the United States. Our reportable segments are engaged in the gathering, processing, treating, compression, transportation and sales of natural gas and delivery of NGLs. Our Other operating segment consists of those operating segments or reporting units that did not meet quantitative reporting thresholds. In conjunction with the Merger described in Note 1, we revised our segments to reflect the new operations of the combined entities. | ||||||||||||||||||
For the nine months ended September 30, 2013 and 2012, one of our customers in the Barnett segment accounted for approximately 34% and 50% of our total revenues. In each of our Marcellus and Granite Wash segments, one customer accounted for approximately 21% and 10%, respectively, of our revenues for the nine months ended September 30, 2013. In addition, in our Fayetteville segment, one customer accounted for approximately 10% of our total revenues for the nine months ended September 30, 2012. | ||||||||||||||||||
The following table is a reconciliation of net income to EBITDA (In thousands): | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 30, | September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Net income | $ | 6,388 | $ | 14,381 | $ | 20,216 | $ | 30,984 | ||||||||||
Add: | ||||||||||||||||||
Interest and debt expense | 11,625 | 8,905 | 34,260 | 25,425 | ||||||||||||||
Income tax expense | 347 | 306 | 1,024 | 884 | ||||||||||||||
Depreciation, amortization and accretion expense | 14,557 | 11,568 | 49,618 | 35,909 | ||||||||||||||
EBITDA | $ | 32,917 | $ | 35,160 | $ | 105,118 | $ | 93,202 | ||||||||||
The following tables summarize the reportable segment data for the three and nine months ended September 30, 2013 and 2012 (In thousands): | ||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 15,914 | $ | 8,257 | $ | 7,799 | $ | 12,733 | $ | 2,288 | $ | — | $ | 46,991 | ||||
Operating revenues—related party | 74 | 23,624 | — | 449 | — | — | 24,147 | |||||||||||
Product purchases | — | 157 | 249 | 3,872 | 1,017 | — | 5,295 | |||||||||||
Product purchases—related party | — | — | — | 7,556 | — | — | 7,556 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 2,832 | 7,717 | 2,303 | 810 | 1,233 | — | 14,895 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 10,367 | 10,367 | |||||||||||
Goodwill impairment | — | — | — | — | (4,053 | ) | — | (4,053 | ) | |||||||||
Gain on sale of asset | — | — | — | 4,392 | — | — | 4,392 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | — | (447 | ) | — | (447 | ) | |||||||||
EBITDA | $ | 13,156 | $ | 24,007 | $ | 5,247 | $ | 5,336 | $ | (4,462 | ) | $ | (10,367 | ) | $ | 32,917 | ||
Goodwill | $ | 8,618 | $ | — | $ | 76,767 | $ | 14,211 | $ | — | $ | — | $ | 99,596 | ||||
Total assets | $ | 672,627 | $ | 604,569 | $ | 297,064 | $ | 77,719 | $ | 204,053 | $ | 27,951 | $ | 1,883,983 | ||||
Capital expenditures | $ | 71,124 | $ | 156 | $ | 4,106 | $ | 3,958 | $ | 4,794 | $ | 161 | $ | 84,299 | ||||
Three Months Ended September 30, 2012 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 7,976 | $ | 5,390 | $ | 7,174 | $ | 10,702 | $ | 3,815 | $ | — | $ | 35,057 | ||||
Operating revenues—related party | — | 27,956 | — | — | — | — | 27,956 | |||||||||||
Product purchases | — | 60 | 137 | 9,481 | 663 | — | 10,341 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 815 | 6,963 | 1,855 | 560 | 749 | — | 10,942 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 6,570 | 6,570 | |||||||||||
EBITDA | $ | 7,161 | $ | 26,323 | $ | 5,182 | $ | 661 | $ | 2,403 | $ | (6,570 | ) | $ | 35,160 | |||
Goodwill | $ | — | $ | — | $ | 76,767 | $ | 14,211 | $ | 4,053 | $ | — | $ | 95,031 | ||||
Total assets | $ | 396,634 | $ | 619,768 | $ | 304,669 | $ | 77,611 | $ | 83,701 | $ | 17,097 | $ | 1,499,480 | ||||
Capital expenditures | $ | 4,540 | $ | 4,719 | $ | 1,086 | $ | 448 | $ | 955 | $ | 225 | $ | 11,973 | ||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 45,497 | $ | 26,647 | $ | 21,383 | $ | 39,368 | $ | 7,441 | $ | — | $ | 140,336 | ||||
Operating revenues—related party | 162 | 72,856 | — | 1,299 | — | — | 74,317 | |||||||||||
Product purchases | — | 558 | 732 | 13,936 | 2,971 | — | 18,197 | |||||||||||
Product purchases—related party | — | — | — | 22,191 | — | — | 22,191 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 7,774 | 21,284 | 6,747 | 2,103 | 2,595 | — | 40,503 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 28,536 | 28,536 | |||||||||||
Goodwill impairment | — | — | — | — | (4,053 | ) | — | (4,053 | ) | |||||||||
Gain on sale of asset | — | — | — | 4,392 | — | — | 4,392 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | — | (447 | ) | — | (447 | ) | |||||||||
EBITDA | $ | 37,885 | $ | 77,661 | $ | 13,904 | $ | 6,829 | $ | (2,625 | ) | $ | (28,536 | ) | $ | 105,118 | ||
Goodwill | $ | 8,618 | $ | — | $ | 76,767 | $ | 14,211 | $ | — | $ | — | $ | 99,596 | ||||
Total assets | $ | 672,627 | $ | 604,569 | $ | 297,064 | $ | 77,719 | $ | 204,053 | $ | 27,951 | $ | 1,883,983 | ||||
Capital expenditures | $ | 135,845 | $ | 8,925 | $ | 6,818 | $ | 6,481 | $ | 5,954 | $ | 573 | $ | 164,596 | ||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 15,003 | $ | 12,053 | $ | 20,368 | $ | 28,021 | $ | 9,791 | $ | — | $ | 85,236 | ||||
Operating revenues—related party | — | 86,739 | — | — | — | — | 86,739 | |||||||||||
Product purchases | — | 60 | 343 | 24,514 | 1,838 | — | 26,755 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 1,328 | 18,438 | 6,399 | 1,619 | 2,269 | — | 30,053 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 21,965 | 21,965 | |||||||||||
EBITDA | $ | 13,675 | $ | 80,294 | $ | 13,626 | $ | 1,888 | $ | 5,684 | $ | (21,965 | ) | $ | 93,202 | |||
Goodwill | $ | — | $ | — | $ | 76,767 | $ | 14,211 | $ | 4,053 | $ | — | $ | 95,031 | ||||
Total assets | $ | 396,634 | $ | 619,768 | $ | 304,669 | $ | 77,611 | $ | 83,701 | $ | 17,097 | $ | 1,499,480 | ||||
Capital expenditures | $ | 5,378 | $ | 10,718 | $ | 10,040 | $ | 2,411 | $ | 5,140 | $ | 659 | $ | 34,346 | ||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Condensed Consolidating Financial Statements [Abstract] | ' | |||||||||||||||||
Condensed Consolidating Financial Statements | ' | |||||||||||||||||
14. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | ||||||||||||||||||
In conjunction with the Merger discussed in Note 1. Organization and Description of Business, CMLP entered into a supplemental indenture governing the 7.75% Senior Notes. Pursuant to the supplemental indenture, Crestwood Midstream Partners LP (formerly NRGM) and Crestwood Midstream Finance Corp (formerly NRGM Finance Corp.), which we refer to together as the Successor Issuers, have unconditionally assumed all of the obligations under the 7.75% Senior Notes due April 2019. In addition, certain subsidiaries have entered into financial guarantees pursuant to which they unconditionally guarantee the obligations under the indenture and Senior Notes. Prior to the Merger, the CMLP Credit Facility and our Senior Notes were fully and unconditionally guaranteed, jointly and severally, by CMLP's present and future direct and indirect 100% owned subsidiaries (the Guarantor Subsidiaries), except for Crestwood Niobrara and CMM and its consolidated subsidiaries (the Non-Guarantor Subsidiaries). CMLP (Issuer) issued the Senior Notes together with Crestwood Midstream Finance Corporation (Co-Issuer). The Co-Issuer is our 100% owned subsidiary and has no material assets, operations, revenues or cash flows other than those that were related to its service as co-issuer of our Senior Notes. Accordingly, it had no ability to service obligations on our debt securities. | ||||||||||||||||||
The following reflects condensed consolidating financial information of the Issuer, Co-Issuer, Guarantor Subsidiaries, Non-Guarantor Subsidiaries, eliminating entries to combine the entities and our consolidated results as of September 30, 2013 and December 31, 2012 and for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 55,457 | $ | 15,681 | $ | — | $ | 71,138 | ||||||
Operating expenses | 245 | — | 46,077 | 6,348 | — | 52,670 | ||||||||||||
Goodwill impairment | — | — | (4,053 | ) | — | — | (4,053 | ) | ||||||||||
Gain on sale of asset | — | — | 4,392 | — | — | 4,392 | ||||||||||||
Operating income (loss) | (245 | ) | — | 9,719 | 9,333 | — | 18,807 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | (447 | ) | — | (447 | ) | ||||||||||
Interest and debt expense | (10,518 | ) | — | 42 | (1,149 | ) | — | (11,625 | ) | |||||||||
Income (loss) before income tax | (10,763 | ) | — | 9,761 | 7,737 | — | 6,735 | |||||||||||
Income tax expense | — | — | 347 | — | — | 347 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (10,763 | ) | — | 9,414 | 7,737 | — | 6,388 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 17,151 | — | — | — | (17,151 | ) | — | |||||||||||
Net income (loss) | 6,388 | — | 9,414 | 7,737 | (17,151 | ) | 6,388 | |||||||||||
Net income attributable to noncontrolling | ||||||||||||||||||
interest | — | — | — | 1,923 | — | 1,923 | ||||||||||||
Net income (loss) attributable to | ||||||||||||||||||
Crestwood Midstream Partners LP | 6,388 | — | 9,414 | 5,814 | (17,151 | ) | 4,465 | |||||||||||
General partner's interest in net income | 81 | — | — | — | — | 81 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 6,307 | $ | — | $ | 9,414 | $ | 5,814 | $ | (17,151 | ) | $ | 4,384 | |||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 55,037 | $ | 7,976 | $ | — | $ | 63,013 | ||||||
Operating expenses | 179 | — | 37,009 | 2,233 | — | 39,421 | ||||||||||||
Operating income (loss) | (179 | ) | — | 18,028 | 5,743 | — | 23,592 | |||||||||||
Interest and debt expense | (8,147 | ) | — | (55 | ) | (703 | ) | — | (8,905 | ) | ||||||||
Income (loss) before income tax | (8,326 | ) | — | 17,973 | 5,040 | — | 14,687 | |||||||||||
Income tax expense | — | — | 306 | — | — | 306 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (8,326 | ) | — | 17,667 | 5,040 | — | 14,381 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 22,707 | — | — | — | (22,707 | ) | — | |||||||||||
Net income (loss) | 14,381 | — | 17,667 | 5,040 | (22,707 | ) | 14,381 | |||||||||||
General partner's interest in net income | 7,516 | — | — | — | — | 7,516 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 6,865 | $ | — | $ | 17,667 | $ | 5,040 | $ | (22,707 | ) | $ | 6,865 | |||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 169,389 | $ | 45,264 | $ | — | $ | 214,653 | ||||||
Operating expenses | 640 | — | 135,891 | 22,514 | — | 159,045 | ||||||||||||
Goodwill impairment | — | — | (4,053 | ) | — | — | (4,053 | ) | ||||||||||
Gain on sale of asset | — | — | 4,392 | — | — | 4,392 | ||||||||||||
Operating income (loss) | (640 | ) | — | 33,837 | 22,750 | — | 55,947 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | (447 | ) | — | (447 | ) | ||||||||||
Interest and debt expense | (30,731 | ) | — | (91 | ) | (3,438 | ) | — | (34,260 | ) | ||||||||
Income (loss) before income tax | (31,371 | ) | — | 33,746 | 18,865 | — | 21,240 | |||||||||||
Income tax expense | — | — | 1,024 | — | — | 1,024 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (31,371 | ) | — | 32,722 | 18,865 | — | 20,216 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 51,587 | — | — | — | (51,587 | ) | — | |||||||||||
Net income (loss) | 20,216 | — | 32,722 | 18,865 | (51,587 | ) | 20,216 | |||||||||||
Net income attributable to noncontrolling | ||||||||||||||||||
interest | — | — | — | 1,923 | — | 1,923 | ||||||||||||
Net income (loss) attributable to | ||||||||||||||||||
Crestwood Midstream Partners LP | 20,216 | — | 32,722 | 16,942 | (51,587 | ) | 18,293 | |||||||||||
General partner's interest in net income | 10,474 | — | — | — | — | 10,474 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 9,742 | $ | — | $ | 32,722 | $ | 16,942 | $ | (51,587 | ) | $ | 7,819 | |||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 156,972 | $ | 15,003 | $ | — | $ | 171,975 | ||||||
Operating expenses | 397 | — | 106,961 | 7,324 | — | 114,682 | ||||||||||||
Operating income (loss) | (397 | ) | — | 50,011 | 7,679 | — | 57,293 | |||||||||||
Interest and debt expense | (23,896 | ) | — | (149 | ) | (1,380 | ) | — | (25,425 | ) | ||||||||
Income (loss) before income tax | (24,293 | ) | — | 49,862 | 6,299 | — | 31,868 | |||||||||||
Income tax expense | — | — | 884 | — | — | 884 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (24,293 | ) | — | 48,978 | 6,299 | — | 30,984 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 55,277 | — | — | — | (55,277 | ) | — | |||||||||||
Net income (loss) | 30,984 | — | 48,978 | 6,299 | (55,277 | ) | 30,984 | |||||||||||
General partner's interest in net income | 15,038 | — | — | — | — | 15,038 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 15,946 | $ | — | $ | 48,978 | $ | 6,299 | $ | (55,277 | ) | $ | 15,946 | |||||
As of September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
ASSETS | ||||||||||||||||||
Current assets | ||||||||||||||||||
Cash and cash equivalents | $ | 4,506 | $ | — | $ | — | $ | 1,162 | $ | — | $ | 5,668 | ||||||
Accounts receivable | 1,626 | — | 15,024 | 11,016 | — | 27,666 | ||||||||||||
Accounts receivable—related | ||||||||||||||||||
party | 399,755 | 1 | 23,783 | 12 | (399,501 | ) | 24,050 | |||||||||||
Insurance receivable | — | — | 3,072 | — | — | 3,072 | ||||||||||||
Prepaid expenses and other | 174 | — | 595 | 22 | — | 791 | ||||||||||||
Total current assets | 406,061 | 1 | 42,474 | 12,212 | (399,501 | ) | 61,247 | |||||||||||
Investment in unconsolidated | ||||||||||||||||||
affiliate | — | — | — | 127,651 | — | 127,651 | ||||||||||||
Investment in consolidated | ||||||||||||||||||
affiliates | 1,186,766 | — | — | — | (1,186,766 | ) | — | |||||||||||
Property, plant and equipment—net | 3,069 | — | 861,728 | 280,075 | — | 1,144,872 | ||||||||||||
Intangible assets—net | — | — | 112,178 | 316,702 | — | 428,880 | ||||||||||||
Goodwill | — | — | 90,978 | 8,618 | — | 99,596 | ||||||||||||
Deferred financing costs, net | 16,290 | — | — | 4,429 | — | 20,719 | ||||||||||||
Other assets | 25 | — | 993 | — | — | 1,018 | ||||||||||||
Total assets | $ | 1,612,211 | $ | 1 | $ | 1,108,351 | $ | 749,687 | $ | (1,586,267 | ) | $ | 1,883,983 | |||||
LIABILITIES AND PARTNERS' | ||||||||||||||||||
CAPITAL/MEMBERS' EQUITY | ||||||||||||||||||
Current liabilities | ||||||||||||||||||
Accrued additions to property, | ||||||||||||||||||
plant and equipment | $ | — | $ | — | $ | 24,786 | $ | 16,462 | $ | — | $ | 41,248 | ||||||
Capital leases | 389 | — | 2,556 | — | — | 2,945 | ||||||||||||
Deferred revenue | — | — | — | 2,426 | — | 2,426 | ||||||||||||
Accounts payable—related party | 1,887 | — | 401,460 | 671 | (399,501 | ) | 4,517 | |||||||||||
Accounts payable, accrued | ||||||||||||||||||
expenses and other | ||||||||||||||||||
liabilities | 25,229 | — | 9,180 | 6,626 | — | 41,035 | ||||||||||||
Total current liabilities | 27,505 | — | 437,982 | 26,185 | (399,501 | ) | 92,171 | |||||||||||
Long-term debt | 707,486 | — | — | 191,900 | — | 899,386 | ||||||||||||
Long-term capital leases | 679 | — | 573 | — | — | 1,252 | ||||||||||||
Asset retirement obligations | — | — | 13,759 | 874 | — | 14,633 | ||||||||||||
Partners'/members' equity | 876,541 | 1 | 656,037 | 530,728 | (1,186,766 | ) | 876,541 | |||||||||||
Total liabilities and | ||||||||||||||||||
partners' | ||||||||||||||||||
capital/members' | ||||||||||||||||||
equity | $ | 1,612,211 | $ | 1 | $ | 1,108,351 | $ | 749,687 | $ | (1,586,267 | ) | $ | 1,883,983 | |||||
As of December 31, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
ASSETS | ||||||||||||||||||
Current assets | ||||||||||||||||||
Cash and cash equivalents | $ | 21 | $ | — | $ | — | $ | 90 | $ | — | $ | 111 | ||||||
Accounts receivable | 608 | — | 14,515 | 6,513 | — | 21,636 | ||||||||||||
Accounts receivable—related | ||||||||||||||||||
party | 366,405 | 1 | 22,587 | — | (365,238 | ) | 23,755 | |||||||||||
Insurance receivable | — | — | 2,920 | — | — | 2,920 | ||||||||||||
Prepaid expenses and other | 584 | — | 1,357 | — | — | 1,941 | ||||||||||||
Total current assets | 367,618 | 1 | 41,379 | 6,603 | (365,238 | ) | 50,363 | |||||||||||
Investment in consolidated | ||||||||||||||||||
affiliates | 1,041,936 | — | — | — | (1,041,936 | ) | — | |||||||||||
Property, plant and equipment—net | 8,519 | — | 775,852 | 155,475 | — | 939,846 | ||||||||||||
Intangible assets—net | — | — | 163,021 | 338,359 | — | 501,380 | ||||||||||||
Goodwill | — | — | 95,031 | — | — | 95,031 | ||||||||||||
Deferred financing costs, net | 17,149 | — | — | 5,379 | — | 22,528 | ||||||||||||
Other assets | 20 | — | 1,301 | — | — | 1,321 | ||||||||||||
Total assets | $ | 1,435,242 | $ | 1 | $ | 1,076,584 | $ | 505,816 | $ | (1,407,174 | ) | $ | 1,610,469 | |||||
LIABILITIES AND PARTNERS' | ||||||||||||||||||
CAPITAL/MEMBERS' EQUITY | ||||||||||||||||||
Current liabilities | ||||||||||||||||||
Accrued additions to property, | ||||||||||||||||||
plant and equipment | $ | — | $ | — | $ | 3,829 | $ | 5,384 | $ | — | $ | 9,213 | ||||||
Capital leases | 429 | — | 3,433 | — | — | 3,862 | ||||||||||||
Deferred revenue | — | — | — | 2,634 | — | 2,634 | ||||||||||||
Accounts payable—related party | 536 | — | 367,682 | 108 | (365,238 | ) | 3,088 | |||||||||||
Accounts payable, accrued | ||||||||||||||||||
expenses and other | ||||||||||||||||||
liabilities | 15,547 | — | 11,876 | 2,294 | — | 29,717 | ||||||||||||
Total current liabilities | 16,512 | — | 386,820 | 10,420 | (365,238 | ) | 48,514 | |||||||||||
Long-term debt | 558,161 | — | — | 127,000 | — | 685,161 | ||||||||||||
Long-term capital leases | 960 | — | 2,201 | — | — | 3,161 | ||||||||||||
Asset retirement obligations | — | — | 13,188 | 836 | — | 14,024 | ||||||||||||
Partners'/members' equity | 859,609 | 1 | 674,375 | 367,560 | (1,041,936 | ) | 859,609 | |||||||||||
Total liabilities and | ||||||||||||||||||
partners' | ||||||||||||||||||
capital/members' | ||||||||||||||||||
equity | $ | 1,435,242 | $ | 1 | $ | 1,076,584 | $ | 505,816 | $ | (1,407,174 | ) | $ | 1,610,469 | |||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Net cash provided by (used in) | ||||||||||||||||||
operating activities | $ | (18,629 | ) | $ | — | $ | 102,271 | $ | 31,506 | $ | (33,795 | ) | $ | 81,353 | ||||
Investing activities: | ||||||||||||||||||
Capital expenditures | (573 | ) | — | (52,464 | ) | (111,559 | ) | — | (164,596 | ) | ||||||||
Capital contribution to | ||||||||||||||||||
consolidated affiliate | (82,025 | ) | — | — | — | 82,025 | — | |||||||||||
Proceeds from sale of asset | — | — | 11,000 | — | — | 11,000 | ||||||||||||
Investment in unconsolidated | ||||||||||||||||||
affiliate | — | — | — | (128,098 | ) | — | (128,098 | ) | ||||||||||
Other | — | — | — | 20 | — | 20 | ||||||||||||
Change in advances to affiliates, | ||||||||||||||||||
net | 57,413 | — | — | — | (57,413 | ) | — | |||||||||||
Net cash provided by (used in) | ||||||||||||||||||
investing activities | (25,185 | ) | — | (41,464 | ) | (239,637 | ) | 24,612 | (281,674 | ) | ||||||||
Financing activities: | ||||||||||||||||||
Proceeds from credit facilities | 343,500 | — | — | 139,900 | — | 483,400 | ||||||||||||
Repayments of credit facilities | (194,000 | ) | — | — | (75,000 | ) | — | (269,000 | ) | |||||||||
Payments on capital leases | (321 | ) | — | (2,694 | ) | — | — | (3,015 | ) | |||||||||
Deferred financing costs paid | (85 | ) | — | — | — | — | (85 | ) | ||||||||||
Proceeds from issuance of | ||||||||||||||||||
common units, net | 118,562 | — | — | — | — | 118,562 | ||||||||||||
Proceeds from issuance of | ||||||||||||||||||
preferred equity of subsidiary | — | — | — | 96,073 | — | 96,073 | ||||||||||||
Contributions received | — | — | — | 82,025 | (82,025 | ) | — | |||||||||||
Distributions to General Partner | ||||||||||||||||||
for additional interest in CMM | (129,000 | ) | — | — | — | — | (129,000 | ) | ||||||||||
Distributions paid | (90,357 | ) | — | — | (33,795 | ) | 33,795 | (90,357 | ) | |||||||||
Change in advances from | ||||||||||||||||||
affiliates, net | — | — | (57,413 | ) | — | 57,413 | — | |||||||||||
Taxes paid for equity-based | ||||||||||||||||||
compensation vesting | — | — | (700 | ) | — | — | (700 | ) | ||||||||||
Net cash provided by (used in) | ||||||||||||||||||
financing activities | 48,299 | — | (60,807 | ) | 209,203 | 9,183 | 205,878 | |||||||||||
Change in cash and cash equivalents | 4,485 | — | — | 1,072 | — | 5,557 | ||||||||||||
Cash and cash equivalents at beginning | ||||||||||||||||||
of period | 21 | — | — | 90 | — | 111 | ||||||||||||
Cash and cash equivalents at end of | ||||||||||||||||||
period | $ | 4,506 | $ | — | $ | — | $ | 1,162 | $ | — | $ | 5,668 | ||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Net cash provided by (used in) | ||||||||||||||||||
operating activities | $ | (16,014 | ) | $ | — | $ | 86,153 | $ | 9,934 | $ | (2,205 | ) | $ | 77,868 | ||||
Investing activities: | ||||||||||||||||||
Acquisitions, net of cash | ||||||||||||||||||
acquired | — | — | (87,269 | ) | (381,718 | ) | — | (468,987 | ) | |||||||||
Capital expenditures | (659 | ) | — | (28,309 | ) | (5,378 | ) | — | (34,346 | ) | ||||||||
Acquisition of interests in | ||||||||||||||||||
CMM | (131,250 | ) | — | — | — | 131,250 | — | |||||||||||
Capital contribution to | ||||||||||||||||||
consolidated affiliate | 1,647 | — | — | — | (1,647 | ) | — | |||||||||||
Change in advances to affiliates, | ||||||||||||||||||
net | (31,730 | ) | — | — | — | 31,730 | — | |||||||||||
Net cash provided by (used in) | ||||||||||||||||||
investing activities | (161,992 | ) | — | (115,578 | ) | (387,096 | ) | 161,333 | (503,333 | ) | ||||||||
Financing activities: | ||||||||||||||||||
Proceeds from credit facilities | 350,200 | — | — | 27,500 | — | 377,700 | ||||||||||||
Repayments of credit facilities | (329,500 | ) | — | — | (8,000 | ) | — | (337,500 | ) | |||||||||
Payments on capital leases | (256 | ) | — | (1,899 | ) | — | — | (2,155 | ) | |||||||||
Deferred financing costs paid | (161 | ) | — | — | (6,328 | ) | — | (6,489 | ) | |||||||||
Proceeds from issuance of | ||||||||||||||||||
common units, net | 217,508 | — | — | — | — | 217,508 | ||||||||||||
Contributions received | 5,930 | — | — | 375,000 | (131,250 | ) | 249,680 | |||||||||||
Distributions paid | (66,500 | ) | — | — | (11,005 | ) | 3,852 | (73,653 | ) | |||||||||
Change in advances from affiliate, | ||||||||||||||||||
net | — | — | 31,730 | — | (31,730 | ) | — | |||||||||||
Taxes paid for equity-based | ||||||||||||||||||
compensation vesting | — | — | (406 | ) | — | — | (406 | ) | ||||||||||
Net cash provided by (used in) | ||||||||||||||||||
financing activities | 177,221 | — | 29,425 | 377,167 | (159,128 | ) | 424,685 | |||||||||||
Change in cash and cash equivalents | (785 | ) | — | — | 5 | — | (780 | ) | ||||||||||
Cash and cash equivalents at beginning | ||||||||||||||||||
of period | 797 | — | — | — | — | 797 | ||||||||||||
Cash and cash equivalents at end of | ||||||||||||||||||
period | $ | 12 | $ | — | $ | — | $ | 5 | $ | — | $ | 17 |
Subsequent_Events
Subsequent Events | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Subsequent Events [Abstract] | ' | ||||||||
Subsequent Event | ' | ||||||||
15. SUBSEQUENT EVENTS | |||||||||
As discussed in Note 1. Organization and Description of Business, on October 7, 2013, CMLP merged with and into NRGM with NRGM continuing as the surviving entity. The Merger was accounted for as a reverse acquisition of NRGM under the purchase method of accounting in accordance with the accounting standards related to business combinations. The accounting for a reverse merger results in the legal acquiree (CMLP) being the acquirer for accounting purposes. Therefore, CMLP will account for the merger as if CMLP acquired NRGM. For additional information related to the Merger, See Notes 7, 9, 11, 12 and 13. | |||||||||
The following table represents the pro forma consolidated statements of operations as if the reverse acquisition had been included in the consolidated results of CMLP on January 1, 2012 (In millions, except per unit data): | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | 2013 | 2012 | ||||||
Revenues | $ | 140 | $ | 114 | $ | 418 | $ | 318 | |
Net income (loss) | $ | 12 | $ | 24 | $ | 40 | $ | 63 | |
Net income (loss) per limited partner unit: | |||||||||
Basic | $ | 0.02 | $ | 0.15 | $ | 0.17 | $ | 0.4 | |
Diluted: | $ | 0.02 | $ | 0.15 | $ | 0.17 | $ | 0.4 | |
Basis_Of_Presentation_And_Summ1
Basis Of Presentation And Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2013 | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract] | ' |
Basis Of Presentation | ' |
Basis of Presentation | |
We prepared this Quarterly Report on Form 10-Q under the rules and regulations of the SEC and in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim consolidated financial statements. Accordingly, they do not include all of the disclosures required by GAAP. | |
On March 26, 2012, Crestwood Holdings contributed approximately $244 million for a 65% membership interest in Crestwood Marcellus Midstream LLC (CMM) and we contributed approximately $131 million for a 35% membership interest in CMM. On January 8, 2013, we acquired Crestwood Holdings' 65% membership interest in CMM and as a result, we now own 100% of CMM and have the ability to control the operating and financial decisions of CMM. We accounted for this transaction as a reorganization of entities under common control and the accounting standards related to such transactions require us to retroactively adjust our historical results. Accordingly, the consolidated balance sheets reflect the historical carrying value of CMM's assets and liabilities. Earnings related to the recast of our historical results due to the acquisition of the 65% membership interest in CMM were allocated to the General Partner. As a result, there was no impact to our 2012 reported basic or diluted earnings per limited partner unit. We funded the purchase price for the 65% membership interest in CMM of approximately $258 million through $129 million of borrowings under our CMLP credit facility, the issuance of 6,190,469 Class D units, representing limited partner interests in us to Crestwood Holdings, and the issuance of 133,060 general partner units to our General Partner. For accounting purposes, because of the consolidation of CMM, we reflected the $129 million cash paid to acquire the 65% interest in CMM and the issuance of Class D units as a reduction of our General Partner's capital. | |
You should read this Quarterly Report on Form 10-Q along with our Form 8-K filed with the SEC on May 10, 2013. The financial statements as of September 30, 2013 and for the three and nine months ended September 30, 2013 and 2012 are unaudited. The consolidated balance sheet as of December 31, 2012, was derived from the audited balance sheet filed in our Form 8-K filed with the SEC on May 10, 2013. In management's opinion, all necessary adjustments to fairly present our results of operations, financial position and cash flows for the periods presented have been made and all such adjustments are of a normal and recurring nature. Information for interim periods may not be indicative of our operating results for the entire year. Our disclosures in this Form 10-Q are an update to those provided in our Form 8-K filed with the SEC on May 10, 2013. | |
Revenues | ' |
Revenues | |
Our revenues are generated from the gathering, compression and processing of natural gas from producers predominately under fee-based contracts. Our gathering revenues relate to contracts pursuant to which we both transport and compress natural gas based on the volumes that flow through our systems and are not directly dependent on commodity prices. Compression revenues relate to contracts under which we solely provide compression services or contracts under which we charge a compression services fee that is separate from other services provided under our contracts. For the three and nine months ended September 30, 2013, our compression revenues were entirely comprised of services provided under contracts obtained in the E. Marcellus Asset Company, LLC (EMAC) acquisition (See Note 3). The majority of our processing revenues are generated from contracts under which we charge a fixed-fee. Under certain of our processing contracts, raw natural gas is gathered, processed and sold at published index prices. Producers are paid based on an agreed percentage of the residue gas and NGLs multiplied by index prices or the actual sale prices. | |
Goodwill | ' |
Goodwill | |
Our goodwill represents consideration paid in excess of the fair value of the identifiable assets acquired in a business combination. We have assigned our goodwill to four of our operating segments (Marcellus, Granite Wash, Fayetteville and Haynesville) which, based on management's judgment, we also consider reporting units for goodwill assessment purposes. | |
We evaluate goodwill for impairment, at a minimum, annually on December 31, or whenever events or changes indicate that it is more likely than not that the fair value of a reporting unit could be less than its carrying amount. This evaluation requires us to compare the fair value of each of the three reporting units above to its carrying value (including goodwill). If the fair value exceeds the carry amount, goodwill of the reporting unit is not considered impaired. | |
We estimate the fair value of our reporting units based on a number of factors, including the potential value we would receive if we sold the reporting unit, discount rates and projected cash flows. Projected cash flows of the reporting unit are generally based on current and anticipated future market conditions, which require significant judgment to make projections and assumptions about pricing, demand, competition, operating costs, legal and regulatory issues and other factors that may extend many years into the future and are often outside of our control. Due to the imprecise nature of these projections and assumptions, actual results can and often do, differ from our estimates. | |
During the three months ended September 30, 2013, we recorded an impairment of goodwill of approximately $4 million on our Haynesville/Bossier Shale system as a result of a decrease in anticipated revenues to be generated from those operations due primarily to our inability to renew and extend a significant revenue contract that expired in mid-2013. | |
Investment In Unconsolidated Affiliate | ' |
Investment in Unconsolidated Affiliate | |
We apply the equity method of accounting where we can exert significant influence over, but do not control or direct, the policies, decisions or activities of the entity. We use the cost method of accounting where we are unable to exert significant influence over the entity. The Financial Accounting Standards Board's accounting standards related to equity method investments and joint ventures requires entities to periodically review their equity method investments to determine whether current events or circumstances indicate that the carrying value of the equity method investment may be impaired. We evaluate our equity method investment for impairment when there are indicators of impairment. If indicators suggest impairment we will perform an impairment test to assess whether an adjustment is necessary. The impairment test considers whether the fair value of our equity method investment has declined and if any such decline is other than temporary. If a decline in fair value is determined to be other than temporary, the investment's carrying value is written down to fair value. | |
Acquisitions_And_Divestitures_
Acquisitions And Divestitures (Tables) | 9 Months Ended | ||
Sep. 30, 2013 | |||
Antero Acquisition [Member] | ' | ||
Schedule Of Purchase Price Allocation | ' | ||
Cash | $ | 381,718 | |
Total purchase price | $ | 381,718 | |
Purchase price allocation: | |||
Property, plant and equipment | $ | 90,562 | |
Intangible assets | 291,218 | ||
Total assets | $ | 381,780 | |
Asset retirement obligation | $ | 62 | |
Total liabilities | $ | 62 | |
Total | $ | 381,718 | |
EMAC Acquisition [Member] | ' | ||
Schedule Of Purchase Price Allocation | ' | ||
Cash | $ | 94,979 | |
Total purchase price | $ | 94,979 | |
Purchase price allocation: | |||
Property, plant and equipment | $ | 53,357 | |
Intangible assets | 33,909 | ||
Goodwill | 8,618 | ||
Total assets | $ | 95,884 | |
Asset retirement obligation | $ | 755 | |
Environmental liability | 150 | ||
Total liabilities | $ | 905 | |
Total | $ | 94,979 | |
Devon Acquisition [Member] | ' | ||
Schedule Of Purchase Price Allocation | ' | ||
Cash | $ | 87,943 | |
Total purchase price | $ | 87,943 | |
Purchase price allocation: | |||
Property, plant and equipment | $ | 88,626 | |
Total assets | $ | 88,626 | |
Asset retirement obligation | $ | 483 | |
Environmental liability | 200 | ||
Total liabilities | $ | 683 | |
Total | $ | 87,943 |
Earnings_Per_Limited_Partner_U1
Earnings Per Limited Partner Unit And Distributions (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Earnings Per Limited Partner Unit And Distributions [Abstract] | ' | |||||||||||||||||||
Allocation Of Net Income To General Partner And Limited Partners | ' | |||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Net income attributable to CMLP | $ | 4,465 | $ | 14,381 | $ | 18,293 | $ | 30,984 | ||||||||||||
General Partner's incentive distributions (1) | — | (4,101 | ) | (10,140 | ) | (10,636 | ) | |||||||||||||
Net income attributable to CMLP after incentive distributions | 4,465 | 10,280 | 8,153 | 20,348 | ||||||||||||||||
General Partner's interest in net income attributable to CMLP | ||||||||||||||||||||
after incentive distributions | (81 | ) | (3,415 | ) | (334 | ) | (4,402 | ) | ||||||||||||
Limited Partners' interest in net income attributable to CMLP | ||||||||||||||||||||
after distributions | $ | 4,384 | $ | 6,865 | $ | 7,819 | $ | 15,946 | ||||||||||||
(1) As a result of the Merger on October 7, 2013 described in Note 1. Organization and Description of Business, there were no distributions to CMLP's unitholders for the three months ended September 30, 2013; therefore, our General Partner did not receive any incentive distributions attributable to that period. | ||||||||||||||||||||
Schedule Of Reconciliation Of Earnings Per Share | ' | |||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Limited partners' interest in net income attributable to CMLP | $ | 4,384 | $ | 6,865 | ||||||||||||||||
Weighted-average limited partner units—basic (1) | 60,188 | 46,564 | ||||||||||||||||||
Effect of dilutive units | 260 | 203 | ||||||||||||||||||
Weighted-average limited partner units—diluted (1) | 60,448 | 46,767 | ||||||||||||||||||
Basic and diluted net income attributable to CMLP per limited | ||||||||||||||||||||
partner unit | $ | 0.07 | $ | 0.15 | ||||||||||||||||
(1) The three months ended September 30, 2013 includes 6,421,641 Class D units. The three months ended September 30, 2012 includes 6,929,763 Class C units. | ||||||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Limited partners' interest in net income attributable to CMLP | $ | 7,819 | $ | 15,946 | ||||||||||||||||
Weighted-average limited partner units—basic (1) | 58,339 | 44,206 | ||||||||||||||||||
Effect of dilutive units | 269 | 189 | ||||||||||||||||||
Weighted-average limited partner units—diluted (1) | 58,608 | 44,395 | ||||||||||||||||||
Basic and diluted net income attributable to CMLP per limited | ||||||||||||||||||||
partner unit | $ | 0.13 | $ | 0.36 | ||||||||||||||||
(1) The nine months ended September 30, 2013 includes 8,536,178 Class C and Class D units. The nine months ended September 30, 2012 includes 6,795,130 Class C units. | ||||||||||||||||||||
Schedule Of Distributions Made To Partners | ' | |||||||||||||||||||
Distributions Paid | ||||||||||||||||||||
Limited Partner | General Partner | |||||||||||||||||||
Paid-In-Kind | Paid-In-Kind | Cash paid | Paid-In-Kind | Paid-In-Kind | ||||||||||||||||
Value to | Value to | to General | Value to | Value to | ||||||||||||||||
Attributable to the Per Unit | Cash paid | Class C | Class D | Partner | Class C | Class D | Total | Total | ||||||||||||
Payment Date | Quarter Ended | Distribution | to common(1) | unitholders | unitholder | and IDR | unitholder | unitholder | Cash | Distribution | ||||||||||
2013 | ||||||||||||||||||||
August 9, | ||||||||||||||||||||
2013 | 30-Jun-13 | $ | 0.51 | $ | 27.4 | $ | — | $ | 3.2 | $ | 5.2 | $ | — | $ | 0.5 | $ | 32.6 | $ | 36.3 | |
May 10, | ||||||||||||||||||||
2013 | 31-Mar-13 | $ | 0.51 | $ | 27.4 | $ | — | $ | 3.2 | $ | 5.2 | $ | — | $ | 0.5 | $ | 32.6 | $ | 36.3 | |
February 12, | ||||||||||||||||||||
2013 | 31-Dec-12 | $ | 0.51 | $ | 21 | $ | 3.7 | $ | — | $ | 4.1 | $ | 0.6 | $ | — | $ | 25.1 | $ | 29.4 | |
2012 | ||||||||||||||||||||
November 9, | ||||||||||||||||||||
2012 | 30-Sep-12 | $ | 0.51 | $ | 21 | $ | 3.5 | $ | — | $ | 4.1 | $ | 0.6 | $ | — | $ | 25.1 | $ | 29.2 | |
August 10, | ||||||||||||||||||||
2012 | 30-Jun-12 | $ | 0.5 | $ | 20.6 | $ | 3.4 | $ | — | $ | 3.7 | $ | 0.5 | $ | — | $ | 24.3 | $ | 28.2 | |
May 11, | ||||||||||||||||||||
2012 | 31-Mar-12 | $ | 0.5 | $ | 18.2 | $ | 3.4 | $ | — | $ | 3.3 | $ | 0.5 | $ | — | $ | 21.5 | $ | 25.4 | |
February 10, | ||||||||||||||||||||
2012 | 31-Dec-11 | $ | 0.49 | $ | 17.9 | $ | 3.2 | $ | — | $ | 2.8 | $ | 0.5 | $ | — | $ | 20.7 | $ | 24.4 | |
(1) Distributions for the quarters ended June 30, 2012 and September 30, 2012 exclude approximately $3 million and $4 million paid by CMM to Crestwood Holdings. |
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Financial Instruments [Abstract] | ' | ||||||||
Schedule Of Carrying Values And Estimated Fair Values Of Senior Notes | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Carrying | Fair | Carrying | Fair | ||||||
Amount | Value | Amount | Value | ||||||
Senior Notes | $ | 351 | $ | 369 | $ | 351 | $ | 365 | |
Schedule Of Debt | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
CMM Credit Facility, due March 2017 | $ | 191,900 | $ | 127,000 | |||||
CMLP Credit Facility, due November 2017 | 356,200 | 206,700 | |||||||
Senior Notes, due April 2019 | 350,000 | 350,000 | |||||||
898,100 | 683,700 | ||||||||
Plus: Unamortized premium on Senior Notes | 1,286 | 1,461 | |||||||
Total long-term debt | $ | 899,386 | $ | 685,161 |
Accounts_Payable_Accrued_Expen1
Accounts Payable, Accrued Expenses And Other Liabilities (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Accounts Payable, Accrued Expenses And Other Liabilities [Abstract] | ' | ||||
Schedule Of Accounts Payable And Other Liabilities | ' | ||||
September 30, | December 31, | ||||
2013 | 2012 | ||||
Accrued expenses | $ | 11,305 | $ | 9,608 | |
Accrued property taxes | 5,843 | 5,638 | |||
Accrued product purchases payable | 1,818 | 2,450 | |||
Tax payable | 1,353 | 2,159 | |||
Interest payable | 14,054 | 7,505 | |||
Accounts payable | 6,653 | 2,278 | |||
Other | 9 | 79 | |||
Total accounts payable, accrued expenses and other liabilities | $ | 41,035 | $ | 29,717 |
Equity_Plan_Tables
Equity Plan (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Equity Plan [Abstract] | ' | ||||||||
Schedule Of Phantom And Restricted Unit Activity | ' | ||||||||
Payable In Cash | Payable In Units | ||||||||
Weighted- | Weighted- | ||||||||
Average Grant | Average Grant | ||||||||
Date Fair | Date Fair | ||||||||
Units | Value | Units | Value | ||||||
Unvested—January 1, 2013 | 8,312 | $ | 26.45 | 221,992 | $ | 28.35 | |||
Vested—phantom units | (3,013 | ) | $ | 27.22 | (71,006 | ) | $ | 28.7 | |
Vested—restricted units | — | — | (11,349 | ) | $ | 26.4 | |||
Granted—phantom units | — | — | 161,807 | $ | 24.33 | ||||
Granted—restricted units | — | — | 27,900 | $ | 24.86 | ||||
Canceled—phantom units | (354 | ) | $ | 25.81 | (7,114 | ) | $ | 27.96 | |
Unvested—September 30, 2013 | 4,945 | $ | 26.02 | 322,230 | $ | 26.01 |
Transactions_With_Related_Part1
Transactions With Related Parties (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Transactions With Related Parties [Abstract] | ' | ||||||||
Schedule Of Revenues, Expenses And Reimbursements From Affiliates | ' | ||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | 2013 | 2012 | ||||||
Operating revenues | $ | 24 | $ | 28 | $ | 74 | $ | 87 | |
Operating expenses | 13 | 5 | 39 | 15 |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Segment Information [Abstract] | ' | |||||||||||||||||
Reconciliation Of Net Income To EBITDA | ' | |||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 30, | September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Net income | $ | 6,388 | $ | 14,381 | $ | 20,216 | $ | 30,984 | ||||||||||
Add: | ||||||||||||||||||
Interest and debt expense | 11,625 | 8,905 | 34,260 | 25,425 | ||||||||||||||
Income tax expense | 347 | 306 | 1,024 | 884 | ||||||||||||||
Depreciation, amortization and accretion expense | 14,557 | 11,568 | 49,618 | 35,909 | ||||||||||||||
EBITDA | $ | 32,917 | $ | 35,160 | $ | 105,118 | $ | 93,202 | ||||||||||
Schedule Of Reportable Segment Data | ' | |||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 15,914 | $ | 8,257 | $ | 7,799 | $ | 12,733 | $ | 2,288 | $ | — | $ | 46,991 | ||||
Operating revenues—related party | 74 | 23,624 | — | 449 | — | — | 24,147 | |||||||||||
Product purchases | — | 157 | 249 | 3,872 | 1,017 | — | 5,295 | |||||||||||
Product purchases—related party | — | — | — | 7,556 | — | — | 7,556 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 2,832 | 7,717 | 2,303 | 810 | 1,233 | — | 14,895 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 10,367 | 10,367 | |||||||||||
Goodwill impairment | — | — | — | — | (4,053 | ) | — | (4,053 | ) | |||||||||
Gain on sale of asset | — | — | — | 4,392 | — | — | 4,392 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | — | (447 | ) | — | (447 | ) | |||||||||
EBITDA | $ | 13,156 | $ | 24,007 | $ | 5,247 | $ | 5,336 | $ | (4,462 | ) | $ | (10,367 | ) | $ | 32,917 | ||
Goodwill | $ | 8,618 | $ | — | $ | 76,767 | $ | 14,211 | $ | — | $ | — | $ | 99,596 | ||||
Total assets | $ | 672,627 | $ | 604,569 | $ | 297,064 | $ | 77,719 | $ | 204,053 | $ | 27,951 | $ | 1,883,983 | ||||
Capital expenditures | $ | 71,124 | $ | 156 | $ | 4,106 | $ | 3,958 | $ | 4,794 | $ | 161 | $ | 84,299 | ||||
Three Months Ended September 30, 2012 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 7,976 | $ | 5,390 | $ | 7,174 | $ | 10,702 | $ | 3,815 | $ | — | $ | 35,057 | ||||
Operating revenues—related party | — | 27,956 | — | — | — | — | 27,956 | |||||||||||
Product purchases | — | 60 | 137 | 9,481 | 663 | — | 10,341 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 815 | 6,963 | 1,855 | 560 | 749 | — | 10,942 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 6,570 | 6,570 | |||||||||||
EBITDA | $ | 7,161 | $ | 26,323 | $ | 5,182 | $ | 661 | $ | 2,403 | $ | (6,570 | ) | $ | 35,160 | |||
Goodwill | $ | — | $ | — | $ | 76,767 | $ | 14,211 | $ | 4,053 | $ | — | $ | 95,031 | ||||
Total assets | $ | 396,634 | $ | 619,768 | $ | 304,669 | $ | 77,611 | $ | 83,701 | $ | 17,097 | $ | 1,499,480 | ||||
Capital expenditures | $ | 4,540 | $ | 4,719 | $ | 1,086 | $ | 448 | $ | 955 | $ | 225 | $ | 11,973 | ||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 45,497 | $ | 26,647 | $ | 21,383 | $ | 39,368 | $ | 7,441 | $ | — | $ | 140,336 | ||||
Operating revenues—related party | 162 | 72,856 | — | 1,299 | — | — | 74,317 | |||||||||||
Product purchases | — | 558 | 732 | 13,936 | 2,971 | — | 18,197 | |||||||||||
Product purchases—related party | — | — | — | 22,191 | — | — | 22,191 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 7,774 | 21,284 | 6,747 | 2,103 | 2,595 | — | 40,503 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 28,536 | 28,536 | |||||||||||
Goodwill impairment | — | — | — | — | (4,053 | ) | — | (4,053 | ) | |||||||||
Gain on sale of asset | — | — | — | 4,392 | — | — | 4,392 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | — | (447 | ) | — | (447 | ) | |||||||||
EBITDA | $ | 37,885 | $ | 77,661 | $ | 13,904 | $ | 6,829 | $ | (2,625 | ) | $ | (28,536 | ) | $ | 105,118 | ||
Goodwill | $ | 8,618 | $ | — | $ | 76,767 | $ | 14,211 | $ | — | $ | — | $ | 99,596 | ||||
Total assets | $ | 672,627 | $ | 604,569 | $ | 297,064 | $ | 77,719 | $ | 204,053 | $ | 27,951 | $ | 1,883,983 | ||||
Capital expenditures | $ | 135,845 | $ | 8,925 | $ | 6,818 | $ | 6,481 | $ | 5,954 | $ | 573 | $ | 164,596 | ||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||
Granite | ||||||||||||||||||
Marcellus | Barnett | Fayetteville | Wash | Other | Corporate | Total | ||||||||||||
Operating revenues | $ | 15,003 | $ | 12,053 | $ | 20,368 | $ | 28,021 | $ | 9,791 | $ | — | $ | 85,236 | ||||
Operating revenues—related party | — | 86,739 | — | — | — | — | 86,739 | |||||||||||
Product purchases | — | 60 | 343 | 24,514 | 1,838 | — | 26,755 | |||||||||||
Operations and maintenance | ||||||||||||||||||
expense | 1,328 | 18,438 | 6,399 | 1,619 | 2,269 | — | 30,053 | |||||||||||
General and administrative | ||||||||||||||||||
expense | — | — | — | — | — | 21,965 | 21,965 | |||||||||||
EBITDA | $ | 13,675 | $ | 80,294 | $ | 13,626 | $ | 1,888 | $ | 5,684 | $ | (21,965 | ) | $ | 93,202 | |||
Goodwill | $ | — | $ | — | $ | 76,767 | $ | 14,211 | $ | 4,053 | $ | — | $ | 95,031 | ||||
Total assets | $ | 396,634 | $ | 619,768 | $ | 304,669 | $ | 77,611 | $ | 83,701 | $ | 17,097 | $ | 1,499,480 | ||||
Capital expenditures | $ | 5,378 | $ | 10,718 | $ | 10,040 | $ | 2,411 | $ | 5,140 | $ | 659 | $ | 34,346 | ||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Condensed Consolidating Financial Statements [Abstract] | ' | |||||||||||||||||
Schedule Of Condensed Consolidated Statements Of Income | ' | |||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 55,457 | $ | 15,681 | $ | — | $ | 71,138 | ||||||
Operating expenses | 245 | — | 46,077 | 6,348 | — | 52,670 | ||||||||||||
Goodwill impairment | — | — | (4,053 | ) | — | — | (4,053 | ) | ||||||||||
Gain on sale of asset | — | — | 4,392 | — | — | 4,392 | ||||||||||||
Operating income (loss) | (245 | ) | — | 9,719 | 9,333 | — | 18,807 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | (447 | ) | — | (447 | ) | ||||||||||
Interest and debt expense | (10,518 | ) | — | 42 | (1,149 | ) | — | (11,625 | ) | |||||||||
Income (loss) before income tax | (10,763 | ) | — | 9,761 | 7,737 | — | 6,735 | |||||||||||
Income tax expense | — | — | 347 | — | — | 347 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (10,763 | ) | — | 9,414 | 7,737 | — | 6,388 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 17,151 | — | — | — | (17,151 | ) | — | |||||||||||
Net income (loss) | 6,388 | — | 9,414 | 7,737 | (17,151 | ) | 6,388 | |||||||||||
Net income attributable to noncontrolling | ||||||||||||||||||
interest | — | — | — | 1,923 | — | 1,923 | ||||||||||||
Net income (loss) attributable to | ||||||||||||||||||
Crestwood Midstream Partners LP | 6,388 | — | 9,414 | 5,814 | (17,151 | ) | 4,465 | |||||||||||
General partner's interest in net income | 81 | — | — | — | — | 81 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 6,307 | $ | — | $ | 9,414 | $ | 5,814 | $ | (17,151 | ) | $ | 4,384 | |||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 55,037 | $ | 7,976 | $ | — | $ | 63,013 | ||||||
Operating expenses | 179 | — | 37,009 | 2,233 | — | 39,421 | ||||||||||||
Operating income (loss) | (179 | ) | — | 18,028 | 5,743 | — | 23,592 | |||||||||||
Interest and debt expense | (8,147 | ) | — | (55 | ) | (703 | ) | — | (8,905 | ) | ||||||||
Income (loss) before income tax | (8,326 | ) | — | 17,973 | 5,040 | — | 14,687 | |||||||||||
Income tax expense | — | — | 306 | — | — | 306 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (8,326 | ) | — | 17,667 | 5,040 | — | 14,381 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 22,707 | — | — | — | (22,707 | ) | — | |||||||||||
Net income (loss) | 14,381 | — | 17,667 | 5,040 | (22,707 | ) | 14,381 | |||||||||||
General partner's interest in net income | 7,516 | — | — | — | — | 7,516 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 6,865 | $ | — | $ | 17,667 | $ | 5,040 | $ | (22,707 | ) | $ | 6,865 | |||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 169,389 | $ | 45,264 | $ | — | $ | 214,653 | ||||||
Operating expenses | 640 | — | 135,891 | 22,514 | — | 159,045 | ||||||||||||
Goodwill impairment | — | — | (4,053 | ) | — | — | (4,053 | ) | ||||||||||
Gain on sale of asset | — | — | 4,392 | — | — | 4,392 | ||||||||||||
Operating income (loss) | (640 | ) | — | 33,837 | 22,750 | — | 55,947 | |||||||||||
Loss from unconsolidated affiliate | — | — | — | (447 | ) | — | (447 | ) | ||||||||||
Interest and debt expense | (30,731 | ) | — | (91 | ) | (3,438 | ) | — | (34,260 | ) | ||||||||
Income (loss) before income tax | (31,371 | ) | — | 33,746 | 18,865 | — | 21,240 | |||||||||||
Income tax expense | — | — | 1,024 | — | — | 1,024 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (31,371 | ) | — | 32,722 | 18,865 | — | 20,216 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 51,587 | — | — | — | (51,587 | ) | — | |||||||||||
Net income (loss) | 20,216 | — | 32,722 | 18,865 | (51,587 | ) | 20,216 | |||||||||||
Net income attributable to noncontrolling | ||||||||||||||||||
interest | — | — | — | 1,923 | — | 1,923 | ||||||||||||
Net income (loss) attributable to | ||||||||||||||||||
Crestwood Midstream Partners LP | 20,216 | — | 32,722 | 16,942 | (51,587 | ) | 18,293 | |||||||||||
General partner's interest in net income | 10,474 | — | — | — | — | 10,474 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 9,742 | $ | — | $ | 32,722 | $ | 16,942 | $ | (51,587 | ) | $ | 7,819 | |||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Operating revenues | $ | — | $ | — | $ | 156,972 | $ | 15,003 | $ | — | $ | 171,975 | ||||||
Operating expenses | 397 | — | 106,961 | 7,324 | — | 114,682 | ||||||||||||
Operating income (loss) | (397 | ) | — | 50,011 | 7,679 | — | 57,293 | |||||||||||
Interest and debt expense | (23,896 | ) | — | (149 | ) | (1,380 | ) | — | (25,425 | ) | ||||||||
Income (loss) before income tax | (24,293 | ) | — | 49,862 | 6,299 | — | 31,868 | |||||||||||
Income tax expense | — | — | 884 | — | — | 884 | ||||||||||||
Income (loss) before earnings from | ||||||||||||||||||
consolidated subsidiaries | (24,293 | ) | — | 48,978 | 6,299 | — | 30,984 | |||||||||||
Earnings (loss) from consolidated | ||||||||||||||||||
subsidiaries | 55,277 | — | — | — | (55,277 | ) | — | |||||||||||
Net income (loss) | 30,984 | — | 48,978 | 6,299 | (55,277 | ) | 30,984 | |||||||||||
General partner's interest in net income | 15,038 | — | — | — | — | 15,038 | ||||||||||||
Limited partner's interest in net income | ||||||||||||||||||
(loss) | $ | 15,946 | $ | — | $ | 48,978 | $ | 6,299 | $ | (55,277 | ) | $ | 15,946 | |||||
Schedule Of Condensed Consolidated Balance Sheet | ' | |||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
ASSETS | ||||||||||||||||||
Current assets | ||||||||||||||||||
Cash and cash equivalents | $ | 4,506 | $ | — | $ | — | $ | 1,162 | $ | — | $ | 5,668 | ||||||
Accounts receivable | 1,626 | — | 15,024 | 11,016 | — | 27,666 | ||||||||||||
Accounts receivable—related | ||||||||||||||||||
party | 399,755 | 1 | 23,783 | 12 | (399,501 | ) | 24,050 | |||||||||||
Insurance receivable | — | — | 3,072 | — | — | 3,072 | ||||||||||||
Prepaid expenses and other | 174 | — | 595 | 22 | — | 791 | ||||||||||||
Total current assets | 406,061 | 1 | 42,474 | 12,212 | (399,501 | ) | 61,247 | |||||||||||
Investment in unconsolidated | ||||||||||||||||||
affiliate | — | — | — | 127,651 | — | 127,651 | ||||||||||||
Investment in consolidated | ||||||||||||||||||
affiliates | 1,186,766 | — | — | — | (1,186,766 | ) | — | |||||||||||
Property, plant and equipment—net | 3,069 | — | 861,728 | 280,075 | — | 1,144,872 | ||||||||||||
Intangible assets—net | — | — | 112,178 | 316,702 | — | 428,880 | ||||||||||||
Goodwill | — | — | 90,978 | 8,618 | — | 99,596 | ||||||||||||
Deferred financing costs, net | 16,290 | — | — | 4,429 | — | 20,719 | ||||||||||||
Other assets | 25 | — | 993 | — | — | 1,018 | ||||||||||||
Total assets | $ | 1,612,211 | $ | 1 | $ | 1,108,351 | $ | 749,687 | $ | (1,586,267 | ) | $ | 1,883,983 | |||||
LIABILITIES AND PARTNERS' | ||||||||||||||||||
CAPITAL/MEMBERS' EQUITY | ||||||||||||||||||
Current liabilities | ||||||||||||||||||
Accrued additions to property, | ||||||||||||||||||
plant and equipment | $ | — | $ | — | $ | 24,786 | $ | 16,462 | $ | — | $ | 41,248 | ||||||
Capital leases | 389 | — | 2,556 | — | — | 2,945 | ||||||||||||
Deferred revenue | — | — | — | 2,426 | — | 2,426 | ||||||||||||
Accounts payable—related party | 1,887 | — | 401,460 | 671 | (399,501 | ) | 4,517 | |||||||||||
Accounts payable, accrued | ||||||||||||||||||
expenses and other | ||||||||||||||||||
liabilities | 25,229 | — | 9,180 | 6,626 | — | 41,035 | ||||||||||||
Total current liabilities | 27,505 | — | 437,982 | 26,185 | (399,501 | ) | 92,171 | |||||||||||
Long-term debt | 707,486 | — | — | 191,900 | — | 899,386 | ||||||||||||
Long-term capital leases | 679 | — | 573 | — | — | 1,252 | ||||||||||||
Asset retirement obligations | — | — | 13,759 | 874 | — | 14,633 | ||||||||||||
Partners'/members' equity | 876,541 | 1 | 656,037 | 530,728 | (1,186,766 | ) | 876,541 | |||||||||||
Total liabilities and | ||||||||||||||||||
partners' | ||||||||||||||||||
capital/members' | ||||||||||||||||||
equity | $ | 1,612,211 | $ | 1 | $ | 1,108,351 | $ | 749,687 | $ | (1,586,267 | ) | $ | 1,883,983 | |||||
As of December 31, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
ASSETS | ||||||||||||||||||
Current assets | ||||||||||||||||||
Cash and cash equivalents | $ | 21 | $ | — | $ | — | $ | 90 | $ | — | $ | 111 | ||||||
Accounts receivable | 608 | — | 14,515 | 6,513 | — | 21,636 | ||||||||||||
Accounts receivable—related | ||||||||||||||||||
party | 366,405 | 1 | 22,587 | — | (365,238 | ) | 23,755 | |||||||||||
Insurance receivable | — | — | 2,920 | — | — | 2,920 | ||||||||||||
Prepaid expenses and other | 584 | — | 1,357 | — | — | 1,941 | ||||||||||||
Total current assets | 367,618 | 1 | 41,379 | 6,603 | (365,238 | ) | 50,363 | |||||||||||
Investment in consolidated | ||||||||||||||||||
affiliates | 1,041,936 | — | — | — | (1,041,936 | ) | — | |||||||||||
Property, plant and equipment—net | 8,519 | — | 775,852 | 155,475 | — | 939,846 | ||||||||||||
Intangible assets—net | — | — | 163,021 | 338,359 | — | 501,380 | ||||||||||||
Goodwill | — | — | 95,031 | — | — | 95,031 | ||||||||||||
Deferred financing costs, net | 17,149 | — | — | 5,379 | — | 22,528 | ||||||||||||
Other assets | 20 | — | 1,301 | — | — | 1,321 | ||||||||||||
Total assets | $ | 1,435,242 | $ | 1 | $ | 1,076,584 | $ | 505,816 | $ | (1,407,174 | ) | $ | 1,610,469 | |||||
LIABILITIES AND PARTNERS' | ||||||||||||||||||
CAPITAL/MEMBERS' EQUITY | ||||||||||||||||||
Current liabilities | ||||||||||||||||||
Accrued additions to property, | ||||||||||||||||||
plant and equipment | $ | — | $ | — | $ | 3,829 | $ | 5,384 | $ | — | $ | 9,213 | ||||||
Capital leases | 429 | — | 3,433 | — | — | 3,862 | ||||||||||||
Deferred revenue | — | — | — | 2,634 | — | 2,634 | ||||||||||||
Accounts payable—related party | 536 | — | 367,682 | 108 | (365,238 | ) | 3,088 | |||||||||||
Accounts payable, accrued | ||||||||||||||||||
expenses and other | ||||||||||||||||||
liabilities | 15,547 | — | 11,876 | 2,294 | — | 29,717 | ||||||||||||
Total current liabilities | 16,512 | — | 386,820 | 10,420 | (365,238 | ) | 48,514 | |||||||||||
Long-term debt | 558,161 | — | — | 127,000 | — | 685,161 | ||||||||||||
Long-term capital leases | 960 | — | 2,201 | — | — | 3,161 | ||||||||||||
Asset retirement obligations | — | — | 13,188 | 836 | — | 14,024 | ||||||||||||
Partners'/members' equity | 859,609 | 1 | 674,375 | 367,560 | (1,041,936 | ) | 859,609 | |||||||||||
Total liabilities and | ||||||||||||||||||
partners' | ||||||||||||||||||
capital/members' | ||||||||||||||||||
equity | $ | 1,435,242 | $ | 1 | $ | 1,076,584 | $ | 505,816 | $ | (1,407,174 | ) | $ | 1,610,469 | |||||
Schedule Of Condensed Consolidated Statement Of Cash Flows | ' | |||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Net cash provided by (used in) | ||||||||||||||||||
operating activities | $ | (18,629 | ) | $ | — | $ | 102,271 | $ | 31,506 | $ | (33,795 | ) | $ | 81,353 | ||||
Investing activities: | ||||||||||||||||||
Capital expenditures | (573 | ) | — | (52,464 | ) | (111,559 | ) | — | (164,596 | ) | ||||||||
Capital contribution to | ||||||||||||||||||
consolidated affiliate | (82,025 | ) | — | — | — | 82,025 | — | |||||||||||
Proceeds from sale of asset | — | — | 11,000 | — | — | 11,000 | ||||||||||||
Investment in unconsolidated | ||||||||||||||||||
affiliate | — | — | — | (128,098 | ) | — | (128,098 | ) | ||||||||||
Other | — | — | — | 20 | — | 20 | ||||||||||||
Change in advances to affiliates, | ||||||||||||||||||
net | 57,413 | — | — | — | (57,413 | ) | — | |||||||||||
Net cash provided by (used in) | ||||||||||||||||||
investing activities | (25,185 | ) | — | (41,464 | ) | (239,637 | ) | 24,612 | (281,674 | ) | ||||||||
Financing activities: | ||||||||||||||||||
Proceeds from credit facilities | 343,500 | — | — | 139,900 | — | 483,400 | ||||||||||||
Repayments of credit facilities | (194,000 | ) | — | — | (75,000 | ) | — | (269,000 | ) | |||||||||
Payments on capital leases | (321 | ) | — | (2,694 | ) | — | — | (3,015 | ) | |||||||||
Deferred financing costs paid | (85 | ) | — | — | — | — | (85 | ) | ||||||||||
Proceeds from issuance of | ||||||||||||||||||
common units, net | 118,562 | — | — | — | — | 118,562 | ||||||||||||
Proceeds from issuance of | ||||||||||||||||||
preferred equity of subsidiary | — | — | — | 96,073 | — | 96,073 | ||||||||||||
Contributions received | — | — | — | 82,025 | (82,025 | ) | — | |||||||||||
Distributions to General Partner | ||||||||||||||||||
for additional interest in CMM | (129,000 | ) | — | — | — | — | (129,000 | ) | ||||||||||
Distributions paid | (90,357 | ) | — | — | (33,795 | ) | 33,795 | (90,357 | ) | |||||||||
Change in advances from | ||||||||||||||||||
affiliates, net | — | — | (57,413 | ) | — | 57,413 | — | |||||||||||
Taxes paid for equity-based | ||||||||||||||||||
compensation vesting | — | — | (700 | ) | — | — | (700 | ) | ||||||||||
Net cash provided by (used in) | ||||||||||||||||||
financing activities | 48,299 | — | (60,807 | ) | 209,203 | 9,183 | 205,878 | |||||||||||
Change in cash and cash equivalents | 4,485 | — | — | 1,072 | — | 5,557 | ||||||||||||
Cash and cash equivalents at beginning | ||||||||||||||||||
of period | 21 | — | — | 90 | — | 111 | ||||||||||||
Cash and cash equivalents at end of | ||||||||||||||||||
period | $ | 4,506 | $ | — | $ | — | $ | 1,162 | $ | — | $ | 5,668 | ||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||
Guarantor | Non-Guarantor | |||||||||||||||||
Issuer | Co-Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | |||||||||||||
(In thousands) | ||||||||||||||||||
Net cash provided by (used in) | ||||||||||||||||||
operating activities | $ | (16,014 | ) | $ | — | $ | 86,153 | $ | 9,934 | $ | (2,205 | ) | $ | 77,868 | ||||
Investing activities: | ||||||||||||||||||
Acquisitions, net of cash | ||||||||||||||||||
acquired | — | — | (87,269 | ) | (381,718 | ) | — | (468,987 | ) | |||||||||
Capital expenditures | (659 | ) | — | (28,309 | ) | (5,378 | ) | — | (34,346 | ) | ||||||||
Acquisition of interests in | ||||||||||||||||||
CMM | (131,250 | ) | — | — | — | 131,250 | — | |||||||||||
Capital contribution to | ||||||||||||||||||
consolidated affiliate | 1,647 | — | — | — | (1,647 | ) | — | |||||||||||
Change in advances to affiliates, | ||||||||||||||||||
net | (31,730 | ) | — | — | — | 31,730 | — | |||||||||||
Net cash provided by (used in) | ||||||||||||||||||
investing activities | (161,992 | ) | — | (115,578 | ) | (387,096 | ) | 161,333 | (503,333 | ) | ||||||||
Financing activities: | ||||||||||||||||||
Proceeds from credit facilities | 350,200 | — | — | 27,500 | — | 377,700 | ||||||||||||
Repayments of credit facilities | (329,500 | ) | — | — | (8,000 | ) | — | (337,500 | ) | |||||||||
Payments on capital leases | (256 | ) | — | (1,899 | ) | — | — | (2,155 | ) | |||||||||
Deferred financing costs paid | (161 | ) | — | — | (6,328 | ) | — | (6,489 | ) | |||||||||
Proceeds from issuance of | ||||||||||||||||||
common units, net | 217,508 | — | — | — | — | 217,508 | ||||||||||||
Contributions received | 5,930 | — | — | 375,000 | (131,250 | ) | 249,680 | |||||||||||
Distributions paid | (66,500 | ) | — | — | (11,005 | ) | 3,852 | (73,653 | ) | |||||||||
Change in advances from affiliate, | ||||||||||||||||||
net | — | — | 31,730 | — | (31,730 | ) | — | |||||||||||
Taxes paid for equity-based | ||||||||||||||||||
compensation vesting | — | — | (406 | ) | — | — | (406 | ) | ||||||||||
Net cash provided by (used in) | ||||||||||||||||||
financing activities | 177,221 | — | 29,425 | 377,167 | (159,128 | ) | 424,685 | |||||||||||
Change in cash and cash equivalents | (785 | ) | — | — | 5 | — | (780 | ) | ||||||||||
Cash and cash equivalents at beginning | ||||||||||||||||||
of period | 797 | — | — | — | — | 797 | ||||||||||||
Cash and cash equivalents at end of | ||||||||||||||||||
period | $ | 12 | $ | — | $ | — | $ | 5 | $ | — | $ | 17 |
Subsequent_Event_Tables
Subsequent Event (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Subsequent Events [Abstract] | ' | ||||||||
Pro Forma Consolidated Statements Of Operations | ' | ||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | 2013 | 2012 | ||||||
Revenues | $ | 140 | $ | 114 | $ | 418 | $ | 318 | |
Net income (loss) | $ | 12 | $ | 24 | $ | 40 | $ | 63 | |
Net income (loss) per limited partner unit: | |||||||||
Basic | $ | 0.02 | $ | 0.15 | $ | 0.17 | $ | 0.4 | |
Diluted: | $ | 0.02 | $ | 0.15 | $ | 0.17 | $ | 0.4 |
Organization_And_Description_O1
Organization And Description Of Business (Narrative) (Details) (USD $) | 0 Months Ended |
In Millions, except Share data, unless otherwise specified | Oct. 07, 2013 |
Number of units issued for one unit held by unitholders | 1.07 |
Potential cash payment to unaffiliated unitholders at closing of the merger transaction | $35 |
Potential per share cash payment to unaffiliated unitholders at closing of the merger transaction | $1.03 |
Crestwood Holdings LLC [Member] | ' |
Potential cash payment to unaffiliated unitholders at closing of the merger transaction | 10 |
Inergy Midstream, L.P. [Member] | ' |
Potential cash payment to unaffiliated unitholders at closing of the merger transaction | $25 |
Basis_Of_Presentation_And_Summ2
Basis Of Presentation And Summary Of Significant Accounting Policies (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jul. 19, 2013 | Jan. 08, 2013 | Mar. 26, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
segment | |||||
Interests acquired | ' | 65.00% | 35.00% | ' | ' |
Payments for investment in unconsolidated affiliate | $108,000,000 | ' | $131,000,000 | $20,000,000 | $128,098,000 |
Payments for investment in consolidated affiliate | ' | 258,000,000 | ' | ' | ' |
Borrowings to acquire interest in subsidiaries | ' | 129,000,000 | ' | ' | ' |
Goodwill impairment | ' | ' | ' | 4,053,000 | 4,053,000 |
Reduction of our General Partner's capital to reflect cash paid | ' | 129,000,000 | ' | ' | 129,000,000 |
Subsidiary ownership percentage after transaction | ' | 100.00% | ' | ' | ' |
Reportable segments | ' | ' | ' | ' | 4 |
Crestwood Holdings LLC [Member] | ' | ' | ' | ' | ' |
Interests acquired | ' | ' | 65.00% | ' | ' |
Payments for investment in unconsolidated affiliate | ' | ' | $244,000,000 | ' | ' |
Acquisitions_And_Divestitures_1
Acquisitions And Divestitures (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 6 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 28, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |||
Antero Acquisition [Member] | Antero Acquisition [Member] | Devon Acquisition [Member] | EMAC Acquisition [Member] | EMAC Acquisition [Member] | Granite Wash [Member] | Granite Wash [Member] | Minimum [Member] | Maximum [Member] | CMM Credit Facility, Due March 2017 [Member] | |||||||||
mi | item | Antero Acquisition [Member] | Antero Acquisition [Member] | |||||||||||||||
acre | ||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business acquisition, cost of acquired entity, purchase price | ' | ' | ' | ' | ' | ' | ' | $381,718,000 | $87,943,000 | ' | $94,979,000 | ' | ' | ' | ' | ' | ||
Business acquisition, purchase price allocation, property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | 90,562,000 | 88,626,000 | ' | 53,357,000 | ' | ' | ' | ' | ' | ||
Business acquisition, reduction of depreciation, amortization and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | 1,000,000 | ' | ' | ' | ' | ' | ||
Business acquisition, purchase price allocation, goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,618,000 | ' | ' | ' | ' | ' | ||
Purchase price paid | ' | ' | ' | ' | ' | ' | ' | 381,718,000 | 87,943,000 | ' | 94,979,000 | ' | ' | ' | ' | ' | ||
Gas gathering and compression agreement term | ' | ' | ' | ' | ' | ' | ' | '20 years | '20 years | ' | ' | ' | ' | ' | ' | ' | ||
Area of dedication | ' | ' | ' | ' | ' | ' | ' | 127,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Area of dedication, net | ' | ' | ' | ' | ' | ' | ' | 104,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Minimum throughput volume delivery term | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ||
Guaranteed volume commitments over seven year period, MMcfd | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | 450 | ' | ||
Receivable and deferred revenue recorded under GGA | 2,426,000 | ' | 2,426,000 | ' | ' | 2,634,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Miles of Gathering Pipelines | ' | ' | ' | ' | ' | ' | ' | 33 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating revenue | 71,138,000 | 63,013,000 | [1] | 214,653,000 | 171,975,000 | [1] | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating expenses | 52,670,000 | 39,421,000 | [1] | 159,045,000 | 114,682,000 | [1] | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss) | 18,807,000 | 23,592,000 | [1] | 55,947,000 | 57,293,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ||
Number of compression and dehydration stations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ||
Compression services agreement expiration | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2018 | ' | ' | ' | ' | ' | ' | ||
Compression services agreement, optional extension term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ||
Proceeds from sale of business, net of fees | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Gain on sale of asset | $4,392,000 | ' | $4,392,000 | ' | ' | ' | ' | ' | ' | ' | ' | $4,392,000 | $4,392,000 | ' | ' | ' | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Acquisitions_And_Divestitures_2
Acquisitions And Divestitures (Schedule Of Purchase Price Allocation) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Antero Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash | $381,718 |
Total purchase price | 381,718 |
Property, plant and equipment | 90,562 |
Intangible assets | 291,218 |
Total assets | 381,780 |
Asset retirement obligation | 62 |
Total liabilities | 62 |
Total | 381,718 |
EMAC Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash | 94,979 |
Total purchase price | 94,979 |
Property, plant and equipment | 53,357 |
Intangible assets | 33,909 |
Goodwill | 8,618 |
Total assets | 95,884 |
Asset retirement obligation | 755 |
Environmental liability | 150 |
Total liabilities | 905 |
Total | 94,979 |
Devon Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash | 87,943 |
Total purchase price | 87,943 |
Property, plant and equipment | 88,626 |
Total assets | 88,626 |
Asset retirement obligation | 483 |
Environmental liability | 200 |
Total liabilities | 683 |
Total | $87,943 |
Earnings_Per_Limited_Partner_U2
Earnings Per Limited Partner Unit And Distributions (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
In Millions, except Share data, unless otherwise specified | Oct. 07, 2013 | Apr. 05, 2013 | Mar. 22, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 08, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Jan. 08, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 |
General Partner [Member] | Class C Unitholders [Member] | Class C Unitholders [Member] | Class C Unitholders [Member] | Class C Unitholders [Member] | Class D Unitholder [Member] | Class D Unitholder [Member] | Class D Unitholder [Member] | Class D Unitholder [Member] | ||||||||
Distribution period | ' | ' | ' | ' | ' | '45 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution weighted average common unit price period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' | '10 days |
Number of units issued for one unit held by unitholders | 1.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General partners, additional units issued | ' | ' | ' | ' | ' | ' | ' | 133,060 | 174,230 | 138,731 | 136,128 | ' | 6,190,469 | 141,422 | 151,238 | ' |
Units excluded from our dilutive earnings per share | ' | ' | ' | 3,262,275 | 0 | 1,099,375 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering of common units | ' | 675,000 | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering of common units, per share amount | ' | ' | $23.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering of common units, per share amount net of underwriting discount | ' | ' | $23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from public offering | ' | $15.50 | $103.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for which the underwriter had the option to purchase shares | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_Per_Limited_Partner_U3
Earnings Per Limited Partner Unit And Distributions (Allocation Of Net Income To General Partner And Limited Partners) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Earnings Per Limited Partner Unit And Distributions [Abstract] | ' | ' | ' | ' | ||||
Net income attributable to CMLP | $4,465 | $14,381 | [1] | $18,293 | $30,984 | [1] | ||
General Partner's incentive distributions | ' | [2] | -4,101 | [2] | -10,140 | [2] | -10,636 | [2] |
Net income attributable to CMLP after incentive distributions | 4,465 | 10,280 | 8,153 | 20,348 | ||||
General Partner's interest in net income attributable to CMLP after incentive distributions | -81 | -3,415 | -334 | -4,402 | ||||
Limited Partners' interest in net income attributable to CMLP after distributions | $4,384 | $6,865 | [1] | $7,819 | $15,946 | [1] | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. | |||||||
[2] | As a result of the Merger on October 7, 2013 described in Note 1. Organization and Description of Business, there were no distributions to CMLP's unitholders for the three months ended September 30, 2013; therefore, our General Partner did not receive any incentive distributions attributable to that period. |
Earnings_Per_Limited_Partner_U4
Earnings Per Limited Partner Unit And Distributions (Schedule Of Reconciliation Of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Limited partners' interest in net income attributable to Crestwood Midstream Partners LP | $4,384 | $6,865 | [1] | $7,819 | $15,946 | [1] | ||
Weighted-average limited partner units - basic | 60,188,000 | [2] | 46,564,000 | [2] | 58,339,000 | [3] | 44,206,000 | [3] |
Effect of unvested dilutive units | 260,000 | 203,000 | 269,000 | 189,000 | ||||
Weighted-average limited partner units - diluted | 60,448,000 | [2] | 46,767,000 | [2] | 58,608,000 | [3] | 44,395,000 | [3] |
Basic and diluted net income attributable to CMLP per limited partner unit | $0.07 | $0.15 | [1] | $0.13 | $0.36 | [1] | ||
Class D Unitholder [Member] | ' | ' | ' | ' | ||||
Weighted-average limited partner units - basic | 6,421,641 | ' | ' | ' | ||||
Common Class C And Class D [Member] | ' | ' | ' | ' | ||||
Weighted-average limited partner units - basic | ' | ' | 8,536,178 | ' | ||||
Class C Unitholders [Member] | ' | ' | ' | ' | ||||
Weighted-average limited partner units - basic | ' | 6,929,763 | ' | 6,795,130 | ||||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. | |||||||
[2] | The three months ended September 30, 2013 includes 6,421,641 Class D units. The three months ended September 30, 2012 includes 6,929,763 Class C units. | |||||||
[3] | The nine months ended September 30, 2013 includes 8,536,178 Class C and Class D units. The nine months ended September 30, 2012 includes 6,795,130 Class C units. |
Earnings_Per_Limited_Partner_U5
Earnings Per Limited Partner Unit And Distributions (Schedule Of Distributions Made To Partners) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash | ' | ' | $90,357,000 | $73,653,000 | [1] | |
Cash distributions excluded | 4,000,000 | 3,000,000 | ' | ' | ||
August 9, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 30-Jun-13 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.51 | ' | ||
Total Cash | ' | ' | 32,600,000 | ' | ||
Total Distribution | ' | ' | 36,300,000 | ' | ||
May 10, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 31-Mar-13 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.51 | ' | ||
Total Cash | ' | ' | 32,600,000 | ' | ||
Total Distribution | ' | ' | 36,300,000 | ' | ||
February 12, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 31-Dec-12 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.51 | ' | ||
Total Cash | ' | ' | 25,100,000 | ' | ||
Total Distribution | ' | ' | 29,400,000 | ' | ||
November 9, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 30-Sep-12 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.51 | ' | ||
Total Cash | ' | ' | 25,100,000 | ' | ||
Total Distribution | ' | ' | 29,200,000 | ' | ||
August 10, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 30-Jun-12 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.50 | ' | ||
Total Cash | ' | ' | 24,300,000 | ' | ||
Total Distribution | ' | ' | 28,200,000 | ' | ||
May11, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 31-Mar-12 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.50 | ' | ||
Total Cash | ' | ' | 21,500,000 | ' | ||
Total Distribution | ' | ' | 25,400,000 | ' | ||
February 10, 2012 [Member]. | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Attributable to the Quarter Ended | ' | ' | 31-Dec-11 | ' | ||
Per Unit Distribution, Paid | ' | ' | $0.49 | ' | ||
Total Cash | ' | ' | 20,700,000 | ' | ||
Total Distribution | ' | ' | 24,400,000 | ' | ||
Limited Partner [Member] | August 9, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 27,400,000 | [2] | ' | |
Limited Partner [Member] | May 10, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 27,400,000 | [2] | ' | |
Limited Partner [Member] | February 12, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 21,000,000 | [2] | ' | |
Limited Partner [Member] | November 9, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 21,000,000 | [2] | ' | |
Limited Partner [Member] | August 10, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 20,600,000 | [2] | ' | |
Limited Partner [Member] | May11, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 18,200,000 | [2] | ' | |
Limited Partner [Member] | February 10, 2012 [Member]. | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 17,900,000 | [2] | ' | |
General Partner [Member] | August 9, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 5,200,000 | ' | ||
General Partner [Member] | May 10, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 5,200,000 | ' | ||
General Partner [Member] | February 12, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 4,100,000 | ' | ||
General Partner [Member] | November 9, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 4,100,000 | ' | ||
General Partner [Member] | August 10, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 3,700,000 | ' | ||
General Partner [Member] | May11, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 3,300,000 | ' | ||
General Partner [Member] | February 10, 2012 [Member]. | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
Total Cash Distribution, Paid | ' | ' | 2,800,000 | ' | ||
Class C Unitholders [Member] | Limited Partner [Member] | February 12, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,700,000 | ' | ||
Class C Unitholders [Member] | Limited Partner [Member] | November 9, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,500,000 | ' | ||
Class C Unitholders [Member] | Limited Partner [Member] | August 10, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,400,000 | ' | ||
Class C Unitholders [Member] | Limited Partner [Member] | May11, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,400,000 | ' | ||
Class C Unitholders [Member] | Limited Partner [Member] | February 10, 2012 [Member]. | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,200,000 | ' | ||
Class C Unitholders [Member] | General Partner [Member] | February 12, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 600,000 | ' | ||
Class C Unitholders [Member] | General Partner [Member] | November 9, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 600,000 | ' | ||
Class C Unitholders [Member] | General Partner [Member] | August 10, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 500,000 | ' | ||
Class C Unitholders [Member] | General Partner [Member] | May11, 2012 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 500,000 | ' | ||
Class C Unitholders [Member] | General Partner [Member] | February 10, 2012 [Member]. | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 500,000 | ' | ||
Class D Unitholder [Member] | Limited Partner [Member] | August 9, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,200,000 | ' | ||
Class D Unitholder [Member] | Limited Partner [Member] | May 10, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 3,200,000 | ' | ||
Class D Unitholder [Member] | General Partner [Member] | August 9, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | 500,000 | ' | ||
Class D Unitholder [Member] | General Partner [Member] | May 10, 2013 [Member] | ' | ' | ' | ' | ||
Partners' Capital and Distributions [Line Items] | ' | ' | ' | ' | ||
PIK Value to unitholders | ' | ' | $500,000 | ' | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. | |||||
[2] | Distributions for the quarters ended June 30, 2012 and September 30, 2012 exclude approximately $3 million and $4 million paid by CMM to Crestwood Holdings. |
Investment_In_Unconsolidated_A1
Investment In Unconsolidated Affiliate (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||
Jul. 19, 2013 | Mar. 26, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Jackalope Gas Gathering Services, L.L.C. [Member] | Access Midstream Partners, L.P. [Member] | Issuer [Member] | |||||
mi | |||||||
hp | |||||||
acre | |||||||
Ownership percentage | ' | ' | 50.00% | 50.00% | ' | 50.00% | ' |
Miles of Gathering Pipelines | ' | ' | ' | ' | 100 | ' | ' |
Horsepower of Equipment | ' | ' | ' | ' | 9,400 | ' | ' |
Gas Gathering and Compression Agreement Term | ' | ' | ' | ' | '20 years | ' | ' |
Area of dedication, gross | ' | ' | ' | ' | 311,000 | ' | ' |
Payments for investment in unconsolidated affiliate | $108,000,000 | $131,000,000 | $20,000,000 | $128,098,000 | ' | ' | $131,250,000 |
The company's share of net income | ' | ' | ' | 200,000 | ' | ' | ' |
Balance exceeding the net equity in the underlying net assets | ' | ' | 57,000,000 | 57,000,000 | ' | ' | ' |
Reduction of earnings from unconsolidated affiliate | ' | ' | $600,000 | $600,000 | ' | ' | ' |
Preferred_Equity_Of_Subsidiary1
Preferred Equity Of Subsidiary (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 30, 2013 | |
Crestwood Niobrara [Member] | Crestwood Niobrara [Member] | Subsequent Event [Member] | |||
Percentage of funds from future capital contributions | ' | ' | ' | 75.00% | ' |
Maximum amount of funds from future capital contributions | ' | ' | ' | $69,000,000 | ' |
Proceeds from issuance of preferred equity of subsidiary, net | ' | 96,073,000 | 81,000,000 | 81,000,000 | ' |
Proceeds from additional capital contributions | ' | ' | 15,000,000 | 15,000,000 | ' |
Net income attributable to noncontrolling interest | $1,923,000 | $1,923,000 | ' | ' | ' |
Shares issued in lieu of cash | ' | ' | ' | ' | 2,161,657 |
Financial_Instruments_Narrativ
Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Dec. 31, 2010 | Jan. 08, 2013 | Mar. 26, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 30, 2011 | |
CMM Credit Facility, Due March 2017 [Member] | CMM Credit Facility, Due March 2017 [Member] | CMM Credit Facility, Due March 2017 [Member] | CMLP Credit Facility, Due November 2017 [Member] | CMLP Credit Facility, Due November 2017 [Member] | CMLP Credit Facility, Due November 2017 [Member] | Senior Notes, Due 2019 [Member] | Senior Notes, Due 2019 [Member] | Senior Notes, Due 2019 [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, borrowing capacity | ' | ' | ' | $200,000,000 | $200,000,000 | ' | $550,000,000 | $550,000,000 | ' | ' | ' | ' |
Credit Facility, outstanding | ' | ' | ' | 191,900,000 | 191,900,000 | 127,000,000 | 356,200,000 | 356,200,000 | 206,700,000 | ' | ' | ' |
Credit Facility, average outstanding borrowings | ' | ' | ' | 157,000,000 | 126,000,000 | ' | 343,000,000 | 330,000,000 | ' | ' | ' | ' |
Credit Facility, maximum outstanding borrowings | ' | ' | ' | 192,000,000 | 192,000,000 | ' | 365,000,000 | 373,000,000 | ' | ' | ' | ' |
Credit Agreement LIBOR Interest Rate Margin | ' | ' | ' | 2.80% | 2.80% | 2.50% | 2.80% | 2.80% | 2.50% | ' | ' | ' |
Weighted-average interest rate | ' | ' | ' | 3.00% | 3.00% | 2.80% | 3.00% | 3.00% | 2.80% | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | ' | $200,000,000 |
Debt instrument, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.75% | 7.75% | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-19 | 1-Apr-19 | ' |
Conversion average common unit price period | '20 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interests acquired | ' | 65.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial_Instruments_Schedule
Financial Instruments (Schedule Of Carrying Values And Estimated Fair Values Of Senior Notes) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial Instruments [Abstract] | ' | ' |
Senior Notes, Carrying Amount | $351 | $351 |
Senior Notes, Fair Value | $369 | $365 |
Financial_Instruments_Schedule1
Financial Instruments (Schedule Of Debt) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Senior Notes, due April 2019 | $350,000 | $350,000 |
Long-term debt, gross | 898,100 | 683,700 |
Plus: Unamortized premium on Senior Notes | 1,286 | 1,461 |
Total long-term debt | 899,386 | 685,161 |
CMM Credit Facility, Due March 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Credit facility used for acquisition | 191,900 | 127,000 |
CMLP Credit Facility, Due November 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Credit facility used for acquisition | $356,200 | $206,700 |
Accounts_Payable_Accrued_Expen2
Accounts Payable, Accrued Expenses And Other Liabilities (Schedule Of Accounts Payable And Other Liabilities) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable, Accrued Expenses And Other Liabilities [Abstract] | ' | ' |
Accrued expenses | $11,305 | $9,608 |
Accrued property taxes | 5,843 | 5,638 |
Accrued product purchases payable | 1,818 | 2,450 |
Tax payable | 1,353 | 2,159 |
Interest payable | 14,054 | 7,505 |
Accounts payable | 6,653 | 2,278 |
Other | 9 | 79 |
Total accounts payable, accrued expenses and other liabilities | $41,035 | $29,717 |
Commitments_And_Contingent_Lia1
Commitments And Contingent Liabilities (Narrative) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accrual for legal matters | $0.40 | ' |
Accrual for environmental matters | 0.3 | 0.2 |
Potential liability related to environmental exposures minimum | 0.3 | ' |
Potential liability related to environmental exposures maximum | 0.5 | ' |
Maximum [Member] | ' | ' |
Accrual for legal matters | ' | $0.10 |
Income_Taxes_Details
Income Taxes (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes [Abstract] | ' |
Texas margin tax rate | 0.70% |
Equity_Plan_Narrative_Details
Equity Plan (Narrative) (Details) (USD $) | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||
Phantom And Restricted Units [Member] | Phantom And Restricted Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | |
Unvested compensation cost | ' | ' | $4,000,000 | $3,000,000 | |
Compensation expense | 2,138,000 | 1,528,000 | [1] | ' | ' |
Grants of units, estimated grant date fair value | ' | ' | $5,000,000 | ' | |
Common units to satisfy employee tax withholding obligations | 3,341 | 414 | ' | ' | |
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Equity_Plan_Schedule_Of_Phanto
Equity Plan (Schedule Of Phantom And Restricted Unit Activity) (Details) (2007 Equity Plan [Member], USD $) | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Phantom Units [Member] | Phantom Units [Member] | Restricted Units [Member] | Phantom And Restricted Units [Member] | Phantom And Restricted Units [Member] | Phantom And Restricted Units [Member] | Phantom And Restricted Units [Member] | |
Payable In Cash [Member] | Payable In Units [Member] | Payable In Units [Member] | Payable In Cash [Member] | Payable In Cash [Member] | Payable In Units [Member] | Payable In Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Unvested units - January 1 | ' | ' | ' | $26.02 | $26.45 | $26.01 | $28.35 |
Unvested units - January 1, units | ' | ' | ' | 4,945 | 8,312 | 322,230 | 221,992 |
Vested | $27.22 | $28.70 | $26.40 | ' | ' | ' | ' |
Vested, units | -3,013 | -71,006 | -11,349 | ' | ' | ' | ' |
Granted | ' | $24.33 | $24.86 | ' | ' | ' | ' |
Granted, units | ' | 161,807 | 27,900 | ' | ' | ' | ' |
Cancelled | $25.81 | $27.96 | ' | ' | ' | ' | ' |
Cancelled, units | -354 | -7,114 | ' | ' | ' | ' | ' |
Unvested units - September 30 | ' | ' | ' | $26.02 | $26.45 | $26.01 | $28.35 |
Unvested units - September 30, units | ' | ' | ' | 4,945 | 8,312 | 322,230 | 221,992 |
Transactions_With_Related_Part2
Transactions With Related Parties (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 |
Maximum [Member] | Maximum [Member] | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Reimbursements of operating expenses | $1 | $2 | $1 | $1 |
Transactions_With_Related_Part3
Transactions With Related Parties (Schedule Of Revenues, Expenses And Reimbursements From Affiliates) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Transactions With Related Parties [Abstract] | ' | ' | ' | ' |
Operating revenues | $24,147,000 | $27,956,000 | $74,317,000 | $86,739,000 |
Operating expenses | $13,000,000 | $5,000,000 | $39,000,000 | $15,000,000 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Revenue, Major Customer [Line Items] | ' | ' |
Operating segments | 8 | ' |
Reportable segments | 4 | ' |
Barnett Shale [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Revenue percentages, significant customer concentration | 34.00% | 50.00% |
Marcellus [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Revenue percentages, significant customer concentration | 21.00% | ' |
Fayetteville Shale [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Revenue percentages, significant customer concentration | ' | 10.00% |
Granite Wash [Member] | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' |
Revenue percentages, significant customer concentration | 10.00% | ' |
Segment_Information_Reconcilia
Segment Information (Reconciliation Of Net Income To EBITDA) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Segment Information [Abstract] | ' | ' | ' | ' | ||
Net income | $6,388 | $14,381 | [1] | $20,216 | $30,984 | [1] |
Interest and debt expense | 11,625 | 8,905 | [1] | 34,260 | 25,425 | [1] |
Income tax expense | 347 | 306 | [1] | 1,024 | 884 | [1] |
Depreciation, amortization and accretion expense | 14,557 | 11,568 | [1] | 49,618 | 35,909 | [1] |
EBITDA | $32,917 | $35,160 | $105,118 | $93,202 | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Segment_Information_Schedule_O
Segment Information (Schedule Of Reportable Segment Data) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
Operating revenues | $46,991 | $35,057 | $140,336 | $85,236 | ' | ||
Operating revenues - related party | 24,147 | 27,956 | 74,317 | 86,739 | ' | ||
Product purchases | 5,295 | 10,341 | [1] | 18,197 | 26,755 | [1] | ' |
Product purchases - related party | 7,556 | ' | 22,191 | ' | ' | ||
Operations and maintenance expense | 14,895 | 10,942 | [1] | 40,503 | 30,053 | [1] | ' |
General and administrative expense | 10,367 | 6,570 | [1] | 28,536 | 21,965 | [1] | ' |
Goodwill impairment | -4,053 | ' | -4,053 | ' | ' | ||
Gain on sale of asset | 4,392 | ' | 4,392 | ' | ' | ||
Loss from unconsolidated affiliate | -447 | ' | -447 | ' | ' | ||
EBITDA | 32,917 | 35,160 | 105,118 | 93,202 | ' | ||
Goodwill | 99,596 | 95,031 | 99,596 | 95,031 | 95,031 | ||
Total assets | 1,883,983 | 1,499,480 | 1,883,983 | 1,499,480 | 1,610,469 | ||
Capital expenditures | 84,299 | 11,973 | 164,596 | 34,346 | [1] | ' | |
Marcellus [Member] | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
Operating revenues | 15,914 | 7,976 | 45,497 | 15,003 | ' | ||
Operating revenues - related party | 74 | ' | 162 | ' | ' | ||
Operations and maintenance expense | 2,832 | 815 | 7,774 | 1,328 | ' | ||
EBITDA | 13,156 | 7,161 | 37,885 | 13,675 | ' | ||
Goodwill | 8,618 | ' | 8,618 | ' | ' | ||
Total assets | 672,627 | 396,634 | 672,627 | 396,634 | ' | ||
Capital expenditures | 71,124 | 4,540 | 135,845 | 5,378 | ' | ||
Barnett Shale [Member] | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
Operating revenues | 8,257 | 5,390 | 26,647 | 12,053 | ' | ||
Operating revenues - related party | 23,624 | 27,956 | 72,856 | 86,739 | ' | ||
Product purchases | 157 | 60 | 558 | 60 | ' | ||
Operations and maintenance expense | 7,717 | 6,963 | 21,284 | 18,438 | ' | ||
EBITDA | 24,007 | 26,323 | 77,661 | 80,294 | ' | ||
Total assets | 604,569 | 619,768 | 604,569 | 619,768 | ' | ||
Capital expenditures | 156 | 4,719 | 8,925 | 10,718 | ' | ||
Fayetteville Shale [Member] | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
Operating revenues | 7,799 | 7,174 | 21,383 | 20,368 | ' | ||
Product purchases | 249 | 137 | 732 | 343 | ' | ||
Operations and maintenance expense | 2,303 | 1,855 | 6,747 | 6,399 | ' | ||
EBITDA | 5,247 | 5,182 | 13,904 | 13,626 | ' | ||
Goodwill | 76,767 | 76,767 | 76,767 | 76,767 | ' | ||
Total assets | 297,064 | 304,669 | 297,064 | 304,669 | ' | ||
Capital expenditures | 4,106 | 1,086 | 6,818 | 10,040 | ' | ||
Granite Wash [Member] | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
Operating revenues | 12,733 | 10,702 | 39,368 | 28,021 | ' | ||
Operating revenues - related party | 449 | ' | 1,299 | ' | ' | ||
Product purchases | 3,872 | 9,481 | 13,936 | 24,514 | ' | ||
Product purchases - related party | 7,556 | ' | 22,191 | ' | ' | ||
Operations and maintenance expense | 810 | 560 | 2,103 | 1,619 | ' | ||
Gain on sale of asset | 4,392 | ' | 4,392 | ' | ' | ||
EBITDA | 5,336 | 661 | 6,829 | 1,888 | ' | ||
Goodwill | 14,211 | 14,211 | 14,211 | 14,211 | ' | ||
Total assets | 77,719 | 77,611 | 77,719 | 77,611 | ' | ||
Capital expenditures | 3,958 | 448 | 6,481 | 2,411 | ' | ||
Other [Member] | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
Operating revenues | 2,288 | 3,815 | 7,441 | 9,791 | ' | ||
Product purchases | 1,017 | 663 | 2,971 | 1,838 | ' | ||
Operations and maintenance expense | 1,233 | 749 | 2,595 | 2,269 | ' | ||
Goodwill impairment | -4,053 | ' | -4,053 | ' | ' | ||
Loss from unconsolidated affiliate | -447 | ' | -447 | ' | ' | ||
EBITDA | -4,462 | 2,403 | -2,625 | 5,684 | ' | ||
Goodwill | ' | 4,053 | ' | 4,053 | ' | ||
Total assets | 204,053 | 83,701 | 204,053 | 83,701 | ' | ||
Capital expenditures | 4,794 | 955 | 5,954 | 5,140 | ' | ||
Corporate [Member] | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||
General and administrative expense | 10,367 | 6,570 | 28,536 | 21,965 | ' | ||
EBITDA | -10,367 | -6,570 | -28,536 | -21,965 | ' | ||
Total assets | 27,951 | 17,097 | 27,951 | 17,097 | ' | ||
Capital expenditures | $161 | $225 | $573 | $659 | ' | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Statements (Narrative) (Details) (Senior Notes, Due 2019 [Member]) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Senior Notes, Due 2019 [Member] | ' | ' |
Debt instrument, interest rate | 7.75% | 7.75% |
Debt instrument, maturity date | 1-Apr-19 | 1-Apr-19 |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidated Statements Of Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Operating revenues | $71,138 | $63,013 | [1] | $214,653 | $171,975 | [1] |
Operating expenses | 52,670 | 39,421 | [1] | 159,045 | 114,682 | [1] |
Goodwill impairment | -4,053 | ' | -4,053 | ' | ||
Gain on sale of asset | 4,392 | ' | 4,392 | ' | ||
Operating income (loss) | 18,807 | 23,592 | [1] | 55,947 | 57,293 | [1] |
Loss from unconsolidated affiliate | -447 | ' | -447 | ' | ||
Interest and debt expense | -11,625 | -8,905 | [1] | -34,260 | -25,425 | [1] |
Income (loss) before income tax | 6,735 | 14,687 | [1] | 21,240 | 31,868 | [1] |
Income tax expense | 347 | 306 | [1] | 1,024 | 884 | [1] |
Income before earnings from consolidated subsidiaries | 6,388 | 14,381 | 20,216 | 30,984 | ||
Net income | 6,388 | 14,381 | [1] | 20,216 | 30,984 | [1] |
Net income attributable to noncontrolling interest | 1,923 | ' | 1,923 | ' | ||
Net income attributable to Crestwood Midstream Partners LP | 4,465 | 14,381 | [1] | 18,293 | 30,984 | [1] |
General partner's interest in net income | 81 | 7,516 | [1] | 10,474 | 15,038 | [1] |
Limited partner's interest in net income (loss) | 4,384 | 6,865 | [1] | 7,819 | 15,946 | [1] |
Issuer [Member] | ' | ' | ' | ' | ||
Operating expenses | 245 | 179 | 640 | 397 | ||
Operating income (loss) | -245 | -179 | -640 | -397 | ||
Interest and debt expense | -10,518 | -8,147 | -30,731 | -23,896 | ||
Income (loss) before income tax | -10,763 | -8,326 | -31,371 | -24,293 | ||
Income before earnings from consolidated subsidiaries | -10,763 | -8,326 | -31,371 | -24,293 | ||
Earnings (loss) from consolidated subsidiaries | 17,151 | 22,707 | 51,587 | 55,277 | ||
Net income | 6,388 | 14,381 | 20,216 | 30,984 | ||
Net income attributable to Crestwood Midstream Partners LP | 6,388 | ' | 20,216 | ' | ||
General partner's interest in net income | 81 | 7,516 | 10,474 | 15,038 | ||
Limited partner's interest in net income (loss) | 6,307 | 6,865 | 9,742 | 15,946 | ||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ||
Operating revenues | 55,457 | 55,037 | 169,389 | 156,972 | ||
Operating expenses | 46,077 | 37,009 | 135,891 | 106,961 | ||
Goodwill impairment | -4,053 | ' | -4,053 | ' | ||
Gain on sale of asset | 4,392 | ' | 4,392 | ' | ||
Operating income (loss) | 9,719 | 18,028 | 33,837 | 50,011 | ||
Interest and debt expense | 42 | -55 | -91 | -149 | ||
Income (loss) before income tax | 9,761 | 17,973 | 33,746 | 49,862 | ||
Income tax expense | 347 | 306 | 1,024 | 884 | ||
Income before earnings from consolidated subsidiaries | 9,414 | 17,667 | 32,722 | 48,978 | ||
Net income | 9,414 | 17,667 | 32,722 | 48,978 | ||
Net income attributable to Crestwood Midstream Partners LP | 9,414 | ' | 32,722 | ' | ||
Limited partner's interest in net income (loss) | 9,414 | 17,667 | 32,722 | 48,978 | ||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ||
Operating revenues | 15,681 | 7,976 | 45,264 | 15,003 | ||
Operating expenses | 6,348 | 2,233 | 22,514 | 7,324 | ||
Operating income (loss) | 9,333 | 5,743 | 22,750 | 7,679 | ||
Loss from unconsolidated affiliate | -447 | ' | -447 | ' | ||
Interest and debt expense | -1,149 | -703 | -3,438 | -1,380 | ||
Income (loss) before income tax | 7,737 | 5,040 | 18,865 | 6,299 | ||
Income before earnings from consolidated subsidiaries | 7,737 | 5,040 | 18,865 | 6,299 | ||
Net income | 7,737 | 5,040 | 18,865 | 6,299 | ||
Net income attributable to noncontrolling interest | 1,923 | ' | 1,923 | ' | ||
Net income attributable to Crestwood Midstream Partners LP | 5,814 | ' | 16,942 | ' | ||
Limited partner's interest in net income (loss) | 5,814 | 5,040 | 16,942 | 6,299 | ||
Eliminations [Member] | ' | ' | ' | ' | ||
Earnings (loss) from consolidated subsidiaries | -17,151 | -22,707 | -51,587 | -55,277 | ||
Net income | -17,151 | -22,707 | -51,587 | -55,277 | ||
Net income attributable to Crestwood Midstream Partners LP | -17,151 | ' | -51,587 | ' | ||
Limited partner's interest in net income (loss) | ($17,151) | ($22,707) | ($51,587) | ($55,277) | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidated Balance Sheet) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Cash and cash equivalents | $5,668 | $111 | $17 | [1] | $797 | [1] |
Accounts receivable | 27,666 | 21,636 | ' | ' | ||
Accounts receivable - related party | 24,050 | 23,755 | ' | ' | ||
Insurance receivable | 3,072 | 2,920 | ' | ' | ||
Prepaid expenses and other | 791 | 1,941 | ' | ' | ||
Total current assets | 61,247 | 50,363 | ' | ' | ||
Investment in unconsolidated affiliate | 127,651 | ' | ' | ' | ||
Properties, plant and equipment, net | 1,144,872 | 939,846 | ' | ' | ||
Intangible assets, net | 428,880 | 501,380 | ' | ' | ||
Goodwill | 99,596 | 95,031 | 95,031 | ' | ||
Deferred financing costs, net | 20,719 | 22,528 | ' | ' | ||
Other assets | 1,018 | 1,321 | ' | ' | ||
Total assets | 1,883,983 | 1,610,469 | 1,499,480 | ' | ||
Accrued additions to property, plant and equipment | 41,248 | 9,213 | ' | ' | ||
Capital leases | 2,945 | 3,862 | ' | ' | ||
Deferred revenue | 2,426 | 2,634 | ' | ' | ||
Accounts payable - related party | 4,517 | 3,088 | ' | ' | ||
Accounts payable, accrued expenses and other liabilities | 41,035 | 29,717 | ' | ' | ||
Total current liabilities | 92,171 | 48,514 | ' | ' | ||
Long-term debt | 899,386 | 685,161 | ' | ' | ||
Long-term capital leases | 1,252 | 3,161 | ' | ' | ||
Asset retirement obligations | 14,633 | 14,024 | ' | ' | ||
Partners'/members' equity | 876,541 | 859,609 | 881,264 | [1] | 455,623 | |
Total liabilities and partners' capital | 1,883,983 | 1,610,469 | ' | ' | ||
Issuer [Member] | ' | ' | ' | ' | ||
Cash and cash equivalents | 4,506 | 21 | 12 | 797 | ||
Accounts receivable | 1,626 | 608 | ' | ' | ||
Accounts receivable - related party | 399,755 | 366,405 | ' | ' | ||
Prepaid expenses and other | 174 | 584 | ' | ' | ||
Total current assets | 406,061 | 367,618 | ' | ' | ||
Investment in consolidated affiliates | 1,186,766 | 1,041,936 | ' | ' | ||
Properties, plant and equipment, net | 3,069 | 8,519 | ' | ' | ||
Deferred financing costs, net | 16,290 | 17,149 | ' | ' | ||
Other assets | 25 | 20 | ' | ' | ||
Total assets | 1,612,211 | 1,435,242 | ' | ' | ||
Capital leases | 389 | 429 | ' | ' | ||
Accounts payable - related party | 1,887 | 536 | ' | ' | ||
Accounts payable, accrued expenses and other liabilities | 25,229 | 15,547 | ' | ' | ||
Total current liabilities | 27,505 | 16,512 | ' | ' | ||
Long-term debt | 707,486 | 558,161 | ' | ' | ||
Long-term capital leases | 679 | 960 | ' | ' | ||
Partners'/members' equity | 876,541 | 859,609 | ' | ' | ||
Total liabilities and partners' capital | 1,612,211 | 1,435,242 | ' | ' | ||
Co-Issuer [Member] | ' | ' | ' | ' | ||
Accounts receivable - related party | 1 | 1 | ' | ' | ||
Total current assets | 1 | 1 | ' | ' | ||
Total assets | 1 | 1 | ' | ' | ||
Partners'/members' equity | 1 | 1 | ' | ' | ||
Total liabilities and partners' capital | 1 | 1 | ' | ' | ||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ||
Accounts receivable | 15,024 | 14,515 | ' | ' | ||
Accounts receivable - related party | 23,783 | 22,587 | ' | ' | ||
Insurance receivable | 3,072 | 2,920 | ' | ' | ||
Prepaid expenses and other | 595 | 1,357 | ' | ' | ||
Total current assets | 42,474 | 41,379 | ' | ' | ||
Properties, plant and equipment, net | 861,728 | 775,852 | ' | ' | ||
Intangible assets, net | 112,178 | 163,021 | ' | ' | ||
Goodwill | 90,978 | 95,031 | ' | ' | ||
Other assets | 993 | 1,301 | ' | ' | ||
Total assets | 1,108,351 | 1,076,584 | ' | ' | ||
Accrued additions to property, plant and equipment | 24,786 | 3,829 | ' | ' | ||
Capital leases | 2,556 | 3,433 | ' | ' | ||
Accounts payable - related party | 401,460 | 367,682 | ' | ' | ||
Accounts payable, accrued expenses and other liabilities | 9,180 | 11,876 | ' | ' | ||
Total current liabilities | 437,982 | 386,820 | ' | ' | ||
Long-term capital leases | 573 | 2,201 | ' | ' | ||
Asset retirement obligations | 13,759 | 13,188 | ' | ' | ||
Partners'/members' equity | 656,037 | 674,375 | ' | ' | ||
Total liabilities and partners' capital | 1,108,351 | 1,076,584 | ' | ' | ||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ||
Cash and cash equivalents | 1,162 | 90 | 5 | ' | ||
Accounts receivable | 11,016 | 6,513 | ' | ' | ||
Accounts receivable - related party | 12 | ' | ' | ' | ||
Prepaid expenses and other | 22 | ' | ' | ' | ||
Total current assets | 12,212 | 6,603 | ' | ' | ||
Investment in unconsolidated affiliate | 127,651 | ' | ' | ' | ||
Properties, plant and equipment, net | 280,075 | 155,475 | ' | ' | ||
Intangible assets, net | 316,702 | 338,359 | ' | ' | ||
Goodwill | 8,618 | ' | ' | ' | ||
Deferred financing costs, net | 4,429 | 5,379 | ' | ' | ||
Total assets | 749,687 | 505,816 | ' | ' | ||
Accrued additions to property, plant and equipment | 16,462 | 5,384 | ' | ' | ||
Deferred revenue | 2,426 | 2,634 | ' | ' | ||
Accounts payable - related party | 671 | 108 | ' | ' | ||
Accounts payable, accrued expenses and other liabilities | 6,626 | 2,294 | ' | ' | ||
Total current liabilities | 26,185 | 10,420 | ' | ' | ||
Long-term debt | 191,900 | 127,000 | ' | ' | ||
Asset retirement obligations | 874 | 836 | ' | ' | ||
Partners'/members' equity | 530,728 | 367,560 | ' | ' | ||
Total liabilities and partners' capital | 749,687 | 505,816 | ' | ' | ||
Eliminations [Member] | ' | ' | ' | ' | ||
Accounts receivable - related party | -399,501 | -365,238 | ' | ' | ||
Total current assets | -399,501 | -365,238 | ' | ' | ||
Investment in consolidated affiliates | -1,186,766 | -1,041,936 | ' | ' | ||
Total assets | -1,586,267 | -1,407,174 | ' | ' | ||
Accounts payable - related party | -399,501 | -365,238 | ' | ' | ||
Total current liabilities | -399,501 | -365,238 | ' | ' | ||
Partners'/members' equity | -1,186,766 | -1,041,936 | ' | ' | ||
Total liabilities and partners' capital | ($1,586,267) | ($1,407,174) | ' | ' | ||
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidated Statement Of Cash Flows) (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | |
Net cash provided by (used in) operating activities | $81,353 | $77,868 | [1] |
Acquisitions, net of cash acquired | ' | -468,987 | [1] |
Capital expenditures | -164,596 | -34,346 | [1] |
Proceeds from sale of asset | 11,000 | ' | |
Investment in unconsolidated affiliate | -128,098 | ' | |
Other | 20 | ' | |
Net cash used in investing activities | -281,674 | -503,333 | [1] |
Proceeds from credit facilities | 483,400 | 377,700 | [1] |
Repayments of credit facilities | -269,000 | -337,500 | [1] |
Payments on capital leases | -3,015 | -2,155 | [1] |
Deferred financing costs paid | -85 | -6,489 | [1] |
Proceeds from issuance of common units, net | 118,562 | 217,508 | [1] |
Proceeds from issuance of preferred equity of subsidiary, net | 96,073 | ' | |
Contributions received | ' | 249,680 | [1] |
Distribution to General Partner for additional interest in CMM | -129,000 | ' | |
Distributions paid | -90,357 | -73,653 | [1] |
Taxes paid for equity-based compensation vesting | -700 | -406 | [1] |
Net cash provided by financing activities | 205,878 | 424,685 | [1] |
Change in cash and cash equivalents | 5,557 | -780 | [1] |
Cash and cash equivalents at beginning of period | 111 | 797 | [1] |
Cash and cash equivalents at end of period | 5,668 | 17 | [1] |
Issuer [Member] | ' | ' | |
Net cash provided by (used in) operating activities | -18,629 | -16,014 | |
Capital expenditures | -573 | -659 | |
Capital contributions to consolidated affiliates | -82,025 | 1,647 | |
Investment in unconsolidated affiliate | ' | -131,250 | |
Change in advances to affiliates, net | 57,413 | -31,730 | |
Net cash used in investing activities | -25,185 | -161,992 | |
Proceeds from credit facilities | 343,500 | 350,200 | |
Repayments of credit facilities | -194,000 | -329,500 | |
Payments on capital leases | -321 | -256 | |
Deferred financing costs paid | -85 | -161 | |
Proceeds from issuance of common units, net | 118,562 | 217,508 | |
Contributions received | ' | 5,930 | |
Distribution to General Partner for additional interest in CMM | -129,000 | ' | |
Distributions paid | -90,357 | -66,500 | |
Net cash provided by financing activities | 48,299 | 177,221 | |
Change in cash and cash equivalents | 4,485 | -785 | |
Cash and cash equivalents at beginning of period | 21 | 797 | |
Cash and cash equivalents at end of period | 4,506 | 12 | |
Guarantor Subsidiaries [Member] | ' | ' | |
Net cash provided by (used in) operating activities | 102,271 | 86,153 | |
Acquisitions, net of cash acquired | ' | -87,269 | |
Capital expenditures | -52,464 | -28,309 | |
Proceeds from sale of asset | 11,000 | ' | |
Net cash used in investing activities | -41,464 | -115,578 | |
Payments on capital leases | -2,694 | -1,899 | |
Change in advances from affiliates, net | -57,413 | 31,730 | |
Taxes paid for equity-based compensation vesting | -700 | -406 | |
Net cash provided by financing activities | -60,807 | 29,425 | |
Non-Guarantor Subsidiaries [Member] | ' | ' | |
Net cash provided by (used in) operating activities | 31,506 | 9,934 | |
Acquisitions, net of cash acquired | ' | -381,718 | |
Capital expenditures | -111,559 | -5,378 | |
Investment in unconsolidated affiliate | -128,098 | ' | |
Other | 20 | ' | |
Net cash used in investing activities | -239,637 | -387,096 | |
Proceeds from credit facilities | 139,900 | 27,500 | |
Repayments of credit facilities | -75,000 | -8,000 | |
Deferred financing costs paid | ' | -6,328 | |
Proceeds from issuance of preferred equity of subsidiary, net | 96,073 | ' | |
Contributions received | 82,025 | 375,000 | |
Distributions paid | -33,795 | -11,005 | |
Net cash provided by financing activities | 209,203 | 377,167 | |
Change in cash and cash equivalents | 1,072 | 5 | |
Cash and cash equivalents at beginning of period | 90 | ' | |
Cash and cash equivalents at end of period | 1,162 | 5 | |
Eliminations [Member] | ' | ' | |
Net cash provided by (used in) operating activities | -33,795 | -2,205 | |
Capital contributions to consolidated affiliates | 82,025 | -1,647 | |
Investment in unconsolidated affiliate | ' | 131,250 | |
Change in advances to affiliates, net | -57,413 | 31,730 | |
Net cash used in investing activities | 24,612 | 161,333 | |
Contributions received | -82,025 | -131,250 | |
Distributions paid | 33,795 | 3,852 | |
Change in advances from affiliates, net | 57,413 | -31,730 | |
Net cash provided by financing activities | $9,183 | ($159,128) | |
[1] | Financial information has been revised to include the results of Crestwood Marcellus Midstream LLC as discussed in Note 2. |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Subsequent Events [Abstract] | ' | ' | ' | ' |
Revenues | $140 | $114 | $418 | $318 |
Net income (loss) | $12 | $24 | $40 | $63 |
Net income per limited partner unit - basic | $0.02 | $0.15 | $0.17 | $0.40 |
Net income per limited partner unit - diluted | $0.02 | $0.15 | $0.17 | $0.40 |