SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2025 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On October 31, 2025, the Company consummated the previously announced EPIC Sale with affiliates of Diamondback Energy, Inc (together with the Company, the “Sellers”) and affiliates of Plains All American Pipeline, L.P. (the “Buyer”) to sell, collectively, 55.5% outstanding interests in EPIC. The Company received $504.2 million of upfront cash consideration in exchange for its respective 27.5% interest in EPIC. In addition, the Company can receive approximately $96.0 million attributable to an earn out, payable upon the approval by the board of directors of the general partner of EPIC of one or more capital projects that achieve certain capacity expansion criteria. On October 15, 2025, the Board declared a cash dividend of $0.78 per share on the Company’s Class A Common Stock payable to stockholders of record as of October 27, 2025 on October 31, 2025. The Company, through its ownership of the general partner of the Partnership, declared a distribution of $0.78 per Common Unit from the Partnership to the holders of Common Units, which was paid on October 31, 2025. Subsequent to the quarter ended September 30, 2025, the Company repurchased 0.1 million shares of its outstanding Class A Common Stock for a total cost of $3.5 million. The Company has repurchased 4.1 million shares of its outstanding Class A Common Stock for a total cost of $176.0 million under its Repurchase Program, of which 4.1 million shares held as treasury stock was retired, year to date as of November 5, 2025.
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