0001748773-22-000006 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash	$ 19,897	$ 23,927
Accounts receivable—related party	58,154	57,447
Accounts receivable—third party, net	9,415	5,658
Sourced water inventory	13,081	10,108
Other current assets	1,181	1,127
Total current assets	101,728	98,267
Property, plant and equipment:
Land	98,645	85,826
Property, plant and equipment	1,075,405	1,012,777
Accumulated depreciation, amortization and accretion	(121,507)	(100,728)
Property, plant and equipment, net	1,052,543	997,875
Right of use assets	0	574
Equity method investments	612,541	532,927
Real estate assets, net	84,609	96,687
Intangible lease assets, net	3,650	4,262
Deferred tax asset	62,356	73,264
Other assets	3,708	4,732
Total assets	1,921,135	1,808,588
Current liabilities:
Accounts payable and accrued liabilities	48,267	42,647
Taxes payable	603	192
Short-term lease liability	0	574
Total liabilities	79	35
Total current liabilities	48,949	43,448
Long-term debt	687,956	569,947
Asset retirement obligations	16,911	15,093
Total liabilities	753,816	628,488
Commitments and contingencies (Note 15)
Unitholders’ equity:
General Partner—Diamondback	819	899
Common units—public (38,356,771 units issued and outstanding as of December 31, 2021 and 42,356,637 units issued and outstanding as of December 31, 2020)	350,230	385,189
Class B units—Diamondback (107,815,152 units issued and outstanding as of December 31, 2021 and as of December 31, 2020)	819	899
Accumulated other comprehensive income (loss)	10	(123)
Total Rattler Midstream LP unitholders’ equity	351,878	386,864
Non-controlling interest	815,441	793,638
Non-controlling interest in accumulated other comprehensive income (loss)	0	(402)
Total equity	1,167,319	1,180,100
Total liabilities and unitholders’ equity	$ 1,921,135	$ 1,808,588

Consolidated Balance Sheets (Parenthetical) - shares	Feb. 18, 2022	Dec. 31, 2021	Dec. 31, 2020	May 28, 2019
Common Units
Common units issued (in shares)		38,356,771	42,356,637
Units outstanding (in shares)		0	42,356,637
Class B Units
Common units issued (in shares)		107,815,152	107,815,152	107,815,152
Units outstanding (in shares)	107,815,152	107,815,152	107,815,152

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total revenues	$ 396,341,000	$ 423,905,000	$ 447,673,000
Costs and expenses:
Direct operating expenses	102,925,000	131,393,000	106,311,000
Cost of goods sold (exclusive of depreciation and amortization)	43,470,000	38,370,000	62,856,000
Real estate operating expenses	2,231,000	2,361,000	2,643,000
Depreciation, amortization and accretion	49,196,000	53,123,000	42,336,000
Impairment and abandonments	3,371,000	918,000	0
General and administrative expenses	21,611,000	16,367,000	12,663,000
(Gain) loss on disposal of assets	4,956,000	(729,000)	1,524,000
Total costs and expenses	227,760,000	241,803,000	228,333,000
Income (loss) from operations	168,581,000	182,102,000	219,340,000
Other income (expense):
Interest income (expense), net	(32,080,000)	(17,287,000)	(1,039,000)
Gain (loss) on sale of equity method investments	23,020,000	0	0
Income (loss) from equity method investments	14,779,000	(9,881,000)	(6,329,000)
Total other income (expense), net	5,719,000	(27,168,000)	(7,368,000)
Net income (loss) before income taxes	174,300,000	154,934,000	211,972,000
Provision for (benefit from) income taxes	10,530,000	10,229,000	26,253,000
Net income (loss)	163,770,000	144,705,000	185,719,000
Net Income Before Initial Public Offering	0	0	65,995,000
Net Income (Loss) After Initial Public Offering	163,770,000	144,705,000	119,724,000
Less: Net income (loss) attributable to non-controlling interest	126,990,000	110,014,000	90,922,000
Net income (loss) attributable to Rattler Midstream LP	$ 36,780,000	$ 34,691,000	$ 28,802,000
Net income (loss) attributable to limited partners per common unit:
Basic (in dollars per share)	$ 0.86	$ 0.74	$ 0.64
Diluted (in dollars per share)	$ 0.86	$ 0.74	$ 0.64
Weighted average number of limited partner common units outstanding:
Basic (in shares)	40,682	43,739	43,622
Diluted (in shares)	40,682	43,739	43,622
Midstream revenues—related party
Revenues:
Total revenues	$ 356,498,000	$ 379,089,000	$ 409,120,000
Midstream revenues—third party
Revenues:
Total revenues	26,893,000	31,124,000	24,324,000
Other revenues—related party
Revenues:
Total revenues	8,909,000	7,801,000	5,150,000
Other revenues—third party
Revenues:
Total revenues	$ 4,041,000	$ 5,891,000	$ 9,079,000

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 163,770	$ 144,705	$ 185,719
Other comprehensive income (loss):
Change in accumulated other comprehensive income (loss) of equity method investees attributable to non-controlling interest	402	223	(625)
Change in accumulated other comprehensive income (loss) of equity method investees attributable to limited partner	133	75	(198)
Total other comprehensive income (loss)	535	298	(823)
Comprehensive income (loss)	$ 164,305	$ 145,003	$ 184,896

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Consolidated Statements of Changes in Unitholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Limited Partners	General Partner	Limited Partners Member’s Equity Limited Partners	Common Units Limited Partners	Class B Units Limited Partners	Non-Controlling Interest	Accumulated Other Comprehensive Income	Non-Controlling Interest-Accumulated Other Comprehensive Income
Beginning balance at Dec. 31, 2018	$ 527,126		$ 0	$ 527,125	$ 0	$ 1	$ 0	$ 0	$ 0
Beginning balance (in shares) at Dec. 31, 2018					0	0
Increase (Decrease) in Partners' Capital
Contributions from Diamondback	458,674			458,674
Net proceeds from the offering - public (in shares)					43,700
Net proceeds from the offering - public	719,376				$ 719,376
Net proceeds from the offering - General Partner	1,000		1,000
Net proceeds from the offering - Diamondback (in shares)						107,815
Net proceeds from the offering - Diamondback	999					$ 999
Unit-based compensation	4,457				4,457
Elimination of current and deferred tax liabilities	31,094			31,094
Allocation of net investment to unitholder	0			(322,663)			322,663
Distributions	(33,712)			(33,712)
Distributions subsequent to the offering	(778,070)		(21)	(726,513)	(14,858)	(21)	(36,657)
Other comprehensive income	(823)							(198)	(625)
Change in ownership of consolidated subsidiaries, net		$ 0
Net income (loss)	185,719
Net income (loss) prior to the offering	65,995			65,995
Net income (loss) subsequent to the offering	119,724				28,802		90,922
Ending balance at Dec. 31, 2019	1,115,840		979	$ 0	$ 737,777	$ 979	376,928	(198)	(625)
Ending balance (in shares) at Dec. 31, 2019					43,700	107,815
Increase (Decrease) in Partners' Capital
Unit-based compensation (in shares)					460
Unit-based compensation	8,895				$ 8,895
Distributions	(162,428)		(80)		(46,906)	$ (80)	(115,362)
Distribution equivalent rights payments	(2,238)				(2,238)
Other comprehensive income	298							75	223
Change in ownership of consolidated subsidiaries, net	91,134	(330,924)			$ (330,924)		422,058
Units repurchased for tax withholding (in shares)					(153)
Units repurchased for tax withholding	(1,365)				$ (1,365)
Repurchased units as part of unit buyback (in shares)					(1,650)
Repurchased units as part of unit buyback	(14,741)				$ (14,741)
Net income (loss)	144,705				34,691		110,014
Net income (loss) prior to the offering	0
Net income (loss) subsequent to the offering	144,705
Ending balance at Dec. 31, 2020	1,180,100		899		$ 385,189	$ 899	793,638	(123)	(402)
Ending balance (in shares) at Dec. 31, 2020					42,357	107,815
Increase (Decrease) in Partners' Capital
Unit-based compensation	9,843				$ 9,843
Issuance of common units (in shares)					411
Distributions	(134,192)		(80)		$ (36,540)	$ (80)	(97,492)
Distribution equivalent rights payments	(1,769)				(1,769)
Other comprehensive income	535							133	402
Change in ownership of consolidated subsidiaries, net	(1,663)	$ 6,032			6,032		(7,695)
Units repurchased for tax withholding	(1,714)				$ (1,714)
Repurchased units as part of unit buyback (in shares)					(4,411)
Repurchased units as part of unit buyback	(47,591)				$ (47,591)
Net income (loss)	163,770				36,780		126,990
Net income (loss) prior to the offering	0
Net income (loss) subsequent to the offering	163,770
Ending balance at Dec. 31, 2021	$ 1,167,319		$ 819		$ 350,230	$ 819	$ 815,441	$ 10	$ 0
Ending balance (in shares) at Dec. 31, 2021					38,357	107,815

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 163,770,000	$ 144,705,000	$ 185,719,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for deferred income taxes	9,212,000	10,023,000	26,253,000
Income tax expense	10,530,000	10,229,000	26,253,000
Depreciation, amortization and accretion	49,196,000	53,123,000	42,336,000
(Gain) loss on disposal of assets	4,956,000	(729,000)	1,524,000
Unit-based compensation expense	9,843,000	8,895,000	5,208,000
Impairment and abandonments	3,371,000	918,000	0
(Gain) loss on sale of equity method investments	(23,020,000)	0	0
(Income) loss from equity method investments	(14,779,000)	9,881,000	6,329,000
Distributions from equity method investments	34,739,000	0	0
Other	2,009,000	970,000	0
Changes in operating assets and liabilities:
Accounts receivable—related party	(675,000)	(7,177,000)	(65,032,000)
Accounts receivable—third party	1,211,000	855,000	(1,212,000)
Accounts payable and accrued liabilities	7,777,000	2,742,000	34,299,000
Other	490,000	5,487,000	(17,231,000)
Net cash provided by (used in) operating activities	248,100,000	229,899,000	218,193,000
Cash flows from investing activities:
Additions to property, plant and equipment	(32,169,000)	(136,820,000)	(241,786,000)
Acquisitions of property, plant and equipment	(160,000,000)	0	0
Contributions to equity method investments	(9,085,000)	(102,499,000)	(336,601,000)
Acquisition of equity method investment	(104,502,000)	0	0
Distributions from equity method investments	9,107,000	39,767,000	0
Proceeds from the sale of equity method investments	23,485,000	0	0
Proceeds from the sale of real estate	9,191,000	0	0
Proceeds from the sale of fixed assets	80,650,000	18,743,000	18,000
Net cash provided by (used in) investing activities	(183,323,000)	(180,809,000)	(578,369,000)
Cash flows from financing activities:
Proceeds From Note Offering	0	500,000,000	0
Proceeds from borrowings from revolving credit facility	355,000,000	211,000,000	463,000,000
Payments on revolving credit facility	(239,000,000)	(556,000,000)	(39,000,000)
Debt issuance costs	0	(10,023,000)	(4,310,000)
Net proceeds from initial public offering—public	0	0	719,377,000
Repurchased units as part of unit buyback	(47,591,000)	(14,741,000)	0
Distribution to public	(36,540,000)	(46,906,000)	(14,858,000)
Distribution to Diamondback	(97,114,000)	(115,442,000)	(763,191,000)
Other	(3,562,000)	(3,684,000)	1,227,000
Net cash provided by (used in) financing activities	(68,807,000)	(35,796,000)	362,245,000
Net increase (decrease) in cash	(4,030,000)	13,294,000	2,069,000
Cash at beginning of period	23,927,000	10,633,000	8,564,000
Cash at end of period	19,897,000	23,927,000	10,633,000
Supplemental disclosure of cash flow information:
Interest paid	29,160,000	7,381,000	2,707,000
Supplemental disclosure of non-cash financing activity:
Contributions from Diamondback	0	0	456,055,000
Supplemental disclosure of non-cash investing activity:
Increase in long-term assets and inventory due to contributions from Diamondback	0	0	456,055,000
Accrued liabilities related to capital expenditures	$ 7,020,000	$ 5,328,000	$ 42,160,000

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Organization Rattler Midstream LP (the “Partnership”) is a publicly traded Delaware limited partnership, the common units of which are listed on the Nasdaq Global Select Market under the symbol “RTLR”. The Partnership was formed on July 27, 2018 by Diamondback Energy, Inc. (“Diamondback”) to, among other things, own, operate, develop and acquire midstream and energy-related infrastructure assets in the Midland and Delaware Basins of the Permian Basin. Unless the context requires otherwise, references to “the Partnership” are intended to mean the business and operations of the Partnership and its consolidated subsidiaries and, prior to May 28, 2019 for accounting purposes, the “Predecessor”. Prior to the closing on May 28, 2019 of the initial public offering (“IPO”), Diamondback owned all of the general and limited partner interests in the Partnership. In connection with the IPO, the Partnership (i) issued 43,700,000 common units to the public at a price of $17.50 per common unit, representing a 29% voting limited partner interest in the Partnership, for net proceeds of approximately $719.4 million, (ii) issued 107,815,152 Class B units representing an aggregate 71% voting limited partner interest in the Partnership, in exchange for a $1.0 million cash contribution from Diamondback, (iii) issued a general partner interest in the Partnership to Rattler Midstream GP LLC (the “General Partner”) in exchange for a $1.0 million cash contribution from the General Partner and (iv) caused Rattler Midstream Operating LLC (the “Operating Company”) to make a distribution of approximately $726.5 million to Diamondback. Diamondback, as the holder of the Class B units, and the General Partner, as the holder of the general partner interest, are entitled to receive cash preferred distributions equal to 8% per annum on the outstanding amount of their respective $1.0 million capital contributions, payable quarterly. As of December 31, 2021, the General Partner held a 100% general partner interest in the Partnership and Diamondback beneficially owned all of the Partnership’s 107,815,152 outstanding Class B units, representing approximately 74% of the Partnership’s total units outstanding. Diamondback owns and controls the General Partner. On December 22, 2021, the Partnership completed an internal reorganization (the “Reorganization”), which included the contribution (the “Contribution”) of 100% of the limited liability company interests the Partnership held in Rattler Midstream Operating LLC (“the Operating Company”) to Rattler Holdings LLC, a newly-formed, wholly-owned subsidiary of the Partnership (the “Holding Company”). As a result of the Contribution, the Holding Company was admitted as a member of the Operating Company, and replaced the Partnership as the managing member of the Operating Company. As of December 31, 2021, the Holding Company owned a 26% membership interest and 100% of the sole managing membership interest in the Operating Company, and Diamondback owned, through its ownership of the Operating Company units, a 74% economic, non-voting interest in the Operating Company. As required by accounting principles generally accepted in the United States (“GAAP”), the Partnership consolidates 100% of the assets and operations of the Holding Company and the Operating Company in its financial statements and reflects a non-controlling interest to Diamondback. In addition to the Holding Company and the Operating Company, other consolidated subsidiaries of the Partnership include Tall City Towers LLC (“Tall Towers”), Rattler Ajax Processing LLC, Rattler WTG LLC and Rattler OMOG LLC. The Partnership also owns indirect interests in OMOG JV LLC (“OMOG”); EPIC Crude Holdings, LP (“EPIC”); EPIC Crude Holdings GP, LLC; Wink to Webster Pipeline LLC (“Wink to Webster”); Gray Oak Pipeline, LLC (“Gray Oak”) and Remuda Midstream Holdings LLC which are accounted for as equity method investments as discussed further in Note 7—Equity Method Investments. Basis of Presentation Prior to the Partnership’s IPO on May 28, 2019, the Partnership’s services were performed by the Predecessor, which was a wholly-owned subsidiary of Diamondback. The consolidated results of operations following the completion of the IPO are presented together with the results of operations pertaining to the Predecessor. These consolidated results were prepared from the separate records maintained by the Partnership and may not be indicative of the actual results of operations that might have occurred if the Predecessor had been operated separately during the periods reported. The accompanying consolidated financial statements and related notes thereto were prepared in accordance with GAAP. All significant intercompany balances and transactions have been eliminated upon consolidation. The Partnership reports its operations in one reportable segment. Effective in the first quarter of fiscal 2021, the Partnership determined the former real estate operations segment no longer met the criteria to be an operating segment due to a change in focus and the relative immateriality of the activity. Reclassifications Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. These reclassifications had no effect on the previously reported total assets, total liabilities, unitholders’ equity, results of operations or cash flows.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

Certain amounts included in or affecting the Partnership’s financial statements and related notes must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership’s disclosure of contingent assets and liabilities at the date of the financial statements.

Making accurate estimates and assumptions is particularly difficult in the oil and natural gas industry, given the challenges resulting from volatility in oil and natural gas prices. For instance, in response to the effects of COVID-19 and actions by OPEC members and other exporting nations on the supply and demand in global oil and natural gas markets, many companies in the oil and natural gas industry, including Diamondback, changed their business plans in response to changing market conditions. Such circumstances generally increase the uncertainty in the Partnership’s accounting estimates, particularly those involving financial forecasts.

The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods it considers reasonable in each particular circumstance. Nevertheless, actual results may differ significantly from the Partnership’s estimates. Any effects on the Partnership’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, (i) revenue accruals, (ii) the fair value of long-lived assets and equity method investments, and (iii) income taxes.

Cash

Cash represents unrestricted cash maintained in bank deposit accounts.

Accounts Receivable-Related Party

Accounts receivable-related party consist of receivables from Diamondback, or one of its affiliates. The receivable balance represents operating income less certain cash payments as of December 31, 2021 and 2020.

Accounts Receivable-Third Party

Accounts receivable-third party consist primarily of receivables from gathering services, sourced water and rental agreements. The customers and lessees remit payment for services performed and/or goods received directly to the Partnership. Most payments for gathering services, sourced water and rental agreements are received within two months after the date of service performed or goods delivered.

Accounts receivable are stated at amounts due from customers and lessees, net of an allowance for expected losses as estimated by the Partnership when collection is deemed doubtful. Accounts receivable outstanding longer than the contractual payment terms are considered past due. The Partnership determines its allowance by considering a number of factors, including the length of time accounts receivable are past due, the Partnership’s previous loss history, the debtor’s current ability to pay its obligation to the Partnership, the condition of the general economy and the industry as a whole. The Partnership writes off specific accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for expected losses. At December 31, 2021 and 2020, the Partnership’s allowance for expected losses was immaterial.

Sourced Water Inventory

Sourced water inventory is stated at the lower of historical cost or net realizable value. Inventory costs are determined under the weighted-average method.

Property, Plant and Equipment

Property, plant and equipment (“PP&E”) consist of land, gathering pipelines, facilities and related equipment, which are stated at the lower of historical cost less accumulated depreciation, amortization and accretion, or fair value, if impaired. The Partnership capitalizes construction-related direct labor and material costs. Maintenance and repair costs are expensed as incurred. PP&E assets are depreciated using the straight-line method over the useful lives of the assets ranging from three to thirty years. Upon sale or retirement of depreciable property, the respective cost and related accumulated depreciation, amortization and accretion is eliminated from the balance sheet and the resulting gain or loss is recognized in the statement of operations.

Equity Method Investments

The Partnership accounts for its corporate joint ventures under the equity method of accounting in accordance with Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 323 “Investments — Equity Method and Joint Ventures.” The Partnership applies the equity method of accounting to investments of less than 50% in an investee over which the Partnership exercises significant influence but does not have control, and investments of greater than 50% in an investee over which the Partnership does not exercise significant influence or have control. Under the equity method of accounting, the Partnership’s share of the investee’s earnings or loss is recognized in the statement of operations. As of December 31, 2021, the Partnership’s proportionate share of the income or loss from equity method investments is recognized on a one-month lag for all equity method investments.

Judgment regarding the level of influence over each equity method investment includes considering key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions, material intercompany transactions and extent of ownership by an investor in relation to the concentration of other shareholdings. Additionally, an investment in a limited liability company that maintains a specific ownership account for each investor shall be viewed as similar to an investment in a limited partnership for purposes of determining whether a non-controlling investment shall be accounted for using the cost method or the equity method.

The Partnership reviews its investments to determine if a loss in value which is other than a temporary decline has occurred. If such a loss has occurred, the Partnership recognizes an impairment provision. See Note 7—Equity Method Investments in the notes to the consolidated financial statements in this Annual Report for further discussion of the Partnership’s equity method investments.

Real Estate Assets

Real estate assets are stated at cost, less accumulated depreciation and amortization. The Partnership considers the period of future benefit of each respective asset to determine the appropriate useful life and depreciation and amortization is calculated using the straight-line method over the assigned useful life.

Upon acquisition of real estate properties, the purchase price is allocated to tangible assets, consisting of land and building, and to identified intangible assets and liabilities, which may include the value of above market and below market leases and the value of in-place leases. The allocation of the purchase price is based upon the fair value of each component of the property. Although independent appraisals may be used to assist in the determination of fair value, in many cases these values will be based upon management’s assessment of each property, the selling prices of comparable properties and the discounted value of cash flows from the asset.

The fair values of above market and below market in-place leases will be recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) an estimate of fair market lease rates for the corresponding in-place leases measured over a period equal to the non-cancelable term of the lease including any bargain renewal periods. The above market and below market lease values will be capitalized as intangible lease assets or liabilities. Above market lease values will be amortized as an adjustment of rental income over the remaining term of the respective leases. Below market lease values will be amortized as an adjustment of rental income over the remaining term of the respective leases, including any bargain renewal

periods. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market and below market in-place lease values relating to that lease would be recorded as an adjustment to rental income.

The fair values of in-place leases will include estimated direct costs associated with obtaining a new tenant, and opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease. Direct costs associated with obtaining a new tenant may include commissions, tenant improvements, and other direct costs and are estimated, in part, by management’s consideration of current market costs to execute a similar lease. These direct costs will be included in intangible lease assets on the balance sheet and will be amortized to expense over the remaining term of the respective leases. The value of opportunity costs will be calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. These intangibles will be included in intangible lease assets on the balance sheet and will be amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.

Impairment of Long-Lived Assets

The Partnership reviews its long-lived assets whenever events or circumstances indicate the carrying amount of a long-lived asset may not be recoverable. An impairment loss is recognized only if the carrying amount of a long-lived asset is not recoverable from its estimated future undiscounted cash flows. An impairment loss is the difference between the carrying amount and fair value of the asset. See Note 6—Property, Plant and Equipment in the notes to the consolidated financial statements in this Annual Report for additional discussion of impairment of long-lived assets.

Fair Value of Financial Instruments

The Partnership’s financial instruments consist of cash, accounts receivable, other current assets, accounts payable, accrued liabilities and various other current liabilities, the revolving credit facility and Notes (as defined below). The carrying amount of cash, receivables and payables approximates fair value because of the short-term nature of the instruments. The fair value of the revolving credit facility approximates its carrying value based on the borrowing rates currently available to the Partnership for bank loans with similar terms and maturities. The fair value of the Notes are determined using quoted market prices.

Accrued Liabilities and Accounts Payable

Accrued liabilities and accounts payable consist of the following:


	As of
	December 31, 2021		December 31, 2020
	(In thousands)
Direct operating expenses accrued	$	12,978	$	18,160
Interest expense accrued	12,911		12,969
Capital expenditures accrued	5,509		5,328
Sourced water purchases accrued	7,040		3,597
Accounts payable	8,452		139
Other	1,377		2,454
Accounts payable and accrued liabilities	$	48,267	$	42,647

Commitments and Contingencies

The Partnership may be a party to various legal proceedings, disputes and claims from time to time arising in the course of its business, including those that arise from interpretation of federal and state laws and regulations regarding air and water quality, hazardous and solid waste disposal and other environmental matters. The Partnership records reserves for contingencies related to outstanding legal proceedings, disputes or claims when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum amount of the range is accrued. The Partnership’s assessment is based on information known about the pending matters and its experience in contesting, litigating and settling similar matters. Actual outcomes could differ materially from the Partnership’s assessment.

Accumulated Other Comprehensive Income

The following table provides changes in the components of accumulated other comprehensive income, net of related income tax effects:


	(In thousands)
Balance as of December 31, 2020	$	(525)
Other comprehensive income (loss)	535
Balance as of December 31, 2021	$	10

Non-controlling interest

Non-controlling interest in the accompanying consolidated financial statements represents Diamondback’s ownership in the net assets of the Operating Company. When Diamondback’s relative ownership interest in the Operating Company changes, adjustments to non-controlling interest and common unitholder’s equity, tax effected, will occur. If the changes in the Holding Company’s ownership interest in the Operating Company do not result in a change of control, the transactions are accounted for as equity transactions under ASC Topic 810, “Consolidation.” This guidance requires that any differences between the carrying value of the Holding Company’s basis in the Operating Company and the fair value of the consideration received are recognized directly in equity and attributed to the controlling interest. See Note 10—Unitholders’ Equity and Partnership Distributions for discussion of changes in the Partnership’s and Holding Company’s ownership interest during the years ended December 31, 2021, 2020 and 2019.

Midstream Revenue Recognition

Midstream revenues are comprised of crude oil and natural gas gathering and transportation services, produced water gathering and disposal and water sourcing and distribution services. The Partnership provides gathering and compression and water handling and treatment services under fee-based contracts based on throughput. Under these arrangements, the Partnership receives fees for gathering crude oil and natural gas, compression services, and water handling, disposal, and treatment services. The revenue the Partnership earns from these arrangements is directly related to (i) in the case of natural gas gathering and compression, the volumes of metered natural gas that the Partnership gathers, compresses, transports and delivers to other transmission delivery points, (ii) in the case of oil gathering, the volumes of metered oil that the Partnership gathers, transports and delivers to other transmission delivery points, (iii) in the case of sourced water services, the quantities of sourced water obtained, transported and delivered to the Partnership’s customers for use in their well drilling and completion operations and (iv) in the case of produced water gathering and disposal services, the quantities of produced water gathered, transported and disposed of for the Partnership’s customers. The Partnership recognizes revenue when it satisfies a performance obligation by delivering a service to a customer. The Partnership earns substantially all of its midstream revenues from commercial agreements with Diamondback and its affiliates.

The following is a summary of the Partnership’s types of commercial agreements with Diamondback:

•Crude Oil Gathering Agreement. Under the crude oil gathering agreements, the Partnership receives a volumetric fee per Bbl for gathering and delivering crude oil produced within the acreage subject to the acreage dedications (the “Acreage Dedications”).

•Gas Gathering and Compression Agreement. Under the gas gathering and compression agreement, the Partnership received a volumetric fee per MMBtu for gathering and processing all natural gas produced by Diamondback within the Acreage Dedications. The Partnership divested substantially all of its gas gathering and compression assets in the fourth quarter of 2021 as discussed in Note 4—Acquisitions and Divestitures.

•Produced and Flowback Water Gathering and Disposal Agreements. Under the produced and flowback water gathering and disposal agreements, the Partnership receives a fee for gathering or disposing of water produced from operating crude oil and natural gas wells within the Acreage Dedications. The fee is comprised of a volumetric fee per Bbl for the produced water services the Partnership provides. In addition, the Partnership retains the skim oil that is a part of the produced water. The skim oil is processed by a third party, which provides the Partnership a volumetric fee per Bbl.

•Sourced Water Purchase and Services Agreements. Under the sourced water purchase and services agreements, the Partnership receives a fee for sourcing, transporting and delivering all raw sourced water and recycled sourced water required by Diamondback and third parties to carry out its oil and natural gas activities within the Acreage Dedications. The fee is comprised of a volumetric fee per Bbl for the type of sourced water services the Partnership provides.

Performance Obligations

For gathering crude oil and natural gas, delivering sourced water, and collecting, recycling and disposing of produced water, the Partnership’s performance obligations are satisfied over time using volumes delivered to measure progress. The Partnership records revenue related to the volumes delivered at the contract price at the time of delivery.

For water sales, each unit sold is generally considered a distinct good and the related performance obligation is generally satisfied at a point in time (i.e., at the time control of the water is transferred to the customer). The Partnership recognizes revenue from the sale of water when its contracted performance obligation to deliver water is satisfied and control of the water is transferred to the customer. This usually occurs when the water is delivered to the location specified in the contract and the title and risks of rewards and ownership are transferred to the customer.

Transaction Price Allocated to Remaining Performance Obligations

Under its revenue agreements, each delivery generally represents a separate performance obligation; therefore, future volumes delivered are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required.

Contract Balances

Under the Partnership’s revenue agreements, the Partnership invoices customers after the Partnership’s performance obligations have been satisfied, at which point payment is unconditional. As such, the Partnership’s revenue agreements do not give rise to contract assets or liabilities.

Real Estate Revenue Recognition

The Partnership recognizes rental revenue from tenants on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased asset. Rental income—related party is comprised of revenues earned from lease agreements with Diamondback and its affiliates. Other real estate revenue is derived from tenants’ use of parking, telecommunications and miscellaneous services. Parking and other miscellaneous service revenue is recognized when the related services are utilized by the tenants. Tenant recoveries related to reimbursement of real estate taxes, insurance, repairs and maintenance and other operating expenses are recognized as revenue in the period the applicable expenses are incurred. The reimbursements are recognized and presented gross, as the Partnership is generally the primary obligor with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the associated credit risk.

Concentrations

The Partnership derives substantially all of its revenue from its commercial agreements with Diamondback, which carry initial terms ending in 2034. The Partnership operates produced water disposal wells with other working interest owners. The revenues and expenses related to these disposal activities are reported on a net basis as part of revenues and costs and expenses.

Income Taxes

The Partnership is treated as a corporation for U.S. federal income tax purposes as a result of its election to be treated as a corporation effective May 24, 2019. Subsequent to the effective date of the Partnership’s election, it is subject to U.S. federal and state income tax at corporate rates. The Partnership uses the asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities and (ii) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future period when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax

assets and liabilities is recognized in income in the period the rate change is enacted. A valuation allowance is provided for deferred tax assets when it is more likely than not the deferred tax assets will not be realized.

The Partnership is continuing its practice of recognizing interest and penalties related to income tax matters as interest expense and general and administrative expenses, respectively. During the year ended December 31, 2021, there was no interest or penalties associated with uncertain tax positions recognized in the Partnership’s consolidated financial statements. See Note 13—Income Taxes for further details.

Common Control Transactions

A contribution or acquisition of a set of assets and related liabilities (a “set”) to the Partnership from Diamondback is analyzed to determine whether the set meets the definition of a business in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, “Business Combinations.” A contribution or acquisition of a set of assets that does not constitute a business is recognized at the date of the transfer at its carrying amount in the accounts of Diamondback in accordance with the guidance regarding transactions between entities under common control in ASC 805-50. Management then evaluates whether the asset contribution results in a change in the reporting entity, as defined in ASC Topic 250, “Accounting Changes and Error Corrections.” An asset contribution or acquisition that does not constitute a change in the reporting entity is accounted for prospectively from the date of the transfer, while an asset contribution or acquisition that constitutes a change in the reporting entity would result in retrospective application of the transaction.

See Note 4—Acquisitions and Divestitures for additional discussions of common control transactions with Diamondback.

Recent Accounting Pronouncements

Recently Adopted Pronouncements

In December 2019, the FASB issued Accounting Standards Update (“ASU”) 2019-12, "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes." This update was intended to simplify the accounting for income taxes by removing certain exceptions and by clarifying and amending existing guidance. This update was effective for public business entities beginning after December 15, 2020 with early adoption permitted. The Partnership adopted ASU 2019-12 effective January 1, 2021 and does not believe that it has had an impact on its financial position, results of operations or liquidity.

Accounting Pronouncements Not Yet Adopted

There are no recent accounting pronouncements not yet adopted.

The Partnership considers the applicability and impact of all ASUs. ASUs not listed above were assessed and determined to be either not applicable or clarifications of ASUs previously disclosed.

REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2021

Revenue Recognition and Deferred Revenue [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

The Partnership generates revenues by charging fees on a per unit basis for gathering crude oil and natural gas, delivering and storing sourced water, and collecting, recycling and disposing of produced water.

Surface revenue, rental and real estate income and amortization of out of market leases are outside the scope of ASC Topic 606, “Revenue from Contracts with Customers.”

Disaggregation of Revenue

In the following table, revenue from contracts with customers is disaggregated by type of service and type of fee.


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Produced water gathering and disposal	$	269,984	$	290,043	$	275,882
Sourced water gathering	68,613		68,800		115,135
Crude oil gathering	25,653		29,862		27,206
Natural gas gathering	18,827		20,479		14,317
Real estate contracts (non ASC 606 revenues)	12,950		13,692		14,229
Surface revenue (non ASC 606 revenues)	314		1,029		904
Total revenues	$	396,341	$	423,905	$	447,673

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

ACQUISITIONS AND DIVESTITURES	12 Months Ended
ACQUISITIONS AND DIVESTITURES	Dec. 31, 2021
Business Combinations And Divestitures [Abstract]
ACQUISITIONS AND DIVESTITURES	ACQUISITIONS AND DIVESTITURES 2021 Activity Acquisitions WTG Joint Venture Acquisition On October 5, 2021, the Partnership and a private affiliate of an investment fund formed Remuda Midstream Holdings LLC (the “WTG joint venture”). The Operating Company invested approximately $104.0 million in cash to acquire a 25% interest in the WTG joint venture, which then completed an acquisition of a majority interest in WTG Midstream LLC (“WTG Midstream”) from West Texas Gas, Inc. and its affiliates. WTG Midstream’s assets primarily consist of an interconnected gas gathering system and six major gas processing plants servicing the Midland Basin with 925 MMcf/d of total processing capacity with additional gas gathering and processing expansions planned. Drop Down Transaction On December 1, 2021, the Partnership acquired certain water midstream assets (the “Drop Down assets”) from Diamondback and certain of its subsidiaries (the “Seller”) for $160.0 million, including closing adjustments, in cash in a drop down transaction (the “Drop Down”). The Partnership and the Seller have also mutually agreed to amend their commercial agreements covering produced water gathering and disposal and sourced water gathering services to add certain Diamondback leasehold acreage to the Partnership’s dedication. The Drop Down was accounted for as a transaction between entities under common control, with assets recognized at Diamondback’s historical carrying value of $159.5 million in the consolidated balance sheet, and the difference between purchase price and historical carrying value recorded as a distribution in the consolidated statement of changes in unitholders’ equity. The Drop Down assets include nine active saltwater disposal injection wells with 330 MBbl/d of capacity, seven produced water recycling and storage facilities, 20 fresh water pits and approximately 4,000 acres of fee surface. Also included are 55 miles of produced water gathering pipeline and 18 miles of sourced water gathering pipeline. The Partnership funded the transaction with borrowings under its revolving credit facility. The Drop Down, which was approved by the Conflicts Committee of the board of directors of the General Partner, was determined to be an asset acquisition that did not result in a change in the reporting entity. See Note 6—Property, Plant a nd Equipment for additional discussion of the Drop Down assets. Divestitures Amarillo Rattler Divestiture On April 30, 2021, each of the Partnership and its joint venture partner, Amarillo Midstream, LLC, sold its 50% interest in Amarillo Rattler, LLC (“Amarillo Rattler”) to EnLink Midstream Operating, LP for aggregate total gross potential consideration of $75.0 million, consisting of $50.0 million at closing, $10.0 million upon the first anniversary of closing and up to $15.0 million in contingent earn-out payments over a three-year span based upon Diamondback's development activity. The earn-out payments are contingent on connected wells drilled in Diamondback’s leasehold acreage in the specified earn-out area during each year between 2023 and 2025. Net of transaction expenses and working capital adjustments, the Partnership received $23.5 million at closing, with an incremental $5.0 million due in April 2022, which resulted in a gain on sale of equity method investments of $23.0 million in the consolidated statement of operations for the year ended December 31, 2021. The Partnership’s share of the contingent earn-out payments, which cannot exceed $7.5 million in total over the three-year span, will be recorded if and when the contingent payments become realizable. Real Estate Divestiture On June 28, 2021, the Partnership closed on the sale of one of its real estate properties located in Midland, Texas for proceeds of $9.1 million, including closing adjustments. The sale resulted in a loss on disposal of assets of $0.4 million in the consolidated statement of operations for the year ended December 31, 2021. Pecos County Gas Gathering Divestiture On November 1, 2021, the Partnership completed the sale of substantially all of its natural gas gathering assets to Brazos Delaware Gas, LLC, an affiliate of Brazos Midstream, for aggregate total gross potential consideration of $93.0 million, consisting of (i) $83.0 million paid at closing, after customary closing adjustments, (ii) a $5.0 million contingent payment due in 2023 if the aggregate actual deliveries of gas volumes into the gas gathering system by and/or on behalf of Diamondback and its affiliates exceed certain specified thresholds during 2022, and (iii) a $5.0 million contingent payment due in 2024 if the aggregate actual deliveries of gas volumes into the gas gathering system by and/or on behalf of Diamondback and its affiliates exceed certain specified thresholds during 2022 and 2023. The contingent payments will be recorded if and when they become realizable. 2020 Activity Disposal Wells Divestiture On December 31, 2020, the Partnership closed on a sale agreement through the Operating Company, which included five produced water disposal wells and related easements, licenses and permits for $18.7 million cash after adjustments for use of the disposal wells after the effective date. The sale resulted in a gain on disposal of $4.9 million which is included in (gain) loss on disposal of assets on the Consolidated Statement of Operations. 2019 Activity Ajax and Energen Assets Effective January 1, 2019, Diamondback contributed to the Predecessor certain midstream assets (the “Ajax Assets”) within the Permian Basin that it acquired from Ajax Resources LLC. The carrying value of assets included in this contribution was $21.5 million. The contributed assets were recognized by the Predecessor at Diamondback’s historical basis due to the entities being under common control. Effective January 1, 2019, Diamondback contributed to the Predecessor certain midstream and real estate assets (“the Energen Assets”) within the Permian Basin that it acquired from Energen Corporation. The carrying value of assets included in this contribution was $279.0 million, net of $3.0 million in associated asset retirement obligations. The contributed assets were recognized by the Predecessor at Diamondback’s historical basis due to the entities being under common control. EPIC and Gray Oak Joint Ventures For the year ended December 31, 2019, Diamondback contributed $149.5 million for equity method investments in the EPIC and Gray Oak joint ventures.

REAL ESTATE ASSETS

12 Months Ended

Dec. 31, 2021

Real Estate [Abstract]

REAL ESTATE ASSETS

The following schedules present the cost and related accumulated depreciation or amortization (as applicable) of the Partnership’s real estate assets and intangible lease assets:


		As of December 31,
	Estimated Useful Lives	2021		2020
	(Years)	(In thousands)
Buildings	20-30	$	94,825	$	102,918
Tenant improvements	5-15	4,506		4,506
Land	N/A	964		2,437
Land improvements	5-15	531		484
Total real estate assets		100,826		110,345
Less: accumulated depreciation		(16,217)		(13,658)
Total investment in real estate, net		$	84,609	$	96,687


		As of December 31,
	Weighted Average Useful Lives	2021		2020
	(Months)	(In thousands)
In-place lease intangibles	45	$	11,645	$	11,405
Less: accumulated amortization		(9,520)		(8,980)
In-place lease intangibles, net		2,125		2,425

Above-market lease intangibles	45	3,623		3,623
Less: accumulated amortization		(2,098)		(1,786)
Above-market lease intangibles, net		1,525		1,837
Total intangible lease assets, net		$	3,650	$	4,262

The Partnership sold one if its real estate properties in the second quarter of 2021. See Note 4—Acquisitions and Divestitures for discussion regarding the sale.

Depreciation and amortization expense for real estate assets was $4.3 million, $8.0 million and $7.6 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The following table presents the Partnership’s estimated amortization expense related to lease intangibles for the periods indicated (in thousands):



2022		2023		2024		2025		2026		Thereafter
$	564	$	766	$	940	$	1,014	$	354	$	12

See Note 4—Acquisitions and Divestitures for discussion of the Partnership’s significant real estate divestiture.

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

The following table sets forth the Partnership’s property, plant and equipment:


		As of December 31,
	Estimated Useful Lives	2021		2020
	(Years)	(In thousands)
Produced water disposal systems	10-30	$	766,052	$	654,545
Crude oil gathering systems(1)	30	135,869		133,998
Natural gas gathering and compression systems(1)	10-30	6,192		112,072
Sourced water gathering systems(1)	30	166,549		112,162
Other	3	743		—
Total property, plant and equipment		1,075,405		1,012,777
Less: accumulated depreciation, amortization and accretion		(121,507)		(100,728)
Land	N/A	98,645		85,826
Total property, plant and equipment, net		$	1,052,543	$	997,875

(1)Included in gathering systems are $13.1 million and $27.5 million of assets at December 31, 2021 and December 31, 2020, respectively, that are not subject to depreciation, amortization and accretion as the systems were under construction and had not yet been put into service.

The Drop Down assets acquired from Diamondback in the fourth quarter of 2021 included $91.5 million of produced water disposal system assets, $54.5 million of sourced water gathering systems, $12.2 million of land, and an insignificant amount of sourced water inventory.

The Partnership sold substantially all of its natural gas gathering assets during the fourth quarter of 2021. See Note 4—Acquisitions and Divestitures for discussion regarding the sale of these assets.

Depreciation expense related to property, plant and equipment was $43.6 million, $43.8 million and $33.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. Depreciation expense in 2021 included a write-off of $3.4 million related to in-service projects that were abandoned during the year.

Capitalized internal costs and capitalized interest related to property, plant and equipment were immaterial for the years ended December 31, 2021, 2020 and 2019.

The Partnership evaluates its long-lived assets for potential impairment whenever events or circumstances indicate it is more likely than not that the carrying amount of the asset, or set of assets, is greater than the fair value. An impairment involves comparing the estimated future undiscounted cash flows of an asset with the carrying amount. If the carrying amount of the asset exceeds the estimated future undiscounted cash flows, then an impairment charge is recorded for the difference between the estimated fair value of the asset and its carrying value. The Partnership had $3.4 million in impairment losses for costs incurred on projects which had not yet begun construction during the year ended December 31, 2021 and similar immaterial impairments during the year ended December 31, 2020, which were recorded in impairments and abandonments on the consolidated statement of operations. The Partnership had no impairment loss for the year ended 2019. It is possible that circumstances requiring additional impairment testing will occur in future interim periods, which could result in potentially material impairment charges being recorded.

EQUITY METHOD INVESTMENTS

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

EQUITY METHOD INVESTMENTS

The following table presents the carrying values of the Partnership’s equity method investments as of the dates indicated:


	Ownership Interest		December 31, 2021		December 31, 2020
			(In thousands)
EPIC Crude Holdings, LP(1)	10	%	$	107,210	$	120,863
Gray Oak Pipeline, LLC(2)	10	%	121,105		130,353
Wink to Webster Pipeline LLC(3)	4	%	86,207		82,631
OMOG JV LLC(4)	60	%	187,809		193,726
Amarillo Rattler, LLC (5)	—	%	—		5,354
Remuda Midstream Holdings LLC(6)	25	%	110,143		—
BANGL, LLC(7)	—	%	67		—
Total			$	612,541	$	532,927

(1)EPIC Crude Holdings, LP (“EPIC”) owns and operates a pipeline (the “EPIC pipeline”) that transports crude oil and NGLs across Texas for delivery into the Corpus Christi market. The EPIC pipeline became fully operational in April 2020.

(2)Gray Oak Pipeline, LLC (“Gray Oak”) owns and operates a pipeline (the “Gray Oak pipeline”) that transports crude oil from the Permian to Corpus Christi on the Texas Gulf Coast. The Gray Oak pipeline became fully operational in April 2020.

(3)The Wink to Webster joint venture is developing a crude oil pipeline (the “Wink to Webster pipeline”). The Wink to Webster pipeline’s main segment began interim service operation in the fourth quarter of 2020, and the joint venture is expected to begin full commercial operations in the first quarter of 2022.

(4)OMOG JV LLC (“OMOG”) owns and operates a crude oil gathering system in the Permian Basin.

(5)The ownership interest in Amarillo Rattler was 50% at December 31, 2020. See Note 4—Acquisitions and Divestitures for discussion regarding the sale of this equity method investment during the second quarter of 2021.

(6)Remuda Midstream Holdings LLC (“WTG joint venture”) owns a majority interest in WTG Midstream. WTG Midstream owns and operates a gas gathering system and six major gas processing plants servicing the Midland Basin. See Note 4—Acquisitions and Divestitures for discussion regarding the acquisition of this equity method investment.

(7)Includes $0.1 million of direct transaction costs incurred in the fourth quarter of 2021 for the acquisition of the BANGL Joint Venture in the first quarter of 2022, as defined and discussed further in Note 16—Subsequent Events.

Currently, the Partnership receives distributions from Gray Oak and OMOG, which are classified either within the operating or investing sections of the consolidated statements of cash flows by determining the nature of each distribution. The following table presents total distributions received from the Partnership’s equity method investments for the periods indicated:


	Year Ended December 31,
	2021		2020
	(In thousands)

Gray Oak Pipeline, LLC	$	25,435	$	23,298

OMOG JV LLC	18,411		16,469

Total	$	43,846	$	39,767

The following summarizes the income (loss) of equity method investees reflected in the Consolidated Statement of Operations for the periods indicated:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
EPIC Crude Holdings, LP	$	(15,713)	$	(8,761)	$	(6,597)
Gray Oak Pipeline, LLC	16,187		9,911		831
Wink to Webster Pipeline LLC	(3,441)		(1,655)		(539)
OMOG JV LLC	12,493		(8,950)		(24)
Amarillo Rattler, LLC	(388)		(426)		—
Remuda Midstream Holdings LLC	5,641		—		$	—
Total	$	14,779	$	(9,881)	$	(6,329)

Summarized Financial Information

The following tables set forth summarized financial information of the Partnership’s equity method investments for the periods indicated:


	As of December 31,
	2021		2020
Balance Sheet	(In thousands)
Current assets	$	760,912	$	435,903
Property, plant and equipment	7,726,881		7,041,573
Other assets	151,211		158,861
Total assets	8,639,004		7,636,337
Current liabilities	578,106		243,884
Other liabilities	2,796,189		2,586,449
Member's Equity	5,264,709		4,806,004
Total liabilities and member's equity	$	8,639,004	$	7,636,337


	Year Ended December 31,
	2021		2020
Income Statement	(In thousands)
Revenue	$	1,130,785	$	444,869
Operating expenses	$	433,444	$	378,209
Net income (loss)	$	(4,179)	$	(36,694)

As of December 31, 2021 and 2020, the carrying value of the Partnership’s equity method investments was $612.5 million and $532.9 million, respectively. There was an aggregate difference of $(3.0) million and $(4.0) million between the carrying amounts of these investments and the amounts of underlying equity in net assets of these investments as of December 31, 2021 and 2020, respectively. The Partnership’s basis in these assets includes certain capitalized formation costs and basis differences related to the Partnership's initial investment into each asset above its carrying value.

During the year ended December 31, 2021, the Partnership’s income from equity method investment includes a proportional charge of $3.5 million representing impairment recorded by the investee associated with inventory write-downs and abandoned projects. During the year ended December 31, 2020, the Partnership’s loss from equity method investment includes a proportional charge of $15.8 million representing goodwill impairment recorded by an investee. No other impairments were recorded for the Partnership’s or Predecessor’s equity method investments during the years ended December 31, 2021, 2020, and 2019.

The Partnership reviews its equity method investments to determine if a loss in value which is other than a temporary decline has occurred when events indicate the carrying value of the investment may not be recoverable. Based on indicators present at December 31, 2021, the Partnership reviewed its investment in EPIC and determined the carrying value of the investment was less than its estimated fair value due to a reduction in expected future cash flow. However, based on the Partnership’s review of various factors leading to the decline in the fair value of the investment, it was determined the carrying value of the EPIC investment will recover in the near term and therefore an other than temporary impairment in the carrying value of the EPIC equity method investment does not exist at December 31, 2021. However, should the conclusions on certain factors included in the Partnership’s analysis including estimates of EPIC’s future cash flows change, the Partnership may recognize an impairment that could materially impact its consolidated financial statements.

The entities in which the Partnership is invested all serve customers in the oil and natural gas industry, which experienced economic challenges due to the COVID-19 pandemic and other macroeconomic factors during 2020 and early 2021. Although the oil and natural gas industry substantially recovered from these impacts in 2021, it continues to be subject to pricing volatility due to the Delta and Omicron COVID-19 variants. As such, further economic challenges could occur in future interim periods, and could result in circumstances requiring the Partnership to record potentially material impairment charges of its equity method investments.

DEBT

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

DEBT

Long-term debt consisted of the following as of the dates indicated:


	As of December 31,
	2021		2020
	(In thousands)
5.625% unsecured Senior Notes due 2025(1)	$	500,000	$	500,000
Operating Company revolving credit facility	195,000		79,000
Unamortized debt issuance costs	(7,044)		(9,053)
Total long-term debt	$	687,956	$	569,947

(1)Interest on the Notes is payable on January 15 and July 15 of each year, beginning on January 15, 2021. The Notes mature on July 15, 2025.

The Operating Company’s Revolving Credit Facility

On May 28, 2019, the Partnership, as parent, and the Operating Company, as borrower, entered into a credit agreement (as amended, the “Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent, and a syndicate of banks, including Wells Fargo Bank, National Association, as lenders party thereto. The Operating Company’s credit agreement (the “Credit Agreement”) provides for a revolving credit facility in the maximum amount of $600.0 million, which is expandable to $1.0 billion upon the Operating Company’s election, subject to obtaining additional lender commitments and satisfaction of customary conditions. Loan principal may be optionally repaid from time to time without premium or penalty (other than customary breakage), and is required to be paid at the maturity date of May 28, 2024. The loan is guaranteed by the Partnership, Tall Towers, Rattler OMOG LLC, Rattler Ajax Processing LLC, Rattler WTG LLC and the Holding Company and is secured by substantially all of the Partnership’s, the Operating Company’s and the other guarantors’ assets. On October 22, 2021, Rattler WTG LLC became a guarantor and restricted subsidiary under the credit agreement. On December 21, 2021, the Operating Company entered into the third amendment to the Credit Agreement to, among other things, (i) permit the Reorganization, including, without limitation, the formation of the Holding Company and the Contribution and (ii) provide for the addition of the Holding Company as a Guarantor and Restricted Subsidiary (as such terms are defined in the Credit Agreement).

As of December 31, 2021, the Operating Company had $195.0 million of outstanding borrowings and $405.0 million available for future borrowings under the Credit Agreement.

The outstanding borrowings under the Credit Agreement bear interest at a per annum rate elected by the Operating Company that is based on the prime rate or LIBOR, in each case plus an applicable margin. The applicable margin ranges from 0.250% to 1.250% per annum for prime-based loans and 1.250% to 2.250% per annum for LIBOR loans, in each case depending on the Consolidated Total Leverage Ratio (as defined in the Credit Agreement). The Operating Company is obligated to pay a quarterly commitment fee ranging from 0.250% to 0.375% per annum on the unused portion of the

commitment, which fee is also dependent on the Consolidated Total Leverage Ratio. The weighted average interest rates on the revolving credit facility were 1.41%, 2.10% and 3.13% for the years ended December 31, 2021, 2020 and 2019, respectively.

The Credit Agreement contains various affirmative and negative covenants and also contains financial maintenance covenants that require the maintenance of the financial ratios described below:


Financial Covenant						Required Ratio
Consolidated Total Leverage Ratio						Not greater than 5.00 to 1.00 (or not greater than 5.50 to 1.00 for 3 fiscal quarters following certain acquisitions), but if the Financial Covenant Election (as defined in the Credit Agreement) is made, then not greater than 5.25 to 1.00)
Consolidated Senior Secured Leverage Ratio commencing with the last day of any fiscal quarter in which the Financial Covenant Election (as defined in the Credit Agreement) is made						Not greater than 3.50 to 1.00
Consolidated Interest Coverage Ratio (as defined in the Credit Agreement)						Not less than 2.50 to 1.00

As of December 31, 2021, the Operating Company was in compliance with all financial maintenance covenants under the Credit Agreement. The lenders may accelerate all of the indebtedness under the Credit Agreement upon the occurrence and during the continuance of any event of default. The Credit Agreement contains customary events of default, including non-payment, breach of covenants, materially incorrect representations, cross-default, bankruptcy and change in control. There are no cure periods for events of default due to non-payment of principal and breaches of negative and financial maintenance covenants, but non-payment of interest and breaches of certain affirmative covenants are subject to customary cure periods. With certain specified exceptions, the terms and provisions of the Credit Agreement generally may be amended with the consent of the lenders holding a majority of the outstanding loans or commitments to lend.

UNIT-BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

UNIT-BASED COMPENSATION

On May 22, 2019, the board of directors of the General Partner adopted the Rattler Midstream LP Long-Term Incentive Plan (“LTIP”), for employees, consultants and directors of the General Partner and any of its affiliates, including Diamondback, who perform services for the Partnership. The LTIP provides for the grant of unit options, unit appreciation rights, restricted units, unit awards, phantom units, distribution equivalent rights, cash awards, performance awards, other unit-based awards and substitute awards. Excluding unvested phantom units, as of December 31, 2021, the Partnership had 12,696,146 common units remaining for issuance under its LTIP of the 15,151,515 common units initially authorized. Common units that are cancelled, forfeited or withheld to satisfy exercise prices or tax withholding obligations will be available for delivery pursuant to other awards. The LTIP is administered by the board of directors of the General Partner or a committee thereof.

For the years ended December 31, 2021, 2020 and 2019, respectively, the Partnership incurred $9.8 million, $8.9 million and $5.2 million of unit-based compensation, respectively.

Phantom Units

Under the LTIP, the board of directors of the General Partner is authorized to issue phantom units to eligible employees and non-employee directors. The Partnership estimates the fair value of phantom units as the closing price of the Partnership’s common units on the grant date of the award, and expenses this value over the applicable vesting period. Upon vesting, the phantom units entitle the recipient to one common unit of the Partnership for each phantom unit. The recipients are also entitled to distribution equivalent rights, which represent the right to receive a cash payment equal to the value of the distributions paid on one phantom unit between the grant date and the vesting date.

The following table presents the phantom unit activity under the LTIP for the year ended December 31, 2021:


	Phantom Units	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2020	2,089,668	$	17.07
Granted	259,916	$	11.07
Vested	(571,341)	$	16.34
Forfeited	(40,718)	$	7.28
Unvested at December 31, 2021	1,737,525	$	16.64

The aggregate fair value of phantom units that vested during the year ended December 31, 2021 was $9.3 million. As of December 31, 2021, the unrecognized compensation cost related to unvested phantom units was $23.1 million. Such cost is expected to be recognized over a weighted-average period of 2.33 years.

UNITHOLDERS’ EQUITY AND DISTRIBUTIONS

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

UNITHOLDERS’ EQUITY AND DISTRIBUTIONS

The Partnership has General Partner and limited partner units. At December 31, 2021, the Partnership had a total of 38,356,771 common units issued and outstanding and 107,815,152 Class B units issued and outstanding, of which no common units and 107,815,152 Class B units, representing approximately 74% of the Partnership’s total units outstanding, were beneficially owned by Diamondback. The Operating Company units and the Partnership’s Class B units beneficially owned by Diamondback are exchangeable from time to time for the Partnership’s common units (that is, one Operating Company unit and one Partnership Class B unit, together, will be exchangeable for one Partnership common unit).

Common Unit Repurchase Program

On October 29, 2020, the board of directors of the General Partner approved a common unit repurchase program to acquire up to $100.0 million of the Partnership’s outstanding common units. The common unit repurchase program was authorized to extend through December 31, 2021, but in October 2021, the board of directors of the General Partner increased the repurchase program authorization to $150.0 million and extended the program indefinitely. The Partnership intends to purchase common units under the repurchase program opportunistically with cash on hand, free cash flow from operations and proceeds from potential liquidity events such as the sale of assets. The repurchase program may be suspended from time to time, modified, extended or discontinued by the board of directors of the General Partner at any time. Purchases under the repurchase program may be made from time to time in open market transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, or in privately negotiated transactions, and will be subject to market conditions, applicable legal requirements, contractual obligations and other factors. Any common units purchased as part of this program will be retired. During the year ended December 31, 2021, the Partnership repurchased approximately $47.6 million of common units under this repurchase program. As of December 31, 2021, $87.7 million remained available for repurchase under the Partnership’s common unit repurchase program.

Changes in Ownership of Consolidated Subsidiaries

The following table summarizes changes in the ownership interest in consolidated subsidiaries during the period:


	Year Ended December 31,
		2021		2020		2019
		(In thousands)
Net income (loss) attributable to the Partnership		$	36,780	$	34,691	$	28,802

Change in ownership of consolidated subsidiaries		6,032		(330,924)		—




Change from net income (loss) attributable to the Partnership's unitholders and transfers to non-controlling interest		$	42,812	$	(296,233)	$	28,802

During the year ended December 31, 2021, the Partnership recorded adjustments to non-controlling interest of $(7.7) million, common unitholder equity of $6.0 million, and deferred tax liability of $1.7 million to reflect the ownership structure that was effective at December 31, 2021. During the year ended December 31, 2020, the Partnership recorded an adjustment to non-controlling interest of $422.1 million, common unitholder equity of $(330.9) million, and deferred tax asset of $91.1 million to reflect the ownership structure that was effective at December 31, 2020. The adjustment had no impact on earnings for the year ended December 31, 2020. There were no changes in the ownership interests in consolidated subsidiaries during the period between the closing of the IPO on May 28, 2019 and December 31, 2019.

Cash Distributions

The board of directors of the General Partner sets and administers the cash distribution policies for the Partnership and the Operating Company. Cash distributions paid by the Operating Company to Diamondback and the Partnership as the holders of the Operating Company’s common units are determined by the board of directors of the General Partner on a quarterly basis. The board of directors of the General Partner may change the Partnership’s distribution policy at any time and from time to time. The partnership agreement does not require the Partnership to pay cash distributions on the Partnership’s common units on a quarterly or other basis.

The following table presents cash distributions approved by the board of directors of the General Partner for the periods presented:


		Distributions
		(in thousands)
Period	Amount per Unit	Operating Company Distributions to Diamondback		Common Unitholders		Declaration Date	Unitholder Record Date	Payment Date

Q3 2019	$0.34	$	36,657	$	14,858	October 31, 2019	November 15, 2019	November 22, 2019
Q4 2019	$0.29	$	31,266	$	12,673	February 13, 2020	March 3, 2020	March 10, 2020
Q1 2020	$0.29	$	31,267	$	12,673	April 30, 2020	May 18, 2020	May 26, 2020
Q2 2020	$0.29	$	31,267	$	12,758	July 31, 2020	August 17, 2020	August 24, 2020
Q3 2020	$0.20	$	21,562	$	8,802	October 29, 2020	November 16, 2020	November 23, 2020
Q4 2020	$0.20	$	21,563	$	8,263	February 17, 2021	March 8, 2021	March 15, 2021
Q1 2021	$0.20	$	21,563	$	8,183	April 28, 2021	May 14, 2021	May 21, 2021
Q2 2021	$0.25	$	26,954	$	10,154	August 2, 2021	August 16, 2021	August 23, 2021
Q3 2021	$0.25	$	27,412	$	9,940	October 27, 2021	November 15, 2021	November 22, 2021

EARNINGS PER COMMON UNIT

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER COMMON UNIT

Earnings per common unit on the consolidated statements of operations is based on the net income of the Partnership for the years ended December 31, 2021, 2020 and for the period after the closing of the IPO on May 28, 2019 through December 31, 2019, since this is the amount of net income that is attributable to the Partnership’s common units. The Partnership’s net income is allocated wholly to the common units, as the General Partner does not have an economic interest.

Basic and diluted earnings per common unit is calculated using the two-class method. The two class method is an earnings allocation proportional to the respective ownership among holders of common units and participating securities. Basic earnings per common unit is calculated by dividing net income by the weighted-average number of common units outstanding during the period. Diluted earnings per common unit also considers the dilutive effect of unvested common units granted under the LTIP, calculated using the treasury stock method.


	Year Ended December 31,				May 28, 2019 to December 31, 2019
	2021		2020
	(In thousands, except per unit amounts)
Net income (loss) attributable to Rattler Midstream LP	$	36,780	$	34,691	$	28,802
Less: net income allocated to participating securities(1)	(1,769)		(2,238)		(751)
Net income attributable to common unitholders	35,011		32,453		28,051
Weighted average common units outstanding:
Basic weighted average common units outstanding	40,682		43,739		43,622
Effect of dilutive securities:
Potential common units issuable(2)	—		—		—
Diluted weighted average common units outstanding	40,682		43,739		43,622
Net income per common unit, basic	$	0.86	$	0.74	$	0.64
Net income per common unit, diluted	$	0.86	$	0.74	$	0.64

(1) Distribution equivalent rights granted to employees are considered participating securities.

(2) For the years ended December 31, 2021, 2020 and 2019 no potential common units were included in the computation of diluted earnings per unit because their inclusion would have been anti-dilutive under the treasury stock method for the periods presented. However, such potential common units could dilute basic earnings per unit in future periods.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

Related party transactions include transactions with Diamondback. The Partnership has entered into certain agreements that govern these transactions during the years ended December 31, 2021, 2020 and 2019 as described further below.

Commercial Agreements

The Partnership derives substantially all of its revenue from its commercial agreements with Diamondback for the provision of midstream services. Revenues generated from commercial agreements with Diamondback consist of the following:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Produced water gathering and disposal	$	263,833	$	281,106	$	271,634
Sourced water gathering	65,503		67,336		112,748
Natural gas gathering	18,827		20,479		14,317
Crude oil gathering	8,104		10,006		9,864
Surface revenue	231		162		557
Total	$	356,498	$	379,089	$	409,120

Asset Contribution Agreement

In February 2019, the Predecessor entered into a contribution agreement with Diamondback by which Diamondback contributed midstream assets to the Predecessor, including certain crude oil gathering, produced water disposal wells, land and buildings. The contribution was effective as of January 1, 2019 and was comprised of approximately $297.6 million of net property, plant and equipment and $3.3 million of asset retirement obligations related to the contributed assets.

In December 2021, the Partnership entered into a contribution agreement with Diamondback by which Diamondback contributed midstream assets to the Partnership, including certain produced water disposal wells and associated gathering assets, sourced water wells, fresh water pits and associated gathering assets. The contribution was effective as of December 1, 2021 and was comprised of assets with a historical carrying value of approximately $159.5 million. See Note 4—Acquisitions and Divestitures for further discussion on the Drop Down acquisition.

Equity Contribution Agreement

Prior to the IPO, the Partnership entered into an equity contribution agreement with the Operating Company under which the Partnership contributed all of the net proceeds of the IPO to the Operating Company in exchange for 38,000,000 Operating Company units. The Operating Company used the contributed funds to make distributions to Diamondback and for general company purposes.

Fasken Center Agreement

The Partnership has entered into a long-term lease agreement with Diamondback for certain office space located within the Fasken Center. For the years ended December 31, 2021, 2020 and 2019, the Partnership received $8.9 million, $7.8 million and $5.2 million related to its lease agreement with Diamondback, respectively.

Services and Secondment Agreement

The Partnership reimburses Diamondback for the cost of the seconded employees and contractors, including their wages and benefits. For the years ended December 31, 2021, 2020, and 2019, the Partnership paid $7.7 million, $5.9 million and $5.1 million related to its service and secondment agreement with Diamondback.

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

Prior to the Partnership’s IPO, all of the membership interests of the Predecessor were owned by a single member. Under applicable federal income tax provisions, the Predecessor’s legal existence as an entity separate from its sole owner was disregarded for U.S. federal income tax purposes. As a result, the Predecessor’s owner, Diamondback, was responsible for federal income taxes on its share of the Predecessor’s taxable income. Similarly, the Predecessor had no tax attributes such as net operating loss carryforwards because such tax attributes are treated for federal income tax purposes as attributable to the Predecessor’s owner.

In certain circumstances, GAAP requires or permits entities such as the Predecessor to account for income taxes under the principles of ASC Topic 740, “Income Taxes” (“ASC Topic 740”), notwithstanding the fact that the separate legal entity’s activity is attributed to its owner for income tax purposes. Accordingly, the Predecessor has applied the principles of ASC Topic 740 to its financial statements herein, for periods prior to the Partnership’s IPO, as if the Predecessor had been subject to taxation as a corporation. For the year ended December 31, 2019, net income for the period prior to the Partnership’s IPO reflects income taxes based on federal and state income tax rates, net of federal benefit, applicable to the Predecessor as if it had been subject to taxation as a corporation. At the closing of the IPO, an adjustment of $31.1 million to equity of the Predecessor was recorded for the elimination of current and deferred tax liabilities related to the period prior to the IPO.

Subsequent to the Partnership’s IPO, the Partnership provides for income taxes under the asset and liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities, specifically the Partnership’s investment in the Operating Company, using enacted tax rates expected to be in effect during the year in which the basis differences reverse. Valuation allowances are established when management determines it is more likely than not that some portion, or all, of the Partnership’s deferred tax assets will not be realized.

For the years ended December 31, 2021 and 2020, the Partnership’s net income from continuing operations reflects income tax expense of $10.5 million and $10.2 million, respectively. Net income from continuing operations for the 2019 period subsequent to the IPO reflects income tax expense of $8.1 million and net income of the Predecessor reflects income tax expense of $18.2 million in 2019. Total income tax expense from continuing operations for the years ended December 31, 2021, 2020 and 2019 differed from applying the U.S. statutory corporate income tax rate of 21% to pre-tax income primarily due to state income taxes, net of federal benefit, and due to net income attributable to the non-controlling interest for the periods subsequent to the IPO.

The components of the provision for income taxes from continuing operations for the years ended December 31, 2021, 2020 and 2019 are as follows:


	Year Ended December 31,
	2021		2020		2019 Subsequent to IPO		2019 Prior to IPO
							Predecessor
Current income tax provision:	(In thousands)
Federal	$	1,037	$	—	$	—	$	7,694
State	281		206		189		270
Total current income tax provision	1,318		206		189		7,964
Deferred income tax provision:
Federal	8,600		9,648		7,600		9,983
State	612		375		282		235
Total deferred income tax provision	9,212		10,023		7,882		10,218
Total provision for income taxes	$	10,530	$	10,229	$	8,071	$	18,182

A reconciliation of the statutory federal income tax amount from continuing operations to the recorded expense is as follows:


	Year Ended December 31,
	2021		2020		2019 Subsequent to IPO		2019 Prior to IPO
							Predecessor
	(In thousands)
Income tax expense at the federal statutory rate (21%)	$	36,603	$	32,536	$	26,679	$	17,677
Impact of nontaxable non-controlling interest	(26,668)		(23,103)		(18,982)		—
State income tax expense, net of federal tax effect	418		458		372		505

Other, net	177		338		2		—
Provision for income taxes	$	10,530	$	10,229	$	8,071	$	18,182

The components of the deferred tax assets and liabilities as of December 31, 2021 and 2020 of the Partnership are as follows:


	Year Ended December 31,
	2021		2020
	(In thousands)
Deferred tax assets:
Net operating loss and other carryforwards (indefinite life)	$	22,771	$	15,684
Investment in the Operating Company	39,585		57,580

Total deferred tax assets	62,356		73,264
Deferred tax liabilities:
Investment in the Operating Company	—		—


Total deferred tax liabilities	—		—
Net deferred tax assets (liabilities)	$	62,356	$	73,264

The Partnership had net deferred tax assets of approximately $62.4 million and $73.3 million at December 31, 2021 and 2020, respectively. Subsequent to the deemed formation of the Operating Company as a partnership for federal income tax purposes upon the Partnership’s IPO, deferred taxes are provided on the difference between the Partnership’s basis for financial accounting purposes and basis for federal income tax purposes in its investment in the Operating Company. At December 31, 2021, the Partnership had approximately $108.4 million of federal NOLs with an indefinite carryforward life. The Partnership principally operates in the state of Texas and, for the year ended December 31, 2021, has accrued state income tax expense of $0.3 million for its share of Texas margin tax attributable to the Partnership’s results which are included in a combined tax return filed by Diamondback.

Management considers the likelihood that the Partnership’s net operating losses and other deferred tax attributes will be utilized prior to their expiration, if applicable. At December 31, 2021, management’s assessment included consideration of all available positive and negative evidence, including the Partnership’s projected future taxable income and the anticipated timing of reversal of deferred tax assets. As a result of the assessment, management determined that it is more likely than not that the Partnership will realize its deferred tax assets.

In addition to the Partnership’s 2019 through 2021 tax years, the Predecessor’s 2016 through 2019 tax years, the periods during which the Predecessor’s sole owner, Diamondback, was responsible for federal income taxes on the Predecessor’s taxable income, remain open to examination by tax authorities. As of December 31, 2021, the Partnership did not have any significant uncertain tax positions requiring recognition in the financial statements. The Partnership is continuing its practice of recognizing interest and penalties related to income tax matters as interest expense and general and administrative expenses, respectively. During the year ended December 31, 2021, there was no interest or penalties associated with uncertain tax positions recognized in the Partnership’s consolidated financial statements.

The American Rescue Plan was enacted on March 11, 2021 and the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020, which included a number of provisions applicable to U.S. income taxes for corporations. The Partnership considered the impact of this legislation in the periods of enactment and concluded there was not a material impact to the Partnership’s current or deferred income tax balances.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Partnership’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Partnership uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities.

Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date.

Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value.

Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement.

Assets and Liabilities Not Recorded at Fair Value

The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated balance sheets:


	December 31, 2021				December 31, 2020
	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
	(In thousands)
Debt:
5.625% Senior Notes due 2025	$	492,956	$	521,250	$	490,947	$	528,125
Operating Company revolving credit facility	195,000		195,000		79,000		79,000

(1) The carrying value includes associated deferred loan costs and any remaining discount or premium, if any.

The fair value of the Operating Company’s revolving credit facility approximates its carrying value based on borrowing rates available to the Partnership for bank loans with similar terms and maturities and is classified as Level 2 in the fair value hierarchy. The fair value of the Notes was determined using the December 31, 2021 quoted market price, a Level 1 classification in the fair value hierarchy.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain assets and liabilities are measured at fair value on a nonrecurring basis in certain circumstances. These assets and liabilities can include inventory, midstream assets and other long-lived assets that are written down to fair value when they are impaired or held for sale. Refer to Note 6—Property, Plant and Equipment for additional discussion of nonrecurring fair value adjustments.

Fair Value of Financial Assets

The Partnership has other financial instruments consisting of cash, accounts receivable, other current assets, accounts payable, accrued liabilities and various other current liabilities. The carrying value of these instruments approximates fair value because of the short-term nature of the instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

The Partnership may be a party to various legal proceedings, disputes and claims from time to time arising in the ordinary course of its business. The Partnership’s management believes there are currently no such matters that, if decided adversely, will have a material adverse effect on the Partnership’s financial condition, results of operations, or cash flows.

Volume Commitment Agreement

The Partnership has a water services agreement for produced water disposal services through 2034. The following is a schedule of minimum future payments associated with this agreement as of December 31, 2021:


Year Ending December 31,	Volume Commitment Agreements
	(In thousands)
2022	$	4,563
2023	4,563
2024	4,563
2025	4,563
2026	3,650
Thereafter	29,200
Total	$	51,102

Equity Method Investment Capital Commitment

As of December 31, 2021, the Partnership’s anticipated future capital commitments for its equity method investments totaled $28.2 million in the aggregate. The timing of requested capital commitments can vary, but at December 31, 2021, up to approximately $11.0 million of the remaining commitment could be funded in 2022, with remaining commitments of $17.2 million expected to be funded in 2023.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Cash Distribution On February 16, 2022, the board of directors of the General Partner approved a cash distribution for the fourth quarter of 2021 of $0.30 per common unit, payable on March 14, 2022, to common unitholders of record at the close of business on March 7, 2022. BANGL Joint Venture Acquisition On January 19, 2022, a wholly owned subsidiary of the Operating Company invested approximately $22.2 million in cash to acquire a 10% interest in the BANGL, LLC (“BANGL”) joint venture. The BANGL pipeline, which began full commercial service in the fourth quarter of 2021, provides NGL takeaway capacity from the MPLX and WTG gas processing plants in the Permian Basin to the NGL fractionation hub in Sweeny, Texas and has expansion capacity of up to 300,000 Bbl/d.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Prior to the Partnership’s IPO on May 28, 2019, the Partnership’s services were performed by the Predecessor, which was a wholly-owned subsidiary of Diamondback. The consolidated results of operations following the completion of the IPO are presented together with the results of operations pertaining to the Predecessor. These consolidated results were prepared from the separate records maintained by the Partnership and may not be indicative of the actual results of operations that might have occurred if the Predecessor had been operated separately during the periods reported. The accompanying consolidated financial statements and related notes thereto were prepared in accordance with GAAP. All significant intercompany balances and transactions have been eliminated upon consolidation. The Partnership reports its operations in one reportable segment. Effective in the first quarter of fiscal 2021, the Partnership determined the former real estate operations segment no longer met the criteria to be an operating segment due to a change in focus and the relative immateriality of the activity.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. These reclassifications had no effect on the previously reported total assets, total liabilities, unitholders’ equity, results of operations or cash flows.
Use of Estimates	Use of Estimates Certain amounts included in or affecting the Partnership’s financial statements and related notes must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership’s disclosure of contingent assets and liabilities at the date of the financial statements. Making accurate estimates and assumptions is particularly difficult in the oil and natural gas industry, given the challenges resulting from volatility in oil and natural gas prices. For instance, in response to the effects of COVID-19 and actions by OPEC members and other exporting nations on the supply and demand in global oil and natural gas markets, many companies in the oil and natural gas industry, including Diamondback, changed their business plans in response to changing market conditions. Such circumstances generally increase the uncertainty in the Partnership’s accounting estimates, particularly those involving financial forecasts. The Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods it considers reasonable in each particular circumstance. Nevertheless, actual results may differ significantly from the Partnership’s estimates. Any effects on the Partnership’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include, but are not limited to, (i) revenue accruals, (ii) the fair value of long-lived assets and equity method investments, and (iii) income taxes.
Cash	Cash Cash represents unrestricted cash maintained in bank deposit accounts.
Accounts Receivable	Accounts Receivable-Related Party Accounts receivable-related party consist of receivables from Diamondback, or one of its affiliates. The receivable balance represents operating income less certain cash payments as of December 31, 2021 and 2020. Accounts Receivable-Third Party Accounts receivable-third party consist primarily of receivables from gathering services, sourced water and rental agreements. The customers and lessees remit payment for services performed and/or goods received directly to the Partnership. Most payments for gathering services, sourced water and rental agreements are received within two months after the date of service performed or goods delivered. Accounts receivable are stated at amounts due from customers and lessees, net of an allowance for expected losses as estimated by the Partnership when collection is deemed doubtful. Accounts receivable outstanding longer than the contractual payment terms are considered past due. The Partnership determines its allowance by considering a number of factors, including the length of time accounts receivable are past due, the Partnership’s previous loss history, the debtor’s current ability to pay its obligation to the Partnership, the condition of the general economy and the industry as a whole. The Partnership writes off specific accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for expected losses. At December 31, 2021 and 2020, the Partnership’s allowance for expected losses was immaterial.
Sourced Water Inventory	Sourced Water Inventory Sourced water inventory is stated at the lower of historical cost or net realizable value. Inventory costs are determined under the weighted-average method.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment (“PP&E”) consist of land, gathering pipelines, facilities and related equipment, which are stated at the lower of historical cost less accumulated depreciation, amortization and accretion, or fair value, if impaired. The Partnership capitalizes construction-related direct labor and material costs. Maintenance and repair costs are expensed as incurred. PP&E assets are depreciated using the straight-line method over the useful lives of the assets ranging from three to thirty years. Upon sale or retirement of depreciable property, the respective cost and related accumulated depreciation, amortization and accretion is eliminated from the balance sheet and the resulting gain or loss is recognized in the statement of operations.
Equity Method Investments	Equity Method Investments The Partnership accounts for its corporate joint ventures under the equity method of accounting in accordance with Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 323 “Investments — Equity Method and Joint Ventures.” The Partnership applies the equity method of accounting to investments of less than 50% in an investee over which the Partnership exercises significant influence but does not have control, and investments of greater than 50% in an investee over which the Partnership does not exercise significant influence or have control. Under the equity method of accounting, the Partnership’s share of the investee’s earnings or loss is recognized in the statement of operations. As of December 31, 2021, the Partnership’s proportionate share of the income or loss from equity method investments is recognized on a one-month lag for all equity method investments. Judgment regarding the level of influence over each equity method investment includes considering key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions, material intercompany transactions and extent of ownership by an investor in relation to the concentration of other shareholdings. Additionally, an investment in a limited liability company that maintains a specific ownership account for each investor shall be viewed as similar to an investment in a limited partnership for purposes of determining whether a non-controlling investment shall be accounted for using the cost method or the equity method. The Partnership reviews its investments to determine if a loss in value which is other than a temporary decline has occurred. If such a loss has occurred, the Partnership recognizes an impairment provision. See Note 7—Equity Method Investments in the notes to the consolidated financial statements in this Annual Report for further discussion of the Partnership’s equity method investments.
Real Estate Assets	Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Partnership considers the period of future benefit of each respective asset to determine the appropriate useful life and depreciation and amortization is calculated using the straight-line method over the assigned useful life. Upon acquisition of real estate properties, the purchase price is allocated to tangible assets, consisting of land and building, and to identified intangible assets and liabilities, which may include the value of above market and below market leases and the value of in-place leases. The allocation of the purchase price is based upon the fair value of each component of the property. Although independent appraisals may be used to assist in the determination of fair value, in many cases these values will be based upon management’s assessment of each property, the selling prices of comparable properties and the discounted value of cash flows from the asset. The fair values of above market and below market in-place leases will be recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) an estimate of fair market lease rates for the corresponding in-place leases measured over a period equal to the non-cancelable term of the lease including any bargain renewal periods. The above market and below market lease values will be capitalized as intangible lease assets or liabilities. Above market lease values will be amortized as an adjustment of rental income over the remaining term of the respective leases. Below market lease values will be amortized as an adjustment of rental income over the remaining term of the respective leases, including any bargain renewal periods. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market and below market in-place lease values relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases will include estimated direct costs associated with obtaining a new tenant, and opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease. Direct costs associated with obtaining a new tenant may include commissions, tenant improvements, and other direct costs and are estimated, in part, by management’s consideration of current market costs to execute a similar lease. These direct costs will be included in intangible lease assets on the balance sheet and will be amortized to expense over the remaining term of the respective leases. The value of opportunity costs will be calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. These intangibles will be included in intangible lease assets on the balance sheet and will be amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Partnership reviews its long-lived assets whenever events or circumstances indicate the carrying amount of a long-lived asset may not be recoverable. An impairment loss is recognized only if the carrying amount of a long-lived asset is not recoverable from its estimated future undiscounted cash flows. An impairment loss is the difference between the carrying amount and fair value of the asset.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Partnership’s financial instruments consist of cash, accounts receivable, other current assets, accounts payable, accrued liabilities and various other current liabilities, the revolving credit facility and Notes (as defined below). The carrying amount of cash, receivables and payables approximates fair value because of the short-term nature of the instruments. The fair value of the revolving credit facility approximates its carrying value based on the borrowing rates currently available to the Partnership for bank loans with similar terms and maturities. The fair value of the Notes are determined using quoted market prices.
Commitments and Contingencies	Commitments and Contingencies The Partnership may be a party to various legal proceedings, disputes and claims from time to time arising in the course of its business, including those that arise from interpretation of federal and state laws and regulations regarding air and water quality, hazardous and solid waste disposal and other environmental matters. The Partnership records reserves for contingencies related to outstanding legal proceedings, disputes or claims when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum amount of the range is accrued. The Partnership’s assessment is based on information known about the pending matters and its experience in contesting, litigating and settling similar matters. Actual outcomes could differ materially from the Partnership’s assessment.
Non-controlling interest	Non-controlling interestNon-controlling interest in the accompanying consolidated financial statements represents Diamondback’s ownership in the net assets of the Operating Company. When Diamondback’s relative ownership interest in the Operating Company changes, adjustments to non-controlling interest and common unitholder’s equity, tax effected, will occur. If the changes in the Holding Company’s ownership interest in the Operating Company do not result in a change of control, the transactions are accounted for as equity transactions under ASC Topic 810, “Consolidation.” This guidance requires that any differences between the carrying value of the Holding Company’s basis in the Operating Company and the fair value of the consideration received are recognized directly in equity and attributed to the controlling interest.
Revenue Recognition and Real Estate Revenue Recognition	Midstream Revenue Recognition Midstream revenues are comprised of crude oil and natural gas gathering and transportation services, produced water gathering and disposal and water sourcing and distribution services. The Partnership provides gathering and compression and water handling and treatment services under fee-based contracts based on throughput. Under these arrangements, the Partnership receives fees for gathering crude oil and natural gas, compression services, and water handling, disposal, and treatment services. The revenue the Partnership earns from these arrangements is directly related to (i) in the case of natural gas gathering and compression, the volumes of metered natural gas that the Partnership gathers, compresses, transports and delivers to other transmission delivery points, (ii) in the case of oil gathering, the volumes of metered oil that the Partnership gathers, transports and delivers to other transmission delivery points, (iii) in the case of sourced water services, the quantities of sourced water obtained, transported and delivered to the Partnership’s customers for use in their well drilling and completion operations and (iv) in the case of produced water gathering and disposal services, the quantities of produced water gathered, transported and disposed of for the Partnership’s customers. The Partnership recognizes revenue when it satisfies a performance obligation by delivering a service to a customer. The Partnership earns substantially all of its midstream revenues from commercial agreements with Diamondback and its affiliates. The following is a summary of the Partnership’s types of commercial agreements with Diamondback: •Crude Oil Gathering Agreement. Under the crude oil gathering agreements, the Partnership receives a volumetric fee per Bbl for gathering and delivering crude oil produced within the acreage subject to the acreage dedications (the “Acreage Dedications”). •Gas Gathering and Compression Agreement. Under the gas gathering and compression agreement, the Partnership received a volumetric fee per MMBtu for gathering and processing all natural gas produced by Diamondback within the Acreage Dedications. The Partnership divested substantially all of its gas gathering and compression assets in the fourth quarter of 2021 as discussed in Note 4—Acquisitions and Divestitures. •Produced and Flowback Water Gathering and Disposal Agreements. Under the produced and flowback water gathering and disposal agreements, the Partnership receives a fee for gathering or disposing of water produced from operating crude oil and natural gas wells within the Acreage Dedications. The fee is comprised of a volumetric fee per Bbl for the produced water services the Partnership provides. In addition, the Partnership retains the skim oil that is a part of the produced water. The skim oil is processed by a third party, which provides the Partnership a volumetric fee per Bbl. •Sourced Water Purchase and Services Agreements. Under the sourced water purchase and services agreements, the Partnership receives a fee for sourcing, transporting and delivering all raw sourced water and recycled sourced water required by Diamondback and third parties to carry out its oil and natural gas activities within the Acreage Dedications. The fee is comprised of a volumetric fee per Bbl for the type of sourced water services the Partnership provides. Performance Obligations For gathering crude oil and natural gas, delivering sourced water, and collecting, recycling and disposing of produced water, the Partnership’s performance obligations are satisfied over time using volumes delivered to measure progress. The Partnership records revenue related to the volumes delivered at the contract price at the time of delivery. For water sales, each unit sold is generally considered a distinct good and the related performance obligation is generally satisfied at a point in time (i.e., at the time control of the water is transferred to the customer). The Partnership recognizes revenue from the sale of water when its contracted performance obligation to deliver water is satisfied and control of the water is transferred to the customer. This usually occurs when the water is delivered to the location specified in the contract and the title and risks of rewards and ownership are transferred to the customer. Transaction Price Allocated to Remaining Performance Obligations Under its revenue agreements, each delivery generally represents a separate performance obligation; therefore, future volumes delivered are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Contract Balances Under the Partnership’s revenue agreements, the Partnership invoices customers after the Partnership’s performance obligations have been satisfied, at which point payment is unconditional. As such, the Partnership’s revenue agreements do not give rise to contract assets or liabilities. Real Estate Revenue Recognition The Partnership recognizes rental revenue from tenants on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased asset. Rental income—related party is comprised of revenues earned from lease agreements with Diamondback and its affiliates. Other real estate revenue is derived from tenants’ use of parking, telecommunications and miscellaneous services. Parking and other miscellaneous service revenue is recognized when the related services are utilized by the tenants. Tenant recoveries related to reimbursement of real estate taxes, insurance, repairs and maintenance and other operating expenses are recognized as revenue in the period the applicable expenses are incurred. The reimbursements are recognized and presented gross, as the Partnership is generally the primary obligor with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the associated credit risk.
Concentrations	Concentrations The Partnership derives substantially all of its revenue from its commercial agreements with Diamondback, which carry initial terms ending in 2034. The Partnership operates produced water disposal wells with other working interest owners. The revenues and expenses related to these disposal activities are reported on a net basis as part of revenues and costs and expenses.
Income Taxes	Income Taxes The Partnership is treated as a corporation for U.S. federal income tax purposes as a result of its election to be treated as a corporation effective May 24, 2019. Subsequent to the effective date of the Partnership’s election, it is subject to U.S. federal and state income tax at corporate rates. The Partnership uses the asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities and (ii) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future period when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. A valuation allowance is provided for deferred tax assets when it is more likely than not the deferred tax assets will not be realized.The Partnership is continuing its practice of recognizing interest and penalties related to income tax matters as interest expense and general and administrative expenses, respectively. During the year ended December 31, 2021, there was no interest or penalties associated with uncertain tax positions recognized in the Partnership’s consolidated financial statements.
Capital Contributions	Common Control Transactions A contribution or acquisition of a set of assets and related liabilities (a “set”) to the Partnership from Diamondback is analyzed to determine whether the set meets the definition of a business in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, “Business Combinations.” A contribution or acquisition of a set of assets that does not constitute a business is recognized at the date of the transfer at its carrying amount in the accounts of Diamondback in accordance with the guidance regarding transactions between entities under common control in ASC 805-50. Management then evaluates whether the asset contribution results in a change in the reporting entity, as defined in ASC Topic 250, “Accounting Changes and Error Corrections.” An asset contribution or acquisition that does not constitute a change in the reporting entity is accounted for prospectively from the date of the transfer, while an asset contribution or acquisition that constitutes a change in the reporting entity would result in retrospective application of the transaction. See Note 4—Acquisitions and Divestitures for additional discussions of common control transactions with Diamondback.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Pronouncements In December 2019, the FASB issued Accounting Standards Update (“ASU”) 2019-12, "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes." This update was intended to simplify the accounting for income taxes by removing certain exceptions and by clarifying and amending existing guidance. This update was effective for public business entities beginning after December 15, 2020 with early adoption permitted. The Partnership adopted ASU 2019-12 effective January 1, 2021 and does not believe that it has had an impact on its financial position, results of operations or liquidity. Accounting Pronouncements Not Yet Adopted There are no recent accounting pronouncements not yet adopted. The Partnership considers the applicability and impact of all ASUs. ASUs not listed above were assessed and determined to be either not applicable or clarifications of ASUs previously disclosed.
Revenue from Contracts with Customers	The Partnership generates revenues by charging fees on a per unit basis for gathering crude oil and natural gas, delivering and storing sourced water, and collecting, recycling and disposing of produced water.
Fair Value Measurements	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Partnership’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Partnership uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities. Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of accrued liabilities and accounts payable

Accrued liabilities and accounts payable consist of the following:


	As of
	December 31, 2021		December 31, 2020
	(In thousands)
Direct operating expenses accrued	$	12,978	$	18,160
Interest expense accrued	12,911		12,969
Capital expenditures accrued	5,509		5,328
Sourced water purchases accrued	7,040		3,597
Accounts payable	8,452		139
Other	1,377		2,454
Accounts payable and accrued liabilities	$	48,267	$	42,647

Schedule of accumulated other comprehensive income

The following table provides changes in the components of accumulated other comprehensive income, net of related income tax effects:


	(In thousands)
Balance as of December 31, 2020	$	(525)
Other comprehensive income (loss)	535
Balance as of December 31, 2021	$	10

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Disaggregation of revenue

In the following table, revenue from contracts with customers is disaggregated by type of service and type of fee.


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Produced water gathering and disposal	$	269,984	$	290,043	$	275,882
Sourced water gathering	68,613		68,800		115,135
Crude oil gathering	25,653		29,862		27,206
Natural gas gathering	18,827		20,479		14,317
Real estate contracts (non ASC 606 revenues)	12,950		13,692		14,229
Surface revenue (non ASC 606 revenues)	314		1,029		904
Total revenues	$	396,341	$	423,905	$	447,673

REAL ESTATE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Real Estate [Abstract]

Schedule of real estate assets and intangible lease assets

The following schedules present the cost and related accumulated depreciation or amortization (as applicable) of the Partnership’s real estate assets and intangible lease assets:


		As of December 31,
	Estimated Useful Lives	2021		2020
	(Years)	(In thousands)
Buildings	20-30	$	94,825	$	102,918
Tenant improvements	5-15	4,506		4,506
Land	N/A	964		2,437
Land improvements	5-15	531		484
Total real estate assets		100,826		110,345
Less: accumulated depreciation		(16,217)		(13,658)
Total investment in real estate, net		$	84,609	$	96,687


		As of December 31,
	Weighted Average Useful Lives	2021		2020
	(Months)	(In thousands)
In-place lease intangibles	45	$	11,645	$	11,405
Less: accumulated amortization		(9,520)		(8,980)
In-place lease intangibles, net		2,125		2,425

Above-market lease intangibles	45	3,623		3,623
Less: accumulated amortization		(2,098)		(1,786)
Above-market lease intangibles, net		1,525		1,837
Total intangible lease assets, net		$	3,650	$	4,262

Schedule of amortization expense

The following table presents the Partnership’s estimated amortization expense related to lease intangibles for the periods indicated (in thousands):



2022		2023		2024		2025		2026		Thereafter
$	564	$	766	$	940	$	1,014	$	354	$	12

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

The following table sets forth the Partnership’s property, plant and equipment:


		As of December 31,
	Estimated Useful Lives	2021		2020
	(Years)	(In thousands)
Produced water disposal systems	10-30	$	766,052	$	654,545
Crude oil gathering systems(1)	30	135,869		133,998
Natural gas gathering and compression systems(1)	10-30	6,192		112,072
Sourced water gathering systems(1)	30	166,549		112,162
Other	3	743		—
Total property, plant and equipment		1,075,405		1,012,777
Less: accumulated depreciation, amortization and accretion		(121,507)		(100,728)
Land	N/A	98,645		85,826
Total property, plant and equipment, net		$	1,052,543	$	997,875

EQUITY METHOD INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Schedule of equity method investments

The following table presents the carrying values of the Partnership’s equity method investments as of the dates indicated:


	Ownership Interest		December 31, 2021		December 31, 2020
			(In thousands)
EPIC Crude Holdings, LP(1)	10	%	$	107,210	$	120,863
Gray Oak Pipeline, LLC(2)	10	%	121,105		130,353
Wink to Webster Pipeline LLC(3)	4	%	86,207		82,631
OMOG JV LLC(4)	60	%	187,809		193,726
Amarillo Rattler, LLC (5)	—	%	—		5,354
Remuda Midstream Holdings LLC(6)	25	%	110,143		—
BANGL, LLC(7)	—	%	67		—
Total			$	612,541	$	532,927

(4)OMOG JV LLC (“OMOG”) owns and operates a crude oil gathering system in the Permian Basin.


	Year Ended December 31,
	2021		2020
	(In thousands)

Gray Oak Pipeline, LLC	$	25,435	$	23,298

OMOG JV LLC	18,411		16,469

Total	$	43,846	$	39,767

The following summarizes the income (loss) of equity method investees reflected in the Consolidated Statement of Operations for the periods indicated:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
EPIC Crude Holdings, LP	$	(15,713)	$	(8,761)	$	(6,597)
Gray Oak Pipeline, LLC	16,187		9,911		831
Wink to Webster Pipeline LLC	(3,441)		(1,655)		(539)
OMOG JV LLC	12,493		(8,950)		(24)
Amarillo Rattler, LLC	(388)		(426)		—
Remuda Midstream Holdings LLC	5,641		—		$	—
Total	$	14,779	$	(9,881)	$	(6,329)

The following tables set forth summarized financial information of the Partnership’s equity method investments for the periods indicated:


	As of December 31,
	2021		2020
Balance Sheet	(In thousands)
Current assets	$	760,912	$	435,903
Property, plant and equipment	7,726,881		7,041,573
Other assets	151,211		158,861
Total assets	8,639,004		7,636,337
Current liabilities	578,106		243,884
Other liabilities	2,796,189		2,586,449
Member's Equity	5,264,709		4,806,004
Total liabilities and member's equity	$	8,639,004	$	7,636,337


	Year Ended December 31,
	2021		2020
Income Statement	(In thousands)
Revenue	$	1,130,785	$	444,869
Operating expenses	$	433,444	$	378,209
Net income (loss)	$	(4,179)	$	(36,694)

DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consisted of the following as of the dates indicated:


	As of December 31,
	2021		2020
	(In thousands)
5.625% unsecured Senior Notes due 2025(1)	$	500,000	$	500,000
Operating Company revolving credit facility	195,000		79,000
Unamortized debt issuance costs	(7,044)		(9,053)
Total long-term debt	$	687,956	$	569,947

(1)Interest on the Notes is payable on January 15 and July 15 of each year, beginning on January 15, 2021. The Notes mature on July 15, 2025.

Schedule of financial covenants

The Credit Agreement contains various affirmative and negative covenants and also contains financial maintenance covenants that require the maintenance of the financial ratios described below:


Financial Covenant						Required Ratio
Consolidated Total Leverage Ratio						Not greater than 5.00 to 1.00 (or not greater than 5.50 to 1.00 for 3 fiscal quarters following certain acquisitions), but if the Financial Covenant Election (as defined in the Credit Agreement) is made, then not greater than 5.25 to 1.00)
Consolidated Senior Secured Leverage Ratio commencing with the last day of any fiscal quarter in which the Financial Covenant Election (as defined in the Credit Agreement) is made						Not greater than 3.50 to 1.00
Consolidated Interest Coverage Ratio (as defined in the Credit Agreement)						Not less than 2.50 to 1.00

UNIT-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of nonvested share activity

The following table presents the phantom unit activity under the LTIP for the year ended December 31, 2021:


	Phantom Units	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2020	2,089,668	$	17.07
Granted	259,916	$	11.07
Vested	(571,341)	$	16.34
Forfeited	(40,718)	$	7.28
Unvested at December 31, 2021	1,737,525	$	16.64

UNITHOLDERS’ EQUITY AND DISTRIBUTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of change in ownership interest

The following table summarizes changes in the ownership interest in consolidated subsidiaries during the period:


	Year Ended December 31,
		2021		2020		2019
		(In thousands)
Net income (loss) attributable to the Partnership		$	36,780	$	34,691	$	28,802

Change in ownership of consolidated subsidiaries		6,032		(330,924)		—




Change from net income (loss) attributable to the Partnership's unitholders and transfers to non-controlling interest		$	42,812	$	(296,233)	$	28,802

Schedule of cash distributions

The following table presents cash distributions approved by the board of directors of the General Partner for the periods presented:


		Distributions
		(in thousands)
Period	Amount per Unit	Operating Company Distributions to Diamondback		Common Unitholders		Declaration Date	Unitholder Record Date	Payment Date

Q3 2019	$0.34	$	36,657	$	14,858	October 31, 2019	November 15, 2019	November 22, 2019
Q4 2019	$0.29	$	31,266	$	12,673	February 13, 2020	March 3, 2020	March 10, 2020
Q1 2020	$0.29	$	31,267	$	12,673	April 30, 2020	May 18, 2020	May 26, 2020
Q2 2020	$0.29	$	31,267	$	12,758	July 31, 2020	August 17, 2020	August 24, 2020
Q3 2020	$0.20	$	21,562	$	8,802	October 29, 2020	November 16, 2020	November 23, 2020
Q4 2020	$0.20	$	21,563	$	8,263	February 17, 2021	March 8, 2021	March 15, 2021
Q1 2021	$0.20	$	21,563	$	8,183	April 28, 2021	May 14, 2021	May 21, 2021
Q2 2021	$0.25	$	26,954	$	10,154	August 2, 2021	August 16, 2021	August 23, 2021
Q3 2021	$0.25	$	27,412	$	9,940	October 27, 2021	November 15, 2021	November 22, 2021

EARNINGS PER COMMON UNIT (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of basic and diluted net income per common unit


	Year Ended December 31,				May 28, 2019 to December 31, 2019
	2021		2020
	(In thousands, except per unit amounts)
Net income (loss) attributable to Rattler Midstream LP	$	36,780	$	34,691	$	28,802
Less: net income allocated to participating securities(1)	(1,769)		(2,238)		(751)
Net income attributable to common unitholders	35,011		32,453		28,051
Weighted average common units outstanding:
Basic weighted average common units outstanding	40,682		43,739		43,622
Effect of dilutive securities:
Potential common units issuable(2)	—		—		—
Diluted weighted average common units outstanding	40,682		43,739		43,622
Net income per common unit, basic	$	0.86	$	0.74	$	0.64
Net income per common unit, diluted	$	0.86	$	0.74	$	0.64

(1) Distribution equivalent rights granted to employees are considered participating securities.

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of related party transactions

Revenues generated from commercial agreements with Diamondback consist of the following:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Produced water gathering and disposal	$	263,833	$	281,106	$	271,634
Sourced water gathering	65,503		67,336		112,748
Natural gas gathering	18,827		20,479		14,317
Crude oil gathering	8,104		10,006		9,864
Surface revenue	231		162		557
Total	$	356,498	$	379,089	$	409,120

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

The components of the provision for income taxes from continuing operations for the years ended December 31, 2021, 2020 and 2019 are as follows:


	Year Ended December 31,
	2021		2020		2019 Subsequent to IPO		2019 Prior to IPO
							Predecessor
Current income tax provision:	(In thousands)
Federal	$	1,037	$	—	$	—	$	7,694
State	281		206		189		270
Total current income tax provision	1,318		206		189		7,964
Deferred income tax provision:
Federal	8,600		9,648		7,600		9,983
State	612		375		282		235
Total deferred income tax provision	9,212		10,023		7,882		10,218
Total provision for income taxes	$	10,530	$	10,229	$	8,071	$	18,182

Schedule of statutory federal income tax amount to the recorded expense

A reconciliation of the statutory federal income tax amount from continuing operations to the recorded expense is as follows:


	Year Ended December 31,
	2021		2020		2019 Subsequent to IPO		2019 Prior to IPO
							Predecessor
	(In thousands)
Income tax expense at the federal statutory rate (21%)	$	36,603	$	32,536	$	26,679	$	17,677
Impact of nontaxable non-controlling interest	(26,668)		(23,103)		(18,982)		—
State income tax expense, net of federal tax effect	418		458		372		505

Other, net	177		338		2		—
Provision for income taxes	$	10,530	$	10,229	$	8,071	$	18,182

Schedule of the partnership’s deferred tax assets and liabilities

The components of the deferred tax assets and liabilities as of December 31, 2021 and 2020 of the Partnership are as follows:


	Year Ended December 31,
	2021		2020
	(In thousands)
Deferred tax assets:
Net operating loss and other carryforwards (indefinite life)	$	22,771	$	15,684
Investment in the Operating Company	39,585		57,580

Total deferred tax assets	62,356		73,264
Deferred tax liabilities:
Investment in the Operating Company	—		—


Total deferred tax liabilities	—		—
Net deferred tax assets (liabilities)	$	62,356	$	73,264

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value measurement information for financial instruments measured on a nonrecurring basis

The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated balance sheets:


	December 31, 2021				December 31, 2020
	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
	(In thousands)
Debt:
5.625% Senior Notes due 2025	$	492,956	$	521,250	$	490,947	$	528,125
Operating Company revolving credit facility	195,000		195,000		79,000		79,000

(1) The carrying value includes associated deferred loan costs and any remaining discount or premium, if any.

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of minimum future payments

The following is a schedule of minimum future payments associated with this agreement as of December 31, 2021:


Year Ending December 31,	Volume Commitment Agreements
	(In thousands)
2022	$	4,563
2023	4,563
2024	4,563
2025	4,563
2026	3,650
Thereafter	29,200
Total	$	51,102

ORGANIZATION AND BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Dec. 22, 2021	May 28, 2019 USD ($) $ / shares shares	Dec. 31, 2021 segment shares	Feb. 18, 2022 shares	Dec. 31, 2020 shares
Limited Partners' Capital Account [Line Items]
Cash contribution from Diamondback		$ 1.0
Cash contribution from the general partner		1.0
Payments of distributions to affiliates		$ 726.5
General partners capital account, percentage of preferred cash distribution received		8.00%
Number of reportable segments \| segment			1
Class B Units
Limited Partners' Capital Account [Line Items]
Common units issued (in shares) \| shares		107,815,152	107,815,152		107,815,152
Units outstanding (in shares) \| shares			107,815,152	107,815,152	107,815,152
Rattler MIdstream LP
Limited Partners' Capital Account [Line Items]
General partners, ownership interest			100.00%
Limited partners, ownership interest		71.00%	74.00%
Rattler Midstream Operating LLC
Limited Partners' Capital Account [Line Items]
Limited partners, ownership interest	100.00%
Rattler Midstream Partners LLC
Limited Partners' Capital Account [Line Items]
General partners, ownership interest			26.00%
Limited partners, ownership interest			74.00%
Rattler Midstream Partners LLC \| Managing Member
Limited Partners' Capital Account [Line Items]
General partners, ownership interest			100.00%
IPO
Limited Partners' Capital Account [Line Items]
Common units issued (in shares) \| shares		43,700,000
Shares price (in dollars per share) \| $ / shares		$ 17.50
Net proceeds received from sale of common units		$ 719.4
IPO \| Rattler Midstream Partners LLC
Limited Partners' Capital Account [Line Items]
General partners, ownership interest		29.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	30 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accrued Liabilities and Accounts Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Direct operating expenses accrued	$ 12,978	$ 18,160
Interest expense accrued	12,911	12,969
Capital expenditures accrued	5,509	5,328
Sourced water purchases accrued	7,040	3,597
Accounts payable	8,452	139
Other	1,377	2,454
Accounts payable and accrued liabilities	$ 48,267	$ 42,647

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accumulated Other Comprehensive Income (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	$ 1,180,100
Other comprehensive income (loss)	535
Ending balance	1,167,319
AOCI Including Portion Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	(525)
Ending balance	$ 10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details)	12 Months Ended
	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Income tax penalties and interest expense	$ 0

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Real estate contracts (non ASC 606 revenues)	$ 12,950	$ 13,692	$ 14,229
Surface revenue (non ASC 606 revenues)	314	1,029	904
Total revenues	396,341	423,905	447,673
Produced water gathering and disposal
Disaggregation of Revenue [Line Items]
ASC 606 revenues	269,984	290,043	275,882
Sourced water gathering
Disaggregation of Revenue [Line Items]
ASC 606 revenues	68,613	68,800	115,135
Crude oil gathering
Disaggregation of Revenue [Line Items]
ASC 606 revenues	25,653	29,862	27,206
Natural gas gathering
Disaggregation of Revenue [Line Items]
ASC 606 revenues	$ 18,827	$ 20,479	$ 14,317

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

ACQUISITIONS AND DIVESTITURES (Details) a in Thousands, $ in Thousands								12 Months Ended
	Dec. 01, 2021 USD ($) a property well facility pipeline MMBbls	Nov. 01, 2021 USD ($)	Oct. 05, 2021 USD ($) MMcf / d property	Jun. 28, 2021 USD ($) property	Apr. 30, 2021 USD ($)	Dec. 31, 2020 USD ($) swdWell	Jan. 01, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business Combinations And Divestitures [Line Items]
Gain (loss) on sale of equity method investments								$ 23,020	$ 0	$ 0
Loss on disposition of assets								(4,956)	$ 729	(1,524)
Capital contribution related to equity method investments										$ 149,500
Amarillo Rattler, LLC \| Disposed of by Sale
Business Combinations And Divestitures [Line Items]
Ownership percentage in disposed asset					50.00%
Discontinued operation, consideration					$ 7,500
Discontinued operation, consideration at closing					23,500
Consideration at first anniversary of closing					10,000
Consideration over three years					$ 15,000
Consideration period					3 years
Gain (loss) on sale of equity method investments								$ 23,000
Period of continuing involvement after disposal					3 years
Amarillo Rattler, LLC \| Disposed of by Sale \| Contingent Payment Due in April 2022
Business Combinations And Divestitures [Line Items]
Discontinued operation, consideration					$ 5,000
Pecos County Gas Gathering \| Disposed of by Sale
Business Combinations And Divestitures [Line Items]
Gross potential consideration		$ 93,000
Consideration due at closing		83,000
Pecos County Gas Gathering \| Disposed of by Sale \| Contingent Payment Due in 2023
Business Combinations And Divestitures [Line Items]
Consideration payment		5,000
Pecos County Gas Gathering \| Disposed of by Sale \| Contingent Payment Due in 2024
Business Combinations And Divestitures [Line Items]
Consideration payment		$ 5,000
Disposal Wells Divestiture \| Disposed of by Sale
Business Combinations And Divestitures [Line Items]
Proceeds from sale						$ 18,700
Gain on disposal						$ 4,900
Disposal Wells Divestiture \| Disposed of by Sale \| Produced Water Disposal
Business Combinations And Divestitures [Line Items]
Number of units \| swdWell						5
Midland, Texas \| Disposed of by Sale
Business Combinations And Divestitures [Line Items]
Number of properties \| property				1
Proceeds from sale of oil and gas property				$ 9,100
Loss on disposition of assets				$ (400)
Drop Down Transaction
Business Combinations And Divestitures [Line Items]
Price of acquisition	$ 160,000
Asset acquisition, property acquired	$ 159,500
Active saltwater disposal injection wells \| well	9
Well water capacity volume \| MMBbls	330
Water recycling and storage facilities \| facility	7
Fresh water pit \| property	20
Area of land \| a	4
Produced water gathering pipeline \| pipeline	55
Sourced water gathering \| pipeline	18
WTG Joint Venture Acquisition
Business Combinations And Divestitures [Line Items]
Cash payment to acquire business			$ 104,000
Percentage acquired			25.00%
WTG Joint Venture Acquisition \| Midland Basin
Business Combinations And Divestitures [Line Items]
Gas processing Capacity \| MMcf / d			925
WTG Joint Venture Acquisition \| Midland Basin \| WTG Midstream LLC
Business Combinations And Divestitures [Line Items]
Gas processing plants \| property			6
Ajax Acquisition \| Ajax Contribution
Business Combinations And Divestitures [Line Items]
Payments to acquire real estate and real estate joint ventures							$ 21,500
Energen
Business Combinations And Divestitures [Line Items]
Asset retirement obligations, associated with assets contribution							3,000
Energen \| Energen Contribution
Business Combinations And Divestitures [Line Items]
Payments to acquire real estate and real estate joint ventures							$ 279,000

REAL ESTATE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
REAL ESTATE ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Line Items]
Buildings	$ 94,825	$ 102,918
Tenant improvements	4,506	4,506
Land	964	2,437
Land improvements	531	484
Total real estate assets	100,826	110,345
Less: accumulated depreciation	(16,217)	(13,658)
Total investment in real estate, net	84,609	96,687
Finite-lived intangibles assets, net	3,650	4,262
Depreciation and amortization expense for real estate assets	$ 4,300	8,000	$ 7,600
In-place lease intangibles
Real Estate [Line Items]
Intangible assets, weighted average useful lives (in years)	45 months
Finite-lived intangible assets, gross	$ 11,645	11,405
Less: accumulated amortization	(9,520)	(8,980)
Finite-lived intangibles assets, net	$ 2,125	2,425
Above-market lease intangibles
Real Estate [Line Items]
Intangible assets, weighted average useful lives (in years)	45 months
Finite-lived intangible assets, gross	$ 3,623	3,623
Less: accumulated amortization	(2,098)	(1,786)
Finite-lived intangibles assets, net	$ 1,525	$ 1,837
Minimum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	3 years
Maximum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Buildings \| Minimum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	20 years
Buildings \| Maximum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Tenant improvements \| Minimum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	5 years
Tenant improvements \| Maximum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	15 years
Land improvements \| Minimum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	5 years
Land improvements \| Maximum
Real Estate [Line Items]
Property and equipment estimated useful lives (in years)	15 years

REAL ESTATE ASSETS (Estimated Amortization Expense) (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Real Estate [Abstract]
2022	$ 564
2023	766
2024	940
2025	1,014
2026	354
Thereafter	$ 12

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 1,075,405	$ 1,012,777
Accumulated depreciation, amortization and accretion	(121,507)	(100,728)
Land	98,645	85,826
Property, plant and equipment, net	1,052,543	997,875
Assets not subject to depreciation, amortization and accretion	$ 13,100	27,500
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Produced water disposal systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 766,052	654,545
Produced water disposal systems \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	10 years
Produced water disposal systems \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Crude oil gathering systems
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Property, plant and equipment	$ 135,869	133,998
Natural gas gathering and compression systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 6,192	112,072
Natural gas gathering and compression systems \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	10 years
Natural gas gathering and compression systems \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Sourced water gathering systems
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	30 years
Property, plant and equipment	$ 166,549	112,162
Other
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives (in years)	3 years
Property, plant and equipment	$ 743	$ 0

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 43,600,000	$ 43,800,000	$ 33,200,000
Abandonment charges		3,400,000
Impairment charges		$ 3,371,000	$ 918,000	$ 0
Produced water gathering and disposal \| Drop Down Transaction
Property, Plant and Equipment [Line Items]
Property, plant and equipment, additions	$ 91,500,000
Sourced water gathering \| Drop Down Transaction
Property, Plant and Equipment [Line Items]
Property, plant and equipment, additions	54,500,000
Land \| Drop Down Transaction
Property, Plant and Equipment [Line Items]
Property, plant and equipment, additions	$ 12,200,000

EQUITY METHOD INVESTMENTS - Schedule of Equity Method Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 05, 2021 property
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 612,541	$ 532,927
Distributions from equity method investments	43,846	39,767
Income (loss) of equity method investees	14,779	(9,881)	$ (6,329)
BANGL LLC
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 100
WTG Midstream LLC \| WTG Joint Venture Acquisition \| Midland Basin
Schedule of Equity Method Investments [Line Items]
Gas processing plants \| property				6
Disposed of by Sale \| Amarillo Rattler, LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	50.00%
EPIC Crude Holdings, LP
Schedule of Equity Method Investments [Line Items]
Ownership Interest	10.00%
Equity method investments	$ 107,210	120,863
Income (loss) of equity method investees	$ (15,713)	(8,761)	(6,597)
Gray Oak Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	10.00%
Equity method investments	$ 121,105	130,353
Distributions from equity method investments	25,435	23,298
Income (loss) of equity method investees	$ 16,187	9,911	831
Wink to Webster Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	4.00%
Equity method investments	$ 86,207	82,631
Income (loss) of equity method investees	$ (3,441)	(1,655)	(539)
OMOG JV LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	60.00%
Equity method investments	$ 187,809	193,726
Distributions from equity method investments	18,411	16,469
Income (loss) of equity method investees	$ 12,493	(8,950)	(24)
Amarillo Rattler, LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	0.00%
Equity method investments	$ 0	5,354
Income (loss) of equity method investees	$ (388)	(426)	0
Remuda Midstream Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	25.00%
Equity method investments	$ 110,143	0
Income (loss) of equity method investees	$ 5,641	0	$ 0
BANGL LLC
Schedule of Equity Method Investments [Line Items]
Ownership Interest	0.00%
Equity method investments	$ 67	$ 0

EQUITY METHOD INVESTMENTS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 612,541,000	$ 532,927,000
Aggregate difference between the carrying amounts of these investments and the amounts of underlying equity in net assets	(3,000,000.0)	(4,000,000.0)
Impairment loss	0	0	$ 0
OMOG JV LLC
Schedule of Equity Method Investments [Line Items]
Equity method investments	187,809,000	193,726,000
Impairment loss	$ 3,500,000	$ 15,800,000

EQUITY METHOD INVESTMENTS - Summarized Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance Sheet
Current assets	$ 101,728	$ 98,267
Property, plant and equipment	1,075,405	1,012,777
Other assets	3,708	4,732
Segment assets	1,921,135	1,808,588
Current liabilities	48,949	43,448
Member's Equity	1,167,319	1,180,100	$ 1,115,840	$ 527,126
Total liabilities and unitholders’ equity	1,921,135	1,808,588
Income Statement
Total revenues	396,341	423,905	447,673
Net income (loss)	163,770	144,705	$ 185,719
Equity Method Investment
Balance Sheet
Current assets	760,912	435,903
Property, plant and equipment	7,726,881	7,041,573
Other assets	151,211	158,861
Segment assets	8,639,004	7,636,337
Current liabilities	578,106	243,884
Other liabilities	2,796,189	2,586,449
Member's Equity	5,264,709	4,806,004
Total liabilities and unitholders’ equity	8,639,004	7,636,337
Income Statement
Total revenues	1,130,785	444,869
Operating expenses	433,444	378,209
Net income (loss)	$ (4,179)	$ (36,694)

DEBT - Long Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Unamortized debt issuance costs	$ (7,044)	$ (9,053)
Total long-term debt	$ 687,956	569,947
5.625% Senior Notes Due 2025 \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate	5.625%
Long-term debt	$ 500,000	500,000
Operating Company revolving credit facility \| Line of Credit
Line of Credit Facility [Line Items]
Long-term debt	$ 195,000	$ 79,000

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

DEBT - Narrative (Details) - Operating Company revolving credit facility - Line of Credit - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 28, 2019
Line of Credit Facility [Line Items]
Long-term debt	$ 195,000,000	$ 79,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility maximum borrowing capacity				$ 600,000,000
Revolving credit facility maximum borrowing capacity, subject to commitments				$ 1,000,000,000
Long-term debt	195,000,000
Available borrowings capacity	$ 405,000,000
Weighted average interest rate	1.41%	2.10%	3.13%
Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee on the unused portion of the borrowing base	0.25%
Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee on the unused portion of the borrowing base	0.375%
Base Rate \| Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.25%
Base Rate \| Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
LIBOR \| Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
LIBOR \| Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%

DEBT - Financial Covenants (Details) - Operating Company revolving credit facility	12 Months Ended
	Dec. 31, 2021
Maximum
Line of Credit Facility [Line Items]
Consolidated total leverage ratio	5.00
Consolidated total leverage ratio, for three fiscal quarters following certain acquisitions	5.50
Consolidated total leverage ratio when consolidated senior secured leverage ration is applicable	5.25
Consolidated senior secured leverage, not greater than 3.50	3.50
Minimum
Line of Credit Facility [Line Items]
Consolidated interest coverage ratio, not less than 2.50	2.50

UNIT-BASED COMPENSATION - Narrative (Details) $ in Millions	12 Months Ended
UNIT-BASED COMPENSATION - Narrative (Details) $ in Millions	Dec. 31, 2021 USD ($) distributionRight shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	May 22, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common units reserved for issuance (in shares) \| shares	12,696,146			15,151,515
Unit-based compensation expenses \| $	$ 9.8	$ 8.9	$ 5.2
Shares converted (in shares) \| shares	1
Distribution rights per unit \| distributionRight	1
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of phantom units that vested during the year \| $	$ 9.3
Unrecognized compensation cost related to unvested phantom units \| $	$ 23.1
Unrecognized compensation cost related to unvested phantom units, period for recognition	2 years 3 months 29 days
Partnership Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares converted (in shares) \| shares	1

UNIT-BASED COMPENSATION - Phantom Units (Details) - Phantom Share Units (PSUs)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Phantom Units
Unvested beginning balance (in shares) \| shares	2,089,668
Granted (in shares) \| shares	259,916
Vested (in shares) \| shares	(571,341)
Forfeited (in shares) \| shares	(40,718)
Unvested ending balance (in shares) \| shares	1,737,525
Weighted Average Grant-Date Fair Value
Unvested beginning balance (in USD Per share) \| $ / shares	$ 17.07
Granted (in USD Per share) \| $ / shares	11.07
Vested (in USD Per share) \| $ / shares	16.34
Forfeited (in USD Per share) \| $ / shares	7.28
Unvested ending balance (in USD Per share) \| $ / shares	$ 16.64

UNITHOLDERS’ EQUITY AND DISTRIBUTIONS - Additional Information (Details) - USD ($)	7 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 18, 2022	Oct. 31, 2021	Oct. 29, 2020	May 28, 2019
Limited Partners' Capital Account [Line Items]
Shares converted (in shares)		1
Amount of shares repurchased		$ 47,591,000	$ 14,741,000
Change in ownership of consolidated subsidiaries, net		(1,663,000)	91,134,000
Non-Controlling Interest
Limited Partners' Capital Account [Line Items]
Change in ownership of consolidated subsidiaries, net		(7,695,000)	422,058,000
Limited Partners
Limited Partners' Capital Account [Line Items]
Change in ownership of consolidated subsidiaries, net	$ 0	6,032,000	(330,924,000)	$ 0
Limited Partners \| Common Units
Limited Partners' Capital Account [Line Items]
Amount of shares repurchased		47,591,000	14,741,000
Change in ownership of consolidated subsidiaries, net		$ 6,032,000	$ (330,924,000)
Rattler Midstream Partners LLC
Limited Partners' Capital Account [Line Items]
Percent of limited partnership interest		74.00%
Common Units
Limited Partners' Capital Account [Line Items]
Limited partners' capital account, units issued (in shares)		38,356,771	42,356,637
Units outstanding (in shares)		0	42,356,637
Shares issued (in shares)		1
Authorized amount in repurchase program						$ 150,000,000	$ 100,000,000
Amount of shares repurchased		$ 47,600,000
Remaining authorized repurchase amount		$ 87,700,000
Class B Units
Limited Partners' Capital Account [Line Items]
Limited partners' capital account, units issued (in shares)		107,815,152	107,815,152					107,815,152
Units outstanding (in shares)		107,815,152	107,815,152		107,815,152
Shares converted (in shares)		1

UNITHOLDERS’ EQUITY AND DISTRIBUTIONS - Ownership Interest in Subsidiary Changes (Details) - USD ($)	7 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Net income (loss) attributable to the Partnership	$ 28,802,000	$ 36,780,000	$ 34,691,000	$ 28,802,000
Change in ownership of consolidated subsidiaries		(1,663,000)	91,134,000
Limited Partners
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Net income (loss) attributable to the Partnership		36,780,000	34,691,000	28,802,000
Change in ownership of consolidated subsidiaries	$ 0	6,032,000	(330,924,000)	0
Change from net income (loss) attributable to the Partnership's unitholders and transfers to non-controlling interest		$ 42,812,000	$ (296,233,000)	$ 28,802,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

UNITHOLDERS’ EQUITY AND DISTRIBUTIONS - Schedule of Partnership Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands										12 Months Ended
	Oct. 27, 2021	Aug. 02, 2021	Apr. 28, 2021	Feb. 17, 2021	Oct. 29, 2020	Jul. 31, 2020	Apr. 30, 2020	Feb. 13, 2020	Oct. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Distribution Made to Limited Partner [Line Items]
Amount Distributed to Diamondback										$ 134,192	$ 162,428	$ 33,712
Common Units
Distribution Made to Limited Partner [Line Items]
Partners' capital, cash distribution (in USD per share)	$ 0.25	$ 0.25	$ 0.20	$ 0.20	$ 0.20	$ 0.29	$ 0.29	$ 0.29	$ 0.34
Common Units \| Cash Distribution
Distribution Made to Limited Partner [Line Items]
Amount Distributed to Diamondback	$ 9,940	$ 10,154	$ 8,183	$ 8,263	$ 8,802	$ 12,758	$ 12,673	$ 12,673	$ 14,858

EARNINGS PER COMMON UNIT (Details) - USD ($) $ / shares in Units, $ in Thousands	7 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share
Net income (loss) attributable to Rattler Midstream LP	$ 28,802	$ 36,780	$ 34,691	$ 28,802
Less: net income allocated to participating securities	(751)	(1,769)	(2,238)
Net income attributable to common unitholders	$ 28,051	$ 35,011	$ 32,453
Basic weighted average common units outstanding (in shares)	43,622,000	40,682,000	43,739,000
Effect of dilutive securities:
Potential common units issuable (in shares)	0	0	0
Diluted weighted average common units outstanding (in shares)	43,622,000	40,682,000	43,739,000
Net income per common unit, basic (in USD per share)		$ 0.86	$ 0.74	$ 0.64
Net income per common unit, diluted (in USD per share)		$ 0.86	$ 0.74	$ 0.64
Potential common units issuable (in shares)		0	0	0

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Revenue from related parties	$ 356,498	$ 379,089	$ 409,120
Produced water gathering and disposal
Related Party Transaction [Line Items]
Revenue from related parties	263,833	281,106	271,634
Sourced water gathering
Related Party Transaction [Line Items]
Revenue from related parties	65,503	67,336	112,748
Natural gas gathering
Related Party Transaction [Line Items]
Revenue from related parties	18,827	20,479	14,317
Crude oil gathering
Related Party Transaction [Line Items]
Revenue from related parties	8,104	10,006	9,864
Surface revenue
Related Party Transaction [Line Items]
Revenue from related parties	$ 231	$ 162	$ 557

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

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-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 01, 2021	May 27, 2019	Jan. 01, 2019
Related Party Transaction [Line Items]
Property, plant and equipment, net	$ 1,052,543	$ 997,875
Drop Down Transaction
Related Party Transaction [Line Items]
Asset acquisition, property acquired				$ 159,500
General Partner \| Asset Contribution Agreement
Related Party Transaction [Line Items]
Property, plant and equipment, net						$ 297,600
Asset retirement obligation						$ 3,300
General Partner \| Equity Contribution Agreement
Related Party Transaction [Line Items]
Number of units exchanged (in shares)					38,000,000
General Partner \| Fasken Center Agreements
Related Party Transaction [Line Items]
Related party transaction amount	8,900	7,800	$ 5,200
General Partner \| Services and Secondment Agreement
Related Party Transaction [Line Items]
Payment under Services and Secondment Agreement	$ 7,700	$ 5,900	$ 5,100

INCOME TAXES - Narrative (Details) - USD ($)		5 Months Ended	7 Months Ended		12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	May 28, 2019	May 27, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Elimination of current and deferred tax liabilities	$ 31,100,000						$ 31,094,000
Income tax expense		$ 18,182,000	$ 8,071,000	$ 8,100,000	$ 10,530,000	$ 10,229,000	$ 26,253,000
Net deferred tax liabilities					62,400,000	73,300,000
Federal NOLs with indefinite carryforward life					108,400,000
State income tax expense		$ 270,000	$ 189,000		281,000	$ 206,000
Unrecognized tax benefits material impact on the effective tax rate					0
Income tax penalties and interest expense					$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended		12 Months Ended
	May 27, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current income tax provision:
Federal	$ 7,694	$ 0		$ 1,037	$ 0
State	270	189		281	206
Total current income tax provision	7,964	189		1,318	206
Deferred income tax provision:
Federal	9,983	7,600		8,600	9,648
State	235	282		612	375
Total deferred income tax provision	10,218	7,882		9,212	10,023	$ 26,253
Total provision for income taxes	$ 18,182	$ 8,071	$ 8,100	$ 10,530	$ 10,229	$ 26,253

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Reconciliation of Statutory Federal Income Tax Amount to Recorded Expense (Details) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended		12 Months Ended
	May 27, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense at the federal statutory rate (21%)	$ 17,677	$ 26,679		$ 36,603	$ 32,536
Impact of nontaxable non-controlling interest	0	(18,982)		(26,668)	(23,103)
State income tax expense, net of federal tax effect	505	372		418	458
Other, net	0	2		177	338
Total provision for income taxes	$ 18,182	$ 8,071	$ 8,100	$ 10,530	$ 10,229	$ 26,253

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss and other carryforwards (indefinite life)	$ 22,771	$ 15,684
Investment in the Operating Company	39,585	57,580
Total deferred tax assets	62,356	73,264
Deferred tax liabilities:
Investment in the Operating Company	0	0
Total deferred tax liabilities	0	0
Net deferred tax assets (liabilities)	$ 62,356	$ 73,264

FAIR VALUE MEASUREMENTS - Nonrecurring Measurements (Details) - Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Carrying Value \| 5.625% Senior Notes Due 2025
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
5.625% Senior Notes due 2025	$ 492,956	$ 490,947
Carrying Value \| Operating Company revolving credit facility
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Operating Company revolving credit facility	195,000	79,000
Fair Value \| 5.625% Senior Notes Due 2025
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
5.625% Senior Notes due 2025	521,250	528,125
Fair Value \| Operating Company revolving credit facility
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Operating Company revolving credit facility	$ 195,000	$ 79,000

COMMITMENTS AND CONTINGENCIES - Minimum Future Payments with Commitments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Volume Commitment Agreements
Other Commitments [Line Items]
2022	$ 4,563
2023	4,563
2024	4,563
2025	4,563
2026	3,650
Thereafter	29,200
Total	51,102
Equity Method Investments
Other Commitments [Line Items]
2022	11,000
2023	17,200
Total	$ 28,200

SUBSEQUENT EVENTS (Details) - Subsequent Event $ / shares in Units, $ in Millions	Feb. 16, 2022 $ / shares	Jan. 19, 2022 USD ($) bbl
BANGL Joint Venture Acquisition
Subsequent Event [Line Items]
Cash payment to acquire business \| $		$ 22.2
Percentage acquired		10.00%
Expansion capacity \| bbl		300,000
Cash Distribution
Subsequent Event [Line Items]
Cash distribution, amount per Common Unit (in USD per share) \| $ / shares	$ 0.30