| Schedule of equity method investments |
Investments accounted for by the equity method consist of the following as of September 30, 2018 and December 31, 2017:
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Carrying value |
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(Income) loss from equity method investments
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Approximate ownership % |
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September 30, 2018 |
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December 31, 2017 |
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Three months ended September 30, |
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Nine months ended September 30, |
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2018 |
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2017 |
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2018 |
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2017 |
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(In thousands) |
Investment in Tatex Thailand II, LLC |
23.5 |
% |
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$ |
— |
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$ |
— |
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$ |
(137 |
) |
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$ |
(95 |
) |
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$ |
(241 |
) |
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$ |
(549 |
) |
Investment in Grizzly Oil Sands ULC |
24.9999 |
% |
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53,381 |
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57,641 |
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275 |
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296 |
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833 |
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869 |
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Investment in Timber Wolf Terminals LLC |
50.0 |
% |
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— |
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983 |
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— |
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4 |
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536 |
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8 |
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Investment in Windsor Midstream LLC |
22.5 |
% |
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39 |
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30 |
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— |
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(2 |
) |
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(9 |
) |
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25,232 |
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Investment in Stingray Cementing LLC(1)
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— |
% |
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— |
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— |
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— |
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— |
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— |
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205 |
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Investment in Stingray Energy Services LLC(1)
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— |
% |
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— |
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— |
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— |
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— |
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— |
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282 |
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Investment in Sturgeon Acquisitions LLC(1)
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— |
% |
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— |
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— |
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— |
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— |
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— |
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(71 |
) |
Investment in Mammoth Energy Services, Inc.(1)
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22.0 |
% |
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179,109 |
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165,715 |
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(12,996 |
) |
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2,407 |
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(35,708 |
) |
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4,907 |
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Investment in Strike Force Midstream LLC(2)
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— |
% |
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— |
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77,743 |
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— |
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127 |
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(693 |
) |
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2,585 |
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$ |
232,529 |
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$ |
302,112 |
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$ |
(12,858 |
) |
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$ |
2,737 |
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$ |
(35,282 |
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$ |
33,468 |
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(1) |
On June 5, 2017, Mammoth Energy Services, Inc. ("Mammoth Energy") acquired Stingray Cementing LLC, Stingray Energy Services LLC and Sturgeon Acquisitions LLC. See below under Mammoth Energy Partners LP/Mammoth Energy Services, Inc. for information regarding these transactions.
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(2) |
On May 1, 2018, the Company sold its 25% interest in Strike Force Midstream to EQT Midstream Partners, LP. See below under under Strike Force Midstream LLC for information regarding this transaction.
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| Summary of equity investments - balance sheet |
The tables below summarize financial information for the Company’s equity investments as of September 30, 2018 and December 31, 2017.
Summarized balance sheet information:
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September 30, 2018 |
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December 31, 2017 |
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(In thousands) |
Current assets |
$ |
481,394 |
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$ |
415,032 |
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Noncurrent assets |
$ |
1,336,604 |
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$ |
1,542,090 |
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Current liabilities |
$ |
358,177 |
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$ |
261,086 |
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Noncurrent liabilities |
$ |
48,328 |
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$ |
148,839 |
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| Summary of equity investments - income statement |
Summarized results of operations:
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Three months ended September 30, |
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Nine months ended September 30, |
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2018 |
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2017 |
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2018 |
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2017 |
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(In thousands) |
Gross revenue |
$ |
384,043 |
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$ |
160,950 |
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$ |
1,451,580 |
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$ |
357,901 |
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Net income (loss) |
$ |
68,414 |
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$ |
2,101 |
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$ |
181,884 |
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$ |
(109,651 |
) |
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