Permian Resources Corp - 10-Q filing on 2019-11-04

Transactions with Related Parties

9 Months Ended

Sep. 30, 2019

Note 10—Transactions with Related Parties

Riverstone and its affiliates beneficially own more than 10% equity interest in the Company and are therefore considered related parties. The Company has a marketing agreement with Lucid Energy Delaware, LLC (“Lucid”), an affiliate of Riverstone. The Company believes that the terms of the marketing agreement with Lucid are no less favorable to either party than those held with unaffiliated parties. The following table summarizes the revenues recognized and the associated processing fees incurred from this marketing agreement as presented in the Consolidated Statements of Operations for the periods indicated as well as the related net receivables outstanding as of the balance sheet dates:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(in thousands)	2019		2018		2019		2018
Oil and gas sales	$	715	$	1,300	$	2,511	$	1,745
Gathering, processing and transportation expenses	793		183		1,719		273



(in thousands)	September 30, 2019		December 31, 2018
Accounts receivable, net⁽¹⁾	$	192	$	325

⁽¹⁾The receivables are presented net of unpaid processing fees incurred as of the indicated period end date.