Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
|
New words:
advisory, allegedly, assert, assumption, attempt, attention, battery, behavior, breach, breaching, brought, caliche, cease, challenge, Code, combat, concentrated, concentration, consent, conservation, consumer, consummation, consumption, contrary, converted, court, create, creating, damage, deal, declared, defendant, defending, defense, delay, deregistered, detail, director, distract, distraction, diversified, divert, diverted, downstream, drought, electric, electrical, enactment, enforcement, enjoin, entity, event, Extreme, failure, fastest, favor, fully, geographic, geothermal, guaranteed, heading, hurricane, inflationary, insignificant, investor, IRS, lawsuit, likewise, lobbying, Louisiana, magnify, mailing, manufactured, merged, merger, merit, nuclear, oilfield, onsite, outcome, par, pit, portfolio, power, powered, prevent, printing, proceed, proceeding, prominent, promptly, pronounced, proxy, pursuit, qualify, recession, recommendation, refuse, Registration, regulation, reimburse, relevant, relief, renewable, reorganization, repair, reputational, request, residential, resolution, resolve, resolved, sector, shareholder, shut, single, solar, specific, subsequent, subsequently, surviving, transition, treatment, turn, unanimously, uncured, unexpected, unfavorable, variable, voting, vulnerable, waived, wind
Removed:
arise, beginning, chain, interpretation, quality, recovery, solid, waste
Financial report summary
?Competition
Tallgrass EnergyRisks
- The ongoing COVID-19 pandemic continues to present operational, health, labor, logistics and other challenges, and it is difficult to assess the ultimate impact of the COVID-19 pandemic on our business, financial condition and cash flows.
- Our exposure to commodity price risk may change over time and we cannot guarantee the terms of any existing or future agreements for our midstream services with our customers.
- We may not have sufficient cash to pay any quarterly distribution on our common units and, regardless of whether we have sufficient cash, we may choose not to pay any quarterly distribution on our common units.
- We own interests in certain pipeline projects and other joint ventures, and we may in the future enter into additional joint ventures, and our control of such entities is limited by provisions of the limited partnership and limited liability company agreements of such entities and by our percentage ownership in such entities.
- Acreage Dedications may be lost as a result of title defects in the properties in which Diamondback invests.
- We may not own in fee the land on which our pipelines and facilities are located, which could result in disruptions to our operations.
- Our midstream assets are currently located exclusively in the Permian Basin in Texas, making us vulnerable to risks associated with operating in a single geographic area.
- Oil and natural gas producers’ operations, especially those using hydraulic fracturing, are substantially dependent on the availability of water. Restrictions on our ability to obtain water could reduce demand for our water services, which could have an adverse effect on our cash flow.
- If third-party pipelines or other facilities interconnected, or expected to be interconnected, to our midstream systems become partially or fully unavailable, or if the volumes we gather or treat do not meet the quality requirements of such pipelines or facilities, our business, financial condition, results of operations, cash flow and ability to make distributions to our common unitholders could be adversely affected.
- Increased competition from other companies that provide midstream services, or from alternative fuel sources, could have a negative impact on the demand for our services, which could adversely affect our financial results.
- Our construction of new midstream assets or the acquisitions of assets or businesses may not result in revenue increases and may be subject to regulatory, environmental, political, contractual, legal and economic risks, which could adversely affect our cash flow, results of operations and financial condition and, as a result, our ability to distribute cash to unitholders.
- Changes in environmental laws could increase our or our operators’ costs and adversely impact our business, financial condition and cash flows.
- A shortage of equipment and skilled labor could reduce equipment availability and labor productivity and increase labor and equipment costs, which could have a material adverse effect on our business and results of operations.
- The loss of key personnel could adversely affect our ability to operate.
- Neither we, the Operating Company nor our General Partner has any employees, and we rely solely on the employees of Diamondback to manage our business. The management team of Diamondback, which includes the individuals who manage us, also perform similar services for Diamondback and certain of its affiliates, and thus are not solely focused on our business.
- In the future we may face increased obligations relating to the closing of our produced water facilities and may be required to provide an increased level of financial assurance to guaranty the appropriate closure activities occur for a produced water facility.
- A terrorist attack or armed conflict could harm our business.
- A cyber incident could result in information theft, data corruption, operational disruption and/or financial loss.
- If we are deemed an “investment company” under the Investment Company Act of 1940, it could have a material adverse effect on our business and the price of our common units.
- We have in the past incurred, and we expect in the future to continue to incur, borrowings under the Operating Company’s revolving credit facility. Unless we are able to repay borrowings under the revolving credit facility with cash flow from operations or other sources, including proceeds from equity and debt offerings, implementing our capital programs may require an increase in our total leverage through additional debt issuances. In addition, a reduction in availability under the revolving credit facility and the inability to otherwise obtain financing for our capital programs could require us to curtail our capital expenditures.
- Increases in interest rates could adversely affect our business.
- Diamondback owns and controls our General Partner, which has sole responsibility for conducting our business and managing our operations. Our General Partner and its affiliates, including Diamondback, have conflicts of interest with us and limited duties, and they may favor their own interests to the detriment of us and our common unitholders.
- Our General Partner may exercise its right to call and purchase common units if it and its affiliates own more than 80% of the common units and Class B units, taken together and such right may be exercised at an undesirable time or price.
- Holders of our common units have limited voting rights and are not entitled to elect our General Partner or its directors, or remove our General Partner without its consent, even if they are dissatisfied.
- Our General Partner interest or the control of our General Partner may be transferred to a third party without unitholder consent.
- Common unitholders may have liability to repay distributions and in certain circumstances may be personally liable for our obligations.
- Our General Partner may amend our partnership agreement, as it determines necessary or advisable, to permit the General Partner to redeem the units of certain unitholders.
- The market price of our common units could be adversely affected by sales of substantial amounts of our common units in the public or private markets.
- For as long as we are an emerging growth company, we are not required to comply with certain disclosure requirements, including those relating to accounting standards and disclosure about our executive compensation and internal control auditing requirements that apply to other public companies.
- Nasdaq does not require a publicly traded limited partnership like us to comply with certain of its corporate governance requirements.
- We are treated as a corporation for U.S. federal income tax purposes and our cash available for distribution to our common unitholders may be substantially reduced.
- Distributions to common unitholders may be taxable as dividends.