REVENUE (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

The following is a summary of revenues disaggregated by segment:


	Three Months Ended
	March 31,
	2026		2025
	(millions)
Pipeline (a)	$	185	$	169
Gathering	156		134
Elimination of inter-segment revenue	(5)		—
Total Operating revenues	$	336	$	303

__________________________________

(a) Includes revenues outside the scope of ASC 606 primarily related to contracts accounted for as leases of $19 million and $21 million for the three months ended March 31, 2026 and 2025, respectively.

Summary of Contact Liability Activity

The following is a summary of contract liability activity:


	2026
	(millions)
Balance as of January 1	$	185
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	10
Revenue recognized that was included in the balance at the beginning of the period	(9)

Balance as of March 31	$	186

Revenue Expected to be Recognized in Future Periods

The following table presents contract liability amounts as of March 31, 2026 that are expected to be recognized as revenue in future periods:


	(millions)
Remainder of 2026	$	18
2027	23
2028	22
2029	22
2030	21
2031 and thereafter	80
Total	$	186

The following table presents revenue amounts related to fixed consideration associated with unsatisfied performance obligations as of March 31, 2026 that are expected to be recognized as revenue in future periods:


	(millions)
Remainder of 2026	$	195
2027	234
2028	188
2029	157
2030	132
2031 and thereafter	374
Total	$	1,280