| Schedule of Contract with Customer, Asset and Liability |
The table below summarizes the Company's contract liability balance related to its transportation and distribution revenue contracts:
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Contract Liability(1)
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September 30, 2023 |
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December 31, 2022 |
| Beginning Balance January 1 |
$ |
5,927,873 |
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$ |
5,339,364 |
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| Unrecognized Performance Obligations |
294,997 |
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1,175,824 |
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| Recognized Performance Obligations |
(664,782) |
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(587,315) |
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Ending Balance (2)
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$ |
5,558,088 |
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$ |
5,927,873 |
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(1) As of September 30, 2023, the contract liability balance is included in unearned revenue (Crimson portion) and liabilities held-for-sale (MoGas and Omega portion) in the Consolidated Balance Sheets. As of December 31, 2022, the contract liability balance was included in unearned revenue in the Consolidated Balance Sheets. |
(2) As of September 30, 2023, the contract liability balance for MoGas and Omega was $5.1 million and is recorded in liabilities held-for-sale on the Consolidated Balance Sheets. |
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| Schedule of Concentration of Risk |
The following is a breakout of the Company's transportation and distribution revenue for the three and nine months ended September 30, 2023 and 2022:
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For the Three Months Ended |
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For the Nine Months Ended |
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September 30, 2023 |
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September 30, 2022 |
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September 30, 2023 |
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September 30, 2022 |
| Crude oil transportation revenue |
$ |
23,259,963 |
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81 |
% |
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$ |
26,099,075 |
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84 |
% |
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$ |
70,332,482 |
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81 |
% |
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$ |
73,201,850 |
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82 |
% |
| Natural gas transportation revenue |
3,594,334 |
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12 |
% |
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3,572,522 |
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11 |
% |
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10,943,272 |
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13 |
% |
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11,711,243 |
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13 |
% |
| Natural gas distribution revenue |
1,269,927 |
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4 |
% |
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1,229,040 |
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4 |
% |
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3,780,008 |
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4 |
% |
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3,663,206 |
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4 |
% |
| Other |
738,315 |
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3 |
% |
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372,856 |
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1 |
% |
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1,586,524 |
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2 |
% |
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961,822 |
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1 |
% |
| Total |
$ |
28,862,539 |
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100 |
% |
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$ |
31,273,493 |
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100 |
% |
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$ |
86,642,286 |
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100 |
% |
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$ |
89,538,121 |
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100 |
% |
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