Quarterly report pursuant to Section 13 or 15(d)

Transportation and Distribution Revenue (Tables)

v3.21.2
Transportation and Distribution Revenue (Tables)
6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Asset and Liability
The table below summarizes the Company's contract liability balance related to its transportation and distribution revenue contracts as of June 30, 2021:
Contract Liability(1)
June 30, 2021 December 31, 2020
Beginning Balance January 1 $ 6,104,979  $ 6,850,790 
Unrecognized Performance Obligations 315,000  347,811 
Recognized Performance Obligations (292,756) (1,093,622)
Ending Balance $ 6,127,223  $ 6,104,979 
(1) The contract liability balance is included in unearned revenue in the Consolidated Balance Sheets.
Schedules of Concentration of Risk
The following is a breakout of the Company's transportation and distribution revenue for the three and six months ended June 30, 2021 and 2020:
For the Three Months Ended For the Six Months Ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
Crude oil transportation revenue 81.7  % —  % 78.3  % —  %
Natural gas transportation revenue 12.9  % 68.0  % 14.9  % 68.4  %
Natural gas distribution revenue 4.2  % 27.2  % 4.8  % 25.0  %