Quarterly report pursuant to Section 13 or 15(d)

TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)

v3.22.2
TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022:
Contract Liability(1)
June 30, 2022 December 31, 2021
Beginning Balance January 1 $ 5,339,364  $ 6,104,979 
Unrecognized Performance Obligations 1,053,023  199,405 
Recognized Performance Obligations (292,737) (965,020)
Ending Balance $ 6,099,650  $ 5,339,364 
(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, 2022 and 2021:
For the Three Months Ended For the Six Months Ended
June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021
Crude oil transportation revenue $ 22,582,970  80.3  % $ 22,955,068 81.7  % $ 46,712,334  80.7  % $ 38,559,294  78.3  %
Natural gas transportation revenue 4,077,445  14.5  % 3,620,569  12.9  % 8,138,721  14.1  % 7,426,793  14.9  %
Natural gas distribution revenue 1,236,261  4.4  % 1,185,375  4.2  % 2,434,166  4.2  % 2,384,188  4.8  %
Other 216,158  0.8  % 339,331  1.2  % 588,967  1.0  % 1,025,207  2.0  %
Total $ 28,112,834  100.0  % 28,100,343  100.0  % 57,874,188  100.0  % 49,395,482  100.0  %