Quarterly report pursuant to Section 13 or 15(d)

TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)

v3.22.2.2
TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
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 as of September 30, 2022:
Contract Liability(1)
September 30, 2022 December 31, 2021
Beginning Balance January 1 $ 5,339,364  $ 6,104,979 
Unrecognized Performance Obligations 1,069,891  199,405 
Recognized Performance Obligations (439,106) (965,020)
Ending Balance $ 5,970,149  $ 5,339,364 
(1) The contract liability balance is included in unearned revenue in the Consolidated Balance Sheets.
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, 2022 and 2021:
For the Three Months Ended For the Nine Months Ended
September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021
Crude oil transportation revenue $ 26,131,128  83.5  % $ 29,003,931 84.6  % $ 72,843,463  81.7  % $ 67,563,225  80.7  %
Natural gas transportation revenue 3,572,522  11.4  % 3,903,675  11.4  % 11,711,243  13.1  % 11,330,467  13.5  %
Natural gas distribution revenue 1,229,040  3.9  % 1,197,954  3.5  % 3,663,206  4.1  % 3,582,142  4.3  %
Other 372,856  1.2  % 180,834  0.5  % 961,822  1.1  % 1,206,042  1.5  %
Total $ 31,305,546  100.0  % $ 34,286,394  100.0  % $ 89,179,734  100.0  % $ 83,681,876  100.0  %