Annual report pursuant to Section 13 and 15(d)

TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)

v3.23.1
TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Summary of Contract Liability Balance
The table below summarizes the Company's contract liability balance related to its transportation and distribution revenue contracts as of December 31, 2022 and 2021:
Contract Liability(1)
December 31, 2022 December 31, 2021
Beginning Balance January 1 $ 5,339,364  $ 6,104,979 
Unrecognized Performance Obligations 1,175,824  199,405 
Recognized Performance Obligations (587,315) (965,020)
Ending Balance December 31 $ 5,927,873  $ 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 years ended December 31, 2022, 2021 and 2020:
For the Years Ended December 31,
2022 2021 2020
Crude oil transportation revenue $ 100,351,627  82.2  % $ 94,935,160  81.5  % $ —  —  %
Natural gas transportation contracts 15,415,891  12.6  % 15,222,145  13.1  % 12,840,795  64.3  %
Natural gas distribution contracts 4,899,750  4.0  % 4,785,548  4.1  % 4,782,284  23.9  %
Other 1,341,500  1.2  % 1,593,759  1.3  % 2,349,272  11.8  %
Total $ 122,008,768  100.0  % $ 116,536,612  100.0  % $ 19,972,351  100.0  %