Quarterly report pursuant to Section 13 or 15(d)

TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)

v3.23.1
TRANSPORTATION AND DISTRIBUTION REVENUE (Tables)
3 Months Ended
Mar. 31, 2023
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:
Contract Liability(1)
March 31, 2023 December 31, 2022
Beginning Balance January 1 $ 5,927,873  $ 5,339,364 
Unrecognized Performance Obligations 687,319  1,175,824 
Recognized Performance Obligations (174,077) (587,315)
Ending Balance $ 6,441,115  $ 5,927,873 
(1) As of March 31, 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, the contract liability balance was 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 months ended March 31, 2023 and 2022:
For the Three Months Ended
March 31, 2023 March 31, 2022
Crude oil transportation revenue $ 23,970,861  81.7  % $ 24,129,364 81.1  %
Natural gas transportation revenue 3,752,600  12.8  % 4,061,276  13.6  %
Natural gas distribution revenue 1,238,528  4.2  % 1,197,904  4.0  %
Other 381,397  1.3  % 372,810  1.3  %
Total $ 29,343,386  100.0  % $ 29,761,354  100.0  %