| 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:
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Contract Liability(1)
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June 30, 2023 |
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December 31, 2022 |
| Beginning Balance January 1 |
$ |
5,927,873 |
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$ |
5,339,364 |
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| Unrecognized Performance Obligations |
531,062 |
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1,175,824 |
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| Recognized Performance Obligations |
(348,154) |
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(587,315) |
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Ending Balance (2)
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$ |
6,110,781 |
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$ |
5,927,873 |
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(1) As of June 30, 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, 2022, the contract liability balance was included in unearned revenue in the Consolidated Balance Sheets. |
(2) As of June 30, 2023, the contract liability balance for MoGas and Omega was $5.5 million and is recorded in liabilities held-for-sale on the Consolidated Balance Sheets. |
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| Schedule 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, 2023 and 2022:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2023 |
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June 30, 2022 |
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June 30, 2023 |
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June 30, 2022 |
| Crude oil transportation revenue |
$ |
23,205,929 |
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81 |
% |
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$ |
22,759,790 |
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81 |
% |
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$ |
47,072,520 |
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82 |
% |
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$ |
47,102,774 |
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81 |
% |
| Natural gas transportation revenue |
3,596,338 |
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13 |
% |
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4,077,445 |
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14 |
% |
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7,348,937 |
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13 |
% |
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8,138,721 |
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14 |
% |
| Natural gas distribution revenue |
1,271,553 |
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4 |
% |
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1,236,261 |
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4 |
% |
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2,510,081 |
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4 |
% |
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2,434,166 |
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4 |
% |
| Other |
466,812 |
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2 |
% |
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216,158 |
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1 |
% |
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848,209 |
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1 |
% |
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588,967 |
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1 |
% |
| Total |
$ |
28,540,632 |
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100 |
% |
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$ |
28,289,654 |
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100 |
% |
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$ |
57,779,747 |
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100 |
% |
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$ |
58,264,628 |
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100 |
% |
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