Quarterly report pursuant to Section 13 or 15(d)

Transportation and Distribution Revenue (Tables)

v3.21.1
Transportation and Distribution Revenue (Tables)
3 Months Ended
Mar. 31, 2021
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 March 31, 2021:
Contract Liability(1)
March 31, 2021 December 31, 2020
Beginning Balance January 1 $ 6,104,979  $ 6,850,790 
Unrecognized Performance Obligations 315,000  347,811 
Recognized Performance Obligations (146,369) (1,093,622)
Ending Balance $ 6,273,610  $ 6,104,979 
(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 months ended March 31, 2021 and 2020:
For the Three Months Ended
March 31, 2021 March 31, 2020
Crude oil transportation revenue 73.3  % —  %
Natural gas transportation revenue 17.9  % 68.8  %
Natural gas distribution revenue 5.6  % 23.2  %