Quarterly report pursuant to Section 13 or 15(d)

Transportation and Distribution Revenue (Tables)

v3.21.2
Transportation and Distribution Revenue (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2021:
Contract Liability(1)
September 30, 2021 December 31, 2020
Beginning Balance January 1 $ 6,104,979  $ 6,850,790 
Unrecognized Performance Obligations 315,000  347,811 
Recognized Performance Obligations (439,106) (1,093,622)
Ending Balance $ 5,980,873  $ 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 and nine months ended September 30, 2021 and 2020:
For the Three Months Ended For the Nine Months Ended
September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020
Crude oil transportation revenue 84.6  % —  % 80.7  % —  %
Natural gas transportation revenue 11.4  % 64.6  % 13.5  % 67.2  %
Natural gas distribution revenue 3.5  % 26.0  % 4.3  % 25.3  %