Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 23, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | Blueknight Energy Partners, L.P. | ||
Entity Central Index Key | 0001392091 | ||
Trading Symbol | bkep | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Public Float | $ 42.9 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Units representing limited partner interests | ||
Series A Preferred Unit [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 35,125,202 | ||
Common Unit [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 41,034,763 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 558 | $ 1,455 |
Accounts receivable, net | 23,716 | 35,683 |
Receivables from related parties, net | 1,110 | 1,043 |
Other current assets | 8,692 | 9,345 |
Total current assets | 34,076 | 47,526 |
Property, plant and equipment, net of accumulated depreciation of $263,554 and $274,404 at December 31, 2018 and 2019, respectively | 232,777 | 248,261 |
Goodwill | 6,728 | 6,728 |
Debt issuance costs, net | 2,344 | 3,349 |
Operating lease assets | 10,758 | |
Intangibles assets, net | 14,088 | 16,834 |
Other noncurrent assets | 1,169 | 606 |
Total assets | 301,940 | 323,304 |
Current liabilities: | ||
Accounts payable | 3,125 | 3,707 |
Accounts payable to related parties | 2,460 | 2,263 |
Contingent liability with related party (Note 12) | 12,221 | |
Accrued interest payable | 293 | 465 |
Accrued property taxes payable | 3,247 | 3,089 |
Accrued payroll | 4,823 | 3,667 |
Current operating lease liability | 2,391 | |
Other current liabilities | 2,627 | 3,465 |
Total current liabilities | 54,576 | 48,865 |
Other long-term liabilities | 2,417 | 4,010 |
Contingent liability with related party (Note 12) | 10,019 | |
Noncurrent operating lease liability | 8,529 | |
Long-term debt | 255,592 | 265,592 |
Commitments and contingencies (Note 15) | ||
Partners’ capital (deficit): | ||
Common unitholders (40,424,372 and 40,830,051 units issued and outstanding at December 31, 2018 and 2019, respectively) | 356,777 | 370,972 |
Preferred Units (35,125,202 units issued and outstanding at both dates) | 253,923 | 253,923 |
General partner interest (1.6% interest with 1,225,409 general partner units outstanding at both dates) | (632,023) | (631,791) |
Total partners’ capital (deficit) | (21,323) | (6,896) |
Total liabilities and partners’ capital (deficit) | 301,940 | 323,304 |
Third Party [Member] | ||
Current liabilities: | ||
Accrued crude oil purchases | 6,706 | 13,949 |
Unearned revenue | 1,942 | 3,206 |
Related Party [Member] | ||
Current liabilities: | ||
Accrued crude oil purchases | 11,807 | 10,219 |
Unearned revenue | 2,934 | 4,835 |
Long-term unearned revenue with related parties | $ 2,149 | $ 1,714 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accumulated depreciation | $ 274,404 | $ 263,554 |
Common units, issued (in shares) | 40,830,051 | 40,424,372 |
Common units, outstanding (in shares) | 40,830,051 | 40,424,372 |
Preferred units, issued (in shares) | 35,125,202 | 35,125,202 |
Preferred units, outstanding (in shares) | 35,125,202 | 35,125,202 |
General partner units, issued (in shares) | 1,225,409 | 1,225,409 |
General partner units, outstanding (in shares) | 1,225,409 | 1,225,409 |
General partner units, interest | 1.60% | 1.60% |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Revenue from contract with customer | $ 308,915 | $ 316,807 | |
Total revenue | 371,070 | 384,835 | [1] |
Operating expense | 103,289 | 113,890 | |
General and administrative expense | 14,095 | 15,995 | |
Asset impairment expense | 2,476 | 53,068 | |
Total costs and expenses | 337,341 | 412,198 | |
Gain on sale of assets | 453 | 149 | |
Operating income (loss) | 34,182 | (27,214) | [2] |
Other income (expenses): | |||
Other income | 268 | ||
Gain on sale of unconsolidated affiliate | 2,225 | ||
Interest expense | (15,975) | (16,860) | |
Income (loss) before income taxes | 18,475 | (41,849) | |
Provision for income taxes | 63 | 198 | |
Net income (loss) | 18,412 | (42,047) | [2] |
Allocation of net income (loss) for calculation of earnings per unit: | |||
General partner interest in net income (loss) | 337 | (512) | |
Preferred interest in net income | 25,115 | 25,115 | |
Net loss available to limited partners | $ (7,040) | $ (66,650) | |
Basic and diluted net loss per common unit (in dollars per share) | $ (0.17) | $ (1.61) | |
Weighted average common units outstanding - basic and diluted (in shares) | 40,755 | 40,348 | |
Third Party [Member] | |||
Operating Lease, Lease Income, Total | $ 41,712 | $ 42,067 | |
Cost of product sales | 83,319 | 126,776 | |
Related Party [Member] | |||
Operating Lease, Lease Income, Total | 20,443 | 25,961 | |
Cost of product sales | 134,162 | 102,469 | |
Service [Member] | Third Party [Member] | |||
Revenue from contract with customer | 61,811 | 58,756 | |
Service [Member] | Related Party [Member] | |||
Revenue from contract with customer | 16,053 | 22,131 | |
Product [Member] | Third Party [Member] | |||
Revenue from contract with customer | 231,051 | 235,438 | |
Product [Member] | Related Party [Member] | |||
Revenue from contract with customer | $ 482 | ||
[1] | The increase in revenue during 2018 is due to an increase in volume in the Partnership's crude oil marketing business. | ||
[2] | Operating loss and net loss for the fourth quarter and full year 2018 are impacted by asset impairment charges of $52.4 million and $53.1 million, respectively. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Partners' Capital (Deficit) - USD ($) $ in Thousands | Total | Limited Partner [Member] | Preferred Partner [Member] | General Partner [Member] | |
Balance at Dec. 31, 2017 | $ 4,684 | $ 454,358 | $ 253,923 | $ (703,597) | |
Net income (loss) | (42,047) | [1] | (66,818) | 25,115 | (344) |
Equity-based incentive compensation | 1,845 | 1,811 | 34 | ||
Distributions | (44,736) | (18,587) | (25,115) | (1,034) | |
Capital contributions | 183 | 183 | |||
Capital contributions related to sale of terminal assets to Ergon | 72,967 | 72,967 | |||
Proceeds from sale of common units pursuant to the Employee Unit Purchase Plan | 208 | 208 | |||
Balance at Dec. 31, 2018 | (6,896) | 370,972 | 253,923 | (631,791) | |
Net income (loss) | 18,412 | (6,990) | 25,115 | 287 | |
Equity-based incentive compensation | 973 | 953 | 20 | ||
Distributions | (33,988) | (8,334) | (25,115) | (539) | |
Proceeds from sale of common units pursuant to the Employee Unit Purchase Plan | 176 | 176 | |||
Balance at Dec. 31, 2019 | $ (21,323) | $ 356,777 | $ 253,923 | $ (632,023) | |
[1] | Operating loss and net loss for the fourth quarter and full year 2018 are impacted by asset impairment charges of $52.4 million and $53.1 million, respectively. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Partners' Capital (Deficit) (Parentheticals) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Limited Partner [Member] | ||
Common units issued pursuant to the Employee Unit Purchase Plan (in shares) | 161,971 | 61,327 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Cash flows from operating activities: | |||
Net income (loss) | $ 18,412 | $ (42,047) | [1] |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 25,533 | 29,359 | |
Intangible asset impairment charge | 189 | ||
Amortization and write-off of debt issuance costs | 1,005 | 1,451 | |
Unrealized gain related to interest rate swaps | 44 | (201) | |
Fixed asset impairment charge | 274 | 42,860 | |
Other impairment charge (Note 12) | 2,202 | 10,019 | |
Gain on sale of assets | (453) | (149) | |
Gain on sale of unconsolidated affiliate | (2,225) | ||
Equity-based incentive compensation | 973 | 1,845 | |
Changes in assets and liabilities: | |||
Decrease (increase) in accounts receivable | 9,325 | (25,452) | |
Decrease (increase) in receivables from related parties | (67) | 2,027 | |
Decrease in other current assets | 2,628 | 3,399 | |
Decrease in other non-current assets | 2,964 | 442 | |
Decrease in accounts payable | (702) | (592) | |
Increase (decrease) in payables to related parties | (282) | 342 | |
Decrease in accrued interest payable | (172) | (229) | |
Increase in accrued property taxes | 158 | 1,031 | |
Increase (decrease) in accrued payroll | 1,156 | (2,452) | |
Decrease in other accrued liabilities | (3,579) | (1,500) | |
Net cash provided by operating activities | 49,837 | 48,784 | |
Cash flows from investing activities: | |||
Acquisitions | (21,959) | ||
Capital expenditures | (12,746) | (34,400) | |
Proceeds from sale of assets | 8,410 | 5,051 | |
Proceeds from sale of unconsolidated affiliate | 2,225 | ||
Net cash provided by (used in) investing activities | (4,336) | 39,455 | |
Cash flows from financing activities: | |||
Payments on other financing activities | (2,586) | (2,550) | |
Debt issuance costs | (358) | ||
Borrowings under credit agreement | 291,000 | 324,000 | |
Payments under credit agreement | (301,000) | (366,000) | |
Proceeds from equity issuance | 176 | 208 | |
Capital contributions | 183 | ||
Distributions | (33,988) | (44,736) | |
Net cash used in financing activities | (46,398) | (89,253) | |
Net decrease in cash and cash equivalents | (897) | (1,014) | |
Cash and cash equivalents at beginning of period | 1,455 | 2,469 | |
Cash and cash equivalents at end of period | 558 | 1,455 | |
Supplemental disclosure of non-cash financing and investing cash flow information: | |||
Non-cash changes in property, plant and equipment | 1,590 | (715) | |
Increase in accrued liabilities related to insurance premium financing agreement | 2,356 | 2,184 | |
Cash paid for interest, net of amounts capitalized | 15,150 | 16,088 | |
Cash paid for income taxes | 227 | 133 | |
Ergon [Member] | |||
Cash flows from investing activities: | |||
Proceeds from sale of assets | 88,538 | ||
Supplemental disclosure of non-cash financing and investing cash flow information: | |||
Non-cash change in assets and liabilities due to settlement items related to the sale of terminal assets to Ergon | (1,308) | ||
Third Party [Member] | |||
Changes in assets and liabilities: | |||
Increase (decrease) in accrued crude oil purchases | (7,243) | 13,949 | |
Increase (decrease) in unearned revenue | (1,961) | 785 | |
Related Party [Member] | |||
Changes in assets and liabilities: | |||
Increase (decrease) in accrued crude oil purchases | 1,588 | 10,219 | |
Increase (decrease) in unearned revenue | $ (1,966) | $ 5,714 | |
[1] | Operating loss and net loss for the fourth quarter and full year 2018 are impacted by asset impairment charges of $52.4 million and $53.1 million, respectively. |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. ORGANIZATION AND NATURE OF BUSINESS Blueknight Energy Partners, L.P. and subsidiaries (collectively, the “Partnership”) is a publicly traded master limited partnership with operations in 27 four April 24, 2018, second 2018. 6 February 2007 |
Note 2 - Basis of Consolidation
Note 2 - Basis of Consolidation and Presentation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. BASIS OF CONSOLIDATION AND PRESENTATION The accompanying consolidated financial statements and related notes present and discuss the Partnership’s consolidated financial position as of December 31, 2018 2019 December 31, 2018 2019 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES USE OF ESTIMATES 1 2 3 4 5 6 CASH AND CASH EQUIVALENTS three ACCOUNTS RECEIVABLE $0.1 December 31, 2018 2019 The Partnership reviews all outstanding accounts receivable balances on a monthly basis and records a reserve for amounts that the Partnership expects will not no not PROPERTY, PLANT AND EQUIPMENT not Depreciation is calculated using the straight-line method based on estimated useful lives of the assets. These estimates are based on various factors, including age (in the case of acquired assets), manufacturing specifications, technological advances and historical data concerning useful lives of similar assets. Uncertainties that impact these estimates include changes in laws and regulations relating to restoration and abandonment requirements, economic conditions and supply and demand in the area. When assets are put into service, management makes estimates with respect to useful lives and salvage values that it believes are reasonable. However, subsequent events could cause management to change its estimates, thus impacting the future calculation of depreciation. The Partnership has contractual obligations to perform dismantlement and removal activities in the event that some of its liquid asphalt terminalling assets are abandoned (see Note 15 IMPAIRMENT OF LONG-LIVED ASSETS AND OTHER INTANGIBLE ASSETS not may not not During the year ended December 31, 2019, $0.3 $2.2 December 31, 2019, $10.0 December 31, 2018. 12 December 31, 2018, $40.7 $1.7 $0.4 Acquired customer relationships are capitalized and amortized over useful lives ranging from 5 20 not December 31, 2018, $0.2 The substantial or extended decline in crude oil commodity prices could result in impairments of the Partnership’s assets in the future. EQUITY METHOD INVESTMENTS 30% not not April 3, 2017, one 5 DEBT ISSUANCE COSTS not GOODWILL not December four not 3 Changes in the carrying amount of goodwill are summarized below for the periods indicated (in thousands): Asphalt Terminalling Services Balance, December 31, 2017 $ 3,870 Acquisition 2,858 Balance, December 31, 2018 $ 6,728 There were no 2019 no 2018 2019 ENVIRONMENTAL MATTERS $0.2 $0.1 December 31, 2018 2019 REVENUE RECOGNITION 606. January 1, 2019, ASC 842 January 1, 2019, not ASC 840 4 INCOME AND OTHER TAXES $0.2 $0.1 December 31, 2018 2019, 20 STOCK-BASED COMPENSATION 4.1 The Partnership classifies unit award grants as either equity or liability awards. All award grants made under the LTIP from its inception through December 31, 2019 not FAIR VALUE OF FINANCIAL INSTRUMENTS |
Note 4 - Revenue
Note 4 - Revenue | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue [Text Block] | 4. REVENUE On January 1, 2019, ASC 842 January 1, 2019, not ASC 840 842 not 842, There are two ASC 842 842 606, first Asphalt storage, throughput and handling contracts also contain variable consideration in the form of reimbursements of utility, fuel and power expenses and throughput fees. Utility, fuel and power reimbursements are allocated entirely to the service component of the contracts. Utility, fuel and power reimbursements relate directly to the distinct monthly service that makes up the overall performance obligation and revenue is recognized in the period in which the service takes place. Variable consideration related to reimbursements of utility, fuel and power expenses is billed in the month subsequent to the period of service, and payment is due within 30 842, 842, 606. 30 Certain asphalt storage, throughput and handling contracts contain provisions for reimbursement of specified major maintenance costs above a specified threshold over the life of the contract. Reimbursements of specified major maintenance costs are allocated to both the lease and service component of the contracts using the allocation percentages from contract inception. Reimbursements of specified major maintenance costs are reviewed and paid quarterly, which may not The following table includes revenue associated with contractual commitments in place related to future performance obligations as of the end of the reporting period, which are expected to be recognized in revenue in the specified periods (in thousands): Revenue from Contracts with Revenue from Customers(1) Leases 2020 $ 31,879 $ 56,114 2021 30,209 55,017 2022 23,198 44,262 2023 17,605 35,289 2024 8,040 18,141 Thereafter 6,719 17,575 Total revenue related to future performance obligations $ 117,650 $ 226,398 ( 1 Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of December 31, 2019. The Partnership recognized variable lease consideration of $5.1 $6.1 December 31, 2018 2019, $2.6 $2.7 December 31, 2018 2019, Crude oil terminalling services contracts can be either short- or long-term written contracts. The contracts contain a single performance obligation that consists of a series of distinct services provided over time. Customers are billed a month prior to the performance of terminalling services and payment is due by the first 30 There are primarily two Under crude oil pipeline services monthly transportation contracts, customers submit nominations for transportation monthly and a contract is created upon the Partnership’s acceptance of the nomination under its published tariffs. Crude oil pipeline services contracts have a single performance obligation to perform the transportation service. The transportation service is provided to the customer in the same month in which the customer makes the related nomination. Revenue is recorded in the month of service and invoiced in the following month. Payment is due within 30 The Partnership also purchases crude oil and resells to third 30 Services in the crude oil trucking segment are provided under master service agreements with customers that include rate sheets. Contracts are initiated when a customer requests service and both parties are committed upon the Partnership’s acceptance of the customer’s request. Crude oil trucking contracts have a single performance obligation to perform the service, which is completed in a day. Revenue is recorded in the month of service and invoiced in the following month. Payment is due within 30 Disaggregation of Revenue Disaggregation of revenue from contracts with customers for each operating segment by revenue type is presented as follows (in thousands): Year ended December 31, 2018 Asphalt Crude Oil Crude Oil Crude Oil Terminalling Terminalling Pipeline Trucking Services Services Services Services Total Third-party revenue: Fixed storage, throughput and other revenue $ 18,100 $ 10,966 $ - $ - $ 29,066 Variable throughput revenue 918 962 - - 1,880 Variable reimbursement revenue 7,090 - - - 7,090 Crude oil transportation revenue - - 6,396 14,324 20,720 Crude oil product sales revenue - - 235,428 10 235,438 Related-party revenue: Fixed storage, throughput and other revenue 15,352 - 215 - 15,567 Variable throughput revenue 762 - - - 762 Variable reimbursement revenue 5,572 - 230 - 5,802 Product sales revenue 482 - - - 482 Total revenue from contracts with customers $ 48,276 $ 11,928 $ 242,269 $ 14,334 $ 316,807 Year ended December 31, 2019 Asphalt Crude Oil Crude Oil Crude Oil Terminalling Terminalling Pipeline Trucking Services Services Services Services Total Third-party revenue: Fixed storage, throughput and other revenue $ 20,334 $ 13,065 $ - $ - $ 33,399 Variable throughput revenue 1,234 2,300 - - 3,534 Variable reimbursement revenue 7,121 - - - 7,121 Crude oil transportation revenue - - 6,691 11,066 17,757 Crude oil product sales revenue - - 231,051 - 231,051 Related-party revenue: Fixed storage, throughput and other revenue 11,314 - 229 - 11,543 Variable reimbursement revenue 4,473 - 37 - 4,510 Total revenue from contracts with customers $ 44,476 $ 15,365 $ 238,008 $ 11,066 $ 308,915 Contract Balances The timing of revenue recognition, billings and cash collections result in billed accounts receivable and unearned revenue (contract liabilities) on the consolidated balance sheets as noted in the contract discussions above. Accounts receivable are reflected in the line items “Accounts receivable” and “Receivables from related parties” on the consolidated balance sheets. Unearned revenue is included in the line items “Unearned revenue,” “Unearned revenue with related parties,” “Long-term unearned revenue with related parties” and “Other long-term liabilities” on the consolidated balance sheets. Billed accounts receivable from contracts with customers were $34.6 $23.2 December 31, 2018 2019 The Partnership records unearned revenues when cash payments are received in advance of performance. Unearned revenue related to contracts with customers was $5.9 $3.0 December 31, 2018 2019 December 31, 2019 $2.8 Practical Expedients and Exemptions The Partnership does not one |
Note 5 - Equity Method Investme
Note 5 - Equity Method Investment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 5 . EQUITY METHOD INVESTMENT The Partnership’s investment in Advantage Pipeline, L.L.C. (“Advantage Pipeline”), over which the Partnership had significant influence but not not April 3, 2017, 30% $25.3 $4.2 10% $1.1 August 2017, $2.2 January 2018. December 31, 2019, no |
Note 6 - Property, Plant and Eq
Note 6 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6 . PROPERTY, PLANT AND EQUIPMENT Estimated Useful Lives As of December 31, (Years) 2018 2019 (dollars in thousands) Land N/A $ 24,705 $ 24,705 Land improvements 10-20 5,758 5,831 Pipelines and facilities 5-30 116,155 105,985 Storage and terminal facilities 10-35 321,096 328,092 Transportation equipment 3-10 2,798 3,613 Office property and equipment and other 3-20 26,980 27,292 Pipeline linefill and tank bottoms N/A 10,297 8,148 Construction-in-progress N/A 4,026 3,515 Property, plant and equipment, gross 511,815 507,181 Accumulated depreciation (263,554 ) (274,404 ) Property, plant and equipment, net $ 248,261 $ 232,777 Plant, property and equipment under operating leases at December 31, 2019 $287.7 $181.4 Depreciation expense for the years ended December 31, 2018 2019 $26.9 $22.5 During the year ended December 31, 2019, three 35 $5.7 $0.5 December 31, 2019, $2.6 December 2018 January 2019. During the year ended December 31, 2018, $40.7 $1.7 $0.4 On July 12, 2018, $90.0 not not In April 2018, $3.0 $0.4 not not On March 7, 2018, third $22.0 |
Note 7 - Intangible Assets, Net
Note 7 - Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 7 . INTANGIBLE ASSETS, NET Intangible assets, net of accumulated amortization, consist of the following: As of December 31, 2018 2019 (in thousands) Customer relationships $ 19,214 $ 19,214 Deferred charges related to pipeline connection agreements 2,716 2,653 Intangible assets, gross 21,930 21,867 Accumulated amortization of intangible assets (5,096 ) (7,779 ) Intangible assets, net $ 16,834 $ 14,088 Amortization expense related to intangibles for the years ended December 31, 2018 2019 $2.5 $2.7 million For year ending: December 31, 2020 $ 2,746 December 31, 2021 2,746 December 31, 2022 2,746 December 31, 2023 1,321 December 31, 2024 1,321 Thereafter 3,208 Total estimated aggregate amortization expense $ 14,088 Customer relationships include $7.6 $8.4 March 2018 February 2016, $3.2 November 2015. 5 20 During the year ended December 31, 2018, $0.2 |
Note 8 - Debt
Note 8 - Debt | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 . DEBT On May 11, 2017, June 28, 2018, $450.0 $400.0 As of March 23, 2020 $273.6 $1.0 $125.4 may may The credit agreement is guaranteed by all of the Partnership’s existing subsidiaries. Obligations under the credit agreement are secured by first The credit agreement includes procedures for additional financial institutions to become revolving lenders, or for any existing lender to increase its revolving commitment thereunder, subject to an aggregate maximum of $600.0 The credit agreement will mature on May 11, 2022, not Borrowings under the credit agreement bear interest, at the Partnership’s option, at either the reserve-adjusted eurodollar rate (as defined in the credit agreement) plus an applicable margin which ranges from 2.0% 3.25% 0.5% 30 1.0% 1.0% 2.25%. 0.375% 0.5% The credit agreement includes financial covenants which are tested on a quarterly basis, based on the rolling four Prior to the date on which the Partnership issues qualified senior notes in an aggregate principal amount (when combined with all other qualified senior notes previously or concurrently issued) that equals or exceeds $200.0 5.00 1.00 December 31, 2019, 4.75 1.00 March 31, 2020, may 5.25 1.00 December 31, 2019, $15.0 From and after the date on which the Partnership issues qualified senior notes in an aggregate principal amount (when combined with all other qualified senior notes previously or concurrently issued) that equals or exceeds $200.0 5.00 1.00; second 5.50 1.00. The maximum permitted consolidated senior secured leverage ratio (as defined in the credit agreement, but generally computed as the ratio of consolidated total secured debt to consolidated earnings before interest, taxes, depreciation, amortization and certain other non-cash charges) is 3.50 1.00, $200.0 The minimum permitted consolidated interest coverage ratio (as defined in the credit agreement, but generally computed as the ratio of consolidated earnings before interest, taxes, depreciation, amortization and certain other non-cash charges to consolidated interest expense) is 2.50 1.00. In addition, the credit agreement contains various covenants that, among other restrictions, limit the Partnership’s ability to: • create, issue, incur or assume indebtedness; • create, incur or assume liens; • engage in mergers or acquisitions; • sell, transfer, assign or convey assets; • repurchase the Partnership’s equity, make distributions to unitholders and make certain other restricted payments; • make investments; • modify the terms of certain indebtedness, or prepay certain indebtedness; • engage in transactions with affiliates; • enter into certain hedging contracts; • enter into certain burdensome agreements; • change the nature of the Partnership’s business; and • make certain amendments to the Partnership’s partnership agreement. At December 31, 2019 4.05 1.00 4.24 1.00. December 31, 2019 Management evaluates whether conditions and/or events raise substantial doubt about the Partnership’s ability to continue as a going concern within one Based on the Partnership’s forecasted EBITDA during the assessment period, management believes that it will meet these financial covenants. However, the Partnership cannot make any assurances that it will be able to achieve management’s forecasts. If the Partnership is unable to achieve management’s forecasts, further actions may not no may $255.6 December 31, 2019 not The credit agreement permits the Partnership to make quarterly distributions of available cash (as defined in the Partnership’s partnership agreement) to unitholders so long as no no $10.7 December 31, 2019. 10 In addition to other customary events of default, the credit agreement includes an event of default if: (i) the general partner ceases to own 100% (ii) Ergon ceases to own and control 50.0% (iii) during any period of 12 (A) who were members of the Board on the first (B) whose election or nomination to the Board was approved by individuals referred to in clause (A) above constituting at the time of such election or nomination at least a majority of the Board; or (C) whose election or nomination to the Board was approved by individuals referred to in clauses (A) and (B) above constituting at the time of such election or nomination at least a majority of the Board, provided that any changes to the composition of individuals serving as members of the Board approved by Ergon will not If an event of default relating to bankruptcy or other insolvency events occurs with respect to the general partner or the Partnership, all indebtedness under the credit agreement will immediately become due and payable. If any other event of default exists under the credit agreement, the lenders may may If any default occurs under the credit agreement, or if the Partnership is unable to make any of the representations and warranties in the credit agreement, the Partnership will be unable to borrow funds or have letters of credit issued under the credit agreement. Upon the execution of the first June 2018, $0.4 December 31, 2018 $0.4 December 31, 2018 2019 $1.0 During the years ended December 31, 2018 2019 $0.4 5.49% 6.00% $16.8 $15.9 The Partnership is exposed to market risk for changes in interest rates related to its credit agreement. Interest rate swap agreements are sometimes used to manage a portion of the exposure related to changing interest rates by converting floating-rate debt to fixed-rate debt. As of December 31, 2019, no $100.0 January 28, 2019. December 31, 2018 2019 $0.1 not ASC 815 The following provides information regarding the Partnership’s assets and liabilities related to its interest rate swap agreements as of the periods indicated (in thousands): Fair Value of Derivatives Not Designated as Hedging Instruments Balance Sheet Location Derivatives December 31, 2018 Interest rate swap assets - current Other current assets $ 44 Changes in the fair value of the interest rate swaps are reflected in the consolidated statements of operations as follows (in thousands): Derivatives Not Designated as Location of Gain(Loss) Recognized in Net Amount of Gain(Loss) Recognized Hedging Instruments Income on Derivatives in Net Income on Derivatives Year ended December 31, 2018 2019 Interest rate swaps Interest expense $ 201 $ (44 ) |
Note 9 - Net Income Per Limited
Note 9 - Net Income Per Limited Partner Unit | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9 . NET INCOME PER LIMITED PARTNER UNIT For purposes of calculating earnings per unit, the excess of distributions over earnings or excess of earnings over distributions for each period are allocated to the Partnership’s general partner based on the general partner’s ownership interest at the time. The following sets forth the computation of basic and diluted net income per common unit (in thousands, except per unit data): Year ended December 31, 2018 2019 Net income (loss) $ (42,047 ) $ 18,412 General partner interest in net income (loss) (512 ) 337 Preferred interest in net income 25,115 25,115 Net loss available to limited partners $ (66,650 ) $ (7,040 ) Basic and diluted weighted average number of units: Common units 40,348 40,755 Restricted and phantom units 1,011 1,023 Total units 41,359 41,778 Basic and diluted net loss per common unit $ (1.61 ) $ (0.17 ) |
Note 10 - Partners' Capital (De
Note 10 - Partners' Capital (Deficit) and Distributions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Partners' Capital Notes Disclosure [Text Block] | 10 . PARTNERS’ CAPITAL(DEFICIT) AND DISTRIBUTIONS In accordance with the terms of its partnership agreement, each quarter the Partnership distributes all of its available cash (as defined in the partnership agreement) to its unitholders. Generally, distributions are allocated as follows: • first, 98.4% 1.6% • second, 98.4% 1.6% • thereafter, 98.4% 1.6% $0.11 The Preferred Units are convertible at the holders’ option into common units. Holders of the Preferred Units are entitled to quarterly distributions of $0.17875 The general partner receives incentive distribution rights. Incentive distribution rights represent the right to receive an increasing percentage ( 13.0%, 23.0% 48.0% may • the Partnership has distributed available cash from operating surplus to the holders of our Preferred Units in an amount equal to the Preferred Units quarterly distribution amount; • the Partnership has distributed available cash from operating surplus to the holders of our Preferred Units in an amount necessary to eliminate any cumulative arrearages in the payment of the Preferred Units quarterly distribution amount; and • the Partnership has distributed available cash from operating surplus to the common unitholders and Class B unitholders in an amount equal to the minimum quarterly distribution; then the partnership agreement requires that the Partnership distribute any additional available cash from operating surplus for that quarter among the unitholders and the general partner in the following manner: • first, 98.4% 1.6% $0.1265 • second, 85.4% 14.6% $0.1375 • third, 75.4% 24.6% $0.1825 • thereafter, 50.4% 49.6% Distributions are also paid to the holders of restricted units and phantom units as disclosed in Note 13. The Partnership paid the following distributions on the Preferred Units during the years ended December 31, 2018 2019 Year Paid to Preferred Partner Paid Periods Covered Total Unitholders Paid to General 2018 Quarters ending December 31, 2017, March 31, 2018, June 30, 2018 and September 30, 2018 $ 25,523 $ 25,115 $ 408 2019 Quarters ending December 31, 2018, March 31, 2019, June 30, 2019 and September 30, 2019 $ 25,521 $ 25,115 $ 406 In addition, on January 22, 2020 $0.17875 December 31, 2019 February 14, 2020 February 4, 2020 $6.4 $6.3 $0.1 The Partnership paid the following distributions on the common units during the years ended December 31, 2018 2019 Year Paid to Common Paid to General Paid to Phantom and Restricted Unitholders Under Paid Periods Covered Total Unitholders Partner the LTIP 2018 Quarters ending December 31, 2017, March 31, 2018, June 30, 2018 and September 30, 2018 $ 19,213 $ 18,154 $ 626 $ 433 2019 Quarters ending December 31, 2018, March 31, 2019, June 30, 2019 and September 30, 2019 $ 8,468 $ 8,150 $ 135 $ 183 In addition, on January 22, 2020 $0.04 December 31, 2019 February 14, 2020 February 4, 2020 $1.7 $1.6 $0.1 |
Note 11 - Major Customers and C
Note 11 - Major Customers and Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 11 . MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK Significant customers are defined as those who represent 10% For the year ended December 31, 2018 13% crude oil pipeline services segment third 10% two third 15% For the year ended December 31, 2019 10% third 65% |
Note 12 - Related-Party Transac
Note 12 - Related-Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12 . RELATED-PARTY The Partnership leases facilities to Ergon and provides liquid asphalt terminalling services to Ergon. For the years ended December 31, 2018 2019 $48.5 $36.2 December 31, 2018 2019 $1.0 $1.1 In May 2018, 16 65 second 2019. 50% In December 2018, not December 31, 2018, $30.6 $20.9 fourth 2018 $10.0 December 31, 2018, April 2019, third $1.4 December 31, 2018. 107 5.T 50% 50% December 31, 2018 2019, $10.0 $2.2 2019 Ergon’s interest in DEVCO included its capital contributions, its share of the cash received for the assets sale discussed above and internal Ergon labor costs, which brought its investment in DEVCO to approximately $10.2 December 31, 2019. December 31, 2019, $10.2 $2.0 January 2, 2020, January 3, 2020. Effective April 1, 2018, December 31, 2018 2019, $108.8 $133.5 December 31, 2019 $11.8 December January 21, 2020. Ergon 2017 In September 2016, January 1, 2017, six July 2018, December 31, 2018, $6.7 Ergon 2016 In October 2016, 2016 nine July 2018, one 2016 October 5, 2016, December 31, 2025. December 31, 2018 2019 $24.8 $20.0 Ergon Fontana and Las Vegas Storage Throughput and Handling Agreement In October 2016, two May 18, 2009, October 5, 2016, December 31, 2018. March 2019 January 1, 2019, December 31, 2025. December 31, 2018 2019 $6.6 $6.0 Ergon Lessee Operated Facility Lease Agreement and Previous Agreements In March 2019, 12 January 1, 2019, December 31, 2025. December 31, 2019, $8.3 two The Ergon Master Facilities Lease and Sublease Agreement, pursuant to which the Partnership leased Ergon certain facilities, was executed in May 2009. May 18, 2009, two December 31, 2011. eight June 2018. July 2018, one December 31, 2018, December 31, 2018, $5.3 The Ergon Master Facilities Sublease and Sublicense Agreement was executed in November 2010 five one May 18, 2009, two December 31, 2011. June 2015 December 31, 2018, December 31, 2018, $2.8 |
Note 13 - Long-term Incentive P
Note 13 - Long-term Incentive Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 13 . LONG-TERM INCENTIVE PLAN In July 2007, April 29, 2014, 4.1 Subject to applicable earning criteria, a DER entitles the grantee to a cash payment equal to the cash distribution paid on an outstanding common unit prior to the vesting date of the underlying award. Recipients of restricted and phantom units are entitled to receive cash distributions paid on common units during the vesting period which are reflected initially as a reduction of partners’ capital. Distributions paid on units that ultimately do not In connection with each anniversary of joining the Board, restricted common units are granted to the independent directors. The units vest in one third three Weighted Average Grant Date Total Fair Number of Grant Date Fair Value Grant Date Units Value (in thousands) December 2017 15,306 $ 4.85 $ 74 December 2018 23,436 $ 1.20 $ 28 December 2019 7,500 $ 1.07 $ 8 In addition, in December 2018, no $1.20, 21,875 $0.1 The Partnership also grants phantom units to employees. These grants are equity awards under ASC 718 Weighted Average Grant Date Total Fair Number of Grant Date Fair Value Grant Date Units Value (in thousands) March 2017 323,339 $ 7.15 $ 2,312 March 2018 396,536 $ 4.77 $ 1,891 March 2019 524,997 $ 1.14 $ 598 June 2019 46,168 $ 1.08 $ 50 The unrecognized estimated compensation cost relating to outstanding phantom and restricted units at December 31, 2019 $0.9 January 1, 2020, 227,701 March 2017 The Partnership’s equity-based incentive compensation expense for the years ended December 31, 2018 2019 $2.2 $1.1 Activity pertaining to phantom common units and restricted common unit awards granted under the LTIP is as follows: Number of Grant Date Fair Units Value Nonvested, December 31, 2018 998,219 $ 5.88 Granted 578,665 1.13 Vested 382,845 4.75 Forfeited 125,696 4.08 Nonvested, December 31, 2019 1,068,343 $ 3.42 |
Note 14 - Employee Benefit Plan
Note 14 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 14 . EMPLOYEE BENEFIT PLAN Under the Partnership’s 401 2009, may 401 may $1.2 $1.1 December 31, 2018 2019 401 The Partnership may 401 may 401 401 $0.2 $0.7 December 31, 2018 2019 401 Under the Partnership’s Employee Unit Purchase Plan (the “Unit Purchase Plan”), which was instituted in January 2015, may 1,000,000 may $0.1 December 31, 2018 $0.1 December 31, 2019 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15 . COMMITMENTS AND CONTINGENCIES The Partnership is from time to time subject to various legal actions and claims incidental to its business. Management believes that these legal proceedings will not The Partnership has contractual obligations to perform dismantlement and removal activities in the event that some of its liquid asphalt terminalling assets are abandoned. These obligations include varying levels of activity, including completely removing the assets and returning the land to its original state. The Partnership has determined that the settlement dates related to the retirement obligations are indeterminate. The assets with indeterminate settlement dates have been in existence for many years and with regular maintenance will continue to be in service for many years to come. Also, it is not not no not |
Note 16 - Environmental Remedia
Note 16 - Environmental Remediation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Environmental Loss Contingency Disclosure [Text Block] | 1 6 . ENVIRONMENTAL REMEDIATION The Partnership maintains insurance of various types with varying levels of coverage that it considers adequate under the circumstances to cover its operations and properties. The insurance policies are subject to deductibles and retention levels that the Partnership considers reasonable and not may At December 31, 2018 2019 may $0.2 $0.1 December 31, 2018 2019 may |
Note 17 - Fair Value Measuremen
Note 17 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 17 . FAIR VALUE MEASUREMENTS The Partnership uses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost) to value these assets and liabilities as appropriate. The Partnership uses an exit price when determining the fair value. The exit price represents amounts that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Partnership utilizes a three three three Level 1 Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 Inputs other than quoted prices that are observable for these assets or liabilities, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Unobservable inputs in which there is little market data, which requires the reporting entity to develop its own assumptions. This hierarchy requires the use of observable market data, when available, to minimize the use of unobservable inputs when determining fair value. In periods in which they occur, the Partnership recognizes transfers into and out of Level 3 3 3 The Partnership’s recurring financial assets and liabilities subject to fair value measurements and the necessary disclosures are as follows (in thousands): Fair Value Measurements as of December 31, 2018 Description Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Interest rate swap assets $ 44 $ - $ 44 $ - Total swap assets $ 44 $ - $ 44 $ - Fair Value of Other Financial Instruments The following disclosure of the estimated fair value of financial instruments is made in accordance with accounting guidance for financial instruments. The Partnership has determined the estimated fair values by using available market information and valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions or valuation methodologies may At December 31, 2019 1 Based on the borrowing rates currently available to the Partnership for credit agreement debt with similar terms and maturities and consideration of the Partnership’s non-performance risk, long-term debt associated with the Partnership’s credit agreement at December 31, 2019 3. |
Note 18 - Leases
Note 18 - Leases | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | 18. LEASES The Partnership adopted ASU 2016 02, Leases (Topic 842 January 1, 2019, Adoption of the new standard resulted in the recording of additional net right of use operating lease assets and operating lease liabilities of approximately $11.8 $11.9 January 1, 2019. not no The Partnership leases certain office space, land and equipment. Leases with an initial term of 12 not not not Some real property and equipment leases contain options to renew, with renewal terms that can extend indefinitely. The exercise of such lease renewal options is at the Partnership’s sole discretion. Certain equipment leases also contain purchase options and residual value guarantees. The Partnership determines the lease term at the lease commencement date as the non-cancellable period of the lease, including options to extend or terminate the lease when such an option is reasonably certain to be exercised. The Partnership uses various data to analyze these options, including historical trends, current expectations and useful lives of assets related to the lease. As of Classification December 31, 2019 (thousands) Assets Operating lease assets Operating lease assets $ 10,758 Finance lease assets Other noncurrent assets 750 Total leased assets $ 11,508 Liabilities Current Operating lease liabilities Current operating lease liability $ 2,391 Finance lease liabilities Other current liabilities 320 Noncurrent Operating lease liabilities Noncurrent operating lease liability 8,529 Finance lease liabilities Other long-term liabilities 430 Total lease liabilities $ 11,670 Future commitments, including options to extend lease terms that are reasonably certain of being exercised, related to leases at December 31, 2019, Operating Leases Financing Leases Twelve months ending December 31, 2020 $ 2,604 $ 350 Twelve months ending December 31, 2021 2,121 277 Twelve months ending December 31, 2022 1,518 144 Twelve months ending December 31, 2023 1,432 28 Twelve months ending December 31, 2024 814 1 Thereafter 6,064 - Total 14,553 800 Less: Interest 3,633 50 Present value of lease liabilities $ 10,920 $ 750 Future non-cancellable commitments related to operating leases at December 31, 2018, Operating Leases Twelve months ending December 31, 2019 $ 2,862 Twelve months ending December 31, 2020 1,904 Twelve months ending December 31, 2021 1,242 Twelve months ending December 31, 2022 640 Twelve months ending December 31, 2023 548 Thereafter 1,259 Total future minimum lease payments $ 8,455 The following table summarizes the Partnership’s total lease cost by type as well as cash flow information (in thousands): For the Year Ended December 31, Classification 2019 Total Lease Cost by Type: Operating lease cost(1) Operating Expense $ 3,345 Short-term lease cost Operating Expense $ 479 Finance lease cost Amortization of leased assets Operating Expense 322 Interest on lease liabilities Interest Expense 37 Net lease cost $ 4,183 Supplemental cash flow disclosures: Cash paid for amounts included in the measurement of lease liabilities: Payments on operating leases $ 2,722 Principal payments under finance lease obligations $ 267 Interest payments under finance lease obligations $ 17 Leased assets obtained in exchange for new operating lease liabilities $ 1,714 Leased assets obtained in exchange for new finance lease liabilities $ 520 ( 1 Includes variable lease costs, which are immaterial. As of December 31, 2019 Lease Term and Discount Rate Weighted-average remaining lease term (years) Operating leases 9.8 Finance leases 2.6 Weighted-average discount rate Operating leases 5.80 % Finance leases 4.87 % The Partnership also incurs costs associated with acquiring and maintaining rights-of-way. The contracts for these generally either extend beyond one no no not not |
Note 19 - Operating Segments
Note 19 - Operating Segments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 19 . OPERATING SEGMENTS The Partnership’s operations consist of four ASPHALT TERMINALLING SERVICES 53 26 CRUDE OIL TERMINALLING SERVICES CRUDE OIL PIPELINE SERVICES third CRUDE OIL TRUCKING SERVICES not April 24, 2018, second 2018. 8 The Partnership’s management evaluates performance based upon segment operating margin, which includes revenues from related parties and external customers and operating expense excluding depreciation and amortization. The non-GAAP measure of operating margin (in the aggregate and by segment) is presented in the following table. The Partnership computes the components of operating margin by using amounts that are determined in accordance with GAAP. The Partnership accounts for intersegment product sales as if the sales were to third not The following table reflects certain financial data for each segment for the periods indicated (in thousands): Year ended December 31, 2018 2019 Asphalt Terminalling Services Service revenue: Third-party revenue $ 26,108 $ 28,689 Related-party revenue 21,686 15,787 Lease revenue: Third-party revenue 41,319 41,712 Related-party revenue 25,961 20,443 Product sales revenue: Related-party revenue 482 - Total revenue for reportable segments 115,556 106,631 Operating expense, excluding depreciation and amortization 49,229 46,271 Operating margin, excluding depreciation and amortization $ 66,327 $ 60,360 Additions to long-lived assets $ 30,068 $ 7,841 Total assets (end of period) $ 138,245 $ 140,299 Crude Oil Terminalling Services Service revenue: Third-party revenue $ 11,928 $ 15,365 Intersegment revenue 704 931 Lease revenue: Third-party revenue 45 - Total revenue for reportable segments 12,677 16,296 Operating expense, excluding depreciation and amortization 3,899 4,531 Operating margin, excluding depreciation and amortization $ 8,778 $ 11,765 Additions to long-lived assets $ 3,394 $ 883 Total assets (end of period) $ 68,480 $ 65,112 Crude Oil Pipeline Services Service revenue: Third-party revenue $ 6,396 $ 6,691 Related-party revenue 445 266 Lease revenue: Third-party revenue 484 - Product sales revenue: Third-party revenue 235,428 231,051 Total revenue for reportable segments 242,753 238,008 Operating expense, excluding depreciation and amortization 11,828 10,743 Intersegment operating expense 5,284 6,486 Third-party cost of product sales 126,776 83,319 Related-party cost of product sales 102,469 134,162 Operating margin, excluding depreciation and amortization $ (3,604 ) $ 3,298 Additions to long-lived assets $ 19,654 $ 1,854 Total assets (end of period) $ 112,429 $ 90,939 Year ended December 31, 2018 2019 Crude Oil Trucking Services Service revenue: Third-party revenue $ 14,324 $ 11,066 Intersegment revenue 4,580 5,555 Lease revenue: Third-party revenue 219 - Product sales revenue: Third-party revenue 10 - Total revenue for reportable segments 19,133 16,621 Operating expense, excluding depreciation and amortization 19,575 16,211 Operating margin, excluding depreciation and amortization (442 ) 410 Additions to long-lived assets 3,243 2,168 Total assets (end of period) $ 4,150 $ 5,590 Total operating margin, excluding depreciation and amortization(1) $ 71,059 $ 75,833 Total segment revenues $ 390,119 $ 377,556 Elimination of intersegment revenues (5,284 ) (6,486 ) Consolidated revenues $ 384,835 $ 371,070 ( 1 The following table reconciles segment operating margin, excluding depreciation and amortization to income (loss) before income taxes (in thousands): Year ended December 31, 2018 2019 Operating margin (excluding depreciation and amortization) $ 71,059 $ 75,833 Depreciation and amortization (29,359 ) (25,533 ) General and administrative expenses (15,995 ) (14,095 ) Asset impairment expense (53,068 ) (2,476 ) Gain on sale of assets 149 453 Other income - 268 Gain on sale of unconsolidated affiliate 2,225 - Interest expense (16,860 ) (15,975 ) Income (loss) before income taxes $ (41,849 ) $ 18,475 |
Note 20 - Income Taxes
Note 20 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 2 0 . INCOME TAXES The anticipated after-tax economic benefit of an investment in the Partnership’s common units depends largely on the Partnership being treated as a partnership for federal income tax purposes. If less than 90% 7704 If the Partnership were treated as a corporation for federal income tax purposes, then it would pay federal income tax on its income at the applicable corporate tax rate and would likely pay state income tax at varying rates. Distributions would generally be taxed again to unitholders as corporate distributions and none The Partnership has entered into storage or lease contracts with third second 2009, October 2009, first 2010. none The net deferred tax effect of the taxable entity’s temporary differences at December 31, 2019 Deferred Tax Asset Difference in bases of property, plant and equipment $ 222 Net operating loss carryforwards 29 Deferred tax asset 251 Less: valuation allowance 251 Net deferred tax asset $ - The Partnership has considered the taxable income projections in future years, whether future revenue and operating cost projections will produce enough taxable income to realize the deferred tax asset based on existing service rates and cost structures, and the earnings history of the Partnership’s subsidiary that is taxed as a corporation for purposes of determining the likelihood of realizing the benefits of the deferred tax assets. As a result of the Partnership’s consideration of these factors, the Partnership has provided a full valuation allowance against its deferred tax asset as of December 31, 2019 |
Note 21 - Recently Issued Accou
Note 21 - Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 2 1 . RECENTLY ISSUED ACCOUNTING STANDARDS In February 2016, 2016 02, 842 2016 02 January 1, 2019, 3 18 In December 2019, 2019 12, 740 740. 740 three March 31, 2021. |
Note 22 - Quarterly Financial D
Note 22 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 22. QUARTERLY FINANCIAL DATA (UNAUDITED) Summarized quarterly financial data is as follows (in thousands, except per unit data): First Quarter Second Quarter Third Quarter Fourth Quarter Full Year 2018 Revenues(1) $ 44,660 $ 83,493 $ 133,158 $ 123,524 $ 384,835 Operating income (loss)(2) 5,815 6,830 6,663 (46,522 ) (27,214 ) Net income (loss)(2) 4,442 1,785 2,408 (50,682 ) (42,047 ) Basic and diluted net loss per common unit (0.05 ) (0.11 ) (0.09 ) (1.36 ) (1.61 ) 2019 Revenues $ 93,732 $ 94,076 $ 91,756 $ 91,506 $ 371,070 Operating income 8,040 7,235 10,962 7,945 34,182 Net income 3,757 3,356 6,959 4,340 18,412 Basic and diluted net income (loss) per common unit (0.06 ) (0.07 ) 0.01 (0.05 ) (0.17 ) ( 1 The increase in revenue during 2018 ( 2 Operating loss and net loss for the fourth 2018 $52.4 $53.1 |
Note 23 - Subsequent Events
Note 23 - Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 23. SUBSEQUENT EVENTS On January 2, 2020, $12.2 January 3, 2020 12 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES 1 2 3 4 5 6 |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH AND CASH EQUIVALENTS three |
Accounts Receivable [Policy Text Block] | ACCOUNTS RECEIVABLE $0.1 December 31, 2018 2019 The Partnership reviews all outstanding accounts receivable balances on a monthly basis and records a reserve for amounts that the Partnership expects will not no not |
Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY, PLANT AND EQUIPMENT not Depreciation is calculated using the straight-line method based on estimated useful lives of the assets. These estimates are based on various factors, including age (in the case of acquired assets), manufacturing specifications, technological advances and historical data concerning useful lives of similar assets. Uncertainties that impact these estimates include changes in laws and regulations relating to restoration and abandonment requirements, economic conditions and supply and demand in the area. When assets are put into service, management makes estimates with respect to useful lives and salvage values that it believes are reasonable. However, subsequent events could cause management to change its estimates, thus impacting the future calculation of depreciation. The Partnership has contractual obligations to perform dismantlement and removal activities in the event that some of its liquid asphalt terminalling assets are abandoned (see Note 15 |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS AND OTHER INTANGIBLE ASSETS not may not not During the year ended December 31, 2019, $0.3 $2.2 December 31, 2019, $10.0 December 31, 2018. 12 December 31, 2018, $40.7 $1.7 $0.4 Acquired customer relationships are capitalized and amortized over useful lives ranging from 5 20 not December 31, 2018, $0.2 The substantial or extended decline in crude oil commodity prices could result in impairments of the Partnership’s assets in the future. |
Equity Method Investments [Policy Text Block] | EQUITY METHOD INVESTMENTS 30% not not April 3, 2017, one 5 |
Debt, Policy [Policy Text Block] | DEBT ISSUANCE COSTS not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | GOODWILL not December four not 3 Changes in the carrying amount of goodwill are summarized below for the periods indicated (in thousands): Asphalt Terminalling Services Balance, December 31, 2017 $ 3,870 Acquisition 2,858 Balance, December 31, 2018 $ 6,728 There were no 2019 no 2018 2019 |
Environmental Costs, Policy [Policy Text Block] | ENVIRONMENTAL MATTERS $0.2 $0.1 December 31, 2018 2019 |
Revenue [Policy Text Block] | REVENUE RECOGNITION 606. January 1, 2019, ASC 842 January 1, 2019, not ASC 840 4 |
Income Tax, Policy [Policy Text Block] | INCOME AND OTHER TAXES $0.2 $0.1 December 31, 2018 2019, 20 |
Share-based Payment Arrangement [Policy Text Block] | STOCK-BASED COMPENSATION 4.1 The Partnership classifies unit award grants as either equity or liability awards. All award grants made under the LTIP from its inception through December 31, 2019 not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | FAIR VALUE OF FINANCIAL INSTRUMENTS |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Asphalt Terminalling Services Balance, December 31, 2017 $ 3,870 Acquisition 2,858 Balance, December 31, 2018 $ 6,728 |
Note 4 - Revenue (Tables)
Note 4 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Revenue from Contracts with Revenue from Customers(1) Leases 2020 $ 31,879 $ 56,114 2021 30,209 55,017 2022 23,198 44,262 2023 17,605 35,289 2024 8,040 18,141 Thereafter 6,719 17,575 Total revenue related to future performance obligations $ 117,650 $ 226,398 |
Disaggregation of Revenue [Table Text Block] | Year ended December 31, 2018 Asphalt Crude Oil Crude Oil Crude Oil Terminalling Terminalling Pipeline Trucking Services Services Services Services Total Third-party revenue: Fixed storage, throughput and other revenue $ 18,100 $ 10,966 $ - $ - $ 29,066 Variable throughput revenue 918 962 - - 1,880 Variable reimbursement revenue 7,090 - - - 7,090 Crude oil transportation revenue - - 6,396 14,324 20,720 Crude oil product sales revenue - - 235,428 10 235,438 Related-party revenue: Fixed storage, throughput and other revenue 15,352 - 215 - 15,567 Variable throughput revenue 762 - - - 762 Variable reimbursement revenue 5,572 - 230 - 5,802 Product sales revenue 482 - - - 482 Total revenue from contracts with customers $ 48,276 $ 11,928 $ 242,269 $ 14,334 $ 316,807 Year ended December 31, 2019 Asphalt Crude Oil Crude Oil Crude Oil Terminalling Terminalling Pipeline Trucking Services Services Services Services Total Third-party revenue: Fixed storage, throughput and other revenue $ 20,334 $ 13,065 $ - $ - $ 33,399 Variable throughput revenue 1,234 2,300 - - 3,534 Variable reimbursement revenue 7,121 - - - 7,121 Crude oil transportation revenue - - 6,691 11,066 17,757 Crude oil product sales revenue - - 231,051 - 231,051 Related-party revenue: Fixed storage, throughput and other revenue 11,314 - 229 - 11,543 Variable reimbursement revenue 4,473 - 37 - 4,510 Total revenue from contracts with customers $ 44,476 $ 15,365 $ 238,008 $ 11,066 $ 308,915 |
Note 6 - Property, Plant and _2
Note 6 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Estimated Useful Lives As of December 31, (Years) 2018 2019 (dollars in thousands) Land N/A $ 24,705 $ 24,705 Land improvements 10-20 5,758 5,831 Pipelines and facilities 5-30 116,155 105,985 Storage and terminal facilities 10-35 321,096 328,092 Transportation equipment 3-10 2,798 3,613 Office property and equipment and other 3-20 26,980 27,292 Pipeline linefill and tank bottoms N/A 10,297 8,148 Construction-in-progress N/A 4,026 3,515 Property, plant and equipment, gross 511,815 507,181 Accumulated depreciation (263,554 ) (274,404 ) Property, plant and equipment, net $ 248,261 $ 232,777 |
Note 7 - Intangible Assets, N_2
Note 7 - Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | As of December 31, 2018 2019 (in thousands) Customer relationships $ 19,214 $ 19,214 Deferred charges related to pipeline connection agreements 2,716 2,653 Intangible assets, gross 21,930 21,867 Accumulated amortization of intangible assets (5,096 ) (7,779 ) Intangible assets, net $ 16,834 $ 14,088 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For year ending: December 31, 2020 $ 2,746 December 31, 2021 2,746 December 31, 2022 2,746 December 31, 2023 1,321 December 31, 2024 1,321 Thereafter 3,208 Total estimated aggregate amortization expense $ 14,088 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Fair Value of Derivatives Not Designated as Hedging Instruments Balance Sheet Location Derivatives December 31, 2018 Interest rate swap assets - current Other current assets $ 44 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Derivatives Not Designated as Location of Gain(Loss) Recognized in Net Amount of Gain(Loss) Recognized Hedging Instruments Income on Derivatives in Net Income on Derivatives Year ended December 31, 2018 2019 Interest rate swaps Interest expense $ 201 $ (44 ) |
Note 9 - Net Income Per Limit_2
Note 9 - Net Income Per Limited Partner Unit (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2018 2019 Net income (loss) $ (42,047 ) $ 18,412 General partner interest in net income (loss) (512 ) 337 Preferred interest in net income 25,115 25,115 Net loss available to limited partners $ (66,650 ) $ (7,040 ) Basic and diluted weighted average number of units: Common units 40,348 40,755 Restricted and phantom units 1,011 1,023 Total units 41,359 41,778 Basic and diluted net loss per common unit $ (1.61 ) $ (0.17 ) |
Note 10 - Partners' Capital (_2
Note 10 - Partners' Capital (Deficit) and Distributions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | Year Paid to Preferred Partner Paid Periods Covered Total Unitholders Paid to General 2018 Quarters ending December 31, 2017, March 31, 2018, June 30, 2018 and September 30, 2018 $ 25,523 $ 25,115 $ 408 2019 Quarters ending December 31, 2018, March 31, 2019, June 30, 2019 and September 30, 2019 $ 25,521 $ 25,115 $ 406 Year Paid to Common Paid to General Paid to Phantom and Restricted Unitholders Under Paid Periods Covered Total Unitholders Partner the LTIP 2018 Quarters ending December 31, 2017, March 31, 2018, June 30, 2018 and September 30, 2018 $ 19,213 $ 18,154 $ 626 $ 433 2019 Quarters ending December 31, 2018, March 31, 2019, June 30, 2019 and September 30, 2019 $ 8,468 $ 8,150 $ 135 $ 183 |
Note 13 - Long-term Incentive_2
Note 13 - Long-term Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block] | Weighted Average Grant Date Total Fair Number of Grant Date Fair Value Grant Date Units Value (in thousands) December 2017 15,306 $ 4.85 $ 74 December 2018 23,436 $ 1.20 $ 28 December 2019 7,500 $ 1.07 $ 8 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Weighted Average Grant Date Total Fair Number of Grant Date Fair Value Grant Date Units Value (in thousands) March 2017 323,339 $ 7.15 $ 2,312 March 2018 396,536 $ 4.77 $ 1,891 March 2019 524,997 $ 1.14 $ 598 June 2019 46,168 $ 1.08 $ 50 |
Share-based Payment Arrangement, Activity [Table Text Block] | Number of Grant Date Fair Units Value Nonvested, December 31, 2018 998,219 $ 5.88 Granted 578,665 1.13 Vested 382,845 4.75 Forfeited 125,696 4.08 Nonvested, December 31, 2019 1,068,343 $ 3.42 |
Note 17 - Fair Value Measurem_2
Note 17 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of December 31, 2018 Description Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Interest rate swap assets $ 44 $ - $ 44 $ - Total swap assets $ 44 $ - $ 44 $ - |
Note 18 - Leases (Tables)
Note 18 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lessee, Assets and Liabilities, Disclosure [Table Text Block] | As of Classification December 31, 2019 (thousands) Assets Operating lease assets Operating lease assets $ 10,758 Finance lease assets Other noncurrent assets 750 Total leased assets $ 11,508 Liabilities Current Operating lease liabilities Current operating lease liability $ 2,391 Finance lease liabilities Other current liabilities 320 Noncurrent Operating lease liabilities Noncurrent operating lease liability 8,529 Finance lease liabilities Other long-term liabilities 430 Total lease liabilities $ 11,670 |
Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block] | Operating Leases Financing Leases Twelve months ending December 31, 2020 $ 2,604 $ 350 Twelve months ending December 31, 2021 2,121 277 Twelve months ending December 31, 2022 1,518 144 Twelve months ending December 31, 2023 1,432 28 Twelve months ending December 31, 2024 814 1 Thereafter 6,064 - Total 14,553 800 Less: Interest 3,633 50 Present value of lease liabilities $ 10,920 $ 750 |
Lessee, Operating Lease, Disclosure [Table Text Block] | Operating Leases Twelve months ending December 31, 2019 $ 2,862 Twelve months ending December 31, 2020 1,904 Twelve months ending December 31, 2021 1,242 Twelve months ending December 31, 2022 640 Twelve months ending December 31, 2023 548 Thereafter 1,259 Total future minimum lease payments $ 8,455 |
Lease, Cost [Table Text Block] | For the Year Ended December 31, Classification 2019 Total Lease Cost by Type: Operating lease cost(1) Operating Expense $ 3,345 Short-term lease cost Operating Expense $ 479 Finance lease cost Amortization of leased assets Operating Expense 322 Interest on lease liabilities Interest Expense 37 Net lease cost $ 4,183 Supplemental cash flow disclosures: Cash paid for amounts included in the measurement of lease liabilities: Payments on operating leases $ 2,722 Principal payments under finance lease obligations $ 267 Interest payments under finance lease obligations $ 17 Leased assets obtained in exchange for new operating lease liabilities $ 1,714 Leased assets obtained in exchange for new finance lease liabilities $ 520 As of December 31, 2019 Lease Term and Discount Rate Weighted-average remaining lease term (years) Operating leases 9.8 Finance leases 2.6 Weighted-average discount rate Operating leases 5.80 % Finance leases 4.87 % |
Note 19 - Operating Segments (T
Note 19 - Operating Segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended December 31, 2018 2019 Asphalt Terminalling Services Service revenue: Third-party revenue $ 26,108 $ 28,689 Related-party revenue 21,686 15,787 Lease revenue: Third-party revenue 41,319 41,712 Related-party revenue 25,961 20,443 Product sales revenue: Related-party revenue 482 - Total revenue for reportable segments 115,556 106,631 Operating expense, excluding depreciation and amortization 49,229 46,271 Operating margin, excluding depreciation and amortization $ 66,327 $ 60,360 Additions to long-lived assets $ 30,068 $ 7,841 Total assets (end of period) $ 138,245 $ 140,299 Crude Oil Terminalling Services Service revenue: Third-party revenue $ 11,928 $ 15,365 Intersegment revenue 704 931 Lease revenue: Third-party revenue 45 - Total revenue for reportable segments 12,677 16,296 Operating expense, excluding depreciation and amortization 3,899 4,531 Operating margin, excluding depreciation and amortization $ 8,778 $ 11,765 Additions to long-lived assets $ 3,394 $ 883 Total assets (end of period) $ 68,480 $ 65,112 Crude Oil Pipeline Services Service revenue: Third-party revenue $ 6,396 $ 6,691 Related-party revenue 445 266 Lease revenue: Third-party revenue 484 - Product sales revenue: Third-party revenue 235,428 231,051 Total revenue for reportable segments 242,753 238,008 Operating expense, excluding depreciation and amortization 11,828 10,743 Intersegment operating expense 5,284 6,486 Third-party cost of product sales 126,776 83,319 Related-party cost of product sales 102,469 134,162 Operating margin, excluding depreciation and amortization $ (3,604 ) $ 3,298 Additions to long-lived assets $ 19,654 $ 1,854 Total assets (end of period) $ 112,429 $ 90,939 Year ended December 31, 2018 2019 Crude Oil Trucking Services Service revenue: Third-party revenue $ 14,324 $ 11,066 Intersegment revenue 4,580 5,555 Lease revenue: Third-party revenue 219 - Product sales revenue: Third-party revenue 10 - Total revenue for reportable segments 19,133 16,621 Operating expense, excluding depreciation and amortization 19,575 16,211 Operating margin, excluding depreciation and amortization (442 ) 410 Additions to long-lived assets 3,243 2,168 Total assets (end of period) $ 4,150 $ 5,590 Total operating margin, excluding depreciation and amortization(1) $ 71,059 $ 75,833 Total segment revenues $ 390,119 $ 377,556 Elimination of intersegment revenues (5,284 ) (6,486 ) Consolidated revenues $ 384,835 $ 371,070 Year ended December 31, 2018 2019 Operating margin (excluding depreciation and amortization) $ 71,059 $ 75,833 Depreciation and amortization (29,359 ) (25,533 ) General and administrative expenses (15,995 ) (14,095 ) Asset impairment expense (53,068 ) (2,476 ) Gain on sale of assets 149 453 Other income - 268 Gain on sale of unconsolidated affiliate 2,225 - Interest expense (16,860 ) (15,975 ) Income (loss) before income taxes $ (41,849 ) $ 18,475 |
Note 20 - Income Taxes (Tables)
Note 20 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred Tax Asset Difference in bases of property, plant and equipment $ 222 Net operating loss carryforwards 29 Deferred tax asset 251 Less: valuation allowance 251 Net deferred tax asset $ - |
Note 22 - Quarterly Financial_2
Note 22 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Quarter Second Quarter Third Quarter Fourth Quarter Full Year 2018 Revenues(1) $ 44,660 $ 83,493 $ 133,158 $ 123,524 $ 384,835 Operating income (loss)(2) 5,815 6,830 6,663 (46,522 ) (27,214 ) Net income (loss)(2) 4,442 1,785 2,408 (50,682 ) (42,047 ) Basic and diluted net loss per common unit (0.05 ) (0.11 ) (0.09 ) (1.36 ) (1.61 ) 2019 Revenues $ 93,732 $ 94,076 $ 91,756 $ 91,506 $ 371,070 Operating income 8,040 7,235 10,962 7,945 34,182 Net income 3,757 3,356 6,959 4,340 18,412 Basic and diluted net income (loss) per common unit (0.06 ) (0.07 ) 0.01 (0.05 ) (0.17 ) |
Note 1 - Organization and Nat_2
Note 1 - Organization and Nature of Business (Details Textual) | 12 Months Ended |
Dec. 31, 2019 | |
Number of States in which Entity Operates | 27 |
Number of Operating Segments | 4 |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands, shares in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Apr. 03, 2017 | |
Accounts Receivable, Allowance for Credit Loss, Current | $ 100 | $ 100 | |
Tangible Asset Impairment Charges, Total | 274 | 42,860 | |
Other than Temporary Impairment Losses, Investments, Total | 2,202 | 10,019 | |
Impairment of Intangible Assets, Finite-lived | 189 | ||
Number of Operating Segments | 4 | ||
Goodwill, Impairment Loss | $ 0 | 0 | |
Accrual for Environmental Loss Contingencies, Ending Balance | 100 | 200 | |
Income Tax Expense (Benefit), Total | $ 63 | 198 | |
Blueknight Energy Partners GP LLC Long Term Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 4.1 | ||
State and Local Jurisdiction [Member] | |||
Income Tax Expense (Benefit), Total | $ 100 | 200 | |
Advantage Pipeline LLC [Member] | |||
Equity Method Investment, Ownership Percentage | 30.00% | ||
Customer Relationships [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Customer Relationships [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||
Pipeline Systems [Member] | |||
Tangible Asset Impairment Charges, Total | 40,700 | ||
Pipeline Linefill [Member] | |||
Tangible Asset Impairment Charges, Total | 1,700 | ||
Truck Stations [Member] | |||
Tangible Asset Impairment Charges, Total | 400 | ||
Crude Oil Pipeline Services [Member] | Customer Relationships [Member] | |||
Impairment of Intangible Assets, Finite-lived | $ 200 |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Goodwill (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Goodwill | $ 6,728 |
Asphalt Terminalling Services [Member] | |
Goodwill | 3,870 |
Acquisition | 2,858 |
Goodwill | $ 6,728 |
Note 4 - Revenue (Details Textu
Note 4 - Revenue (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Variable Lease, Income | $ 6.1 | $ 5.1 |
Billed Contracts Receivable | 23.2 | 34.6 |
Contract with Customer, Liability, Total | 3 | 5.9 |
Contract with Customer, Liability, Increase for Cash Payments Received in Advance | 2.8 | |
Variable Reimbursement Revenue [Member] | ||
Variable Lease, Income | $ 2.7 | $ 2.6 |
Note 4 - Revenue - Future Perfo
Note 4 - Revenue - Future Performance Obligations (Details) $ in Thousands | Dec. 31, 2019USD ($) | |
2020, Revenue from Leases | $ 56,114 | |
2021, Revenue from Leases | 55,017 | |
2022, Revenue from Leases | 44,262 | |
2023, Revenue from Leases | 35,289 | |
2024, Revenue from Leases | 18,141 | |
Thereafter, Revenue from Leases | 17,575 | |
Revenue related to future performance obligation | 117,650 | [1] |
Revenue from Leases | $ 226,398 | |
[1] | Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of December 31, 2019. |
Note 4 - Revenue - Future Per_2
Note 4 - Revenue - Future Performance Obligations 2 (Details) $ in Thousands | Dec. 31, 2019USD ($) | |
Revenue related to future performance obligation | $ 117,650 | [1] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | ||
Revenue related to future performance obligation | $ 31,879 | [2] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | ||
Revenue related to future performance obligation | $ 30,209 | [2] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue related to future performance obligation | $ 23,198 | [2] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue related to future performance obligation | $ 17,605 | [2] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue related to future performance obligation | $ 8,040 | [2] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Revenue related to future performance obligation | $ 6,719 | [2] |
Expected Timing of Satisfaction, Period (Year) | ||
[1] | Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of December 31, 2019. | |
[2] | Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of December 31, 2019. |
Note 4 - Revenue - Disaggregati
Note 4 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from contract with customer | $ 308,915 | $ 316,807 |
Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 44,476 | 48,276 |
Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | 15,365 | 11,928 |
Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | 238,008 | 242,269 |
Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | 11,066 | 14,334 |
Fixed Storageand Throughput Revenue [Member] | Third Party [Member] | ||
Revenue from contract with customer | 33,399 | 29,066 |
Fixed Storageand Throughput Revenue [Member] | Third Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 20,334 | 18,100 |
Fixed Storageand Throughput Revenue [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | 13,065 | 10,966 |
Fixed Storageand Throughput Revenue [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | ||
Fixed Storageand Throughput Revenue [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | ||
Fixed Storageand Throughput Revenue [Member] | Related Party [Member] | ||
Revenue from contract with customer | 11,543 | 15,567 |
Fixed Storageand Throughput Revenue [Member] | Related Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 11,314 | 15,352 |
Fixed Storageand Throughput Revenue [Member] | Related Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Fixed Storageand Throughput Revenue [Member] | Related Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | 229 | 215 |
Fixed Storageand Throughput Revenue [Member] | Related Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | ||
Variable Throughput Revenue [Member] | Third Party [Member] | ||
Revenue from contract with customer | 3,534 | 1,880 |
Variable Throughput Revenue [Member] | Third Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 1,234 | 918 |
Variable Throughput Revenue [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | 2,300 | 962 |
Variable Throughput Revenue [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | ||
Variable Throughput Revenue [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | ||
Variable Throughput Revenue [Member] | Related Party [Member] | ||
Revenue from contract with customer | 762 | |
Variable Throughput Revenue [Member] | Related Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 762 | |
Variable Throughput Revenue [Member] | Related Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Variable Throughput Revenue [Member] | Related Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | ||
Variable Throughput Revenue [Member] | Related Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | ||
Variable Reimbursement Revenue [Member] | Third Party [Member] | ||
Revenue from contract with customer | 7,121 | 7,090 |
Variable Reimbursement Revenue [Member] | Third Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 7,121 | 7,090 |
Variable Reimbursement Revenue [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Variable Reimbursement Revenue [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | ||
Variable Reimbursement Revenue [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | ||
Variable Reimbursement Revenue [Member] | Related Party [Member] | ||
Revenue from contract with customer | 4,510 | 5,802 |
Variable Reimbursement Revenue [Member] | Related Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 4,473 | 5,572 |
Variable Reimbursement Revenue [Member] | Related Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Variable Reimbursement Revenue [Member] | Related Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | 37 | 230 |
Variable Reimbursement Revenue [Member] | Related Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | ||
Crude Oil Transportation Revenue [Member] | Third Party [Member] | ||
Revenue from contract with customer | 17,757 | 20,720 |
Crude Oil Transportation Revenue [Member] | Third Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Crude Oil Transportation Revenue [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Crude Oil Transportation Revenue [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | 6,691 | 6,396 |
Crude Oil Transportation Revenue [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | 11,066 | 14,324 |
Crude Oil Product Sales Revenue [Member] | Third Party [Member] | ||
Revenue from contract with customer | 231,051 | 235,438 |
Crude Oil Product Sales Revenue [Member] | Third Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Crude Oil Product Sales Revenue [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Crude Oil Product Sales Revenue [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | 231,051 | 235,428 |
Crude Oil Product Sales Revenue [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer | 10 | |
Asphalt Product Sales Revenue [Member] | Related Party [Member] | ||
Revenue from contract with customer | 482 | |
Asphalt Product Sales Revenue [Member] | Related Party [Member] | Asphalt Terminalling Services [Member] | ||
Revenue from contract with customer | 482 | |
Asphalt Product Sales Revenue [Member] | Related Party [Member] | Crude Oil Terminalling Services [Member] | ||
Revenue from contract with customer | ||
Asphalt Product Sales Revenue [Member] | Related Party [Member] | Crude Oil Pipeline Services [Member] | ||
Revenue from contract with customer | ||
Asphalt Product Sales Revenue [Member] | Related Party [Member] | Crude Oil Trucking Services [Member] | ||
Revenue from contract with customer |
Note 5 - Equity Method Invest_2
Note 5 - Equity Method Investment (Details Textual) - USD ($) $ in Thousands | Apr. 03, 2017 | Jan. 31, 2018 | Aug. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 |
Proceeds from Sale of Equity Method Investments | $ 2,225 | ||||
Equity Method Investment, Realized Gain (Loss) on Disposal, Total | $ 2,225 | ||||
Equity Method Investments | $ 0 | ||||
Advantage Pipeline LLC [Member] | |||||
Equity Method Investment, Ownership Percentage | 30.00% | ||||
Proceeds from Sale of Equity Method Investments | $ 25,300 | $ 2,200 | $ 1,100 | ||
Equity Method Investment, Realized Gain (Loss) on Disposal, Total | $ 4,200 | ||||
Proceeds from Sale of Equity Method Investment, Percent Held In Escrow | 10.00% |
Note 6 - Property, Plant and _3
Note 6 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | Mar. 07, 2018 | Jan. 31, 2019 | Apr. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Jul. 12, 2018 |
Property Subject to or Available for Operating Lease, Gross | $ 287,700 | |||||
Property Subject to or Available for Operating Lease, Accumulated Depreciation | 181,400 | |||||
Depreciation, Total | 22,500 | $ 26,900 | ||||
Proceeds from Sale of Property, Plant, and Equipment, Total | 8,410 | 5,051 | ||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | 453 | 149 | ||||
Tangible Asset Impairment Charges, Total | 274 | 42,860 | ||||
Asphalt Terminalling Facility in Oklahoma [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 22,000 | |||||
Divestiture [Member] | Disposal Group, Not Discontinued Operations [Member] | ||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 90,000 | |||||
Producer Field Services Business [Member] | Disposal Group, Not Discontinued Operations [Member] | ||||||
Proceeds from Divestiture of Businesses | $ 3,000 | |||||
Gain (Loss) on Disposition of Business | $ 400 | |||||
Various Surplus Assets [Member] | ||||||
Proceeds from Sale of Property, Plant, and Equipment, Total | 5,700 | |||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ (500) | |||||
Pipeline Linefill [Member] | ||||||
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 2,600 | |||||
Tangible Asset Impairment Charges, Total | 1,700 | |||||
Pipeline Systems [Member] | ||||||
Tangible Asset Impairment Charges, Total | 40,700 | |||||
Truck Stations [Member] | ||||||
Tangible Asset Impairment Charges, Total | $ 400 |
Note 6 - Property, Plant and _4
Note 6 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Property, plant and equipment, gross | $ 507,181 | $ 511,815 |
Accumulated depreciation | (274,404) | (263,554) |
Property, plant and equipment, net | 232,777 | 248,261 |
Land [Member] | ||
Property, plant and equipment, gross | 24,705 | 24,705 |
Land Improvements [Member] | ||
Property, plant and equipment, gross | $ 5,831 | 5,758 |
Land Improvements [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 10 years | |
Land Improvements [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 20 years | |
Pipelines [Member] | ||
Property, plant and equipment, gross | $ 105,985 | 116,155 |
Pipelines [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 5 years | |
Pipelines [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 30 years | |
Storage and Terminal Facilities [Member] | ||
Property, plant and equipment, gross | $ 328,092 | 321,096 |
Storage and Terminal Facilities [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 10 years | |
Storage and Terminal Facilities [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 35 years | |
Transportation Equipment [Member] | ||
Property, plant and equipment, gross | $ 3,613 | 2,798 |
Transportation Equipment [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 3 years | |
Transportation Equipment [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 10 years | |
Office Equipment [Member] | ||
Property, plant and equipment, gross | $ 27,292 | 26,980 |
Office Equipment [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 3 years | |
Office Equipment [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 20 years | |
Pipeline Linefill and Tank Bottoms [Member] | ||
Property, plant and equipment, gross | $ 8,148 | 10,297 |
Construction in Progress [Member] | ||
Property, plant and equipment, gross | $ 3,515 | $ 4,026 |
Note 7 - Intangible Assets, N_3
Note 7 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Feb. 29, 2016 | Nov. 30, 2015 | Dec. 31, 2019 | Dec. 31, 2018 | |
Amortization of Intangible Assets, Total | $ 2,700 | $ 2,500 | |||
Impairment of Intangible Assets, Finite-lived | 189 | ||||
Customer Relationships [Member] | Crude Oil Pipeline Services [Member] | |||||
Impairment of Intangible Assets, Finite-lived | 200 | ||||
Customer Relationships [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||
Customer Relationships [Member] | Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||||
Customer Contracts [Member] | Crude Oil Pipeline Services [Member] | |||||
Impairment of Intangible Assets, Finite-lived | $ 200 | ||||
Asphalt Terminalling Services [Member] | Customer Relationships [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 7,600 | $ 8,400 | |||
Crude Oil Pipeline Services [Member] | Customer Relationships [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 3,200 |
Note 7 - Intangibles and Other
Note 7 - Intangibles and Other Assets, Net Other Assets - Net of Accumulated Depreciation (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Customer relationships | $ 19,214 | $ 19,214 |
Deferred charges related to pipeline connection agreements | 2,653 | 2,716 |
Intangible assets, gross | 21,867 | 21,930 |
Accumulated amortization of intangible assets | (7,779) | (5,096) |
Total estimated aggregate amortization expense | $ 14,088 | $ 16,834 |
Note 7 - Intangibles and Othe_2
Note 7 - Intangibles and Other Assets - Net Estimated Aggregate Amortization Expense On Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
December 31, 2020 | $ 2,746 | |
December 31, 2021 | 2,746 | |
December 31, 2022 | 2,746 | |
December 31, 2023 | 1,321 | |
December 31, 2024 | 1,321 | |
Thereafter | 3,208 | |
Total estimated aggregate amortization expense | $ 14,088 | $ 16,834 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018USD ($) | Mar. 31, 2020 | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 23, 2020USD ($) | Jan. 28, 2019USD ($) | Jun. 27, 2018USD ($) | |
Consolidated Total Leverage Ratio | 4.05 | ||||||
Consolidated Interest Coverage Ratio | 4.24 | ||||||
Long-term Debt, Total | $ 255,600 | ||||||
Payments of Debt Issuance Costs | $ 358 | ||||||
Amortization of Debt Issuance Costs | 1,005 | 1,451 | |||||
Interest Expense, Long-term Debt, Total | 15,900 | 16,800 | |||||
Interest Income, Other | $ 100 | 100 | |||||
Interest Rate Swap [Member] | |||||||
Derivative, Number of Instruments Held, Total | 0 | ||||||
Derivative, Notional Amount | $ 100,000 | ||||||
Credit Agreement [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity Including Additional Lenders | $ 600,000 | ||||||
Debt Instrument Covenant, Issued Qualified Senior Notes | $ 200,000 | ||||||
Debt Instrument Covenant, Prior to Issuance of Qualified Senior Notes, Maximum Permitted Consolidated Total Leverage Ratio | 5 | ||||||
Debt Instrument Covenant, Prior to Issuance of Qualified Senior Notes, Based on Occurence of Acquisition, Maximum Permitted Consolidated Total Leverage Ratio | 5.25 | ||||||
Debt Instrument Covenant, Specified Acquisition, Aggregate Consideration | $ 15,000 | ||||||
Debt Instrument Covenant, After Issuance of Qualified Senior Notes, Based on Occurence of Acquisition, Maximum Permitted Consolidated Total Leverage Ratio | 5.5 | ||||||
Debt Instrument Covenant, Maximum Permitted Consolidated Senior Secured Leverage Ratio | 3.5 | ||||||
Debt Instrument Covenant, Minimum Permitted Consolidated Interest Coverage Ratio | 2.5 | ||||||
Maximum Quarterly Distribution | $ 10,700 | ||||||
Debt Instrument Covenant, Default, Percentage of General Partner Interest Cease | 100.00% | ||||||
Write off of Deferred Debt Issuance Cost | $ 400 | ||||||
Payments of Debt Issuance Costs | 400 | ||||||
Amortization of Debt Issuance Costs | $ 1,000 | $ 1,000 | |||||
Debt Instrument, Interest Rate During Period | 6.00% | 5.49% | |||||
Credit Agreement [Member] | Ergon [Member] | |||||||
Debt Instrument Covenant, Default, Percentage of Membership Interest Cease | 50.00% | ||||||
Credit Agreement [Member] | Forecast [Member] | |||||||
Debt Instrument Covenant, Prior to Issuance of Qualified Senior Notes, Maximum Permitted Consolidated Total Leverage Ratio | 4.75 | ||||||
Credit Agreement [Member] | Federal Funds Effective Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||
Credit Agreement [Member] | Eurodollar Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||
Credit Agreement [Member] | Minimum [Member] | |||||||
Line of Credit Facility, Commitment Fee Percentage | 0.375% | ||||||
Credit Agreement [Member] | Minimum [Member] | Applicable Margin Based on Eurodollar Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||
Credit Agreement [Member] | Minimum [Member] | Applicable Margin on Based on Alternate Base Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||
Credit Agreement [Member] | Maximum [Member] | |||||||
Line of Credit Facility, Commitment Fee Percentage | 0.50% | ||||||
Credit Agreement [Member] | Maximum [Member] | Applicable Margin Based on Eurodollar Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | ||||||
Credit Agreement [Member] | Maximum [Member] | Applicable Margin on Based on Alternate Base Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||||
Credit Agreement [Member] | Subsequent Event [Member] | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 125,400 | ||||||
Credit Agreement [Member] | Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | $ 450,000 | |||||
Credit Agreement [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||||
Long-term Line of Credit, Total | 273,600 | ||||||
Credit Agreement [Member] | Letter of Credit [Member] | Subsequent Event [Member] | |||||||
Letters of Credit Outstanding, Amount | $ 1,000 |
Note 8 - Debt - Assets and Liab
Note 8 - Debt - Assets and Liabilities Related to Interest Rate Swap Agreement (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Interest Rate Swap [Member] | Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | |
Interest rate swap assets - current | $ 44 |
Note 8 - Debt - Interest Rate S
Note 8 - Debt - Interest Rate Swap Reflected in Unaudited Condensed of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Interest rate swaps | $ (44) | $ 201 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Interest Expense [Member] | ||
Interest rate swaps | $ (44) | $ 201 |
Note 9 - Net Income Per Limit_3
Note 9 - Net Income Per Limited Partner Unit - Earning Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | ||||||
Net income (loss) | $ 4,340 | $ 6,959 | $ 3,356 | $ 3,757 | $ (50,682) | [1] | $ 2,408 | [1] | $ 1,785 | [1] | $ 4,442 | [1] | $ 18,412 | $ (42,047) | [1] |
General partner interest in net income (loss) | 337 | (512) | |||||||||||||
Preferred interest in net income | 25,115 | 25,115 | |||||||||||||
Net loss available to limited partners | $ (7,040) | $ (66,650) | |||||||||||||
Common units (in shares) | 40,755 | 40,348 | |||||||||||||
Restricted and phantom units (in shares) | 1,023 | 1,011 | |||||||||||||
Total units (in shares) | 41,778 | 41,359 | |||||||||||||
Basic and diluted net loss per common unit (in dollars per share) | $ (0.05) | $ 0.01 | $ (0.07) | $ (0.06) | $ (1.36) | $ (0.09) | $ (0.11) | $ (0.05) | $ (0.17) | $ (1.61) | |||||
[1] | Operating loss and net loss for the fourth quarter and full year 2018 are impacted by asset impairment charges of $52.4 million and $53.1 million, respectively. |
Note 10 - Partners' Capital (_3
Note 10 - Partners' Capital (Deficit) and Distributions (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended |
Dec. 31, 2019 | Dec. 31, 2019 | |
Preferred Unit, Cash Distribution [Member] | ||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 6.4 | |
Common Unit, Cash Distribution [Member] | ||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.04 | |
Distribution Made to Limited Partner, Declaration Date | Jan. 22, 2020 | |
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2020 | |
Distribution Made to Limited Partner, Date of Record | Feb. 4, 2020 | |
Distribution Made to Limited Partner, Cash Distributions Declared | $ 1.7 | |
Preferred Partner [Member] | First Tier Cash Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 98.40% | |
Preferred Partner [Member] | Second Tier Cash Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 98.40% | |
Preferred Partner [Member] | Quarterly Distributions [Member] | ||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.17875 | |
Preferred Partner [Member] | Preferred Unit, Cash Distribution [Member] | ||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.17875 | |
Distribution Made to Limited Partner, Declaration Date | Jan. 22, 2020 | |
Distribution Made to Limited Partner, Distribution Date | Feb. 14, 2020 | |
Distribution Made to Limited Partner, Date of Record | Feb. 4, 2020 | |
Distribution Made to Limited Partner, Cash Distributions Declared | $ 6.3 | |
General Partner [Member] | First Tier Cash Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 1.60% | |
General Partner [Member] | Second Tier Cash Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 1.60% | |
General Partner [Member] | Third Tier Cash Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 1.60% | |
General Partner [Member] | First Tier Incentive Distribution Rights Percentage Increase [Member] | ||
Incentive Distribution Rights, Percentage Increase | 13.00% | |
General Partner [Member] | Second Tier Incentive Distribution Rights Percentage Increase [Member] | ||
Incentive Distribution Rights, Percentage Increase | 23.00% | |
General Partner [Member] | Third Tier Incentive Distribution Rights Percentage Increase [Member] | ||
Incentive Distribution Rights, Percentage Increase | 48.00% | |
General Partner [Member] | First Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 1.60% | |
General Partner [Member] | Second Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 14.60% | |
General Partner [Member] | Third Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 24.60% | |
General Partner [Member] | Fourth Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 49.60% | |
General Partner [Member] | Preferred Unit, Cash Distribution [Member] | ||
Distribution Made to Limited Partner, Cash Distributions Declared | 0.1 | |
General Partner [Member] | Common Unit, Cash Distribution [Member] | Maximum [Member] | ||
Distribution Made to Limited Partner, Cash Distributions Declared | 0.1 | |
General Partner [Member] | Phantom and Restricted Units Holders [Member] | Maximum [Member] | ||
Distribution Made to Limited Partner, Cash Distributions Declared | 0.1 | |
Limited Partner [Member] | ||
Minimum Distribution, Per Common Unit Per Quarter | $ 0.11 | |
Limited Partner [Member] | Third Tier Cash Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 98.40% | |
Limited Partner [Member] | First Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 98.40% | |
Limited Partner [Member] | Second Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 85.40% | |
Limited Partner [Member] | Third Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 75.40% | |
Limited Partner [Member] | Fourth Tier Target Distribution [Member] | ||
Partners' Capital Account, Distributions, Allocation Percentage | 50.40% | |
Limited Partner [Member] | Common Unit, Cash Distribution [Member] | ||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 1.6 | |
Limited and General Partners [Member] | First Tier Target Distribution [Member] | ||
Target Quarterly Distribution | $ 0.1265 | |
Limited and General Partners [Member] | Second Tier Target Distribution [Member] | ||
Target Quarterly Distribution | 0.1375 | |
Limited and General Partners [Member] | Third Tier Target Distribution [Member] | ||
Target Quarterly Distribution | $ 0.1825 |
Note 10 - Partners' Capital (_4
Note 10 - Partners' Capital (Deficit) and Distributions - Distributions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Preferred Unit, Cash Distribution [Member] | ||
Distributions | $ 25,521 | $ 25,523 |
Preferred Unit, Cash Distribution [Member] | Preferred Partner [Member] | ||
Distributions | 25,115 | 25,115 |
Preferred Unit, Cash Distribution [Member] | General Partner [Member] | ||
Distributions | 406 | 408 |
Common Unit, Cash Distribution [Member] | ||
Distributions | 8,468 | 19,213 |
Common Unit, Cash Distribution [Member] | General Partner [Member] | ||
Distributions | 135 | 626 |
Common Unit, Cash Distribution [Member] | Limited Partner [Member] | ||
Distributions | 8,150 | 18,154 |
Common Unit, Cash Distribution [Member] | Phantom and Restricted Units Holders [Member] | ||
Distributions | $ 183 | $ 433 |
Note 11 - Major Customers and_2
Note 11 - Major Customers and Concentration of Credit Risk (Details Textual) - Customer Concentration Risk [Member] - Revenue Benchmark [Member] | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Ergon [Member] | ||
Concentration Risk, Percentage | 10.00% | 13.00% |
One Third Party Customer [Member] | ||
Concentration Risk, Percentage | 65.00% | 10.00% |
Two Other Third Party Customer [Member] | ||
Concentration Risk, Percentage | 15.00% |
Note 12 - Related-Party Trans_2
Note 12 - Related-Party Transactions (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Due from Related Parties, Current, Total | $ 1,043 | $ 1,110 | $ 1,043 | |
Payments to Acquire Property, Plant, and Equipment, Total | 12,746 | 34,400 | ||
Tangible Asset Impairment Charges, Total | 274 | 42,860 | ||
Other than Temporary Impairment Losses, Investments, Total | 2,202 | 10,019 | ||
Equity Method Investments | 0 | |||
Cimarron Express [Member] | ||||
Other than Temporary Impairment Losses, Investments, Total | 2,200 | 10,000 | ||
Interest Costs Capitalized | 2,000 | |||
Ergon [Member] | ||||
Equity Method Investments | $ 10,200 | |||
Ergon [Member] | Cimarron Express [Member] | ||||
Other than Temporary Impairment Losses, Investments, Total | 10,000 | |||
Ergon [Member] | Cimarron Express [Member] | ||||
Noncontrolling Interest, Ownership Percentage by Parent | 50.00% | |||
Cimarron Express [Member] | ||||
Payments to Acquire Property, Plant, and Equipment, Total | 30,600 | |||
Tangible Asset Impairment Charges, Total | 20,900 | |||
Gain (Loss) on Disposition of Assets, Total | $ 1,400 | |||
Ergon [Member] | ||||
Revenue from Related Parties | $ 36,200 | 48,500 | ||
Due from Related Parties, Current, Total | $ 1,000 | 1,100 | 1,000 | |
Ergon [Member] | Crude Oil Purchase Agreement [Member] | ||||
Related Party Transaction, Purchases from Related Party | 133,500 | 108,800 | ||
Accounts Payable, Related Parties | 11,800 | |||
Ergon [Member] | Ergon 2017 Lubbock and Saginaw Storage and Handling Agreement [Member] | ||||
Revenue from Related Parties | 6,700 | |||
Ergon [Member] | Ergon 2016 Storage and Handling Agreement [Member] | ||||
Revenue from Related Parties | 20,000 | 24,800 | ||
Ergon [Member] | Ergon Fontana and Las Vegas Storage Throughput and Handling Agreement [Member] | ||||
Revenue from Related Parties | 6,000 | 6,600 | ||
Ergon [Member] | Ergon Lessee Operated Facility Lease Agreement [Member] | ||||
Operating Lease, Lease Income, Total | $ 8,300 | |||
Ergon [Member] | Ergon Master Facilities Lease and Sublease Agreement [Member] | ||||
Operating Lease, Lease Income, Total | 5,300 | |||
Ergon [Member] | Ergon Master Facilities Sublease and Sublicense Agreement [Member] | ||||
Operating Lease, Lease Income, Total | $ 2,800 |
Note 13 - Long-term Incentive_3
Note 13 - Long-term Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Share-based Payment Arrangement, Noncash Expense, Total | $ 973 | $ 1,845 | ||
Long-Term Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,100,000 | |||
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.07 | $ 1.20 | $ 4.85 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 7,500 | 23,436 | 15,306 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Total Fair Value | $ 8 | $ 28 | $ 74 | |
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Long-Term Incentive Plan [Member] | Common Unit [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.20 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 21,875 | |||
Long-Term Incentive Plan [Member] | Common Unit [Member] | Director [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Total Fair Value | $ 100 | |||
Long-Term Incentive Plan [Member] | Phantom and Restricted Units Holders [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.13 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 578,665 | |||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 900 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 382,845 | |||
Share-based Payment Arrangement, Noncash Expense, Total | $ 1,100 | $ 2,200 | ||
Long-Term Incentive Plan [Member] | Phantom and Restricted Units Holders [Member] | Subsequent Event [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 227,701 |
Note 13 - Long-term Incentive_4
Note 13 - Long-term Incentive Plan - Information on Outstanding Grants Made to Directors Under the LTIP (Details) - Long-Term Incentive Plan [Member] - Restricted Stock [Member] - Director [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Granted, number of units (in shares) | 7,500 | 23,436 | 15,306 |
Granted, weighted average grant date fair value (in dollars per share) | $ 1.07 | $ 1.20 | $ 4.85 |
Grant Date Total Fair Value | $ 8 | $ 28 | $ 74 |
Note 13 - Long-term Incentive_5
Note 13 - Long-term Incentive Plan - Information on Outstanding Grants Made to Employees Under the LTIP (Details) - Long-Term Incentive Plan [Member] - Phantom Share Units (PSUs) [Member] - Employees [Member] - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Granted, number of units (in shares) | 46,168 | 524,997 | 396,536 | 323,339 |
Granted, weighted average grant date fair value (in dollars per share) | $ 1.08 | $ 1.14 | $ 4.77 | $ 7.15 |
Grant Date Total Fair Value | $ 50 | $ 598 | $ 1,891 | $ 2,312 |
Note 13 - Long-term Incentive_6
Note 13 - Long-term Incentive Plan - Activity Pertaining to Phantom and Restricted Common Stock Unit Awards (Details) - Long-Term Incentive Plan [Member] - Phantom and Restricted Units Holders [Member] | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Nonvested, number of units, beginning balance (in shares) | shares | 998,219 |
Nonvested, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 5.88 |
Granted, number of units (in shares) | shares | 578,665 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.13 |
Vested, number of units (in shares) | shares | 382,845 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 4.75 |
Forfeited, number of units (in shares) | shares | 125,696 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 4.08 |
Nonvested, number of units, ending balance (in shares) | shares | 1,068,343 |
Nonvested, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 3.42 |
Note 14 - Employee Benefit Pl_2
Note 14 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Partnership's Employee Unit Purchase Plan [Member] | ||
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total | 1,000,000 | |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 0.1 | $ 0.1 |
Partnership's 401(k) Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 1.1 | 1.2 |
Defined Contribution Plan, Employer Discretionary Profit Sharing Contribution Amount | $ 0.7 | $ 0.2 |
Note 16 - Environmental Remed_2
Note 16 - Environmental Remediation (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accrual for Environmental Loss Contingencies, Ending Balance | $ 100 | $ 200 |
Note 17 - Fair Value Measurem_3
Note 17 - Fair Value Measurements - Recurring Financial Assets and Liabilities Subject to Fair Value Measurements (Details) - Fair Value, Recurring [Member] $ in Thousands | Dec. 31, 2018USD ($) |
Interest Rate Swap [Member] | |
Interest rate swap assets | $ 44 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | |
Interest rate swap assets | |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | |
Interest rate swap assets | 44 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | |
Interest rate swap assets | |
Swap [Member] | |
Total swap assets | 44 |
Swap [Member] | Fair Value, Inputs, Level 1 [Member] | |
Total swap assets | |
Swap [Member] | Fair Value, Inputs, Level 2 [Member] | |
Total swap assets | 44 |
Swap [Member] | Fair Value, Inputs, Level 3 [Member] | |
Total swap assets |
Note 18 - Leases (Details Textu
Note 18 - Leases (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 10,758 | ||
Operating Lease, Liability, Total | $ 10,920 | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 11,800 | ||
Operating Lease, Liability, Total | $ 11,900 |
Note 18 - Leases - Assets and L
Note 18 - Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Operating lease assets | $ 10,758 | |
Finance lease assets | 750 | |
Total leased assets | 11,508 | |
Current operating lease liability | 2,391 | |
Finance lease liabilities, current | 320 | |
Noncurrent operating lease liability | 8,529 | |
Finance lease liabilities, noncurrent | 430 | |
Total lease liabilities | $ 11,670 |
Note 18 - Leases - Maturity of
Note 18 - Leases - Maturity of Lease Liabilities (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Twelve months ending December 31, 2020, operating leases | $ 2,604 |
Twelve months ending December 31, 2020, financing leases | 350 |
Twelve months ending December 31, 2021, operating leases | 2,121 |
Twelve months ending December 31, 2021, financing leases | 277 |
Twelve months ending December 31, 2022, operating leases | 1,518 |
Twelve months ending December 31, 2022, financing leases | 144 |
Twelve months ending December 31, 2023, operating leases | 1,432 |
Twelve months ending December 31, 2023, financing leases | 28 |
Twelve months ending December 31, 2024, operating leases | 814 |
Twelve months ending December 31, 2024, financing leases | 1 |
Thereafter, operating leases | 6,064 |
Thereafter, financing leases | |
Total, operating leases | 14,553 |
Total, financing leases | 800 |
Less: Interest, operating leases | 3,633 |
Less: Interest, financing leases | 50 |
Present value of operating lease liabilities | 10,920 |
Present value of financing lease liabilities | $ 750 |
Note 18 - Leases - Future Non-c
Note 18 - Leases - Future Non-cancellable Commitments Related to Operating Leases, ASC 840 (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Twelve months ending December 31, 2019 | $ 2,862 |
Twelve months ending December 31, 2020 | 1,904 |
Twelve months ending December 31, 2021 | 1,242 |
Twelve months ending December 31, 2022 | 640 |
Twelve months ending December 31, 2023 | 548 |
Thereafter, operating leases | 1,259 |
Total future minimum lease payments, operating leases | $ 8,455 |
Note 18 - Leases - Total Lease
Note 18 - Leases - Total Lease Cost by Type (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | ||
Operating lease cost | $ 3,345 | [1] |
Short-term lease cost | 479 | |
Amortization of leased assets | 322 | |
Interest on lease liabilities | 37 | |
Net lease cost | 4,183 | |
Payments on operating leases | 2,722 | |
Principal payments under finance lease obligations | 267 | |
Interest payments under finance lease obligations | 17 | |
Leased assets obtained in exchange for new operating lease liabilities | 1,714 | |
Leased assets obtained in exchange for new finance lease liabilities | $ 520 | |
Operating leases (Year) | 9 years 292 days | |
Finance leases (Year) | 2 years 219 days | |
Operating leases | 5.80% | |
Finance leases | 4.87% | |
[1] | Includes short-term and variable lease costs, which are immaterial. |
Note 19 - Operating Segments (D
Note 19 - Operating Segments (Details Textual) | 12 Months Ended |
Dec. 31, 2019 | |
Number of Operating Segments | 4 |
Number of Asphalt Terminalling Facilities | 53 |
Number of States Where Asphalt Terminalling Facilities are Located | 26 |
Note 19 - Operating Segments -
Note 19 - Operating Segments - Financial Data for Each Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | [1] | Jun. 30, 2018 | [1] | Mar. 31, 2018 | [1] | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Revenue from contract with customer | $ 308,915 | $ 316,807 | ||||||||||||||
Revenues | $ 91,506 | $ 91,756 | $ 94,076 | $ 93,732 | $ 123,524 | [1] | $ 133,158 | $ 83,493 | $ 44,660 | 371,070 | 384,835 | [1] | ||||
Operating margin, excluding depreciation and amortization | 75,833 | 71,059 | ||||||||||||||
Total assets (end of period) | 301,940 | 323,304 | 301,940 | 323,304 | ||||||||||||
Depreciation and amortization | (25,533) | (29,359) | ||||||||||||||
General and administrative expenses | (14,095) | (15,995) | ||||||||||||||
Asset impairment expense | (52,400) | (2,476) | (53,068) | |||||||||||||
Gain on sale of assets | 453 | 149 | ||||||||||||||
Other income | 268 | |||||||||||||||
Gain on sale of unconsolidated affiliate | 2,225 | |||||||||||||||
Interest expense | (15,975) | (16,860) | ||||||||||||||
Income (loss) before income taxes | 18,475 | (41,849) | ||||||||||||||
Intersegment Eliminations [Member] | ||||||||||||||||
Revenues | (6,486) | (5,284) | ||||||||||||||
Operating Segments [Member] | ||||||||||||||||
Revenues | 377,556 | 390,119 | ||||||||||||||
Operating margin, excluding depreciation and amortization | [2] | 75,833 | 71,059 | |||||||||||||
Third Party [Member] | ||||||||||||||||
Lease revenue | 41,712 | 42,067 | ||||||||||||||
Cost of product sales | 83,319 | 126,776 | ||||||||||||||
Related Party [Member] | ||||||||||||||||
Lease revenue | 20,443 | 25,961 | ||||||||||||||
Cost of product sales | 134,162 | 102,469 | ||||||||||||||
Asphalt Terminalling Services [Member] | ||||||||||||||||
Revenue from contract with customer | 44,476 | 48,276 | ||||||||||||||
Revenues | 106,631 | 115,556 | ||||||||||||||
Operating expense, excluding depreciation and amortization | 46,271 | 49,229 | ||||||||||||||
Operating margin, excluding depreciation and amortization | 60,360 | 66,327 | ||||||||||||||
Additions to long-lived assets | 7,841 | 30,068 | ||||||||||||||
Total assets (end of period) | 140,299 | 138,245 | 140,299 | 138,245 | ||||||||||||
Asphalt Terminalling Services [Member] | Third Party [Member] | ||||||||||||||||
Lease revenue | 41,712 | 41,319 | ||||||||||||||
Asphalt Terminalling Services [Member] | Related Party [Member] | ||||||||||||||||
Lease revenue | 20,443 | 25,961 | ||||||||||||||
Crude Oil Trucking Services [Member] | ||||||||||||||||
Revenue from contract with customer | 11,066 | 14,334 | ||||||||||||||
Revenues | 16,621 | 19,133 | ||||||||||||||
Operating expense, excluding depreciation and amortization | 16,211 | 19,575 | ||||||||||||||
Operating margin, excluding depreciation and amortization | 410 | (442) | ||||||||||||||
Additions to long-lived assets | 2,168 | 3,243 | ||||||||||||||
Total assets (end of period) | 5,590 | 4,150 | 5,590 | 4,150 | ||||||||||||
Crude Oil Trucking Services [Member] | Third Party [Member] | ||||||||||||||||
Lease revenue | 219 | |||||||||||||||
Crude Oil Terminalling Services [Member] | ||||||||||||||||
Revenue from contract with customer | 15,365 | 11,928 | ||||||||||||||
Revenues | 16,296 | 12,677 | ||||||||||||||
Operating expense, excluding depreciation and amortization | 4,531 | 3,899 | ||||||||||||||
Operating margin, excluding depreciation and amortization | 11,765 | 8,778 | ||||||||||||||
Additions to long-lived assets | 883 | 3,394 | ||||||||||||||
Total assets (end of period) | 65,112 | 68,480 | 65,112 | 68,480 | ||||||||||||
Crude Oil Terminalling Services [Member] | Third Party [Member] | ||||||||||||||||
Lease revenue | 45 | |||||||||||||||
Crude Oil Pipeline Services [Member] | ||||||||||||||||
Revenue from contract with customer | 238,008 | 242,269 | ||||||||||||||
Revenues | 238,008 | 242,753 | ||||||||||||||
Operating expense, excluding depreciation and amortization | 10,743 | 11,828 | ||||||||||||||
Operating margin, excluding depreciation and amortization | 3,298 | (3,604) | ||||||||||||||
Additions to long-lived assets | 1,854 | 19,654 | ||||||||||||||
Total assets (end of period) | $ 90,939 | $ 112,429 | 90,939 | 112,429 | ||||||||||||
Crude Oil Pipeline Services [Member] | Intersegment Eliminations [Member] | ||||||||||||||||
Intersegment operating expense | 6,486 | 5,284 | ||||||||||||||
Crude Oil Pipeline Services [Member] | Third Party [Member] | ||||||||||||||||
Lease revenue | 484 | |||||||||||||||
Cost of product sales | 83,319 | 126,776 | ||||||||||||||
Crude Oil Pipeline Services [Member] | Related Party [Member] | ||||||||||||||||
Cost of product sales | 134,162 | 102,469 | ||||||||||||||
Service [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 61,811 | 58,756 | ||||||||||||||
Service [Member] | Related Party [Member] | ||||||||||||||||
Revenue from contract with customer | 16,053 | 22,131 | ||||||||||||||
Service [Member] | Asphalt Terminalling Services [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 28,689 | 26,108 | ||||||||||||||
Service [Member] | Asphalt Terminalling Services [Member] | Related Party [Member] | ||||||||||||||||
Revenue from contract with customer | 15,787 | 21,686 | ||||||||||||||
Service [Member] | Crude Oil Trucking Services [Member] | Intersegment Eliminations [Member] | ||||||||||||||||
Revenue from contract with customer | 5,555 | 4,580 | ||||||||||||||
Service [Member] | Crude Oil Trucking Services [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 11,066 | 14,324 | ||||||||||||||
Service [Member] | Crude Oil Terminalling Services [Member] | Intersegment Eliminations [Member] | ||||||||||||||||
Revenue from contract with customer | 931 | 704 | ||||||||||||||
Service [Member] | Crude Oil Terminalling Services [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 15,365 | 11,928 | ||||||||||||||
Service [Member] | Crude Oil Pipeline Services [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 6,691 | 6,396 | ||||||||||||||
Service [Member] | Crude Oil Pipeline Services [Member] | Related Party [Member] | ||||||||||||||||
Revenue from contract with customer | 266 | 445 | ||||||||||||||
Product [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 231,051 | 235,438 | ||||||||||||||
Product [Member] | Related Party [Member] | ||||||||||||||||
Revenue from contract with customer | 482 | |||||||||||||||
Product [Member] | Asphalt Terminalling Services [Member] | Related Party [Member] | ||||||||||||||||
Revenue from contract with customer | 482 | |||||||||||||||
Product [Member] | Crude Oil Trucking Services [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | 10 | |||||||||||||||
Product [Member] | Crude Oil Pipeline Services [Member] | Third Party [Member] | ||||||||||||||||
Revenue from contract with customer | $ 231,051 | $ 235,428 | ||||||||||||||
[1] | The increase in revenue during 2018 is due to an increase in volume in the Partnership's crude oil marketing business. | |||||||||||||||
[2] | The following table reconciles segment operating margin (excluding depreciation and amortization) to income before income taxes (in thousands): |
Note 20 - Income Taxes - Deferr
Note 20 - Income Taxes - Deferred Tax Asset (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Difference in bases of property, plant and equipment | $ 222 |
Net operating loss carryforwards | 29 |
Deferred tax asset | 251 |
Less: valuation allowance | 251 |
Net deferred tax asset |
Note 22 - Quarterly Financial_3
Note 22 - Quarterly Financial Data (Unaudited) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Asset Impairment Charges, Total | $ 52,400 | $ 2,476 | $ 53,068 |
Note 22 - Quarterly financial_4
Note 22 - Quarterly financial Data (Unaudited) - Summarized Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | ||||||
Revenues | $ 91,506 | $ 91,756 | $ 94,076 | $ 93,732 | $ 123,524 | [1] | $ 133,158 | [1] | $ 83,493 | [1] | $ 44,660 | [1] | $ 371,070 | $ 384,835 | [1] |
Operating income (loss) | 7,945 | 10,962 | 7,235 | 8,040 | (46,522) | [2] | 6,663 | [2] | 6,830 | [2] | 5,815 | [2] | 34,182 | (27,214) | [2] |
Net income (loss) | $ 4,340 | $ 6,959 | $ 3,356 | $ 3,757 | $ (50,682) | [2] | $ 2,408 | [2] | $ 1,785 | [2] | $ 4,442 | [2] | $ 18,412 | $ (42,047) | [2] |
Basic and diluted net loss per common unit (in dollars per share) | $ (0.05) | $ 0.01 | $ (0.07) | $ (0.06) | $ (1.36) | $ (0.09) | $ (0.11) | $ (0.05) | $ (0.17) | $ (1.61) | |||||
[1] | The increase in revenue during 2018 is due to an increase in volume in the Partnership's crude oil marketing business. | ||||||||||||||
[2] | Operating loss and net loss for the fourth quarter and full year 2018 are impacted by asset impairment charges of $52.4 million and $53.1 million, respectively. |
Note 23 - Subsequent Events (De
Note 23 - Subsequent Events (Details Textual) - USD ($) $ in Thousands | Jan. 03, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Payments to Acquire Businesses, Gross | $ 21,959 | ||
Subsequent Event [Member] | DEVCO [Member] | |||
Payments to Acquire Businesses, Gross | $ 12,200 |