Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 29, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001392091 | |
Entity Registrant Name | Blueknight Energy Partners, L.P. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-33503 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 20-8536826 | |
Entity Address, Address Line One | 6060 American Plaza, Suite 600 | |
Entity Address, City or Town | Tulsa | |
Entity Address, State or Province | OK | |
Entity Address, Postal Zip Code | 74135 | |
City Area Code | 918 | |
Local Phone Number | 237-4000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Common Unit [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Units | |
Trading Symbol | BKEP | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 41,903,015 | |
Series A Preferred Unit [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Series A Preferred Units | |
Trading Symbol | BKEPP | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 34,406,683 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 774 | $ 1,172 |
Accounts receivable, net | 6,325 | 2,989 |
Receivables from related parties, net | 528 | 369 |
Other current assets | 6,000 | 3,112 |
Current assets of discontinued operations | 0 | 2 |
Total current assets | 13,627 | 7,644 |
Property, plant and equipment, net of accumulated depreciation of $204,101 and $208,755 at December 31, 2021, and June 30, 2022, respectively | 119,527 | 106,389 |
Goodwill | 6,728 | 6,728 |
Debt issuance costs, net | 2,450 | 2,854 |
Operating lease assets | 7,221 | 7,855 |
Intangible assets, net | 3,081 | 5,088 |
Other noncurrent assets | 692 | 340 |
Total assets | 153,326 | 136,898 |
Current liabilities: | ||
Accounts payable | 3,829 | 2,105 |
Accounts payable to related parties | 3,190 | 1,047 |
Accrued interest payable | 282 | 250 |
Accrued property taxes payable | 1,901 | 1,660 |
Accrued payroll | 2,612 | 4,782 |
Current operating lease liability | 1,369 | 1,418 |
Other current liabilities | 3,569 | 1,711 |
Current liabilities of discontinued operations | 0 | 240 |
Total current liabilities | 23,941 | 20,020 |
Other long-term liabilities | 539 | 228 |
Noncurrent operating lease liability | 6,051 | 6,703 |
Long-term debt | 114,000 | 98,000 |
Commitments and contingencies (Note 12) | ||
Partners’ capital (deficit): | ||
Common unitholders (41,550,681 and 41,903,015 units issued and outstanding at December 31, 2021, and June 30, 2022, respectively) | 387,240 | 390,310 |
Preferred unitholders (34,406,683 units issued and outstanding at both dates) | 248,729 | 248,729 |
General partner interest (1.6% interest with 1,225,409 general partner units outstanding at both dates) | (631,523) | (631,482) |
Total partners’ capital | 4,446 | 7,557 |
Total liabilities and partners’ capital | 153,326 | 136,898 |
Third Party [Member] | ||
Current liabilities: | ||
Unearned revenue | 3,625 | 1,932 |
Related Party [Member] | ||
Current liabilities: | ||
Unearned revenue | 3,564 | 4,875 |
Long-term unearned revenue with related parties | $ 4,349 | $ 4,390 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accumulated depreciation (USD) | $ 208,755 | $ 204,101 |
Common units, issued (in shares) | 41,903,015 | 41,550,681 |
Common units, outstanding (in shares) | 41,903,015 | 41,550,681 |
Preferred units, issued (in shares) | 34,406,683 | 34,406,683 |
Preferred units, outstanding (in shares) | 34,406,683 | 34,406,683 |
General partner Ownership | 1.60% | 1.60% |
General partner units, outstanding (in shares) | 1,225,409 | 1,225,409 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total revenue | $ 29,510 | $ 27,759 | $ 57,970 | $ 54,834 |
Costs and expenses: | ||||
Operating expense | 18,301 | 16,083 | 35,877 | 31,963 |
General and administrative expense | 3,558 | 2,972 | 6,929 | 6,954 |
Loss on disposal of assets | 223 | 0 | 247 | 0 |
Total costs and expenses | 22,082 | 19,055 | 43,053 | 38,917 |
Operating income | 7,428 | 8,704 | 14,917 | 15,917 |
Other income (expenses): | ||||
Other income | 91 | 109 | 218 | 342 |
Interest expense | (1,164) | (1,695) | (2,128) | (3,028) |
Income before income taxes | 6,355 | 7,118 | 13,007 | 13,231 |
Provision for income taxes | 10 | 10 | 20 | 20 |
Income from continuing operations | 6,345 | 7,108 | 12,987 | 13,211 |
Income from discontinued operations, net | 0 | 175 | 0 | 75,725 |
Net income | 6,345 | 7,283 | 12,987 | 88,936 |
Allocation of net income for calculation of earnings per unit: | ||||
General partner interest in net income | 101 | 116 | 206 | 1,408 |
Preferred interest in net income | 6,150 | 6,156 | 12,300 | 12,497 |
Net income available to limited partners | $ 94 | $ 1,011 | $ 481 | $ 75,031 |
Basic and diluted net income from discontinued operations per common unit (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 1.74 |
Basic and diluted net income from continuing operations per common unit (in dollars per share) | 0 | 0.02 | 0.01 | 0.01 |
Basic and diluted net income per common unit (in dollars per share) | $ 0 | $ 0.02 | $ 0.01 | $ 1.75 |
Weighted average common units outstanding - basic and diluted (in shares) | 41,872 | 41,468 | 41,845 | 41,449 |
Third Party [Member] | ||||
Revenue from contracts | $ 8,551 | $ 7,312 | $ 16,157 | $ 14,231 |
Lease revenue | 8,615 | 8,401 | 17,102 | 16,704 |
Related Party [Member] | ||||
Revenue from contracts | 5,097 | 5,035 | 10,218 | 9,884 |
Lease revenue | 7,247 | 7,011 | 14,493 | 14,015 |
Service [Member] | Third Party [Member] | ||||
Revenue from contracts | 8,551 | 7,312 | 16,157 | 14,231 |
Service [Member] | Related Party [Member] | ||||
Revenue from contracts | $ 5,097 | $ 5,035 | $ 10,218 | $ 9,884 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Partners' Capital (Deficit) (Unaudited) - USD ($) $ in Thousands | Total | Limited Partner [Member] | Preferred Partner [Member] | General Partner [Member] |
Balance at Dec. 31, 2020 | $ (66,223) | $ 312,591 | $ 253,923 | $ (632,737) |
Net income | 88,936 | 74,907 | 12,621 | 1,408 |
Equity-based incentive compensation | 145 | 139 | 0 | 6 |
Distributions | (16,110) | (3,420) | (12,435) | (255) |
Repurchase of preferred units | (5,163) | 0 | (5,163) | 0 |
Proceeds from sale of common units pursuant to the Employee Unit Purchase Plan | 48 | 48 | 0 | 0 |
Balance at Jun. 30, 2021 | 1,633 | 384,265 | 248,946 | (631,578) |
Balance at Mar. 31, 2021 | 2,131 | 384,755 | 248,946 | (631,570) |
Net income | 7,283 | 1,011 | 6,156 | 116 |
Equity-based incentive compensation | 222 | 219 | 0 | 3 |
Distributions | (8,003) | (1,720) | (6,156) | (127) |
Balance at Jun. 30, 2021 | 1,633 | 384,265 | 248,946 | (631,578) |
Balance at Dec. 31, 2021 | 7,557 | 390,310 | 248,729 | (631,482) |
Net income | 12,987 | 481 | 12,300 | 206 |
Equity-based incentive compensation | 549 | 539 | 0 | 10 |
Distributions | (16,235) | (3,678) | (12,300) | (257) |
Proceeds from sale of common units pursuant to the Employee Unit Purchase Plan | 77 | 77 | 0 | 0 |
Other | (489) | (489) | 0 | 0 |
Balance at Jun. 30, 2022 | 4,446 | 387,240 | 248,729 | (631,523) |
Balance at Mar. 31, 2022 | 5,931 | 388,702 | 248,729 | (631,500) |
Net income | 6,345 | 94 | 6,150 | 101 |
Equity-based incentive compensation | 299 | 294 | 0 | 5 |
Distributions | (8,129) | (1,850) | (6,150) | (129) |
Balance at Jun. 30, 2022 | $ 4,446 | $ 387,240 | $ 248,729 | $ (631,523) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Partners' Capital (Deficit) (Unaudited) (Parentheticals) - shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Limited Partner [Member] | ||
Common units issued pursuant to the Employee Unit Purchase Plan (in shares) | 25,772 | 32,696 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 12,987 | $ 88,936 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 6,879 | 6,047 |
Amortization and write-off of debt issuance costs | 418 | 1,192 |
Tangible asset impairment charge | 0 | 156 |
(Gain) loss on disposal of assets | 247 | (75,138) |
Equity-based incentive compensation | 549 | 145 |
Changes in assets and liabilities: | ||
Decrease (increase) in accounts receivable | (3,335) | 9,729 |
Increase in receivables from related parties | (159) | (48) |
Decrease (increase) in other current assets | (1,430) | 1,459 |
Decrease in other non-current assets | 276 | 691 |
Increase in accounts payable | 104 | 123 |
Increase (decrease) in payables to related parties | 104 | (10) |
Increase in accrued interest payable | 32 | 132 |
Increase (decrease) in accrued property taxes | 10 | (563) |
Increase (decrease) in unearned revenue | 1,923 | (316) |
Decrease in accrued payroll | (2,179) | (3,109) |
Decrease in other accrued liabilities | (1,434) | (1,563) |
Net cash provided by operating activities | 13,106 | 14,805 |
Cash flows from investing activities: | ||
Capital expenditures | (12,815) | (3,713) |
Net proceeds (costs) of asset disposal | (18) | 155,405 |
Net cash provided by (used in) investing activities | (12,833) | 151,692 |
Cash flows from financing activities: | ||
Payments on other financing activities | (513) | (827) |
Debt issuance costs | 0 | (321) |
Borrowings under credit agreement | 49,000 | 68,486 |
Payments under credit agreement | (33,000) | (213,000) |
Proceeds from equity issuance | 77 | 48 |
Repurchase of preferred units | 0 | (5,163) |
Distributions | (16,235) | (16,110) |
Net cash used in financing activities | (671) | (166,887) |
Net decrease in cash and cash equivalents | (398) | (390) |
Cash and cash equivalents at beginning of period | 1,172 | 805 |
Cash and cash equivalents at end of period | 774 | 415 |
Supplemental disclosure of non-cash financing and investing cash flow information: | ||
Non-cash changes in property, plant and equipment | 5,373 | 692 |
Increase in accrued liabilities related to insurance premium financing agreement | 0 | 1,208 |
Third Party [Member] | ||
Changes in assets and liabilities: | ||
Increase (decrease) in accrued crude oil purchases | 0 | (3,868) |
Related Party [Member] | ||
Changes in assets and liabilities: | ||
Increase (decrease) in accrued crude oil purchases | 0 | (8,842) |
Increase (decrease) in unearned revenue | $ (1,886) | $ (348) |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 6 Months Ended |
Jun. 30, 2022 | |
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 26 states. The Partnership provides integrated terminalling services for companies engaged in the production, distribution, and marketing of liquid asphalt. The Partnership manages its operations through one operating segment, asphalt terminalling services. The Partnership’s common units and preferred units, which represent limited partnership interests in the Partnership, are listed on the Nasdaq Global Market under the symbols “BKEP” and “BKEPP,” respectively. The Partnership was formed in February 2007 The Partnership previously provided integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of crude oil in three December 21, 2020, February March 2021. one no |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. BASIS OF PRESENTATION The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The condensed consolidated balance sheet as of June 30, 2022 three six June 30, 2021 2022 three six June 30, 2021 2022 six June 30, 2021 2022 2021 not 10 December 31, 2021 March 9, 2022 ( 2021 10 not 3 2021 10 |
Note 3 - Revenue
Note 3 - Revenue | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Revenue [Text Block] | 3. REVENUE The Partnership recognizes revenue from contracts with customers as well as lease revenue. 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 Customers(1) Revenue from Leases Total Remainder of 2022 $ 20,378 $ 30,394 $ 50,772 2023 36,739 53,125 89,864 2024 36,009 52,337 88,346 2025 33,801 46,268 80,069 2026 24,753 30,670 55,423 Thereafter 23,639 33,902 57,541 Total revenue related to future performance obligations $ 175,319 $ 246,696 $ 422,015 ___________________ ( 1 Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of June 30, 2022 Disaggregation of Revenue Disaggregation of revenue from contracts with customers and lease revenue by revenue type is presented as follows (in thousands): Three Months Ended June 30, 2021 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 5,084 $ 4,720 $ - $ - $ 9,804 Fixed lease revenue - - 7,821 6,786 14,607 Variable cost recovery revenue 2,094 200 465 225 2,984 Variable throughput and other revenue 134 115 115 - 364 Total $ 7,312 $ 5,035 $ 8,401 $ 7,011 $ 27,759 Three Months Ended June 30, 2022 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 5,335 $ 4,862 $ - $ - $ 10,197 Fixed lease revenue - - 8,214 6,988 15,202 Variable cost recovery revenue 2,984 235 245 259 3,723 Variable throughput and other revenue 232 - 156 - 388 Total $ 8,551 $ 5,097 $ 8,615 $ 7,247 $ 29,510 Six Months Ended June 30, 2021 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 10,147 $ 9,441 $ - $ - $ 19,588 Fixed lease revenue - - 15,621 13,571 29,192 Variable cost recovery revenue 3,830 292 968 444 5,534 Variable throughput and other revenue 254 151 115 - 520 Total $ 14,231 $ 9,884 $ 16,704 $ 14,015 $ 54,834 Six Months Ended June 30, 2022 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 10,522 $ 9,723 $ - $ - $ 20,245 Fixed lease revenue - - 16,336 13,977 30,313 Variable cost recovery revenue 5,296 495 608 516 6,915 Variable throughput and other revenue 339 - 158 - 497 Total $ 16,157 $ 10,218 $ 17,102 $ 14,493 $ 57,970 Contract Balances Accounts receivable from contracts with customers were $2.2 million and $3.2 million at December 31, 2021 June 30, 2022 June 30, 2022 December 31, 2021. The Partnership records unearned revenues when cash payments are received in advance of performance. Unearned revenue related to contracts with customers was $3.4 million and $3.7 million at December 31, 2021 June 30, 2022 six June 30, 2022 Practical Expedients and Exemptions The Partnership does not one |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 4. DISCONTINUED OPERATIONS On December 21, 2020, two one December 15, 2020, one February 2, 2021. February 1, 2021. December 31, 2020. March 1, 2021. three March 31, 2021. As part of the crude oil pipeline sale, $1.2 million two Exit and disposal costs related to these sales, in the form of employee severance payments, totaled $1.9 million. The Partnership provided limited transition services to both of the buyers of the crude oil pipeline and terminalling services segments, with the final transition services being completed during the third 2021. Assets and Liabilities of Discontinued Operations (in thousands) As of December 31, 2021 Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total ASSETS Other assets $ - $ 1 $ 1 $ 2 Total assets of discontinued operations $ - $ 1 $ 1 $ 2 LIABILITIES Current liabilities $ 12 $ 218 $ 10 $ 240 Total liabilities of discontinued operations $ 12 $ 218 $ 10 $ 240 Statement of Operations for Discontinued Operations (in thousands) Three Months Ended June 30, 2021 Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total Revenue: Third-party service revenue $ - $ 122 $ 798 $ 920 Costs and expenses: Operating expense 93 116 596 805 General and administrative expense 2 6 - 8 (Gain) loss on disposal of assets - 50 (119 ) (69 ) Interest expense - - 1 1 Income (loss) before income taxes (95 ) (50 ) 320 175 Provision for income taxes - - - - Net income (loss) from discontinued operations $ (95 ) $ (50 ) $ 320 $ 175 Statement of Operations for Discontinued Operations (in thousands) Six Months Ended June 30, 2021 Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total Revenue: Third-party service revenue $ 9 $ 535 $ 4,441 $ 4,985 Intercompany service revenue 409 - - 409 Third-party product sales revenue - 15,591 - 15,591 Costs and expenses: Operating expense 1,426 1,554 1,507 4,487 Intercompany operating expense - 409 - 409 Cost of product sales - 4,994 - 4,994 Cost of product sales from related party - 9,461 - 9,461 General and administrative expense 61 123 - 184 Tangible asset impairment expense 92 41 23 156 Gain on disposal of assets (3 ) (1,644 ) (73,491 ) (75,138 ) Interest expense - 72 635 707 Income (loss) before income taxes (1,158 ) 1,116 75,767 75,725 Provision for income taxes - - - - Net income (loss) from discontinued operations $ (1,158 ) $ 1,116 $ 75,767 $ 75,725 Select cash flow information (in thousands) Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total Six Months Ended June 30, 2021 Amortization $ 3 $ 14 $ 31 $ 48 Capital expenditures $ - $ 30 $ 106 $ 136 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. PROPERTY, PLANT AND EQUIPMENT Estimated Useful December 31, June 30, Lives (Years) 2021 2022 (dollars in thousands) Land N/A $ 21,826 $ 23,313 Land improvements 10-20 5,125 5,144 Storage and terminal facilities 10-35 257,433 263,956 Office property and equipment and other 3-30 21,751 22,529 Construction-in-progress N/A 4,355 13,340 Property, plant and equipment, gross 310,490 328,282 Accumulated depreciation (204,101 ) (208,755 ) Property, plant and equipment, net $ 106,389 $ 119,527 Capital expenditures for the six June 30, 2022 January 2022 |
Note 6 - Debt
Note 6 - Debt | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. DEBT On May 26, 2021, July 29, 2022 y million of revolver borrowings and million of letters of credit were outstanding under the credit agreement, leaving the Partnership with approximately million available capacity 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 $450.0 million for all revolving loan commitments under the credit agreement. The credit agreement will mature on May 26, 2025, 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) (“eurodollar rate”) plus an applicable margin that ranges from 2.0% to 3.25% or the alternate base rate (the highest of the agent bank’s prime rate, the federal funds effective rate plus 0.5%, and the 30 The credit agreement includes financial covenants that 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 million, the maximum permitted consolidated total leverage ratio is 4.75 to 1.00; may 1.00 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 1.00; second 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 to 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 to 1.00. • create, issue, incur or assume indebtedness; • create, incur or assume liens; • consummate 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 Fourth Amended and Restated Agreement of Limited Partnership of the Partnership (the “Partnership’s partnership agreement”). At June 30, 2022 1.00 1.00. June 30, 2022 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, on a pro forma basis after giving effect to such distributions, the Partnership is in compliance with its financial covenants under the credit agreement and no 1.00, no 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% of the Partnership’s general partner interest or ceases to control the Partnership; (ii) Ergon ceases to own and control 50% or more of the membership interests of the general partner; or (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 to have letters of credit issued under the credit agreement. On May 26, 2021, The following table sets forth financial information pertaining to the credit agreement (in thousands, except for interest rate): Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Debt issuance costs capitalized $ 2,797 $ 7 $ 2,846 $ 15 Write off of debt issuance costs due to amendments(1) - - 147 - Write off of debt issuance costs due to new credit facility 583 - 583 - Interest expense related to amortization of debt issuance costs 217 210 462 419 Credit facility interest expense(2) 893 995 1,836 1,775 Weighted average interest rate under credit facility(2) 3.10 % 3.39 % 3.25 % 3.14 % ___________________ ( 1 On January 8, 2021, ( 2 Excludes interest expense related to amortization and write off of debt issuance costs. |
Note 7 - Net Income Per Limited
Note 7 - Net Income Per Limited Partner Unit | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. NET INCOME PER LIMITED PARTNER UNIT For purposes of calculating earnings per unit, preferred units, general partner units, and common units are first six June 30, 2021, first 2021. Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Net income $ 7,283 $ 6,345 $ 88,936 $ 12,987 General partner interest in net income 116 101 1,408 206 Preferred interest in net income 6,156 6,150 12,497 12,300 Net income available to limited partners $ 1,011 $ 94 $ 75,031 $ 481 Basic weighted average number of units: Common units 41,468 41,872 41,449 41,845 Restricted and phantom units 1,551 1,672 1,359 1,476 Total units 43,019 43,544 42,808 43,321 Basic and diluted net income from discontinued operations per common unit $ - $ - $ 1.74 $ - Basic and diluted net income from continuing operations per common unit $ 0.02 $ 0.00 $ 0.01 $ 0.01 Basic and diluted net income per common unit $ 0.02 $ 0.00 $ 1.75 $ 0.01 |
Note 8 - Partners' Capital and
Note 8 - Partners' Capital and Distributions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Partners' Capital Notes Disclosure [Text Block] | 8. PARTNERS’ CAPITAL AND DISTRIBUTIONS During the six June 30, 2021, six June 30, 2021, 2022. On July 26, 2022 three June 30, 2022 August 12, 2022 August 5, 2022 In addition, the Board approved a cash distribution of $0.0425 per outstanding common unit for the three June 30, 2022 August 12, 2022 August 5, 2022 $0.1 |
Note 9 - Related-party Transact
Note 9 - Related-party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 9. RELATED-PARTY TRANSACTIONS The Partnership leases asphalt facilities and provides asphalt terminalling services to Ergon. For the three June 30, 2021 2022 six June 30, 2021 2022 December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 Ergon also provides certain operations and maintenance services to certain of the Partnership's asphalt facilities that have existing revenue contracts between the parties. For the three June 30, 2021 2022 six June 30, 2021 2022 |
Note 10 - Long-term Incentive P
Note 10 - Long-term Incentive Plan | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 10. LONG-TERM INCENTIVE PLAN In July 2007, 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 which ultimately do not Each year, restricted common units are granted to the independent directors that may may not December 2021, not one third three Grant Date Number of Units Weighted Average Grant Date Fair Value(1) Grant Date Total Fair Value (in thousands) December 2019 7,500 $ 1.07 $ 8 December 2020 7,500 $ 2.06 $ 15 December 2021 22,743 $ 3.26 $ 74 ( 1 Fair value is the closing market price on the grant date of the awards. The Partnership also grants phantom units to employees. These grants are equity awards under ASC 718 2020 2021 three 2022 one third three Grant Date Number of Units Weighted Average Grant Date Fair Value(1) Grant Date Total Fair Value (in thousands) March 2020 600,396 $ 0.90 $ 540 October 2020 16,339 $ 1.53 $ 25 March 2021 530,435 $ 2.71 $ 1,437 March 2022 558,411 $ 3.25 $ 1,815 ( 1 Fair value is the closing market price on the grant date of the awards. The unrecognized estimated compensation cost of outstanding phantom and restricted units at June 30, 2022 The Partnership’s equity-based incentive compensation expense for the three June 30, 2021 2022 six June 30, 2021 2022 Activity pertaining to phantom and restricted common unit awards granted under the LTIP was as follows: Number of Units Weighted Average Grant Date Fair Value Nonvested at December 31, 2021 1,555,290 $ 1.66 Granted 558,411 $ 3.25 Vested 472,465 $ 1.13 Nonvested at June 30, 2022 1,641,236 $ 2.33 |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 11. 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 assets and liabilities required to be measured at fair value, 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. As of December 31, 2021, June 30, 2022 no 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 June 30, 2022 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 June 30, 2022 3. |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 12. 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 three March 31, 2022, no not The Partnership has contractual obligations to perform dismantlement and removal activities in the event that some of its asphalt product and residual fuel oil terminalling and storage 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 13 - Recently Issued Accou
Note 13 - Recently Issued Accounting Standards | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 13. RECENTLY ISSUED ACCOUNTING STANDARDS There have been no six June 30, 2022 |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. SUBSEQUENT EVENTS Merger Agreement On October 8, 2021, 13D not On April 21, 2022, Under the terms of the Merger Agreement, at the effective time of the Merger, (i) each issued and outstanding common unit representing a limited partner interest in the Partnership (each, a “Common Unit”) other than Common Units owned by Parent, the Partnership and their subsidiaries will be converted into the right to receive $4.65 in cash without any interest thereon (the “Common Unit Merger Consideration”), and (ii) each issued and outstanding Series A Preferred Unit of the Partnership (each, a “Preferred Unit”), other than Preferred Units owned by Parent, the Partnership and their subsidiaries will be converted into the right to receive $8.75 in cash without any interest thereon (the “Preferred Unit Merger Consideration” and, together with the Common Unit Merger Consideration, the “Merger Consideration”). In connection with the Merger, (i) the General Partner’s non-economic general partner interest in the Partnership, (ii) the incentive distribution rights held by the General Partner and (iii) the Common Units and the Preferred Units owned by Parent and its subsidiaries, in each case, will not not Immediately prior to the effective time of the Merger, all restricted units and phantom units outstanding immediately prior to the effective time will fully vest, and each holder of such units will receive an amount equal to the Merger Consideration with respect to each such unit that becomes vested pursuant to the terms of the Merger Agreement. The Partnership has entered into a Support Agreement, dated as of April 21, 2022 ( The Merger is subject to customary closing conditions, including approval of the unitholders. The Partnership has established a special meeting date of August 16, 2022 |
Note 3 - Revenue (Tables)
Note 3 - Revenue (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Revenue from Contracts with Customers(1) Revenue from Leases Total Remainder of 2022 $ 20,378 $ 30,394 $ 50,772 2023 36,739 53,125 89,864 2024 36,009 52,337 88,346 2025 33,801 46,268 80,069 2026 24,753 30,670 55,423 Thereafter 23,639 33,902 57,541 Total revenue related to future performance obligations $ 175,319 $ 246,696 $ 422,015 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, 2021 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 5,084 $ 4,720 $ - $ - $ 9,804 Fixed lease revenue - - 7,821 6,786 14,607 Variable cost recovery revenue 2,094 200 465 225 2,984 Variable throughput and other revenue 134 115 115 - 364 Total $ 7,312 $ 5,035 $ 8,401 $ 7,011 $ 27,759 Three Months Ended June 30, 2022 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 5,335 $ 4,862 $ - $ - $ 10,197 Fixed lease revenue - - 8,214 6,988 15,202 Variable cost recovery revenue 2,984 235 245 259 3,723 Variable throughput and other revenue 232 - 156 - 388 Total $ 8,551 $ 5,097 $ 8,615 $ 7,247 $ 29,510 Six Months Ended June 30, 2021 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 10,147 $ 9,441 $ - $ - $ 19,588 Fixed lease revenue - - 15,621 13,571 29,192 Variable cost recovery revenue 3,830 292 968 444 5,534 Variable throughput and other revenue 254 151 115 - 520 Total $ 14,231 $ 9,884 $ 16,704 $ 14,015 $ 54,834 Six Months Ended June 30, 2022 Revenue from contracts with customers Lease revenue Third-party revenue Related-party revenue Third-party revenue Related-party revenue Total Fixed storage and throughput revenue $ 10,522 $ 9,723 $ - $ - $ 20,245 Fixed lease revenue - - 16,336 13,977 30,313 Variable cost recovery revenue 5,296 495 608 516 6,915 Variable throughput and other revenue 339 - 158 - 497 Total $ 16,157 $ 10,218 $ 17,102 $ 14,493 $ 57,970 |
Note 4 - Discontinued Operati_2
Note 4 - Discontinued Operations (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Assets and Liabilities of Discontinued Operations (in thousands) As of December 31, 2021 Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total ASSETS Other assets $ - $ 1 $ 1 $ 2 Total assets of discontinued operations $ - $ 1 $ 1 $ 2 LIABILITIES Current liabilities $ 12 $ 218 $ 10 $ 240 Total liabilities of discontinued operations $ 12 $ 218 $ 10 $ 240 Statement of Operations for Discontinued Operations (in thousands) Three Months Ended June 30, 2021 Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total Revenue: Third-party service revenue $ - $ 122 $ 798 $ 920 Costs and expenses: Operating expense 93 116 596 805 General and administrative expense 2 6 - 8 (Gain) loss on disposal of assets - 50 (119 ) (69 ) Interest expense - - 1 1 Income (loss) before income taxes (95 ) (50 ) 320 175 Provision for income taxes - - - - Net income (loss) from discontinued operations $ (95 ) $ (50 ) $ 320 $ 175 Statement of Operations for Discontinued Operations (in thousands) Six Months Ended June 30, 2021 Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total Revenue: Third-party service revenue $ 9 $ 535 $ 4,441 $ 4,985 Intercompany service revenue 409 - - 409 Third-party product sales revenue - 15,591 - 15,591 Costs and expenses: Operating expense 1,426 1,554 1,507 4,487 Intercompany operating expense - 409 - 409 Cost of product sales - 4,994 - 4,994 Cost of product sales from related party - 9,461 - 9,461 General and administrative expense 61 123 - 184 Tangible asset impairment expense 92 41 23 156 Gain on disposal of assets (3 ) (1,644 ) (73,491 ) (75,138 ) Interest expense - 72 635 707 Income (loss) before income taxes (1,158 ) 1,116 75,767 75,725 Provision for income taxes - - - - Net income (loss) from discontinued operations $ (1,158 ) $ 1,116 $ 75,767 $ 75,725 Select cash flow information (in thousands) Crude Oil Trucking Services Crude Oil Pipeline Services Crude Oil Terminalling Services Total Six Months Ended June 30, 2021 Amortization $ 3 $ 14 $ 31 $ 48 Capital expenditures $ - $ 30 $ 106 $ 136 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Estimated Useful December 31, June 30, Lives (Years) 2021 2022 (dollars in thousands) Land N/A $ 21,826 $ 23,313 Land improvements 10-20 5,125 5,144 Storage and terminal facilities 10-35 257,433 263,956 Office property and equipment and other 3-30 21,751 22,529 Construction-in-progress N/A 4,355 13,340 Property, plant and equipment, gross 310,490 328,282 Accumulated depreciation (204,101 ) (208,755 ) Property, plant and equipment, net $ 106,389 $ 119,527 |
Note 6 - Debt (Tables)
Note 6 - Debt (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Debt issuance costs capitalized $ 2,797 $ 7 $ 2,846 $ 15 Write off of debt issuance costs due to amendments(1) - - 147 - Write off of debt issuance costs due to new credit facility 583 - 583 - Interest expense related to amortization of debt issuance costs 217 210 462 419 Credit facility interest expense(2) 893 995 1,836 1,775 Weighted average interest rate under credit facility(2) 3.10 % 3.39 % 3.25 % 3.14 % |
Note 7 - Net Income Per Limit_2
Note 7 - Net Income Per Limited Partner Unit (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Net income $ 7,283 $ 6,345 $ 88,936 $ 12,987 General partner interest in net income 116 101 1,408 206 Preferred interest in net income 6,156 6,150 12,497 12,300 Net income available to limited partners $ 1,011 $ 94 $ 75,031 $ 481 Basic weighted average number of units: Common units 41,468 41,872 41,449 41,845 Restricted and phantom units 1,551 1,672 1,359 1,476 Total units 43,019 43,544 42,808 43,321 Basic and diluted net income from discontinued operations per common unit $ - $ - $ 1.74 $ - Basic and diluted net income from continuing operations per common unit $ 0.02 $ 0.00 $ 0.01 $ 0.01 Basic and diluted net income per common unit $ 0.02 $ 0.00 $ 1.75 $ 0.01 |
Note 10 - Long-term Incentive_2
Note 10 - Long-term Incentive Plan (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block] | Grant Date Number of Units Weighted Average Grant Date Fair Value(1) Grant Date Total Fair Value (in thousands) December 2019 7,500 $ 1.07 $ 8 December 2020 7,500 $ 2.06 $ 15 December 2021 22,743 $ 3.26 $ 74 |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block] | Grant Date Number of Units Weighted Average Grant Date Fair Value(1) Grant Date Total Fair Value (in thousands) March 2020 600,396 $ 0.90 $ 540 October 2020 16,339 $ 1.53 $ 25 March 2021 530,435 $ 2.71 $ 1,437 March 2022 558,411 $ 3.25 $ 1,815 |
Share-Based Payment Arrangement, Activity [Table Text Block] | Number of Units Weighted Average Grant Date Fair Value Nonvested at December 31, 2021 1,555,290 $ 1.66 Granted 558,411 $ 3.25 Vested 472,465 $ 1.13 Nonvested at June 30, 2022 1,641,236 $ 2.33 |
Note 1 - Organization and Nat_2
Note 1 - Organization and Nature of Business (Details Textual) | 6 Months Ended |
Jun. 30, 2022 | |
Number of States in which Entity Operates | 26 |
Number of Operating Segments | 1 |
Note 3 - Revenue (Details Textu
Note 3 - Revenue (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Billed Contracts Receivable | $ 3.2 | $ 2.2 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 1.1 | |
Contract with Customer, Liability, Total | 3.7 | $ 3.4 |
Contract with Customer, Liability, Revenue Recognized | $ 2.3 |
Note 3 - Revenue - Future Perfo
Note 3 - Revenue - Future Performance Obligations (Details) $ in Thousands | Jun. 30, 2022 USD ($) | |
Remainder of 2022, Revenue from Leases | $ 30,394 | |
Total, Remainder of 2022 | 50,772 | |
2023, Revenue from Leases | 53,125 | |
Total, 2023 | 89,864 | |
2024, Revenue from Leases | 52,337 | |
Total, 2024 | 88,346 | |
2025, Revenue from Leases | 46,268 | |
Total, 2025 | 80,069 | |
2026, Revenue from Leases | 30,670 | |
Total, 2026 | 55,423 | |
Thereafter, Revenue from Leases | 33,902 | |
Total, Thereafter | 57,541 | |
Revenue related to future performance obligation | 175,319 | [1] |
Revenue from Leases, Revenue from Leases | 246,696 | |
Total revenue related to future performance obligations | $ 422,015 | |
[1]Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of June 30, 2022. |
Note 3 - Revenue - Future Per_2
Note 3 - Revenue - Future Performance Obligations 2 (Details) $ in Thousands | Jun. 30, 2022 USD ($) | |
Revenue related to future performance obligation | $ 175,319 | [1] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | ||
Revenue related to future performance obligation | $ 20,378 | [1] |
Expected Timing of Satisfaction, Period (Year) | 6 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue related to future performance obligation | $ 36,739 | [1] |
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 | $ 36,009 | [1] |
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 | $ 33,801 | [1] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Revenue related to future performance obligation | $ 24,753 | [1] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | ||
Revenue related to future performance obligation | $ 23,639 | [1] |
Expected Timing of Satisfaction, Period (Year) | 1 year | |
[1]Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of June 30, 2022. |
Note 3 - Revenue - Disaggregati
Note 3 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total revenue | $ 29,510 | $ 27,759 | $ 57,970 | $ 54,834 |
Fixed Storageand Throughput Revenue [Member] | ||||
Total revenue | 10,197 | 9,804 | 20,245 | 19,588 |
Fixed Lease Revenue [Member] | ||||
Total revenue | 15,202 | 14,607 | 30,313 | 29,192 |
Variable Cost Recovery Revenue [Member] | ||||
Total revenue | 3,723 | 2,984 | 6,915 | 5,534 |
Variable Throughput Revenue [Member] | ||||
Total revenue | 388 | 364 | 497 | 520 |
Third Party [Member] | ||||
Revenue from contracts | 8,551 | 7,312 | 16,157 | 14,231 |
Lease revenue | 8,615 | 8,401 | 17,102 | 16,704 |
Third Party [Member] | Fixed Storageand Throughput Revenue [Member] | ||||
Revenue from contracts | 5,335 | 5,084 | 10,522 | 10,147 |
Lease revenue | 0 | 0 | 0 | 0 |
Third Party [Member] | Fixed Lease Revenue [Member] | ||||
Revenue from contracts | 0 | 0 | 0 | 0 |
Lease revenue | 8,214 | 7,821 | 16,336 | 15,621 |
Third Party [Member] | Variable Cost Recovery Revenue [Member] | ||||
Revenue from contracts | 2,984 | 2,094 | 5,296 | 3,830 |
Lease revenue | 245 | 465 | 608 | 968 |
Third Party [Member] | Variable Throughput Revenue [Member] | ||||
Revenue from contracts | 232 | 134 | 339 | 254 |
Lease revenue | 156 | 115 | 158 | 115 |
Related Party [Member] | ||||
Revenue from contracts | 5,097 | 5,035 | 10,218 | 9,884 |
Lease revenue | 7,247 | 7,011 | 14,493 | 14,015 |
Related Party [Member] | Fixed Storageand Throughput Revenue [Member] | ||||
Revenue from contracts | 4,862 | 4,720 | 9,723 | 9,441 |
Lease revenue | 0 | 0 | 0 | 0 |
Related Party [Member] | Fixed Lease Revenue [Member] | ||||
Revenue from contracts | 0 | 0 | 0 | 0 |
Lease revenue | 6,988 | 6,786 | 13,977 | 13,571 |
Related Party [Member] | Variable Cost Recovery Revenue [Member] | ||||
Revenue from contracts | 235 | 200 | 495 | 292 |
Lease revenue | 259 | 225 | 516 | 444 |
Related Party [Member] | Variable Throughput Revenue [Member] | ||||
Revenue from contracts | 0 | 115 | 0 | 151 |
Lease revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Note 4 - Discontinued Operati_3
Note 4 - Discontinued Operations (Details Textual) - Crude Oil Pipeline Services [Member] - Discontinued Operations, Held-for-sale [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2021 USD ($) | |
Proceeds from Divestiture of Businesses, Held in Escrow | $ 1.2 |
Exit and Disposal Costs | $ 1.9 |
Note 4 - Discontinued Operati_4
Note 4 - Discontinued Operations - Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Total liabilities of discontinued operations | $ 240 | ||||
Net income (loss) from discontinued operations | $ 0 | $ 175 | $ 0 | $ 75,725 | |
Discontinued Operations, Held-for-sale [Member] | |||||
(Gain) loss on disposal of assets | (69) | (75,138) | |||
Interest expense | 1 | 707 | |||
Tangible asset impairment expense | 156 | ||||
Discontinued Operations, Disposed of by Sale [Member] | |||||
Other assets | 2 | ||||
Total assets of discontinued operations | 2 | ||||
Current liabilities | 240 | ||||
Operating expense | 805 | 4,487 | |||
General and administrative expense | 8 | 184 | |||
Income (loss) before income taxes | 175 | 75,725 | |||
Provision for income taxes | 0 | 0 | |||
Net income (loss) from discontinued operations | 175 | 75,725 | |||
Amortization | 48 | ||||
Capital expenditures | 136 | ||||
Discontinued Operations, Disposed of by Sale [Member] | Intersegment Eliminations [Member] | |||||
Operating expense | 409 | ||||
Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Operating expense | 93 | 1,426 | |||
General and administrative expense | 2 | 61 | |||
(Gain) loss on disposal of assets | 0 | (3) | |||
Interest expense | 0 | 0 | |||
Income (loss) before income taxes | (95) | (1,158) | |||
Provision for income taxes | 0 | 0 | |||
Net income (loss) from discontinued operations | (95) | (1,158) | |||
Tangible asset impairment expense | 92 | ||||
Amortization | 3 | ||||
Capital expenditures | 0 | ||||
Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | Intersegment Eliminations [Member] | |||||
Operating expense | 0 | ||||
Crude Oil Trucking Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Other assets | 0 | ||||
Total assets of discontinued operations | 0 | ||||
Current liabilities | 12 | ||||
Total liabilities of discontinued operations | 12 | ||||
Crude Oil Pipeline Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Operating expense | 116 | 1,554 | |||
General and administrative expense | 6 | 123 | |||
(Gain) loss on disposal of assets | 50 | (1,644) | |||
Interest expense | 0 | 72 | |||
Income (loss) before income taxes | (50) | 1,116 | |||
Provision for income taxes | 0 | 0 | |||
Net income (loss) from discontinued operations | (50) | 1,116 | |||
Tangible asset impairment expense | 41 | ||||
Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Other assets | 1 | ||||
Total assets of discontinued operations | 1 | ||||
Current liabilities | 218 | ||||
Total liabilities of discontinued operations | 218 | ||||
Amortization | 14 | ||||
Capital expenditures | 30 | ||||
Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | Intersegment Eliminations [Member] | |||||
Operating expense | 409 | ||||
Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Operating expense | 596 | 1,507 | |||
General and administrative expense | 0 | 0 | |||
(Gain) loss on disposal of assets | (119) | (73,491) | |||
Interest expense | 1 | 635 | |||
Income (loss) before income taxes | 320 | 75,767 | |||
Provision for income taxes | 0 | 0 | |||
Net income (loss) from discontinued operations | 320 | 75,767 | |||
Tangible asset impairment expense | 23 | ||||
Amortization | 31 | ||||
Capital expenditures | 106 | ||||
Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | Intersegment Eliminations [Member] | |||||
Operating expense | 0 | ||||
Crude Oil Terminalling Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Other assets | 1 | ||||
Total assets of discontinued operations | 1 | ||||
Current liabilities | 10 | ||||
Total liabilities of discontinued operations | $ 10 | ||||
Third Party [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Cost of product sales | 4,994 | ||||
Third Party [Member] | Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Cost of product sales | 0 | ||||
Third Party [Member] | Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Cost of product sales | 4,994 | ||||
Third Party [Member] | Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Cost of product sales | 0 | ||||
Related Party [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Cost of product sales | 9,461 | ||||
Related Party [Member] | Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Cost of product sales | 0 | ||||
Related Party [Member] | Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Cost of product sales | 9,461 | ||||
Related Party [Member] | Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Cost of product sales | 0 | ||||
Service [Member] | Discontinued Operations, Disposed of by Sale [Member] | Intersegment Eliminations [Member] | |||||
Revenue | 409 | ||||
Service [Member] | Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | Intersegment Eliminations [Member] | |||||
Revenue | 409 | ||||
Service [Member] | Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | Intersegment Eliminations [Member] | |||||
Revenue | 0 | ||||
Service [Member] | Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | Intersegment Eliminations [Member] | |||||
Revenue | 0 | ||||
Service [Member] | Third Party [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Revenue | 920 | 4,985 | |||
Service [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Revenue | 0 | 9 | |||
Service [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Revenue | 122 | 535 | |||
Service [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Revenue | $ 798 | 4,441 | |||
Product [Member] | Third Party [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Revenue | 15,591 | ||||
Product [Member] | Third Party [Member] | Crude Oil Trucking Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Revenue | 0 | ||||
Product [Member] | Third Party [Member] | Crude Oil Pipeline Services [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Revenue | 15,591 | ||||
Product [Member] | Third Party [Member] | Crude Oil Terminalling Services [Member] | Discontinued Operations, Held-for-sale [Member] | |||||
Revenue | $ 0 |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, plant and equipment, gross | $ 328,282 | $ 310,490 |
Accumulated depreciation | (208,755) | (204,101) |
Property, plant and equipment, net | 119,527 | 106,389 |
Land [Member] | ||
Property, plant and equipment, gross | 23,313 | 21,826 |
Land Improvements [Member] | ||
Property, plant and equipment, gross | $ 5,144 | 5,125 |
Land Improvements [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 10 years | |
Land Improvements [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 20 years | |
Storage and Terminal Facilities [Member] | ||
Property, plant and equipment, gross | $ 263,956 | 257,433 |
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 | |
Office Equipment [Member] | ||
Property, plant and equipment, gross | $ 22,529 | 21,751 |
Office Equipment [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 3 years | |
Office Equipment [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 30 years | |
Construction in Progress [Member] | ||
Property, plant and equipment, gross | $ 13,340 | $ 4,355 |
Note 6 - Debt (Details Textual)
Note 6 - Debt (Details Textual) - Credit Agreement [Member] $ in Millions | 6 Months Ended | ||||
May 26, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jul. 29, 2022 USD ($) | Jan. 08, 2021 USD ($) | Jan. 07, 2021 USD ($) | |
Line of Credit Facility, Maximum Borrowing Capacity Including Additional Lenders | $ 450 | ||||
Debt Instrument Covenant, Issued Qualified Senior Notes | $ 200 | ||||
Debt Instrument Covenant, Prior to Issuance of Qualified Senior Notes, Maximum Permitted Consolidated Total Leverage Ratio | 4.75 | ||||
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 | ||||
Debt Instrument Covenant, Prior to Issuance of Qualified Senior Notes, Maximum Permitted Consolidated Total Leverage Ratio | 5 | ||||
Debt Instrument Covenant, After Issuance of Qualified Senior Notes, Based on Occurence of Acquisition, Maximum Permitted Consolidated Total Leverage Ratio | 5.50 | ||||
Debt Instrument Covenant, Maximum Permitted Consolidated Senior Secured Leverage Ratio | 3.50 | ||||
Debt Instrument Covenant, Minimum Permitted Consolidated Interest Coverage Ratio | 2.50 | ||||
Consolidated Total Leverage Ratio | 2.16 | ||||
Consolidated Interest Coverage Ratio | 16.05 | ||||
Debt Instrument, Covenant, Maximum Aggregate Unit Repurchases | $ 40 | ||||
Debt Instrument, Covenant, Maximum Yearly Unit Repurchases | $ 10 | ||||
Debt Instrument, Covenant, Unit Repurchases, Maximum Total Leverage Ratio | 4 | ||||
Debt Instrument, Covenant, Unit Repurchases, Minimum Percentage of Revolving Credit Facility to Total Commitments | 20% | ||||
Debt Instrument Covenant, Default, Percentage of General Partner Interest Cease | 100% | ||||
Line of Credit Assumed | $ 2.9 | ||||
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction | 2.5 | ||||
Ergon [Member] | |||||
Debt Instrument Covenant, Default, Percentage of Membership Interest Cease | 50% | ||||
Federal Funds Effective Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||
Eurodollar Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1% | ||||
Minimum [Member] | |||||
Line of Credit Facility, Commitment Fee Percentage | 0.375% | ||||
Minimum [Member] | Applicable Margin Based on Eurodollar Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2% | ||||
Minimum [Member] | Applicable Margin on Based on Alternate Base Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1% | ||||
Maximum [Member] | |||||
Line of Credit Facility, Commitment Fee Percentage | 0.50% | ||||
Maximum [Member] | Applicable Margin Based on Eurodollar Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | ||||
Maximum [Member] | Applicable Margin on Based on Alternate Base Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||
Revolving Credit Facility [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 300 | $ 350 | $ 400 | ||
Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||
Long-Term Line of Credit, Total | $ 109 | ||||
Letters of Credit Outstanding, Amount | 0.3 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 190.7 |
Note 6 - Debt - Credit Agreemen
Note 6 - Debt - Credit Agreement (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Interest expense related to amortization of debt issuance costs | $ 418 | $ 1,192 | |||
Credit Agreement [Member] | |||||
Debt issuance costs capitalized | $ 7 | $ 2,797 | 15 | 2,846 | |
Interest expense related to amortization of debt issuance costs | 210 | 217 | 419 | 462 | |
Credit facility interest expense(2) | [1] | $ 995 | $ 893 | $ 1,775 | $ 1,836 |
Weighted average interest rate under credit facility(2) | [1] | 3.39% | 3.10% | 3.14% | 3.25% |
Credit Agreement [Member] | Debt Issuance Costs Due to Amendments [Member] | |||||
Write off of debt issuance costs | [2] | $ 0 | $ 0 | $ 0 | $ 147 |
Credit Agreement [Member] | Debt Issuance Costs Due to New Credit Facility [Member] | |||||
Write off of debt issuance costs | $ 0 | $ 583 | $ 0 | $ 583 | |
[1]Excludes interest expense related to amortization and write off of debt issuance costs.[2]On January 8, 2021, the previous credit facility was amended to, among other things, reduce the revolving loan facility from $400.0 million to $350.0 million upon the sale of the crude oil terminalling segment. |
Note 7 - Net Income Per Limit_3
Note 7 - Net Income Per Limited Partner Unit - Earning Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 6,345 | $ 7,283 | $ 12,987 | $ 88,936 |
General partner interest in net income | 101 | 116 | 206 | 1,408 |
Preferred interest in net income | 6,150 | 6,156 | 12,300 | 12,497 |
Net income available to limited partners | $ 94 | $ 1,011 | $ 481 | $ 75,031 |
Common units (in shares) | 41,872 | 41,468 | 41,845 | 41,449 |
Restricted and phantom units (in shares) | 1,672 | 1,551 | 1,476 | 1,359 |
Total units (in shares) | 43,544 | 43,019 | 43,321 | 42,808 |
Basic and diluted net income from discontinued operations per common unit (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 1.74 |
Basic and diluted net income from continuing operations per common unit (in dollars per share) | 0 | 0.02 | 0.01 | 0.01 |
Basic and diluted net income per common unit (in dollars per share) | $ 0 | $ 0.02 | $ 0.01 | $ 1.75 |
Note 8 - Partners' Capital an_2
Note 8 - Partners' Capital and Distributions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Partners' Capital Account, Treasury Units, Purchased | $ 5,163 | ||
Preferred Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 6,200 | ||
Common Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in dollars per share) | $ 0.0425 | ||
Distribution Made to Limited Partner, Distribution Date | Aug. 12, 2022 | ||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 1,900 | ||
Distribution Made to Limited Partner, Date of Record | Aug. 05, 2022 | ||
Holders of Phantom and Restricted Units [Member] | Common Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 100 | ||
Preferred Partner [Member] | |||
Partners' Capital Account, Units, Treasury Units Purchased (in shares) | 0 | 688,417 | |
Partners' Capital Account, Treasury Units, Purchased, Per Unit (in dollars per share) | $ 7.50 | ||
Partners' Capital Account, Treasury Units, Purchased | $ 5,163 | ||
Preferred Units, Per Unit (in dollars per share) | $ 7.23 | ||
Partners Capital Account, Treasury Units, Purchases, Additional Value | $ 200 | ||
Preferred Partner [Member] | Preferred Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Declaration Date | Jul. 26, 2022 | ||
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in dollars per share) | $ 0.17875 | ||
Distribution Made to Limited Partner, Distribution Date | Aug. 12, 2022 | ||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 6,200 | ||
Distribution Made to Limited Partner, Date of Record | Aug. 05, 2022 | ||
General Partner [Member] | |||
Partners' Capital Account, Treasury Units, Purchased | 0 | ||
General Partner [Member] | Preferred Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 100 | ||
General Partner [Member] | Common Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Cash Distributions Declared | 100 | ||
Limited Partner [Member] | |||
Partners' Capital Account, Treasury Units, Purchased | $ 0 | ||
Limited Partner [Member] | Common Unit, Cash Distribution [Member] | |||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 1,800 |
Note 9 - Related-party Transa_2
Note 9 - Related-party Transactions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Due from Related Parties, Current, Total | $ 528 | $ 528 | $ 369 | ||
Ergon [Member] | |||||
Revenue from Related Parties | 12,300 | $ 12,000 | 24,700 | $ 23,900 | |
Due from Related Parties, Current, Total | 500 | 500 | 400 | ||
Deferred Revenue, Total | 7,900 | 7,900 | $ 9,300 | ||
Ergon [Member] | Ergon Operating and Maintenance Agreement [Member] | |||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 4,800 | $ 4,600 | $ 9,600 | $ 9,300 |
Note 10 - Long-term Incentive_3
Note 10 - Long-term Incentive Plan (Details Textual) - Long-Term Incentive Plan [Member] - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 8,100,000 | 8,100,000 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 2.6 | $ 2.6 | ||||||
Share-Based Payment Arrangement, Expense | $ 0.3 | $ 0.2 | $ 0.6 | $ 0.3 | ||||
Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
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% | |||||||
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% | |||||||
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% | |||||||
Phantom Share Units (PSUs) [Member] | The 2022 Awards [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Phantom Share Units (PSUs) [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | The 2022 Awards [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
Phantom Share Units (PSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member] | The 2022 Awards [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
Phantom Share Units (PSUs) [Member] | Share-Based Payment Arrangement, Tranche Three [Member] | The 2022 Awards [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
Phantom Share Units (PSUs) [Member] | Vesting 100% After Three Years [Member] | The 2021 Awards [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Phantom Share Units (PSUs) [Member] | Vesting 100% After Three Years [Member] | The 2020 Awards [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Director [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 21,228 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.26 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Fair Value, Without Vesting Requirement | $ 0.1 | |||||||
Director [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | [1] | $ 3.26 | $ 2.06 | $ 1.07 | ||||
[1]Fair value is the closing market price on the grant date of the awards. |
Note 10 - Long-term Incentive_4
Note 10 - Long-term Incentive Plan - Information on Outstanding Grants Made to Directors Under the LTIP (Details) - Long-Term Incentive Plan [Member] - Director [Member] - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.26 | |||
Restricted Stock [Member] | ||||
Granted, number of units (in shares) | 22,743 | 7,500 | 7,500 | |
Weighted Average Grant Date Fair Value (in dollars per share) | [1] | $ 3.26 | $ 2.06 | $ 1.07 |
Grant Date Total Fair Value | $ 74 | $ 15 | $ 8 | |
[1]Fair value is the closing market price on the grant date of the awards. |
Note 10 - Long-term Incentive_5
Note 10 - 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 | ||||
Mar. 31, 2022 | Mar. 31, 2021 | Oct. 31, 2020 | Mar. 31, 2020 | ||
Granted, number of units (in shares) | 558,411 | 530,435 | 16,339 | 600,396 | |
Weighted Average Grant Date Fair Value (in dollars per share) | [1] | $ 3.25 | $ 2.71 | $ 1.53 | $ 0.90 |
Grant Date Total Fair Value | $ 1,815 | $ 1,437 | $ 25 | $ 540 | |
[1]Fair value is the closing market price on the grant date of the awards. |
Note 10 - Long-term Incentive_6
Note 10 - 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] | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Nonvested, number of units, beginning balance (in shares) | shares | 1,555,290 |
Nonvested, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 1.66 |
Granted, number of units (in shares) | shares | 558,411 |
Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 3.25 |
Vested, number of units (in shares) | shares | 472,465 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.13 |
Nonvested, number of units, ending balance (in shares) | shares | 1,641,236 |
Nonvested, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 2.33 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurements (Details Textual) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets, Fair Value Disclosure | $ 0 | |
Financial Liabilities Fair Value Disclosure, Total | $ 0 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingencies (Details Textual) $ in Millions | Jun. 30, 2022 USD ($) |
Accrual for Environmental Loss Contingencies, Ending Balance | $ 2 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - Merger Agreement [Member] | Apr. 21, 2022 $ / shares |
Business Acquisition, Common Unit Price (in dollars per share) | $ 4.65 |
Business Acquisition, Series A Preferred Unit of the Partnership (in dollars per share) | $ 8.75 |