Adams Resources & Energy (AE) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-07908
Entity Registrant Name	ADAMS RESOURCES & ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1753147
Entity Address, Address Line One	17 South Briar Hollow Lane
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77027
City Area Code	713
Local Phone Number	881-3600
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	AE
Security Exchange Name	NYSEAMER
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
Entity Common Stock, Shares Outstanding		2,546,441
Entity Central Index Key	0000002178
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 16,313	$ 20,532
Restricted cash	8,575	10,535
Accounts receivable, net of allowance for doubtful accounts of $117 and $88, respectively	219,263	189,039
Inventory	27,650	26,919
Derivative assets	5	0
Income tax receivable	510	0
Prepayments and other current assets	2,470	3,118
Total current assets	274,786	250,143
Property and equipment, net	111,042	106,425
Operating lease right-of-use assets, net	6,212	7,720
Intangible assets, net	8,407	9,745
Goodwill	6,673	6,428
Other assets	3,475	3,698
Total assets	410,595	384,159
Current liabilities:
Derivative liabilities	0	330
Current portion of finance lease obligations	6,863	4,382
Current portion of operating lease liabilities	2,769	2,712
Current portion of long-term debt	2,500	0
Other current liabilities	13,856	19,214
Total current liabilities	252,601	231,060
Other long-term liabilities:
Long-term debt	20,000	24,375
Asset retirement obligations	2,499	2,459
Finance lease obligations	22,292	12,085
Operating lease liabilities	3,446	5,007
Deferred taxes and other liabilities	15,696	15,996
Total liabilities	316,534	290,982
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred stock – $1.00 par value, 960,000 shares authorized, none outstanding	0	0
Common stock – $0.10 par value, 7,500,000 shares authorized, 2,546,441 and 2,495,484 shares outstanding, respectively	253	248
Contributed capital	21,653	19,965
Retained earnings	72,155	72,964
Total shareholders’ equity	94,061	93,177
Total liabilities and shareholders’ equity	410,595	384,159
Nonrelated Party
Current liabilities:
Accounts payable	226,613	204,391
Accounts payable – related party	226,613	204,391
Related Party
Current liabilities:
Accounts payable	0	31
Accounts payable – related party	$ 0	$ 31

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Allowance for doubtful accounts	$ 117	$ 88
Shareholders’ equity:
Preferred stock - par value (in dollars per share)	$ 1	$ 1
Preferred stock - shares authorized (in shares)	960,000	960,000
Preferred stock - shares outstanding (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.10	$ 0.10
Common stock - shares authorized (in shares)	7,500,000	7,500,000
Common stock - shares outstanding (in shares)	2,546,441	2,495,484

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Billings to KSA and affiliates	$ 760,614	$ 852,901	$ 2,035,542	$ 2,619,196
Costs and expenses:
General and administrative	4,162	4,630	10,649	12,860
Depreciation and amortization	6,936	6,008	21,289	16,109
Total costs and expenses	756,689	849,908	2,032,467	2,605,095
Operating earnings	3,925	2,993	3,075	14,101
Other income (expense):
Interest and other income	119	338	893	665
Interest expense	(1,027)	(119)	(2,525)	(369)
Total other (expense) income, net	(908)	219	(1,632)	296
Earnings before income taxes	3,017	3,212	1,443	14,397
Income tax (provision) benefit	(759)	(1,022)	(357)	(3,641)
Net earnings	$ 2,258	$ 2,190	$ 1,086	$ 10,756
Earnings per share:
Basic net earnings per common share (in dollars per share)	$ 0.89	$ 0.50	$ 0.43	$ 2.46
Diluted net earnings per common share (in dollars per share)	0.88	0.50	0.42	2.44
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24	$ 0.72	$ 0.72
Marketing
Revenues:
Billings to KSA and affiliates	$ 719,925	$ 814,394	$ 1,913,673	$ 2,524,465
Costs and expenses:
Cost of goods and services sold	710,169	807,316	1,894,416	2,498,474
Transportation
Revenues:
Billings to KSA and affiliates	24,206	29,830	75,103	86,054
Costs and expenses:
Cost of goods and services sold	19,642	23,732	62,315	68,271
Pipeline and storage
Revenues:
Billings to KSA and affiliates	59	0	308	0
Costs and expenses:
Cost of goods and services sold	659	640	2,350	1,799
Logistics and repurposing
Revenues:
Billings to KSA and affiliates	16,424	8,677	46,458	8,677
Costs and expenses:
Cost of goods and services sold	$ 15,121	$ 7,582	$ 41,448	$ 7,582

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net earnings	$ 1,086	$ 10,756
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	21,289	16,109
Gains on sales of property	(1,429)	(1,709)
Provision for doubtful accounts	29	(20)
Stock-based compensation expense	1,044	712
Change in contingent consideration liability	(2,566)	0
Deferred income taxes	3	(1,761)
Net change in fair value contracts	(335)	(1,884)
Changes in assets and liabilities:
Accounts receivable	(30,253)	(56,060)
Accounts receivable/payable, affiliates	(31)	17
Inventories	(731)	(10,259)
Income tax receivable	(510)	6,424
Prepayments and other current assets	648	468
Accounts payable	22,239	46,925
Accrued liabilities	(2,709)	6,489
Other	64	(375)
Net cash provided by operating activities	7,838	15,832
Investing activities:
Property and equipment additions	(8,917)	(6,797)
Acquisition of Firebird and Phoenix, net of cash acquired	0	(33,590)
Proceeds from property sales	3,078	2,209
Insurance and state collateral refunds	0	331
Net cash used in investing activities	(5,839)	(37,847)
Financing activities:
Borrowings under Credit Agreement	76,000	45,000
Repayments under Credit Agreement	(77,875)	(30,000)
Principal repayments of finance lease obligations	(4,944)	(3,491)
Net proceeds from sale of equity	549	283
Dividends paid on common stock	(1,908)	(3,180)
Net cash (used in) provided by financing activities	(8,178)	8,612
Increase (Decrease) in cash and cash equivalents, including restricted cash	(6,179)	(13,403)
Cash and cash equivalents, including restricted cash, at beginning of period	31,067	107,317
Cash and cash equivalents, including restricted cash, at end of period	$ 24,888	$ 93,914

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Contributed Capital	Retained Earnings
Beginning balance at Dec. 31, 2021	$ 160,386	$ 433	$ 16,913	$ 143,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	6,090			6,090
Stock-based compensation expense	195		195
Vesting of restricted awards	0	2	(2)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(86)		(86)
Dividends declared:
Common stock, $0.24/share	(1,048)			(1,048)
Awards under LTIP, $0.24/share	(16)			(16)
Ending balance at Mar. 31, 2022	165,521	435	17,020	148,066
Beginning balance at Dec. 31, 2021	160,386	433	16,913	143,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	10,756
Issuance of common shares for acquisition	1,364
Ending balance at Sep. 30, 2022	169,251	438	18,218	150,595
Beginning balance at Mar. 31, 2022	165,521	435	17,020	148,066
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	2,476			2,476
Stock-based compensation expense	263		263
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(24)		(24)
Shares sold under at-the-market offering program	283	1	282
Dividends declared:
Common stock, $0.24/share	(1,049)			(1,049)
Awards under LTIP, $0.24/share	(18)			(18)
Ending balance at Jun. 30, 2022	167,452	436	17,541	149,475
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	2,190			2,190
Stock-based compensation expense	254		254
Issuance of common shares for acquisition	425	2	423
Dividends declared:
Common stock, $0.24/share	(1,054)			(1,054)
Awards under LTIP, $0.24/share	(16)			(16)
Ending balance at Sep. 30, 2022	169,251	438	18,218	150,595
Beginning balance at Dec. 31, 2022	93,177	248	19,965	72,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(1,999)			(1,999)
Stock-based compensation expense	283		283
Vesting of restricted awards	0	3	(3)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(222)		(222)
Shares sold under at-the-market offering program	549	1	548
Dividends declared:
Common stock, $0.24/share	(608)			(608)
Awards under LTIP, $0.24/share	(25)			(25)
Ending balance at Mar. 31, 2023	91,155	252	20,571	70,332
Beginning balance at Dec. 31, 2022	93,177	248	19,965	72,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	1,086
Issuance of common shares for acquisition	0
Ending balance at Sep. 30, 2023	94,061	253	21,653	72,155
Beginning balance at Mar. 31, 2023	91,155	252	20,571	70,332
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	827			827
Stock-based compensation expense	372		372
Dividends declared:
Common stock, $0.24/share	(608)			(608)
Awards under LTIP, $0.24/share	(25)			(25)
Ending balance at Jun. 30, 2023	91,721	252	20,943	70,526
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	2,258			2,258
Stock-based compensation expense	389		389
Vesting of restricted awards	322	1	321
Dividends declared:
Common stock, $0.24/share	(609)			(609)
Awards under LTIP, $0.24/share	(20)			(20)
Ending balance at Sep. 30, 2023	$ 94,061	$ 253	$ 21,653	$ 72,155

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24
Awards under LTIP (in dollars per share)	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, truck and pipeline transportation of crude oil, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). In addition, we conduct tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with eighteen terminals across the U.S. We also recycle and repurpose off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” “Adams” or the “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries. We operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals. See Note 8 for further information regarding our business segments. Basis of Presentation Our results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of results expected for the full year of 2023. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the SEC on March 16, 2023. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Cash and cash equivalents $ 16,313 $ 20,532 Restricted cash: Collateral for outstanding letters of credit (1) 357 892 Captive insurance subsidiary (2) 8,218 9,643 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 24,888 $ 31,067 _____________ (1) Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit. (2) $1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder represents amounts paid to our captive insurance company for insurance premiums. Common Shares Outstanding The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2023 2,495,484 Vesting of restricted stock unit awards (see Note 13) 20,291 Vesting of performance share unit awards (see Note 13) 12,319 Shares withheld to cover taxes upon vesting of equity awards (8,089) Shares sold under at-the-market offering program 14,680 Balance, March 31, 2023 2,534,685 No activity — Balance, June 30, 2023 2,534,685 Vesting of shares issued in acquisition 10,172 Vesting of restricted stock unit awards (see Note 13) 1,584 Balance, September 30, 2023 2,546,441 Earnings Per Share Basic earnings per share is computed by dividing our net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by giving effect to all potential common shares outstanding, including shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, as amended and restated (“2018 LTIP”), or granted as employment inducement awards outside of the 2018 LTIP, are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 13 for further discussion). The calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Earnings per share — numerator: Net earnings $ 2,258 $ 2,190 $ 1,086 $ 10,756 Denominator: Basic weighted average number of shares outstanding 2,541 4,387 2,531 4,373 Basic net earnings per share $ 0.89 $ 0.50 $ 0.43 $ 2.46 Diluted earnings per share: Diluted weighted average number of shares outstanding: Common shares 2,541 4,387 2,531 4,373 Restricted stock unit awards 15 20 15 21 Performance share unit awards (1) 14 13 18 12 Total diluted shares 2,570 4,420 2,564 4,406 Diluted net earnings per share $ 0.88 $ 0.50 $ 0.42 $ 2.44 _______________ (1) The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. Equity At-The-Market Offerings During the nine months ended September 30, 2023, we received net proceeds of approximately $0.6 million (net of offering costs to B. Riley Securities, Inc. of $27 thousand) from the sale of 14,680 of our common shares at an average price per share of approximately $40.74 in at-the-market offerings under our At Market Issuance Sales Agreement with B. Riley Securities, Inc. dated December 23, 2020. Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. The fair value of the term loan under our credit agreement (see Note 11 for further information) is representative of the carrying value based upon the variable terms and management’s opinion that the current rates available to us with the same maturity and security structure are equivalent to that of the debt. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy. Fair value contracts consist of derivative financial instruments and are recorded as either an asset or liability measured at its fair value. Changes in fair value are recognized immediately in earnings unless the derivatives qualify for, and we elect, cash flow hedge accounting. We had no contracts designated for hedge accounting during any current reporting periods (see Note 12 for further information). Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis. In accordance with U.S. GAAP for interim reporting, we have historically estimated our full-year effective tax rate and applied this rate to ordinary income or loss for the reporting period. We have determined that since small changes in estimated ordinary income would result in significant changes in the estimated annual effective tax rate, this historical method would not provide reliable results for the three months ended September 30, 2023. Therefore, a discrete year-to-date method of reporting was used for the three months ended September 30, 2023. We will continue to evaluate income tax estimates under the historical method in subsequent quarters and employ a discrete effective tax rate method if warranted. Inventory Inventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage costs and expenses on our consolidated statements of operations. Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows. See Note 5 for additional information regarding our property and equipment. Stock-Based Compensation We measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and is amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur. See Note 13 for additional information regarding our 2018 LTIP.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Disaggregation The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Crude Oil Marketing: Revenue from contracts with customers: Goods transferred at a point in time $ 710,010 $ 802,707 $ 1,878,735 $ 2,491,066 Services transferred over time 427 — 763 — Total revenues from contracts with customers 710,437 802,707 1,879,498 2,491,066 Other (1) 9,488 11,687 34,175 33,399 Total crude oil marketing revenue $ 719,925 $ 814,394 $ 1,913,673 $ 2,524,465 Transportation: Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 24,206 29,830 75,103 86,054 Total revenues from contracts with customers 24,206 29,830 75,103 86,054 Other — — — — Total transportation revenue $ 24,206 $ 29,830 $ 75,103 $ 86,054 Pipeline and storage: (2) Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 59 — 308 — Total revenues from contracts with customers 59 — 308 — Other — — — — Total pipeline and storage revenue $ 59 $ — $ 308 $ — Logistics and repurposing: Revenue from contracts with customers: Goods transferred at a point in time $ 8,545 $ 4,178 $ 25,708 $ 4,178 Services transferred over time 7,879 4,499 20,750 4,499 Total revenues from contracts with customers 16,424 8,677 46,458 8,677 Other — — — — Total logistics and repurposing revenue $ 16,424 $ 8,677 $ 46,458 $ 8,677 Subtotal: Total revenues from contracts with customers $ 751,126 $ 841,214 $ 2,001,367 $ 2,585,797 Total other (1) 9,488 11,687 34,175 33,399 Total consolidated revenues $ 760,614 $ 852,901 $ 2,035,542 $ 2,619,196 _______________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . (2) All pipeline and storage revenue during the three and nine months ended September 30, 2022 and for the period from January 1, 2023 to May 31, 2023 was from an affiliated shipper, GulfMark Energy, Inc. (“GulfMark”), our subsidiary, and was eliminated in consolidation. During June 2023, we began earning revenue from an unaffiliated shipper. Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying unaudited condensed consolidated financial statements. Certain of our crude oil contracts may be with a single counterparty to provide for similar quantities of crude oil to be bought and sold at different locations. These contracts are entered into for a variety of reasons, including effecting the transportation of the commodity, to minimize credit exposure, and/or to meet the competitive demands of the customer. These buy/sell arrangements are reflected on a net revenue basis in the accompanying unaudited condensed consolidated financial statements. Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenue gross-up $ 257,965 $ 430,244 $ 785,636 $ 1,156,711

Prepayments and Other Current A

Prepayments and Other Current Assets	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and Other Current Assets	Prepayments and Other Current Assets The components of prepayments and other current assets were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Insurance premiums $ 302 $ 1,220 Rents, licenses and other 2,168 1,898 Total prepayments and other current assets $ 2,470 $ 3,118

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life September 30, December 31, in Years 2023 2022 Tractors and trailers 5 – 6 $ 123,694 $ 128,223 Field equipment 2 – 5 24,820 24,676 Finance lease ROU assets (1) 3 – 6 40,023 25,106 Pipeline and related facilities 20 – 25 20,397 20,362 Linefill and base gas (2) N/A 3,922 3,922 Buildings 5 – 39 16,189 16,163 Office equipment 2 – 5 2,964 2,937 Land N/A 4,163 2,309 Construction in progress N/A 4,985 3,629 Total 241,157 227,327 Less accumulated depreciation and amortization (130,115) (120,902) Property and equipment, net $ 111,042 $ 106,425 _______________ (1) Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 15 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $12.5 million and $9.9 million at September 30, 2023 and December 31, 2022, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Depreciation and amortization, excluding amounts under finance leases $ 4,523 $ 4,392 $ 14,260 $ 11,644 Amortization of property and equipment under finance leases 1,983 1,323 5,691 3,792 Amortization of intangible assets 430 293 1,338 673 Total depreciation and amortization $ 6,936 $ 6,008 $ 21,289 $ 16,109

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition On August 12, 2022, we entered into a purchase agreement with each of Scott Bosard, Trey Bosard and Tyler Bosard (collectively, the “Sellers”) to acquire all of the equity interests of Firebird Bulk Carriers, Inc. (“Firebird”) and Phoenix Oil, Inc. (“Phoenix”) for approximately $39.3 million, consisting of a cash payment of $35.4 million, 45,777 of our common shares valued at $1.4 million, of which 15,259 shares were issued immediately and 30,518 shares will be issued over a three year period, and contingent consideration valued at approximately $2.6 million. We funded the cash consideration using cash on hand at the time of acquisition. Pursuant to the purchase agreement, the purchase price was subject to customary post-closing adjustment provisions, including an earn-out payable to the Sellers to the extent the earnings before interest, taxes, depreciation and amortization (EBITDA) of Phoenix exceeded a specified threshold during the twelve full calendar months after the closing date of the acquisition. Firebird is an interstate bulk motor carrier of crude oil, condensate, fuels, oils and other petroleum products. Firebird is headquartered in Humble, Texas, with six terminal locations throughout Texas, and operates 130 tractors and 209 trailers largely in the Eagle Ford basin. Phoenix is also headquartered in Humble, Texas, and recycles and repurposes off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Firebird and Phoenix have formed our new logistics and repurposing segment. We expect that this acquisition will offer us the opportunity to expand our value chain and market impact, with numerous synergies benefiting the combined companies. We accounted for the acquisition of Firebird and Phoenix under the acquisition method in accordance with ASC 805, Business Combinations. The allocation of purchase consideration was based upon the estimated fair value of the tangible and identifiable intangible assets acquired and liabilities assumed in the acquisition. The purchase price allocation was subject to revision as acquisition-date fair value analyses were completed and if additional information about facts and circumstances that existed at the acquisition date became available. During the second quarter of 2023, we revised the fair value of certain tractors and trailers, resulting in a decrease in the amount allocated to property and equipment of $0.2 million and with a corresponding increase in goodwill. No other changes to the purchase price allocation occurred during the first half of 2023. The purchase price consideration, as well as the estimated fair values of the assets acquired and liabilities assumed, was finalized during the second quarter of 2023. The following table presents the final purchase price allocation of the indentifiable assets acquired and liabilities assumed at the acquisition date of August 12, 2022 (in thousands): Assets acquired: Cash and cash equivalents $ 2,203 Accounts receivable 4,653 Inventory 643 Other current assets 137 Property and equipment 24,809 Intangible assets 7,607 Goodwill 6,673 Other assets 458 Total assets acquired $ 47,183 Liabilities assumed: Accounts payable and other accrued liabilities $ (1,696) Deferred tax liabilities (6,207) Total liabilities assumed $ (7,903) Net assets acquired $ 39,280 During the second quarter of 2023, based upon a review of the contingent consideration calculation terms, we determined that no payment would be made to the Sellers, and as such, we adjusted our accrual of $2.6 million that had been recorded as part of the purchase price allocation. The reversal of the accrual for the contingent consideration is included in general and administrative expense on our unaudited condensed consolidated statements of operations. Unaudited Pro Forma Financial Information The unaudited pro forma condensed consolidated results of operations in the table below are provided for illustrative purposes only and summarize the combined results of our operations and those of Firebird and Phoenix. For purposes of this pro forma presentation, the acquisition of Firebird and Phoenix is assumed to have occurred on January 1, 2022. The pro forma financial information for all periods presented also includes the estimated business combination accounting effects resulting from this acquisition, notably amortization expense from the acquired intangible assets and certain other integration related impacts. This unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had actually occurred on January 1, 2022, nor of the results of operations that may be obtained in the future (in thousands, except per share amounts). Three Months Ended Nine Months Ended September 30, September 30, 2022 2022 Revenues $ 860,771 $ 2,663,447 Net earnings 2,295 12,867 Basic net earnings per common share $ 0.52 $ 2.93 Diluted net earnings per common share $ 0.52 $ 2.91

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Components of other assets were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Insurance collateral deposits $ 503 $ 463 State collateral deposits 23 23 Materials and supplies 1,281 1,257 Debt issuance costs 1,343 1,595 Other 325 360 Total other assets $ 3,475 $ 3,698

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWe operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals. Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude oil marketing Trans-portation Pipeline and storage Logistics and repurposing (1) Other Total Three Months Ended September 30, 2023 Segment revenues (2) $ 719,925 $ 24,333 $ 770 $ 16,457 $ — $ 761,485 Less: Intersegment revenues (2) — (127) (711) (33) — (871) Revenues $ 719,925 $ 24,206 $ 59 $ 16,424 $ — $ 760,614 Segment operating earnings (losses) (3) 7,664 1,558 (866) (269) — 8,087 Depreciation and amortization 2,092 3,006 266 1,572 — 6,936 Property and equipment additions (4) 140 1,416 182 1,271 — 3,009 Three Months Ended September 30, 2022 Segment revenues (2) $ 814,394 $ 29,896 $ 852 $ 8,677 $ — $ 853,819 Less: Intersegment revenues (2) — (66) (852) — — (918) Revenues $ 814,394 $ 29,830 $ — $ 8,677 $ — $ 852,901 Segment operating earnings (losses) (3) 5,070 3,307 (909) 155 — 7,623 Depreciation and amortization 2,008 2,791 269 940 — 6,008 Property and equipment additions (4) 343 722 817 132 — 2,014 Nine Months Ended September 30, 2023 Segment revenues (2) $ 1,913,673 $ 75,439 $ 2,473 $ 48,984 $ — $ 2,040,569 Less: Intersegment revenues (2) — (336) (2,165) (2,526) — (5,027) Revenues $ 1,913,673 $ 75,103 $ 308 $ 46,458 $ — $ 2,035,542 Segment operating earnings (losses) (3) 12,922 3,515 (2,846) 133 — 13,724 Depreciation and amortization 6,335 9,273 804 4,877 — 21,289 Property and equipment additions (4) (5) 809 2,754 1,423 3,819 112 8,917 Nine Months Ended September 30, 2022 Segment revenues (2) $ 2,524,465 $ 86,207 $ 2,912 $ 8,677 $ — $ 2,622,261 Less: Intersegment revenues (2) — (153) (2,912) — — (3,065) Revenues $ 2,524,465 $ 86,054 $ — $ 8,677 $ — $ 2,619,196 Segment operating earnings (losses) (3) 20,301 9,112 (2,607) 155 — 26,961 Depreciation and amortization 5,690 8,671 808 940 — 16,109 Property and equipment additions (4) 4,351 1,416 890 132 8 6,797 _______________ (1) On August 12, 2022, we acquired a transportation logistics and recycling and repurposing business, resulting in a new operating segment. (2) Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed. (3) Our crude oil marketing segment’s operating earnings (losses) included inventory liquidation gains of $4.9 million and inventory valuation losses $5.1 million for the three months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, our crude oil marketing segment’s operating (losses) earnings included inventory liquidation gains of $2.9 million and $2.1 million, respectively. (4) Our segment property and equipment additions do not include assets acquired under finance leases during the three and nine months ended September 30, 2023 and 2022. See Note 15 for further information. (5) Amounts included in property and equipment additions for Other are additions for computer or other office equipment and a company vehicle at our corporate headquarters, which were not attributed or allocated to any of our reporting segments. Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Segment operating earnings $ 8,087 $ 7,623 $ 13,724 $ 26,961 General and administrative (4,162) (4,630) (10,649) (12,860) Operating earnings 3,925 2,993 3,075 14,101 Interest and other income 119 338 893 665 Interest expense (1,027) (119) (2,525) (369) Earnings before income taxes $ 3,017 $ 3,212 $ 1,443 $ 14,397 Identifiable assets by business segment were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Reporting segment: Crude oil marketing $ 251,449 $ 215,813 Transportation 59,808 60,405 Pipeline and storage 25,123 25,815 Logistics and repurposing 44,264 45,307 Cash and other (1) 29,951 36,819 Total assets $ 410,595 $ 384,159 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates

Transactions with Affiliates	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Transactions with Affiliates	Transactions with Affiliates We enter into certain transactions in the normal course of business with affiliated entities. Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 KSA and affiliate billings to us $ — $ 1 $ — $ 7 Billings to KSA and affiliates — 5 9 15 Rentals paid to an affiliate of KSA — 136 232 388 Payments to an affiliate of KSA for purchase of vehicles (1) — — 157 78 Rentals paid to affiliates of Scott Bosard 125 — 405 — Crude oil purchases from affiliate (2) 9,362 1,403 13,940 1,403 _______________ (1) Amounts paid to West Point Buick GMC were for the purchase of three and two pickup trucks during the nine months ended September 30, 2023 and 2022, respectively. (2) From time to time, GulfMark purchases crude oil from Endeavor Natural Gas, L.P., of which one of our Board members is the Managing Partner. Affiliate transactions included direct cost reimbursement for shared phone and administrative services from KSA Industries, Inc. (“KSA”), an affiliated entity. We lease our corporate office space in a building operated by 17 South Briar Hollow Lane, LLC, an affiliate of KSA. In addition, we purchase pickup trucks from West Point Buick GMC, an affiliate of KSA. KSA was our largest shareholder until October 31, 2022 when we repurchased the common stock owned by it. An affiliate of KSA served on our Board of Directors through the date of our 2023 annual meeting, when he retired. As of May 31, 2023, KSA and its affiliates are no longer related parties. The table above consequently does not reflect any payments to or from KSA after that date. two

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The components of other current liabilities were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Accrual for payroll, benefits and bonuses $ 5,489 $ 6,435 Accrued automobile and workers’ compensation claims 5,989 5,579 Contingent consideration for acquisition (see Note 6) — 2,566 Accrued medical claims 505 1,007 Accrued taxes 620 2,208 Other 1,253 1,419 Total other current liabilities $ 13,856 $ 19,214

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On October 27, 2022, we entered into a credit agreement (the “Credit Agreement”) with Cadence Bank, as administrative agent, swingline lender and issuing lender, and the other lenders party thereto (collectively, the “Lenders”). The Credit Agreement provides for (a) a revolving credit facility that allows for borrowings up to $60.0 million in aggregate principal amount from time to time (the “Revolving Credit Facility”) and (b) a Term Loan in aggregate principal amount of $25.0 million (the “Term Loan”). The Revolving Credit Facility matures on October 27, 2027 unless earlier terminated. Pursuant to the terms of the Credit Agreement, we are required to maintain compliance with the following financial covenants on a pro forma basis, after giving effect to any borrowings (in each case commencing with the fiscal quarter ending December 31, 2022): (i) the Consolidated Total Leverage Ratio shall not be greater than 2.50 to 1.00; (ii) the Asset Coverage Ratio shall not be less than 2.00 to 1.00; and (iii) the Consolidated Fixed Charge Coverage Ratio shall not be less than 1.25 to 1.00. Each of such ratios is calculated as outlined in the Credit Agreement and subject to certain exclusions and qualifications described therein. On August 2, 2023, we entered into Amendment No. 1 (the “Amendment”) to the Credit Agreement. The Amendment (i) clarifies our ability to exclude crude oil inventory valuation losses (and, to the extent included in our consolidated net income, inventory liquidation gains) from the calculation of Consolidated EBITDA for purposes of the related financial covenants, (ii) provides for the exclusion of unusual and non-recurring losses and expenses from the calculation of Consolidated EBITDA, not to exceed 10.0 percent of Consolidated EBITDA for the period, and (iii) amends the definition of Consolidated Funded Indebtedness to include letters of credit and banker’s acceptances only to the extent such letters of credit or banker’s acceptances have been drawn, for purposes of the Consolidated Total Leverage Ratio calculation in the Credit Agreement. The Amendment applies to our fiscal period ending June 30, 2023 and thereafter. At September 30, 2023, we had $22.5 million outstanding under the Term Loan at a weighted average interest rate of 7.66 percent, and $20.4 million letters of credit outstanding at a fee of 2.25 percent. No amounts were outstanding under the Revolving Credit Facility. The following table presents the scheduled maturities of principal amounts of our debt obligations at September 30, 2023 for the next five years, and in total thereafter (in thousands): Remainder of 2023 $ 625 2024 2,500 2025 2,500 2026 2,500 2027 14,375 Total debt maturities $ 22,500

Derivative Instruments and Fair

Derivative Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Fair Value Measurements	Derivative Instruments and Fair Value Measurements Derivative Instruments In the normal course of our operations, our crude oil marketing segment purchases and sells crude oil. We seek to profit by procuring the commodity as it is produced and then delivering the material to the end users or the intermediate use marketplace. As typical for the industry, these transactions are made pursuant to the terms of forward month commodity purchase and/or sale contracts. Some of these contracts meet the definition of a derivative instrument, and therefore, we account for these contracts at fair value, unless the normal purchase and sale exception is applicable. These types of underlying contracts are standard for the industry and are the governing document for our crude oil marketing segment. None of our derivative instruments have been designated as hedging instruments. At September 30, 2023, we had in place one derivative instrument, entered into in 2022, for the purchase of 126,000 gallons of diesel fuel per month during January 2023 through December 2023. At December 31, 2022, we had in place three derivative instruments, entered into in 2022 for a total of 300,000 barrels of crude oil to be purchased and sold in January 2023, and one derivative instrument, also entered into in 2022, for the purchase of 126,000 gallons of diesel fuel per month during January 2023 through December 2023. The estimated fair value of forward month derivatives instruments reflected in the accompanying unaudited condensed consolidated balance sheets were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities September 30, 2023 Asset derivatives: Fair value forward derivative instruments at gross valuation $ 5 $ — $ — $ — Liability derivatives: Fair value forward derivative instruments at gross valuation — — — — Less counterparty offsets — — — — As reported fair value contracts $ 5 $ — $ — $ — December 31, 2022 Asset derivatives: Fair value forward derivative instruments at gross valuation $ — $ — $ — $ — Liability derivatives: Fair value forward derivative instruments at gross valuation — — 330 — Less counterparty offsets — — — — As reported fair value contracts $ — $ — $ 330 $ — We only enter into derivative instruments with creditworthy counterparties and evaluate our exposure to significant counterparties on an ongoing basis. At September 30, 2023 and December 31, 2022, we were not holding nor have we posted any collateral to support our forward month fair value derivative activity. We are not subject to any credit-risk related trigger events. We have no other financial investment arrangements that would serve to offset our derivative contracts. Forward month derivatives instruments reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenues – marketing $ — $ (14) $ — $ (9) Cost and expenses – marketing (36) 1,878 (335) 1,253 Fair Value Measurements The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total September 30, 2023 Derivatives: Current assets $ — $ 5 $ — $ — $ 5 Current liabilities — — — — — Net value $ — $ 5 $ — $ — $ 5 December 31, 2022 Derivatives: Current assets $ — $ — $ — $ — $ — Current liabilities — (330) — — (330) Net value $ — $ (330) $ — $ — $ (330) These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of these inputs requires judgments.

Stock-Based Compensation Plan

Stock-Based Compensation Plan	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plan	Stock-Based Compensation Plan We have in place a long-term incentive plan in which any employee or non-employee director who provides services to us is eligible to participate. The 2018 LTIP, which is overseen by the Compensation Committee of our Board of Directors, provides for the grant of various types of equity awards, of which restricted stock unit awards and performance-based compensation awards have been granted. In May 2022, our shareholders approved an amendment and restatement of the 2018 LTIP, in which the maximum number of shares authorized for issuance under the 2018 LTIP was increased by 150,000 shares to a total of 300,000 shares, and the term of the 2018 LTIP was extended through February 23, 2032. After giving effect to awards granted and forfeitures made under the 2018 LTIP and assuming the potential achievement of the maximum amounts of the performance factors through September 30, 2023, a total of 125,192 shares were available for issuance. Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Compensation expense $ 389 $ 254 $ 1,044 $ 712 At September 30, 2023 and December 31, 2022, we had $128,300 and $140,300, respectively, of accrued dividend amounts for awards granted under the 2018 LTIP or as inducement awards. Restricted Stock Unit Awards The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2023 70,244 $ 31.89 Granted (2) 23,409 $ 57.18 Vested (31,659) $ 31.78 Forfeited (1,831) $ 43.80 Restricted stock unit awards at September 30, 2023 60,163 $ 41.43 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during the first nine months of 2023 was $1.3 million based on grant date market prices of our common shares ranging from $37.56 to $58.05 per share. Unrecognized compensation cost associated with restricted stock unit awards was approximately $0.9 million at September 30, 2023. Due to the graded vesting provisions of these awards, we expect to recognize the remaining compensation cost for these awards over a weighted-average period of 1.5 years. Performance Share Unit Awards The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2023 30,687 $ 28.59 Granted (2) 12,061 $ 56.84 Vested (12,707) $ 25.70 Forfeited (680) $ 37.50 Performance share unit awards at September 30, 2023 29,361 $ 41.24 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of performance share unit awards issued during the first nine months of 2023 was $0.7 million based on grant date market prices of our common shares ranging from $38.42 to $58.05 per share and assuming a performance factor of 100 percent. Unrecognized compensation cost associated with performance share unit awards was approximately $0.7 million at September 30, 2023. We expect to recognize the remaining compensation cost for these awards over a weighted-average period of 2.1 years.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for interest $ 2,671 $ 369 Cash paid for federal and state income taxes 2,472 1,827 Cash refund for net operating loss (NOL) carryback under CARES Act — 6,907 Non-cash transactions: Change in accounts payable related to property and equipment additions 52 — Property and equipment acquired under finance leases 17,632 4,353 Issuance of shares for acquisition (see Note 6) — 1,364

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Finance lease cost: Amortization of ROU assets $ 1,983 $ 1,306 $ 5,691 $ 3,775 Interest on lease liabilities 408 84 955 242 Operating lease cost 927 781 2,720 2,130 Short-term lease cost 3,529 3,752 10,668 11,335 Variable lease cost 6 6 18 16 Total lease expense $ 6,853 $ 5,929 $ 20,052 $ 17,498 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 2,739 $ 2,112 Operating cash flows from finance leases (1) 851 238 Financing cash flows from finance leases 4,944 3,491 ROU assets obtained in exchange for new lease liabilities: Finance leases 17,632 4,353 Operating leases 667 2,715 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Nine Months Ended September 30, 2023 2022 Weighted-average remaining lease term (years): Finance leases 3.65 3.33 Operating leases 3.05 3.57 Weighted-average discount rate: Finance leases 5.4% 2.9% Operating leases 4.2% 3.9% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): September 30, December 31, 2023 2022 Assets Finance lease ROU assets (1) $ 27,482 $ 15,264 Operating lease ROU assets 6,212 7,720 Liabilities Current Finance lease liabilities 6,863 4,382 Operating lease liabilities 2,769 2,712 Noncurrent Finance lease liabilities 22,292 12,085 Operating lease liabilities 3,446 5,007 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at September 30, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 2,151 $ 765 2024 8,071 2,874 2025 8,376 1,146 2026 5,549 952 2027 5,981 602 Thereafter 2,685 236 Total lease payments 32,813 6,575 Less: Interest (3,658) (360) Present value of lease liabilities 29,155 6,215 Less: Current portion of lease obligation (6,863) (2,769) Total long-term lease obligation $ 22,292 $ 3,446 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Finance lease cost: Amortization of ROU assets $ 1,983 $ 1,306 $ 5,691 $ 3,775 Interest on lease liabilities 408 84 955 242 Operating lease cost 927 781 2,720 2,130 Short-term lease cost 3,529 3,752 10,668 11,335 Variable lease cost 6 6 18 16 Total lease expense $ 6,853 $ 5,929 $ 20,052 $ 17,498 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 2,739 $ 2,112 Operating cash flows from finance leases (1) 851 238 Financing cash flows from finance leases 4,944 3,491 ROU assets obtained in exchange for new lease liabilities: Finance leases 17,632 4,353 Operating leases 667 2,715 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Nine Months Ended September 30, 2023 2022 Weighted-average remaining lease term (years): Finance leases 3.65 3.33 Operating leases 3.05 3.57 Weighted-average discount rate: Finance leases 5.4% 2.9% Operating leases 4.2% 3.9% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): September 30, December 31, 2023 2022 Assets Finance lease ROU assets (1) $ 27,482 $ 15,264 Operating lease ROU assets 6,212 7,720 Liabilities Current Finance lease liabilities 6,863 4,382 Operating lease liabilities 2,769 2,712 Noncurrent Finance lease liabilities 22,292 12,085 Operating lease liabilities 3,446 5,007 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at September 30, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 2,151 $ 765 2024 8,071 2,874 2025 8,376 1,146 2026 5,549 952 2027 5,981 602 Thereafter 2,685 236 Total lease payments 32,813 6,575 Less: Interest (3,658) (360) Present value of lease liabilities 29,155 6,215 Less: Current portion of lease obligation (6,863) (2,769) Total long-term lease obligation $ 22,292 $ 3,446 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance We have accrued liabilities for estimated workers’ compensation and other casualty claims incurred based upon claim reserves plus an estimate for loss development and incurred but not reported claims. We self-insure a significant portion of expected losses relating to workers’ compensation, general liability and automobile liability, with a self-insured retention of $1.0 million. Insurance is purchased over our retention to reduce our exposure to catastrophic events. Estimates are recorded for potential and incurred outstanding liabilities for workers’ compensation, auto and general liability claims and claims that are incurred but not reported. Estimates are based on adjusters’ estimates, historical experience and statistical methods commonly used within the insurance industry that we believe are reliable. We have also engaged a third-party actuary to perform a review of our accrued liability for these claims as well as potential funded losses in our captive insurance company. Insurance estimates include certain assumptions and management judgments regarding the frequency and severity of claims, claim development and settlement practices and the selection of estimated loss among estimates derived using different methods. Unanticipated changes in these factors may produce materially different amounts of expense that would be reported under these programs. On October 1, 2020, we elected to utilize a wholly owned insurance captive to insure the self-insured retention for our workers’ compensation, general liability and automobile liability insurance programs. All accrued liabilities associated with periods from October 1, 2017 through current were transferred to the captive. We maintain excess property and casualty programs with third-party insurers in an effort to limit the financial impact of significant events covered under these programs. Our operating subsidiaries pay premiums to both the excess and reinsurance carriers and our captive for the estimated losses based on an external actuarial analysis. These premiums held by our wholly owned captive are currently held in a restricted account, resulting in a transfer of risk from our operating subsidiaries to the captive. We also maintain a self-insurance program for managing employee medical claims in excess of employee deductibles. As claims are paid, the liability is relieved. We also maintain third party insurance stop-loss coverage for individual medical claims exceeding a certain minimum threshold . In addition, we maintain $1.3 million of umbrella insurance coverage for annual aggregate medical claims exceeding approximately $11.3 million. Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Accrued automobile and workers’ compensation claims $ 5,989 $ 5,579 Accrued medical claims 505 1,007 Litigation From time to time as incidental to our operations, we may become involved in various lawsuits and/or disputes. As an operator of an extensive trucking fleet, we are a party to motor vehicle accidents, worker compensation claims and other items of general liability as would be typical for the industry. We are presently unaware of any claims against us that are either outside the scope of insurance coverage or that may exceed the level of insurance coverage and could potentially represent a material adverse effect on our financial position, results of operations or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Organization	Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, truck and pipeline transportation of crude oil, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). In addition, we conduct tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with eighteen terminals across the U.S. We also recycle and repurpose off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” “Adams” or the “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries.
Basis of Presentation	Basis of Presentation Our results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of results expected for the full year of 2023. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the SEC on March 16, 2023. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of EstimatesThe preparation of our financial statements in conformity with GAAP requires management to use estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes. While we believe the estimates and assumptions used in the preparation of these condensed consolidated financial statements are appropriate, actual results could differ from those estimates.
Earnings Per Share	Earnings Per ShareBasic earnings per share is computed by dividing our net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by giving effect to all potential common shares outstanding, including shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, as amended and restated (“2018 LTIP”), or granted as employment inducement awards outside of the 2018 LTIP, are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 13 for further discussion).
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. The fair value of the term loan under our credit agreement (see Note 11 for further information) is representative of the carrying value based upon the variable terms and management’s opinion that the current rates available to us with the same maturity and security structure are equivalent to that of the debt. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis. In accordance with U.S. GAAP for interim reporting, we have historically estimated our full-year effective tax rate and applied this rate to ordinary income or loss for the reporting period. We have determined that since small changes in estimated ordinary income would result in significant changes in the estimated annual effective tax rate, this historical method would not provide reliable results for the three months ended September 30, 2023. Therefore, a discrete year-to-date method of reporting was used for the three months ended September 30, 2023. We will continue to evaluate income tax estimates under the historical method in subsequent quarters and employ a discrete effective tax rate method if warranted.
Inventory	InventoryInventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage costs and expenses on our consolidated statements of operations.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows.
Stock-Based Compensation	Stock-Based CompensationWe measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and is amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur.
Other Crude Oil Marketing Revenue	Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying unaudited condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Cash and cash equivalents $ 16,313 $ 20,532 Restricted cash: Collateral for outstanding letters of credit (1) 357 892 Captive insurance subsidiary (2) 8,218 9,643 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 24,888 $ 31,067 _____________ (1) Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit.
Schedule of Common Stock Outstanding	The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2023 2,495,484 Vesting of restricted stock unit awards (see Note 13) 20,291 Vesting of performance share unit awards (see Note 13) 12,319 Shares withheld to cover taxes upon vesting of equity awards (8,089) Shares sold under at-the-market offering program 14,680 Balance, March 31, 2023 2,534,685 No activity — Balance, June 30, 2023 2,534,685 Vesting of shares issued in acquisition 10,172 Vesting of restricted stock unit awards (see Note 13) 1,584 Balance, September 30, 2023 2,546,441
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Earnings per share — numerator: Net earnings $ 2,258 $ 2,190 $ 1,086 $ 10,756 Denominator: Basic weighted average number of shares outstanding 2,541 4,387 2,531 4,373 Basic net earnings per share $ 0.89 $ 0.50 $ 0.43 $ 2.46 Diluted earnings per share: Diluted weighted average number of shares outstanding: Common shares 2,541 4,387 2,531 4,373 Restricted stock unit awards 15 20 15 21 Performance share unit awards (1) 14 13 18 12 Total diluted shares 2,570 4,420 2,564 4,406 Diluted net earnings per share $ 0.88 $ 0.50 $ 0.42 $ 2.44 _______________

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Crude Oil Marketing: Revenue from contracts with customers: Goods transferred at a point in time $ 710,010 $ 802,707 $ 1,878,735 $ 2,491,066 Services transferred over time 427 — 763 — Total revenues from contracts with customers 710,437 802,707 1,879,498 2,491,066 Other (1) 9,488 11,687 34,175 33,399 Total crude oil marketing revenue $ 719,925 $ 814,394 $ 1,913,673 $ 2,524,465 Transportation: Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 24,206 29,830 75,103 86,054 Total revenues from contracts with customers 24,206 29,830 75,103 86,054 Other — — — — Total transportation revenue $ 24,206 $ 29,830 $ 75,103 $ 86,054 Pipeline and storage: (2) Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 59 — 308 — Total revenues from contracts with customers 59 — 308 — Other — — — — Total pipeline and storage revenue $ 59 $ — $ 308 $ — Logistics and repurposing: Revenue from contracts with customers: Goods transferred at a point in time $ 8,545 $ 4,178 $ 25,708 $ 4,178 Services transferred over time 7,879 4,499 20,750 4,499 Total revenues from contracts with customers 16,424 8,677 46,458 8,677 Other — — — — Total logistics and repurposing revenue $ 16,424 $ 8,677 $ 46,458 $ 8,677 Subtotal: Total revenues from contracts with customers $ 751,126 $ 841,214 $ 2,001,367 $ 2,585,797 Total other (1) 9,488 11,687 34,175 33,399 Total consolidated revenues $ 760,614 $ 852,901 $ 2,035,542 $ 2,619,196 _______________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . (2) All pipeline and storage revenue during the three and nine months ended September 30, 2022 and for the period from January 1, 2023 to May 31, 2023 was from an affiliated shipper, GulfMark Energy, Inc. (“GulfMark”), our subsidiary, and was eliminated in consolidation. During June 2023, we began earning revenue from an unaffiliated shipper.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenue gross-up $ 257,965 $ 430,244 $ 785,636 $ 1,156,711

Prepayments and Other Current_2

Prepayments and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepayments and Other Current Assets	The components of prepayments and other current assets were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Insurance premiums $ 302 $ 1,220 Rents, licenses and other 2,168 1,898 Total prepayments and other current assets $ 2,470 $ 3,118

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life September 30, December 31, in Years 2023 2022 Tractors and trailers 5 – 6 $ 123,694 $ 128,223 Field equipment 2 – 5 24,820 24,676 Finance lease ROU assets (1) 3 – 6 40,023 25,106 Pipeline and related facilities 20 – 25 20,397 20,362 Linefill and base gas (2) N/A 3,922 3,922 Buildings 5 – 39 16,189 16,163 Office equipment 2 – 5 2,964 2,937 Land N/A 4,163 2,309 Construction in progress N/A 4,985 3,629 Total 241,157 227,327 Less accumulated depreciation and amortization (130,115) (120,902) Property and equipment, net $ 111,042 $ 106,425 _______________ (1) Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 15 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $12.5 million and $9.9 million at September 30, 2023 and December 31, 2022, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Depreciation and amortization, excluding amounts under finance leases $ 4,523 $ 4,392 $ 14,260 $ 11,644 Amortization of property and equipment under finance leases 1,983 1,323 5,691 3,792 Amortization of intangible assets 430 293 1,338 673 Total depreciation and amortization $ 6,936 $ 6,008 $ 21,289 $ 16,109

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table presents the final purchase price allocation of the indentifiable assets acquired and liabilities assumed at the acquisition date of August 12, 2022 (in thousands): Assets acquired: Cash and cash equivalents $ 2,203 Accounts receivable 4,653 Inventory 643 Other current assets 137 Property and equipment 24,809 Intangible assets 7,607 Goodwill 6,673 Other assets 458 Total assets acquired $ 47,183 Liabilities assumed: Accounts payable and other accrued liabilities $ (1,696) Deferred tax liabilities (6,207) Total liabilities assumed $ (7,903) Net assets acquired $ 39,280
Schedule of Acquisition, Pro Forma Information	This unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had actually occurred on January 1, 2022, nor of the results of operations that may be obtained in the future (in thousands, except per share amounts). Three Months Ended Nine Months Ended September 30, September 30, 2022 2022 Revenues $ 860,771 $ 2,663,447 Net earnings 2,295 12,867 Basic net earnings per common share $ 0.52 $ 2.93 Diluted net earnings per common share $ 0.52 $ 2.91

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Components of other assets were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Insurance collateral deposits $ 503 $ 463 State collateral deposits 23 23 Materials and supplies 1,281 1,257 Debt issuance costs 1,343 1,595 Other 325 360 Total other assets $ 3,475 $ 3,698

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Information Concerning Business Activities	Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude oil marketing Trans-portation Pipeline and storage Logistics and repurposing (1) Other Total Three Months Ended September 30, 2023 Segment revenues (2) $ 719,925 $ 24,333 $ 770 $ 16,457 $ — $ 761,485 Less: Intersegment revenues (2) — (127) (711) (33) — (871) Revenues $ 719,925 $ 24,206 $ 59 $ 16,424 $ — $ 760,614 Segment operating earnings (losses) (3) 7,664 1,558 (866) (269) — 8,087 Depreciation and amortization 2,092 3,006 266 1,572 — 6,936 Property and equipment additions (4) 140 1,416 182 1,271 — 3,009 Three Months Ended September 30, 2022 Segment revenues (2) $ 814,394 $ 29,896 $ 852 $ 8,677 $ — $ 853,819 Less: Intersegment revenues (2) — (66) (852) — — (918) Revenues $ 814,394 $ 29,830 $ — $ 8,677 $ — $ 852,901 Segment operating earnings (losses) (3) 5,070 3,307 (909) 155 — 7,623 Depreciation and amortization 2,008 2,791 269 940 — 6,008 Property and equipment additions (4) 343 722 817 132 — 2,014 Nine Months Ended September 30, 2023 Segment revenues (2) $ 1,913,673 $ 75,439 $ 2,473 $ 48,984 $ — $ 2,040,569 Less: Intersegment revenues (2) — (336) (2,165) (2,526) — (5,027) Revenues $ 1,913,673 $ 75,103 $ 308 $ 46,458 $ — $ 2,035,542 Segment operating earnings (losses) (3) 12,922 3,515 (2,846) 133 — 13,724 Depreciation and amortization 6,335 9,273 804 4,877 — 21,289 Property and equipment additions (4) (5) 809 2,754 1,423 3,819 112 8,917 Nine Months Ended September 30, 2022 Segment revenues (2) $ 2,524,465 $ 86,207 $ 2,912 $ 8,677 $ — $ 2,622,261 Less: Intersegment revenues (2) — (153) (2,912) — — (3,065) Revenues $ 2,524,465 $ 86,054 $ — $ 8,677 $ — $ 2,619,196 Segment operating earnings (losses) (3) 20,301 9,112 (2,607) 155 — 26,961 Depreciation and amortization 5,690 8,671 808 940 — 16,109 Property and equipment additions (4) 4,351 1,416 890 132 8 6,797 _______________ (1) On August 12, 2022, we acquired a transportation logistics and recycling and repurposing business, resulting in a new operating segment. (2) Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed. (3) Our crude oil marketing segment’s operating earnings (losses) included inventory liquidation gains of $4.9 million and inventory valuation losses $5.1 million for the three months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, our crude oil marketing segment’s operating (losses) earnings included inventory liquidation gains of $2.9 million and $2.1 million, respectively. (4) Our segment property and equipment additions do not include assets acquired under finance leases during the three and nine months ended September 30, 2023 and 2022. See Note 15 for further information. (5) Amounts included in property and equipment additions for Other are additions for computer or other office equipment and a company vehicle at our corporate headquarters, which were not attributed or allocated to any of our reporting segments.
Schedule of Reconciliation of Segment Earnings to Earnings Before Income Taxes	Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Segment operating earnings $ 8,087 $ 7,623 $ 13,724 $ 26,961 General and administrative (4,162) (4,630) (10,649) (12,860) Operating earnings 3,925 2,993 3,075 14,101 Interest and other income 119 338 893 665 Interest expense (1,027) (119) (2,525) (369) Earnings before income taxes $ 3,017 $ 3,212 $ 1,443 $ 14,397
Schedule of Identifiable Assets by Industry Segment	Identifiable assets by business segment were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Reporting segment: Crude oil marketing $ 251,449 $ 215,813 Transportation 59,808 60,405 Pipeline and storage 25,123 25,815 Logistics and repurposing 44,264 45,307 Cash and other (1) 29,951 36,819 Total assets $ 410,595 $ 384,159 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Schedule of Activities with Affiliates	Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 KSA and affiliate billings to us $ — $ 1 $ — $ 7 Billings to KSA and affiliates — 5 9 15 Rentals paid to an affiliate of KSA — 136 232 388 Payments to an affiliate of KSA for purchase of vehicles (1) — — 157 78 Rentals paid to affiliates of Scott Bosard 125 — 405 — Crude oil purchases from affiliate (2) 9,362 1,403 13,940 1,403 _______________ (1) Amounts paid to West Point Buick GMC were for the purchase of three and two pickup trucks during the nine months ended September 30, 2023 and 2022, respectively.

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The components of other current liabilities were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Accrual for payroll, benefits and bonuses $ 5,489 $ 6,435 Accrued automobile and workers’ compensation claims 5,989 5,579 Contingent consideration for acquisition (see Note 6) — 2,566 Accrued medical claims 505 1,007 Accrued taxes 620 2,208 Other 1,253 1,419 Total other current liabilities $ 13,856 $ 19,214

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Maturities of Long-Term Debt	The following table presents the scheduled maturities of principal amounts of our debt obligations at September 30, 2023 for the next five years, and in total thereafter (in thousands): Remainder of 2023 $ 625 2024 2,500 2025 2,500 2026 2,500 2027 14,375 Total debt maturities $ 22,500

Derivative Instruments and Fa_2

Derivative Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Reflected in the Consolidated Balance Sheet	The estimated fair value of forward month derivatives instruments reflected in the accompanying unaudited condensed consolidated balance sheets were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities September 30, 2023 Asset derivatives: Fair value forward derivative instruments at gross valuation $ 5 $ — $ — $ — Liability derivatives: Fair value forward derivative instruments at gross valuation — — — — Less counterparty offsets — — — — As reported fair value contracts $ 5 $ — $ — $ — December 31, 2022 Asset derivatives: Fair value forward derivative instruments at gross valuation $ — $ — $ — $ — Liability derivatives: Fair value forward derivative instruments at gross valuation — — 330 — Less counterparty offsets — — — — As reported fair value contracts $ — $ — $ 330 $ —
Schedule of Derivatives Reflected in the Consolidated Statement of Operations	Forward month derivatives instruments reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenues – marketing $ — $ (14) $ — $ (9) Cost and expenses – marketing (36) 1,878 (335) 1,253
Schedule of Fair value Assets and Liabilities	The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total September 30, 2023 Derivatives: Current assets $ — $ 5 $ — $ — $ 5 Current liabilities — — — — — Net value $ — $ 5 $ — $ — $ 5 December 31, 2022 Derivatives: Current assets $ — $ — $ — $ — $ — Current liabilities — (330) — — (330) Net value $ — $ (330) $ — $ — $ (330)

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Arrangement	Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Compensation expense $ 389 $ 254 $ 1,044 $ 712
Schedule of Share-Based Compensation, Activity	The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2023 70,244 $ 31.89 Granted (2) 23,409 $ 57.18 Vested (31,659) $ 31.78 Forfeited (1,831) $ 43.80 Restricted stock unit awards at September 30, 2023 60,163 $ 41.43 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2023 30,687 $ 28.59 Granted (2) 12,061 $ 56.84 Vested (12,707) $ 25.70 Forfeited (680) $ 37.50 Performance share unit awards at September 30, 2023 29,361 $ 41.24 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for interest $ 2,671 $ 369 Cash paid for federal and state income taxes 2,472 1,827 Cash refund for net operating loss (NOL) carryback under CARES Act — 6,907 Non-cash transactions: Change in accounts payable related to property and equipment additions 52 — Property and equipment acquired under finance leases 17,632 4,353 Issuance of shares for acquisition (see Note 6) — 1,364

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Lease, Cost	The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Finance lease cost: Amortization of ROU assets $ 1,983 $ 1,306 $ 5,691 $ 3,775 Interest on lease liabilities 408 84 955 242 Operating lease cost 927 781 2,720 2,130 Short-term lease cost 3,529 3,752 10,668 11,335 Variable lease cost 6 6 18 16 Total lease expense $ 6,853 $ 5,929 $ 20,052 $ 17,498 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 2,739 $ 2,112 Operating cash flows from finance leases (1) 851 238 Financing cash flows from finance leases 4,944 3,491 ROU assets obtained in exchange for new lease liabilities: Finance leases 17,632 4,353 Operating leases 667 2,715 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Nine Months Ended September 30, 2023 2022 Weighted-average remaining lease term (years): Finance leases 3.65 3.33 Operating leases 3.05 3.57 Weighted-average discount rate: Finance leases 5.4% 2.9% Operating leases 4.2% 3.9%
Assets and Liabilities, Lessee	The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): September 30, December 31, 2023 2022 Assets Finance lease ROU assets (1) $ 27,482 $ 15,264 Operating lease ROU assets 6,212 7,720 Liabilities Current Finance lease liabilities 6,863 4,382 Operating lease liabilities 2,769 2,712 Noncurrent Finance lease liabilities 22,292 12,085 Operating lease liabilities 3,446 5,007 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
Lessee, Operating Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at September 30, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 2,151 $ 765 2024 8,071 2,874 2025 8,376 1,146 2026 5,549 952 2027 5,981 602 Thereafter 2,685 236 Total lease payments 32,813 6,575 Less: Interest (3,658) (360) Present value of lease liabilities 29,155 6,215 Less: Current portion of lease obligation (6,863) (2,769) Total long-term lease obligation $ 22,292 $ 3,446 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007
Finance Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at September 30, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 2,151 $ 765 2024 8,071 2,874 2025 8,376 1,146 2026 5,549 952 2027 5,981 602 Thereafter 2,685 236 Total lease payments 32,813 6,575 Less: Interest (3,658) (360) Present value of lease liabilities 29,155 6,215 Less: Current portion of lease obligation (6,863) (2,769) Total long-term lease obligation $ 22,292 $ 3,446 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Expenses and Losses Incurred but Not Reported	Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): September 30, December 31, 2023 2022 Accrued automobile and workers’ compensation claims $ 5,989 $ 5,579 Accrued medical claims 505 1,007

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2023 state segment terminal
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which entity operates | state	48
Number of terminals in which entity operates | terminal	18
Number of operating segments	4
Number of reportable segments	4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 16,313	$ 20,532
Restricted cash	8,575	10,535
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows	24,888	31,067	$ 93,914	$ 107,317
Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	357	892
Captive Insurance Subsidiary
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	8,218	$ 9,643
Initial Capitalization
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Common Stock Outstanding (Details) - shares	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	2,534,685	2,534,685	2,495,484	2,495,484
Vesting of restricted stock unit awards (in shares)	1,584	0	20,291
Shares withheld to cover taxes upon vesting of equity awards (in shares)		0	(8,089)
Issuance of shares in acquisition (in shares)	10,172
Ending balance (in shares)	2,546,441	2,534,685	2,534,685	2,546,441
Common Stock | At the Market Offerings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares sold under at-the-market offering program (in shares)		0	14,680	14,680
Performance Unit Awards
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of performance share unit awards (in shares)		0	12,319

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per share
Net earnings	$ 2,258	$ 827	$ (1,999)	$ 2,190	$ 2,476	$ 6,090	$ 1,086	$ 10,756
Basic weighted average number of shares outstanding (in shares)	2,541			4,387			2,531	4,373
Basic net earnings per share (in dollars per share)	$ 0.89			$ 0.50			$ 0.43	$ 2.46
Diluted earnings per share:
Common shares (in shares)	2,541			4,387			2,531	4,373
Total diluted shares (in shares)	2,570			4,420			2,564	4,406
Diluted net earnings per share (in dollars per share)	$ 0.88			$ 0.50			$ 0.42	$ 2.44
Restricted stock units awards
Diluted earnings per share:
Unit awards (in shares)	15			20			15	21
Performance share unit awards
Diluted earnings per share:
Unit awards (in shares)	14			13			18	12

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Equity at the Market Offering (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Sep. 30, 2023
Class of Stock [Line Items]
Shares sold under at-the-market offering program		$ 549	$ 283
Common Stock
Class of Stock [Line Items]
Shares sold under at-the-market offering program		$ 1	$ 1
Common Stock | At the Market Offerings
Class of Stock [Line Items]
Shares sold under at-the-market offering program				$ 600
Offering cost				$ 27
Shares sold at the market (in shares)	0	14,680		14,680
Shares sold at the market (in dollars per share)				$ 40.74

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Fair Value Measurements (Details)	Sep. 30, 2023 contract
Hedging accounting
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of contracts held	0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Income Taxes and Property and Equipment (Details)	Sep. 30, 2023
Minimum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	39 years

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 760,614	$ 852,901	$ 2,035,542	$ 2,619,196
Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	751,126	841,214	2,001,367	2,585,797
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	9,488	11,687	34,175	33,399
Crude oil marketing
Disaggregation of Revenue [Line Items]
Revenues	719,925	814,394	1,913,673	2,524,465
Crude oil marketing | Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	710,437	802,707	1,879,498	2,491,066
Crude oil marketing | Revenues from contracts with customers | Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	710,010	802,707	1,878,735	2,491,066
Crude oil marketing | Revenues from contracts with customers | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	427	0	763	0
Crude oil marketing | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	9,488	11,687	34,175	33,399
Trans-portation
Disaggregation of Revenue [Line Items]
Revenues	24,206	29,830	75,103	86,054
Trans-portation | Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	24,206	29,830	75,103	86,054
Trans-portation | Revenues from contracts with customers | Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trans-portation | Revenues from contracts with customers | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	24,206	29,830	75,103	86,054
Trans-portation | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Pipeline and storage
Disaggregation of Revenue [Line Items]
Revenues	59	0	308	0
Pipeline and storage | Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	59	0	308	0
Pipeline and storage | Revenues from contracts with customers | Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Pipeline and storage | Revenues from contracts with customers | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	59	0	308	0
Pipeline and storage | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Logistics and repurposing
Disaggregation of Revenue [Line Items]
Revenues	16,424	8,677	46,458	8,677
Logistics and repurposing | Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16,424	8,677	46,458	8,677
Logistics and repurposing | Revenues from contracts with customers | Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	8,545	4,178	25,708	4,178
Logistics and repurposing | Revenues from contracts with customers | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	7,879	4,499	20,750	4,499
Logistics and repurposing | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0	$ 0	$ 0

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue gross-up	$ 257,965	$ 430,244	$ 785,636	$ 1,156,711

Prepayments and Other Current_3

Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance premiums	$ 302	$ 1,220
Rents, licenses and other	2,168	1,898
Total prepayments and other current assets	$ 2,470	$ 3,118

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 241,157		$ 241,157		$ 227,327
Less accumulated depreciation and amortization	(130,115)		(130,115)		(120,902)
Property and equipment, net	111,042		111,042		106,425
Total depreciation and amortization	6,936	$ 6,008	21,289	$ 16,109
Amortization of intangible assets	430	293	1,338	673
Depreciation and amortization, excluding amounts under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	4,523	4,392	14,260	11,644
Amortization of property and equipment under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	$ 1,983	$ 1,323	$ 5,691	$ 3,792
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years		2 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years		39 years
Tractors and trailers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 123,694		$ 123,694		128,223
Tractors and trailers | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Tractors and trailers | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years		6 years
Field equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 24,820		$ 24,820		24,676
Field equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years		2 years
Field equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Finance lease ROU assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 40,023		$ 40,023		25,106
Property and equipment, net	$ 12,500		$ 12,500		9,900
Finance lease ROU assets | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years		3 years
Finance lease ROU assets | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years		6 years
Pipeline and related facilities
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,397		$ 20,397		20,362
Pipeline and related facilities | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years		20 years
Pipeline and related facilities | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years		25 years
Linefill and base gas
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,922		$ 3,922		3,922
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 16,189		$ 16,189		16,163
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years		39 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,964		$ 2,964		2,937
Office equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years		2 years
Office equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,163		$ 4,163		2,309
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,985		$ 4,985		$ 3,629

Acquisitions -Narrative (Detail

Acquisitions -Narrative (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 12, 2022 USD ($) segment shares	Sep. 30, 2023 shares	Jun. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Issuance of shares in acquisition (in shares) | shares		10,172
Property and equipment			$ 200
Change in contingent consideration liability			$ 2,600	$ 2,566	$ 0
Firebird
Business Acquisition [Line Items]
Connection to number of terminals | segment	6
Number of tractors | segment	130
Number of trailers | segment	209
Firebird and Phoenix
Business Acquisition [Line Items]
Fair value of total consideration transferred	$ 39,300
Cash payment for acquisition	$ 35,400
Number of shares (in shares) | shares	45,777
Equity interest issued or issuable, value assigned	$ 1,400
Issuance of shares in acquisition (in shares) | shares	15,259
Contingent consideration	$ 2,600
Firebird and Phoenix | To be Issued
Business Acquisition [Line Items]
Number of shares (in shares) | shares	30,518
Issuance period	3 years

Acquisition - Schedule of Recog

Acquisition - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Aug. 12, 2022
Assets acquired:
Cash and cash equivalents			$ 2,203
Accounts receivable			4,653
Inventory			643
Other current assets			137
Property and equipment			24,809
Intangible assets			7,607
Goodwill	$ 6,673	$ 6,428	6,673
Other assets			458
Total assets acquired			47,183
Liabilities assumed:
Accounts payable and other accrued liabilities			(1,696)
Deferred tax liabilities			(6,207)
Total liabilities assumed			(7,903)
Net assets acquired			$ 39,280

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition, Pro Forma Information (Details) - Firebird and Phoenix - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Revenues	$ 860,771	$ 2,663,447
Net earnings	$ 2,295	$ 12,867
Basic net earnings per common share (in dollars per share)	$ 0.52	$ 2.93
Diluted net earnings per common share (in dollars per share)	$ 0.52	$ 2.91

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance collateral deposits	$ 503	$ 463
State collateral deposits	23	23
Materials and supplies	1,281	1,257
Debt issuance costs	1,343	1,595
Other	325	360
Total other assets	$ 3,475	$ 3,698

Segment Reporting - Schedule of

Segment Reporting - Schedule of Information Concerning Business Activities (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			4
Number of operating segments | segment			4
Segment Reporting Information [Line Items]
Revenues	$ 760,614	$ 852,901	$ 2,035,542	$ 2,619,196
Segment operating earnings (losses)	3,925	2,993	3,075	14,101
Depreciation and amortization	6,936	6,008	21,289	16,109
Property and equipment additions	3,009	2,014	8,917	6,797
Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	719,925	814,394	1,913,673	2,524,465
Inventory liquidation gains (losses)	4,900	(5,100)	2,900	2,100
Trans-portation
Segment Reporting Information [Line Items]
Revenues	24,206	29,830	75,103	86,054
Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	59	0	308	0
Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	16,424	8,677	46,458	8,677
Operating segments
Segment Reporting Information [Line Items]
Revenues	761,485	853,819	2,040,569	2,622,261
Segment operating earnings (losses)	8,087	7,623	13,724	26,961
Operating segments | Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	719,925	814,394	1,913,673	2,524,465
Segment operating earnings (losses)	7,664	5,070	12,922	20,301
Depreciation and amortization	2,092	2,008	6,335	5,690
Property and equipment additions	140	343	809	4,351
Operating segments | Trans-portation
Segment Reporting Information [Line Items]
Revenues	24,333	29,896	75,439	86,207
Segment operating earnings (losses)	1,558	3,307	3,515	9,112
Depreciation and amortization	3,006	2,791	9,273	8,671
Property and equipment additions	1,416	722	2,754	1,416
Operating segments | Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	770	852	2,473	2,912
Segment operating earnings (losses)	(866)	(909)	(2,846)	(2,607)
Depreciation and amortization	266	269	804	808
Property and equipment additions	182	817	1,423	890
Operating segments | Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	16,457	8,677	48,984	8,677
Segment operating earnings (losses)	(269)	155	133	155
Depreciation and amortization	1,572	940	4,877	940
Property and equipment additions	1,271	132	3,819	132
Intersegment
Segment Reporting Information [Line Items]
Revenues	(871)	(918)	(5,027)	(3,065)
Intersegment | Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment | Trans-portation
Segment Reporting Information [Line Items]
Revenues	(127)	(66)	(336)	(153)
Intersegment | Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	(711)	(852)	(2,165)	(2,912)
Intersegment | Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	(33)	0	(2,526)	0
Other
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating earnings (losses)	0	0	0	0
Depreciation and amortization	0	0	0	0
Property and equipment additions	$ 0	$ 0	$ 112	$ 8

Segment Reporting - Schedule _2

Segment Reporting - Schedule of Reconciliation of Segment Earnings to Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating earnings	$ 3,925	$ 2,993	$ 3,075	$ 14,101
General and administrative	(4,162)	(4,630)	(10,649)	(12,860)
Interest and other income	119	338	893	665
Interest expense	(1,027)	(119)	(2,525)	(369)
Earnings before income taxes	3,017	3,212	1,443	14,397
Operating segments
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating earnings	8,087	7,623	13,724	26,961
General and administrative
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating earnings	0	0	0	0
General and administrative	(4,162)	(4,630)	(10,649)	(12,860)
Segment reconciling items
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Interest and other income	119	338	893	665
Interest expense	$ (1,027)	$ (119)	$ (2,525)	$ (369)

Segment Reporting - Schedule _3

Segment Reporting - Schedule of Identifiable Assets by Industry Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reconciliation [Abstract]
Total assets	$ 410,595	$ 384,159
Operating segments | Crude oil marketing
Segment Reconciliation [Abstract]
Total assets	251,449	215,813
Operating segments | Trans-portation
Segment Reconciliation [Abstract]
Total assets	59,808	60,405
Operating segments | Pipeline and storage
Segment Reconciliation [Abstract]
Total assets	25,123	25,815
Operating segments | Logistics and repurposing
Segment Reconciliation [Abstract]
Total assets	44,264	45,307
Cash and other
Segment Reconciliation [Abstract]
Total assets	$ 29,951	$ 36,819

Transactions with Affiliates -

Transactions with Affiliates - Schedule of Activities with Affiliates (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) pickupTruck	Sep. 30, 2022 USD ($) truck
Related Party Transaction [Line Items]
Billings to KSA and affiliates	$ 760,614	$ 852,901	$ 2,035,542	$ 2,619,196
Affiliated Entities
Related Party Transaction [Line Items]
KSA and affiliate billings to us	0	1	0	7
Billings to KSA and affiliates	0	5	9	15
Affiliated Entities | Rentals paid to an affiliate of KSA
Related Party Transaction [Line Items]
Amounts of transaction	0	136	232	388
Affiliated Entities | Payments to an affiliate of KSA for purchase of vehicles
Related Party Transaction [Line Items]
Purchases from affiliated entity	0	0	157	78
Affiliated Entities | Rentals paid to affiliates of Scott Bosard
Related Party Transaction [Line Items]
Amounts of transaction	125	0	405	0
Affiliated Entities | Crude oil purchases from affiliate
Related Party Transaction [Line Items]
Purchases from affiliated entity	$ 9,362	$ 1,403	$ 13,940	$ 1,403
G M C
Related Party Transaction [Line Items]
Number of pickup tracks purchased			3	2

Transactions with Affiliates _2

Transactions with Affiliates - Narrative (Details) - Firebird and Phoenix	Aug. 12, 2022 segment
Related Party Transaction [Line Items]
Number of operating lease aggrement	4
Minimum
Related Party Transaction [Line Items]
Term of contract	2 years
Maximum
Related Party Transaction [Line Items]
Term of contract	5 years

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Accrual for payroll, benefits and bonuses	$ 5,489	$ 6,435
Accrued automobile and workers’ compensation claims	5,989	5,579
Contingent consideration for acquisition (see Note 6)	0	2,566
Accrued medical claims	505	1,007
Accrued taxes	620	2,208
Other	1,253	1,419
Total other current liabilities	$ 13,856	$ 19,214

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)	Aug. 02, 2023	Dec. 31, 2022	Oct. 27, 2022 USD ($)
Line of Credit Facility [Line Items]
Percentage of unusual and non recurring losses and expenses on Consolidated EBITDA		0.10
Long-term debt	$ 22,500,000
Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount				$ 25,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Leverage ratio			2.50
Asset coverage ratio			2
Coverage ratio			1.25
Letters of credit outstanding	20,400,000
Borrowings outstanding	$ 0
Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage	2.25%
Line of Credit | Secured Debt
Line of Credit Facility [Line Items]
Long-term debt	$ 22,500,000
Weighted average interest rate	7.66%
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing amount				$ 60,000,000

Long-Term Debt - Schedule of Ma

Long-Term Debt - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2023	$ 625
2024	2,500
2025	2,500
2026	2,500
2027	14,375
Long-term debt	$ 22,500

Derivative Instruments and Fa_3

Derivative Instruments and Fair Value Measurements - Narrative (Details) - Commodity Contract gallonsOfDieselPerDay in Thousands, barrel_of_oil_per_day in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 gallonsOfDieselPerDay contract	Dec. 31, 2022 barrel_of_oil_per_day gallonsOfDieselPerDay contract
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held	1	1
Production | gallonsOfDieselPerDay	126	126
Purchased and Sold in January 2023
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held		3
Production | barrel_of_oil_per_day		300

Derivative Instruments and Fa_4

Derivative Instruments and Fair Value Measurements - Schedule of Derivatives Reflected in the Consolidated Balance Sheet (Details) - Commodity Contract - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 5	$ 0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	5	0
Other Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	0	0
Current Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	330
Less counterparty offsets	0	0
As reported fair value contracts	0	330
Other Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	$ 0	$ 0

Derivative Instruments and Fa_5

Derivative Instruments and Fair Value Measurements - Schedule of Derivatives Reflected in the Consolidated Statement of Operations (Details) - Not Designated as Hedging Instrument - Commodity Contract - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues – marketing
Derivative [Line Items]
Gain (loss) on derivative	$ 0	$ (14)	$ 0	$ (9)
Cost and expenses – marketing
Derivative [Line Items]
Gain (loss) on derivative	$ (36)	$ 1,878	$ (335)	$ 1,253

Derivative Instruments and Fa_6

Derivative Instruments and Fair Value Measurements - Schedule of Fair value Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivatives:
Current assets	$ 5	$ 0
Current assets, counterparty offsets	0	0
Current liabilities	0	(330)
Current liabilities, counterparty offsets	0	0
Net value	5	(330)
Net value, counterparty offsets	0	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	0	0
Significant Other Observable Inputs (Level 2)
Derivatives:
Current assets	5	0
Current liabilities	0	(330)
Net value	5	(330)
Significant Unobservable Inputs (Level 3)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	$ 0	$ 0

Stock-Based Compensation Plan -

Stock-Based Compensation Plan - Narrative (Details) - The 2018 LTIP - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	150,000
Number of shares authorized (in shares)	300,000	125,192
Accrued dividends		$ 128,300	$ 140,300
Restricted stock units awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 900,000
Period for recognition for remaining compensation cost		1 year 6 months
Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 700,000
Period for recognition for remaining compensation cost		2 years 1 month 6 days

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan - Share-Based Payment Arrangement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Text Block [Abstract]
Compensation expense	$ 389	$ 254	$ 1,044	$ 712

Stock-Based Compensation Plan_3

Stock-Based Compensation Plan - Schedule of Share-Based Compensation Activity, Payment Arrangement (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Restricted stock units awards
Number of Shares
Unit awards, beginning balance (in shares) | shares	70,244
Vested (in shares) | shares	(31,659)
Forfeited (in shares) | shares	(1,831)
Unit awards, ending balance (in shares) | shares	60,163
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 31.89
Vested (in dollars per share)	31.78
Forfeited (in dollars per share)	43.80
Unit awards, ending balance (in dollars per share)	$ 41.43
The 2018 LTIP | Restricted stock units awards
Number of Shares
Granted (in shares) | shares	23,409
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 57.18
Aggregate grant date fair value awards issues | $	$ 1.3
The 2018 LTIP | Restricted stock units awards | Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 37.56
The 2018 LTIP | Restricted stock units awards | Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 58.05
The 2018 LTIP | Performance share unit awards
Number of Shares
Unit awards, beginning balance (in shares) | shares	30,687
Granted (in shares) | shares	12,061
Vested (in shares) | shares	(12,707)
Forfeited (in shares) | shares	(680)
Unit awards, ending balance (in shares) | shares	29,361
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 28.59
Granted (in dollars per share)	56.84
Vested (in dollars per share)	25.70
Forfeited (in dollars per share)	37.50
Unit awards, ending balance (in dollars per share)	$ 41.24
Aggregate grant date fair value awards issues | $	$ 0.7
Performance factor	100,000%
The 2018 LTIP | Performance share unit awards | Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 38.42
The 2018 LTIP | Performance share unit awards | Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 58.05

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest		$ 2,671	$ 369
Cash paid for federal and state income taxes		2,472	1,827
Cash refund for net operating loss (NOL) carryback under CARES Act		0	6,907
Non-cash transactions:
Change in accounts payable related to property and equipment additions		52	0
Property and equipment acquired under finance leases		17,632	4,353
Issuance of shares for acquisition (see Note 6)	$ 425	$ 0	$ 1,364

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Amortization of ROU assets	$ 1,983	$ 1,306	$ 5,691	$ 3,775
Interest on lease liabilities	408	84	955	242
Operating lease cost	927	781	2,720	2,130
Short-term lease cost	3,529	3,752	10,668	11,335
Variable lease cost	6	6	18	16
Total lease expense	$ 6,853	$ 5,929	$ 20,052	$ 17,498

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,739	$ 2,112
Operating cash flows from finance leases	851	238
Financing cash flows from finance leases	4,944	3,491
ROU assets obtained in exchange for new lease liabilities:
ROU assets obtained in exchange for new lease liabilities, Finance leases	17,632	4,353
ROU assets obtained in exchange for new lease liabilities, Operating leases	$ 667	$ 2,715

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rates (Details)	Sep. 30, 2023	Sep. 30, 2022
Weighted-average remaining lease term (years):
Finance leases	3 years 7 months 24 days	3 years 3 months 29 days
Operating leases	3 years 18 days	3 years 6 months 25 days
Weighted-average discount rate:
Finance leases	5.40%	2.90%
Operating leases	4.20%	3.90%

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Finance lease ROU assets	$ 27,482	$ 15,264
Operating lease ROU assets	6,212	7,720
Finance lease liabilities	6,863	4,382
Operating lease liabilities	2,769	2,712
Finance lease liabilities	22,292	12,085
Operating lease liabilities	$ 3,446	$ 5,007

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Undiscounted Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finance Lease Liabilities, Payments
Remainder of 2023	$ 2,151
Finance lease, year one	8,071	$ 4,870
Finance lease, year two	8,376	3,629
Finance lease, year three	5,549	4,652
Finance lease, year four	5,981	2,482
Finance lease, year five		2,179
Thereafter	2,685
Thereafter		0
Total lease payments	32,813	17,812
Less: Interest	(3,658)	(1,345)
Present value of lease liabilities	29,155	16,467
Less: Current portion of lease obligation	(6,863)	(4,382)
Total long-term lease obligation	22,292	12,085
Operating Lease Liabilities, Payments Due
Remainder of 2023	765
Operating lease, year one	2,874	2,958
Operating lease, year two	1,146	2,617
Operating lease, year three	952	962
Operating lease, year four	602	879
Operating lease, year five		570
Thereafter	236
Thereafter		237
Total lease payments	6,575	8,223
Less: Interest	(360)	(504)
Present value of lease liabilities	6,215	7,719
Less: Current portion of lease obligation	(2,769)	(2,712)
Total long-term lease obligation	$ 3,446	$ 5,007

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Self-insured retention	$ 1
Umbrellas insurance coverage	1.3
Aggregate medical claims for umbrella insurance coverage per calendar year	$ 11.3

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Expenses and Losses Incurred but Not Reported (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Accrued automobile and workers’ compensation claims	$ 5,989	$ 5,579
Accrued medical claims	$ 505	$ 1,007