Trecora Resources (TREC) 10-K 11 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 07, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	TRECORA RESOURCES
Entity Central Index Key	7,039
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 235
Entity Common Stock, Shares Outstanding		24,202,346
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 18,623	$ 8,506
Trade receivables, net (Note 6)	19,474	28,271
Prepaid expenses and other assets	2,664	3,257
Inventories (Note 7)	15,804	12,815
Deferred income taxes (Note 17)	2,116	1,652
Taxes receivable	7,672	434
Total current assets	66,353	54,935
PLANT, PIPELINE, AND EQUIPMENT - AT COST	143,471	113,130
LESS ACCUMULATED DEPRECIATION	(46,564)	(39,319)
PLANT, PIPELINE, AND EQUIPMENT, NET (Note 8)	96,907	73,811
GOODWILL (Notes 3 and 9)	21,798	21,750
OTHER INTANGIBLE ASSETS, net (Notes 3 and 9)	24,549	26,235
INVESTMENT IN AMAK (Note 10)	47,697	53,023
MINERAL PROPERTIES IN THE UNITED STATES (Note 11)	588	588
OTHER ASSETS	919	1,732
TOTAL ASSETS	258,811	232,074
CURRENT LIABILITIES
Accounts payable	8,090	9,535
Current portion of derivative instruments (Notes 5 and 22)	118	362
Accrued liabilities (Note 13)	4,062	5,020
Accrued liabilities in Saudi Arabia (Note 14)	0	495
Current portion of post-retirement benefit (Note 23)	294	286
Current portion of long-term debt (Note 12)	8,333	7,000
Current portion of other liabilities	2,050	2,183
Total current liabilities	22,947	24,881
LONG-TERM DEBT, net of current portion (Note 12)	73,917	73,450
POST- RETIREMENT BENEFIT, net of current portion (Note 23)	649	649
DERIVATIVE INSTRUMENTS, net of current portion (Notes 5 and 22)	59	196
OTHER LIABILITIES, net of current portion	2,351	1,039
DEFERRED INCOME TAXES (Note 17)	16,503	10,471
Total liabilities	$ 116,426	$ 110,686
COMMITMENTS AND CONTINGENCIES (Note 15)
EQUITY
Common Stock - authorized 40 million shares of $.10 par value; issued and outstanding, 24.2 million and 24.0 million shares in 2015 and 2014, respectively	$ 2,416	$ 2,397
Additional Paid-in Capital	50,662	48,282
Retained Earnings	89,018	70,420
Total Trecora Resources Stockholders' Equity	142,096	121,099
Noncontrolling interest	289	289
Total equity	142,385	121,388
TOTAL LIABILITIES AND EQUITY	$ 258,811	$ 232,074

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Dec. 31, 2015	Dec. 31, 2014
EQUITY
Common Stock, authorized (in shares)	40	40
Common Stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common Stock, issued (in shares)	24.2	24
Common Stock, outstanding (in shares)	24.2	24

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Petrochemical and product sales	$ 227,937	$ 280,866	$ 230,643
Processing	14,039	8,777	5,584
Total Revenues	241,976	289,643	236,227
Operating costs and expenses
Cost of petrochemical, product sales, and Processing (including depreciation and amortization of $8,335, $5,116, and $3,518, respectively)	182,607	243,900	201,064
Gross Profit	59,369	45,743	35,163
General and Administrative Expenses
General and administrative	22,603	19,701	14,672
Depreciation	725	560	521
Total General and Administrative Expenses	23,328	20,261	15,193
Operating income	36,041	25,482	19,970
Other income (expense)
Interest expense	(2,217)	(1,042)	(520)
Losses on cash flow hedge reclassified from OCI	0	(378)	(301)
Equity in earnings (loss) of AMAK (Note 10)	(5,325)	(1,072)	4,703
Gain from additional equity issuance by AMAK (Note 10)	0	0	3,997
Miscellaneous expense	(137)	(272)	(204)
Total other income (expenses)	(7,679)	(2,764)	7,675
Income before income tax expense	28,362	22,718	27,645
Income tax expense	9,764	7,147	8,147
Net income	18,598	15,571	19,498
Net loss attributable to Noncontrolling Interest	0	0	0
Net income attributable to Trecora Resources	$ 18,598	$ 15,571	$ 19,498
Net income per common share
Basic earnings per share (in dollars per share)	$ 0.76	$ 0.64	$ 0.81
Diluted earnings per share (in dollars per share)	$ 0.74	$ 0.63	$ 0.79
Weighted average number of common shares outstanding
Basic (in shares)	24,370	24,188	24,115
Diluted (in shares)	25,181	24,896	24,745

CONSOLIDATED STATEMENTS OF INC5

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OPERATING COSTS AND EXPENSES
Depreciation and amortization included in the cost of sales and processing	$ 8,335	$ 5,116	$ 3,518

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET INCOME	$ 18,598	$ 15,571	$ 19,498
OTHER COMPREHENSIVE INCOME, NET OF TAX
Unrealized holding gains arising during period	0	744	515
Less: reclassification adjustment included in net income	0	378	301
OTHER COMPREHENSIVE INCOME, NET OF TAX (Note 22)	0	366	214
COMPREHENSIVE INCOME	$ 18,598	$ 15,937	$ 19,712

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total [Member]	Non-Controlling Interest [Member]	Total
Balance at Dec. 31, 2012	$ 2,381	$ 44,791	$ (580)	$ 35,351	$ 81,943	$ 289	$ 82,232
Balance (in shares) at Dec. 31, 2012	23,805
Stock options
Issued to Directors	$ 0	377	0	0	377	0	377
Issued to Employees	0	559	0	0	559	0	559
Issued to Former Director	0	97	0	0	97	0	97
Warrants	0	181	0	0	181	0	181
Common Stock
Issued to Directors	$ 1	6	0	0	7	0	7
Issued to Directors (in shares)	12
Issued to Employees	$ 1	53	0	0	54	0	54
Issued to Employees (in shares)	15
Other Comprehensive Income	$ 0	0	214	0	214	0	214
Net Income	0	0	0	19,498	19,498	0	19,498
Balance at Dec. 31, 2013	$ 2,383	46,064	(366)	54,849	102,930	289	103,219
Balance (in shares) at Dec. 31, 2013	23,832
Stock options
Issued to Directors	$ 0	330	0	0	330	0	330
Issued to Employees	0	1,555	0	0	1,555	0	1,555
Issued to Former Director	0	97	0	0	97	0	97
Warrants	0	79	0	0	79	0	79
Common Stock
Issued to Directors	$ 9	(8)	0	0	1	0	1
Issued to Directors (in shares)	88
Issued to Employees	$ 5	165	0	0	170	0	170
Issued to Employees (in shares)	55
Other Comprehensive Income	$ 0	0	366	0	366	0	366
Net Income	0	0	0	15,571	15,571	0	15,571
Balance at Dec. 31, 2014	$ 2,397	48,282	0	70,420	121,099	289	$ 121,388
Balance (in shares) at Dec. 31, 2014	23,975						24,000
Stock options
Issued to Directors	$ 0	274	0	0	274	0	$ 274
Issued to Employees	0	1,274	0	0	1,274	0	1,274
Issued to Former Director	0	97	0	0	97	0	97
Restricted Common Stock
Issued to Employees	$ 0	587	0	0	587	0	587
Issued to Employees (in shares)	14
Issued to Directors	$ 0	43	0	0	43	0	43
Warrants	$ 1	(1)	0	0	0	0	0
Warrants (in shares)	5
Common Stock
Issued to Directors	$ 10	(10)	0	0	0	0	0
Issued to Directors (in shares)	100
Issued to Employees	$ 8	116	0	0	124	0	124
Issued to Employees (in shares)	64
Other Comprehensive Income							0
Net Income	$ 0	0	0	18,598	18,598	0	18,598
Balance at Dec. 31, 2015	$ 2,416	$ 50,662	$ 0	$ 89,018	$ 142,096	$ 289	$ 142,385
Balance (in shares) at Dec. 31, 2015	24,158						24,200

CONSOLIDATED STATEMENT OF STOC8

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2013USD ($)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Other comprehensive income, net of income tax expense	$ (115)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income attributable to Trecora Resources	$ 18,598	$ 15,571	$ 19,498
Adjustments to reconcile net income of Trecora Resources to Net cash provided by operating activities:
Depreciation	7,177	5,205	4,039
Amortization of intangible assets	1,883	471	0
Unrealized (gain) loss on derivative instruments	(381)	376	57
Share-based compensation	2,353	2,141	1,215
Deferred income taxes	5,567	(1,903)	1,495
Postretirement obligation	7	8	5
Equity in (income) loss of AMAK	5,325	1,072	(4,703)
Gain from additional equity issuance by AMAK	0	0	(3,997)
Changes in operating assets and liabilities:
(Increase) decrease in trade receivables	8,797	(3,380)	(6,267)
(Increase) decrease in tax receivable	(7,238)	137	611
(Increase) decrease in inventories	(2,989)	2,587	(2,223)
(Increase) decrease in prepaid expenses and other assets	935	(337)	(90)
(Increase) decrease in other assets	274	(1,024)	(871)
Increase in other liabilities	2,151	90	3,048
Increase (decrease) in accounts payable and accrued liabilities	(2,399)	1,836	1,421
Increase (decrease) in accrued liabilities in Saudi Arabia	(495)	355	4
Net cash provided by operating activities	39,565	23,205	13,242
Investing activities
Additions to plant, pipeline and equipment	(31,247)	(14,766)	(6,828)
Acquisition of TC, Inc., net of cash of $107 purchased in 2014	(47)	(74,712)	0
Advances to AMAK, net	0	536	1,626
Addition to Investment in AMAK	0	0	(7,500)
Net cash used in investing activities	(31,294)	(88,942)	(12,702)
Financing Activities
Issuance of common stock	46	91	60
Additions to long-term debt	15,000	87,200	6,000
Repayment of long-term debt	(13,200)	(20,656)	(8,500)
Net cash provided by (used) in financing activities	1,846	66,635	(2,440)
Net increase (decrease) in cash and cash equivalents	10,117	898	(1,900)
Cash and cash equivalents at beginning of year	8,506	7,608	9,508
Cash and cash equivalents at end of year	18,623	8,506	7,608
Supplemental disclosure of cash flow information:
Cash payments for interest	2,103	995	802
Cash payments (net of refunds) for taxes	11,428	8,959	6,006
Supplemental disclosure of non-cash items:
Other liabilities for capital expansion amortized to depreciation expense	972	1,649	1,284
Unrealized gain on interest rate swap, net of tax expense	$ 0	$ 366	$ 214

CONSOLIDATED STATEMENTS OF CA10

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Investing activities
Acquisition of Trecora Chemical, Inc. cash acquired	$ 107

BUSINESS AND OPERATIONS OF THE

BUSINESS AND OPERATIONS OF THE COMPANY	12 Months Ended
	Dec. 31, 2015
BUSINESS AND OPERATIONS OF THE COMPANY [Abstract]
BUSINESS AND OPERATIONS OF THE COMPANY	NOTE 1 - BUSINESS AND OPERATIONS OF THE COMPANY Trecora Resources, formerly Arabian American Development Company, (the "Company") was organized as a Delaware corporation in 1967. The Company's principal business activities are the manufacturing of various specialty petrochemical products, specialty waxes and providing custom processing services. The Company owns 35% of a Saudi Arabian joint stock company, Al Masane Al Kobra Mining Company ("AMAK") (see Note 10) and approximately 55% of the capital stock of a Nevada mining company, Pioche Ely Valley Mines, Inc. ("PEVM"), which does not conduct any substantial business activity but owns undeveloped properties in the United States. The Company's petrochemical operations are primarily conducted through a wholly-owned subsidiary, Texas Oil and Chemical Co. II, Inc. ("TOCCO"). TOCCO owns all of the capital stock of South Hampton Resources Inc. ("SHR") and Trecora Chemical, Inc. ("TC"). SHR owns all of the capital stock of Gulf State Pipe Line Company, Inc. ("GSPL"). SHR owns and operates a specialty petrochemical product facility near Silsbee, Texas which manufactures high purity hydrocarbons used primarily in polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, Canadian tar sands, and in the catalyst support industry. TC owns and operates a facility located in Pasadena, Texas which manufactures specialty waxes and provides custom processing services. These specialty waxes are used in the production of coatings, hot melt adhesives and lubricants. GSPL owns and operates pipelines that connect the SHR facility to a natural gas line, to SHR's truck and rail loading terminal and to a major petroleum pipeline owned by an unaffiliated third party. We attribute revenues to countries based upon the origination of the transaction. All of our revenues for the years ended December 31, 2015, 2014, and 2013, originated in the United States. In addition, all of our long-lived assets are in the United States. For convenience in this report, the terms "Company", "our", "us" or "we" may be used to refer to Trecora Resources and its subsidiaries.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Cash, Cash Equivalents and Short-Term Investments Inventories Accounts Receivable and Allowance for Doubtful Accounts Notes Receivable Mineral Exploration and Development Costs Plant, Pipeline and Equipment Interest costs incurred to finance expenditures during construction phase are capitalized as part of the historical cost of constructing the assets. Construction commences with the development of the design and ends when the assets are ready for use. Capitalized interest costs are included in plant, pipeline and equipment and are depreciated over the service life of the related assets. Platinum catalyst is included in plant, pipeline and equipment at cost. Amortization of the catalyst is based upon cost less estimated salvage value of the catalyst using the straight line method over the estimated useful life (see Note 8). Goodwill and Other Intangible Assets Definite-lived intangible assets consist of customer relationships, licenses, permits and developed technology that were acquired as part of the Acquisition. The majority of these assets are being amortized using discounted estimated future cash flows over the term of the related agreements. Intangible assets associated with customer relationships are being amortized using the discounted estimated future cash flows method based upon assumed rates of annual customer attrition. We continually evaluate the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they will be removed from the consolidated balance sheets. Business Combinations and Related Business Acquisition Costs Business acquisition costs are expensed as incurred and are reported as general and administrative expenses in the consolidated statements of income. We define these costs to include finder's fees, advisory, legal, accounting, valuation, and other professional consulting fees, as well as, travel associated with the evaluation and effort to acquire specific businesses. Investment in AMAK We assess our investment in AMAK for impairment when events are identified, or there are changes in circumstances that may have an adverse effect on the fair value of the investment. We consider recoverable ore reserves and the amount and timing of the cash flows to be generated by the production of those reserves, as well as, recent equity transactions within AMAK. Other Assets Long-Lived Assets Impairment The amount of the impairment loss to be recorded is calculated by the excess of the asset's carrying value over its fair value. Fair value is generally determined using a discounted cash flow analysis although other factors including the state of the economy are considered. Revenue Recognition – Revenues received in advance of future sales of products or prior to the performance of services are presented as deferred revenues. Shipping and Handling Costs - Retirement Plan Environmental Liabilities Other Liabilities Net Income Per Share Foreign Currency Management Estimates Share-Based Compensation Guarantees – a) We have a non-contingent and immediate obligation to stand ready to make payments if certain future triggering events occur. For certain guarantees, a liability is recognized for the stand ready obligation at the inception of the guarantee; and b) We have an obligation to make future payments if those certain future triggering events do occur. A liability for the payment under the guarantee is recognized when 1) it becomes probable that one or more future events will occur, triggering the requirement to make payments under the guarantee and 2) when the payment can be reasonably estimated. Derivatives Income Taxes bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded if there is uncertainty as to the realization of deferred tax assets. Our estimate of the potential outcome of any uncertain tax issues is subject to management's assessment of relevant risks, facts, and circumstances existing at that time. We use a more likely than not threshold for financial statement recognition and measurement of tax position taken or expected to be taken in a tax return. To the extent that our assessment of such tax position changes, the change in estimate is recorded in the period in which the determination is made. We report tax-related interest and penalties as a component of income tax expense. We recognized no material adjustment in the liability for unrecognized income tax benefits. As of December 31, 2015, and 2014, no interest or penalties related to uncertain tax positions had been accrued. New Accounting Pronouncements In May 2014 the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers Revenue Recognition Revenue from Contracts with Customers In June 2014 the FASB issued ASU No. 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In April 2015 the FASB issued ASU No. 2015-03 , Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting In November 2015 the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In February 2016 the FASB issued ASU No. 2016-02, Leases (Topic 842) . The new standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This standard affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this Update supersedes FASB ASC 840, Leases . The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the impact of adopting this ASU on its consolidated financial statements and related disclosures.

ACQUISITION OF TRECORA CHEMICAL

ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.)	12 Months Ended
	Dec. 31, 2015
ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.) [Abstract]
ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.)	NOTE 3 – ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.) On October 1, 2014, we acquired 100% of the Class A common stock of SSI Chusei, Inc. ("SSI"), a Texas corporation in exchange for a cash payment of $74.8 million which was funded by (i) $4,702,000 from TREC's existing cash balances and (ii) $70,000,000 from the proceeds of a senior secured financing. On November 15, 2014, SSI's name was officially changed to Trecora Chemical, Inc. TC is a leading manufacturer of specialty synthetic waxes and custom processing services located in Pasadena, Texas. We believe the Acquisition increases our product diversification, expands our footprint in the industry, and provides geographic diversity. TC makes up the specialty synthetic wax segment of our business. We have accounted for the Acquisition in accordance with the acquisition method of accounting under Financial Accounting Standards Board Accounting Standards Codification Topic 805 "Business Combinations" ("ASC 805"). In accordance with ASC 805, we used our best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the Acquisition Date. Goodwill as of the Acquisition Date was measured as the excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired. The assets and certain liabilities acquired from TC on October 1, 2014, have been included in our consolidated balance sheets and our consolidated statements of income since the date of acquisition. The sales and operating loss of TC that are included in the consolidated statements of income for the year ended December 31, 2014, was $5.3 million and $1.1 million, respectively. In connection with the Acquisition, we incurred acquisition costs of $1.0 million which are reflected in general and administrative expenses in the consolidated statements of income. The financial results of TC's business are reported as a separate business segment. The following table summarizes the consideration paid for TC (in thousands): Cash paid at closing $ 2,902 Cash paid for working capital adjustment 1,916 Debt 70,000 Total purchase consideration $ 74,818 We recorded $21.8 million of Goodwill as a result of the Acquisition, all of which was recorded within TC's operating segment. Goodwill recognized in the Acquisition relates primarily to enhancing our strategic platform for expansion into other specialty products such as specialty waxes and custom processing services. All of the Goodwill recognized is expected to be deductible for income tax purposes. The allocation of the aggregate purchase price is as follows (in thousands): Purchase Price $ 74,818 Cash $ 107 Trade receivables 2,821 Inventories 3,339 Prepaid expenses and other assets 743 Plant, pipeline and equipment 23,973 Other intangible assets 26,706 Accounts payable (1,074 ) Accrued liabilities (1,121 ) Other liabilities (1,759 ) Long-term debt, net of current portion (667 ) 53,068 Goodwill $ 21,750 The components of the other intangible assets listed in the table above, based upon a third party appraisal, were as follows (in thousands): Identifiable Intangible Asset Value Life (years) Customer Relationships $ 16,852 15 Non-compete Agreements 94 5 Licenses and Permits 1,471 various Trade Name 2,158 indefinite Developed Technology 6,131 10 Total $ 26,706 Weighted average amortization period 12.5 The following unaudited pro forma financial information reflects the consolidated results of operation of the Company as if the Acquisition had taken place on January 1, 2013 (in thousands): Years Ended December 31, 2014 2013 Sales $ 308,966 $ 259,348 Net Income $ 16,623 $ 20,223 Our historical financial information was adjusted to give effect to the pro forma events that were directly attributable to the Acquisition. This unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of results of operations that would have been achieved had the pro forma events taken place on the dates indicated or the future consolidated results of operations of the combined Company. For the year ended December 31, 2014, the unaudited pro forma financial information reflects adjustments to depreciation expense resulting from the adjustment to fair value of TC's plant and equipment, amortization expense on other intangible assets, non-recurring acquisition costs, salary costs in connection with employment contracts with certain officers, interest expense on the secured financing, and estimated tax effect on the incremental change. For the year ended December 31, 2013, the unaudited pro forma financial information reflects adjustments to depreciation expense resulting from the adjustment to fair value of TC's plant and equipment, amortization expense on other intangible assets, salary costs in connection with employment contracts with certain officers, interest expense on the secured financing, and estimated tax effect on the incremental change.

CONCENTRATIONS OF REVENUES AND

CONCENTRATIONS OF REVENUES AND CREDIT RISK	12 Months Ended
	Dec. 31, 2015
CONCENTRATIONS OF REVENUES AND CREDIT RISK [Abstract]
CONCENTRATIONS OF REVENUES AND CREDIT RISK	NOTE 4 - CONCENTRATIONS OF REVENUES AND CREDIT RISK We sell our products and services to companies in the chemical, plastics, and petroleum industries. We perform periodic credit evaluations of our customers and generally do not require collateral from our customers. For the year ended December 31, 2015, one customer accounted for 20.1% of total revenue. For the year ended December 31, 2014, two customers accounted for 23.2% and 10.5% of total revenue. For the year ended December 31, 2013, two customers accounted for 16.5% and 16.2% of total product sales. The associated accounts receivable balances for those customers were approximately $7.6 million at December 31, 2015, and $9.5 million and $1.6 million as of December 31, 2014. The carrying amount of accounts receivable approximates fair value at December 31, 2015. Accounts receivable serves as collateral for our amended and restated loan agreement (see Note 12). We market our products in many foreign jurisdictions. For the years ended December 31, 2015, 2014 and 2013, petrochemical product sales revenue in foreign jurisdictions accounted for approximately 27.9%, 30.5%, and 26.2%, respectively. SHR utilizes one major supplier for its feedstock supply. The feedstock is a commodity product commonly available from other suppliers if needed. The percentage of feedstock purchased from the supplier during 2015, 2014, and 2013 was 100%, 100% and 99%, respectively. At December 31, 2015, and 2014, we owed the supplier approximately $2.5 million and $1.0 million, respectively for feedstock purchases. We hold our cash with various financial institutions that are insured by the Federal Deposit Insurance Corporation up to $250,000. At times during the year, cash balances may exceed this limit. We have not experienced any losses in such accounts and do not believe we are exposed to any significant risk of loss related to cash.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2015
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 5 – FAIR VALUE MEASUREMENTS The carrying value of cash and cash equivalents, trade receivables, taxes receivable, accounts payable, accrued liabilities, accrued liabilities in Saudi Arabia and other liabilities approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair value of variable rate long term debt and notes payable reflect recent market transactions and approximate carrying value. We used other observable inputs that would qualify as Level 2 inputs to make our assessment of the approximate fair value of our cash and cash equivalents, trade receivables, taxes receivable, accounts payable, accrued liabilities, accrued liabilities in Saudi Arabia, other liabilities and variable rate long term debt. The fair value of the derivative instruments are described below. We measure fair value by ASC Topic 820 Fair Value. ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC Topic 820 applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard amends numerous accounting pronouncements but does not require any new fair value measurements of reported balances. ASC Topic 820 emphasizes that fair value, among other things, is based on exit price versus entry price, should include assumptions about risk such as nonperformance risk in liability fair values, and is a market-based measurement, not an entity-specific measurement. When considering the assumptions that market participants would use in pricing the asset or liability, ASC Topic 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The fair value hierarchy prioritizes inputs used to measure fair value into three broad levels. Level 1 inputs Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs Level 3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Commodity Financial Instruments We periodically enter into financial instruments to hedge the cost of natural gasoline (the primary feedstock) and natural gas (used as fuel to operate the plants). We use financial swaps on feedstock and options on natural gas to limit the effect of significant fluctuations in price on operating results. We assess the fair value of the financial swaps on feedstock using quoted prices in active markets for identical assets or liabilities (Level 1 of fair value hierarchy). At December 31, 2015, we had no derivative contracts outstanding. At December 31, 2014, we had derivative contracts with settlement dates through January 2015. For additional information see Note 22. Interest Rate Swaps In March 2008 we entered into an interest rate swap agreement with Bank of America related to the $10.0 million term loan secured by plant, pipeline and equipment. The interest rate swap was designed to minimize the effect of changes in the LIBOR rate. We had designated the interest rate swap as a cash flow hedge under ASC Topic 815 (see Note 22); however, due to the new debt agreements associated with the Acquisition, we believe that the hedge is no longer entirely effective. Due to the time required to make the determination and the immateriality of the hedge, we began treating the interest rate swap as ineffective as of October 1, 2014, and the unrealized loss associated with the swap of approximately $378,000 was recognized in the Statement of Income for the year ended December 31, 2014. We assess the fair value of the interest rate swap using a present value model that includes quoted LIBOR rates and the nonperformance risk of the Company and Bank of America based on the Credit Default Swap Market (Level 2 of fair value hierarchy). The following items are measured at fair value on a recurring basis at December 31, 2015 and 2014: Fair Value Measurements Using December 31, 2015 Total Level 1 Level 2 Level 3 (thousands of dollars) Liabilities: Interest rate swap $ 177 $ - $ 177 $ - Fair Value Measurements Using December 31, 2014 Total Level 1 Level 2 Level 3 (thousands of dollars) Liabilities: Interest rate swap $ 378 $ - $ 378 $ - Commodity financial instruments 180 180 We have consistently applied valuation techniques in all periods presented and believe we have obtained the most accurate information available for the types of derivative contracts we hold.

TRADE RECEIVABLES

TRADE RECEIVABLES	12 Months Ended
	Dec. 31, 2015
TRADE RECEIVABLES [Abstract]
TRADE RECEIVABLES	NOTE 6 – TRADE RECEIVABLES Trade receivables, net, at December 31, 2015, and 2014, respectively, consisted of the following: 2015 2014 (thousands of dollars) Trade receivables $ 19,684 $ 28,481 Less allowance for doubtful accounts (210 ) (210 ) Trade receivables, net $ 19,474 $ 28,271 Trade receivables serves as collateral for our amended and restated loan agreement with a domestic bank (see Note 12).

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2015
INVENTORIES [Abstract]
INVENTORIES	NOTE 7 – INVENTORIES Inventories include the following at December 31: 2015 2014 (thousands of dollars) Raw material $ 2,905 $ 2,826 Work in process 56 49 Finished products 12,843 9,940 Total inventory $ 15,804 $ 12,815 Inventory serves as collateral for our amended and restated loan agreement with a domestic bank (see Note 12). The difference between the calculated value of inventory under the FIFO and LIFO bases generates either a recorded LIFO reserve (i.e., where FIFO value exceeds the LIFO value) or an unrecorded negative LIFO reserve (i.e., where the LIFO value exceeds the FIFO value). In the latter case, in order to ensure that inventory is reported at the lower of cost or market and in accordance with ASC 330-10, we do not increase the stated value of our inventory to the LIFO value. At December 31, 2015 and 2014, the LIFO value of inventory exceeded FIFO; therefore, in accordance with the above policy, no LIFO reserve was recorded. Inventory included products in transit valued at approximately $2.7 million and $3.5 million at December 31, 2015, and 2014, respectively.

PLANT, PIPELINE AND EQUIPMENT

PLANT, PIPELINE AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
PLANT, PIPELINE AND EQUIPMENT [Abstract]
PLANT, PIPELINE AND EQUIPMENT	NOTE 8 – PLANT, PIPELINE AND EQUIPMENT Plant, pipeline and equipment include the following at December 31: 2015 2014 (thousands of dollars) Platinum catalyst $ 1,612 $ 1,612 Land 4,577 4,577 Plant, pipeline and equipment 128,302 95,351 Construction in progress 8,980 11,590 Total plant, pipeline and equipment 143,471 113,130 Less accumulated depreciation (46,564 ) (39,319 ) Net plant, pipeline and equipment $ 96,907 $ 73,811 Plant, pipeline and equipment serve as collateral for our amended and restated loan agreement with a domestic bank (see Note 12). Interest capitalized for construction for 2015 was approximately $141,000. Interest capitalized for 2014 and 2013 was not significant to the consolidated financial statements. Catalyst amortization relating to the platinum catalyst which is included in cost of sales was $84,269, $84,269 and $38,232 for 2015, 2014 and 2013, respectively.

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2015
GOODWILL AND INTANGIBLE ASSETS, NET [Abstract]
GOODWILL AND INTANGIBLE ASSETS, NET	NOTE 9 – GOODWILL AND INTANGIBLE ASSETS, NET Goodwill The following table summarizes changes in the carrying amount of goodwill for the year ended December 31, 2015 (in thousands): Balance as of December 31, 2014 Adjustment Balance as of December 31, 2015 TC $ 21, 750 $ 48 $ 21,798 We performed an impairment analysis on the value of Goodwill at December 31, 2015, and determined that no impairment existed. Intangible Assets The following table summarizes the gross carrying amounts and accumulated amortization of intangible assets by major class (in thousands): December 31, 2015 Intangible assets subject to amortization (Definite-lived) Gross Accumulated Amortization Net Customer relationships $ 16,852 $ (1,404 ) $ 15,448 Non-compete agreements 94 (24 ) 70 Licenses and permits 1,471 (160 ) 1,311 Developed technology 6,131 (766 ) 5,365 24,548 (2,354 ) 22,194 Intangible assets not subject to amortization (Indefinite-lived) Emissions Allowance 197 - 197 Trade name 2,158 - 2,158 Total $ 26,903 $ (2,354 ) $ 24,549 December 31, 2014 Intangible assets subject to amortization (Definite-lived) Gross Accumulated Amortization Net Customer relationships $ 16,852 $ (281 ) $ 16,571 Non-compete agreements 94 (5 ) 89 Licenses and permits 1,471 (32 ) 1,439 Developed technology 6,131 (153 ) 5,978 24,548 (471 ) 24,077 Intangible assets not subject to amortization (Indefinite-lived) Trade name 2,158 - 2,158 Total $ 26,706 $ (471 ) $ 26,235 Estimated amortization expense for the succeeding five fiscal years is as follows (in thousands): 2016 $ 1,874 2017 1,861 2018 1,860 2019 1,853 2020 1,842 Total $ 9,290

INVESTMENT IN AL MASANE AL KOBR

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY (AMAK)	12 Months Ended
	Dec. 31, 2015
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") [Abstract]
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK")	NOTE 10 - INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") We have concluded that we have significant influence over the operating and financial policies of AMAK and, accordingly, should account for our investment in AMAK using the equity method. As of December 31, 2015, and 2014, we had a non-controlling equity interest of approximately $47.7 million and $53.0 million, respectively. We have received and attached to this Form 10-K the financial statements of AMAK prepared in accordance with generally accepted accounting principles in the United States of America as of December 31, 2015, and 2014, and for each of the three years ended December 31, 2015. These financial statements have been prepared in the functional currency of AMAK which is the Saudi Riyal (SR). In June 1986 the SR was officially pegged to the U.S. Dollar (USD) at a fixed exchange rate of 1 USD to 3.75 SR. The summarized results of operation and financial position for AMAK are as follows: Results of Operations Years Ended December 31, 2015 2014 2013 (Thousands of Dollars) Sales $ 50,744 $ 63,300 $ 104,990 Gross profit (10,437 ) 3,624 21,881 General, administrative and other expenses 8,796 10,487 12,360 Net income (loss) $ (19,233 ) $ (6,863 ) $ 9,521 Depreciation and amortization for the years ended December 31, 2015, 2014, and 2013 was $23.2 million, $23.7 million and $24.4 million, respectively. Therefore, net income before depreciation and amortization was as follows: Years Ended December 31, 2015 2014 2013 (Thousands of Dollars) Net income before depreciation and amortization $ 4,016 $ 16,845 $ 33,878 Financial Position December 31, 2015 2014 (Thousands of Dollars) Current assets $ 26,078 $ 14,893 Noncurrent assets 259,527 268,473 Total assets $ 285,605 $ 283,366 Current liabilities $ 22,740 $ 23,034 Long term liabilities 89,364 67,598 Shareholders' equity 173,501 192,734 Total liabilities and equity $ 285,605 $ 283,366 The equity in the income or loss of AMAK reflected on the consolidated statements of income for the years ended December 31, 2015, 2014, and 2013, is comprised of the following: 2015 2014 2013 AMAK Net Income (Loss) $ (19,233 ) $ (6,863 ) $ 9,521 Zakat tax applicable to Saudi Arabian shareholders only 303 - - AMAK Net Income (Loss) before Saudi Arabian shareholders' portion of Zakat $ (18,930 ) $ (6,863 ) $ 9,521 Company's share of earnings (loss) reported by AMAK (35.25%) $ (6,672 ) $ (2,419 ) $ 3,356 Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK 1,347 1,347 1,347 Equity in earnings (loss) of AMAK $ (5,325 ) $ (1,072 ) $ 4,703 A gain of approximately $16.2 million for the difference between our initial investment in AMAK and our share of AMAK's initial assets recorded at fair value was not recognized in 2008. This basis difference is being amortized over the life of AMAK's mine which is estimated to be twelve years beginning with its commencement of production in July 2012 as an adjustment to our equity in AMAK's income or loss. In December 2012 the Board of Directors of AMAK authorized the issuance of additional shares of AMAK in an amount equal to ten percent of the then outstanding shares to raise funds for working capital requirements and retirement of construction debt. In January 2013 we entered into an agreement with AMAK to purchase an additional 937,500 shares of AMAK at 30 Saudi Riyals (USD $8.00) per share, for a total of USD $7.5 million. Due to the continued improvement in the operations of AMAK and a desire to prevent a substantial dilution of its investment, we elected to purchase these additional shares. As a result of this purchase and upon completion of the raise on May 27, 2013, our ownership percentage in AMAK became approximately 35%. All existing AMAK shareholders had the opportunity to buy into the issue and all shares were placed within that group. As a result of the equity raise in 2013, the Company's share of the net assets of AMAK increased approximately $4.0 million which the Company recognized as a gain (with a corresponding increase in its investment) in accordance with ASC 323-10-40-1. We assess our investment in AMAK for impairment when events are identified, or there are changes in circumstances that may have an adverse effect on the fair value or recoverability of the investment. We consider recoverable ore reserves and the amount and timing of the cash flows to be generated by the production of those reserves, as well as, recent equity transactions within AMAK. No impairment charges were recorded in 2015, 2014, or 2013.

MINERAL PROPERTIES IN THE UNITE

MINERAL PROPERTIES IN THE UNITED STATES	12 Months Ended
	Dec. 31, 2015
MINERAL PROPERTIES IN THE UNITED STATES [Abstract]
MINERAL PROPERTIES IN THE UNITED STATES	NOTE 11 - MINERAL PROPERTIES IN THE UNITED STATES The principal assets of PEVM are an undivided interest in 48 patented and 5 unpatented mining claims totaling approximately 1,500 acres, and a 300 ton-per-day mill located on the aforementioned properties in the PEVM Mining District in southeast Nevada. In August 2001 seventy five unpatented claims were abandoned since they were deemed to have no future value to PEVM. Due to the lack of capital, the properties held by PEVM have not been commercially operated for approximately 35 years.

LONG-TERM DEBT AND LONG-TERM OB

LONG-TERM DEBT AND LONG-TERM OBLIGATIONS	12 Months Ended
	Dec. 31, 2015
LONG-TERM DEBT AND LONG-TERM OBLIGATIONS [Abstract]
LONG-TERM DEBT AND LONG-TERM OBLIGATIONS	NOTE 12 - LONG-TERM DEBT AND LONG-TERM OBLIGATIONS Long-term debt and long-term obligations at December 31 are summarized as follows: 2015 2014 (thousands of dollars) Revolving note to domestic banks (A) 1,000 7,200 Term note to domestic banks (B) 61,250 68,250 Term note to domestic banks (C) 20,000 5,000 Total long-term debt 82,250 80,450 Less current portion 8,333 7,000 Total long-term debt, less current portion $ 73,917 $ 73,450 (A) On October 1, 2014, TOCCO, SHR, GSPL and TC (SHR, GSPL and TC collectively the "Guarantors") entered into an Amended and Restated Credit Agreement ("ARC Agreement") with the lenders which from time to time are parties to the ARC Agreement (collectively, the "Lenders") and Bank of America, N.A., a national banking association, as Administrative Agent for the Lenders, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Lead Arranger. Subject to the terms and conditions of the ARC Agreement, TOCCO may (a) borrow, repay and re-borrow revolving loans (collectively, the "Revolving Loans") from time to time during the period ending September 30, 2019, up to but not exceeding at any one time outstanding $40.0 million (the "Revolving Loan Commitment") and (b) request up to $5.0 million of letters of credit and $5.0 million of swingline loans. Each of the issuance of letters of credit and the advance of swingline loans shall be considered usage of the Revolving Loan Commitment. All outstanding loans under the Revolving Loans must be repaid on October 1, 2019. As of December 31, 2015, TOCCO had borrowed funds under the Revolving Loans aggregating $1.0 million with $39.0 million available to be drawn. (B) Under the ARC Agreement, TOCCO also borrowed $70.0 million in a single advance term loan (the "Acquisition Term Loan") to partially finance the Acquisition. (C) Under the ARC Agreement, TOCCO also has the right to borrow $25.0 million in a multiple advance loan (the "Term Loans," together with the Revolving Loans and Acquisition Term Loan, collectively the "Loans"). Borrowing availability under the Term Loans ended on December 31, 2015. The Term Loans convert from a multiple advance loan to a "mini-perm" loan once TOCCO has fulfilled certain obligations such as certification that construction of D-Train was completed in a good and workmanlike manner, receipt of applicable permits and releases from governmental authorities, and receipt of releases of liens from the contractor and each subcontractor and supplier. The Loans also include a $40.0 million uncommitted increase option (the "Accordion Option"). As of December 31, 2015, TOCCO had borrowed funds under the agreement aggregating $20.0 million with $0.0 million available to be drawn due to the expiration of the borrowing availability. All of the Loans under the ARC Agreement will accrue interest at the lower of (i) a London interbank offered rate ("Eurodollar Rate") plus a margin of between 2.00% and 2.50% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis, or (ii) a base rate ("Base Rate") equal to the highest of the federal funds rate plus 0.50%, the rate announced by Bank of America, N.A. as its prime rate, and Eurodollar Rate plus 1.0%, plus a margin of between 1.00% to 1.50% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis. The Revolving Loans will accrue a commitment fee on the unused portion thereof at a rate between 0.25% and 0.375% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis. Interest on the Revolving Loans will be payable quarterly, with principal due and payable at maturity. Interest on the Acquisition Term Loan will be payable quarterly using a ten year commercial style amortization, commencing on December 31, 2014. The Acquisition Term Loan is also payable as to principal beginning on December 31, 2014, and continuing on the last business day of each March, June, September and December thereafter, each payment in an amount equal to $1,750,000, provided that the final installment on the September 30, 2019, maturity date shall be in an amount equal to the then outstanding unpaid principal balance of the Acquisition Term Loan. Interest on the Term Loans will be payable quarterly using a fifteen year commercial style amortization, with interest only through December 31, 2015, and quarterly principal payments of $333,333 to commence March 31, 2016. Interest on the Loans will be computed (i) in the case of Base Rate Loans, on the basis of a 365-day or 366-day year, as the case may be, and (ii) in the case of Eurodollar Rate Loans, on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues. At December 31, 2015, the variable interest rate under the loans was 2.42%. The Loans may be prepaid in whole or in part without premium or penalty (Eurodollar Rate Loans are prepayable only on the last days of related interest periods or upon payment of any breakage costs) and the lenders' commitments relative thereto reduced or terminated. Subject to certain exceptions and thresholds, outstanding Loans shall be prepaid by an amount equal to 100% of the net cash proceeds from: (i) all sales, transfers, licenses, lease or other disposition of any property by TOCCO and Guarantors (other than a permitted transfer); (ii) any equity issuance by TOCCO or the Guarantors; (iii) any debt issuance by TOCCO or the Guarantors; or (iv) the receipt of any cash received by TOCCO or the Guarantors not in the ordinary course of business. Amounts prepaid in connection with the mandatory repayments described above will be applied first, to the principal repayment installments of the Acquisition Term Loan in inverse order of maturity, second, to the principal repayment installments of the Term Loans in inverse order of maturity and, third, to the Revolving Loans in the manner set forth in the Amended and Restated Credit Agreement. All amounts owing under the ARC Agreement and all obligations under the guarantees will be secured in favor of the Lenders by substantially all of the assets of TOCCO and its subsidiaries and guaranteed by its subsidiaries. The ARC Agreement contains, among other things, customary covenants, including restrictions on the incurrence of additional indebtedness, the granting of additional liens, the making of investments, the disposition of assets and other fundamental changes, the transactions with affiliates and the declaration of dividends and other restricted payments. The ARC Agreement also includes the following financial covenants, each tested on a quarterly basis for TOCCO and its subsidiaries on a consolidated basis: a maximum total leverage ratio of 3.25 to 1, a minimum fixed charge coverage ratio of 1.25 to 1, and an asset coverage test of greater than 1.1 to 1. The ARC Agreement further includes customary representations and warranties and events of default, and upon occurrence of such events of default the outstanding obligations under the ARC Agreement may be accelerated and become immediately due and payable and the commitment of the Lenders to make loans under the ARC Agreement may be terminated. TOCCO was in compliance with all covenants at December 31, 2015. Principal payments of long-term debt for the next five years and thereafter ending December 31 are as follows: Year Ending December 31, Long-Term Debt (thousands of dollars) 2016 $ 8,333 2017 8,333 2018 8,334 2019 57,250 Total $ 82,250

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2015
ACCRUED LIABILITIES [Abstract]
ACCRUED LIABILITIES	NOTE 13 – ACCRUED LIABILITIES Accrued liabilities at December 31 are summarized as follows: 2015 2014 (thousands of dollars) Accrued state taxes $ 325 $ 317 Accrued payroll 1,293 1,708 Accrued interest 34 36 Accrued officers' compensation 1,254 1,600 Other liabilities 1,156 1,359 Total $ 4,062 $ 5,020

ACCRUED LIABILITIES IN SAUDI AR

ACCRUED LIABILITIES IN SAUDI ARABIA	12 Months Ended
	Dec. 31, 2015
ACCRUED LIABILITIES IN SAUDI ARABIA [Abstract]
ACCRUED LIABILITIES IN SAUDI ARABIA	NOTE 14 – ACCRUED LIABILITIES IN SAUDI ARABIA The following liabilities represent amounts owed to the former CEO who retired in 2009. Accrued liabilities in Saudi Arabia at December 31 are summarized as follows: 2015 2014 (thousands of dollars) Termination benefits $ - $ - Lawsuit settlement - 495 Other liabilities - - Total $ - $ 495

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 15 - COMMITMENTS AND CONTINGENCIES Guarantees On October 24, 2010, we executed a limited guarantee in favor of the Saudi Industrial Development Fund (“SIDF”) whereby we agreed to guaranty up to 41% of the SIDF loan to AMAK in the principal amount of 330.0 million Saudi Riyals (US$88.0 million) (the “Loan”). The term of the loan is through June 2019. As a condition of the Loan, SIDF required all shareholders of AMAK to execute personal or corporate guarantees; as a result, the Company’s guarantee is for approximately 135.3 million Saudi Riyals (US$36.1 million). The loan was necessary to continue construction of the AMAK facilities and provide working capital needs. Our current assessment is that the probability of contingent performance was remote based on our analysis of the contingent portion of the guarantee which included but was not limited to the following: (1) the SIDF has historically not called guarantees, (2) the value of the assets exceeds the amount of the loan (3) the other shareholders have indicated that they would prioritize their personal guarantees ahead of the corporate guarantee, and (4) according to Saudi Arabian legal counsel, assets outside of Saudi Arabia are protected from the Saudi Court System. We received no consideration in connection with extending the guarantee and did so to maintain and enhance the value of our investment. Our non-contingent and immediate obligation to stand ready to make payments if the events of default under the guarantee occur was not material to the financial statements. The total amount outstanding to the SIDF at December 31, 2015, and 2014 was 310.0 million and 259.8 million Saudi Riyals (US$82.7 million and US$69.3 million), respectively. Operating Lease Commitments We have operating leases for the rental of over 350 railcars for shipping purposes with expiration dates through 2026. Invoices are received and paid on a monthly basis. The total amount of the commitment is approximately $13.6 million over the next 11 years. We also have an operating lease for our office space in Sugar Land, TX. The expiration date for this lease is 2018. The total amount of the commitment is approximately $0.2 million. In addition, we are required to make periodic payments for property taxes, utilities and common area operating expenses. Future minimum property and equipment lease payments under the non-cancelable operating leases at December 31, 2015, are as follows: Year Ending December 31, Long-Term Debt (thousands of dollars) 2016 $ 3,309 2017 2,540 2018 2,127 2019 1,976 2020 1,829 Thereafter 2,065 Total $ 13,846 Rental expense for these operating leases for the years ended December 31, 2015, 2014, and 2013 was $4.2 million, $2.5 million and $1.8 million, respectively. Litigation On March 21, 2011, Mr. El Khalidi filed suit against the Company in Texas alleging breach of contract and other claims. The 88th Judicial District Court of Hardin County, Texas dismissed all claims and counterclaims for want of prosecution in this matter on July 24, 2013. The Ninth Court of Appeals subsequently affirmed the dismissal for want of prosecution and the Supreme Court of Texas denied Mr. El Khalidi's petition for review. On May 1, 2014, Mr. El Khalidi refiled his lawsuit against the Company for breach of contract and defamation in the 356th Judicial District Court of Hardin County, Texas. The case was transferred to the 88th Judicial District Court of Hardin County, Texas where it is currently pending. On April 6, 2015, Mr. El-Khalidi nonsuited his defamation claim. We believe that the remaining claims are unsubstantiated and plan to vigorously defend the case. Liabilities of approximately $1.0 million remain recorded, and the options will continue to accrue in accordance with their own terms until all matters are resolved. On September 14, 2010, SHR received notice of a lawsuit filed in the 58th Judicial District Court of Jefferson County, Texas which was subsequently transferred to the 11th Judicial District Court of Harris County, Texas. The suit alleges that the plaintiff became ill from exposure to asbestos. There are approximately 44 defendants named in the suit. On December 15, 2015, plaintiff agreed to settle all claims against SHR for a de minimis amount. On April 30, 2015, TC and TREC received notice of a lawsuit filed in the 152nd Judicial District Court of Harris County, Texas. The suit alleges that the plaintiff, an independent contractor employee, was injured while working on a product line at TC. We have placed our insurers on notice and plan to vigorously defend the case. On or about August 3, 2015, SHR received notice of a lawsuit filed in the 14th Judicial District Court of Calcasieu Parish, Louisiana. The suit alleges that the plaintiff became ill from exposure to benzene. SHR placed its insurers on notice. Its insurers retained a law firm based in Louisiana to defend SHR. Environmental Remediation Amounts charged to expense for various activities related to environmental monitoring, compliance, and improvements were approximately $604,000 in 2015, $414,000 in 2014 and $386,000 in 2013.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	NOTE 16 - SHARE-BASED COMPENSATION Share-based compensation of approximately $2.3 million, $2.1 million, and $1.2 million was recognized in 2015, 2014, and 2013, respectively. Restricted Common Stock On May 20, 2015, we awarded 30,000 shares of restricted stock to a director at a grant date price of $12.39. The restricted stock award vests over 5 years in 20% increments with the first tranche to be issued on May 19, 2016. Compensation expense recognized during 2015 was approximately $43,000. On April 14, 2015, we awarded 1,000 shares of restricted stock to two of our 30 year employees at a grant date price of $12.03. The restricted stock award was fully vested. Compensation expense recognized during 2015 was approximately $12,000. On February 12, 2015, we awarded 18,000 shares of fully vested restricted stock to various employees at a grant date price of $14.34. Compensation expense recognized during 2015 was approximately $258,000. On February 10, 2015, we awarded 118,040 shares of restricted stock to our officers at a grant date price of $14.59. The restricted stock award vests over 4 years in 25% increments with the first tranche to be issued on February 9, 2016. Compensation expense recognized during 2015 was approximately $395,000. A summary of the status of the Company's restricted stock activity in 2015 is as follows: Shares of Restricted Stock Weighted Average Grant Date Price per Share Outstanding at January 1, 2015 - $ - Granted 167,040 14.15 Vested (19,000 ) 14.22 Outstanding at December 31, 2015 148,040 $ 14.14 Expected to vest 148,040 As of December 31, 2015, there was approximately $1.7 million of unrecognized compensation costs related to non-vested share-based compensation that is expected to be recognized over a weighted average period of 3.3 years. In October 2014 we issued 7,000 shares of restricted common stock to the President of TC. Compensation expense of $79,310 was recognized in connection with this issuance. Stock Options and Warrant Awards On April 3, 2012, the Board of Directors of the Company adopted the Trecora Resources Stock and Incentive Plan (the "Plan") subject to the approval of Company's shareholders. Shareholders approved the Plan at the 2012 Annual Meeting of Shareholders on June 6, 2012. We filed Form S-8 to register the 1,500,000 shares allocated to the Plan on May 8, 2013. On April 7, 2008, the Board of Directors of the Company adopted the Stock Option Plan for Key Employees, as well as, the Non-Employee Director Stock Option Plan (hereinafter collectively referred to as the "Stock Option Plans"), subject to the approval of Company's shareholders. Shareholders approved the Stock Option Plans at the 2008 Annual Meeting of Shareholders on July 10, 2008. We filed Form S-8 to register the 1,000,000 shares allocated to the Stock Option Plans on October 23, 2008. Compensation expense recognized in connection with the following issuances was approximately $1,645,000, $2,063,000, and $1,214,000 for the years ended December 31, 2015, 2014, and 2013, respectively. There were no stock options or warrant awards issued during 2015. A summary of all 2014 issuances is as follows: On February 21, 2014, we awarded 10 year options to various employees for 500,000 shares. These options have an exercise price equal to the closing price of the stock on February 21, 2014, which was $12.26 and vest in 25% increments over a 4 year period. Compensation expense recognized during 2015 and 2014 was approximately $1,108,000 and $955,000, respectively. The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions: Expected volatility 84 % Expected dividends None Expected term (in years) 6.25 Risk free interest rate 1.95 % A summary of all 2013 issuances is as follows: On May 29, 2013, we awarded 10 year options to Simon Upfill-Brown for 90,000 shares. These options have an exercise price equal to the closing price of the stock on May 29, 2013, which was $7.71 and vest in 25% increments over a 4 year period. Compensation expense recognized during 2015, 2014 and 2013 in connection with this award was approximately $ 126,000, $126,000 and $84,000, respectively. The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions: Expected volatility 85 % Expected dividends None Expected term (in years) 6.25 Risk free interest rate 1.33 % On February 1, 2013, we issued a warrant for the purchase of 100,000 shares of common stock to Genesis Select Corporation ("Genesis") at a strike price of $10.00 per share. The term of the warrant is 5 years with 50% vesting in equal increments of 1/12 th th A summary of all 2012 issuances is as follows: On November 15, 2012, we awarded 10 year options to Director Gary Adams for 100,000 shares. These options have an exercise price equal to the closing price of the stock on November 15, 2012, which was $7.14 and vest in 20% increments over a 5 year period. Compensation expense recognized during 2015, 2014, and 2013 in connection with this award was approximately $ 120,000 each year. The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions: Expected volatility 87 % Expected dividends None Expected term (in years) 6.5 Risk free interest rate 0.92 % A summary of all 2011 issuances is as follows: On May 20, 2011, we awarded 10 year options to Director Joseph Palm for 19,333 shares with the intent to increase the aggregate grant to 100,000 shares as they become available. The initial grant of 19,333 options has an exercise price equal to the closing price of the stock on May 20, 2011, which was $3.90 and vest after 1 year. Compensation expense recognized during 2015, 2014, and 2013 in connection with this award was approximately $0. On September 25, 2011, we awarded 10 year options to Director Joseph Palm for 80,000 shares with an exercise price equal to the closing price of the stock on September 23, 2011, (the latest closing date available) which was $3.52. These options vest over 4.67 years with the first 20,000 vesting on May 19, 2013, and subsequent 20,000 share lots vesting each anniversary of that date subsequent until entirely vested. Compensation expense recognized for 2015, 2014 and 2013 was approximately $65,000 each year. On May 2, 2011, we awarded 10 year options to Director John Townsend for 100,000 shares. These options have an exercise price equal to the closing price of the stock on May 2, 2011, which was $4.09 and vest in 20% increments over a 5 year period. Compensation expense recognized during 2015, 2014, and 2013 in connection with this award was approximately $80,000 each year. On January 12, 2011, we awarded 10 year options to key employees for 391,000 shares. These options have an exercise price equal to the closing price of the stock on January 12, 2011, which was $4.86 and vest in 25% increments over a 4 year period. Compensation expense recognized during 2015, 2014, and 2013 in connection with this award was approximately $40,000, $475,000 and $475,000, respectively. The fair value of the 2011 options granted was calculated using the Black-Scholes option valuation model with the following range of assumptions: Expected volatility 96% to 413% Expected dividends None Expected term (in years) 5-10 Risk free interest rate 1.26% to 3.34% A summary of all 2010 issuances is as follows: In February 2010 we awarded 500,000 options to non-employee directors for their service during 2010 subject to attendance and service requirements. These options vest over a 5 year period. The exercise price of these options is $2.82 based upon the closing price on February 23, 2010. Directors' fee expense recognized during 2015, 2014 and 2013 in connection with this award was approximately $9,000, $66,000 and $113,000, respectively. The fair value of the 2010 options granted was calculated using the Black-Scholes option valuation model with the following range of assumptions: Expected volatility 338% to 467% Expected dividends None Expected term (in years) 5-10 Risk free interest rate 2.37% to 3.68% A summary of unvested 2009 issuances is as follows: On July 2009 we awarded two stock options to Mr. Hatem El Khalidi and his wife, Ingrid El Khalidi, tied to the performance of AMAK as follows: (1) an option to purchase 200,000 shares of the Company's common stock with an exercise price of $3.40 per share, equal to the closing sale price of such a share as reported on the Nasdaq National Market System on July 2, 2009, provided that said option may not be exercised until such time as the first shipment of ore from the Al Masane mining project is transported for commercial sale by AMAK, and further that said option shall terminate and be immediately forfeited if not exercised on or before June 30, 2012; and (2) an option to purchase 200,000 shares of the Company's common stock with an exercise price equal to the closing sale price of such a share as reported on the Nasdaq Stock Market on July 2, 2009, provided that said option may not be exercised until such time as the Company receives its first cash dividend distribution from AMAK, and further that said option shall terminate and be immediately forfeited if not exercised on or before June 30, 2019. Compensation expense of approximately $97,000, $97,000 and $97,000 was recognized during the years ended December 31, 2015, 2014, and 2013, respectively, related to the options awarded to Mr. El Khalidi. Approximately $413,000 was reversed during 2012 due to the performance condition associated with 200,000 shares in options not being met as required by the terms of the award by June 30, 2012. Previously, on May 9, 2010, the Board of Directors determined that Mr. El Khalidi forfeited all options and other retirement benefits when he made various demands against the Company and other AMAK Saudi shareholders which would benefit him personally and were not in the best interests of the Company and its shareholders. As discussed in Note 15 we are currently in litigation with Mr. El Khalidi and in connection therewith, we are currently reviewing our legal right to withdraw the options and benefits. However, as of December 31, 2015, the options vesting upon a cash dividend distribution from AMAK continue to be shown as outstanding. A summary of the status of the Company's stock option and warrant awards is presented below: Stock Options and Warrants Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Intrinsic Value (in thousands) Outstanding at December 31, 2014 1,598,191 $ 7.16 Granted - - Expired - - Exercised (221,754 ) 3.94 Forfeited - - Outstanding at December 31, 2015 1,376,437 $ 7.68 6.1 $ 6,483 Expected to vest 522,500 $ 10.63 7.8 $ 920 Exercisable at December 31, 2015 653,937 $ 6.63 5.6 $ 3,767 The aggregate intrinsic value of options was calculated as the difference between the exercise price of the underlying awards and the quoted price of our common stock. At December 31, 2015, options and warrants to purchase approximately 1.4 million shares of common stock were in-the-money. The weighted average grant-date fair value per share of options granted during the years 2015, 2014, and 2013 was $0, $12.26 and $7.71, respectively. During 2015, 2014 and 2013 the aggregate intrinsic value of options exercised was approximately $2,300,000, $1,600,000 and $142,000 respectively, determined as of the date of option exercise. The Company received approximately $123,000, $91,000 and $60,000 in cash from the exercise of options during 2015, 2014 and 2013, respectively. Some of the options were exercised via a net transaction. The tax benefit realized from the exercise was insignificant. A summary of the status of the Company's non-vested options that are expected to vest is presented below: Shares Weighted Average Grant-Date Fair Value Per Share Non-vested at January 1, 2015 825,250 $ 9.59 Granted - - Forfeited - - Vested (325,250 ) 7.79 Non-vested at December 31, 2015 500,000 $ 10.76 Total fair value of options that vested during 2014 was approximately $1,496,000. As of December 31, 2015, there was approximately $2.9 million of unrecognized compensation costs related to non-vested share-based compensation that is expected to be recognized over a weighted average period of 2.0 years. The Company expects to issue shares upon exercise of options and warrants from its authorized but unissued common stock.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 17 – INCOME TAXES The provision for income taxes consisted of the following: Year ended December 31, 2015 2014 2013 (thousands of dollars) Current federal provision $ 4,062 $ 8,756 $ 6,748 Current state provision 285 296 233 Deferred federal provision (benefit) 5,367 (1,893 ) 1,173 Deferred state provision (benefit) 50 (12 ) (7 ) Income tax expense $ 9,764 $ 7,147 $ 8,147 The difference between the effective tax rate in income tax expense and the Federal statutory rate of 35% for the years ended December 31, 2015, 2014, and 2013, is as follows: 2015 2014 2013 (thousands of dollars) Income taxes at U.S. statutory rate $ 9,927 $ 7,952 $ 9,675 State taxes, net of federal benefit 230 181 139 Permanent and other items (393 ) (915 ) (644 ) Increase (decrease) in valuation allowance - (71 ) (1,023 ) Total tax expense $ 9,764 $ 7,147 $ 8,147 The Texas margin tax rate was reduced in a legislative reduction effective January 1, 2015. Permanent differences are primarily due to the Federal manufacturer's deduction and stock options. Tax effects of temporary differences that give rise to significant portions of federal and state deferred tax assets and deferred tax liabilities were as follows: December 31, 2015 2014 (thousands of dollars) Deferred tax liabilities: Plant, pipeline and equipment $ (14,996 ) $ (8,352 ) Intangible assets (284 ) - Other assets (14 ) - Investment in AMAK ( 2,522 ) ( 4,382 ) Total deferred tax liabilities $ (17,816 ) $ (12,734 ) Deferred tax assets: Accounts receivable 283 276 Inventory 1,785 1,018 Mineral interests 376 376 Unrealized loss on swap agreements 62 196 Post-retirement benefits 330 327 Stock-based compensation 969 1,705 Intangible assets - 229 Deferred revenue - 164 Gross deferred tax assets 3,805 4,291 Valuation allowance (376 ) (376 ) Total net deferred tax assets $ 3,429 $ 3,915 Net deferred tax liabilities $ (14,387 ) $ (8,819 ) The current and non-current classifications of the deferred tax balances are as follows: 2015 2014 (thousands of dollars) Current: Deferred tax asset $ 2,116 $ 1,652 Non-current: Deferred tax assets 4,637 3,269 Deferred tax liability (20,764 ) (13,364 ) Valuation allowance (376 ) (376 ) Non-current deferred tax liability, net (16,503 ) (10,471 ) Total deferred liabilities, net $ (14,387 ) $ (8,819 ) We have provided a valuation allowance in 2015 and 2014 against certain deferred tax assets because of uncertainties regarding their realization. The 2014 decrease in the valuation allowance of $71,000 is due largely to changes in our environmental accrual. The 2013 decrease in the valuation allowance of $1,023,000 is due largely to changes in our investment in AMAK. We had no Saudi Arabian income tax liability in 2015, 2014, or 2013. We file an income tax return in the U.S. federal jurisdiction and a margin tax return in Texas. Tax returns for various jurisdictions remain open for examination for the years 2011 through 2014.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2015
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	NOTE 18 – SEGMENT INFORMATION As discussed in Note 1, in October 2014 we began operating in two business segments; petrochemical and specialty waxes. We operate through business segments according to the nature and economic characteristics of our products as well as the manner in which the information is used internally by our key decision maker, who is our Chief Executive Officer. The accounting policies of the reporting segments are the same as those described in Note 2. Our petrochemical segment includes SHR and GSPL. Our specialty wax segment includes TC. We also separately identify our corporate overhead and investing which includes financing and administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs. The table below reflects full year 2015. Year Ended December 31, 2015 Petrochemical Specialty Wax Corporate Consolidated (in thousands) Net revenues $ 218,233 $ 23,743 $ - $ 241,976 Operating profit before depreciation and amortization 47,565 4,549 (7,013 ) 45,101 Operating profit (loss) 43,081 (1 ) (7,039 ) 36,041 Depreciation and amortization 4,484 4,550 26 9,060 Capital expenditures 24,358 6,889 - 31,247 Year Ended December 31, 2015 Petrochemical Specialty Wax Corporate Eliminations Consolidated (in thousands) Goodwill and intangible assets, net $ - $ 46,347 $ - $ - $ 46,347 Total assets 196,378 86,076 98,728 (122,371 ) 258,811 The table below reflects only fourth quarter 2014 transactions for TC since that is the time period affected by segment reporting. Year Ended December 31, 2014 Petrochemical Specialty Wax Corporate Consolidated (in thousands) Net revenues $ 284,345 $ 5,298 $ - $ 289,643 Operating profit before depreciation and amortization 37,083 16 (6,412 ) 30,687 Operating profit (loss) 33,019 (1,125 ) (6,412 ) 25,482 Depreciation and amortization 4,064 1,612 - 5,676 Capital expenditures 13,986 780 - 14,766 Year Ended December 31, 2014 Petrochemical Specialty Wax Corporate Eliminations Consolidated (in thousands) Goodwill and intangible assets, net $ - $ 47,985 $ - $ - $ 47,985 Total assets 172,945 79,135 99,360 (119,366 ) 232,074

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE	12 Months Ended
	Dec. 31, 2015
NET INCOME PER COMMON SHARE [Abstract]
NET INCOME PER COMMON SHARE	NOTE 19 - NET INCOME PER COMMON SHARE Year ended December 31, 2015 2014 2013 (thousands of dollars) Net income $ 18,598 $ 15,571 $ 19,498 Basic earnings per common share: Weighted average shares outstanding 24,370 24,188 24,115 Per share amount (dollars) $ 0.76 $ 0.64 $ 0.81 Diluted earnings per common share: Weighted average shares outstanding 25,181 24,896 24,745 Per share amount (dollars) $ 0.74 $ 0.63 $ 0.79 Weighted average shares-denominator basic computation 24,370 24,188 24,115 Unvested restricted stock grant 141 - - Effect of dilutive stock options 670 708 630 Weighted average shares, as adjusted denominator diluted computation 25,181 24,896 24,745 At December 31, 2015, 2014, and 2013, 1,376,437, 1,598,191 and 1,326,360 potential common stock shares, respectively, were issuable upon the exercise of options and warrants. The earnings per share calculations for the periods ended December 31, 2015, 2014, and 2013, include 300,000 shares of the Company that are held in the treasury of TOCCO.

QUARTERLY RESULTS OF OPERATIONS

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) [Abstract]
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	NOTE 20 - QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The quarterly results of operations shown below are derived from unaudited financial statements for the eight quarters ended December 31, 2015 (in thousands, except per share data): Year Ended December 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Total Revenues $ 55,143 $ 59,350 $ 66,938 $ 60,545 $ 241,976 Gross profit 15,713 15,184 16,625 11,847 59,369 Net income 5,784 6,374 5,318 1,122 18,598 Basic EPS $ 0.24 $ 0.26 $ 0.21 $ 0.05 $ 0.76 Diluted EPS $ 0.23 $ 0.25 $ 0.21 $ 0.05 $ 0.74 Year Ended December 31, 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Total Revenues $ 64,100 $ 74,553 $ 76,917 $ 74,073 $ 289,643 Gross profit 8,714 11,700 13,044 12,285 45,743 Net income 2,599 5,000 5,774 2,198 15,571 Basic EPS $ 0.11 $ 0.20 $ 0.24 $ 0.09 $ 0.64 Diluted EPS $ 0.11 $ 0.20 $ 0.23 $ 0.09 $ 0.63

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 21 – RELATED PARTY TRANSACTIONS Consulting fees of approximately $25,000, $52,000 and $98,000 were incurred during 2015, 2014, and 2013, respectively from IHS Global FZ LLC of which Company Director Gary K. Adams holds the position of Chief Advisor – Chemicals. At December 31, 2015, and 2014, we had no outstanding liability payable to IHS Global FZ LLC.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2015
DERIVATIVE INSTRUMENTS [Abstract]
DERIVATIVE INSTRUMENTS	NOTE 22 – DERIVATIVE INSTRUMENTS Commodity Financial Instruments Hydrocarbon based manufacturers, such as SHR, are significantly impacted by changes in feedstock and natural gas prices. Not considering derivative transactions, feedstock and natural gas used for the years ended December 31, 2015, 2014, and 2013, represented approximately 69.3%, 78.0% and 80.6% of SHR's operating expenses, respectively. On February 26, 2009, the Board of Directors rescinded its original commodity trading resolution from 1992 and replaced it with a new resolution. The 2009 resolution allows the Company to establish a commodity futures account for the purpose of maximizing our resources and reducing risk as pertaining to our purchases of natural gas and feedstock for operational purposes by employing a four step process. This process, in summary, includes, (1) education of employees who are responsible for carrying out the policy, (2) adoption of a derivatives policy by the Board explaining the objectives for use of derivatives including accepted risk limits, (3) implementation of a comprehensive derivative strategy designed to clarify the specific circumstances under which we will use derivatives, and (4) establishment and maintenance of a set of internal controls to ensure that all of the derivatives transactions taking place are authorized and in accord with the policies and strategies that have been enacted. On August 31, 2009, the Company adopted a formal risk management policy which incorporates the above process, as well as, established a "hedge committee" for derivative oversight. We endeavor to acquire feedstock and natural gas at the lowest possible cost. The primary feedstock (natural gasoline) is traded over the counter and not on organized futures exchanges. Financially settled instruments (fixed price swaps) are the principal vehicle used to give some predictability to feed prices. We do not purchase or hold any derivative financial instruments for trading purposes. The following tables detail (in thousands) the impact the feedstock and natural gas instruments had on the financial statements: December 31, 2015 2014 2013 Realized gain (loss) $ (180 ) $ (452 ) $ 40 Unrealized gain (loss) 180 (132 ) (48 ) Net loss $ - $ (584 ) $ (8 ) December 31, 2015 2014 Fair value of derivative liability $ - $ 180 Realized and unrealized gains / (losses) are recorded in Cost of Petrochemical Product Sales and Processing for the years ended December 31, 2015, 2014, and 2013. Interest Rate Swaps On March 21, 2008, SHR entered into a pay-fixed, receive-variable interest rate swap agreement with Bank of America related to the $10.0 million (later increased to $14 million) term loan secured by plant, pipeline and equipment. The effective date of the interest rate swap agreement was August 15, 2008, and terminates on December 15, 2017. The notional amount of the interest rate swap was $2.75 million at December 31, 2015. We receive credit for payments of variable rate interest made on the term loan at the loan's variable rates, which are based upon the London InterBank Offered Rate (LIBOR), and pay Bank of America an interest rate of 5.83% less the credit on the interest rate swap. We originally designated the transaction as a cash flow hedge according to ASC Topic 815, Derivatives and Hedging. Beginning on August 15, 2008, the derivative instrument was reported at fair value with any changes in fair value reported within other comprehensive income (loss) in the Company's Statement of Stockholders' Equity. We entered into the interest rate swap to minimize the effect of changes in the LIBOR rate. The following tables detail (in thousands) the impact the agreement had on the financial statements: December 31, 2015 2014 2013 Accumulated Other Comprehensive Income (Loss) Cumulative loss $ - $ - $ (563 ) Deferred tax benefit - - 197 Net cumulative loss $ - $ - $ (366 ) Interest expense reclassified from other comprehensive income (loss) $ - $ 378 $ 301 December 31, 2015 2014 Fair value of derivative liability $ 177 $ 378 Due to the new debt agreements associated with the Acquisition, we believe that the hedge is no longer entirely effective. Due to the time required to make the determination and the immateriality of the hedge, we began treating the interest rate swap as ineffective as of October 1, 2014, and the unrealized loss associated with the swap of approximately $378,000 was recognized in the Statement of Income.

POST RETIREMENT OBLIGATIONS

POST RETIREMENT OBLIGATIONS	12 Months Ended
	Dec. 31, 2015
POST-RETIREMENT OBLIGATIONS [Abstract]
POST-RETIREMENT OBLIGATIONS	NOTE 23- POST-RETIREMENT OBLIGATIONS In January 2008 an amended retirement agreement, replacing the February 2007 agreement, was entered into with Hatem El Khalidi. The amended agreement provided $6,000 per month in benefits to Mr. El Khalidi upon his retirement for the remainder of his life. Additionally, upon his death $4,000 per month would be paid to his surviving spouse for the remainder of her life. A health insurance benefit was also to be provided. An additional $382,000 was accrued in January 2008 for the increase in benefits. A liability of approximately $911,000 based upon an annuity single premium value contract was outstanding at December 31, 2015, and was included in post-retirement benefits. Mr. El Khalidi retired effective June 30, 2009. As of December 31, 2015, no payments have been made pursuant to this agreement. In June 2009 the Company's Board of Directors awarded Mr. El Khalidi a retirement bonus in the amount of $31,500 for 42 years of service. While there is no written policy regarding retirement bonus compensation, the Company has historically awarded all employees (regardless of job position) a retirement bonus equal to $750 for each year of service. Since Mr. El Khalidi was employed by the Company for 42 years, the Board of Directors voted to award him a $31,500 retirement bonus, consistent with that provided to all other retired employees. This amount was outstanding at December 31, 2015, and was included in post-retirement benefits. On May 9, 2010, the Board of Directors terminated the retirement agreement, options, retirement bonus, and any outstanding directors' fees due to Mr. El Khalidi; however, due to the litigation discussed in Note 15, all amounts remain outstanding until a resolution is achieved.

VALUATION AND QUALIFYING ACCOUN

VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2015
VALUATION AND QUALIFYING ACCOUNTS [Abstract]
VALUATION AND QUALIFYING ACCOUNTS	VALUATION AND QUALIFYING ACCOUNTS Three years ended December 31, 2015 Description Beginning balance Charged (credited) to earnings Deductions Ending balance ALLOWANCE FOR DEFERRED TAX ASSET December 31, 2013 1,470,034 (1,023,115 ) - 446,919 December 31, 2014 446,919 (122,500 ) 51,618 376,037 December 31, 2015 376,037 - - 376,037 Description Beginning balance Charged to earnings Deductions Ending balance ALLOWANCE FOR DOUBTFUL ACCOUNTS December 31, 2013 210,000 - - 210,000 December 31, 2014 210,000 - - 210,000 December 31, 2015 210,000 - - 210,000

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Principles of Consolidation	Principles of Consolidation
Cash, Cash Equivalents and Short-Term Investments	Cash, Cash Equivalents and Short-Term Investments
Inventories	Inventories
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts
Notes Receivable	Notes Receivable
Mineral Exploration and Development Costs	Mineral Exploration and Development Costs
Plant, Pipeline and Equipment	Plant, Pipeline and Equipment Interest costs incurred to finance expenditures during construction phase are capitalized as part of the historical cost of constructing the assets. Construction commences with the development of the design and ends when the assets are ready for use. Capitalized interest costs are included in plant, pipeline and equipment and are depreciated over the service life of the related assets. Platinum catalyst is included in plant, pipeline and equipment at cost. Amortization of the catalyst is based upon cost less estimated salvage value of the catalyst using the straight line method over the estimated useful life (see Note 8).
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Definite-lived intangible assets consist of customer relationships, licenses, permits and developed technology that were acquired as part of the Acquisition. The majority of these assets are being amortized using discounted estimated future cash flows over the term of the related agreements. Intangible assets associated with customer relationships are being amortized using the discounted estimated future cash flows method based upon assumed rates of annual customer attrition. We continually evaluate the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they will be removed from the consolidated balance sheets.
Business Combinations and Related Business Acquisition Costs	Business Combinations and Related Business Acquisition Costs Business acquisition costs are expensed as incurred and are reported as general and administrative expenses in the consolidated statements of income. We define these costs to include finder's fees, advisory, legal, accounting, valuation, and other professional consulting fees, as well as, travel associated with the evaluation and effort to acquire specific businesses.
Investment in AMAK	Investment in AMAK We assess our investment in AMAK for impairment when events are identified, or there are changes in circumstances that may have an adverse effect on the fair value of the investment. We consider recoverable ore reserves and the amount and timing of the cash flows to be generated by the production of those reserves, as well as, recent equity transactions within AMAK.
Other Assets	Other Assets
Long-Lived Assets Impairment	Long-Lived Assets Impairment The amount of the impairment loss to be recorded is calculated by the excess of the asset's carrying value over its fair value. Fair value is generally determined using a discounted cash flow analysis although other factors including the state of the economy are considered.
Revenue recognition	Revenue Recognition – Revenues received in advance of future sales of products or prior to the performance of services are presented as deferred revenues.
Shipping and handling costs	Shipping and Handling Costs -
Retirement plan	Retirement Plan
Environmental Liabilities	Environmental Liabilities
Other Liabilities	Other Liabilities
Net Income Per Share	Net Income Per Share
Foreign Currency	Foreign Currency
Management Estimates	Management Estimates
Share-Based Compensation	Share-Based Compensation
Guarantees	Guarantees – a) We have a non-contingent and immediate obligation to stand ready to make payments if certain future triggering events occur. For certain guarantees, a liability is recognized for the stand ready obligation at the inception of the guarantee; and b) We have an obligation to make future payments if those certain future triggering events do occur. A liability for the payment under the guarantee is recognized when 1) it becomes probable that one or more future events will occur, triggering the requirement to make payments under the guarantee and 2) when the payment can be reasonably estimated.
Derivatives	Derivatives
Income Taxes	Income Taxes bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded if there is uncertainty as to the realization of deferred tax assets. Our estimate of the potential outcome of any uncertain tax issues is subject to management's assessment of relevant risks, facts, and circumstances existing at that time. We use a more likely than not threshold for financial statement recognition and measurement of tax position taken or expected to be taken in a tax return. To the extent that our assessment of such tax position changes, the change in estimate is recorded in the period in which the determination is made. We report tax-related interest and penalties as a component of income tax expense. We recognized no material adjustment in the liability for unrecognized income tax benefits. As of December 31, 2015, and 2014, no interest or penalties related to uncertain tax positions had been accrued.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014 the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers Revenue Recognition Revenue from Contracts with Customers In June 2014 the FASB issued ASU No. 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In April 2015 the FASB issued ASU No. 2015-03 , Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting In November 2015 the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In February 2016 the FASB issued ASU No. 2016-02, Leases (Topic 842) . The new standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This standard affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this Update supersedes FASB ASC 840, Leases . The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the impact of adopting this ASU on its consolidated financial statements and related disclosures.

ACQUISITION OF TRECORA CHEMIC36

ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.) (Tables)	12 Months Ended
	Dec. 31, 2015
ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.) [Abstract]
Schedule of Consideration Paid	The following table summarizes the consideration paid for TC (in thousands): Cash paid at closing $ 2,902 Cash paid for working capital adjustment 1,916 Debt 70,000 Total purchase consideration $ 74,818
Schedule of Allocation of Purchase Price	The allocation of the aggregate purchase price is as follows (in thousands): Purchase Price $ 74,818 Cash $ 107 Trade receivables 2,821 Inventories 3,339 Prepaid expenses and other assets 743 Plant, pipeline and equipment 23,973 Other intangible assets 26,706 Accounts payable (1,074 ) Accrued liabilities (1,121 ) Other liabilities (1,759 ) Long-term debt, net of current portion (667 ) 53,068 Goodwill $ 21,750
Schedule of Indefinite Intangible Assets	The components of the other intangible assets listed in the table above, based upon a third party appraisal, were as follows (in thousands): Identifiable Intangible Asset Value Life (years) Customer Relationships $ 16,852 15 Non-compete Agreements 94 5 Licenses and Permits 1,471 various Trade Name 2,158 indefinite Developed Technology 6,131 10 Total $ 26,706 Weighted average amortization period 12.5
Unaudited Pro Forma Financial Information	The following unaudited pro forma financial information reflects the consolidated results of operation of the Company as if the Acquisition had taken place on January 1, 2013 (in thousands): Years Ended December 31, 2014 2013 Sales $ 308,966 $ 259,348 Net Income $ 16,623 $ 20,223

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following items are measured at fair value on a recurring basis at December 31, 2015 and 2014: Fair Value Measurements Using December 31, 2015 Total Level 1 Level 2 Level 3 (thousands of dollars) Liabilities: Interest rate swap $ 177 $ - $ 177 $ - Fair Value Measurements Using December 31, 2014 Total Level 1 Level 2 Level 3 (thousands of dollars) Liabilities: Interest rate swap $ 378 $ - $ 378 $ - Commodity financial instruments 180 180

TRADE RECEIVABLES (Tables)

TRADE RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2015
TRADE RECEIVABLES [Abstract]
Trade Receivables	Trade receivables, net, at December 31, 2015, and 2014, respectively, consisted of the following: 2015 2014 (thousands of dollars) Trade receivables $ 19,684 $ 28,481 Less allowance for doubtful accounts (210 ) (210 ) Trade receivables, net $ 19,474 $ 28,271

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2015
INVENTORIES [Abstract]
Inventory	Inventories include the following at December 31: 2015 2014 (thousands of dollars) Raw material $ 2,905 $ 2,826 Work in process 56 49 Finished products 12,843 9,940 Total inventory $ 15,804 $ 12,815

PLANT, PIPELINE AND EQUIPMENT (

PLANT, PIPELINE AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
PLANT, PIPELINE AND EQUIPMENT [Abstract]
Plant, Pipeline and Equipment	Plant, pipeline and equipment include the following at December 31: 2015 2014 (thousands of dollars) Platinum catalyst $ 1,612 $ 1,612 Land 4,577 4,577 Plant, pipeline and equipment 128,302 95,351 Construction in progress 8,980 11,590 Total plant, pipeline and equipment 143,471 113,130 Less accumulated depreciation (46,564 ) (39,319 ) Net plant, pipeline and equipment $ 96,907 $ 73,811

GOODWILL AND INTANGIBLE ASSET41

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2015
GOODWILL AND INTANGIBLE ASSETS, NET [Abstract]
Summary of Changes in the Carrying Amount of Goodwill	The following table summarizes changes in the carrying amount of goodwill for the year ended December 31, 2015 (in thousands): Balance as of December 31, 2014 Adjustment Balance as of December 31, 2015 TC $ 21, 750 $ 48 $ 21,798
Summary of Intangible Assets by Major Class	The following table summarizes the gross carrying amounts and accumulated amortization of intangible assets by major class (in thousands): December 31, 2015 Intangible assets subject to amortization (Definite-lived) Gross Accumulated Amortization Net Customer relationships $ 16,852 $ (1,404 ) $ 15,448 Non-compete agreements 94 (24 ) 70 Licenses and permits 1,471 (160 ) 1,311 Developed technology 6,131 (766 ) 5,365 24,548 (2,354 ) 22,194 Intangible assets not subject to amortization (Indefinite-lived) Emissions Allowance 197 - 197 Trade name 2,158 - 2,158 Total $ 26,903 $ (2,354 ) $ 24,549 December 31, 2014 Intangible assets subject to amortization (Definite-lived) Gross Accumulated Amortization Net Customer relationships $ 16,852 $ (281 ) $ 16,571 Non-compete agreements 94 (5 ) 89 Licenses and permits 1,471 (32 ) 1,439 Developed technology 6,131 (153 ) 5,978 24,548 (471 ) 24,077 Intangible assets not subject to amortization (Indefinite-lived) Trade name 2,158 - 2,158 Total $ 26,706 $ (471 ) $ 26,235
Estimated Amortization Expenses for Succeeding Five Fiscal Years	Estimated amortization expense for the succeeding five fiscal years is as follows (in thousands): 2016 $ 1,874 2017 1,861 2018 1,860 2019 1,853 2020 1,842 Total $ 9,290

INVESTMENT IN AL MASANE AL KO42

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY (AMAK) (Tables)	12 Months Ended
	Dec. 31, 2015
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") [Abstract]
Summarized Results of Operation and Financial Position for AMAK	The summarized results of operation and financial position for AMAK are as follows: Results of Operations Years Ended December 31, 2015 2014 2013 (Thousands of Dollars) Sales $ 50,744 $ 63,300 $ 104,990 Gross profit (10,437 ) 3,624 21,881 General, administrative and other expenses 8,796 10,487 12,360 Net income (loss) $ (19,233 ) $ (6,863 ) $ 9,521 Depreciation and amortization for the years ended December 31, 2015, 2014, and 2013 was $23.2 million, $23.7 million and $24.4 million, respectively. Therefore, net income before depreciation and amortization was as follows: Years Ended December 31, 2015 2014 2013 (Thousands of Dollars) Net income before depreciation and amortization $ 4,016 $ 16,845 $ 33,878 Financial Position December 31, 2015 2014 (Thousands of Dollars) Current assets $ 26,078 $ 14,893 Noncurrent assets 259,527 268,473 Total assets $ 285,605 $ 283,366 Current liabilities $ 22,740 $ 23,034 Long term liabilities 89,364 67,598 Shareholders' equity 173,501 192,734 Total liabilities and equity $ 285,605 $ 283,366
Equity in Income or Loss of AMAK Reflected on Consolidated Statement of Operation	The equity in the income or loss of AMAK reflected on the consolidated statements of income for the years ended December 31, 2015, 2014, and 2013, is comprised of the following: 2015 2014 2013 AMAK Net Income (Loss) $ (19,233 ) $ (6,863 ) $ 9,521 Zakat tax applicable to Saudi Arabian shareholders only 303 - - AMAK Net Income (Loss) before Saudi Arabian shareholders' portion of Zakat $ (18,930 ) $ (6,863 ) $ 9,521 Company's share of earnings (loss) reported by AMAK (35.25%) $ (6,672 ) $ (2,419 ) $ 3,356 Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK 1,347 1,347 1,347 Equity in earnings (loss) of AMAK $ (5,325 ) $ (1,072 ) $ 4,703

LONG-TERM DEBT AND LONG-TERM 43

LONG-TERM DEBT AND LONG-TERM OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
LONG-TERM DEBT AND LONG-TERM OBLIGATIONS [Abstract]
Long-Term Debt And Long-Term Obligations	Long-term debt and long-term obligations at December 31 are summarized as follows: 2015 2014 (thousands of dollars) Revolving note to domestic banks (A) 1,000 7,200 Term note to domestic banks (B) 61,250 68,250 Term note to domestic banks (C) 20,000 5,000 Total long-term debt 82,250 80,450 Less current portion 8,333 7,000 Total long-term debt, less current portion $ 73,917 $ 73,450 (A) On October 1, 2014, TOCCO, SHR, GSPL and TC (SHR, GSPL and TC collectively the "Guarantors") entered into an Amended and Restated Credit Agreement ("ARC Agreement") with the lenders which from time to time are parties to the ARC Agreement (collectively, the "Lenders") and Bank of America, N.A., a national banking association, as Administrative Agent for the Lenders, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Lead Arranger. Subject to the terms and conditions of the ARC Agreement, TOCCO may (a) borrow, repay and re-borrow revolving loans (collectively, the "Revolving Loans") from time to time during the period ending September 30, 2019, up to but not exceeding at any one time outstanding $40.0 million (the "Revolving Loan Commitment") and (b) request up to $5.0 million of letters of credit and $5.0 million of swingline loans. Each of the issuance of letters of credit and the advance of swingline loans shall be considered usage of the Revolving Loan Commitment. All outstanding loans under the Revolving Loans must be repaid on October 1, 2019. As of December 31, 2015, TOCCO had borrowed funds under the Revolving Loans aggregating $1.0 million with $39.0 million available to be drawn. (B) Under the ARC Agreement, TOCCO also borrowed $70.0 million in a single advance term loan (the "Acquisition Term Loan") to partially finance the Acquisition. (C) Under the ARC Agreement, TOCCO also has the right to borrow $25.0 million in a multiple advance loan (the "Term Loans," together with the Revolving Loans and Acquisition Term Loan, collectively the "Loans"). Borrowing availability under the Term Loans ended on December 31, 2015. The Term Loans convert from a multiple advance loan to a "mini-perm" loan once TOCCO has fulfilled certain obligations such as certification that construction of D-Train was completed in a good and workmanlike manner, receipt of applicable permits and releases from governmental authorities, and receipt of releases of liens from the contractor and each subcontractor and supplier. The Loans also include a $40.0 million uncommitted increase option (the "Accordion Option"). As of December 31, 2015, TOCCO had borrowed funds under the agreement aggregating $20.0 million with $0.0 million available to be drawn due to the expiration of the borrowing availability.
Principal Payments Of Long-Term Debt	Principal payments of long-term debt for the next five years and thereafter ending December 31 are as follows: Year Ending December 31, Long-Term Debt (thousands of dollars) 2016 $ 8,333 2017 8,333 2018 8,334 2019 57,250 Total $ 82,250

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
ACCRUED LIABILITIES [Abstract]
Accrued Liabilities	Accrued liabilities at December 31 are summarized as follows: 2015 2014 (thousands of dollars) Accrued state taxes $ 325 $ 317 Accrued payroll 1,293 1,708 Accrued interest 34 36 Accrued officers' compensation 1,254 1,600 Other liabilities 1,156 1,359 Total $ 4,062 $ 5,020

ACCRUED LIABILITIES IN SAUDI 45

ACCRUED LIABILITIES IN SAUDI ARABIA (Tables)	12 Months Ended
	Dec. 31, 2015
ACCRUED LIABILITIES IN SAUDI ARABIA [Abstract]
Accrued Liabilities in Saudi Arabia	The following liabilities represent amounts owed to the former CEO who retired in 2009. Accrued liabilities in Saudi Arabia at December 31 are summarized as follows: 2015 2014 (thousands of dollars) Termination benefits $ - $ - Lawsuit settlement - 495 Other liabilities - - Total $ - $ 495

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
Future Minimum Property and Equipment Lease Payments under the Non-cancelable Operating Leases	Future minimum property and equipment lease payments under the non-cancelable operating leases at December 31, 2015, are as follows: Year Ending December 31, Long-Term Debt (thousands of dollars) 2016 $ 3,309 2017 2,540 2018 2,127 2019 1,976 2020 1,829 Thereafter 2,065 Total $ 13,846

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
SHARE-BASED COMPENSATION [Abstract]
Restricted Stock Activity	A summary of the status of the Company's restricted stock activity in 2015 is as follows: Shares of Restricted Stock Weighted Average Grant Date Price per Share Outstanding at January 1, 2015 - $ - Granted 167,040 14.15 Vested (19,000 ) 14.22 Outstanding at December 31, 2015 148,040 $ 14.14 Expected to vest 148,040
Black-Scholes Option Valuation Assumptions	The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions: Expected volatility 84 % Expected dividends None Expected term (in years) 6.25 Risk free interest rate 1.95 % The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions: Expected volatility 85 % Expected dividends None Expected term (in years) 6.25 Risk free interest rate 1.33 % The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions: Expected volatility 87 % Expected dividends None Expected term (in years) 6.5 Risk free interest rate 0.92 % The fair value of the 2011 options granted was calculated using the Black-Scholes option valuation model with the following range of assumptions: Expected volatility 96% to 413% Expected dividends None Expected term (in years) 5-10 Risk free interest rate 1.26% to 3.34% The fair value of the 2010 options granted was calculated using the Black-Scholes option valuation model with the following range of assumptions: Expected volatility 338% to 467% Expected dividends None Expected term (in years) 5-10 Risk free interest rate 2.37% to 3.68%
Summary of Status of Stock Option Awards	A summary of the status of the Company's stock option and warrant awards is presented below: Stock Options and Warrants Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Intrinsic Value (in thousands) Outstanding at December 31, 2014 1,598,191 $ 7.16 Granted - - Expired - - Exercised (221,754 ) 3.94 Forfeited - - Outstanding at December 31, 2015 1,376,437 $ 7.68 6.1 $ 6,483 Expected to vest 522,500 $ 10.63 7.8 $ 920 Exercisable at December 31, 2015 653,937 $ 6.63 5.6 $ 3,767
Summary of Status of Non-Vested Options	A summary of the status of the Company's non-vested options that are expected to vest is presented below: Shares Weighted Average Grant-Date Fair Value Per Share Non-vested at January 1, 2015 825,250 $ 9.59 Granted - - Forfeited - - Vested (325,250 ) 7.79 Non-vested at December 31, 2015 500,000 $ 10.76

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES [Abstract]
Provision for Income Taxes	The provision for income taxes consisted of the following: Year ended December 31, 2015 2014 2013 (thousands of dollars) Current federal provision $ 4,062 $ 8,756 $ 6,748 Current state provision 285 296 233 Deferred federal provision (benefit) 5,367 (1,893 ) 1,173 Deferred state provision (benefit) 50 (12 ) (7 ) Income tax expense $ 9,764 $ 7,147 $ 8,147
Difference between Effective Tax Rate in Income Tax Expense and Federal Statutory Rate	The difference between the effective tax rate in income tax expense and the Federal statutory rate of 35% for the years ended December 31, 2015, 2014, and 2013, is as follows: 2015 2014 2013 (thousands of dollars) Income taxes at U.S. statutory rate $ 9,927 $ 7,952 $ 9,675 State taxes, net of federal benefit 230 181 139 Permanent and other items (393 ) (915 ) (644 ) Increase (decrease) in valuation allowance - (71 ) (1,023 ) Total tax expense $ 9,764 $ 7,147 $ 8,147
Tax Effects of Temporary Differences that Give Rise to Significant Portions of Federal and State Deferred Tax Assets and Deferred Tax Liabilities	Tax effects of temporary differences that give rise to significant portions of federal and state deferred tax assets and deferred tax liabilities were as follows: December 31, 2015 2014 (thousands of dollars) Deferred tax liabilities: Plant, pipeline and equipment $ (14,996 ) $ (8,352 ) Intangible assets (284 ) - Other assets (14 ) - Investment in AMAK ( 2,522 ) ( 4,382 ) Total deferred tax liabilities $ (17,816 ) $ (12,734 ) Deferred tax assets: Accounts receivable 283 276 Inventory 1,785 1,018 Mineral interests 376 376 Unrealized loss on swap agreements 62 196 Post-retirement benefits 330 327 Stock-based compensation 969 1,705 Intangible assets - 229 Deferred revenue - 164 Gross deferred tax assets 3,805 4,291 Valuation allowance (376 ) (376 ) Total net deferred tax assets $ 3,429 $ 3,915 Net deferred tax liabilities $ (14,387 ) $ (8,819 )
Current and Non-Current Classifications of Deferred Tax Balances	The current and non-current classifications of the deferred tax balances are as follows: 2015 2014 (thousands of dollars) Current: Deferred tax asset $ 2,116 $ 1,652 Non-current: Deferred tax assets 4,637 3,269 Deferred tax liability (20,764 ) (13,364 ) Valuation allowance (376 ) (376 ) Non-current deferred tax liability, net (16,503 ) (10,471 ) Total deferred liabilities, net $ (14,387 ) $ (8,819 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
SEGMENT INFORMATION [Abstract]
Segment Information	The table below reflects full year 2015. Year Ended December 31, 2015 Petrochemical Specialty Wax Corporate Consolidated (in thousands) Net revenues $ 218,233 $ 23,743 $ - $ 241,976 Operating profit before depreciation and amortization 47,565 4,549 (7,013 ) 45,101 Operating profit (loss) 43,081 (1 ) (7,039 ) 36,041 Depreciation and amortization 4,484 4,550 26 9,060 Capital expenditures 24,358 6,889 - 31,247 Year Ended December 31, 2015 Petrochemical Specialty Wax Corporate Eliminations Consolidated (in thousands) Goodwill and intangible assets, net $ - $ 46,347 $ - $ - $ 46,347 Total assets 196,378 86,076 98,728 (122,371 ) 258,811 The table below reflects only fourth quarter 2014 transactions for TC since that is the time period affected by segment reporting. Year Ended December 31, 2014 Petrochemical Specialty Wax Corporate Consolidated (in thousands) Net revenues $ 284,345 $ 5,298 $ - $ 289,643 Operating profit before depreciation and amortization 37,083 16 (6,412 ) 30,687 Operating profit (loss) 33,019 (1,125 ) (6,412 ) 25,482 Depreciation and amortization 4,064 1,612 - 5,676 Capital expenditures 13,986 780 - 14,766 Year Ended December 31, 2014 Petrochemical Specialty Wax Corporate Eliminations Consolidated (in thousands) Goodwill and intangible assets, net $ - $ 47,985 $ - $ - $ 47,985 Total assets 172,945 79,135 99,360 (119,366 ) 232,074

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
NET INCOME PER COMMON SHARE [Abstract]
Net Income Per Common Share	Year ended December 31, 2015 2014 2013 (thousands of dollars) Net income $ 18,598 $ 15,571 $ 19,498 Basic earnings per common share: Weighted average shares outstanding 24,370 24,188 24,115 Per share amount (dollars) $ 0.76 $ 0.64 $ 0.81 Diluted earnings per common share: Weighted average shares outstanding 25,181 24,896 24,745 Per share amount (dollars) $ 0.74 $ 0.63 $ 0.79 Weighted average shares-denominator basic computation 24,370 24,188 24,115 Unvested restricted stock grant 141 - - Effect of dilutive stock options 670 708 630 Weighted average shares, as adjusted denominator diluted computation 25,181 24,896 24,745

QUARTERLY RESULTS OF OPERATIO51

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2015
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) [Abstract]
Quarterly Results of Operations	The quarterly results of operations shown below are derived from unaudited financial statements for the eight quarters ended December 31, 2015 (in thousands, except per share data): Year Ended December 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Total Revenues $ 55,143 $ 59,350 $ 66,938 $ 60,545 $ 241,976 Gross profit 15,713 15,184 16,625 11,847 59,369 Net income 5,784 6,374 5,318 1,122 18,598 Basic EPS $ 0.24 $ 0.26 $ 0.21 $ 0.05 $ 0.76 Diluted EPS $ 0.23 $ 0.25 $ 0.21 $ 0.05 $ 0.74 Year Ended December 31, 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Total Revenues $ 64,100 $ 74,553 $ 76,917 $ 74,073 $ 289,643 Gross profit 8,714 11,700 13,044 12,285 45,743 Net income 2,599 5,000 5,774 2,198 15,571 Basic EPS $ 0.11 $ 0.20 $ 0.24 $ 0.09 $ 0.64 Diluted EPS $ 0.11 $ 0.20 $ 0.23 $ 0.09 $ 0.63

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
DERIVATIVE INSTRUMENTS [Abstract]
Realized and Unrealized Gains on Derivatives	The following tables detail (in thousands) the impact the feedstock and natural gas instruments had on the financial statements: December 31, 2015 2014 2013 Realized gain (loss) $ (180 ) $ (452 ) $ 40 Unrealized gain (loss) 180 (132 ) (48 ) Net loss $ - $ (584 ) $ (8 )
Impact of Interest Rate Swap on Other Comprehensive Loss	The following tables detail (in thousands) the impact the agreement had on the financial statements: December 31, 2015 2014 2013 Accumulated Other Comprehensive Income (Loss) Cumulative loss $ - $ - $ (563 ) Deferred tax benefit - - 197 Net cumulative loss $ - $ - $ (366 ) Interest expense reclassified from other comprehensive income (loss) $ - $ 378 $ 301
Commodity Financial Instruments [Member]
Derivative [Line Items]
Fair Value of Derivative Liabilities	December 31, 2015 2014 Fair value of derivative liability $ - $ 180
Interest Rate Swaps [Member]
Derivative [Line Items]
Fair Value of Derivative Liabilities	December 31, 2015 2014 Fair value of derivative liability $ 177 $ 378

BUSINESS AND OPERATIONS OF TH53

BUSINESS AND OPERATIONS OF THE COMPANY (Details)	Dec. 31, 2015
AMAK [Member]
Noncontrolling Interest [Line Items]
Percentage of ownership	35.00%
Pioche Ely Valley Mines, Inc. ("PEVM") [Member]
Noncontrolling Interest [Line Items]
Percentage of ownership	55.00%

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015USD ($)SAR / $	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Accounts Receivable and Allowance for Doubtful Accounts [Abstract]
Increase in allowance for doubtful accounts	$ 0	$ 0	$ 0
Accounts receivable written off	$ 0	$ 0	0
Accounts, Notes, Loans and Financing Receivable [Line Items]
Imputed interest rates on outstanding notes	4.00%	4.00%
Retirement plan [Abstract]
Percentage contribution by employer in relation to employee contribution to fund	100.00%
Employer matching contribution	6.00%
Vesting period under 401(k) plan	7 years
Matching contribution by employer	$ 1,116,000	$ 641,000	554,000
Other Liabilities [Abstract]
Reduction in depreciation expense due to amortization of capitalize liability	$ 972,000	1,649,000	$ 1,284,000
Foreign Currency [Abstract]
Exchange rate | SAR / $	3.75
Income Taxes [Abstract]
Accrued interest related to uncertain tax positions	$ 0	$ 0

ACQUISITION OF TRECORA CHEMIC55

ACQUISITION OF TRECORA CHEMICAL, INC. (formerly SSI Chusei, Inc.) (Details) - USD ($)	Oct. 01, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 02, 2014
Business Acquisition [Line Items]
Sales		$ 60,545,000	$ 66,938,000	$ 59,350,000	$ 55,143,000	$ 74,073,000	$ 76,917,000	$ 74,553,000	$ 64,100,000	$ 241,976,000	$ 289,643,000	$ 236,227,000
Operating income										36,041,000	25,482,000	19,970,000
Purchase Price Allocation [Abstract]
Goodwill		21,798,000				$ 21,750,000				21,798,000	21,750,000
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member]
Business Acquisition [Line Items]
Existing cash balance	$ 4,702,000
Sales											5,300,000
Operating income											1,100,000
Acquisition cost related general and administrative expense											1,000,000
Consideration Paid [Abstract]
Cash paid at closing	2,902,000
Cash paid for working capital adjustment	1,916,000
Debt	70,000,000
Total purchase consideration	$ 74,818,000
Purchase Price Allocation [Abstract]
Purchase Price													$ 74,818,000
Cash													107,000
Trade receivables													2,821,000
Inventories													3,339,000
Prepaid expenses and other assets													743,000
Plant, pipeline and equipment													23,973,000
Other intangible assets		26,706,000								26,706,000			26,706,000
Accounts payable													(1,074,000)
Accrued liabilities													(1,121,000)
Other liabilities													(1,759,000)
Long-term debt, net of current portion													(667,000)
Net assets and liabilities (Excluding goodwill)													53,068,000
Goodwill													21,750,000
Identifiable Intangible Assets [Abstract]
Total		$ 26,706,000								$ 26,706,000			$ 26,706,000
Weighted average amortization period	12 years 6 months
Unaudited Pro forma Information [Abstract]
Sales											308,966,000	259,348,000
Net Income											$ 16,623,000	$ 20,223,000
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member] | Trade Name [Member]
Identifiable Intangible Assets [Abstract]
Indefinite-lived Intangible Assets Acquired	$ 2,158,000
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member] | Customer Relationships [Member]
Identifiable Intangible Assets [Abstract]
Finite-lived Intangible Assets Acquired	$ 16,852,000
Weighted average amortization period	15 years
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member] | Non-compete Agreements [Member]
Identifiable Intangible Assets [Abstract]
Finite-lived Intangible Assets Acquired	$ 94,000
Weighted average amortization period	5 years
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member] | Licenses and Permits [Member]
Identifiable Intangible Assets [Abstract]
Finite-lived Intangible Assets Acquired	$ 1,471,000
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member] | Developed Technology [Member]
Identifiable Intangible Assets [Abstract]
Finite-lived Intangible Assets Acquired	$ 6,131,000
Weighted average amortization period	10 years
Trecora Chemical Inc (Formerly SSI Chusei, Inc) [Member] | Common Class A [Member]
Business Acquisition [Line Items]
Percentage of common stock acquired													100.00%

CONCENTRATIONS OF REVENUES AN56

CONCENTRATIONS OF REVENUES AND CREDIT RISK (Details)	12 Months Ended
	Dec. 31, 2015USD ($)CustomerSupplier	Dec. 31, 2014USD ($)CustomerSupplier	Dec. 31, 2013CustomerSupplier
Concentration Risk [Line Items]
Accounts receivable	$ 19,474,000	$ 28,271,000
Number of major supplier | Supplier	1	1	1
Amount owed to supplier for feedstock purchases	$ 2,500,000	$ 1,000,000
Cash insured by the Federal Deposit Insurance Corporation	$ 250,000
Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%	100.00%	99.00%
Sales [Member]
Concentration Risk [Line Items]
Number of major customer | Customer	2	2	2
Sales [Member] | Revenue Concentration Risk [Member] | Major Customer One [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	20.10%	23.20%	16.50%
Sales [Member] | Revenue Concentration Risk [Member] | Major Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		10.50%	16.20%
Sales [Member] | Foreign Jurisdiction Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	27.90%	30.50%	26.20%
Accounts Receivable [Member] | Major Customer One [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 7,600,000	$ 9,500,000
Accounts Receivable [Member] | Major Customer Two [Member]
Concentration Risk [Line Items]
Accounts receivable		$ 1,600,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2008
FAIR VALUE MEASUREMENTS [Abstract]
Term loan secured by plant, pipeline and equipment			$ 10,000
Unrealized loss associated with the swap	$ 378	$ 378
Recurring [Member]
Liabilities [Abstract]
Interest rate swap	177	378
Commodity financial instruments		180
Recurring [Member] | Level 1 [Member]
Liabilities [Abstract]
Interest rate swap	0	0
Commodity financial instruments		180
Recurring [Member] | Level 2 [Member]
Liabilities [Abstract]
Interest rate swap	177	378
Recurring [Member] | Level 3 [Member]
Liabilities [Abstract]
Interest rate swap	$ 0	$ 0

TRADE RECEIVABLES (Details)

TRADE RECEIVABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
TRADE RECEIVABLES [Abstract]
Trade receivables	$ 19,684	$ 28,481
Less allowance for doubtful accounts	(210)	(210)
Trade receivables, net	$ 19,474	$ 28,271

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
INVENTORIES [Abstract]
Raw material	$ 2,905	$ 2,826
Work in process	56	49
Finished products	12,843	9,940
Total inventory	15,804	12,815
Excess of current cost over LIFO value	0	0
Products in transit	$ 2,700	$ 3,500

PLANT, PIPELINE AND EQUIPMENT60

PLANT, PIPELINE AND EQUIPMENT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	$ 143,471,000	$ 113,130,000
Less accumulated depreciation	(46,564,000)	(39,319,000)
PLANT, PIPELINE, AND EQUIPMENT, NET (Note 8)	96,907,000	73,811,000
Interest capitalized for construction	141,000
Amortization relating to the platinum catalyst	84,269	84,269	$ 38,232
Platinum Catalyst [Member]
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	1,612,000	1,612,000
Land [Member]
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	4,577,000	4,577,000
Plant, Pipeline and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	128,302,000	95,351,000
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	$ 8,980,000	$ 11,590,000

GOODWILL AND INTANGIBLE ASSET61

GOODWILL AND INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Beginning balance	$ 21,750
Adjustment	48
Ending balance	21,798
Intangible assets subject to amortization [Abstract]
Gross	24,548	$ 24,548
Accumulated Amortization	(2,354)	(471)
Net	22,194	24,077
Intangible assets not subject to amortization [Abstract]
Gross	26,903	26,706
Accumulated Amortization	2,354	471
Net	24,549	26,235
Estimated amortization expense for succeeding five fiscal years [Abstract]
2,016	1,874
2,017	1,861
2,018	1,860
2,019	1,853
2,020	1,842
Total	9,290
Emissions Allowance [Member]
Intangible assets not subject to amortization [Abstract]
Gross	197
Accumulated Amortization	0
Net	197
Trade Names [Member]
Intangible assets not subject to amortization [Abstract]
Gross	2,158	2,158
Accumulated Amortization	0	0
Net	2,158	2,158
Customer relationships [Member]
Intangible assets subject to amortization [Abstract]
Gross	16,852	16,852
Accumulated Amortization	(1,404)	(281)
Net	15,448	16,571
Non-compete agreements [Member]
Intangible assets subject to amortization [Abstract]
Gross	94	94
Accumulated Amortization	(24)	(5)
Net	70	89
Licenses and permits [Member]
Intangible assets subject to amortization [Abstract]
Gross	1,471	1,471
Accumulated Amortization	(160)	(32)
Net	1,311	1,439
Developed technology [Member]
Intangible assets subject to amortization [Abstract]
Gross	6,131	6,131
Accumulated Amortization	(766)	(153)
Net	$ 5,365	$ 5,978

INVESTMENT IN AL MASANE AL KO62

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY (AMAK) (Details)	1 Months Ended	12 Months Ended
	Jan. 31, 2013USD ($)$ / sharesshares	Dec. 31, 2015USD ($)SAR / $	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012	May. 27, 2013	Jan. 31, 2013SAR / sharesshares
Investment in Al Masane Al Kobra Mining Company Amak [Line Items]
Exchange rate | SAR / $		3.75
Equity in Income or Loss of AMAK Reflected on Consolidated Statement Of Operation [Abstract]
Equity in earnings (loss) of AMAK		$ (5,325,000)	$ (1,072,000)	$ 4,703,000
AMAK [Member]
Investment in Al Masane Al Kobra Mining Company Amak [Line Items]
Investment in AMAK		$ 47,700,000	53,000,000
Exchange rate | SAR / $		3.75
Results of Operations [Abstract]
Sales		$ 50,744,000	63,300,000	104,990,000
Gross profit		(10,437,000)	3,624,000	21,881,000
General, administrative and other expenses		8,796,000	10,487,000	12,360,000
Net income (loss)		(19,233,000)	(6,863,000)	9,521,000
Depreciation and amortization expense		23,200,000	23,700,000	24,400,000
Net Income Loss Before Depreciation and Amortization		4,016,000	16,845,000	33,878,000
Financial Position [Abstract]
Current assets		26,078,000	14,893,000
Noncurrent assets		259,527,000	268,473,000
Total assets		285,605,000	283,366,000
Current liabilities		22,740,000	23,034,000
Long term liabilities		89,364,000	67,598,000
Shareholders' equity		173,501,000	192,734,000
Total liabilities and equity		285,605,000	283,366,000
Equity in Income or Loss of AMAK Reflected on Consolidated Statement Of Operation [Abstract]
AMAK Net Income (Loss)		(19,233,000)	(6,863,000)	9,521,000
Zakat tax applicable to Saudi Arabian shareholders only		303,000	0	0
AMAK Net Income (Loss) before Saudi Arabian shareholders' portion of Zakat		(18,930,000)	(6,863,000)	9,521,000
Company's share of earnings (loss) reported by AMAK (35.25%)		(6,672,000)	(2,419,000)	3,356,000
Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK		1,347,000	1,347,000	1,347,000
Equity in earnings (loss) of AMAK		(5,325,000)	(1,072,000)	4,703,000
Gain upon formation of AMAK		$ 16,200,000
Percentage interest acquire by other investors in AMAK					10.00%
Shares purchased under equity method investments (in shares) | shares	937,500						937,500
Share price (in dollars per share) | (per share)	$ 8						SAR 30
Payments to acquire equity method investments	$ 7,500,000
Percentage investment in AMAK		35.25%				35.00%
Increase in the entity's share in net assets of AMAK				4,000,000
Impairment charges on investment in AMAK		$ 0	$ 0	$ 0

MINERAL PROPERTIES IN THE UNI63

MINERAL PROPERTIES IN THE UNITED STATES (Details)	12 Months Ended
	Dec. 31, 2015aClaimT	Aug. 31, 2001Claim
MINERAL PROPERTIES IN THE UNITED STATES [Abstract]
Number of patented mining claims in which PEVM has undivided interest	48
Number of unpatented mining claims in which PEVM has undivided interest	5
Area under patented and unpatented mining claims | a	1,500
Allocated mining capacity per day | T	300
Unpatented claims abandoned		75
Period when the property is unused due to lack of capital	35 years

LONG-TERM DEBT AND LONG-TERM 64

LONG-TERM DEBT AND LONG-TERM OBLIGATIONS (Details) - USD ($)		Oct. 01, 2014	Dec. 31, 2015		Dec. 31, 2014
Long-term debt [Abstract]
Total long-term debt			$ 82,250,000	[1]	$ 80,450,000
Less current portion			8,333,000		7,000,000
Total long-term debt, less current portion			73,917,000		73,450,000
Principal payments of long-term debt [Abstract]
2,016			8,333,000
2,017			8,333,000
2,018			8,334,000
2,019			57,250,000
Total			$ 82,250,000	[1]	80,450,000
Eurodollar Rate [Member]
Long-term debt [Abstract]
Outstanding loans repaid percentage			100.00%
TOCCO [Member]
Long-term debt [Abstract]
Interest rate description		The Loans will accrue interest at the lower of (i) a London interbank offered rate (“Eurodollar Rate”) plus a margin of between 2.00% and 2.50% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis, or (ii) a base rate (“Base Rate”) equal to the highest of the federal funds rate plus 0.50%, the rate announced by Bank of America, N.A. as its prime rate, and Eurodollar Rate plus 1.0%, plus a margin of between 1.00% to 1.50% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis.
Basis spread on variable rate			2.42%
TOCCO [Member] | LIBOR [Member] | Minimum [Member]
Long-term debt [Abstract]
Basis spread on variable rate		2.00%
TOCCO [Member] | LIBOR [Member] | Maximum [Member]
Long-term debt [Abstract]
Basis spread on variable rate		2.50%
TOCCO [Member] | Federal Fund Rate [Member]
Long-term debt [Abstract]
Basis spread on variable rate		0.50%
TOCCO [Member] | Eurodollar Rate [Member]
Long-term debt [Abstract]
Basis spread on variable rate		1.00%
TOCCO [Member] | Base Rate [Member] | Minimum [Member]
Long-term debt [Abstract]
Basis spread on variable rate		1.00%
TOCCO [Member] | Base Rate [Member] | Maximum [Member]
Long-term debt [Abstract]
Basis spread on variable rate		1.50%
Revolving Note [Member]
Long-term debt [Abstract]
Total long-term debt	[2]		$ 1,000,000		7,200,000
Amortization period for principal on acquisition term loan		15 years
Maximum total leverage ratio		3.25
Minimum fixed charge coverage ratio		1.25
Asset coverage test, minimum		1.1
Principal payments of long-term debt [Abstract]
Total	[2]		$ 1,000,000		7,200,000
Revolving Note [Member] | TOCCO [Member] | Minimum [Member]
Long-term debt [Abstract]
Commitment fee		0.25%
Revolving Note [Member] | TOCCO [Member] | Maximum [Member]
Long-term debt [Abstract]
Commitment fee		0.375%
Revolving Note One [Member]
Long-term debt [Abstract]
Loan expiration date			Oct. 1, 2019
Maximum borrowing capacity			$ 40,000,000
Borrowed funds under the agreement			1,000,000
Available remaining borrowing capacity			39,000,000
Letter of Credit [Member]
Long-term debt [Abstract]
Maximum borrowing capacity			5,000,000
Swing Line Loans [Member]
Long-term debt [Abstract]
Maximum borrowing capacity			5,000,000
Term Note [Member]
Long-term debt [Abstract]
Total long-term debt	[1]		61,250,000		68,250,000
Amortization period for principal on acquisition term loan		10 years
Quarterly installment amount of acquisition term loan		$ 1,750,000	333,333
Principal payments of long-term debt [Abstract]
Total	[1]		61,250,000		68,250,000
Term Note One [Member]
Long-term debt [Abstract]
Total long-term debt	[3]		20,000,000		5,000,000
Principal payments of long-term debt [Abstract]
Total	[3]		20,000,000		$ 5,000,000
Term Note Two [Member]
Long-term debt [Abstract]
Borrowed funds under the agreement			20,000,000
Available remaining borrowing capacity			0
Amount of multiple advance loan can be borrowed			25,000,000
Amount of uncommitted increase option			$ 40,000,000
Maturity date			Dec. 31, 2015
Acquisition Term Loan [Member]
Long-term debt [Abstract]
Total long-term debt			$ 70,000,000
Principal payments of long-term debt [Abstract]
Total			$ 70,000,000
[1]	Under the ARC Agreement, TOSCO also borrowed $70.0 million in a single advance term loan (the "Acquisition Term Loan") to partially finance the Acquisition.
[2]	On October 1, 2014, TOCCO, SHR, GSPL and TC (SHR, GSPL and TC collectively the "Guarantors") entered into an Amended and Restated Credit Agreement ("ARC Agreement") with the lenders which from time to time are parties to the ARC Agreement (collectively, the "Lenders") and Bank of America, N.A., a national banking association, as Administrative Agent for the Lenders, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Lead Arranger. Subject to the terms and conditions of the ARC Agreement, TOCCO may (a) borrow, repay and re-borrow revolving loans (collectively, the "Revolving Loans") from time to time during the period ending September 30, 2019, up to but not exceeding at any one time outstanding $40.0 million (the "Revolving Loan Commitment") and (b) request up to $5.0 million of letters of credit and $5.0 million of swing line loans. Each of the issuance of letters of credit and the advance of swing line loans shall be considered usage of the Revolving Loan Commitment. All outstanding loans under the Revolving Loans must be repaid on October 1, 2019. As of December 31, 2015, TOCCO had borrowed funds under the Revolving Loans aggregating $1.0 million with $39.0 million available to be drawn.
[3]	Under the ARC Agreement, TOCCO also has the right to borrow $25.0 million in a multiple advance loan (the "Term Loans," together with the Revolving Loans and Acquisition Term Loan, collectively the "Loans"). Borrowing availability under the Term Loans ended on December 31, 2015. The Term Loans convert from a multiple advance loan to a "mini-perm" loan once TOCCO has fulfilled certain obligations such as certification that construction of D-Train was completed in a good and workmanlike manner, receipt of applicable permits and releases from governmental authorities, and receipt of releases of liens from the contractor and each subcontractor and supplier. The Loans also include a $40.0 million uncommitted increase option (the "Accordion Option"). As of December 31, 2015, TOCCO had borrowed funds under the agreement aggregating $20.0 million with $0.0 million available to be drawn due to the expiration of the borrowing availability.

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Abstract]
Accrued state taxes	$ 325	$ 317
Accrued payroll	1,293	1,708
Accrued interest	34	36
Accrued officers' compensation	1,254	1,600
Other liabilities	1,156	1,359
Total	$ 4,062	$ 5,020

ACCRUED LIABILITIES IN SAUDI 66

ACCRUED LIABILITIES IN SAUDI ARABIA (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ACCRUED LIABILITIES IN SAUDI ARABIA [Abstract]
Termination benefits	$ 0	$ 0
Lawsuit settlement	0	495
Other liabilities	0	0
Total	$ 0	$ 495

COMMITMENTS AND CONTINGENCIES67

COMMITMENTS AND CONTINGENCIES (Details) SAR in Millions	12 Months Ended
	Dec. 31, 2015USD ($)DefendantRailcar	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015SARRailcar	Dec. 31, 2014SAR	Oct. 24, 2010USD ($)	Oct. 24, 2010SAR
Guarantor Obligations [Line Items]
Amount of maximum exposure	$ 82,700,000	$ 69,300,000		SAR 310	SAR 259.8
Site Contingency [Line Items]
Expenses for environmental monitoring, compliance, and improvements	604,000	414,000	$ 386,000
Operating Leases, Future Minimum Payments Receivable [Abstract]
2,016	3,309,000
2,017	2,540,000
2,018	2,127,000
2,019	1,976,000
2,020	1,829,000
Thereafter	2,065,000
Total	13,846,000
Operating Leased Assets [Line Items]
Operating lease, rental expense	$ 4,200,000	$ 2,500,000	$ 1,800,000
Railcars [Member]
Operating Leased Assets [Line Items]
Number Of Railcars | Railcar	350			350
Operating lease expiration date	Dec. 31, 2026
Total commitments under operating leases	$ 13,600,000
Operating Lease Period	11 years
Office Space in Sugar Land, TX [Member]
Operating Leased Assets [Line Items]
Operating lease expiration date	Dec. 31, 2018
Total commitments under operating leases	$ 200,000
Threatened Litigation [Member] | Exposure to Asbestos [Member]
Loss Contingencies [Line Items]
Number of defendants | Defendant	44
Pending Litigation [Member]
Loss Contingencies [Line Items]
Accrued recorded value	$ 1,000,000
Saudi Industrial Development Fund Limited Guarantee [Member]
Guarantor Obligations [Line Items]
Loan guarantee, maximum						41.00%	41.00%
Principal amount of loan guaranteed						$ 88,000,000	SAR 330
Amount of maximum exposure						$ 36,100,000	SAR 135.3

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details)

May. 20, 2015$ / sharesshares

Apr. 14, 2015Employee$ / sharesshares

Feb. 12, 2015$ / sharesshares

Feb. 10, 2015$ / sharesshares

Feb. 21, 2014USD ($)$ / sharesshares

May. 29, 2013USD ($)$ / sharesshares

Nov. 15, 2012USD ($)$ / sharesshares

Sep. 25, 2011$ / sharesshares

May. 20, 2011$ / sharesshares

May. 02, 2011$ / sharesshares

Jan. 12, 2011USD ($)$ / sharesshares

Feb. 28, 2010USD ($)

Feb. 23, 2010$ / shares

Jul. 31, 2009Option$ / sharesshares

Oct. 31, 2014USD ($)shares

Feb. 28, 2010shares

Dec. 31, 2015USD ($)$ / sharesshares

Dec. 31, 2014USD ($)$ / sharesshares

Dec. 31, 2013USD ($)$ / shares

Dec. 31, 2012USD ($)

Dec. 31, 2015USD ($)$ / sharesshares

May. 08, 2013shares

Feb. 01, 2013$ / sharesshares

Oct. 23, 2008shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 2,353,000

$ 2,141,000

$ 1,215,000

Warrants and Rights Note Disclosure [Abstract]

Common stock, issued (in shares)

100,000

Strike price (in dollars per share) | $ / shares

$ 10

Warrant term

5 years

Vesting percentage

50.00%

Vesting of warrant in year one, description

equal increments of 1/12th each calendar month throughout the first year

Vesting of warrant thereafter, description

equal increments of 1/36th each calendar month over years 2 through 4 contingent upon continuous investor relations service under the consulting agreement

Investor relations expense | $

$ 79,000

180,000

Warrant [Member]

Weighted Average Grant Date Price per Share [Abstract]

Number of shares of common stock issued (in shares)

0

Restricted Stock [Member]

Shares of Restricted Stock [Roll Forward]

Outstanding at beginning of period (in shares)

0

Granted (in shares)

167,040

Vested (in shares)

(19,000)

Outstanding at end of period (in shares)

148,040

0

Expected to vest (in shares)

148,040

148,040

Weighted Average Grant Date Price per Share [Abstract]

Outstanding at beginning of period (in dollars per share) | $ / shares

$ 0

Granted (in dollars per share) | $ / shares

14.15

Vested (in dollars per share) | $ / shares

14.22

Outstanding at end of period (in dollars per share) | $ / shares

$ 14.14

$ 0

Unrecognized compensation cost related to non-vested share-based compensation | $

$ 1,700,000

Weighted average recognition period

3 years 3 months 18 days

Stock Options [Roll Forward]

Expected to vest, end of period (in shares)

148,040

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 1,645,000

$ 2,063,000

$ 1,214,000

Shares of Restricted Stock [Roll Forward]

Expected to vest (in shares)

522,500

522,500

Weighted Average Grant Date Price per Share [Abstract]

Unrecognized compensation cost related to non-vested share-based compensation | $

$ 2,900,000

Weighted average recognition period

2 years

Number of shares of common stock issued (in shares)

0

Number of shares register under stock option plans (in shares)

1,500,000

1,000,000

Exercise price (in dollars per share) | $ / shares

$ 0

Aggregate options outstanding (in shares)

1,598,191

1,598,191

1,376,437

Stock Options [Roll Forward]

Outstanding at beginning of period (in shares)

1,598,191

Granted (in shares)

0

Expired (in shares)

0

Exercised (in shares)

(221,754)

Forfeited (in shares)

0

Outstanding at end of period (in shares)

1,376,437

1,598,191

Expected to vest, end of period (in shares)

522,500

Exercisable, end of period (in shares)

653,937

Weighted Average Exercise Price Per Share [Roll Forward]

Outstanding at beginning of period (in dollars per share) | $ / shares

$ 7.16

Granted (in dollars per share) | $ / shares

0

Expired (in dollars per share) | $ / shares

0

Exercised (in dollars per share) | $ / shares

3.94

Forfeited (in dollars per share) | $ / shares

0

Outstanding at end of period (in dollars per share) | $ / shares

7.68

$ 7.16

Expected to vest, end of period (in dollars of period) | $ / shares

$ 10.63

Exercisable, end of period (in dollars per share) | $ / shares

$ 6.63

Weighted Average Remaining Contractual Life [Abstract]

Outstanding, weighted average remaining contractual life

6 years 1 month 6 days

Expected to vest, weighted average remaining contractual life

7 years 9 months 18 days

Exercisable, weighted average remaining contractual life

5 years 7 months 6 days

Intrinsic Value [Abstract]

Outstanding, Intrinsic value | $

$ 6,483,000

Expected to vest, Intrinsic value | $

920,000

Exercisable, Intrinsic value | $

$ 3,767,000

Options and warrants shares to purchase in the money (in shares)

1,400,000

Weighted average grant date fair value of options (in dollars per share) | $ / shares

$ 0

$ 12.26

$ 7.71

Aggregate intrinsic value of options exercised | $

$ 2,300,000

$ 1,600,000

$ 142,000

Cash received upon exercise of options | $

$ 123,000

$ 91,000

$ 60,000

Shares [Rollforward]

Non-vested, beginning of period (in shares)

825,250

Granted (in shares)

0

Forfeited (in shares)

0

Vested (in shares)

(325,250)

Non-vested, end of period (in shares)

500,000

825,250

Weighted Average Grant-Date Fair Value Per Share [Rollforward]

Non-vested, at beginning of period (in dollars per share) | $ / shares

$ 9.59

Granted (in dollars per share) | $ / shares

0

$ 12.26

$ 7.71

Forfeited (in dollars per share) | $ / shares

0

Vested (in dollars per share) | $ / shares

7.79

Non-vested, end of period (in dollars per share) | $ / shares

$ 10.76

$ 9.59

Fair value of options vested in period | $

$ 1,496,000

Director [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 43,000

Shares of Restricted Stock [Roll Forward]

Granted (in shares)

30,000

Weighted Average Grant Date Price per Share [Abstract]

Granted (in dollars per share) | $ / shares

$ 12.39

Vesting percentage

20.00%

Vesting period

5 years

Employees [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 12,000

Shares of Restricted Stock [Roll Forward]

Granted (in shares)

1,000

Weighted Average Grant Date Price per Share [Abstract]

Granted (in dollars per share) | $ / shares

$ 12.03

Number of employees | Employee

2

Years with the company

30 years

Officer and Key Employees [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 395,000

Shares of Restricted Stock [Roll Forward]

Granted (in shares)

118,040

Weighted Average Grant Date Price per Share [Abstract]

Granted (in dollars per share) | $ / shares

$ 14.59

Vesting percentage

25.00%

Vesting period

4 years

Executive Vice President [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 79,310

Weighted Average Grant Date Price per Share [Abstract]

Number of shares of common stock issued (in shares)

7,000

Non-Employee Director [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 9,000

66,000

$ 113,000

Weighted Average Grant Date Price per Share [Abstract]

Exercise price (in dollars per share) | $ / shares

$ 2.82

Vesting period

5 years

Expected dividends | $

$ 0

Stock Options [Roll Forward]

Granted (in shares)

500,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 2.82

Shares [Rollforward]

Granted (in shares)

500,000

Non-Employee Director [Member] | Stock Options [Member] | Minimum [Member]

Weighted Average Grant Date Price per Share [Abstract]

Expected volatility

338.00%

Expected term (in years)

5 years

Risk free interest rate

2.37%

Non-Employee Director [Member] | Stock Options [Member] | Maximum [Member]

Weighted Average Grant Date Price per Share [Abstract]

Expected volatility

467.00%

Expected term (in years)

10 years

Risk free interest rate

3.68%

Director Joseph Palm [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

0

0

0

Weighted Average Grant Date Price per Share [Abstract]

Options awarded, term

10 years

10 years

Exercise price (in dollars per share) | $ / shares

$ 3.52

$ 3.90

Vesting period

4 years 8 months 1 day

1 year

Aggregate options outstanding (in shares)

100,000

Share lots vesting (in shares)

20,000

Stock Options [Roll Forward]

Granted (in shares)

80,000

19,333

Outstanding at end of period (in shares)

100,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 3.52

$ 3.90

Shares [Rollforward]

Granted (in shares)

80,000

19,333

Director Joseph Palm [Member] | Stock Options [Member] | Stock Options Issued on September 25, 2011 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

65,000

65,000

65,000

Director John Townsend [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

80,000

80,000

80,000

Weighted Average Grant Date Price per Share [Abstract]

Options awarded, term

10 years

Exercise price (in dollars per share) | $ / shares

$ 4.09

Vesting percentage

20.00%

Vesting period

5 years

Stock Options [Roll Forward]

Granted (in shares)

100,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 4.09

Shares [Rollforward]

Granted (in shares)

100,000

Key Employees [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

40,000

475,000

475,000

Weighted Average Grant Date Price per Share [Abstract]

Options awarded, term

10 years

Exercise price (in dollars per share) | $ / shares

$ 4.86

Vesting percentage

25.00%

Vesting period

4 years

Expected dividends | $

$ 0

Stock Options [Roll Forward]

Granted (in shares)

391,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 4.86

Shares [Rollforward]

Granted (in shares)

391,000

Key Employees [Member] | Stock Options [Member] | Minimum [Member]

Weighted Average Grant Date Price per Share [Abstract]

Expected volatility

96.00%

Expected term (in years)

5 years

Risk free interest rate

1.26%

Key Employees [Member] | Stock Options [Member] | Maximum [Member]

Weighted Average Grant Date Price per Share [Abstract]

Expected volatility

413.00%

Expected term (in years)

10 years

Risk free interest rate

3.34%

Director Gary Adams [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

120,000

120,000

120,000

Weighted Average Grant Date Price per Share [Abstract]

Options awarded, term

10 years

Exercise price (in dollars per share) | $ / shares

$ 7.14

Vesting percentage

20.00%

Vesting period

5 years

Expected volatility

87.00%

Expected dividends | $

$ 0

Expected term (in years)

6 years 6 months

Risk free interest rate

0.92%

Stock Options [Roll Forward]

Granted (in shares)

100,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 7.14

Shares [Rollforward]

Granted (in shares)

100,000

Mr. Hatem El Khalidi [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

97,000

97,000

97,000

Weighted Average Grant Date Price per Share [Abstract]

Number of options awarded | Option

2

Compensation expense reversed | $

$ 413,000

Stock Options [Roll Forward]

Granted (in shares)

200,000

Intrinsic Value [Abstract]

Weighted average grant date fair value of options (in dollars per share) | $ / shares

$ 3.40

Shares [Rollforward]

Granted (in shares)

200,000

Weighted Average Grant-Date Fair Value Per Share [Rollforward]

Granted (in dollars per share) | $ / shares

$ 3.40

Simon Upfill-Brown [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

126,000

126,000

$ 84,000

Weighted Average Grant Date Price per Share [Abstract]

Options awarded, term

10 years

Exercise price (in dollars per share) | $ / shares

$ 7.71

Vesting percentage

25.00%

Vesting period

4 years

Expected volatility

85.00%

Expected dividends | $

$ 0

Expected term (in years)

6 years 3 months

Risk free interest rate

1.33%

Stock Options [Roll Forward]

Granted (in shares)

90,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 7.71

Shares [Rollforward]

Granted (in shares)

90,000

Various Employees [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

258,000

Shares of Restricted Stock [Roll Forward]

Granted (in shares)

18,000

Weighted Average Grant Date Price per Share [Abstract]

Granted (in dollars per share) | $ / shares

$ 14.34

Various Employees [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense | $

$ 1,108,000

$ 955,000

Weighted Average Grant Date Price per Share [Abstract]

Options awarded, term

10 years

Exercise price (in dollars per share) | $ / shares

$ 12.26

Vesting percentage

25.00%

Vesting period

4 years

Expected volatility

84.00%

Expected dividends | $

$ 0

Expected term (in years)

6 years 3 months

Risk free interest rate

1.95%

Stock Options [Roll Forward]

Granted (in shares)

500,000

Weighted Average Exercise Price Per Share [Roll Forward]

Granted (in dollars per share) | $ / shares

$ 12.26

Shares [Rollforward]

Granted (in shares)

500,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Provision for income taxes [Abstract]
Current federal provision	$ 4,062,000	$ 8,756,000	$ 6,748,000
Current state provision	285,000	296,000	233,000
Deferred federal provision (benefit)	5,367,000	(1,893,000)	1,173,000
Deferred state provision (benefit)	50,000	(12,000)	(7,000)
Income tax expense	$ 9,764,000	$ 7,147,000	$ 8,147,000
Federal statutory rate	35.00%	35.00%	35.00%
Effective tax rate in income tax expense and the Federal statutory rate [Abstract]
Income taxes at U.S. statutory rate	$ 9,927,000	$ 7,952,000	$ 9,675,000
State taxes, net of federal benefit	230,000	181,000	139,000
Permanent and other items	(393,000)	(915,000)	(644,000)
Increase (decrease) in valuation allowance	0	(71,000)	(1,023,000)
Income tax expense	9,764,000	7,147,000	8,147,000
Deferred tax liabilities [Abstract]
Plant, pipeline and equipment	(14,996,000)	(8,352,000)
Intangible assets	(284,000)	0
Other assets	(14,000)	0
Investment in AMAK	(2,522,000)	(4,382,000)
Total deferred tax liabilities	(17,816,000)	(12,734,000)
Deferred tax assets [Abstract]
Accounts receivable	283,000	276,000
Inventory	1,785,000	1,018,000
Mineral interests	376,000	376,000
Unrealized loss on swap agreements	62,000	196,000
Post-retirement benefits	330,000	327,000
Stock-based compensation	969,000	1,705,000
Intangible assets	0	229,000
Deferred revenue	0	164,000
Gross deferred tax assets	3,805,000	4,291,000
Valuation allowance	(376,000)	(376,000)
Total net deferred tax assets	3,429,000	3,915,000
Net deferred tax liabilities	(14,387,000)	(8,819,000)
Current [Abstract]
Deferred tax asset	2,116,000	1,652,000
Non-current [Abstract]
Deferred tax assets	4,637,000	3,269,000
Deferred tax liability	(20,764,000)	(13,364,000)
Valuation allowance	(376,000)	(376,000)
Non-current deferred tax liability, net	(16,503,000)	(10,471,000)
Net deferred tax liabilities	(14,387,000)	(8,819,000)
Decrease in valuation allowance		(71,000)	(1,023,000)
Income tax liability in Saudi Arabia	$ 0	$ 0	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)Segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Segment									2
Net revenues	$ 60,545	$ 66,938	$ 59,350	$ 55,143	$ 74,073	$ 76,917	$ 74,553	$ 64,100	$ 241,976	$ 289,643	$ 236,227
Operating profit before depreciation and amortization									45,101	30,687
Operating profit (loss)									36,041	25,482	$ 19,970
Depreciation and amortization									9,060	5,205
Capital expenditures									31,247	14,766
Goodwill and intangible assets, net	46,347				47,985				46,347	47,985
Total assets	258,811				232,074				258,811	232,074
Eliminations [Member]
Segment Reporting Information [Line Items]
Goodwill and intangible assets, net	0				0				0	0
Total assets	(122,371)				(119,366)				(122,371)	(119,366)
Corporate [Member]
Segment Reporting Information [Line Items]
Net revenues									0	0
Operating profit before depreciation and amortization									(7,013)	(6,412)
Operating profit (loss)									(7,039)	(6,412)
Depreciation and amortization									26	0
Goodwill and intangible assets, net	0				0				0	0
Total assets	98,728				99,360				98,728	99,360
Petrochemical [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues									218,233	284,345
Operating profit before depreciation and amortization									47,565	37,083
Operating profit (loss)									43,081	33,019
Depreciation and amortization									4,484	4,064
Capital expenditures									24,358	13,986
Goodwill and intangible assets, net	0				0				0	0
Total assets	196,378				172,945				196,378	172,945
Specialty Wax [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues									23,743	5,298
Operating profit before depreciation and amortization									4,549	16
Operating profit (loss)									(1)	(1,125)
Depreciation and amortization									4,550	1,141
Capital expenditures									6,889	780
Goodwill and intangible assets, net	46,347				47,985				46,347	47,985
Total assets	$ 86,076				$ 79,135				86,076	79,135
Specialty Wax [Member] | Corporate [Member]
Segment Reporting Information [Line Items]
Capital expenditures									$ 0	$ 0

NET INCOME PER COMMON SHARE (De

NET INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
NET INCOME PER COMMON SHARE [Abstract]
Net income									$ 18,598	$ 15,571	$ 19,498
Basic earnings per common share [Abstract]
Weighted average shares outstanding (in shares)									24,370,000	24,188,000	24,115,000
Per share amount (in dollars per share)	$ 0.05	$ 0.21	$ 0.26	$ 0.24	$ 0.09	$ 0.24	$ 0.20	$ 0.11	$ 0.76	$ 0.64	$ 0.81
Diluted earnings per common share [Abstract]
Weighted average shares outstanding (in shares)									25,181,000	24,896,000	24,745,000
Per share amount (in dollars per share)	$ 0.05	$ 0.21	$ 0.25	$ 0.23	$ 0.09	$ 0.23	$ 0.20	$ 0.11	$ 0.74	$ 0.63	$ 0.79
Weighted average shares-denominator basic computation (in shares)									24,370,000	24,188,000	24,115,000
Unvested restricted stock grant (in shares)									141,000	0	0
Effect of dilutive stock options (in shares)									670,000	708,000	630,000
Weighted average shares, as adjusted denominator diluted computation (in shares)									25,181,000	24,896,000	24,745,000
Potential common stock shares issuable upon exercise of options (in shares)									1,376,437	1,598,191	1,326,360
Treasury of TOCCO included in earnings per share calculation (in shares)									300,000	300,000	300,000

QUARTERLY RESULTS OF OPERATIO72

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly results of operations [Abstract]
Revenues	$ 60,545	$ 66,938	$ 59,350	$ 55,143	$ 74,073	$ 76,917	$ 74,553	$ 64,100	$ 241,976	$ 289,643	$ 236,227
Gross profit	11,847	16,625	15,184	15,713	12,285	13,044	11,700	8,714	59,369	45,743	35,163
Net income	$ 1,122	$ 5,318	$ 6,374	$ 5,784	$ 2,198	$ 5,774	$ 5,000	$ 2,599	$ 18,598	$ 15,571	$ 19,498
Basic EPS (in dollars per share)	$ 0.05	$ 0.21	$ 0.26	$ 0.24	$ 0.09	$ 0.24	$ 0.20	$ 0.11	$ 0.76	$ 0.64	$ 0.81
Diluted EPS (in dollars per share)	$ 0.05	$ 0.21	$ 0.25	$ 0.23	$ 0.09	$ 0.23	$ 0.20	$ 0.11	$ 0.74	$ 0.63	$ 0.79

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Director [Member]
Related Party Transaction [Line Items]
Consulting fees	$ 25,000	$ 52,000	$ 98,000

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
DERIVATIVE INSTRUMENTS [Abstract]
Feedstock and natural gas usage to operating expenses	69.30%	78.00%	80.60%
Derivatives, Fair Value [Line Items]
Unrealized gain (loss)	$ 381	$ (376)	$ (57)
Interest expense reclassified from other comprehensive income (loss)	0	378	301
Unrealized loss associated with the swap recognized in the Statement of Income	378	378
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Term loan in pay fixed, receive variable interest rate swap	10,000
Term loan secured by plant, pipeline and equipment	14,000
Notional amount	$ 2,750
Derivative, variable interest rate	5.83%
Cumulative loss	$ 0	0	(563)
Deferred tax benefit	0	0	197
Net cumulative loss	0	0	(366)
Interest expense reclassified from other comprehensive income (loss)	0	378	301
Fair value of derivative liability	177	378
Not Designated as Hedging Instrument [Member] | Commodity Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Realized gain (loss)	(180)	(452)	40
Unrealized gain (loss)	180	(132)	(48)
Net loss	0	(584)	$ (8)
Fair value of derivative liability	$ 0	$ 180

POST RETIREMENT OBLIGATIONS (De

POST RETIREMENT OBLIGATIONS (Details) - Postretirement Benefits [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2008
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly post retirement benefit	$ 6,000
Monthly post retirement benefit payable after death to spouse	4,000
Additional benefits accrued		$ 382,000
Outstanding liability	911,000
Retirement bonus outstanding	$ 31,500
Number of years service	42 years
Retirement bonus per service year	$ 750

VALUATION AND QUALIFYING ACCO76

VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for Deferred Tax Asset [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 376,037	$ 446,919	$ 1,470,034
Charged (credited) to earnings	0	(122,500)	(1,023,115)
Deductions	0	51,618	0
Ending balance	376,037	376,037	446,919
Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	210,000	210,000	210,000
Charged (credited) to earnings	0	0	0
Deductions	0	0	0
Ending balance	$ 210,000	$ 210,000	$ 210,000