Trecora Resources (TREC) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Entity Central Index Key	0000007039
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	1-33926
Entity Registrant Name	TRECORA RESOURCES
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-1256622
Entity Address, Address Line One	1650 Hwy 6 South
Entity Address, Address Line Two	Suite 190
Entity Address, Postal Zip Code	77478
Entity Address, City or Town	Sugar Land
Entity Address, State or Province	TX
City Area Code	(281)
Local Phone Number	980-5522
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	TREC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,714,980

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Cash	$ 29,877	$ 6,145
Trade receivables, net	20,240	26,320
Inventories	7,595	13,624
Investment in AMAK (held-for-sale)	29,175	32,872
Prepaid expenses and other assets	3,233	4,947
Taxes receivable	16,229	182
Total current assets	106,349	84,090
Plant, pipeline and equipment, net	189,237	188,919
Intangible assets, net	13,814	14,736
Lease right-of-use assets, net	11,915	13,512
Mineral properties in the United States	562	562
TOTAL ASSETS	321,877	301,819
Current Liabilities
Accounts payable	11,027	14,603
Accrued liabilities	7,801	5,740
Current portion of long-term debt	4,194	4,194
Current portion of lease liabilities	3,142	3,174
Current portion of other liabilities	955	924
Total current liabilities	27,119	28,635
Long-term debt, net of current portion	73,998	79,095
Post-retirement benefit, net of current portion	327	338
Lease liabilities, net of current portion	8,773	10,338
Other liabilities, net of current portion	512	595
Deferred income taxes	23,860	11,375
Total liabilities	140,712	130,376
EQUITY
Common stock‑authorized 40 million shares of $0.10 par value; issued and outstanding 24.8 million and 24.8 million in 2020 and 2019, respectively	2,482	2,475
Additional paid-in capital	60,386	59,530
Retained earnings	118,008	109,149
Total Trecora Resources Stockholders' Equity	180,876	171,154
Noncontrolling Interest	289	289
Total equity	181,165	171,443
TOTAL LIABILITIES AND EQUITY	321,877	301,819
CARES Act
Current Liabilities
Long-term debt, net of current portion	$ 6,123	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued (in shares)	24,800,000	24,800,000
Common stock, shares outstanding (in shares)	24,800,000	24,800,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES
REVENUES	$ 40,674	$ 69,371	$ 102,741	$ 134,526
OPERATING COSTS AND EXPENSES
Cost of sales and processing (including depreciation and amortization of $3,534, $4,128, $7,486 and $8,357, respectively)	34,507	58,806	88,496	113,888
GROSS PROFIT	6,167	10,565	14,245	20,638
GENERAL AND ADMINISTRATIVE EXPENSES
General and administrative	6,289	6,042	12,963	12,076
Depreciation	212	208	428	421
GENERAL AND ADMINISTRATIVE EXPENSES	6,501	6,250	13,391	12,497
OPERATING INCOME (LOSS)	(334)	4,315	854	8,141
OTHER INCOME (EXPENSE)
Interest income	0	0	0	5
Interest expense	(735)	(1,401)	(1,651)	(2,900)
Miscellaneous income, net	68	284	6	256
OTHER INCOME (EXPENSE)	(667)	(1,117)	(1,645)	(2,639)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(1,001)	3,198	(791)	5,502
INCOME TAX EXPENSE (BENEFIT)	858	691	(4,795)	1,185
INCOME (LOSS) FROM CONTINUING OPERATIONS	(1,859)	2,507	4,004	4,317
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX	(2)	(103)	4,855	(162)
NET INCOME (LOSS)	$ (1,861)	$ 2,404	$ 8,859	$ 4,155
Basic Earnings per Common Share
Net income from continuing operations (in dollars per share)	$ (0.07)	$ 0.10	$ 0.16	$ 0.17
Net income from discontinued operations, net of tax (in dollars per share)	0	0	0.20	(0.01)
Net income (in dollars per share)	$ (0.07)	$ 0.10	$ 0.36	$ 0.16
Basic weighted average number of common shares outstanding (in shares)	24,802	24,696	24,784	24,675
Diluted Earnings per Common Share
Net income from continuing operations (in dollars per share)	$ (0.07)	$ 0.10	$ 0.16	$ 0.17
Net income from discontinued operations, net of tax (in dollars per share)	0	0	0.19	(0.01)
Net income (in dollars per share)	$ (0.07)	$ 0.10	$ 0.35	$ 0.16
Diluted weighted average number of common shares outstanding (in shares)	24,802	25,091	25,360	25,089
Product sales
REVENUES
REVENUES	$ 36,707	$ 65,329	$ 93,890	$ 126,822
Processing fees
REVENUES
REVENUES	$ 3,967	$ 4,042	$ 8,851	$ 7,704

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
OPERATING COSTS AND EXPENSES
(including depreciation and amortization of $3,750, $4,128, $7,486 and $8,357, respectively)	$ 3,750	$ 4,128	$ 7,486	$ 8,357

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Total	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	TREASURY STOCK	RETAINED EARNINGS	TOTAL	NON-CONTROLLING INTEREST
Equity, beginning balance (in shares) at Dec. 31, 2018		24,626
Equity, beginning balance at Dec. 31, 2018	$ 185,161	$ 2,463	$ 58,294	$ (8)	$ 124,123	$ 184,872	$ 289
Restricted Stock Units
Issued to Directors	168		168			168
Issued to Employees	458		458			458
Common Stock
Issued to Directors (in shares)		10
Issued to Directors	7	$ 1		6		7
Issued to Employees (in shares)		79
Issued to Employees	8	$ 8	0			8
Net Income	4,155				4,155	4,155
Equity, ending balance (in shares) at Jun. 30, 2019		24,715
Equity, ending balance at Jun. 30, 2019	189,957	$ 2,472	58,920	(2)	128,278	189,668	289
Equity, beginning balance (in shares) at Mar. 31, 2019		24,687
Equity, beginning balance at Mar. 31, 2019	187,189	$ 2,469	58,565	(8)	125,874	186,900	289
Restricted Stock Units
Issued to Directors	146		146			146
Issued to Employees	209		209			209
Common Stock
Issued to Directors (in shares)		10
Issued to Directors		$ 1		6
Issued to Employees (in shares)		18
Issued to Employees	2	$ 2				2
Net Income	2,404				2,404	2,404
Equity, ending balance (in shares) at Jun. 30, 2019		24,715
Equity, ending balance at Jun. 30, 2019	$ 189,957	$ 2,472	58,920	(2)	128,278	189,668	289
Equity, beginning balance (in shares) at Dec. 31, 2019	24,800	24,750
Equity, beginning balance at Dec. 31, 2019	$ 171,443	$ 2,475	59,530	0	109,149	171,154	289
Restricted Stock Units
Issued to Directors	195		195			195
Issued to Employees	668		668			668
Common Stock
Issued to Directors (in shares)		28
Issued to Directors	0	$ 3	(3)			0
Issued to Employees (in shares)		39
Issued to Employees	0	$ 4	(4)			0
Net Income	$ 8,859				8,859	8,859
Equity, ending balance (in shares) at Jun. 30, 2020	24,800	24,817
Equity, ending balance at Jun. 30, 2020	$ 181,165	$ 2,482	60,386	0	118,008	180,876	289
Equity, beginning balance (in shares) at Mar. 31, 2020		24,780
Equity, beginning balance at Mar. 31, 2020	182,516	$ 2,478	59,880	0	119,869	182,227	289
Restricted Stock Units
Issued to Directors	101		101			101
Issued to Employees	409		409			409
Common Stock
Issued to Directors (in shares)		28
Issued to Directors		$ 3	(3)
Issued to Employees (in shares)		9
Issued to Employees	0	$ 1	(1)			0
Net Income	$ (1,861)				(1,861)	(1,861)
Equity, ending balance (in shares) at Jun. 30, 2020	24,800	24,817
Equity, ending balance at Jun. 30, 2020	$ 181,165	$ 2,482	$ 60,386	$ 0	$ 118,008	$ 180,876	$ 289

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
NET INCOME (LOSS)	$ 8,859	$ 4,155
Income (Loss) from Discontinued Operations	4,855	(162)
Income from Continuing Operations	4,004	4,317
Adjustments to Reconcile Income from Continuing Operations To Net Cash Provided by Operating Activities:
Depreciation and Amortization	6,993	7,880
Amortization of Intangible Assets	921	931
Stock-based Compensation	933	558
Deferred Income Taxes	11,109	978
Postretirement Obligation	5	(18)
Amortization of Loan Fees	91	91
Loss on Disposal of Assets	18	0
Changes in Operating Assets and Liabilities:
Decrease (Increase) in Trade Receivables	6,080	(3,393)
Decrease in Insurance Receivables	1,148	0
Increase in Taxes Receivable	(15,726)	0
Decrease in Inventories	6,029	1,244
Decrease in Prepaid Expenses and Other Assets	536	16
Decrease in Accounts Payable and Accrued Liabilities	(1,765)	(6,767)
Decrease in Other Liabilities	456	54
Net Cash Provided by Operating Activities - Continuing Operations	20,831	5,891
Net Cash Used in Operating Activities - Discontinued Operations	(276)	(43)
Net Cash Provided by Operating Activities	20,555	5,848
INVESTING ACTIVITIES
Additions to Plant, Pipeline and Equipment	(7,851)	(4,286)
Proceeds from PEVM	0	30
Net Cash Used in Investing Activities - Continuing Operations	(7,851)	(4,256)
Net Cash Provided by Investing Activities - Discontinued Operations	10,163	414
Net Cash Provided by (Used in) Investing Activities	2,312	(3,842)
FINANCING ACTIVITIES
Net Cash Paid Related to Stock-Based Compensation	(71)	(228)
Additions to CARES Act, PPP Loans	6,123	0
Additions to Long-Term Debt	20,000	2,000
Repayments of Long-Term Debt	(25,187)	(6,188)
Net Cash Provided by (Used in) Financing Activities - Continuing Operations	865	(4,416)
NET INCREASE (DECREASE) IN CASH	23,732	(2,410)
CASH AT BEGINNING OF PERIOD	6,145	6,735
CASH AT END OF PERIOD	29,877	4,325
Supplemental disclosure of cash flow information:
Cash payments for interest	1,560	1,355
Cash payments for taxes, net of refunds	0	80
Supplemental disclosure of non-cash items:
Capital expansion amortized to depreciation expense	521	244
Foreign taxes paid by AMAK	$ 0	$ 891

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL Organization Trecora Resources (the "Company" or "TREC") was incorporated in the State of Delaware in 1967. Our principal business activities are the manufacturing of various specialty hydrocarbons and specialty waxes and the provision of custom processing services. Unless the context requires otherwise, references to "we," "us," "our," "TREC," and the "Company" are intended to mean Trecora Resources and its subsidiaries. This document includes the following abbreviations: (1) TOCCO – Texas Oil & Chemical Co. II, Inc. – Wholly owned subsidiary of TREC and parent of SHR and TC (2) SHR – South Hampton Resources, Inc. – Specialty Petrochemicals segment and parent of GSPL (3) GSPL – Gulf State Pipe Line Co, Inc. – Pipeline support for the Specialty Petrochemicals segment (4) TC – Trecora Chemical, Inc. – Specialty Waxes segment (5) AMAK – Al Masane Al Kobra Mining Company – Held-for-sale mining equity investment – 28.3% ownership (6) PEVM – Pioche Ely Valley Mines, Inc. – Inactive mine – 55% ownership Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these unaudited financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the financial statements and related notes contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 . The unaudited condensed consolidated financial statements included in this document have been prepared on the same basis as the annual financial statements and in management's opinion reflect all adjustments, including normal recurring adjustments, necessary to present fairly the Company's financial position, results of operations and cash flows for the interim periods presented. We have made estimates and judgments affecting the amounts reported in this document. The actual results that we experience may differ materially from our estimates. In the opinion of management, the disclosures included in these financial statements are adequate to make the information presented not misleading. Operating results for the six months ended June 30, 2020 are not necessarily indicative of results for the year ending December 31, 2020 . We currently operate in two segments, Specialty Petrochemicals and Specialty Waxes. All revenue originates from sources in the United States, and all long-lived assets owned are located in the United States. In addition, we own a 28.3% interest in AMAK, a Saudi Arabian closed joint stock company, which owns, operates and is developing mining assets in Saudi Arabia. Our investment is classified as held-for-sale and and the equity in earnings (losses) are recorded in discontinued operations. See Note 5.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements Effective January 1, 2020, we adopted Financial Accounting Standard Board ("FASB") Accounting Standards Update ("ASU") 2016-13, Measurement of Credit Losses on Financial Instruments, which changed the way entities recognize impairment of most financial assets. Short-term and long-term financial assets, as defined by the standard, are impacted by immediate recognition of estimated credit losses in the financial statements, reflecting the net amount expected to be collected. The adoption of this standard did not have a material impact on our condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for us in the first quarter of 2021 on a prospective basis, and early adoption is permitted. We are currently evaluating the impact of the new guidance on our condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020–04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04), which provides guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying generally accepted accounting principles to contracts, hedging relationships, and other transactions impacted by reference rate reform. The provisions of ASU 2020-04 apply only to those transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2022. We are currently evaluating the impact of ASU 2020-04 on our condensed consolidated financial statements.

TRADE RECEIVABLES

TRADE RECEIVABLES	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
TRADE RECEIVABLES	TRADE RECEIVABLES Trade receivables, net, consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) Trade receivables $ 20,668 $ 26,749 Less allowance for doubtful accounts (428 ) (429 ) Trade receivables, net $ 20,240 $ 26,320 Trade receivables serve as collateral for our amended and restated credit agreement. See Note 11.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories included the following: June 30, 2020 December 31, 2019 (thousands of dollars) Raw material $ 738 $ 2,100 Work in process 244 142 Finished products 6,613 11,382 Total inventory $ 7,595 $ 13,624 Inventory serves as collateral for our amended and restated credit agreement. See Note 11. Inventory included Specialty Petrochemicals products in transit valued at approximately $1.4 million and $2.9 million at June 30, 2020 and December 31, 2019 , respectively.

INVESTMENT IN AMAK (Held-for-Sa

INVESTMENT IN AMAK (Held-for-Sale)	6 Months Ended
	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN AMAK (Held-for-Sale)	INVESTMENT IN AMAK (Held-for-Sale) As of June 30, 2020 and December 31, 2019 , the Company had a non-controlling equity interest of 28.3% and 33.3% in AMAK of approximately $29.2 million and $32.9 million , respectively. This investment is accounted for under the equity method. There were no events or changes in circumstances that had an adverse effect on the fair value of our investment in AMAK at June 30, 2020 . The Company committed to a plan to sell our investment in AMAK during the third quarter of 2019. Management engaged in a comprehensive process to market the investment to numerous potential buyers. The process resulted in an agreement with certain AMAK stockholders in September 2019 to purchase our investment. Pursuant to a Share Sale and Purchase Agreement (as amended, the "Purchase Agreement") that was effective as of October 2, 2019 , the Company agreed to sell its entire equity interest in AMAK, to AMAK and certain other existing stockholders of AMAK (collectively, the "Purchasers") for an aggregate gross purchase price (before taxes and transaction expenses) of Saudi Riyals ("SAR") 264.7 million (or approximately US$70 million ), which will be payable in US Dollars (collectively, the "Share Sale"). The Purchasers advanced 5% of the purchase price (or approximately $3.5 million ) in the form of a non-refundable deposit, which was a condition to the effectiveness of the Purchase Agreement. The Purchase Agreement contained various representations, warranties and indemnity obligations of the Company and the Purchasers, including the release of the Company's guarantee as described in Note 12. On January 16, 2020 , the Company and the Purchasers entered into a letter agreement (the “January 2020 Amendment”) providing certain amendments to the Purchase Agreement. Pursuant to the January 2020 Amendment, the Long Stop Date (as defined in the Purchase Agreement) for completion of the Share Sale was extended to March 31, 2020 to allow additional time for the parties to obtain certain required governmental approvals. Under the Purchase Agreement, the Company had certain termination rights if closing of the Share Sale did not occur on or before the Long Stop Date. The January 2020 Amendment also provided that, if closing of the Share Sale does not occur on or before the extended Long Stop Date, and the Company determined in its sole discretion to further extend such date, then an amount equal to 50% of the approximately $3.5 million non-refundable deposit made by the Purchasers under the Purchase Agreement would be forfeited to the Company as liquidated damages and would not be applied to the purchase price at closing of the Share Sale. Effective as of March 26, 2020, the Company and the Purchasers entered into a letter agreement, dated March 23, 2020 (the “March 2020 Amendment”), providing for certain additional amendments to the Purchase Agreement. Pursuant to the March 2020 Amendment, the Company and the Purchasers agreed that the Share Sale may be completed with the respective Purchasers in multiple closings, in each case, subject to the completion of any remaining conditions precedent. To the extent that a Purchaser completed the purchase of all or a portion of the ordinary shares allotted to it under the Purchase Agreement on or before March 31, 2020, the non-refundable deposit paid by such Purchaser (or a portion of such deposit for a partial closing) was credited toward the purchase price of the ordinary shares being purchased. Purchasers that complete the purchase of all or a portion of their allotted ordinary shares after March 31, 2020 but on or before September 28, 2020 (the “New Long Stop Date”), will forfeit an amount equal to 50% of the non-refundable deposit paid by such Purchasers to the Company as liquidated damages and such amount shall not be applied to the purchase price paid by the applicable Purchaser. With respect to any Purchaser that has not completed the purchase of 100% of its allocated ordinary shares on or prior to the New Long Stop Date, (i) any remaining amount of non-refundable deposit paid by such Purchaser will be forfeited to the Company as liquidated damages as of September 29, 2020 and (ii) the Company may terminate the Purchase Agreement in accordance with its terms unless the Company elects, in its sole discretion, to further extend the New Long Stop Date. On March 26, 2020, the Company and one Purchaser, Arab Mining Company, completed the first closing of the Share Sale (the “First Closing”). In connection with the First Closing, the Company sold 4,000,000 ordinary shares for an aggregate gross purchase price (before taxes and transaction expenses) of SAR 40 million (or approximately US$10.7 million ) (inclusive of the credited amount of the Purchaser’s non-refundable deposit previously paid of US$0.5 million ). The First Closing also included indemnification provisions which effectively reduced our portion of the loan guarantee (as discussed in Note 12). We recorded a foreign tax payable of approximately $0.3 million related to this transaction. Upon payment, this amount will be a foreign tax credit used to offset U.S. taxes. Pursuant to the March 2020 Amendment, the remaining Purchasers have agreed to use their best efforts to close the purchase of 100% of their respective allotments of ordinary shares as soon as possible. The March 2020 Amendment also provides that the Company will continue to have the right to appoint three directors of the board of directors of AMAK, and will enjoy all other governance rights it currently has, until the Share Sale has been completed in full. As no other transactions closed through March 31, 2020, approximately $1.5 million of the initial deposits were forfeited to the Company as liquidated damages and will not be applied to the purchase price at closing. This amount was recorded as an increase to our investment in AMAK and a gain on sale of equity interest in discontinued operations. As all the required criteria for held-for-sale classification was met in third quarter of 2019, the investment in AMAK is classified as held-for-sale in the Consolidated Balance Sheets and reflected as discontinued operations in the Consolidated Statements of Operations for all periods presented. The assets held-for-sale are disclosed by the Company in the Corporate segment. The Company expects to have no continuing involvement with the discontinued operations after the closing date. The gain (loss) from discontinued operations, net of tax, includes our portion of the equity in earnings (losses) in AMAK, forfeited deposits, other administrative expenses incurred in Saudi Arabia and transaction costs. Included in discontinued operations are the following: Three Months Ended June 30, Six Months Ended 2020 2019 2020 2019 (thousands of dollars) (thousands of dollars) Saudi administration (income) expenses $ (97 ) $ 39 $ (114 ) $ 55 Equity in (earnings) losses of AMAK (306 ) 91 226 150 Gain on sale of equity interest — — (6,663 ) — (Income) loss from discontinued operations before taxes (403 ) 130 (6,551 ) 205 Tax expense (benefit) 405 (27 ) 1,696 (43 ) (Income) loss from discontinued operations (net of tax) $ 2 $ 103 $ (4,855 ) $ 162 AMAK's financial statements were prepared in the functional currency of AMAK which is the SAR. In June 1986 the SAR was officially pegged to the U. S. Dollar at a fixed exchange rate of 1 USD to 3.75 SAR. The summarized results of operation and financial position for AMAK are as follows: Results of Operations Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (thousands of dollars) (thousands of dollars) Sales $ 20,752 $ 20,566 $ 38,689 $ 41,230 Cost of sales 17,829 18,162 34,650 36,732 Gross profit 2,923 2,404 4,039 4,498 Selling, general, and administrative 2,362 2,807 5,042 5,545 Operating income (loss) 561 (403 ) (1,003 ) (1,047 ) Other income (expense) — (75 ) 17 353 Finance and interest expense (103 ) (448 ) (634 ) (893 ) Income (loss) before Zakat and income taxes 458 (926 ) (1,620 ) (1,587 ) Zakat and income taxes 566 366 1,099 888 Net Loss $ (108 ) $ (1,292 ) $ (2,719 ) $ (2,475 ) Financial Position June 30, December 31, 2020 2019 (thousands of dollars) Current assets $ 41,193 $ 45,354 Noncurrent assets 200,828 196,564 Total assets $ 242,021 $ 241,918 Current liabilities $ 23,307 $ 27,645 Long term liabilities 86,508 79,348 Stockholders' equity 132,206 134,925 $ 242,021 $ 241,918 Changes in Ownership • In the first quarter of 2020, we completed a portion of the Share Sale to an existing shareholder of AMAK. We sold 4 million shares of AMAK, thereby reducing our ownership percentage from 33.3% to 28.3% . As this transaction occurred at the end of the first quarter, our portion of the equity in earnings/losses of AMAK reflected for the first quarter of 2020 is calculated at 33.3% , whereas our ownership of balance sheet accounts is reflected at 28.3% as of March 31, 2020 . • In the second quarter of 2019, certain shareholders of AMAK transferred a portion of their shares to the CEO of AMAK as a one-time retention and performance bonus. The Company transferred 100,000 shares and the transaction reduced our ownership percentage from 33.4% to 33.3% . The equity in the earnings (losses) of AMAK included in income (loss) from discontinued operations, net of tax, on the consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 , is comprised of the following: Three Months Ended Six Months Ended 2020 2019 2020 2019 (thousands of dollars) (thousands of dollars) AMAK Net Loss (108 ) (1,292 ) (2,719 ) (2,475 ) Percentage of Ownership 28.3 % 33.3 % 33.1 % * 33.3 % Company's share of loss reported by AMAK (31 ) (429 ) (900 ) (824 ) Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK 337 337 674 674 Equity in earnings (losses) of AMAK 306 (92 ) (226 ) (150 ) * Percentage of Ownership varies during the period. For additional information, see NOTE 6, "INVESTMENT IN AMAK AND DISCONTINUED OPERATIONS" to the consolidated financial statements set forth in our Annual Report on Form 10–K for the year ended December 31, 2019.

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	6 Months Ended
	Jun. 30, 2020
Prepaid Expense and Other Assets, Current [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other assets consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) Prepaid license $ 806 $ 1,209 Spare parts 2,049 1,857 Insurance receivable — 1,148 Other prepaid expenses and assets 378 733 Total prepaid expenses and other assets $ 3,233 $ 4,947

PLANT, PIPELINE AND EQUIPMENT

PLANT, PIPELINE AND EQUIPMENT	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
PLANT, PIPELINE AND EQUIPMENT	PLANT, PIPELINE AND EQUIPMENT Plant, pipeline and equipment consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) Platinum catalyst metal $ 1,580 $ 1,580 Catalyst 4,325 4,095 Land 5,428 5,428 Plant, pipeline and equipment 264,839 258,651 Construction in progress 6,359 5,052 Total plant, pipeline and equipment $ 282,531 $ 274,806 Less accumulated depreciation (93,294 ) (85,887 ) Net plant, pipeline and equipment $ 189,237 $ 188,919 Plant, pipeline, and equipment serve as collateral for our amended and restated credit agreement. See Note 11. Construction in progress during the first six months of 2020 included Advanced Reformer unit improvements and pipeline maintenance at SHR and equipment modifications at TC. Construction in progress during the first six months of 2019 included equipment purchased for various equipment updates at the TC facility, the Advanced Reformer unit, tankage upgrades, and an addition to the rail spur at SHR. Amortization relating to the catalyst, which is included in cost of sales, was approximately $0.2 million and $0.2 million for the three months and $0.4 million and $0.5 million for the six months ended June 30, 2020 and 2019 , respectively.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
LEASES	LEASES The Company leases certain rail cars, rail equipment, office space and office equipment. The Company determines if a contract is a lease at the inception of the arrangement. The Company reviews all options to extend, terminate, or purchase its right-of-use assets at the inception of the lease and accounts for these options when they are reasonably certain of being exercised. Leases with an initial term of 12 months or less are not recorded on the Condensed Consolidated Balance Sheets. Lease expense for these leases is recognized on a straight-line basis over the lease term. The Company has no finance leases. The components of lease expense were as follows: ($ in thousands) Classification in the Condensed Consolidated Statements of Income Three Months Ended Six Months Ended 2020 2019 2020 2019 Operating lease cost (a) Cost of sales, exclusive of depreciation and amortization $ 987 $ 1,152 $ 1,922 $ 2,291 Operating lease cost (a) Selling, general and administrative 34 38 68 72 Total lease cost $ 1,021 $ 1,190 $ 1,990 $ 2,363 (a) Short-term lease costs were approximately $0.1 million and $0.1 million for the three months ended June 30, 2020 and 2019, respectively. Short-term lease costs were approximately $0.1 million and $0.1 million for the six months ended June 30, 2020 and 2019, respectively. The Company had no variable lease expense, as defined by ASC 842, during the periods. ($ in thousands) Classification on the Condensed Consolidated Balance Sheets June 30, 2020 December 31, 2019 Assets: Operating Operating lease assets $ 11,915 $ 13,512 Total leased assets $ 11,915 $ 13,512 Liabilities: Current: Operating Current portion of operating lease liabilities $ 3,142 $ 3,174 Noncurrent: Operating Operating lease liabilities 8,773 10,338 Total lease liabilities $ 11,915 $ 13,512 Three Months Ended Six Months Ended ($ in thousands) 2020 2019 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 933 $ 1,122 $ 1,881 $ 3,385 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — $ — $ — $ 138 June 30, 2020 Weighted-average remaining lease term (in years): Operating leases 4.1 Weighted-average discount rate: Operating leases 4.5 % Nearly all of the Company’s lease contracts do not provide a readily determinable implicit rate. For these contracts, the Company’s estimated incremental borrowing rate is based on information available at the inception of the lease. As of June 30, 2020 , maturities of lease liabilities were as follows: ($ in thousands) Operating Leases 2020 $ 1,824 2021 3,540 2022 3,218 2023 2,329 2024 1,026 Thereafter 1,082 Total lease payments $ 13,019 Less: Interest 1,104 Total lease obligations $ 11,915

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET Intangible assets were recorded in relation to the acquisition of TC on October 1, 2014. The following tables summarize the gross carrying amounts and accumulated amortization of intangible assets by major class: June 30, 2020 Gross Accumulated Amortization Net (thousands of dollars) Customer relationships $ 16,852 $ (6,460 ) $ 10,392 Non-compete agreements 94 (94 ) — Licenses and permits 1,471 (654 ) 817 Developed technology 6,131 (3,526 ) 2,605 Total $ 24,548 $ (10,734 ) $ 13,814 December 31, 2019 Gross Accumulated Amortization Net (thousands of dollars) Customer relationships $ 16,852 $ (5,898 ) $ 10,954 Non-compete agreements 94 (94 ) — Licenses and permits 1,471 (601 ) 870 Developed technology 6,131 (3,219 ) 2,912 Total $ 24,548 $ (9,812 ) $ 14,736 Amortization expense for intangible assets included in cost of sales was approximately $0.5 million and $0.5 million for the three months and approximately $0.9 million and $0.9 million for the six months ended June 30, 2020 and 2019 , respectively. Based on identified intangible assets that are subject to amortization as of June 30, 2020 , we expect future amortization expenses for each period to be as follows: Total Remainder of 2020 2021 2022 2023 2024 2025 Thereafter (thousands of dollars) Customer relationships $ 10,392 $ 562 $ 1,123 $ 1,123 1,123 1,123 1,123 $ 4,215 Licenses and permits 817 53 101 86 86 86 86 319 Developed technology 2,605 306 613 613 613 460 — — Total future amortization expense $ 13,814 $ 921 $ 1,837 $ 1,822 $ 1,822 $ 1,669 $ 1,209 $ 4,534

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2020
Accrued Liabilities [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES Accrued liabilities consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) State taxes $ 297 $ 215 Property taxes 1,811 — Payroll 1,789 1,250 Royalties 544 273 Officer compensation 674 1,687 Legal 161 212 Foreign taxes 320 — AMAK transaction costs 1,000 1,000 Other 1,205 1,103 Total $ 7,801 $ 5,740

LIABILITIES AND LONG-TERM DEBT

LIABILITIES AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
LIABILITIES AND LONG-TERM DEBT	LIABILITIES AND LONG-TERM DEBT Senior Secured Credit Facilities As of June 30, 2020 , we had nil in borrowings outstanding under the revolving credit facility (the "Revolving Facility") of our amended and restated credit agreement (as amended to the date hereof, the "ARC Agreement") and approximately $78.2 million in borrowings outstanding under the term loan facility of the ARC Agreement (the "Term Loan Facility" and, together with the Revolving Facility, the "Credit Facilities"). In addition, we had approximately $27 million of availability under our Revolving Facility at June 30, 2020 . TOCCO’s ability to make additional borrowings under the Revolving Facility at June 30, 2020 was limited by, and in the future may be limited by, our obligation to maintain compliance with the covenants contained in the ARC Agreement (including maintenance of a maximum Consolidated Leverage Ratio and minimum Consolidated Fixed Charge Coverage Ratio (each as defined in the ARC Agreement)). On May 8, 2020, TOCCO, SHR, GSPL and TC entered into a Seventh Amendment to the ARC Agreement. Pursuant to the Seventh Amendment, certain amendments were made to the terms of the ARC Agreement, including, among other things, to (a) permit the incurrence of additional indebtedness in the form of loans (the "PPP Loans") under the United States Small Business Administration Paycheck Protection Program (the "PPP") and (b) exclude the PPP Loans from the calculation of the Consolidated Leverage Ratio until such time that any portion of the PPP Loans are not forgiven in accordance with the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). For each fiscal quarter after December 31, 2019, TOCCO must maintain a maximum Consolidated Leverage Ratio of 3.50 to 1.00 (subject to temporary increase following certain acquisitions). TOCCO's Consolidated Leverage Ratio was 2.62 and 2.91 as of June 30, 2020 and March 31, 2020 , respectively. Additionally, TOCCO must maintain a minimum Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of 1.15 to 1.00 . TOCCO's Consolidated Fixed Charge Coverage Ratio was 1.98 and 2.21 as of June 30, 2020 and December 31, 2019 , respectively. As noted above, the Consolidated Leverage Ratio specifically excludes the PPP Loans until such time that any portion of the PPP Loans are not forgiven in accordance with the CARES Act. The maturity date for the ARC Agreement is July 31, 2023. As of June 30, 2020 , the effective interest rate for the Credit Facilities was 2.52% . The ARC Agreement contains a number of customary affirmative and negative covenants and we were in compliance with those covenants as of June 30, 2020 . For a summary of additional terms of the Credit Facilities, see NOTE 13, “LONG-TERM DEBT AND LONG-TERM OBLIGATIONS" to the consolidated financial statements set forth in our Annual Report on Form 10-K for the year ended December 31, 2019. PPP Loans On May 6, 2020 , SHR and TC (collectively, the “Borrowers") received loan proceeds from the PPP Loans in an aggregate principal amount of approximately $6.1 million under the PPP. The PPP Loans are evidenced by unsecured promissory notes each payable to Bank of America, N.A. The Borrowers plan to use the PPP Loans to cover payroll costs and certain other eligible expenses in accordance with the relevant terms and conditions of the CARES Act. The PPP Loans mature on May 6, 2022 , and bear interest at a stated rate of 1.0% per annum. The PPP Loans may be partially or fully forgiven if the Borrowers comply with the provisions of the CARES Act. Debt Issuance Costs Debt issuance costs of approximately $0.9 million were incurred in connection with the fourth amendment to the ARC Agreement. Unamortized debt issuance costs of approximately $0.6 million and $0.6 million for the periods ended June 30, 2020 and December 31, 2019 , have been netted against outstanding loan balances. Long-term debt and long-term obligations are summarized as follows: June 30, 2020 December 31, 2019 (thousands of dollars) Revolving Facility — 3,000 Term Loan Facility 78,750 80,938 Loan fees (558 ) (649 ) Total long-term debt 78,192 83,289 Less current portion including loan fees 4,194 4,194 Total long-term debt, less current portion including loan fees 73,998 79,095

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES COVID-19 The global outbreak of COVID-19 presents various global risks. The full impact of the outbreak continues to evolve as of the date of this report. The COVID-19 pandemic has had an impact on our business, results of operations, financial position and liquidity for the second quarter of 2020. In the second quarter we saw reduced demand in certain end markets (in particular, durable consumer goods), which we attribute to the economic slowdown caused by the COVID-19 pandemic. This weakened demand in certain end markets is likely to continue in the near-term and may continue for the remainder of 2020 and into 2021. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects, if any, on its results of operations, financial condition, or liquidity for fiscal year 2020 or 2021. 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 (the "Loan") to AMAK. As a condition of the Loan, SIDF required all stockholders of AMAK to execute personal or corporate guarantees. The Loan was necessary to continue construction of the AMAK facilities and provide working capital needs. We received no consideration in connection with extending the guarantee and did so to maintain and enhance the value of our investment. On July 8, 2018, the Loan was amended to adjust the repayment schedule and extend the repayment terms through April 2024. Under the new payment terms the current amount due in 2020 is SAR 50.0 million (US $13.3 million ). In connection with the First Closing discussed in Note 5, our portion of the loan guarantee was effectively reduced to 33.1% or approximately SAR 95.7 million (US $24.3 million ). The total amount outstanding on the Loan at June 30, 2020 was SAR 275.0 million (US $77.3 million ). The Purchase Agreement described in Note 5 includes the release of the Company's entire guarantee in connection with the Share Sale. See additional discussion in Note 5. Operating Lease Commitments See Note 8 for discussion on lease commitments. Litigation The Company is periodically named in legal actions arising from normal business activities. We evaluate the merits of these actions and, if we determine that an unfavorable outcome is probable and can be reasonably estimated, we will establish the necessary reserves. We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future. Supplier Agreements In accordance with our supplier agreements, on a recurring monthly basis, the Company commits to purchasing a determined volume of feedstock in anticipation of upcoming requirements. Feedstock purchases are invoiced and recorded when they are delivered. As of June 30, 2020 and December 31, 2019 , the value of the remaining undelivered feedstock approximated $2.7 million and $3.5 million , respectively. From time to time, we may incur shortfall fees due to feedstock purchases being below the minimum amounts prescribed by our agreements with our suppliers. Shortfall fee expenses were approximately $0.6 million and $0.1 million for the three months and $1.0 million and $0.7 million for the six months ended June 30, 2020 and 2019 , respectively. Environmental Remediation Amounts charged to expense for various activities related to environmental monitoring, compliance, and improvements were approximately $0.3 million and $0.2 million for the three months and $0.5 million and $0.4 million for the six months ended June 30, 2020 and 2019 , respectively.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION 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”), were approved by the Company’s stockholders in July 2008. The Stock Option Plans allot for the issuance of up to 1,000,000 shares. The Trecora Resources Stock and Incentive Plan (the “Plan”) was approved by the Company’s stockholders in June 2012. As amended, the Plan allots for the issuance of up to 2.5 million shares in the form of stock options or restricted stock unit awards. The Company recognized stock-based compensation expense of approximately $0.5 million and $0.3 million for the three months and $0.9 million and $0.6 million for the six months ended June 30, 2020 and 2019 , respectively. Stock Options and Warrant Awards Stock options and warrants granted under the provisions of the Stock Option Plans permit the purchase of our common stock at exercise prices equal to the closing price of Company common stock on the date the options were granted. The options have terms of 10 years and generally vest ratably over terms of 4 to 5 years. There were no stock options or warrant awards issued during the three or six months ended June 30, 2020 or 2019 , respectively. A summary of the status of the Company’s stock option and warrant awards is as follows: Stock Options and Warrants Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Intrinsic Value (in thousands) Outstanding at January 1, 2020 487,000 10.87 Granted — — Exercised — — Forfeited — — Outstanding at June 30, 2020 487,000 10.87 3.3 $ — Expected to vest — $ — Exercisable at June 30, 2020 487,000 10.87 3.3 $ — 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 June 30, 2020 , options to purchase approximately 0.1 million shares of common stock were in-the-money. Since no options were granted, the weighted average grant-date fair value per share of options granted during the three and six months ended June 30, 2020 and 2019, respectively, was zero . The Company has no non-vested options as of June 30, 2020 . Restricted Stock Unit Awards Generally, restricted stock unit awards are granted annually to officers and directors of the Company under the provisions of the Plan. Restricted stock units are also granted ad hoc to attract or retain key personnel, and the terms and conditions under which these restricted stock units vest vary by award. The fair market value of restricted stock units granted is equal to the Company’s closing stock price on the date of grant. Restricted stock units granted generally vest ratably over 3 years. Certain awards also include vesting provisions based on performance metrics. Upon vesting, the restricted stock units are settled by issuing one share of Company common stock per unit. A summary of the status of the Company's restricted stock units activity is as follows: Shares of Restricted Stock Units Weighted Average Grant Date Price per Share Outstanding at January 1, 2020 298,864 9.78 Granted 364,637 6.32 Forfeited (15,571 ) 11.40 Vested (71,409 ) 8.40 Outstanding at June 30, 2020 576,521 7.51 Expected to vest 576,521

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We file an income tax return in the U.S. federal jurisdiction and a margin tax return in Texas. Previously, the Texas Comptroller selected the R&D credit calculations related to the 2014 and 2015 calendar years for audit. The state of Texas suspended examination of the 2014 and 2015 calendar years in order to perform a comprehensive review of audit procedures to provide consistency. During the fourth quarter of 2019, we received notice that Texas had completed their review of their procedures and initiated additional requests for information. We do not expect any material changes related to the federal or Texas audits. In February 2020, we received notice from the Internal Revenue Service ("IRS") regarding the IRS's selection of the Company for an income tax audit for the tax period ending December 31, 2017. Our federal and Texas tax returns remain open for examination for the years 2016 through 2019. As of June 30, 2020 and December 31, 2019 , respectively, we recognized no adjustments for uncertain tax positions or related interest and penalties. The effective tax rate varies from the federal statutory rate of 21% , primarily as a result of state tax expense, stock based compensation, foreign taxes and a research and development credit for the six months ended June 30, 2020 and 2019 . We continue to maintain a valuation allowance against certain deferred tax assets, specifically for mining claims for PEVM, where realization is not certain. The CARES Act provides stimulus measures to companies impacted by the COVID-19 pandemic, which include the ability to defer payment for employer payroll taxes, utilize net operating loss ("NOL") carrybacks, increased the limitation on the deductibility of interest expense, technical corrections to allow accelerated tax depreciation on qualified improvement property, as well as allowing qualified business to apply for loans and grants. We have recognized $16.5 million for the NOL carryback claims, which are included in the $16.2 million income tax receivable. On April 30, 2020 we filed our first refund claims for approximately $14.1 million and on June 30, 2020 we filed our second and final refund claims for approximately $2.4 million .

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION 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. Segment data may include rounding differences. Our Specialty Petrochemicals segment includes SHR and GSPL. Our Specialty Waxes segment is TC. We also separately identify our corporate overhead which includes administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs. Three Months Ended June 30, 2020 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 31,236 $ 5,471 $ — $ — $ 36,707 Processing fees 1,159 2,808 — — 3,967 Total revenues 32,395 8,279 — — 40,674 Operating income (loss) before depreciation and amortization 4,974 854 (2,199 ) — 3,629 Operating income (loss) 2,354 (485 ) (2,203 ) — (334 ) Income (loss) from continuing operations before taxes 1,648 (445 ) (2,204 ) — (1,001 ) Depreciation and amortization 2,621 1,338 3 — 3,962 Capital expenditures 5,382 285 — — 5,667 Three Months Ended June 30, 2019 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 58,584 $ 6,745 $ — — $ 65,329 Processing fees 1,527 2,515 — — 4,042 Total revenues 60,111 9,260 — — 69,371 Operating income (loss) before depreciation and amortization 10,028 766 (2,128 ) — 8,666 Operating income (loss) 7,104 (633 ) (2,156 ) — 4,315 Income (loss) from continuing operations before taxes 6,375 (1,013 ) (2,164 ) — 3,198 Depreciation and amortization 2,925 1,399 12 — 4,336 Capital expenditures 1,461 426 — — 1,887 Six Months Ended June 30, 2020 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 81,622 $ 12,268 $ — $ — $ 93,890 Processing fees 2,403 6,448 — — 8,851 Total revenues 84,025 18,716 — — 102,741 Operating income (loss) before depreciation and amortization 11,464 1,920 (4,615 ) — 8,769 Operating income (loss) 6,226 (747 ) (4,625 ) — 854 Income (loss) from continuing operations before taxes 4,590 (687 ) (4,694 ) — (791 ) Depreciation and amortization 5,238 2,666 10 — 7,914 Capital expenditures 6,983 601 — — 7,584 Six Months Ended June 30, 2019 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 114,074 $ 12,748 $ — — $ 126,822 Processing fees 2,910 4,794 — — 7,704 Total revenues 116,984 17,542 — — 134,526 Operating income (loss) before depreciation and amortization 21,435 (83 ) (4,433 ) — 16,919 Operating income (loss) 15,437 (2,830 ) (4,466 ) — 8,141 Income (loss) from continuing operations before taxes 13,510 (3,552 ) (4,456 ) — 5,502 Depreciation and amortization 5,999 2,747 32 — 8,778 Capital expenditures 2,839 935 — — 3,774 June 30, 2020 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Trade receivables, product sales $ 14,934 $ 3,005 $ — $ — $ 17,939 Trade receivables, processing fees 927 1,374 — — 2,301 Intangible assets, net — 13,814 — — 13,814 Total assets 300,996 87,755 101,714 (168,588 ) 321,877 December 31, 2019 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Trade receivables, product sales $ 18,911 $ 3,613 $ — $ — $ 22,524 Trade receivables, processing fees 748 3,048 — — 3,796 Intangible assets, net — 14,736 — — 14,736 Total assets 289,546 88,245 90,203 (166,175 ) 301,819

NET INCOME (LOSS) PER COMMON SH

NET INCOME (LOSS) PER COMMON SHARE	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER COMMON SHARE	NET INCOME (LOSS) PER COMMON SHARE The following tables set forth the computation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2020 and 2019 , respectively. Net Income (Loss) per Common Share - Continuing Operations Three Months Ended Three Months Ended Income Shares Per Share Amount Income Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income (loss) from continuing operations $ (1,859 ) 24,802 $ (0.07 ) $ 2,507 24,696 $ 0.10 Unvested restricted stock units — 395 Diluted: Net income (loss) from continuing operations $ (1,859 ) 24,802 $ (0.07 ) $ 2,507 25,091 $ 0.10 Six Months Ended Six Months Ended Income Shares Per Share Amount Income Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income from continuing operations $ 4,004 24,784 $ 0.16 $ 4,317 24,675 $ 0.17 Unvested restricted stock units 577 414 Diluted: Net income from continuing operations $ 4,004 25,360 $ 0.16 $ 4,317 25,089 $ 0.17 Net Income (Loss) per Common Share - Discontinued Operations Three Months Ended Three Months Ended Income Shares Per Share Amount Income (Loss) Shares Per Share Amount (in thousands, except per share amounts) Basic: Net loss from discontinued operations, net of tax $ (2 ) 24,802 $ — $ (103 ) 24,696 $ — Unvested restricted stock units — 395 Diluted: Net loss from discontinued operations, net of tax $ (2 ) 24,802 $ — $ (103 ) 25,091 $ — Six Months Ended Six Months Ended Income (Loss) Shares Per Share Amount Income (Loss) Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income (loss) from discontinued operations, net of tax $ 4,855 24,784 $ 0.20 $ (162 ) 24,675 $ (0.01 ) Unvested restricted stock units 577 414 Diluted: Net income (loss) from discontinued operations, net of tax $ 4,855 25,360 $ 0.19 $ (162 ) 25,089 $ (0.01 ) Net Income (Loss) per Common Share Three Months Ended Three Months Ended Income Shares Per Share Amount Income Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income (loss) $ (1,861 ) 24,802 $ (0.07 ) $ 2,404 24,696 $ 0.10 Unvested restricted stock units — 395 Diluted: Net income (loss) $ (1,861 ) 24,802 $ (0.07 ) $ 2,404 25,091 $ 0.10 Six Months Ended Six Months Ended Income (Loss) Shares Per Share Amount Income (Loss) Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income $ 8,859 24,784 $ 0.36 $ 4,155 24,675 $ 0.16 Unvested restricted stock units 577 414 Diluted: Net income $ 8,859 25,360 $ 0.35 $ 4,155 25,089 $ 0.16 At June 30, 2020 and 2019 , 487,000 and 552,000 shares of common stock, respectively, were issuable upon the exercise of options and warrants.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company incurred consulting fees of approximately nil and nil for the three months and nil and $0.1 million for the six months ended June 30, 2020 and 2019 , respectively, from our Director, Nicholas Carter. Due to his history and experience with the Company and to provide continuity after his retirement, a consulting agreement was entered into with Mr. Carter in July 2015, which terminated effective December 31, 2019.

POST-RETIREMENT OBLIGATIONS

POST-RETIREMENT OBLIGATIONS	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
POST-RETIREMENT OBLIGATIONS	POST-RETIREMENT OBLIGATIONS We currently have post-retirement obligations with two former executives. As of June 30, 2020 and December 31, 2019 , approximately $0.3 million and $0.3 million , respectively, remained outstanding and was included in post-retirement obligations. For additional information, see NOTE 22, “POST-RETIREMENT OBLIGATIONS” to the consolidated financial statements set forth in our Annual Report on Form 10–K for the year ended December 31, 2019.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On July 28, 2020 , the Company received proceeds of approximately $2.5 million in connection with the sale of a 1 million share portion of Trecora's overall ownership in AMAK. Following this transaction, the Company's ownership percentage in AMAK has been reduced from 28.3% to 27.0% .

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these unaudited financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the financial statements and related notes contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 .
Use of Estimates	The unaudited condensed consolidated financial statements included in this document have been prepared on the same basis as the annual financial statements and in management's opinion reflect all adjustments, including normal recurring adjustments, necessary to present fairly the Company's financial position, results of operations and cash flows for the interim periods presented. We have made estimates and judgments affecting the amounts reported in this document. The actual results that we experience may differ materially from our estimates. In the opinion of management, the disclosures included in these financial statements are adequate to make the information presented not misleading.
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements Effective January 1, 2020, we adopted Financial Accounting Standard Board ("FASB") Accounting Standards Update ("ASU") 2016-13, Measurement of Credit Losses on Financial Instruments, which changed the way entities recognize impairment of most financial assets. Short-term and long-term financial assets, as defined by the standard, are impacted by immediate recognition of estimated credit losses in the financial statements, reflecting the net amount expected to be collected. The adoption of this standard did not have a material impact on our condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for us in the first quarter of 2021 on a prospective basis, and early adoption is permitted. We are currently evaluating the impact of the new guidance on our condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020–04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04), which provides guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying generally accepted accounting principles to contracts, hedging relationships, and other transactions impacted by reference rate reform. The provisions of ASU 2020-04 apply only to those transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2022. We are currently evaluating the impact of ASU 2020-04 on our condensed consolidated financial statements.

TRADE RECEIVABLES (Tables)

TRADE RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Trade Receivables	Trade receivables, net, consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) Trade receivables $ 20,668 $ 26,749 Less allowance for doubtful accounts (428 ) (429 ) Trade receivables, net $ 20,240 $ 26,320

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories included the following: June 30, 2020 December 31, 2019 (thousands of dollars) Raw material $ 738 $ 2,100 Work in process 244 142 Finished products 6,613 11,382 Total inventory $ 7,595 $ 13,624

INVESTMENT IN AMAK (Held-for-_2

INVESTMENT IN AMAK (Held-for-Sale) (Tables)	6 Months Ended
	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Disposal Groups, Including Discontinued Operations	Included in discontinued operations are the following: Three Months Ended June 30, Six Months Ended 2020 2019 2020 2019 (thousands of dollars) (thousands of dollars) Saudi administration (income) expenses $ (97 ) $ 39 $ (114 ) $ 55 Equity in (earnings) losses of AMAK (306 ) 91 226 150 Gain on sale of equity interest — — (6,663 ) — (Income) loss from discontinued operations before taxes (403 ) 130 (6,551 ) 205 Tax expense (benefit) 405 (27 ) 1,696 (43 ) (Income) loss from discontinued operations (net of tax) $ 2 $ 103 $ (4,855 ) $ 162
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 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (thousands of dollars) (thousands of dollars) Sales $ 20,752 $ 20,566 $ 38,689 $ 41,230 Cost of sales 17,829 18,162 34,650 36,732 Gross profit 2,923 2,404 4,039 4,498 Selling, general, and administrative 2,362 2,807 5,042 5,545 Operating income (loss) 561 (403 ) (1,003 ) (1,047 ) Other income (expense) — (75 ) 17 353 Finance and interest expense (103 ) (448 ) (634 ) (893 ) Income (loss) before Zakat and income taxes 458 (926 ) (1,620 ) (1,587 ) Zakat and income taxes 566 366 1,099 888 Net Loss $ (108 ) $ (1,292 ) $ (2,719 ) $ (2,475 ) Financial Position June 30, December 31, 2020 2019 (thousands of dollars) Current assets $ 41,193 $ 45,354 Noncurrent assets 200,828 196,564 Total assets $ 242,021 $ 241,918 Current liabilities $ 23,307 $ 27,645 Long term liabilities 86,508 79,348 Stockholders' equity 132,206 134,925 $ 242,021 $ 241,918
Summary of Operating Results and Financial Position for Equity Method Investments	The equity in the earnings (losses) of AMAK included in income (loss) from discontinued operations, net of tax, on the consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 , is comprised of the following: Three Months Ended Six Months Ended 2020 2019 2020 2019 (thousands of dollars) (thousands of dollars) AMAK Net Loss (108 ) (1,292 ) (2,719 ) (2,475 ) Percentage of Ownership 28.3 % 33.3 % 33.1 % * 33.3 % Company's share of loss reported by AMAK (31 ) (429 ) (900 ) (824 ) Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK 337 337 674 674 Equity in earnings (losses) of AMAK 306 (92 ) (226 ) (150 ) * Percentage of Ownership varies during the period.

PREPAID EXPENSES AND OTHER AS_2

PREPAID EXPENSES AND OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2020
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Assets	Prepaid expenses and other assets consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) Prepaid license $ 806 $ 1,209 Spare parts 2,049 1,857 Insurance receivable — 1,148 Other prepaid expenses and assets 378 733 Total prepaid expenses and other assets $ 3,233 $ 4,947

PLANT, PIPELINE AND EQUIPMENT (

PLANT, PIPELINE AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Plant, Pipeline and Equipment	Plant, pipeline and equipment consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) Platinum catalyst metal $ 1,580 $ 1,580 Catalyst 4,325 4,095 Land 5,428 5,428 Plant, pipeline and equipment 264,839 258,651 Construction in progress 6,359 5,052 Total plant, pipeline and equipment $ 282,531 $ 274,806 Less accumulated depreciation (93,294 ) (85,887 ) Net plant, pipeline and equipment $ 189,237 $ 188,919

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lease Information	The components of lease expense were as follows: ($ in thousands) Classification in the Condensed Consolidated Statements of Income Three Months Ended Six Months Ended 2020 2019 2020 2019 Operating lease cost (a) Cost of sales, exclusive of depreciation and amortization $ 987 $ 1,152 $ 1,922 $ 2,291 Operating lease cost (a) Selling, general and administrative 34 38 68 72 Total lease cost $ 1,021 $ 1,190 $ 1,990 $ 2,363 (a) Short-term lease costs were approximately $0.1 million and $0.1 million for the three months ended June 30, 2020 and 2019, respectively. Short-term lease costs were approximately $0.1 million and $0.1 million for the six months ended June 30, 2020 and 2019, respectively.
Lease Information	($ in thousands) Classification on the Condensed Consolidated Balance Sheets June 30, 2020 December 31, 2019 Assets: Operating Operating lease assets $ 11,915 $ 13,512 Total leased assets $ 11,915 $ 13,512 Liabilities: Current: Operating Current portion of operating lease liabilities $ 3,142 $ 3,174 Noncurrent: Operating Operating lease liabilities 8,773 10,338 Total lease liabilities $ 11,915 $ 13,512
Lease Information	June 30, 2020 Weighted-average remaining lease term (in years): Operating leases 4.1 Weighted-average discount rate: Operating leases 4.5 %
Lease Information	Three Months Ended Six Months Ended ($ in thousands) 2020 2019 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 933 $ 1,122 $ 1,881 $ 3,385 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — $ — $ — $ 138
Operating Lease Maturities	As of June 30, 2020 , maturities of lease liabilities were as follows: ($ in thousands) Operating Leases 2020 $ 1,824 2021 3,540 2022 3,218 2023 2,329 2024 1,026 Thereafter 1,082 Total lease payments $ 13,019 Less: Interest 1,104 Total lease obligations $ 11,915

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets by Major Class	The following tables summarize the gross carrying amounts and accumulated amortization of intangible assets by major class: June 30, 2020 Gross Accumulated Amortization Net (thousands of dollars) Customer relationships $ 16,852 $ (6,460 ) $ 10,392 Non-compete agreements 94 (94 ) — Licenses and permits 1,471 (654 ) 817 Developed technology 6,131 (3,526 ) 2,605 Total $ 24,548 $ (10,734 ) $ 13,814 December 31, 2019 Gross Accumulated Amortization Net (thousands of dollars) Customer relationships $ 16,852 $ (5,898 ) $ 10,954 Non-compete agreements 94 (94 ) — Licenses and permits 1,471 (601 ) 870 Developed technology 6,131 (3,219 ) 2,912 Total $ 24,548 $ (9,812 ) $ 14,736
Estimated Amortization Expenses for Succeeding Five Fiscal Years	Based on identified intangible assets that are subject to amortization as of June 30, 2020 , we expect future amortization expenses for each period to be as follows: Total Remainder of 2020 2021 2022 2023 2024 2025 Thereafter (thousands of dollars) Customer relationships $ 10,392 $ 562 $ 1,123 $ 1,123 1,123 1,123 1,123 $ 4,215 Licenses and permits 817 53 101 86 86 86 86 319 Developed technology 2,605 306 613 613 613 460 — — Total future amortization expense $ 13,814 $ 921 $ 1,837 $ 1,822 $ 1,822 $ 1,669 $ 1,209 $ 4,534

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: June 30, 2020 December 31, 2019 (thousands of dollars) State taxes $ 297 $ 215 Property taxes 1,811 — Payroll 1,789 1,250 Royalties 544 273 Officer compensation 674 1,687 Legal 161 212 Foreign taxes 320 — AMAK transaction costs 1,000 1,000 Other 1,205 1,103 Total $ 7,801 $ 5,740

LIABILITIES AND LONG-TERM DEBT

LIABILITIES AND LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt and long-term obligations are summarized as follows: June 30, 2020 December 31, 2019 (thousands of dollars) Revolving Facility — 3,000 Term Loan Facility 78,750 80,938 Loan fees (558 ) (649 ) Total long-term debt 78,192 83,289 Less current portion including loan fees 4,194 4,194 Total long-term debt, less current portion including loan fees 73,998 79,095

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Status of Stock Option Awards and Warrants	A summary of the status of the Company’s stock option and warrant awards is as follows: Stock Options and Warrants Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Intrinsic Value (in thousands) Outstanding at January 1, 2020 487,000 10.87 Granted — — Exercised — — Forfeited — — Outstanding at June 30, 2020 487,000 10.87 3.3 $ — Expected to vest — $ — Exercisable at June 30, 2020 487,000 10.87 3.3 $ —
Restricted Stock Units Activity	A summary of the status of the Company's restricted stock units activity is as follows: Shares of Restricted Stock Units Weighted Average Grant Date Price per Share Outstanding at January 1, 2020 298,864 9.78 Granted 364,637 6.32 Forfeited (15,571 ) 11.40 Vested (71,409 ) 8.40 Outstanding at June 30, 2020 576,521 7.51 Expected to vest 576,521

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of Segment Information	Three Months Ended June 30, 2020 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 31,236 $ 5,471 $ — $ — $ 36,707 Processing fees 1,159 2,808 — — 3,967 Total revenues 32,395 8,279 — — 40,674 Operating income (loss) before depreciation and amortization 4,974 854 (2,199 ) — 3,629 Operating income (loss) 2,354 (485 ) (2,203 ) — (334 ) Income (loss) from continuing operations before taxes 1,648 (445 ) (2,204 ) — (1,001 ) Depreciation and amortization 2,621 1,338 3 — 3,962 Capital expenditures 5,382 285 — — 5,667 Three Months Ended June 30, 2019 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 58,584 $ 6,745 $ — — $ 65,329 Processing fees 1,527 2,515 — — 4,042 Total revenues 60,111 9,260 — — 69,371 Operating income (loss) before depreciation and amortization 10,028 766 (2,128 ) — 8,666 Operating income (loss) 7,104 (633 ) (2,156 ) — 4,315 Income (loss) from continuing operations before taxes 6,375 (1,013 ) (2,164 ) — 3,198 Depreciation and amortization 2,925 1,399 12 — 4,336 Capital expenditures 1,461 426 — — 1,887 Six Months Ended June 30, 2020 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 81,622 $ 12,268 $ — $ — $ 93,890 Processing fees 2,403 6,448 — — 8,851 Total revenues 84,025 18,716 — — 102,741 Operating income (loss) before depreciation and amortization 11,464 1,920 (4,615 ) — 8,769 Operating income (loss) 6,226 (747 ) (4,625 ) — 854 Income (loss) from continuing operations before taxes 4,590 (687 ) (4,694 ) — (791 ) Depreciation and amortization 5,238 2,666 10 — 7,914 Capital expenditures 6,983 601 — — 7,584 Six Months Ended June 30, 2019 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Product sales $ 114,074 $ 12,748 $ — — $ 126,822 Processing fees 2,910 4,794 — — 7,704 Total revenues 116,984 17,542 — — 134,526 Operating income (loss) before depreciation and amortization 21,435 (83 ) (4,433 ) — 16,919 Operating income (loss) 15,437 (2,830 ) (4,466 ) — 8,141 Income (loss) from continuing operations before taxes 13,510 (3,552 ) (4,456 ) — 5,502 Depreciation and amortization 5,999 2,747 32 — 8,778 Capital expenditures 2,839 935 — — 3,774 June 30, 2020 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Trade receivables, product sales $ 14,934 $ 3,005 $ — $ — $ 17,939 Trade receivables, processing fees 927 1,374 — — 2,301 Intangible assets, net — 13,814 — — 13,814 Total assets 300,996 87,755 101,714 (168,588 ) 321,877 December 31, 2019 Specialty Petrochemicals Specialty Waxes Corporate Eliminations Consolidated (in thousands) Trade receivables, product sales $ 18,911 $ 3,613 $ — $ — $ 22,524 Trade receivables, processing fees 748 3,048 — — 3,796 Intangible assets, net — 14,736 — — 14,736 Total assets 289,546 88,245 90,203 (166,175 ) 301,819

NET INCOME (LOSS) PER COMMON _2

NET INCOME (LOSS) PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share	The following tables set forth the computation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2020 and 2019 , respectively. Net Income (Loss) per Common Share - Continuing Operations Three Months Ended Three Months Ended Income Shares Per Share Amount Income Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income (loss) from continuing operations $ (1,859 ) 24,802 $ (0.07 ) $ 2,507 24,696 $ 0.10 Unvested restricted stock units — 395 Diluted: Net income (loss) from continuing operations $ (1,859 ) 24,802 $ (0.07 ) $ 2,507 25,091 $ 0.10 Six Months Ended Six Months Ended Income Shares Per Share Amount Income Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income from continuing operations $ 4,004 24,784 $ 0.16 $ 4,317 24,675 $ 0.17 Unvested restricted stock units 577 414 Diluted: Net income from continuing operations $ 4,004 25,360 $ 0.16 $ 4,317 25,089 $ 0.17 Net Income (Loss) per Common Share - Discontinued Operations Three Months Ended Three Months Ended Income Shares Per Share Amount Income (Loss) Shares Per Share Amount (in thousands, except per share amounts) Basic: Net loss from discontinued operations, net of tax $ (2 ) 24,802 $ — $ (103 ) 24,696 $ — Unvested restricted stock units — 395 Diluted: Net loss from discontinued operations, net of tax $ (2 ) 24,802 $ — $ (103 ) 25,091 $ — Six Months Ended Six Months Ended Income (Loss) Shares Per Share Amount Income (Loss) Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income (loss) from discontinued operations, net of tax $ 4,855 24,784 $ 0.20 $ (162 ) 24,675 $ (0.01 ) Unvested restricted stock units 577 414 Diluted: Net income (loss) from discontinued operations, net of tax $ 4,855 25,360 $ 0.19 $ (162 ) 25,089 $ (0.01 ) Net Income (Loss) per Common Share Three Months Ended Three Months Ended Income Shares Per Share Amount Income Shares Per Share Amount (in thousands, except per share amounts) Basic: Net income (loss) $ (1,861 ) 24,802 $ (0.07 ) $ 2,404 24,696 $ 0.10 Unvested restricted stock units — 395 Diluted: Net income (loss) $ (1,861 ) 24,802 $ (0.07 ) $ 2,404 25,091 $ 0.10

GENERAL (Details)

GENERAL (Details)	6 Months Ended
	Jun. 30, 2020segment
Noncontrolling Interest [Line Items]
Number of operating segments	2
Al Masane Al Kobra (AMAK)
Noncontrolling Interest [Line Items]
Percentage of ownership	28.30%
Pioche Ely Valley Mines, Inc. (PEVM)
Noncontrolling Interest [Line Items]
Percentage of ownership	55.00%

TRADE RECEIVABLES (Details)

TRADE RECEIVABLES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Trade receivables	$ 20,668	$ 26,749
Less allowance for doubtful accounts	(428)	(429)
Trade receivables, net	$ 20,240	$ 26,320

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw material	$ 738	$ 2,100
Work in process	244	142
Finished products	6,613	11,382
Total inventory	7,595	13,624
Products in transit	$ 1,400	$ 2,900

INVESTMENT IN AMAK (Held-for-_3

INVESTMENT IN AMAK (Held-for-Sale) - Additional Information (Details) ر.س in Millions, $ in Millions	Mar. 26, 2020USD ($)shares	Mar. 26, 2020SAR (ر.س)	Oct. 02, 2019USD ($)	Oct. 02, 2019SAR (ر.س)	Jun. 30, 2019shares	Jun. 30, 2020USD ($)	Mar. 23, 2020	Dec. 31, 2019USD ($)	Jun. 29, 2019	Jun. 30, 1986ر.س / $
AMAK
Schedule of Equity Method Investments [Line Items]
Percentage of ownership	33.30%					28.30%		33.30%
Investment in equity method investment						$ 29.2		$ 32.9
Amount of investment sold			$ 70	ر.س 264.7
Non-refundable deposit of amount sold, percentage			5.00%	5.00%
Non-refundable deposit of amount sold			$ 3.5
Amount of non-refundable deposit forfeited after long stop date, percentage			50.00%				100.00%
Proceeds from sale of investment	$ 10.7	ر.س 40.0
Percentage of non-refundable deposit forfeited prior to long stop date							50.00%
Equity method investment, shares sold (in shares) | shares	4,000,000
Proceeds from sales deposit of equity method investments	$ 0.5
Deposits forfeited						$ 1.5
Exchange rate | ر.س / $										3.75
Chief Executive Officer | AMAK
Schedule of Equity Method Investments [Line Items]
Percentage of ownership					33.30%				33.40%
Shares of equity transferred to related party (in shares) | shares					100,000
Foreign Tax Authority
Schedule of Equity Method Investments [Line Items]
Income taxes payable	$ 0.3

INVESTMENT IN AMAK (Held-for-_4

INVESTMENT IN AMAK (Held-for-Sale) - Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Income) loss from discontinued operations (net of tax)	$ 2	$ 103	$ (4,855)	$ 162
Investment In Al Masane Al Kobra Mining Company (AMAK) | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Saudi administration (income) expenses	(97)	39	(114)	55
Equity in (earnings) losses of AMAK	(306)	91	226	150
Gain on sale of equity interest	0	0	(6,663)	0
(Income) loss from discontinued operations before taxes	(403)	130	(6,551)	205
Tax expense (benefit)	405	(27)	1,696	(43)
(Income) loss from discontinued operations (net of tax)	$ 2	$ 103	$ (4,855)	$ 162

INVESTMENT IN AMAK (Held-for-_5

INVESTMENT IN AMAK (Held-for-Sale) - Summary of Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Equity Method Investments [Line Items]
Sales	$ 40,674	$ 69,371	$ 102,741	$ 134,526
Cost of sales	34,507	58,806	88,496	113,888
GROSS PROFIT	6,167	10,565	14,245	20,638
OPERATING INCOME (LOSS)	(334)	4,315	854	8,141
Other income (expense)	(667)	(1,117)	(1,645)	(2,639)
Zakat and income taxes	858	691	(4,795)	1,185
NET INCOME (LOSS)	(1,861)	2,404	8,859	4,155
AMAK
Schedule of Equity Method Investments [Line Items]
Sales	20,752	20,566	38,689	41,230
Cost of sales	17,829	18,162	34,650	36,732
GROSS PROFIT	2,923	2,404	4,039	4,498
Selling, general, and administrative	2,362	2,807	5,042	5,545
OPERATING INCOME (LOSS)	561	(403)	(1,003)	(1,047)
Other income (expense)	0	(75)	17	353
Finance and interest expense	(103)	(448)	(634)	(893)
Income (loss) before Zakat and income taxes	458	(926)	(1,620)	(1,587)
Zakat and income taxes	566	366	1,099	888
NET INCOME (LOSS)	$ (108)	$ (1,292)	$ (2,719)	$ (2,475)

INVESTMENT IN AMAK (Held-for-_6

INVESTMENT IN AMAK (Held-for-Sale) - Summary of Financial Position (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Current assets	$ 106,349		$ 84,090
TOTAL ASSETS	321,877		301,819
Current liabilities	27,119		28,635
Stockholders' equity	181,165	$ 182,516	171,443	$ 189,957	$ 187,189	$ 185,161
TOTAL LIABILITIES AND EQUITY	321,877		301,819
AMAK
Schedule of Equity Method Investments [Line Items]
Current assets	41,193		45,354
Noncurrent assets	200,828		196,564
TOTAL ASSETS	242,021		241,918
Current liabilities	23,307		27,645
Long term liabilities	86,508		79,348
Stockholders' equity	132,206		134,925
TOTAL LIABILITIES AND EQUITY	$ 242,021		$ 241,918

INVESTMENT IN AMAK (Held-for-_7

INVESTMENT IN AMAK (Held-for-Sale) - Equity in the Income or Loss of Equity Method Investment (Details) - AMAK - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Equity Method Investments [Line Items]
AMAK Net Loss	$ (108)	$ (1,292)	$ (2,719)	$ (2,475)
Percentage of Ownership	28.30%	33.30%	33.10%	33.30%
Company's share of loss reported by AMAK	$ (31)	$ (429)	$ (900)	$ (824)
Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK	337	337	674	674
Equity in earnings (losses) of AMAK	$ 306	$ (92)	$ (226)	$ (150)

PREPAID EXPENSES AND OTHER AS_3

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid license	$ 806	$ 1,209
Spare parts	2,049	1,857
Insurance receivable	0	1,148
Other prepaid expenses and assets	378	733
Total prepaid expenses and other assets	$ 3,233	$ 4,947

PLANT, PIPELINE AND EQUIPMENT_2

PLANT, PIPELINE AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	$ 282,531		$ 282,531		$ 274,806
Less accumulated depreciation	(93,294)		(93,294)		(85,887)
Net plant, pipeline and equipment	189,237		189,237		188,919
Amortization relating to the platinum catalyst	200	$ 200	400	$ 500
Platinum catalyst metal
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	1,580		1,580		1,580
Catalyst
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	4,325		4,325		4,095
Land
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	5,428		5,428		5,428
Plant, pipeline and equipment
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	264,839		264,839		258,651
Construction in progress
Property, Plant and Equipment [Line Items]
Total plant, pipeline and equipment	$ 6,359		$ 6,359		$ 5,052

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Total lease cost	$ 1,021,000	$ 1,190,000	$ 1,990,000	$ 2,363,000
Short-term lease costs	100,000	100,000	100,000	100,000
Variable lease costs	0	0	0	0
Cost of sales, exclusive of depreciation and amortization
Lessee, Lease, Description [Line Items]
Total operating lease cost	987,000	1,152,000	1,922,000	2,291,000
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Total operating lease cost	$ 34,000	$ 38,000	$ 68,000	$ 72,000

LEASES - Balance Sheet Classifi

LEASES - Balance Sheet Classifications (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating	$ 11,915	$ 13,512
Total leased assets	11,915	13,512
Current portion of operating lease liabilities	3,142	3,174
Operating lease liabilities	8,773	10,338
Total lease liabilities	$ 11,915	$ 13,512

LEASES - Cash Flow Classificati

LEASES - Cash Flow Classifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating cash flows used for operating leases	$ 933	$ 1,122	$ 1,881	$ 3,385
Right-of-use assets obtained in exchange for lease obligations, Operating leases	$ 0	$ 0	$ 0	$ 138

LEASES - Terms and Discount Rat

LEASES - Terms and Discount Rates (Details)	Jun. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term, Operating leases	4 years 1 month 6 days
Weighted-average discount rate, Operating leases	4.50%

LEASES - Maturities (Details)

LEASES - Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating Leases
2020	$ 1,824
2021	3,540
2022	3,218
2023	2,329
2024	1,026
Thereafter	1,082
Total lease payments	13,019
Less: Interest	1,104
Total lease obligations	$ 11,915	$ 13,512

INTANGIBLE ASSETS, NET - Intang

INTANGIBLE ASSETS, NET - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross	$ 24,548		$ 24,548		$ 24,548
Accumulated Amortization	(10,734)		(10,734)		(9,812)
Total	13,814		13,814		14,736
Amortization of intangible assets	500	$ 500	921	$ 931
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	16,852		16,852		16,852
Accumulated Amortization	(6,460)		(6,460)		(5,898)
Total	10,392		10,392		10,954
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross	94		94		94
Accumulated Amortization	(94)		(94)		(94)
Total	0		0		0
Licenses and permits
Finite-Lived Intangible Assets [Line Items]
Gross	1,471		1,471		1,471
Accumulated Amortization	(654)		(654)		(601)
Total	817		817		870
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross	6,131		6,131		6,131
Accumulated Amortization	(3,526)		(3,526)		(3,219)
Total	$ 2,605		$ 2,605		$ 2,912

INTANGIBLE ASSETS, NET - Expect

INTANGIBLE ASSETS, NET - Expected Future Amortization Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Total	$ 13,814	$ 14,736
Remainder of 2020	921
2021	1,837
2022	1,822
2023	1,822
2024	1,669
2025	1,209
Thereafter	4,534
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total	10,392	10,954
Remainder of 2020	562
2021	1,123
2022	1,123
2023	1,123
2024	1,123
2025	1,123
Thereafter	4,215
Licenses and permits
Finite-Lived Intangible Assets [Line Items]
Total	817	870
Remainder of 2020	53
2021	101
2022	86
2023	86
2024	86
2025	86
Thereafter	319
Developed technology
Finite-Lived Intangible Assets [Line Items]
Total	2,605	$ 2,912
Remainder of 2020	306
2021	613
2022	613
2023	613
2024	460
2025	0
Thereafter	$ 0

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Accrued Liabilities [Line Items]
Property taxes	$ 1,811	$ 0
Payroll	1,789	1,250
Royalties	544	273
Officer compensation	674	1,687
Legal	161	212
AMAK transaction costs	1,000	1,000
Other	1,205	1,103
Total	7,801	5,740
State and Local Jurisdiction
Schedule Of Accrued Liabilities [Line Items]
Income taxes	297	215
Foreign Tax Authority
Schedule Of Accrued Liabilities [Line Items]
Income taxes	$ 320	$ 0

LIABILITIES AND LONG-TERM DEB_2

LIABILITIES AND LONG-TERM DEBT LIABILITIES AND LONG-TERM DEBT - Additional Information (Details) $ in Thousands	May 06, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Line of Credit Facility [Line Items]
Long-term debt		$ 78,192		$ 83,289
Additions to CARES Act, PPP Loans		6,123	$ 0
Loan fees		(558)		(649)
Term Loan Facility
Line of Credit Facility [Line Items]
Long-term debt		78,750		$ 80,938
ARC Agreement, Fourth Amendment
Line of Credit Facility [Line Items]
Loan fees		$ (900)
TOCCO | ARC Agreement, Fourth Amendment
Line of Credit Facility [Line Items]
Consolidated leverage ratio, minimum required		3.50
Consolidated leverage ratio		2.62		2.91
Consolidated fixed charge coverage ratio, minimum required		1.15
Consolidated fixed charge coverage ratio		1.98		2.21
Revolving Facility
Line of Credit Facility [Line Items]
Long-term debt		$ 0		$ 3,000
Revolving Facility | ARC Agreement, Fourth Amendment
Line of Credit Facility [Line Items]
Available remaining borrowing capacity		$ 27,000
Effective interest rate (percentage)		2.52%
CARES Act | PPP Loans
Line of Credit Facility [Line Items]
Additions to CARES Act, PPP Loans	$ 6,100
Borrowing rate (percentage)	1.00%

LIABILITIES AND LONG-TERM DEB_3

LIABILITIES AND LONG-TERM DEBT LIABILITIES AND LONG-TERM DEBT - Schedule of Carrying Amounts of and Issuance Costs of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Loan fees	$ (558)	$ (649)
Total long-term debt	78,192	83,289
Less current portion including loan fees	4,194	4,194
Total long-term debt, less current portion including loan fees	73,998	79,095
Term Loan Facility
Line of Credit Facility [Line Items]
Total debt, gross	78,750	80,938
Revolving Facility
Line of Credit Facility [Line Items]
Total debt, gross	$ 0	$ 3,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) ر.س in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020SAR (ر.س)	Jun. 30, 2020SAR (ر.س)	Mar. 26, 2020USD ($)	Mar. 26, 2020SAR (ر.س)	Dec. 31, 2019USD ($)	Oct. 24, 2010
Guarantor Obligations [Line Items]
Undelivered feedstock	$ 2.7		$ 2.7							$ 3.5
Shortfall fee expenses	0.6	$ 0.1	1	$ 0.7
Expenses for environmental monitoring, compliance, and improvements	0.3	$ 0.2	0.5	$ 0.4
Saudi Industrial Development Fund Limited Guarantee
Guarantor Obligations [Line Items]
Loan guarantee (percentage)								33.10%	33.10%		41.00%
Amount of maximum exposure	$ 77.3		$ 77.3				ر.س 275.0	$ 24.3	ر.س 95.7
Saudi Industrial Development Fund Limited Guarantee | Scenario, Forecast
Guarantor Obligations [Line Items]
Amount of maximum exposure					$ 13.3	ر.س 50.0

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2012	Jul. 31, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 500	$ 300	$ 933	$ 558
Stock Option Plan for Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)						1,000,000
Stock Option Plan for Key Employees | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, term of award			10 years
Options, weighted average grant-date fair value (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Stock Option Plan for Key Employees | Stock Options | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, in-the-money (in shares)	100,000		100,000
Stock Option Plan for Key Employees | Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Stock Option Plan for Key Employees | Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Stock Option Plan for Key Employees | Stock Options and Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	0	0	0	0
Awards granted during period (in shares)	0	0	0	0
Trecora Resources Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)					2,500,000
Trecora Resources Stock and Incentive Plan | Restricted Stock Unit Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Option and Warrant Awards (Details) - Stock Option Plan for Key Employees - Stock Options and Warrants - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock Options and Warrants
Outstanding at beginning of period (in shares)			487,000
Granted (in shares)	0	0	0	0
Exercised (in shares)			0
Forfeited (in shares)			0
Outstanding at end of period (in shares)	487,000		487,000
Expected to vest (in shares)	0		0
Exercisable, end of period (in shares)	487,000		487,000
Weighted Average Exercise Price Per Share
Outstanding at beginning of period (in dollars per share)			$ 10.87
Granted (in dollars per share)			0
Exercised (in dollars per share)			0
Forfeited (in dollars per share)			0
Outstanding at end of period (in dollars per share)	$ 10.87		10.87
Exercisable, end of period (in dollars per share)	$ 10.87		$ 10.87
Weighted Average Remaining Contractual Life
Outstanding, weighted average remaining contractual life			3 years 3 months 18 days
Exercisable, weighted average remaining contractual life			3 years 3 months 18 days
Intrinsic Value
Outstanding, Intrinsic Value	$ 0		$ 0
Expected to vest, Intrinsic Value	0		0
Exercisable, Intrinsic Value	$ 0		$ 0

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Unit Activity (Details) - Restricted Stock Unit Awards	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Shares of Restricted Stock Units
Outstanding at beginning of period (in shares)	298,864
Granted (in shares)	364,637
Forfeited (in shares)	(15,571)
Vested (in shares)	(71,409)
Outstanding at end of period (in shares)	576,521
Expected to vest (in shares)	576,521
Weighted Average Grant Date Price per Share
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 9.78
Granted (in dollars per share) | $ / shares	6.32
Forfeited (in dollars per share) | $ / shares	11.40
Vested (in dollars per share) | $ / shares	8.40
Outstanding at end of period (in dollars per share) | $ / shares	$ 7.51

INCOME TAXES INCOME TAXES - Add

INCOME TAXES INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Apr. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
The CAREs Act, provisional income tax benefit			$ 16,500
Taxes receivable	$ 16,229		$ 16,229	$ 182
Refund claims made under CARES act	$ 2,400	$ 14,100

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 40,674	$ 69,371	$ 102,741	$ 134,526
Operating income (loss) before depreciation and amortization	3,629	8,666	8,769	16,919
Operating income (loss)	(334)	4,315	854	8,141
Income (loss) from continuing operations before taxes	(1,001)	3,198	(791)	5,502
Depreciation and amortization	3,962	4,336	7,914	8,778
Capital expenditures	5,667	1,887	7,584	3,774
Trade receivables, net	20,240		20,240		$ 26,320
Intangible assets, net	13,814		13,814		14,736
Total assets	321,877		321,877		301,819
Product sales
Segment Reporting Information [Line Items]
Total revenues	36,707	65,329	93,890	126,822
Trade receivables, net	17,939		17,939		22,524
Processing fees
Segment Reporting Information [Line Items]
Total revenues	3,967	4,042	8,851	7,704
Trade receivables, net	2,301		2,301		3,796
Operating Segments | Specialty Petrochemicals
Segment Reporting Information [Line Items]
Total revenues	32,395	60,111	84,025	116,984
Operating income (loss) before depreciation and amortization	4,974	10,028	11,464	21,435
Operating income (loss)	2,354	7,104	6,226	15,437
Income (loss) from continuing operations before taxes	1,648	6,375	4,590	13,510
Depreciation and amortization	2,621	2,925	5,238	5,999
Capital expenditures	5,382	1,461	6,983	2,839
Intangible assets, net	0		0		0
Total assets	300,996		300,996		289,546
Operating Segments | Specialty Petrochemicals | Product sales
Segment Reporting Information [Line Items]
Total revenues	31,236	58,584	81,622	114,074
Trade receivables, net	14,934		14,934		18,911
Operating Segments | Specialty Petrochemicals | Processing fees
Segment Reporting Information [Line Items]
Total revenues	1,159	1,527	2,403	2,910
Trade receivables, net	927		927		748
Operating Segments | Specialty Waxes
Segment Reporting Information [Line Items]
Total revenues	8,279	9,260	18,716	17,542
Operating income (loss) before depreciation and amortization	854	766	1,920	(83)
Operating income (loss)	(485)	(633)	(747)	(2,830)
Income (loss) from continuing operations before taxes	(445)	(1,013)	(687)	(3,552)
Depreciation and amortization	1,338	1,399	2,666	2,747
Capital expenditures	285	426	601	935
Intangible assets, net	13,814		13,814		14,736
Total assets	87,755		87,755		88,245
Operating Segments | Specialty Waxes | Product sales
Segment Reporting Information [Line Items]
Total revenues	5,471	6,745	12,268	12,748
Trade receivables, net	3,005		3,005		3,613
Operating Segments | Specialty Waxes | Processing fees
Segment Reporting Information [Line Items]
Total revenues	2,808	2,515	6,448	4,794
Trade receivables, net	1,374		1,374		3,048
Corporate
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Operating income (loss) before depreciation and amortization	(2,199)	(2,128)	(4,615)	(4,433)
Operating income (loss)	(2,203)	(2,156)	(4,625)	(4,466)
Income (loss) from continuing operations before taxes	(2,204)	(2,164)	(4,694)	(4,456)
Depreciation and amortization	3	12	10	32
Capital expenditures	0	0	0	0
Intangible assets, net	0		0		0
Total assets	101,714		101,714		90,203
Corporate | Product sales
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Trade receivables, net	0		0		0
Corporate | Processing fees
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Trade receivables, net	0		0		0
Eliminations
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Operating income (loss) before depreciation and amortization	0	0	0	0
Operating income (loss)	0	0	0	0
Income (loss) from continuing operations before taxes	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	0	0	0	0
Intangible assets, net	0		0		0
Total assets	(168,588)		(168,588)		(166,175)
Eliminations | Product sales
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Trade receivables, net	0		0		0
Eliminations | Processing fees
Segment Reporting Information [Line Items]
Total revenues	0	$ 0	0	$ 0
Trade receivables, net	$ 0		$ 0		$ 0

NET INCOME (LOSS) PER COMMON _3

NET INCOME (LOSS) PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic:
Net income (loss) from continuing operations	$ (1,859)	$ 2,507	$ 4,004	$ 4,317
Net income from continuing operations (in shares)	24,802	24,696	24,784	24,675
Net income from continuing operations (in dollars per share)	$ (0.07)	$ 0.10	$ 0.16	$ 0.17
Unvested restricted stock units (in shares)	0	395	577	414
Net loss from discontinued operations, net of tax	$ (2)	$ (103)	$ 4,855	$ (162)
Net income (loss) from discontinued operations, net of tax (in dollars per share)	$ 0	$ 0	$ 0.20	$ (0.01)
Net income (loss)	$ (1,861)	$ 2,404	$ 8,859	$ 4,155
Net income (in dollars per share)	$ (0.07)	$ 0.10	$ 0.36	$ 0.16
Diluted:
Net income (loss) from continuing operations	$ (1,859)	$ 2,507	$ 4,004	$ 4,317
Net income (loss) (in shares)	24,802	25,091	25,360	25,089
Net income (loss) from continuing operations (in dollars per share)	$ (0.07)	$ 0.10	$ 0.16	$ 0.17
Net loss from discontinued operations, net of tax	$ (2)	$ (103)	$ 4,855	$ (162)
Net income (loss) from discontinued operations, net of tax (in dollars per share)	$ 0	$ 0	$ 0.19	$ (0.01)
Net income	$ (1,861)	$ 2,404	$ 8,859	$ 4,155
Net income (loss) (in dollars per share)	$ (0.07)	$ 0.10	$ 0.35	$ 0.16
Potential common stock shares issuable upon exercise of options (in shares)			487	552

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Executive Chairman
Related Party Transaction [Line Items]
Consulting fees	$ 0	$ 0	$ 0	$ 100,000

POST-RETIREMENT OBLIGATIONS (De

POST-RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Management | Postretirement Benefits
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Post retirement liability	$ 0.3	$ 0.3

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - AMAK ر.س in Millions, $ in Millions	Jul. 28, 2020USD ($)shares	Mar. 26, 2020USD ($)shares	Mar. 26, 2020SAR (ر.س)shares	Jul. 27, 2020	Jun. 30, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Proceeds from sale of investment		$ 10.7	ر.س 40
Equity method investment, shares sold (in shares)		4,000,000	4,000,000
Percentage of ownership		33.30%	33.30%		28.30%	33.30%
Subsequent Event
Subsequent Event [Line Items]
Proceeds from sale of investment | $	$ 2.5
Equity method investment, shares sold (in shares)	1,000,000
Percentage of ownership	27.00%			28.30%