Adams Resources & Energy (AE) 10-Q16 May 222022 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2022	May 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-07908
Entity Registrant Name	ADAMS RESOURCES & ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1753147
Entity Address, Address Line One	17 South Briar Hollow Lane
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77027
City Area Code	713
Local Phone Number	881-3600
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	AE
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,367,866
Document Fiscal Year Focus	2022
Entity Central Index Key	0000002178
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 99,295	$ 97,825
Restricted cash	8,850	9,492
Accounts receivable, net of allowance for doubtful accounts of $103 and $108, respectively	212,454	137,789
Accounts receivable – related party	1	2
Inventory	42,382	18,942
Derivative assets	1,145	347
Income tax receivable	5,140	6,424
Prepayments and other current assets	1,705	2,389
Total current assets	370,972	273,210
Property and equipment, net	86,543	88,036
Operating lease right-of-use assets, net	6,699	7,113
Intangible assets, net	3,126	3,317
Other assets	2,777	3,027
Total assets	470,117	374,703
Current liabilities:
Accounts payable	259,451	168,224
Accounts payable – related party	47	0
Derivative liabilities	1,102	324
Current portion of finance lease obligations	3,293	3,663
Current portion of operating lease liabilities	2,258	2,178
Other current liabilities	10,828	11,622
Total current liabilities	276,979	186,011
Other long-term liabilities:
Asset retirement obligations	2,391	2,376
Finance lease obligations	8,903	9,672
Operating lease liabilities	4,445	4,938
Deferred taxes and other liabilities	11,878	11,320
Total liabilities	304,596	214,317
Commitments and contingencies (Note 14)
Shareholders’ equity:
Preferred stock - $1.00 par value, 960,000 shares authorized, none outstanding	0	0
Common stock - $0.10 par value, 7,500,000 shares authorized, 4,367,866 and 4,355,001 shares outstanding, respectively	435	433
Contributed capital	17,020	16,913
Retained earnings	148,066	143,040
Total shareholders’ equity	165,521	160,386
Total liabilities and shareholders’ equity	$ 470,117	$ 374,703

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Allowance for doubtful accounts	$ 103	$ 108
Shareholders’ equity:
Preferred stock - par value (in dollars per share)	$ 1	$ 1
Preferred stock - shares authorized (in shares)	960,000	960,000
Preferred stock - shares outstanding (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.10	$ 0.10
Common stock - shares authorized (in shares)	7,500,000	7,500,000
Common stock - shares outstanding (in shares)	4,367,866	4,355,001

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Total revenues	$ 774,245	$ 325,491
Costs and expenses:
General and administrative	4,018	3,376
Depreciation and amortization	5,013	5,053
Total costs and expenses	766,097	321,640
Operating earnings	8,148	3,851
Other income (expense):
Interest and other income	24	134
Interest expense	(114)	(220)
Total other (expense) income, net	(90)	(86)
Earnings before income taxes	8,058	3,765
Income tax provision	(1,968)	(957)
Net earnings	$ 6,090	$ 2,808
Earnings per share:
Basic net earnings per common share (in dollars per share)	$ 1.40	$ 0.66
Diluted net earnings per common share (in dollars per share)	1.39	0.66
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24
Marketing
Revenues:
Total revenues	$ 747,555	$ 304,023
Costs and expenses:
Cost of goods and services sold	735,647	295,207
Transportation
Revenues:
Total revenues	26,690	21,235
Costs and expenses:
Cost of goods and services sold	20,865	17,460
Pipeline and storage
Revenues:
Total revenues	0	233
Costs and expenses:
Cost of goods and services sold	$ 554	$ 544

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities:
Net earnings	$ 6,090	$ 2,808
Adjustments to reconcile net losses earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	5,013	5,053
Gains on sales of property	(491)	(83)
Provision for doubtful accounts	(5)	(1)
Stock-based compensation expense	195	185
Deferred income taxes	561	(829)
Net change in fair value contracts	(20)	(21)
Changes in assets and liabilities:
Accounts receivable	(74,660)	(11,268)
Accounts receivable/payable, affiliates	48	(13)
Inventories	(23,440)	(9,887)
Income tax receivable	1,284	1,650
Prepayments and other current assets	684	(657)
Accounts payable	91,211	36,127
Accrued liabilities	(775)	51
Other	178	(114)
Net cash provided by operating activities	5,873	23,001
Investing activities:
Property and equipment additions	(3,694)	(170)
Proceeds from property sales	856	1,005
Net cash (used in) provided by investing activities	(2,838)	835
Financing activities:
Principal repayments of finance lease obligations	(1,139)	(1,014)
Payment for financed portion of VEX acquisition	0	(2,500)
Dividends paid on common stock	(1,068)	(1,025)
Net cash used in financing activities	(2,207)	(4,539)
Increase in cash and cash equivalents, including restricted cash	828	19,297
Cash and cash equivalents, including restricted cash, at beginning of period	107,317	52,065
Cash and cash equivalents, including restricted cash, at end of period	$ 108,145	$ 71,362

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Contributed Capital	Retained Earnings
Beginning balance at Dec. 31, 2020	$ 149,092	$ 423	$ 13,340	$ 135,329
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	2,808			2,808
Stock-based compensation expense	185		185
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(31)		(31)
Dividends declared:
Common stock	(1,019)			(1,019)
Awards under LTIP	(18)			(18)
Ending balance at Mar. 31, 2021	151,017	423	13,494	137,100
Beginning balance at Dec. 31, 2021	160,386	433	16,913	143,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	6,090			6,090
Stock-based compensation expense	195		195
Vesting of restricted awards	0	2	(2)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(86)		(86)
Dividends declared:
Common stock	(1,048)			(1,048)
Awards under LTIP	(16)			(16)
Ending balance at Mar. 31, 2022	$ 165,521	$ 435	$ 17,020	$ 148,066

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24
Awards under LTIP (in dollars per share)	$ 0.24	$ 0.24

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, transportation, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). We also conduct tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with nineteen terminals across the U.S. Unless the context requires otherwise, references to “we,” “us,” “our” or “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries. We operate and report in three business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; and (iii) pipeline transportation, terminalling and storage of crude oil. See Note 7 for further information regarding our business segments. Basis of Presentation Our results of operations for the three months ended March 31, 2022 are not necessarily indicative of results expected for the full year of 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Form 10-K”) filed with the SEC on March 9, 2022. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Cash and cash equivalents $ 99,295 $ 97,825 Restricted cash: Captive insurance subsidiary (1) 8,850 9,492 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 108,145 $ 107,317 _____________ (1) $1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder represents amounts paid to our captive insurance company for insurance premiums. Common Shares Outstanding The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2022 4,355,001 Vesting of restricted stock unit awards (see Note 11) 15,966 Shares withheld to cover taxes upon vesting of restricted stock unit awards (3,101) Balance, March 31, 2022 4,367,866 Credit Agreement At March 31, 2022, we had no borrowings outstanding under our $40.0 million Credit Agreement with Wells Fargo Bank, National Association (“Credit Agreement”) and $6.1 million of letters of credit issued under the Credit Agreement at a fee of 1.75 percent per annum. At March 31, 2022, we were in compliance with all covenants under the Credit Agreement. Earnings Per Share Basic earnings (losses) per share is computed by dividing our net earnings (losses) by the weighted average number of common shares outstanding during the period. Diluted earnings (losses) per share is computed by giving effect to all potential common shares outstanding, including our shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan (“2018 LTIP”) are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 11 for further discussion). A reconciliation of the calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended March 31, 2022 2021 Earnings per share — numerator: Net earnings $ 6,090 $ 2,808 Denominator: Basic weighted average number of shares outstanding 4,359 4,246 Basic earnings per share $ 1.40 $ 0.66 Diluted earnings per share: Diluted weighted average number of shares outstanding: Common shares 4,359 4,246 Restricted stock unit awards 24 18 Performance share unit awards (1) 11 7 Total diluted shares 4,394 4,271 Diluted earnings per share $ 1.39 $ 0.66 _______________ (1) The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy. Fair value contracts consist of derivative financial instruments and are recorded as either an asset or liability measured at its fair value. Changes in fair value are recognized immediately in earnings unless the derivatives qualify for, and we elect, cash flow hedge accounting. We had no contracts designated for hedge accounting during any current reporting periods (see Note 10 for further information). Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted and signed into law in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating losses (“NOL”) incurred in tax years 2018, 2019 and 2020 to offset 100 percent of taxable income and be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. We have determined that the NOL carryback provision in the CARES Act would result in a cash benefit to us for the fiscal year 2020. We have an income tax receivable at March 31, 2022, of approximately $6.8 million for the benefit of carrying back the NOL for the fiscal year 2020 to 2015 and 2016. As we are carrying the losses back to years beginning before January 1, 2018, the receivable was recorded at the previous 35 percent federal tax rate rather than the current statutory rate of 21 percent. Inventory Inventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage expenses on our consolidated statements of operations. No charges were recognized during the three months ended March 31, 2022 and 2021. Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows. See Note 5 for additional information regarding our property and equipment. Stock-Based Compensation We measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and is amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur. See Note 11 for additional information regarding our 2018 LTIP.

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Disaggregation The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Reporting Segments Crude Oil Marketing Transportation Pipeline and storage Total Three Months Ended March 31, 2022 Revenues from contracts with customers $ 736,034 $ 26,690 $ — $ 762,724 Other (1) 11,521 — — 11,521 Total revenues $ 747,555 $ 26,690 $ — $ 774,245 Timing of revenue recognition: Goods transferred at a point in time $ 736,034 $ — $ — $ 736,034 Services transferred over time — 26,690 — 26,690 Total revenues from contracts with customers $ 736,034 $ 26,690 $ — $ 762,724 Three Months Ended March 31, 2021 Revenues from contracts with customers $ 297,475 $ 21,235 $ 233 $ 318,943 Other (1) 6,548 — — 6,548 Total revenues $ 304,023 $ 21,235 $ 233 $ 325,491 Timing of revenue recognition: Goods transferred at a point in time $ 297,475 $ — $ — $ 297,475 Services transferred over time — 21,235 233 21,468 Total revenues from contracts with customers $ 297,475 $ 21,235 $ 233 $ 318,943 _______________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying consolidated financial statements. Certain of our crude oil contracts may be with a single counterparty to provide for similar quantities of crude oil to be bought and sold at different locations. These contracts are entered into for a variety of reasons, including effecting the transportation of the commodity, to minimize credit exposure, and/or to meet the competitive demands of the customer. These buy/sell arrangements are reflected on a net revenue basis in the accompanying consolidated financial statements. Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Revenue gross-up $ 307,386 $ 134,866

Prepayments and Other Current A

Prepayments and Other Current Assets	3 Months Ended
Prepayments and Other Current Assets	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and Other Current Assets	Prepayments and Other Current Assets The components of prepayments and other current assets were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Insurance premiums $ 501 $ 641 Vendor prepayment — 602 Rents, licenses and other 1,204 1,146 Total prepayments and other current assets $ 1,705 $ 2,389

Property and Equipment

Property and Equipment	3 Months Ended
Property and Equipment	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life March 31, December 31, in Years 2022 2021 Tractors and trailers 5 – 6 $ 109,643 $ 106,558 Field equipment 2 – 5 22,904 22,851 Finance lease ROU assets (1) 3 – 6 22,349 22,349 Pipeline and related facilities 20 – 25 20,363 20,336 Linefill and base gas (2) N/A 3,922 3,922 Buildings 5 – 39 16,163 16,163 Office equipment 2 – 5 2,880 2,060 Land N/A 2,008 2,008 Construction in progress N/A 2,036 3,396 Total 202,268 199,643 Less accumulated depreciation and amortization (115,725) (111,607) Property and equipment, net $ 86,543 $ 88,036 _______________ (1) Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 13 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $11.0 million and $9.8 million at March 31, 2022 and December 31, 2021, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Depreciation and amortization, excluding amounts under finance leases $ 3,805 $ 3,913 Amortization of property and equipment under finance leases 1,208 1,140 Total depreciation and amortization $ 5,013 $ 5,053

Other Assets

Other Assets	3 Months Ended
Other Assets	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Components of other assets were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Amounts associated with liability insurance program: Insurance collateral deposits $ 405 $ 721 Excess loss fund 622 622 Accumulated interest income 489 489 Other amounts: State collateral deposits 36 36 Materials and supplies 675 574 Debt issuance costs 260 292 Other 290 293 Total other assets $ 2,777 $ 3,027 We have established certain deposits to support participation in our liability insurance program and remittance of state crude oil severance taxes and other state collateral deposits. Insurance collateral deposits are held by the insurance company to cover past or potential open claims based upon a percentage of the maximum assessment under our insurance policies. Insurance collateral deposits are invested at the discretion of our insurance carrier. Excess amounts in our loss fund represent premium payments in excess of claims incurred to date that we may be entitled to recover through settlement or commutation as claim periods are closed. Interest income is earned on the majority of amounts held by the insurance companies and will be paid to us upon settlement of policy years.

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We operate and report in three business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; and (iii) pipeline transportation, terminalling and storage of crude oil. Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude Oil Marketing Transportation Pipeline and storage Other Total Three Months Ended March 31, 2022 Segment revenues (1) $ 747,555 $ 26,718 $ 897 $ — $ 775,170 Less: Intersegment revenues (1) — (28) (897) — (925) Revenues $ 747,555 $ 26,690 $ — $ — $ 774,245 Segment operating earnings (losses) (2) 10,120 2,868 (822) — 12,166 Depreciation and amortization 1,788 2,957 268 — 5,013 Property and equipment additions (3) (4) 3,124 535 27 8 3,694 Three Months Ended March 31, 2021 Segment revenues (1) $ 304,023 $ 21,268 $ 419 $ — $ 325,710 Less: Intersegment revenues (1) — (33) (186) — (219) Revenues $ 304,023 $ 21,235 $ 233 $ — $ 325,491 Segment operating earnings (losses) (2) 7,018 774 (565) — 7,227 Depreciation and amortization 1,798 3,001 254 — 5,053 Property and equipment additions (3) (4) 210 (58) 10 8 170 _______________ (1) Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed. (2) Our crude oil marketing segment’s operating earnings included inventory liquidation gains of $8.7 million and $6.9 million for the three months ended March 31, 2022 and 2021, respectively. (3) Our segment property and equipment additions do not include assets acquired under finance leases during the three months ended March 31, 2022 and 2021. See Note 13 for further information. (4) Amounts included in property and equipment additions for Other are additions for computer equipment at our corporate headquarters, which were not attributed or allocated to any of our reporting segments. Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Segment operating earnings $ 12,166 $ 7,227 General and administrative (4,018) (3,376) Operating earnings 8,148 3,851 Interest and other income 24 134 Interest expense (114) (220) Earnings before income taxes $ 8,058 $ 3,765 Identifiable assets by business segment were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Reporting segment: Crude oil marketing $ 260,844 $ 162,770 Transportation 65,608 67,167 Pipeline and storage 25,363 25,569 Cash and other (1) 118,302 119,197 Total assets $ 470,117 $ 374,703 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates

Transactions with Affiliates	3 Months Ended
Transactions with Affiliates	Mar. 31, 2022
Related Party Transactions [Abstract]
Transactions with Affiliates	Transactions with Affiliates We enter into certain transactions in the normal course of business with affiliated entities including direct cost reimbursement for shared phone and administrative services from KSA Industries, Inc. (“KSA”), an affiliated entity. We lease our corporate office space in a building operated by 17 South Briar Hollow Lane, LLC, an affiliate of KSA. Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Affiliate billings to us $ 6 $ 12 Billings to affiliates 5 1 Rentals paid to affiliate 114 174 During the three months ended March 31, 2022, we paid West Point Buick GMC, an affiliate of KSA, a total of approximately $0.1 million (net of trade-in values) for the purchase of two pickup trucks.

Other Current Liabilities

Other Current Liabilities	3 Months Ended
Other Current Liabilities	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The components of other current liabilities were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Accrual for payroll, benefits and bonuses $ 4,038 $ 5,210 Accrued automobile and workers’ compensation claims 4,306 4,127 Accrued medical claims 1,333 1,100 Accrued taxes 458 534 Other 693 651 Total other current liabilities $ 10,828 $ 11,622

Derivative Instruments and Fair

Derivative Instruments and Fair Value Measurements	3 Months Ended
Derivative Instruments and Fair Value Measurements	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Fair Value Measurements	Derivative Instruments and Fair Value Measurements Derivative Instruments In the normal course of our operations, our crude oil marketing segment purchases and sells crude oil. We seek to profit by procuring the commodity as it is produced and then delivering the material to the end users or the intermediate use marketplace. As typical for the industry, these transactions are made pursuant to the terms of forward month commodity purchase and/or sale contracts. Some of these contracts meet the definition of a derivative instrument, and therefore, we account for these contracts at fair value, unless the normal purchase and sale exception is applicable. These types of underlying contracts are standard for the industry and are the governing document for our crude oil marketing segment. None of our derivative instruments have been designated as hedging instruments. At March 31, 2022, we had in place four commodity purchase and sale contracts which had a fair value associated with them as the contractual prices of crude oil were outside of the range of prices specified in the agreements. These commodity purchase and sale contracts encompass approximately 324 barrels per day of crude oil during April 2022 through December 2022. At December 31, 2021, we had in place four commodity purchase and sale contracts, of which two had a fair value associated with them as the contractual prices of crude oil were outside the range of prices specified in the agreements. These commodity purchase and sale contracts encompassed approximately 324 barrels per day of crude oil during January 2022 through December 2022. The estimated fair value of forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated balance sheets were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities March 31, 2022 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 1,145 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 1,102 — Less counterparty offsets — — — — As reported fair value contracts $ 1,145 $ — $ 1,102 $ — December 31, 2021 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 347 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 324 — Less counterparty offsets — — — — As reported fair value contracts $ 347 $ — $ 324 $ — We only enter into commodity contracts with creditworthy counterparties and evaluate our exposure to significant counterparties on an ongoing basis. At March 31, 2022 and December 31, 2021, we were not holding nor have we posted any collateral to support our forward month fair value derivative activity. We are not subject to any credit-risk related trigger events. We have no other financial investment arrangements that would serve to offset our derivative contracts. Forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended March 31, 2022 2021 Revenues – marketing $ 19 $ 20 Fair Value Measurements The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total March 31, 2022 Derivatives: Current assets $ — $ 1,145 $ — $ — $ 1,145 Current liabilities — (1,102) — — (1,102) Net value $ — $ 43 $ — $ — $ 43 December 31, 2021 Derivatives: Current assets $ — $ 347 $ — $ — $ 347 Current liabilities — (324) — — (324) Net value $ — $ 23 $ — $ — $ 23 These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of these inputs requires judgments. When determining fair value measurements, we make credit valuation adjustments to reflect both our own nonperformance risk and our counterparty’s nonperformance risk. When adjusting the fair value of derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements. Credit valuation adjustments utilize Level 3 inputs, such as credit scores to evaluate the likelihood of default by us or our counterparties. At March 31, 2022 and December 31, 2021, credit valuation adjustments were not significant to the overall valuation of our fair value contracts. As a result, applicable fair value assets and liabilities are included in their entirety in the fair value hierarchy.

Stock-Based Compensation Plan

Stock-Based Compensation Plan	3 Months Ended
Stock-Based Compensation Plan	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plan	Stock-Based Compensation PlanWe have in place a long-term incentive plan in which any employee or non-employee director who provides services to us is eligible to participate. The 2018 LTIP, which is overseen by the Compensation Committee of our Board of Directors, provides for the grant of various types of equity awards, of which restricted stock unit awards and performance-based compensation awards have been granted. The maximum number of shares authorized for issuance under the 2018 LTIP is 150,000 shares, and the 2018 LTIP is effective until May 8, 2028. After giving effect to awards granted and forfeitures made under the 2018 LTIP and assuming the potential achievement of the maximum amounts of the performance factors through March 31, 2022, a total of 2,261 shares were available for issuance. Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Compensation expense $ 195 $ 185 At March 31, 2022 and December 31, 2021, we had $83,500 and $82,500, respectively, of accrued dividend amounts for awards granted under the 2018 LTIP. Restricted Stock Unit Awards The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2022 38,265 $ 28.78 Granted (2) 26,796 $ 31.83 Vested (15,966) $ 28.20 Forfeited (164) $ 29.70 Restricted stock unit awards at March 31, 2022 48,931 $ 30.64 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during 2022 was $0.9 million based on a grant date market price of our common shares ranging from $31.80 to $37.42 per share. Unrecognized compensation cost associated with restricted stock unit awards was approximately $1.1 million at March 31, 2022. Due to the graded vesting provisions of these awards, we expect to recognize the remaining compensation cost for these awards over a weighted-average period of 1.7 years. Performance Share Unit Awards The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2022 21,492 $ 26.64 Granted (2) 13,458 $ 31.80 Vested — $ — Forfeited — $ — Performance share unit awards at March 31, 2022 34,950 $ 28.63 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of performance share unit awards issued during 2022 was $0.4 million based on a grant date market price of our common shares of $31.80 per share and assuming a performance factor of 100 percent.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
Supplemental Cash Flow Information	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for interest $ 114 $ 220 Cash paid for federal and state income taxes — 2 Non-cash transactions: Change in accounts payable related to property and equipment additions — (44) Property and equipment acquired under finance leases — 2,091

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2022
Leases [Abstract]
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Finance lease cost: Amortization of ROU assets $ 1,207 $ 1,140 Interest on lease liabilities 80 110 Operating lease cost 673 623 Short-term lease cost 3,781 3,212 Variable lease cost 6 1 Total lease expense $ 5,747 $ 5,086 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 673 $ 622 Operating cash flows from finance leases 80 109 Financing cash flows from finance leases 1,139 1,014 ROU assets obtained in exchange for new lease liabilities: Finance leases — 2,091 Operating leases 196 264 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2022 2021 Weighted-average remaining lease term (years): Finance leases 3.39 4.10 Operating leases 3.63 4.32 Weighted-average discount rate: Finance leases 2.6% 2.8% Operating leases 3.7% 4.2% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2022 2021 Assets Finance lease ROU assets (1) $ 11,382 $ 12,590 Operating lease ROU assets 6,699 7,113 Liabilities Current Finance lease liabilities 3,293 3,663 Operating lease liabilities 2,258 2,178 Noncurrent Finance lease liabilities 8,903 9,672 Operating lease liabilities 4,445 4,938 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at March 31, 2022 (in thousands): Finance Operating Lease Lease Remainder of 2022 $ 2,722 $ 1,923 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 12,785 7,096 Less: Interest (589) (393) Present value of lease liabilities 12,196 6,703 Less: Current portion of lease obligation (3,293) (2,258) Total long-term lease obligation $ 8,903 $ 4,445 The following table provides maturities of undiscounted lease liabilities at December 31, 2021 (in thousands): Finance Operating Lease Lease 2022 $ 3,941 $ 2,399 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 14,004 7,572 Less: Interest (669) (456) Present value of lease liabilities 13,335 7,116 Less: Current portion of lease obligation (3,663) (2,178) Total long-term lease obligation $ 9,672 $ 4,938
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Finance lease cost: Amortization of ROU assets $ 1,207 $ 1,140 Interest on lease liabilities 80 110 Operating lease cost 673 623 Short-term lease cost 3,781 3,212 Variable lease cost 6 1 Total lease expense $ 5,747 $ 5,086 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 673 $ 622 Operating cash flows from finance leases 80 109 Financing cash flows from finance leases 1,139 1,014 ROU assets obtained in exchange for new lease liabilities: Finance leases — 2,091 Operating leases 196 264 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2022 2021 Weighted-average remaining lease term (years): Finance leases 3.39 4.10 Operating leases 3.63 4.32 Weighted-average discount rate: Finance leases 2.6% 2.8% Operating leases 3.7% 4.2% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2022 2021 Assets Finance lease ROU assets (1) $ 11,382 $ 12,590 Operating lease ROU assets 6,699 7,113 Liabilities Current Finance lease liabilities 3,293 3,663 Operating lease liabilities 2,258 2,178 Noncurrent Finance lease liabilities 8,903 9,672 Operating lease liabilities 4,445 4,938 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at March 31, 2022 (in thousands): Finance Operating Lease Lease Remainder of 2022 $ 2,722 $ 1,923 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 12,785 7,096 Less: Interest (589) (393) Present value of lease liabilities 12,196 6,703 Less: Current portion of lease obligation (3,293) (2,258) Total long-term lease obligation $ 8,903 $ 4,445 The following table provides maturities of undiscounted lease liabilities at December 31, 2021 (in thousands): Finance Operating Lease Lease 2022 $ 3,941 $ 2,399 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 14,004 7,572 Less: Interest (669) (456) Present value of lease liabilities 13,335 7,116 Less: Current portion of lease obligation (3,663) (2,178) Total long-term lease obligation $ 9,672 $ 4,938

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance We have accrued liabilities for estimated workers’ compensation and other casualty claims incurred based upon claim reserves plus an estimate for loss development and incurred but not reported claims. We self-insure a significant portion of expected losses relating to workers’ compensation, general liability and automobile liability, with a self-insured retention of $1.0 million. Insurance is purchased over our retention to reduce our exposure to catastrophic events. Estimates are recorded for potential and incurred outstanding liabilities for workers’ compensation, auto and general liability claims and claims that are incurred but not reported. Estimates are based on adjusters’ estimates, historical experience and statistical methods commonly used within the insurance industry that we believe are reliable. We have also engaged a third-party actuary to perform a review of our accrued liability for these claims as well as potential funded losses in our captive insurance company. Insurance estimates include certain assumptions and management judgments regarding the frequency and severity of claims, claim development and settlement practices and the selection of estimated loss among estimates derived using different methods. Unanticipated changes in these factors may produce materially different amounts of expense that would be reported under these programs. On October 1, 2020, we elected to utilize a wholly owned insurance captive to insure the self-insured retention for our workers’ compensation, general liability and automobile liability insurance programs. All accrued liabilities associated with periods from October 1, 2017 through current were transferred to the captive. We maintain excess property and casualty programs with third-party insurers in an effort to limit the financial impact of significant events covered under these programs. Our operating subsidiaries pay premiums to both the excess and reinsurance carriers and our captive for the estimated losses based on an external actuarial analysis. These premiums held by our wholly owned captive are currently held in a restricted account, resulting in a transfer of risk from our operating subsidiaries to the captive. We also maintain a self-insurance program for managing employee medical claims in excess of employee deductibles. As claims are paid, the liability is relieved. We also maintain third party insurance stop-loss coverage for individual medical claims exceeding a certain minimum threshold . In addition, we maintain $1.2 million of umbrella insurance coverage for annual aggregate medical claims exceeding approximately $11.5 million. Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Pre-funded premiums for losses incurred but not reported $ 33 $ 50 Accrued automobile and workers’ compensation claims 4,306 4,127 Accrued medical claims 1,333 1,100 Litigation From time to time as incidental to our operations, we may become involved in various lawsuits and/or disputes. Primarily as an operator of an extensive trucking fleet, we are a party to motor vehicle accidents, worker compensation claims and other items of general liability as would be typical for the industry. We are presently unaware of any claims against us that are either outside the scope of insurance coverage or that may exceed the level of insurance coverage and could potentially represent a material adverse effect on our financial position, results of operations or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Organization	Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, transportation, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). We also conduct tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with nineteen terminals across the U.S. Unless the context requires otherwise, references to “we,” “us,” “our” or “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries.
Basis of Presentation	Basis of Presentation Our results of operations for the three months ended March 31, 2022 are not necessarily indicative of results expected for the full year of 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Form 10-K”) filed with the SEC on March 9, 2022. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of EstimatesThe preparation of our financial statements in conformity with GAAP requires management to use estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes. While we believe the estimates and assumptions used in the preparation of these condensed consolidated financial statements are appropriate, actual results could differ from those estimates.
Earnings Per Share	Earnings Per ShareBasic earnings (losses) per share is computed by dividing our net earnings (losses) by the weighted average number of common shares outstanding during the period. Diluted earnings (losses) per share is computed by giving effect to all potential common shares outstanding, including our shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan (“2018 LTIP”) are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 11 for further discussion).
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis.
Inventory	InventoryInventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage expenses on our consolidated statements of operations. No charges were recognized during the three months ended March 31, 2022 and 2021.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows.
Stock-Based Compensation	Stock-Based CompensationWe measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and is amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur.
Other Crude Oil Marketing Revenue	Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Cash and cash equivalents $ 99,295 $ 97,825 Restricted cash: Captive insurance subsidiary (1) 8,850 9,492 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 108,145 $ 107,317 _____________
Schedule of Common Stock Outstanding	The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2022 4,355,001 Vesting of restricted stock unit awards (see Note 11) 15,966 Shares withheld to cover taxes upon vesting of restricted stock unit awards (3,101) Balance, March 31, 2022 4,367,866
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended March 31, 2022 2021 Earnings per share — numerator: Net earnings $ 6,090 $ 2,808 Denominator: Basic weighted average number of shares outstanding 4,359 4,246 Basic earnings per share $ 1.40 $ 0.66 Diluted earnings per share: Diluted weighted average number of shares outstanding: Common shares 4,359 4,246 Restricted stock unit awards 24 18 Performance share unit awards (1) 11 7 Total diluted shares 4,394 4,271 Diluted earnings per share $ 1.39 $ 0.66 _______________

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
Revenue Recognition (Tables)	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Reporting Segments Crude Oil Marketing Transportation Pipeline and storage Total Three Months Ended March 31, 2022 Revenues from contracts with customers $ 736,034 $ 26,690 $ — $ 762,724 Other (1) 11,521 — — 11,521 Total revenues $ 747,555 $ 26,690 $ — $ 774,245 Timing of revenue recognition: Goods transferred at a point in time $ 736,034 $ — $ — $ 736,034 Services transferred over time — 26,690 — 26,690 Total revenues from contracts with customers $ 736,034 $ 26,690 $ — $ 762,724 Three Months Ended March 31, 2021 Revenues from contracts with customers $ 297,475 $ 21,235 $ 233 $ 318,943 Other (1) 6,548 — — 6,548 Total revenues $ 304,023 $ 21,235 $ 233 $ 325,491 Timing of revenue recognition: Goods transferred at a point in time $ 297,475 $ — $ — $ 297,475 Services transferred over time — 21,235 233 21,468 Total revenues from contracts with customers $ 297,475 $ 21,235 $ 233 $ 318,943 _______________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Revenue gross-up $ 307,386 $ 134,866

Prepayments and Other Current_2

Prepayments and Other Current Assets (Tables)	3 Months Ended
Prepayments and Other Current Assets (Tables)	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Components of Prepayments and Other Current Assets	The components of prepayments and other current assets were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Insurance premiums $ 501 $ 641 Vendor prepayment — 602 Rents, licenses and other 1,204 1,146 Total prepayments and other current assets $ 1,705 $ 2,389

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
Property and Equipment (Tables)	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and equipment	The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life March 31, December 31, in Years 2022 2021 Tractors and trailers 5 – 6 $ 109,643 $ 106,558 Field equipment 2 – 5 22,904 22,851 Finance lease ROU assets (1) 3 – 6 22,349 22,349 Pipeline and related facilities 20 – 25 20,363 20,336 Linefill and base gas (2) N/A 3,922 3,922 Buildings 5 – 39 16,163 16,163 Office equipment 2 – 5 2,880 2,060 Land N/A 2,008 2,008 Construction in progress N/A 2,036 3,396 Total 202,268 199,643 Less accumulated depreciation and amortization (115,725) (111,607) Property and equipment, net $ 86,543 $ 88,036 _______________ (1) Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 13 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $11.0 million and $9.8 million at March 31, 2022 and December 31, 2021, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Depreciation and amortization, excluding amounts under finance leases $ 3,805 $ 3,913 Amortization of property and equipment under finance leases 1,208 1,140 Total depreciation and amortization $ 5,013 $ 5,053

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Components of other assets were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Amounts associated with liability insurance program: Insurance collateral deposits $ 405 $ 721 Excess loss fund 622 622 Accumulated interest income 489 489 Other amounts: State collateral deposits 36 36 Materials and supplies 675 574 Debt issuance costs 260 292 Other 290 293 Total other assets $ 2,777 $ 3,027

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 31, 2022
Segment Reporting [Abstract]
Information concerning business activities	Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude Oil Marketing Transportation Pipeline and storage Other Total Three Months Ended March 31, 2022 Segment revenues (1) $ 747,555 $ 26,718 $ 897 $ — $ 775,170 Less: Intersegment revenues (1) — (28) (897) — (925) Revenues $ 747,555 $ 26,690 $ — $ — $ 774,245 Segment operating earnings (losses) (2) 10,120 2,868 (822) — 12,166 Depreciation and amortization 1,788 2,957 268 — 5,013 Property and equipment additions (3) (4) 3,124 535 27 8 3,694 Three Months Ended March 31, 2021 Segment revenues (1) $ 304,023 $ 21,268 $ 419 $ — $ 325,710 Less: Intersegment revenues (1) — (33) (186) — (219) Revenues $ 304,023 $ 21,235 $ 233 $ — $ 325,491 Segment operating earnings (losses) (2) 7,018 774 (565) — 7,227 Depreciation and amortization 1,798 3,001 254 — 5,053 Property and equipment additions (3) (4) 210 (58) 10 8 170 _______________ (1) Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed. (2) Our crude oil marketing segment’s operating earnings included inventory liquidation gains of $8.7 million and $6.9 million for the three months ended March 31, 2022 and 2021, respectively. (3) Our segment property and equipment additions do not include assets acquired under finance leases during the three months ended March 31, 2022 and 2021. See Note 13 for further information. (4) Amounts included in property and equipment additions for Other are additions for computer equipment at our corporate headquarters, which were not attributed or allocated to any of our reporting segments.
Reconciliation of segment earnings to earnings before income taxes	Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Segment operating earnings $ 12,166 $ 7,227 General and administrative (4,018) (3,376) Operating earnings 8,148 3,851 Interest and other income 24 134 Interest expense (114) (220) Earnings before income taxes $ 8,058 $ 3,765
Identifiable assets by industry segment	Identifiable assets by business segment were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Reporting segment: Crude oil marketing $ 260,844 $ 162,770 Transportation 65,608 67,167 Pipeline and storage 25,363 25,569 Cash and other (1) 118,302 119,197 Total assets $ 470,117 $ 374,703 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	3 Months Ended
Transactions with Affiliates (Tables)	Mar. 31, 2022
Related Party Transactions [Abstract]
Activities with affiliates	Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Affiliate billings to us $ 6 $ 12 Billings to affiliates 5 1 Rentals paid to affiliate 114 174

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
Other Current Liabilities (Tables)	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The components of other current liabilities were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Accrual for payroll, benefits and bonuses $ 4,038 $ 5,210 Accrued automobile and workers’ compensation claims 4,306 4,127 Accrued medical claims 1,333 1,100 Accrued taxes 458 534 Other 693 651 Total other current liabilities $ 10,828 $ 11,622

Derivative Instruments and Fa_2

Derivative Instruments and Fair Value Measurements (Tables)	3 Months Ended
Derivative Instruments and Fair Value Measurements (Tables)	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives reflected in the consolidated balance sheet	The estimated fair value of forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated balance sheets were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities March 31, 2022 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 1,145 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 1,102 — Less counterparty offsets — — — — As reported fair value contracts $ 1,145 $ — $ 1,102 $ — December 31, 2021 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 347 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 324 — Less counterparty offsets — — — — As reported fair value contracts $ 347 $ — $ 324 $ —
Derivatives reflected in the consolidated statement of operations	Forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended March 31, 2022 2021 Revenues – marketing $ 19 $ 20
Fair value assets and liabilities	The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total March 31, 2022 Derivatives: Current assets $ — $ 1,145 $ — $ — $ 1,145 Current liabilities — (1,102) — — (1,102) Net value $ — $ 43 $ — $ — $ 43 December 31, 2021 Derivatives: Current assets $ — $ 347 $ — $ — $ 347 Current liabilities — (324) — — (324) Net value $ — $ 23 $ — $ — $ 23

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	3 Months Ended
Stock-Based Compensation Plan (Tables)	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Arrangement	Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Compensation expense $ 195 $ 185
Share-based Compensation, Activity	The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2022 38,265 $ 28.78 Granted (2) 26,796 $ 31.83 Vested (15,966) $ 28.20 Forfeited (164) $ 29.70 Restricted stock unit awards at March 31, 2022 48,931 $ 30.64 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2022 21,492 $ 26.64 Granted (2) 13,458 $ 31.80 Vested — $ — Forfeited — $ — Performance share unit awards at March 31, 2022 34,950 $ 28.63 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of performance share unit awards issued during 2022 was $0.4 million based on a grant date market price of our common shares of $31.80 per share and assuming a performance factor of 100 percent.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
Supplemental Cash Flow Information (Tables)	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for interest $ 114 $ 220 Cash paid for federal and state income taxes — 2 Non-cash transactions: Change in accounts payable related to property and equipment additions — (44) Property and equipment acquired under finance leases — 2,091

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2022
Leases [Abstract]
Lease, Cost	The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Finance lease cost: Amortization of ROU assets $ 1,207 $ 1,140 Interest on lease liabilities 80 110 Operating lease cost 673 623 Short-term lease cost 3,781 3,212 Variable lease cost 6 1 Total lease expense $ 5,747 $ 5,086 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 673 $ 622 Operating cash flows from finance leases 80 109 Financing cash flows from finance leases 1,139 1,014 ROU assets obtained in exchange for new lease liabilities: Finance leases — 2,091 Operating leases 196 264 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2022 2021 Weighted-average remaining lease term (years): Finance leases 3.39 4.10 Operating leases 3.63 4.32 Weighted-average discount rate: Finance leases 2.6% 2.8% Operating leases 3.7% 4.2%
Assets and Liabilities, Lessee	The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2022 2021 Assets Finance lease ROU assets (1) $ 11,382 $ 12,590 Operating lease ROU assets 6,699 7,113 Liabilities Current Finance lease liabilities 3,293 3,663 Operating lease liabilities 2,258 2,178 Noncurrent Finance lease liabilities 8,903 9,672 Operating lease liabilities 4,445 4,938 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
Lessee, Operating Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at March 31, 2022 (in thousands): Finance Operating Lease Lease Remainder of 2022 $ 2,722 $ 1,923 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 12,785 7,096 Less: Interest (589) (393) Present value of lease liabilities 12,196 6,703 Less: Current portion of lease obligation (3,293) (2,258) Total long-term lease obligation $ 8,903 $ 4,445 The following table provides maturities of undiscounted lease liabilities at December 31, 2021 (in thousands): Finance Operating Lease Lease 2022 $ 3,941 $ 2,399 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 14,004 7,572 Less: Interest (669) (456) Present value of lease liabilities 13,335 7,116 Less: Current portion of lease obligation (3,663) (2,178) Total long-term lease obligation $ 9,672 $ 4,938
Finance Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at March 31, 2022 (in thousands): Finance Operating Lease Lease Remainder of 2022 $ 2,722 $ 1,923 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 12,785 7,096 Less: Interest (589) (393) Present value of lease liabilities 12,196 6,703 Less: Current portion of lease obligation (3,293) (2,258) Total long-term lease obligation $ 8,903 $ 4,445 The following table provides maturities of undiscounted lease liabilities at December 31, 2021 (in thousands): Finance Operating Lease Lease 2022 $ 3,941 $ 2,399 2023 3,143 2,080 2024 2,348 1,911 2025 3,771 394 2026 801 333 Thereafter — 455 Total lease payments 14,004 7,572 Less: Interest (669) (456) Present value of lease liabilities 13,335 7,116 Less: Current portion of lease obligation (3,663) (2,178) Total long-term lease obligation $ 9,672 $ 4,938

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of expenses and losses incurred but not reported and accrued workers' compensation	Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): March 31, December 31, 2022 2021 Pre-funded premiums for losses incurred but not reported $ 33 $ 50 Accrued automobile and workers’ compensation claims 4,306 4,127 Accrued medical claims 1,333 1,100

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	3 Months Ended
Organization and Basis of Presentation (Details)	Mar. 31, 2022segmentstate
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which entity operates \| state	48
Number of operating segments	3
Number of reportable segments	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Reconciliation of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 99,295	$ 97,825
Restricted cash	8,850	9,492
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows	108,145	107,317	$ 71,362	$ 52,065
Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	8,850	$ 9,492
Initial Capitalization
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Common Shares Outstanding (Details)	3 Months Ended
	Mar. 31, 2022shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	4,355,001
Vesting of restricted stock unit awards (in shares)	15,966
Shares withheld to cover taxes upon vesting of restricted stock unit awards (in shares)	(3,101)
Ending balance (in shares)	4,367,866

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Letters of Credit Facility (Details) - Credit Agreement - Wells Fargo Bank	3 Months Ended
	Mar. 31, 2022USD ($)
Line of Credit Facility [Line Items]
Borrowings outstanding	$ 0
Line of credit facility, maximum borrowing capacity	40,000,000
Stand-by letters of credit	$ 6,100,000
Standby Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee	1.75%

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Reconciliation of Basic and Diluted Earnings (Losses) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Basic earnings per share:
Net earnings	$ 6,090	$ 2,808
Basic weighted average number of shares outstanding (in shares)	4,359	4,246
Basic earnings (losses) per share (in dollars per share)	$ 1.40	$ 0.66
Diluted weighted average number of shares outstanding:
Common shares (in shares)	4,359	4,246
Total diluted shares (in shares)	4,394	4,271
Diluted earnings (losses) per share (in dollars per share)	$ 1.39	$ 0.66
Restricted stock units awards
Diluted weighted average number of shares outstanding:
Unit awards (in shares)	24	18
Performance share unit awards
Diluted weighted average number of shares outstanding:
Unit awards (in shares)	11	7

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Fair Value (Details)	Mar. 31, 2022contract
Hedging accounting
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of contracts held	0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Equity at the Market Offering, Income Taxes, Inventory and Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
CARES Act, cash benefits for the fiscal year 2020	$ 6,800,000
Inventory write-down	$ 0	$ 0
Minimum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	39 years

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 762,724	$ 318,943
Total revenues	774,245	325,491
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	736,034	297,475
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	26,690	21,468
Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	762,724	318,943
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	11,521	6,548
Crude Oil Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	736,034	297,475
Total revenues	747,555	304,023
Crude Oil Marketing \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	736,034	297,475
Crude Oil Marketing \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Crude Oil Marketing \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	736,034	297,475
Crude Oil Marketing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	11,521	6,548
Transportation
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	26,690	21,235
Total revenues	26,690	21,235
Transportation \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Transportation \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	26,690	21,235
Transportation \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	26,690	21,235
Transportation \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Pipeline and storage
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	233
Total revenues	0	233
Pipeline and storage \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Pipeline and storage \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	233
Pipeline and storage \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	233
Pipeline and storage \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0

Revenue Recognition - Other Rev

Revenue Recognition - Other Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue gross-up	$ 307,386	$ 134,866

Prepayments and Other Current_3

Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance premiums	$ 501	$ 641
Vendor prepayment	0	602
Rents, licenses and other	1,204	1,146
Total prepayments and other current assets	$ 1,705	$ 2,389

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 202,268		$ 199,643
Less accumulated depreciation and amortization	(115,725)		(111,607)
Property and equipment, net	86,543		88,036
Total depreciation and amortization	5,013	$ 5,053
Assets not held under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	3,805	3,913
Assets held under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	$ 1,208	$ 1,140
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years
Tractors and trailers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 109,643		106,558
Tractors and trailers \| Assets held under finance leases
Property, Plant and Equipment [Line Items]
Less accumulated depreciation and amortization	$ (11,000)		(9,800)
Tractors and trailers \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Tractors and trailers \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Field equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22,904		22,851
Field equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Field equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Finance lease ROU assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22,349		22,349
Finance lease ROU assets \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Finance lease ROU assets \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Pipeline and related facilities
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,363		20,336
Pipeline and related facilities \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years
Pipeline and related facilities \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years
Linefill and base gas
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,922		3,922
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 16,163		16,163
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,880		2,060
Office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,008		2,008
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,036		$ 3,396

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance collateral deposits	$ 405	$ 721
Excess loss fund	622	622
Accumulated interest income	489	489
State collateral deposits	36	36
Materials and supplies	675	574
Debt issuance costs	260	292
Other	290	293
Total other assets	$ 2,777	$ 3,027

Segment Reporting - Information

Segment Reporting - Information Concerning Business Activities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	3
Number of operating segments \| segment	3
Segment Reporting Information [Line Items]
Revenues	$ 774,245	$ 325,491
Segment operating earnings (losses)	8,148	3,851
Depreciation and amortization	5,013	5,053
Property and equipment additions	3,694	170
Crude Oil Marketing
Segment Reporting Information [Line Items]
Revenues	747,555	304,023
Depreciation and amortization	1,788	1,798
Property and equipment additions	3,124	210
Inventory liquidation gains (losses)	8,700	6,900
Transportation
Segment Reporting Information [Line Items]
Revenues	26,690	21,235
Depreciation and amortization	2,957	3,001
Property and equipment additions	535	(58)
Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	0	233
Depreciation and amortization	268	254
Property and equipment additions	27	10
Operating segments
Segment Reporting Information [Line Items]
Revenues	775,170	325,710
Segment operating earnings (losses)	12,166	7,227
Operating segments \| Crude Oil Marketing
Segment Reporting Information [Line Items]
Revenues	747,555	304,023
Segment operating earnings (losses)	10,120	7,018
Operating segments \| Transportation
Segment Reporting Information [Line Items]
Revenues	26,718	21,268
Segment operating earnings (losses)	2,868	774
Operating segments \| Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	897	419
Segment operating earnings (losses)	(822)	(565)
Intersegment
Segment Reporting Information [Line Items]
Revenues	(925)	(219)
Intersegment \| Crude Oil Marketing
Segment Reporting Information [Line Items]
Revenues	0	0
Intersegment \| Transportation
Segment Reporting Information [Line Items]
Revenues	(28)	(33)
Intersegment \| Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	(897)	(186)
Other
Segment Reporting Information [Line Items]
Revenues	0	0
Segment operating earnings (losses)	0	0
Depreciation and amortization	0	0
Property and equipment additions	$ 8	$ 8

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Earnings to Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating earnings	$ 8,148	$ 3,851
General and administrative	(4,018)	(3,376)
Interest and other income	24	134
Interest expense	(114)	(220)
Earnings before income taxes	8,058	3,765
Operating segments
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating earnings	12,166	7,227
General and administrative
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating earnings	0	0
General and administrative	(4,018)	(3,376)
Segment reconciling items
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Interest and other income	24	134
Interest expense	$ (114)	$ (220)

Segment Reporting - Identifiabl

Segment Reporting - Identifiable Assets by Industry Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Segment Reconciliation [Abstract]
Total assets	$ 470,117	$ 374,703
Operating segments
Segment Reconciliation [Abstract]
Total assets	470,117	374,703
Operating segments \| Crude Oil Marketing
Segment Reconciliation [Abstract]
Total assets	260,844	162,770
Operating segments \| Transportation
Segment Reconciliation [Abstract]
Total assets	65,608	67,167
Operating segments \| Pipeline and storage
Segment Reconciliation [Abstract]
Total assets	25,363	25,569
Cash and other
Segment Reconciliation [Abstract]
Total assets	$ 118,302	$ 119,197

Transactions with Affiliates (D

Transactions with Affiliates (Details) $ in Thousands	3 Months Ended
Transactions with Affiliates (Details) $ in Thousands	Mar. 31, 2022USD ($)truck	Mar. 31, 2021USD ($)
Transactions with Affiliates [Abstract]
Billings to affiliates	$ 762,724	$ 318,943
Affiliated entities
Transactions with Affiliates [Abstract]
Affiliate billings to us	6	12
Billings to affiliates	5	1
Rentals paid to affiliate	114	$ 174
Asset acquisition	$ 100
Number of pickup tracks purchased \| truck	2

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrual for payroll, benefits and bonuses	$ 4,038	$ 5,210
Accrued automobile and workers’ compensation claims	4,306	4,127
Accrued medical claims	1,333	1,100
Accrued taxes	458	534
Other	693	651
Total other current liabilities	$ 10,828	$ 11,622

Derivative Instruments and Fa_3

Derivative Instruments and Fair Value Measurements - Narrative (Details) - Commodity Contract	3 Months Ended	12 Months Ended
	Mar. 31, 2022barrel_of_oil_per_daycontract	Dec. 31, 2021barrel_of_oil_per_daycontract
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held \| contract	4	4
Number of contracts held, fair value \| contract		2
April 2022 through December 2022
Derivative Instruments, Gain (Loss) [Line Items]
Production \| barrel_of_oil_per_day	324
January 2022 through December 2022
Derivative Instruments, Gain (Loss) [Line Items]
Production \| barrel_of_oil_per_day		324

Derivative Instruments and Fa_4

Derivative Instruments and Fair Value Measurements - Use of Derivative Instruments (Details) - Commodity Contract - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 1,145	$ 347
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	1,145	347
Other Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	0	0
Current Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	1,102	324
Less counterparty offsets	0	0
As reported fair value contracts	1,102	324
Other Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	$ 0	$ 0

Derivative Instruments and Fa_5

Derivative Instruments and Fair Value Measurements - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues – marketing \| Not Designated as Hedging Instrument \| Commodity Contract
Derivative [Line Items]
Gain (loss) on derivative	$ 19	$ 20

Derivative Instruments and Fa_6

Derivative Instruments and Fair Value Measurements - Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives:
Current assets	$ 1,145	$ 347
Current assets, counterparty offsets	0	0
Current liabilities	(1,102)	(324)
Current liabilities, counterparty offsets	0	0
Net value	43	23
Net value, counterparty offsets	0	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	0	0
Significant Other Observable Inputs (Level 2)
Derivatives:
Current assets	1,145	347
Current liabilities	(1,102)	(324)
Net value	43	23
Significant Unobservable Inputs (Level 3)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	$ 0	$ 0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan (Details) - The 2018 LTIP - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	May 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	2,261			150,000
Compensation expense	$ 195,000	$ 185,000
Accrued dividends	$ 83,500		$ 82,500
Restricted stock units awards
Number of Shares
Unit awards, beginning balance (in shares)	38,265
Granted (in shares)	26,796
Vested (in shares)	(15,966)
Forfeited (in shares)	(164)
Unit awards, ending balance (in shares)	48,931
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 28.78
Granted (in dollars per share)	31.83
Vested (in dollars per share)	28.20
Forfeited (in dollars per share)	29.70
Unit awards, ending balance (in dollars per share)	$ 30.64
Aggregate grant date fair value awards issues	$ 900,000
Unrecognized compensation cost	$ 1,100,000
Period for recognition for remaining compensation cost	1 year 8 months 12 days
Restricted stock units awards \| Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 31.80
Restricted stock units awards \| Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 37.42
Performance share unit awards
Number of Shares
Unit awards, beginning balance (in shares)	21,492
Granted (in shares)	13,458
Vested (in shares)	0
Forfeited (in shares)	0
Unit awards, ending balance (in shares)	34,950
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 26.64
Granted (in dollars per share)	31.80
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0
Unit awards, ending balance (in dollars per share)	$ 28.63
Aggregate grant date fair value awards issues	$ 400,000
Performance factor	100000.00%
Unrecognized compensation cost	$ 700,000
Period for recognition for remaining compensation cost	2 years 4 months 24 days

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 114	$ 220
Cash paid for federal and state income taxes	0	2
Non-cash transactions:
Change in accounts payable related to property and equipment additions	0	(44)
Property and equipment acquired under finance leases	$ 0	$ 2,091

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Lease, Cost [Abstract]
Amortization of ROU assets	$ 1,207	$ 1,140
Interest on lease liabilities	80	110
Operating lease cost	673	623
Short-term lease cost	3,781	3,212
Variable lease cost	6	1
Total lease expense	5,747	5,086
Operating cash flows from operating leases	673	622
Operating cash flows from finance leases	80	109
Financing cash flows from finance leases	1,139	1,014
ROU assets obtained in exchange for new lease liabilities, Finance leases	0	2,091
ROU assets obtained in exchange for new lease liabilities, Operating leases	$ 196	$ 264
Weighted-average remaining lease term (years), Finance leases	3 years 4 months 20 days	4 years 1 month 6 days
Weighted-average remaining lease term (years), Operating leases	3 years 7 months 17 days	4 years 3 months 25 days
Weighted-average discount rate, Finance leases	2.60%	2.80%
Weighted-average discount rate, Operating leases	3.70%	4.20%
Assets and Liabilities, Lessee [Abstract]
Finance lease ROU assets	$ 11,382		$ 12,590
Operating lease ROU assets	6,699		7,113
Finance lease liabilities, Current	3,293		3,663
Operating lease liabilities, Current	2,258		2,178
Finance lease liabilities, Noncurrent	8,903		9,672
Operating lease liabilities, Noncurrent	4,445		4,938
Finance Lease Liabilities, Payments
Remainder of 2022	2,722
2023	3,143		3,941
2024	2,348		3,143
2025	3,771		2,348
2026	801		3,771
Thereafter	0
2026			801
Thereafter			0
Total lease payments	12,785		14,004
Less: Interest	(589)		(669)
Present value of lease liabilities	12,196		13,335
Less: Current portion of lease obligation	(3,293)		(3,663)
Finance lease obligations	8,903		9,672
Operating Lease Liabilities, Payments Due
Remainder of 2020	1,923
2023	2,080		2,399
2024	1,911		2,080
2025	394		1,911
2026	333		394
Thereafter	455
2024			333
Thereafter			455
Total lease payments	7,096		7,572
Less: Interest	(393)		(456)
Present value of lease liabilities	6,703		7,116
Less: Current portion of lease obligation	(2,258)		(2,178)
Total long-term lease obligation	$ 4,445		$ 4,938

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
Self-insured retention	$ 1,000,000
Umbrellas insurance coverage	1,200,000
Aggregate medical claims for umbrella insurance coverage per calendar year	$ 11,500,000

Commitments and Contingencies_2

Commitments and Contingencies - Pre-funded Insurance (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Pre-funded premiums for losses incurred but not reported	$ 33	$ 50
Accrued automobile and workers’ compensation claims	4,306	4,127
Accrued medical claims	$ 1,333	$ 1,100