Adams Resources & Energy (AE) 10-Q12 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-07908
Entity Registrant Name	ADAMS RESOURCES & ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1753147
Entity Address, Address Line One	17 South Briar Hollow Lane
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77027
City Area Code	713
Local Phone Number	881-3600
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	AE
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,577,872
Entity Central Index Key	0000002178
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 25,089	$ 33,256
Restricted cash	10,448	11,990
Accounts receivable, net of allowance for credit losses of $42 and $117, respectively	144,334	164,295
Inventory	30,028	19,827
Income tax receivable	823	0
Prepayments and other current assets	2,322	3,103
Total current assets	213,044	232,471
Property and equipment, net	99,607	105,065
Operating lease right-of-use assets, net	3,971	5,832
Intangible assets, net	6,743	7,985
Goodwill	6,673	6,673
Other assets	2,956	3,308
Total assets	332,994	361,334
Current liabilities:
Current portion of finance lease obligations	5,843	6,206
Current portion of operating lease liabilities	1,688	2,829
Current portion of long-term debt	2,500	2,500
Other current liabilities	16,720	16,150
Total current liabilities	205,368	210,787
Other long-term liabilities:
Long-term debt	12,500	19,375
Asset retirement obligations	2,551	2,514
Finance lease obligations	15,248	19,685
Operating lease liabilities	2,293	3,006
Deferred taxes and other liabilities	10,254	13,251
Total liabilities	248,214	268,618
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, 2,577,872 and 2,547,154 shares outstanding, respectively	256	253
Contributed capital	23,066	21,802
Retained earnings	61,458	70,661
Total shareholders’ equity	84,780	92,716
Total liabilities and shareholders’ equity	332,994	361,334
Nonrelated Party
Current liabilities:
Accounts payable	$ 178,617	$ 183,102

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Allowance for doubtful accounts	$ 42	$ 117
Shareholders’ equity:
Preferred stock - par value (in dollars per share)	$ 1	$ 1
Preferred stock - shares authorized (in shares)	960,000	960,000
Preferred stock - shares outstanding (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.10	$ 0.10
Common stock - shares authorized (in shares)	7,500,000	7,500,000
Common stock - shares outstanding (in shares)	2,577,872	2,547,154

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 695,163	$ 760,614	$ 2,074,706	$ 2,035,542
Costs and expenses:
General and administrative	4,520	4,162	13,755	10,649
Depreciation and amortization	5,752	6,936	18,287	21,289
Total costs and expenses	700,725	756,689	2,083,064	2,032,467
Operating (losses) earnings	(5,562)	3,925	(8,358)	3,075
Other income (expense):
Interest and other income	528	119	1,662	893
Interest expense	(572)	(1,027)	(2,036)	(2,525)
Total other expense, net	(44)	(908)	(374)	(1,632)
(Losses) Earnings before income taxes	(5,606)	3,017	(8,732)	1,443
Income tax benefit (provision)	1,066	(759)	1,465	(357)
Net (losses) earnings	$ (4,540)	$ 2,258	$ (7,267)	$ 1,086
(Losses) Earnings per share:
Basic net (losses) earnings per common share (in dollars per share)	$ (1.76)	$ 0.89	$ (2.83)	$ 0.43
Diluted net (losses) earnings per common share (in dollars per share)	(1.76)	0.88	(2.83)	0.42
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24	$ 0.72	$ 0.72
Marketing
Revenues:
Total revenues	$ 660,842	$ 719,925	$ 1,967,491	$ 1,913,673
Costs and expenses:
Cost of goods and services sold	657,191	710,169	1,948,591	1,894,416
Transportation
Revenues:
Total revenues	21,758	24,206	67,745	75,103
Costs and expenses:
Cost of goods and services sold	19,778	19,642	59,284	62,315
Pipeline and storage
Revenues:
Total revenues	43	59	67	308
Costs and expenses:
Cost of goods and services sold	929	659	2,568	2,350
Logistics and repurposing
Revenues:
Total revenues	12,520	16,424	39,403	46,458
Costs and expenses:
Cost of goods and services sold	$ 12,555	$ 15,121	$ 40,579	$ 41,448

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net (losses) earnings	$ (7,267)	$ 1,086
Adjustments to reconcile net (losses) earnings to net cash provided by operating activities:
Depreciation and amortization	18,287	21,289
Gains on sales of property	(912)	(1,429)
Provision for credit losses	(75)	29
Stock-based compensation expense	1,181	1,044
Change in contingent consideration liability	0	(2,566)
Deferred income taxes	(2,709)	3
Net change in fair value contracts	0	(335)
Changes in assets and liabilities:
Accounts receivable	20,172	(30,253)
Accounts receivable/payable, affiliates	0	(31)
Inventories	(10,201)	(731)
Income tax receivable/payable	(823)	(510)
Prepayments and other current assets	781	648
Accounts payable	(4,574)	22,239
Accrued liabilities	649	(2,709)
Other	194	64
Net cash provided by operating activities	14,703	7,838
Investing activities:
Property and equipment additions	(13,316)	(8,917)
Proceeds from property sales	2,506	3,078
Net cash used in investing activities	(10,810)	(5,839)
Financing activities:
Borrowings under Credit Agreement	0	76,000
Repayments under Credit Agreement	(6,875)	(77,875)
Principal repayments of finance lease obligations	(4,800)	(4,944)
Net proceeds from sale of equity	0	549
Dividends paid on common stock	(1,927)	(1,908)
Net cash used in financing activities	(13,602)	(8,178)
Decrease in cash and cash equivalents, including restricted cash	(9,709)	(6,179)
Cash and cash equivalents, including restricted cash, at beginning of period	45,246	31,067
Cash and cash equivalents, including restricted cash, at end of period	$ 35,537	$ 24,888

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, 2022	$ 93,177	$ 248	$ 19,965	$ 72,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(1,999)			(1,999)
Stock-based compensation expense	283		283
Vesting of restricted awards	0	3	(3)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(222)		(222)
Shares sold under at-the-market offering program	549	1	548
Dividends declared:
Common stock, $0.24/share	(608)			(608)
Awards under LTIP, $0.24/share	(25)			(25)
Ending balance at Mar. 31, 2023	91,155	252	20,571	70,332
Beginning balance at Dec. 31, 2022	93,177	248	19,965	72,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	1,086
Ending balance at Sep. 30, 2023	94,061	253	21,653	72,155
Beginning balance at Mar. 31, 2023	91,155	252	20,571	70,332
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	827			827
Stock-based compensation expense	372		372
Dividends declared:
Common stock, $0.24/share	(608)			(608)
Awards under LTIP, $0.24/share	(25)			(25)
Ending balance at Jun. 30, 2023	91,721	252	20,943	70,526
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	2,258			2,258
Stock-based compensation expense	389		389
Vesting of restricted awards	322	1	321
Dividends declared:
Common stock, $0.24/share	(609)			(609)
Awards under LTIP, $0.24/share	(20)			(20)
Ending balance at Sep. 30, 2023	94,061	253	21,653	72,155
Beginning balance at Dec. 31, 2023	92,716	253	21,802	70,661
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(498)			(498)
Stock-based compensation expense	307		307
Vesting of restricted awards	0	3	(3)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(228)	(1)	(227)
Dividends declared:
Common stock, $0.24/share	(615)			(615)
Awards under LTIP, $0.24/share	(28)			(28)
Ending balance at Mar. 31, 2024	91,654	255	21,879	69,520
Beginning balance at Dec. 31, 2023	92,716	253	21,802	70,661
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(7,267)
Ending balance at Sep. 30, 2024	84,780	256	23,066	61,458
Beginning balance at Mar. 31, 2024	91,654	255	21,879	69,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(2,229)			(2,229)
Stock-based compensation expense	451		451
Dividends declared:
Common stock, $0.24/share	(615)			(615)
Awards under LTIP, $0.24/share	(31)			(31)
Ending balance at Jun. 30, 2024	89,230	255	22,330	66,645
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(4,540)			(4,540)
Stock-based compensation expense	423		423
Vesting of restricted awards	314	1	313
Dividends declared:
Common stock, $0.24/share	(618)			(618)
Awards under LTIP, $0.24/share	(29)			(29)
Ending balance at Sep. 30, 2024	$ 84,780	$ 256	$ 23,066	$ 61,458

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24
Awards under LTIP (in dollars per share)	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, truck and pipeline transportation of crude oil, and terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). In addition, we conduct tank truck transportation of liquid chemicals and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with sixteen terminals across the U.S. We also recycle and repurpose off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” “Adams” or the “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries. We operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals. See Note 7 for further information regarding our business segments. Basis of Presentation Our results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of results expected for the full year of 2024. 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, 2023 (the “2023 Form 10-K”) filed with the SEC on March 13, 2024. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Cash and cash equivalents $ 25,089 $ 33,256 Restricted cash: Collateral for outstanding letters of credit (1) 112 111 Captive insurance subsidiary (2) 10,336 11,879 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 35,537 $ 45,246 _____________ (1) Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit. (2) $1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder primarily represents cash amounts held by 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, 2024 2,547,154 Vesting of restricted stock unit awards (see Note 11) 19,334 Vesting of performance share unit awards (see Note 11) 6,318 Shares withheld to cover taxes upon vesting of equity awards (6,157) Balance, March 31, 2024 2,566,649 Vesting of restricted stock unit awards (see Note 11) 924 Vesting of performance share unit awards (see Note 11) 127 Balance, June 30, 2024 2,567,700 Vesting of shares issued 10,172 Balance, September 30, 2024 2,577,872 Earnings Per Share Basic earnings per share is computed by dividing our net earnings (losses) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by giving effect to all potential common shares outstanding, including shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, as amended and restated (“2018 LTIP”), or granted as employment inducement awards outside of the 2018 LTIP, are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 11 for further discussion). A reconciliation of the calculation of basic and diluted (losses) earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Losses) Earnings per share — numerator: Net (losses) earnings $ (4,540) $ 2,258 $ (7,267) $ 1,086 Denominator: Basic weighted average number of shares outstanding 2,573 2,541 2,565 2,531 Basic net (losses) earnings per share $ (1.76) $ 0.89 $ (2.83) $ 0.43 Diluted (losses) earnings per share: Diluted weighted average number of shares outstanding: Common shares 2,573 2,541 2,565 2,531 Restricted stock unit awards (1) — 15 — 15 Performance share unit awards (1) (2) — 14 — 18 Total diluted shares 2,573 2,570 2,565 2,564 Diluted net (losses) earnings per share $ (1.76) $ 0.88 $ (2.83) $ 0.42 _______________ (1) For the three and nine months ended September 30, 2024, the effect of the restricted stock unit awards and the performance share unit awards on losses per share was anti-dilutive. (2) The dilutive effect of performance share awards is 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. The fair value of the term loan under our credit agreement (see Note 10 for further information) is representative of the carrying value based upon the variable terms and management’s opinion that the current rates available to us with the same maturity and security structure are equivalent to that of the debt. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy. Fair value contracts consist of derivative financial instruments and are recorded as either an asset or liability measured at its fair value. Changes in fair value are recognized immediately in earnings unless the derivatives qualify for, and we elect, cash flow hedge accounting. We had no contracts designated for hedge accounting outstanding during any current reporting periods. 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 Inventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage costs and expenses on our unaudited condensed consolidated statements of operations. Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows. See Note 5 for additional information regarding our property and equipment. Stock-Based Compensation We measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the condensed 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	9 Months Ended
Revenue Recognition	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Disaggregation The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Crude oil marketing: Revenue from contracts with customers: Goods transferred at a point in time $ 659,422 $ 710,010 $ 1,937,229 $ 1,878,735 Services transferred over time — 427 31 763 Total revenues from contracts with customers 659,422 710,437 1,937,260 1,879,498 Other (1) 1,420 9,488 30,231 34,175 Total crude oil marketing revenue $ 660,842 $ 719,925 $ 1,967,491 $ 1,913,673 Transportation: Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 21,758 24,206 67,745 75,103 Total revenues from contracts with customers 21,758 24,206 67,745 75,103 Other — — — — Total transportation revenue $ 21,758 $ 24,206 $ 67,745 $ 75,103 Pipeline and storage: (2) Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 43 59 67 308 Total revenues from contracts with customers 43 59 67 308 Other — — — — Total pipeline and storage revenue $ 43 $ 59 $ 67 $ 308 Logistics and repurposing: Revenue from contracts with customers: Goods transferred at a point in time $ 6,556 $ 8,545 $ 19,739 $ 25,708 Services transferred over time 5,964 7,879 19,664 20,750 Total revenues from contracts with customers 12,520 16,424 39,403 46,458 Other — — — — Total logistics and repurposing revenue $ 12,520 $ 16,424 $ 39,403 $ 46,458 Subtotal: Total revenues from contracts with customers $ 693,743 $ 751,126 $ 2,044,475 $ 2,001,367 Total other (1) 1,420 9,488 30,231 34,175 Total consolidated revenues $ 695,163 $ 760,614 $ 2,074,706 $ 2,035,542 ________________________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . (2) The substantial majority of pipeline and storage revenue earned during the three and nine months ended September 30, 2024 and 2023, was from an affiliated shipper, GulfMark Energy, Inc. (“GulfMark”), our subsidiary, and eliminated in consolidation. See Note 7. Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying unaudited condensed consolidated financial statements. Certain of our crude oil contracts may be with a single counterparty to provide for similar quantities of crude oil to be bought and sold at different locations. These contracts are entered into for a variety of reasons, including effecting the transportation of the commodity, to minimize credit exposure, and/or to meet the competitive demands of the customer. These buy/sell arrangements are reflected on a net revenue basis in the accompanying unaudited condensed consolidated financial statements. Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue gross-up $ 96,236 $ 257,965 $ 218,394 $ 785,636

Prepayments and Other Current A

Prepayments and Other Current Assets	9 Months Ended
Prepayments and Other Current Assets	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and Other Current Assets	Prepayments and Other Current Assets The components of prepayments and other current assets were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Insurance premiums $ 258 $ 798 Rents, licenses and other 2,064 2,305 Total prepayments and other current assets $ 2,322 $ 3,103

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life September 30, December 31, in Years 2024 2023 Tractors and trailers 5 – 6 $ 117,113 $ 119,265 Field equipment 2 – 5 25,085 25,024 Finance lease ROU assets (1) 3 – 6 35,039 35,724 Pipeline and related facilities 20 – 25 20,619 20,397 Linefill and base gas (2) N/A 4,135 3,922 Buildings 5 – 39 17,078 17,089 Office equipment 2 – 5 3,025 3,000 Land N/A 4,163 4,163 Construction in progress N/A 8,495 3,385 Total 234,752 231,969 Less accumulated depreciation and amortization (135,145) (126,904) Property and equipment, net $ 99,607 $ 105,065 _______________ (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 and a tank storage and throughput arrangement (see Note 13 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $15.7 million and $11.0 million at September 30, 2024 and December 31, 2023, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Depreciation and amortization, excluding amounts under finance leases $ 3,563 $ 4,523 $ 11,589 $ 14,260 Amortization of property and equipment under finance leases 1,788 1,983 5,456 5,691 Amortization of intangible assets 401 430 1,242 1,338 Total depreciation and amortization $ 5,752 $ 6,936 $ 18,287 $ 21,289

Other Assets

Other Assets	9 Months Ended
Other Assets	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Components of other assets were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Insurance collateral deposits $ 605 $ 605 State collateral deposits 23 23 Materials and supplies 948 1,050 Debt issuance costs 1,007 1,259 Other 373 371 Total other assets $ 2,956 $ 3,308

Segment Reporting

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWe operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals. Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude oil marketing Trans-portation Pipeline and storage Logistics and repurposing Other Total Three Months Ended September 30, 2024 Segment revenues (1) $ 660,856 $ 21,810 $ 1,052 $ 13,570 $ — $ 697,288 Less: Intersegment revenues (1) (14) (52) (1,009) (1,050) — (2,125) Revenues $ 660,842 $ 21,758 $ 43 $ 12,520 $ — $ 695,163 Segment operating earnings (losses) (2) 2,284 (542) (1,147) (1,637) — (1,042) Depreciation and amortization 1,367 2,522 261 1,602 — 5,752 Property and equipment additions (3) (4) 65 1,463 243 2,856 179 4,806 Three Months Ended September 30, 2023 Segment revenues (1) $ 719,925 $ 24,333 $ 770 $ 16,457 $ — $ 761,485 Less: Intersegment revenues (1) — (127) (711) (33) — (871) Revenues $ 719,925 $ 24,206 $ 59 $ 16,424 $ — $ 760,614 Segment operating earnings (losses) (2) 7,664 1,558 (866) (269) — 8,087 Depreciation and amortization 2,092 3,006 266 1,572 — 6,936 Property and equipment additions (3) 140 1,416 182 1,271 — 3,009 Nine Months Ended September 30, 2024 Segment revenues (1) $ 1,967,515 $ 67,906 $ 3,234 $ 42,752 $ — $ 2,081,407 Less: Intersegment revenues (1) (24) (161) (3,167) (3,349) — (6,701) Revenues $ 1,967,491 $ 67,745 $ 67 $ 39,403 $ — $ 2,074,706 Segment operating earnings (losses) (2) 14,499 308 (3,298) (6,112) — 5,397 Depreciation and amortization 4,401 8,153 797 4,936 — 18,287 Property and equipment additions (3) (4) 3,685 4,374 439 4,639 179 13,316 Nine Months Ended September 30, 2023 Segment revenues (1) $ 1,913,673 $ 75,439 $ 2,473 $ 48,984 $ — $ 2,040,569 Less: Intersegment revenues (1) — (336) (2,165) (2,526) — (5,027) Revenues $ 1,913,673 $ 75,103 $ 308 $ 46,458 $ — $ 2,035,542 Segment operating earnings (losses) (2) 12,922 3,515 (2,846) 133 — 13,724 Depreciation and amortization 6,335 9,273 804 4,877 — 21,289 Property and equipment additions (3) (4) 809 2,754 1,423 3,819 112 8,917 _______________ (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 valuation losses of $2.1 million and liquidation gains of $4.9 million for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, our crude oil marketing segment’s operating earnings included inventory valuation losses of $0.8 million and inventory liquidation gains of $2.9 million, respectively. (3) Our segment property and equipment additions do not include assets acquired under finance leases during the three and nine months ended September 30, 2024 and 2023. See Note 13 for further information. (4) Amounts included in property and equipment additions for Other are additions for computer and other office equipment and a company vehicle at our corporate headquarters, which were not attributed or allocated to any of our reporting segments. Segment operating (losses) earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to (losses) earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Segment operating (losses) earnings $ (1,042) $ 8,087 $ 5,397 $ 13,724 General and administrative (4,520) (4,162) (13,755) (10,649) Operating (losses) earnings (5,562) 3,925 (8,358) 3,075 Interest and other income 528 119 1,662 893 Interest expense (572) (1,027) (2,036) (2,525) (Losses) earnings before income taxes $ (5,606) $ 3,017 $ (8,732) $ 1,443 Identifiable assets by business segment were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Reporting segment: Crude oil marketing $ 172,033 $ 185,285 Transportation 52,831 57,653 Pipeline and storage 25,043 25,027 Logistics and repurposing 42,712 43,258 Cash and other (1) 40,375 50,111 Total assets $ 332,994 $ 361,334 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates

Transactions with Affiliates	9 Months Ended
Transactions with Affiliates	Sep. 30, 2024
Related Party Transactions [Abstract]
Transactions with Affiliates	Transactions with Affiliates We enter into certain transactions in the normal course of business with affiliated entities. Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Crude oil purchases from affiliate (1) $ 3,921 $ 9,362 $ 13,065 $ 13,940 Rentals paid to affiliates of Scott Bosard (2) 146 125 434 405 Billings to KSA and affiliates — — — 9 Rentals paid to an affiliate of KSA — — — 232 Payments to an affiliate of KSA for purchase of vehicles (3) — — — 157 _______________ (1) From time to time, GulfMark purchases crude oil from Endeavor Natural Gas, L.P., of which a member of our Board of Directors is the Managing Partner. (2) In connection with the acquisition of Firebird and Phoenix on August 12, 2022, we entered into four operating lease agreements for office and terminal locations with entities owned by Scott Bosard, one of the sellers, for periods ranging from two (3) Amount paid to West Point Buick GMC was for the purchase of three pickup trucks during the nine months ended September 30, 2023, and are net of trade-in values.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
Other Current Liabilities	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The components of other current liabilities were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Accrual for payroll, benefits and bonuses $ 6,860 $ 5,684 Accrued automobile and workers’ compensation claims 7,285 5,804 Accrued medical claims 678 997 Accrued taxes 675 2,453 Other 1,222 1,212 Total other current liabilities $ 16,720 $ 16,150

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On October 27, 2022, we entered into a credit agreement (the “Credit Agreement”) with Cadence Bank, as administrative agent, swingline lender and issuing lender, and the other lenders party thereto (collectively, the “Lenders”). The Credit Agreement provides for (a) a revolving credit facility that allows for borrowings up to $60.0 million in aggregate principal amount from time to time (the “Revolving Credit Facility”) and (b) a Term Loan in aggregate principal amount of $25.0 million (the “Term Loan”). The Revolving Credit Facility matures on October 27, 2027 unless earlier terminated. Pursuant to the terms of the Credit Agreement, we are required to maintain compliance with certain financial covenants as of the end of each fiscal quarter and on a pro forma basis, after giving effect to any borrowings. Each of such ratios is calculated as outlined in the Credit Agreement and subject to certain exclusions and qualifications described therein. See Note 15 for more information relating to these financial covenants. On August 2, 2023, we entered into Amendment No. 1 (the “First Amendment”) to the Credit Agreement. The First Amendment (i) clarified our ability to exclude crude oil inventory valuation losses (and, to the extent included in our consolidated net income, inventory liquidation gains) from the calculation of Consolidated EBITDA for purposes of the related financial covenants, (ii) provided for the exclusion of unusual and non-recurring losses and expenses from the calculation of Consolidated EBITDA, not to exceed 10.0 percent of Consolidated EBITDA for the period, and (iii) amended the definition of Consolidated Funded Indebtedness to include letters of credit and banker’s acceptances only to the extent such letters of credit or banker’s acceptances have been drawn, for purposes of the Consolidated Total Leverage Ratio calculation in the Credit Agreement. The First Amendment applied to our fiscal period ending June 30, 2023 and thereafter. On July 16, 2024, we entered into Amendment No. 2 (the “Second Amendment”) to the Credit Agreement. The Second Amendment amended and restated the definitions of the Consolidated Fixed Charge Coverage Ratio and Consolidated Fixed Charges in order (i) to remove the inclusion of Operating Lease Expenses paid in cash from both the numerator and denominator in the calculation of the Consolidated Fixed Charge Coverage Ratio, and (ii) to clarify that only Consolidated Interest Expense paid in cash is included in the denominator of the Consolidated Fixed Charge Coverage Ratio. These amendments applied to the financial covenant calculations for the period ending June 30, 2024 and thereafter. At September 30, 2024, we had $15.0 million outstanding under the Term Loan at a weighted average interest rate of 7.60 percent, and $11.5 million of letters of credit outstanding at a fee of 2.25 percent. No amounts were outstanding under the Revolving Credit Facility. The following table presents the scheduled maturities of principal amounts of our debt obligations at September 30, 2024 for the next five years, and in total thereafter (in thousands): Remainder of 2024 $ 625 2025 2,500 2026 2,500 2027 9,375 Total debt maturities $ 15,000

Stock-Based Compensation Plan

Stock-Based Compensation Plan	9 Months Ended
Stock-Based Compensation Plan	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plan	Stock-Based Compensation Plan We have in place a long-term incentive plan in which any employee or non-employee director who provides services to us is eligible to participate. The 2018 LTIP, which is overseen by the Compensation Committee of our Board of Directors, provides for the grant of various types of equity awards, of which restricted stock unit awards and performance-based compensation awards have been granted. In May 2022, our shareholders approved an amendment and restatement of the 2018 LTIP, in which the maximum number of shares authorized for issuance under the 2018 LTIP was increased by 150,000 shares to a total of 300,000 shares, and the term of the 2018 LTIP was extended through February 23, 2032. After giving effect to awards granted and forfeitures made under the 2018 LTIP and assuming the potential achievement of the maximum amounts of the performance factors through September 30, 2024, a total of 42,244 shares remained available for issuance. Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Compensation expense $ 423 $ 389 $ 1,181 $ 1,044 At September 30, 2024 and December 31, 2023, we had $0.1 million and $0.1 million, respectively, of accrued dividend amounts for awards granted under the 2018 LTIP or as inducement awards. Restricted Stock Unit Awards The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2024 58,587 $ 41.16 Granted (2) 53,266 $ 29.96 Vested (30,430) $ 39.03 Forfeited (3,491) $ 36.67 Restricted stock unit awards at September 30, 2024 77,932 $ 34.54 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during the first nine months of 2024 was $1.6 million based on grant date market prices of our common shares ranging from $24.51 to $30.03 per share. Unrecognized compensation cost associated with restricted stock unit awards was approximately $1.2 million at September 30, 2024. 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 1.4 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, 2024 17,424 $ 31.03 Granted (2) 29,546 $ 30.01 Vested (6,445) $ 29.72 Forfeited (524) $ 30.26 Performance share unit awards at September 30, 2024 40,001 $ 30.50 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of performance share unit awards issued during the first nine months of 2024 was $0.9 million based on grant date market prices of our common shares ranging from $24.58 to $30.03 per share and assuming a performance factor of 100 percent. Unrecognized compensation cost associated with performance share unit awards was approximately $0.8 million at September 30, 2024. We expect to recognize the remaining compensation cost for these awards over a weighted-average period of 2.3 years.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Nine Months Ended September 30, 2024 2023 Cash paid for interest $ 1,937 $ 2,671 Cash paid for federal and state income taxes 3,942 2,472 Non-cash transactions: Change in accounts payable related to property and equipment additions — 52 Property and equipment acquired under finance leases — 17,632

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases [Abstract]
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Finance lease cost: Amortization of ROU assets $ 1,788 $ 1,983 $ 5,456 $ 5,691 Interest on lease liabilities 299 408 956 955 Operating lease cost 827 927 2,554 2,720 Short-term lease cost 3,202 3,529 10,166 10,668 Variable lease cost 5 6 62 18 Total lease expense $ 6,121 $ 6,853 $ 19,194 $ 20,052 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 2,217 $ 2,739 Operating cash flows from finance leases (1) 979 851 Financing cash flows from finance leases 4,800 4,944 ROU assets obtained in exchange for new lease liabilities: Finance leases — 17,632 Operating leases 364 667 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Nine Months Ended September 30, 2024 2023 Weighted-average remaining lease term (years): Finance leases 2.95 3.65 Operating leases 2.71 3.05 Weighted-average discount rate: Finance leases 5.7% 5.4% Operating leases 4.4% 4.2% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): September 30, December 31, 2024 2023 Assets Finance lease ROU assets (1) $ 19,363 $ 24,681 Operating lease ROU assets 3,971 5,832 Liabilities Current Finance lease liabilities 5,843 6,206 Operating lease liabilities 1,688 2,829 Noncurrent Finance lease liabilities 15,248 19,685 Operating lease liabilities 2,293 3,006 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at September 30, 2024 (in thousands): Finance Operating Lease Lease Remainder of 2024 $ 1,842 $ 744 2025 7,213 1,414 2026 5,588 1,156 2027 6,001 642 2028 2,790 219 Thereafter — 18 Total lease payments 23,434 4,193 Less: Interest (2,343) (212) Present value of lease liabilities 21,091 3,981 Less: Current portion of lease obligation (5,843) (1,688) Total long-term lease obligation $ 15,248 $ 2,293 The following table provides maturities of undiscounted lease liabilities at December 31, 2023 (in thousands): Finance Operating Lease Lease 2024 $ 7,463 $ 3,009 2025 7,284 1,273 2026 5,615 1,047 2027 6,047 602 2028 2,789 219 Thereafter — 18 Total lease payments 29,198 6,168 Less: Interest (3,307) (333) Present value of lease liabilities 25,891 5,835 Less: Current portion of lease obligation (6,206) (2,829) Total long-term lease obligation $ 19,685 $ 3,006
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Finance lease cost: Amortization of ROU assets $ 1,788 $ 1,983 $ 5,456 $ 5,691 Interest on lease liabilities 299 408 956 955 Operating lease cost 827 927 2,554 2,720 Short-term lease cost 3,202 3,529 10,166 10,668 Variable lease cost 5 6 62 18 Total lease expense $ 6,121 $ 6,853 $ 19,194 $ 20,052 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 2,217 $ 2,739 Operating cash flows from finance leases (1) 979 851 Financing cash flows from finance leases 4,800 4,944 ROU assets obtained in exchange for new lease liabilities: Finance leases — 17,632 Operating leases 364 667 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Nine Months Ended September 30, 2024 2023 Weighted-average remaining lease term (years): Finance leases 2.95 3.65 Operating leases 2.71 3.05 Weighted-average discount rate: Finance leases 5.7% 5.4% Operating leases 4.4% 4.2% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): September 30, December 31, 2024 2023 Assets Finance lease ROU assets (1) $ 19,363 $ 24,681 Operating lease ROU assets 3,971 5,832 Liabilities Current Finance lease liabilities 5,843 6,206 Operating lease liabilities 1,688 2,829 Noncurrent Finance lease liabilities 15,248 19,685 Operating lease liabilities 2,293 3,006 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at September 30, 2024 (in thousands): Finance Operating Lease Lease Remainder of 2024 $ 1,842 $ 744 2025 7,213 1,414 2026 5,588 1,156 2027 6,001 642 2028 2,790 219 Thereafter — 18 Total lease payments 23,434 4,193 Less: Interest (2,343) (212) Present value of lease liabilities 21,091 3,981 Less: Current portion of lease obligation (5,843) (1,688) Total long-term lease obligation $ 15,248 $ 2,293 The following table provides maturities of undiscounted lease liabilities at December 31, 2023 (in thousands): Finance Operating Lease Lease 2024 $ 7,463 $ 3,009 2025 7,284 1,273 2026 5,615 1,047 2027 6,047 602 2028 2,789 219 Thereafter — 18 Total lease payments 29,198 6,168 Less: Interest (3,307) (333) Present value of lease liabilities 25,891 5,835 Less: Current portion of lease obligation (6,206) (2,829) Total long-term lease obligation $ 19,685 $ 3,006

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
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-insurance retention of $1.0 million. On October 1, 2023, the self-insurance retention was increased to $1.5 million for the auto policy. 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. Since October 2020, we have 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 2017 through current were transferred to the captive. We maintain excess property and casualty programs with third-party insurers in an effort to limit the financial impact of significant events covered under these programs. Our operating subsidiaries pay premiums to both the excess and reinsurance carriers and our captive for the estimated losses based on an external actuarial analysis. These premiums held by our wholly owned captive are currently held in a restricted account, resulting in a transfer of risk from our operating subsidiaries to the captive. We also maintain a self-insurance program for managing employee medical claims in excess of employee deductibles. As claims are paid, the liability is relieved. We also maintain third party insurance stop-loss coverage for individual medical claims exceeding a certain minimum threshold . In addition, we maintain $1.3 million of umbrella insurance coverage for annual aggregate medical claims exceeding approximately $11.3 million. Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Accrued automobile and workers’ compensation claims $ 7,285 $ 5,804 Accrued medical claims 678 997 Litigation From time to time as incidental to our operations, we may become involved in various lawsuits and/or disputes. As an operator of an extensive trucking fleet, we are a party to motor vehicle accidents, worker compensation claims and other items of general liability as would be typical for the industry. We are presently unaware of any claims against us that are either outside the scope of insurance coverage or that may exceed the level of insurance coverage and could potentially represent a material adverse effect on our financial position, results of operations or cash flows.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Amendment to Credit Facility On November 8, 2024, we entered into Amendment No. 3 (the “Third Amendment”) to the Credit Agreement. The Third Amendment amends and restates the financial covenants contained in the Credit Agreement in order to (i) lower the maximum Consolidated Total Leverage Ratio to 2.00 to 1.00 (from 2.50 to 1.00), commencing with the fiscal quarter ending September 30, 2024 and for each fiscal quarter thereafter; (ii) increase the minimum Asset Coverage Ratio to 2.50 to 1.00 (from 2.00 to 1.00), commencing with the fiscal quarter ending September 30, 2024 and for each fiscal quarter thereafter; and (iii) decrease the minimum Consolidated Fixed Charge Coverage Ratio to 1.05 to 1.00 (from 1.25 to 1.00) for the fiscal quarter ending September 30, 2024, and to 1.10 to 1.00 for the fiscal quarter ending December 31, 2024, returning to 1.25 to 1.00 for the fiscal quarter ending March 31, 2025 and each fiscal quarter thereafter. Merger Transaction On November 11, 2024, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, Tres Energy LLC, a Texas limited liability company (“Parent”), and ARE Acquisition Corporation, a Delaware corporation and a direct, wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which Merger Sub will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of Parent (the “Merger”). Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of our common stock issued and outstanding prior to the Effective Time (other than shares of our common stock (i) we hold as treasury stock or owned by Parent immediately prior to the Effective Time, (ii) held by any subsidiary of either us or Parent immediately prior to the Effective Time or (iii) owned by stockholders who have properly exercised appraisal rights under Delaware law) will be automatically cancelled and converted into the right to receive $38.00 in cash, without interest (the “Merger Consideration”). If the Merger is consummated, our securities will be delisted from the NYSE American and deregistered under the Securities Exchange Act of 1934 as promptly as practicable after the Effective Time. The consummation of the Merger (the “Closing”) is subject to certain customary conditions, including the approval of our stockholders holding at least a majority of our outstanding shares of Common Stock entitled to vote on the adoption of the Merger Agreement. The Merger Agreement contains certain customary termination rights for us and Parent. If the Merger Agreement is terminated under certain specified circumstances, including due to our accepting a superior proposal, we will be required to pay Parent a termination fee of $4.0 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Organization	Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, truck and pipeline transportation of crude oil, and terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). In addition, we conduct tank truck transportation of liquid chemicals and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with sixteen terminals across the U.S. We also recycle and repurpose off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” “Adams” or the “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries.
Basis of Presentation	Basis of Presentation Our results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of results expected for the full year of 2024. 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, 2023 (the “2023 Form 10-K”) filed with the SEC on March 13, 2024. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates
Earnings Per Share	Earnings Per Share
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. The fair value of the term loan under our credit agreement (see Note 10 for further information) is representative of the carrying value based upon the variable terms and management’s opinion that the current rates available to us with the same maturity and security structure are equivalent to that of the debt. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy.
Income Taxes	Income Taxes
Inventory	Inventory
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 Compensation
Other Crude Oil Marketing Revenue	Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying unaudited condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Cash and cash equivalents $ 25,089 $ 33,256 Restricted cash: Collateral for outstanding letters of credit (1) 112 111 Captive insurance subsidiary (2) 10,336 11,879 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 35,537 $ 45,246 _____________ (1) Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit. (2)
Schedule of Common Stock Outstanding	The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2024 2,547,154 Vesting of restricted stock unit awards (see Note 11) 19,334 Vesting of performance share unit awards (see Note 11) 6,318 Shares withheld to cover taxes upon vesting of equity awards (6,157) Balance, March 31, 2024 2,566,649 Vesting of restricted stock unit awards (see Note 11) 924 Vesting of performance share unit awards (see Note 11) 127 Balance, June 30, 2024 2,567,700 Vesting of shares issued 10,172 Balance, September 30, 2024 2,577,872
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the calculation of basic and diluted (losses) earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Losses) Earnings per share — numerator: Net (losses) earnings $ (4,540) $ 2,258 $ (7,267) $ 1,086 Denominator: Basic weighted average number of shares outstanding 2,573 2,541 2,565 2,531 Basic net (losses) earnings per share $ (1.76) $ 0.89 $ (2.83) $ 0.43 Diluted (losses) earnings per share: Diluted weighted average number of shares outstanding: Common shares 2,573 2,541 2,565 2,531 Restricted stock unit awards (1) — 15 — 15 Performance share unit awards (1) (2) — 14 — 18 Total diluted shares 2,573 2,570 2,565 2,564 Diluted net (losses) earnings per share $ (1.76) $ 0.88 $ (2.83) $ 0.42 _______________ (1) For the three and nine months ended September 30, 2024, the effect of the restricted stock unit awards and the performance share unit awards on losses per share was anti-dilutive. (2)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Crude oil marketing: Revenue from contracts with customers: Goods transferred at a point in time $ 659,422 $ 710,010 $ 1,937,229 $ 1,878,735 Services transferred over time — 427 31 763 Total revenues from contracts with customers 659,422 710,437 1,937,260 1,879,498 Other (1) 1,420 9,488 30,231 34,175 Total crude oil marketing revenue $ 660,842 $ 719,925 $ 1,967,491 $ 1,913,673 Transportation: Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 21,758 24,206 67,745 75,103 Total revenues from contracts with customers 21,758 24,206 67,745 75,103 Other — — — — Total transportation revenue $ 21,758 $ 24,206 $ 67,745 $ 75,103 Pipeline and storage: (2) Revenue from contracts with customers: Goods transferred at a point in time $ — $ — $ — $ — Services transferred over time 43 59 67 308 Total revenues from contracts with customers 43 59 67 308 Other — — — — Total pipeline and storage revenue $ 43 $ 59 $ 67 $ 308 Logistics and repurposing: Revenue from contracts with customers: Goods transferred at a point in time $ 6,556 $ 8,545 $ 19,739 $ 25,708 Services transferred over time 5,964 7,879 19,664 20,750 Total revenues from contracts with customers 12,520 16,424 39,403 46,458 Other — — — — Total logistics and repurposing revenue $ 12,520 $ 16,424 $ 39,403 $ 46,458 Subtotal: Total revenues from contracts with customers $ 693,743 $ 751,126 $ 2,044,475 $ 2,001,367 Total other (1) 1,420 9,488 30,231 34,175 Total consolidated revenues $ 695,163 $ 760,614 $ 2,074,706 $ 2,035,542 ________________________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . (2)
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue gross-up $ 96,236 $ 257,965 $ 218,394 $ 785,636

Prepayments and Other Current_2

Prepayments and Other Current Assets (Tables)	9 Months Ended
Prepayments and Other Current Assets (Tables)	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepayments and Other Current Assets	The components of prepayments and other current assets were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Insurance premiums $ 258 $ 798 Rents, licenses and other 2,064 2,305 Total prepayments and other current assets $ 2,322 $ 3,103

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life September 30, December 31, in Years 2024 2023 Tractors and trailers 5 – 6 $ 117,113 $ 119,265 Field equipment 2 – 5 25,085 25,024 Finance lease ROU assets (1) 3 – 6 35,039 35,724 Pipeline and related facilities 20 – 25 20,619 20,397 Linefill and base gas (2) N/A 4,135 3,922 Buildings 5 – 39 17,078 17,089 Office equipment 2 – 5 3,025 3,000 Land N/A 4,163 4,163 Construction in progress N/A 8,495 3,385 Total 234,752 231,969 Less accumulated depreciation and amortization (135,145) (126,904) Property and equipment, net $ 99,607 $ 105,065 _______________ (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 and a tank storage and throughput arrangement (see Note 13 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $15.7 million and $11.0 million at September 30, 2024 and December 31, 2023, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Depreciation and amortization, excluding amounts under finance leases $ 3,563 $ 4,523 $ 11,589 $ 14,260 Amortization of property and equipment under finance leases 1,788 1,983 5,456 5,691 Amortization of intangible assets 401 430 1,242 1,338 Total depreciation and amortization $ 5,752 $ 6,936 $ 18,287 $ 21,289

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
Other Assets (Tables)	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Components of other assets were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Insurance collateral deposits $ 605 $ 605 State collateral deposits 23 23 Materials and supplies 948 1,050 Debt issuance costs 1,007 1,259 Other 373 371 Total other assets $ 2,956 $ 3,308

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Information Concerning Business Activities	Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude oil marketing Trans-portation Pipeline and storage Logistics and repurposing Other Total Three Months Ended September 30, 2024 Segment revenues (1) $ 660,856 $ 21,810 $ 1,052 $ 13,570 $ — $ 697,288 Less: Intersegment revenues (1) (14) (52) (1,009) (1,050) — (2,125) Revenues $ 660,842 $ 21,758 $ 43 $ 12,520 $ — $ 695,163 Segment operating earnings (losses) (2) 2,284 (542) (1,147) (1,637) — (1,042) Depreciation and amortization 1,367 2,522 261 1,602 — 5,752 Property and equipment additions (3) (4) 65 1,463 243 2,856 179 4,806 Three Months Ended September 30, 2023 Segment revenues (1) $ 719,925 $ 24,333 $ 770 $ 16,457 $ — $ 761,485 Less: Intersegment revenues (1) — (127) (711) (33) — (871) Revenues $ 719,925 $ 24,206 $ 59 $ 16,424 $ — $ 760,614 Segment operating earnings (losses) (2) 7,664 1,558 (866) (269) — 8,087 Depreciation and amortization 2,092 3,006 266 1,572 — 6,936 Property and equipment additions (3) 140 1,416 182 1,271 — 3,009 Nine Months Ended September 30, 2024 Segment revenues (1) $ 1,967,515 $ 67,906 $ 3,234 $ 42,752 $ — $ 2,081,407 Less: Intersegment revenues (1) (24) (161) (3,167) (3,349) — (6,701) Revenues $ 1,967,491 $ 67,745 $ 67 $ 39,403 $ — $ 2,074,706 Segment operating earnings (losses) (2) 14,499 308 (3,298) (6,112) — 5,397 Depreciation and amortization 4,401 8,153 797 4,936 — 18,287 Property and equipment additions (3) (4) 3,685 4,374 439 4,639 179 13,316 Nine Months Ended September 30, 2023 Segment revenues (1) $ 1,913,673 $ 75,439 $ 2,473 $ 48,984 $ — $ 2,040,569 Less: Intersegment revenues (1) — (336) (2,165) (2,526) — (5,027) Revenues $ 1,913,673 $ 75,103 $ 308 $ 46,458 $ — $ 2,035,542 Segment operating earnings (losses) (2) 12,922 3,515 (2,846) 133 — 13,724 Depreciation and amortization 6,335 9,273 804 4,877 — 21,289 Property and equipment additions (3) (4) 809 2,754 1,423 3,819 112 8,917 _______________ (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 valuation losses of $2.1 million and liquidation gains of $4.9 million for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, our crude oil marketing segment’s operating earnings included inventory valuation losses of $0.8 million and inventory liquidation gains of $2.9 million, respectively. (3) Our segment property and equipment additions do not include assets acquired under finance leases during the three and nine months ended September 30, 2024 and 2023. See Note 13 for further information. (4) Amounts included in property and equipment additions for Other are additions for computer and other office equipment and a company vehicle at our corporate headquarters, which were not attributed or allocated to any of our reporting segments.
Schedule of Reconciliation of Segment Earnings to Earnings (Losses) Before Income Taxes	Segment operating (losses) earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to (losses) earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Segment operating (losses) earnings $ (1,042) $ 8,087 $ 5,397 $ 13,724 General and administrative (4,520) (4,162) (13,755) (10,649) Operating (losses) earnings (5,562) 3,925 (8,358) 3,075 Interest and other income 528 119 1,662 893 Interest expense (572) (1,027) (2,036) (2,525) (Losses) earnings before income taxes $ (5,606) $ 3,017 $ (8,732) $ 1,443
Schedule of Identifiable Assets by Industry Segment	Identifiable assets by business segment were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Reporting segment: Crude oil marketing $ 172,033 $ 185,285 Transportation 52,831 57,653 Pipeline and storage 25,043 25,027 Logistics and repurposing 42,712 43,258 Cash and other (1) 40,375 50,111 Total assets $ 332,994 $ 361,334 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	9 Months Ended
Transactions with Affiliates (Tables)	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Activities with Affiliates	Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Crude oil purchases from affiliate (1) $ 3,921 $ 9,362 $ 13,065 $ 13,940 Rentals paid to affiliates of Scott Bosard (2) 146 125 434 405 Billings to KSA and affiliates — — — 9 Rentals paid to an affiliate of KSA — — — 232 Payments to an affiliate of KSA for purchase of vehicles (3) — — — 157 _______________ (1) From time to time, GulfMark purchases crude oil from Endeavor Natural Gas, L.P., of which a member of our Board of Directors is the Managing Partner. (2) In connection with the acquisition of Firebird and Phoenix on August 12, 2022, we entered into four operating lease agreements for office and terminal locations with entities owned by Scott Bosard, one of the sellers, for periods ranging from two (3) Amount paid to West Point Buick GMC was for the purchase of three pickup trucks during the nine months ended September 30, 2023, and are net of trade-in values.

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
Other Current Liabilities (Tables)	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The components of other current liabilities were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Accrual for payroll, benefits and bonuses $ 6,860 $ 5,684 Accrued automobile and workers’ compensation claims 7,285 5,804 Accrued medical claims 678 997 Accrued taxes 675 2,453 Other 1,222 1,212 Total other current liabilities $ 16,720 $ 16,150

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Maturities of Long-Term Debt	The following table presents the scheduled maturities of principal amounts of our debt obligations at September 30, 2024 for the next five years, and in total thereafter (in thousands): Remainder of 2024 $ 625 2025 2,500 2026 2,500 2027 9,375 Total debt maturities $ 15,000

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	9 Months Ended
Stock-Based Compensation Plan (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Arrangement	Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Compensation expense $ 423 $ 389 $ 1,181 $ 1,044
Schedule of Share-Based Compensation, Activity	The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2024 58,587 $ 41.16 Granted (2) 53,266 $ 29.96 Vested (30,430) $ 39.03 Forfeited (3,491) $ 36.67 Restricted stock unit awards at September 30, 2024 77,932 $ 34.54 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) 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, 2024 17,424 $ 31.03 Granted (2) 29,546 $ 30.01 Vested (6,445) $ 29.72 Forfeited (524) $ 30.26 Performance share unit awards at September 30, 2024 40,001 $ 30.50 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Nine Months Ended September 30, 2024 2023 Cash paid for interest $ 1,937 $ 2,671 Cash paid for federal and state income taxes 3,942 2,472 Non-cash transactions: Change in accounts payable related to property and equipment additions — 52 Property and equipment acquired under finance leases — 17,632

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease, Cost	The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Finance lease cost: Amortization of ROU assets $ 1,788 $ 1,983 $ 5,456 $ 5,691 Interest on lease liabilities 299 408 956 955 Operating lease cost 827 927 2,554 2,720 Short-term lease cost 3,202 3,529 10,166 10,668 Variable lease cost 5 6 62 18 Total lease expense $ 6,121 $ 6,853 $ 19,194 $ 20,052 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 2,217 $ 2,739 Operating cash flows from finance leases (1) 979 851 Financing cash flows from finance leases 4,800 4,944 ROU assets obtained in exchange for new lease liabilities: Finance leases — 17,632 Operating leases 364 667 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Nine Months Ended September 30, 2024 2023 Weighted-average remaining lease term (years): Finance leases 2.95 3.65 Operating leases 2.71 3.05 Weighted-average discount rate: Finance leases 5.7% 5.4% Operating leases 4.4% 4.2%
Assets and Liabilities, Lessee	The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): September 30, December 31, 2024 2023 Assets Finance lease ROU assets (1) $ 19,363 $ 24,681 Operating lease ROU assets 3,971 5,832 Liabilities Current Finance lease liabilities 5,843 6,206 Operating lease liabilities 1,688 2,829 Noncurrent Finance lease liabilities 15,248 19,685 Operating lease liabilities 2,293 3,006 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
Schedule of Lessee, Operating Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at September 30, 2024 (in thousands): Finance Operating Lease Lease Remainder of 2024 $ 1,842 $ 744 2025 7,213 1,414 2026 5,588 1,156 2027 6,001 642 2028 2,790 219 Thereafter — 18 Total lease payments 23,434 4,193 Less: Interest (2,343) (212) Present value of lease liabilities 21,091 3,981 Less: Current portion of lease obligation (5,843) (1,688) Total long-term lease obligation $ 15,248 $ 2,293 The following table provides maturities of undiscounted lease liabilities at December 31, 2023 (in thousands): Finance Operating Lease Lease 2024 $ 7,463 $ 3,009 2025 7,284 1,273 2026 5,615 1,047 2027 6,047 602 2028 2,789 219 Thereafter — 18 Total lease payments 29,198 6,168 Less: Interest (3,307) (333) Present value of lease liabilities 25,891 5,835 Less: Current portion of lease obligation (6,206) (2,829) Total long-term lease obligation $ 19,685 $ 3,006
Schedule of Finance Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at September 30, 2024 (in thousands): Finance Operating Lease Lease Remainder of 2024 $ 1,842 $ 744 2025 7,213 1,414 2026 5,588 1,156 2027 6,001 642 2028 2,790 219 Thereafter — 18 Total lease payments 23,434 4,193 Less: Interest (2,343) (212) Present value of lease liabilities 21,091 3,981 Less: Current portion of lease obligation (5,843) (1,688) Total long-term lease obligation $ 15,248 $ 2,293 The following table provides maturities of undiscounted lease liabilities at December 31, 2023 (in thousands): Finance Operating Lease Lease 2024 $ 7,463 $ 3,009 2025 7,284 1,273 2026 5,615 1,047 2027 6,047 602 2028 2,789 219 Thereafter — 18 Total lease payments 29,198 6,168 Less: Interest (3,307) (333) Present value of lease liabilities 25,891 5,835 Less: Current portion of lease obligation (6,206) (2,829) Total long-term lease obligation $ 19,685 $ 3,006

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Expenses and Losses Incurred but Not Reported	Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): September 30, December 31, 2024 2023 Accrued automobile and workers’ compensation claims $ 7,285 $ 5,804 Accrued medical claims 678 997

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	9 Months Ended
Organization and Basis of Presentation (Details)	Sep. 30, 2024 segment terminal state
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which entity operates \| state	48
Number of terminals in which entity operates \| terminal	16
Number of operating segments	4
Number of reportable segments	4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 25,089	$ 33,256
Restricted cash	10,448	11,990
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows	35,537	45,246	$ 24,888	$ 31,067
Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	112	111
Captive Insurance Subsidiary
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	10,336	$ 11,879
Initial Capitalization
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Common Stock Outstanding (Details) - shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	2,567,700	2,566,649	2,547,154
Vesting of restricted stock unit awards (in shares)		924	19,334
Shares withheld to cover taxes upon vesting of equity awards (in shares)			(6,157)
Vesting of shares issued (in shares)	10,172
Ending balance (in shares)	2,577,872	2,567,700	2,566,649
Performance Unit Awards
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of performance share unit awards (in shares)		127	6,318

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings per share
Net (losses) earnings	$ (4,540)	$ (2,229)	$ (498)	$ 2,258	$ 827	$ (1,999)	$ (7,267)	$ 1,086
Basic weighted average number of shares outstanding (in shares)	2,573			2,541			2,565	2,531
Basic net (losses) earnings per share (in dollars per share)	$ (1.76)			$ 0.89			$ (2.83)	$ 0.43
Diluted (losses) earnings per share:
Common shares (in shares)	2,573			2,541			2,565	2,531
Total diluted shares (in shares)	2,573			2,570			2,565	2,564
Diluted net (losses) earnings per share (in dollars per share)	$ (1.76)			$ 0.88			$ (2.83)	$ 0.42
Restricted stock units awards
Diluted (losses) earnings per share:
Share-based payment arrangements awards (in shares)	0			15			0	15
Performance share unit awards
Diluted (losses) earnings per share:
Share-based payment arrangements awards (in shares)	0			14			0	18

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Fair Value Measurements (Details)	Sep. 30, 2024 contract
Hedging accounting
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of contracts held	0

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Income Taxes and Property and Equipment (Details)	Sep. 30, 2024
Minimum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	39 years

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 695,163	$ 760,614	$ 2,074,706	$ 2,035,542
Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	693,743	751,126	2,044,475	2,001,367
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,420	9,488	30,231	34,175
Crude oil marketing
Disaggregation of Revenue [Line Items]
Revenues	660,842	719,925	1,967,491	1,913,673
Crude oil marketing \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	659,422	710,437	1,937,260	1,879,498
Crude oil marketing \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	659,422	710,010	1,937,229	1,878,735
Crude oil marketing \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	427	31	763
Crude oil marketing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,420	9,488	30,231	34,175
Trans-portation
Disaggregation of Revenue [Line Items]
Revenues	21,758	24,206	67,745	75,103
Trans-portation \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	21,758	24,206	67,745	75,103
Trans-portation \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trans-portation \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	21,758	24,206	67,745	75,103
Trans-portation \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Pipeline and storage
Disaggregation of Revenue [Line Items]
Revenues	43	59	67	308
Pipeline and storage \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	43	59	67	308
Pipeline and storage \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Pipeline and storage \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	43	59	67	308
Pipeline and storage \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Logistics and repurposing
Disaggregation of Revenue [Line Items]
Revenues	12,520	16,424	39,403	46,458
Logistics and repurposing \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	12,520	16,424	39,403	46,458
Logistics and repurposing \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	6,556	8,545	19,739	25,708
Logistics and repurposing \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	5,964	7,879	19,664	20,750
Logistics and repurposing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0	$ 0	$ 0

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue gross-up	$ 96,236	$ 257,965	$ 218,394	$ 785,636

Prepayments and Other Current_3

Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance premiums	$ 258	$ 798
Rents, licenses and other	2,064	2,305
Total prepayments and other current assets	$ 2,322	$ 3,103

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 234,752		$ 234,752		$ 231,969
Less accumulated depreciation and amortization	(135,145)		(135,145)		(126,904)
Property and equipment, net	99,607		99,607		105,065
Finance lease ROU, accumulated amortization	15,700		15,700		11,000
Total depreciation and amortization	5,752	$ 6,936	18,287	$ 21,289
Amortization of intangible assets	401	430	1,242	1,338
Depreciation and amortization, excluding amounts under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	3,563	4,523	11,589	14,260
Amortization of property and equipment under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	$ 1,788	$ 1,983	$ 5,456	$ 5,691
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years		2 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years		39 years
Tractors and trailers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 117,113		$ 117,113		119,265
Tractors and trailers \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Tractors and trailers \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years		6 years
Field equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 25,085		$ 25,085		25,024
Field equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years		2 years
Field equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Finance lease ROU assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 35,039		$ 35,039		35,724
Finance lease ROU assets \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years		3 years
Finance lease ROU assets \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years		6 years
Pipeline and related facilities
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,619		$ 20,619		20,397
Pipeline and related facilities \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years		20 years
Pipeline and related facilities \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years		25 years
Linefill and base gas
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,135		$ 4,135		3,922
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 17,078		$ 17,078		17,089
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years		39 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,025		$ 3,025		3,000
Office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years		2 years
Office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years		5 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,163		$ 4,163		4,163
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,495		$ 8,495		$ 3,385

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance collateral deposits	$ 605	$ 605
State collateral deposits	23	23
Materials and supplies	948	1,050
Debt issuance costs	1,007	1,259
Other	373	371
Total other assets	$ 2,956	$ 3,308

Segment Reporting - Schedule of

Segment Reporting - Schedule of Information Concerning Business Activities (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			4
Number of operating segments \| segment			4
Segment Reporting Information [Line Items]
Revenues	$ 695,163	$ 760,614	$ 2,074,706	$ 2,035,542
Segment operating earnings (losses)	(5,562)	3,925	(8,358)	3,075
Depreciation and amortization	5,752	6,936	18,287	21,289
Property and equipment additions	4,806	3,009	13,316	8,917
Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	660,842	719,925	1,967,491	1,913,673
Inventory liquidation gains (losses)	(2,100)	4,900	(800)	2,900
Trans-portation
Segment Reporting Information [Line Items]
Revenues	21,758	24,206	67,745	75,103
Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	43	59	67	308
Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	12,520	16,424	39,403	46,458
Operating segments
Segment Reporting Information [Line Items]
Revenues	697,288	761,485	2,081,407	2,040,569
Segment operating earnings (losses)	(1,042)	8,087	5,397	13,724
Operating segments \| Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	660,856	719,925	1,967,515	1,913,673
Segment operating earnings (losses)	2,284	7,664	14,499	12,922
Depreciation and amortization	1,367	2,092	4,401	6,335
Property and equipment additions	65	140	3,685	809
Operating segments \| Trans-portation
Segment Reporting Information [Line Items]
Revenues	21,810	24,333	67,906	75,439
Segment operating earnings (losses)	(542)	1,558	308	3,515
Depreciation and amortization	2,522	3,006	8,153	9,273
Property and equipment additions	1,463	1,416	4,374	2,754
Operating segments \| Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	1,052	770	3,234	2,473
Segment operating earnings (losses)	(1,147)	(866)	(3,298)	(2,846)
Depreciation and amortization	261	266	797	804
Property and equipment additions	243	182	439	1,423
Operating segments \| Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	13,570	16,457	42,752	48,984
Segment operating earnings (losses)	(1,637)	(269)	(6,112)	133
Depreciation and amortization	1,602	1,572	4,936	4,877
Property and equipment additions	2,856	1,271	4,639	3,819
Intersegment
Segment Reporting Information [Line Items]
Revenues	(2,125)	(871)	(6,701)	(5,027)
Intersegment \| Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	(14)	0	(24)	0
Intersegment \| Trans-portation
Segment Reporting Information [Line Items]
Revenues	(52)	(127)	(161)	(336)
Intersegment \| Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	(1,009)	(711)	(3,167)	(2,165)
Intersegment \| Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	(1,050)	(33)	(3,349)	(2,526)
Other
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating earnings (losses)	0	0	0	0
Depreciation and amortization	0	0	0	0
Property and equipment additions	$ 179	$ 0	$ 179	$ 112

Segment Reporting - Schedule _2

Segment Reporting - Schedule of Reconciliation of Segment Earnings to Earnings (Losses) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	$ (5,562)	$ 3,925	$ (8,358)	$ 3,075
General and administrative	(4,520)	(4,162)	(13,755)	(10,649)
Interest and other income	528	119	1,662	893
Interest expense	(572)	(1,027)	(2,036)	(2,525)
(Losses) Earnings before income taxes	(5,606)	3,017	(8,732)	1,443
Operating segments
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	(1,042)	8,087	5,397	13,724
General and administrative
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	0	0	0	0
General and administrative	(4,520)	(4,162)	(13,755)	(10,649)
Segment reconciling items
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Interest and other income	528	119	1,662	893
Interest expense	$ (572)	$ (1,027)	$ (2,036)	$ (2,525)

Segment Reporting - Schedule _3

Segment Reporting - Schedule of Identifiable Assets by Industry Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reconciliation [Abstract]
Total assets	$ 332,994	$ 361,334
Operating segments \| Crude oil marketing
Segment Reconciliation [Abstract]
Total assets	172,033	185,285
Operating segments \| Trans-portation
Segment Reconciliation [Abstract]
Total assets	52,831	57,653
Operating segments \| Pipeline and storage
Segment Reconciliation [Abstract]
Total assets	25,043	25,027
Operating segments \| Logistics and repurposing
Segment Reconciliation [Abstract]
Total assets	42,712	43,258
Cash and other
Segment Reconciliation [Abstract]
Total assets	$ 40,375	$ 50,111

Transactions with Affiliates -

Transactions with Affiliates - Schedule of Activities with Affiliates (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 12, 2022 operating_lease	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) truck
Related Party Transaction [Line Items]
Billings to KSA and affiliates		$ 695,163	$ 760,614	$ 2,074,706	$ 2,035,542
Firebird and Phoenix
Related Party Transaction [Line Items]
Number of operating lease aggrement \| operating_lease	4
Firebird and Phoenix \| Minimum
Related Party Transaction [Line Items]
Term of contract	2 years
Firebird and Phoenix \| Maximum
Related Party Transaction [Line Items]
Term of contract	5 years
Affiliated Entities
Related Party Transaction [Line Items]
Billings to KSA and affiliates		0	0	0	9
Affiliated Entities \| Crude oil purchases from affiliate
Related Party Transaction [Line Items]
Purchases from affiliated entity		3,921	9,362	13,065	13,940
Affiliated Entities \| Rentals paid to affiliates of Scott Bosard
Related Party Transaction [Line Items]
Amounts of transaction		146	125	434	405
Affiliated Entities \| Rentals paid to an affiliate of KSA
Related Party Transaction [Line Items]
Amounts of transaction		0	0	0	232
Affiliated Entities \| Payments to an affiliate of KSA for purchase of vehicles
Related Party Transaction [Line Items]
Purchases from affiliated entity		$ 0	$ 0	$ 0	$ 157
G M C
Related Party Transaction [Line Items]
Number of pickup tracks purchased \| truck					3

Transactions with Affiliates _2

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

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accrual for payroll, benefits and bonuses	$ 6,860	$ 5,684
Accrued automobile and workers’ compensation claims	7,285	5,804
Accrued medical claims	678	997
Accrued taxes	675	2,453
Other	1,222	1,212
Total other current liabilities	$ 16,720	$ 16,150

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	9 Months Ended
Long-Term Debt - Narrative (Details)	Sep. 30, 2024 USD ($)	Aug. 02, 2023	Oct. 27, 2022 USD ($)
Line of Credit Facility [Line Items]
Percentage of unusual and non recurring losses and expenses on Consolidated EBITDA		0.10
Long-term debt	$ 15,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing amount			$ 60,000,000
Weighted average interest rate	7.60%
Letters of credit outstanding	$ 11,500,000
Borrowings outstanding	$ 0
Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage	2.25%
Secured Debt \| Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount			$ 25,000,000
Long-term debt	$ 15,000,000

Long-Term Debt - Schedule of Ma

Long-Term Debt - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 625
2025	2,500
2026	2,500
2027	9,375
Long-term debt	$ 15,000

Stock-Based Compensation Plan -

Stock-Based Compensation Plan - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	May 31, 2022	Sep. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	150,000
Number of shares authorized (in shares)	300,000	42,244
Accrued dividends		$ 0.1	$ 0.1
Restricted stock units awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 1.2
Period for recognition for remaining compensation cost		1 year 4 months 24 days
Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 0.8
Period for recognition for remaining compensation cost		2 years 3 months 18 days

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan - Share-Based Payment Arrangement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Compensation expense	$ 423	$ 389	$ 1,181	$ 1,044

Stock-Based Compensation Plan_3

Stock-Based Compensation Plan - Schedule of Share-Based Compensation Activity, Payment Arrangement (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Restricted stock units awards
Number of Shares
Unit awards, beginning balance (in shares) \| shares	58,587
Granted (in shares) \| shares	53,266
Vested (in shares) \| shares	(30,430)
Forfeited (in shares) \| shares	(3,491)
Unit awards, ending balance (in shares) \| shares	77,932
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 41.16
Granted (in dollars per share)	29.96
Vested (in dollars per share)	39.03
Forfeited (in dollars per share)	36.67
Unit awards, ending balance (in dollars per share)	$ 34.54
Aggregate grant date fair value awards issues \| $	$ 1.6
Restricted stock units awards \| Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 24.51
Restricted stock units awards \| Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 30.03
Performance share unit awards
Number of Shares
Unit awards, beginning balance (in shares) \| shares	17,424
Granted (in shares) \| shares	29,546
Vested (in shares) \| shares	(6,445)
Forfeited (in shares) \| shares	(524)
Unit awards, ending balance (in shares) \| shares	40,001
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 31.03
Granted (in dollars per share)	30.01
Vested (in dollars per share)	29.72
Forfeited (in dollars per share)	30.26
Unit awards, ending balance (in dollars per share)	$ 30.50
Aggregate grant date fair value awards issues \| $	$ 0.9
Performance factor	100%
Performance share unit awards \| Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 24.58
Performance share unit awards \| Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 30.03

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 1,937	$ 2,671
Cash paid for federal and state income taxes	3,942	2,472
Non-cash transactions:
Change in accounts payable related to property and equipment additions	0	52
Property and equipment acquired under finance leases	$ 0	$ 17,632

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Amortization of ROU assets	$ 1,788	$ 1,983	$ 5,456	$ 5,691
Interest on lease liabilities	299	408	956	955
Operating lease cost	827	927	2,554	2,720
Short-term lease cost	3,202	3,529	10,166	10,668
Variable lease cost	5	6	62	18
Total lease expense	$ 6,121	$ 6,853	$ 19,194	$ 20,052

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,217	$ 2,739
Operating cash flows from finance leases	979	851
Financing cash flows from finance leases	4,800	4,944
ROU assets obtained in exchange for new lease liabilities:
ROU assets obtained in exchange for new lease liabilities, Finance leases	0	17,632
ROU assets obtained in exchange for new lease liabilities, Operating leases	$ 364	$ 667

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rates (Details)	Sep. 30, 2024	Sep. 30, 2023
Weighted-average remaining lease term (years):
Finance leases	2 years 11 months 12 days	3 years 7 months 24 days
Operating leases	2 years 8 months 15 days	3 years 18 days
Weighted-average discount rate:
Finance leases	5.70%	5.40%
Operating leases	4.40%	4.20%

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Finance lease ROU assets	$ 19,363	$ 24,681
Operating lease ROU assets	3,971	5,832
Finance lease liabilities	5,843	6,206
Operating lease liabilities	1,688	2,829
Finance lease liabilities	15,248	19,685
Operating lease liabilities	$ 2,293	$ 3,006

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Undiscounted Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finance Lease Liabilities, Payments
Remainder of 2024	$ 1,842
Year one	7,213	$ 7,463
Year two	5,588	7,284
Year three	6,001	5,615
Year four	2,790	6,047
Year five		2,789
Thereafter	0
Thereafter		0
Total lease payments	23,434	29,198
Less: Interest	(2,343)	(3,307)
Present value of lease liabilities	21,091	25,891
Less: Current portion of lease obligation	(5,843)	(6,206)
Total long-term lease obligation	15,248	19,685
Operating Lease Liabilities, Payments Due
Remainder of 2024	744
Year one	1,414	3,009
Year two	1,156	1,273
Year three	642	1,047
Year four	219	602
Year five		219
Thereafter	18
Thereafter		18
Total lease payments	4,193	6,168
Less: Interest	(212)	(333)
Present value of lease liabilities	3,981	5,835
Less: Current portion of lease obligation	(1,688)	(2,829)
Total long-term lease obligation	$ 2,293	$ 3,006

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Oct. 01, 2023	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Self-insured retention		$ 1,500,000	$ 1,000,000
Umbrellas insurance coverage	$ 1,300,000
Aggregate medical claims for umbrella insurance coverage per calendar year	$ 11,300,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Expenses and Losses Incurred but Not Reported (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrued automobile and workers’ compensation claims	$ 7,285	$ 5,804
Accrued medical claims	$ 678	$ 997

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Millions	Nov. 11, 2024 USD ($) $ / shares	Mar. 31, 2025	Dec. 31, 2024	Nov. 08, 2024	Sep. 30, 2024
Revolving Credit Facility
Subsequent Event [Line Items]
Leverage ratio					2.50
Current ratio					2
Coverage ratio					1.25
Revolving Credit Facility \| Forecast
Subsequent Event [Line Items]
Coverage ratio		1.25	1.10
Subsequent Event \| ARE Acquisition Corporation
Subsequent Event [Line Items]
Cash right per common stock issued and outstanding (in dollars per share) \| $ / shares	$ 38
Termination fee \| $	$ 4
Subsequent Event \| Revolving Credit Facility
Subsequent Event [Line Items]
Leverage ratio				2
Current ratio				2.50
Coverage ratio				1.05