Transactions with Related Parties

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Transactions with Related Parties

Transactions with Related Parties

Transactions with ANSAC prior to January 1, 2023 were considered transactions with a related party. As discussed in Note 4, on January 1, 2023, ANSAC became a wholly owned subsidiary of Genesis, and as such, the activity related to ANSAC is not included for the year ended December 31, 2023 in the table below.

Transactions with related parties were as follows: 

	Year Ended December 31,
	2023		2022		2021
Revenues:
Revenues from services and fees to Poseidon Oil Pipeline Company, LLC(1)	$	18,713	$	14,606	$	13,846
Revenues from product sales to ANSAC	—		418,232		280,935
Expenses:
Amounts paid to our CEO in connection with the use of his aircraft	$	660	$	660	$	660
Charges for products purchased from Poseidon Oil Pipeline Company, LLC(1)	9,124		1,057		965
Charges for services from ANSAC	—		9,891		1,213

(1)    We own a 64% interest in Poseidon Oil Pipeline Company, LLC.

Our CEO, Mr. Grant E. Sims, owns an aircraft which is used by us for business purposes in the course of operations. We pay Mr. Grant E. Sims a fixed monthly fee and reimburse the aircraft management company for costs related to our usage of the aircraft, including fuel and the actual out-of-pocket costs. Based on current market rates for chartering of private aircraft under long-term, priority arrangements with industry recognized chartering companies, we believe that the terms of this arrangement reflect what we would expect to obtain in an arms-length transaction.

Transactions with Unconsolidated Affiliates

Poseidon

We provide management, administrative and pipeline operator services to Poseidon under an Operation and Management Agreement. Currently, that agreement automatically renews annually unless terminated by either party (as defined in the agreement). Our revenues for the years ended December 31, 2023, 2022 and 2021 include $10.0 million, $9.7 million and $9.4 million, respectively, of fees we earned through the provision of services under that agreement. At December 31, 2023, and 2022, Poseidon Oil Pipeline Company, LLC owed us $1.9 million and $2.4 million for services rendered, respectively.