RESTRICTED CASH

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

We include in restricted cash amounts representing a cash account for which the use of funds is restricted by a facilities connection agreement among us and Gibson Energy Inc., or Gibson, that we entered into during 2014 in connection with the development of our Hardisty Terminal. The collaborative arrangement is further discussed in Note 11. Collaborative Arrangement.

In addition, we have an indemnity escrow account of $2.0 million included in our restricted cash amounts associated with the divestiture of our Casper Terminal that is required to be held for one year from the March 31, 2023 closing date of the sale of the terminal and $19.1 million in restricted cash held for repayment on our Credit Agreement per the covenants that was required to be paid within three days of the closing date of the sale of the Casper Terminal. Refer to Note 3. Acquisitions and Dispositions for a further discussion of the Casper Terminal divestiture and Note 19. Subsequent event for a discussion of payments made on our Credit Agreement subsequent to March 31, 2023.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within our consolidated balance sheets to the amounts shown in our consolidated statements of cash flows for the specified periods:


	March 31,
	2023		2022
	(in thousands)
Cash and cash equivalents	$	10,843	$	4,497
Restricted Cash	23,659		7,439
Total cash, cash equivalents and restricted cash	$	34,502	$	11,936