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Note 12 - Major Customers
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

NOTE 12. Major Customers

 

Delek accounted for approximately 82%, 88% and 94% of the Company’s revenues during the years ended December 31, 2023, 2022 and 2021, respectively. In addition, Energy Transfer Crude Marketing, LLC (“ETC”) accounted for approximately 14% of the Company’s revenues during the year ended December 31, 2023. Based on the current demand for crude oil and natural gas and the availability of other purchasers, management believes the loss of these major purchasers would not have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers.