Segment Reporting

6 Months Ended

Jun. 30, 2011

Segment Reporting Disclosure [Abstract]

Segment Reporting

Note 3 – Segment Reporting

The Company is engaged in the business of crude oil, natural gas and petroleum products marketing as well as tank truck transportation of liquid chemicals and oil and gas exploration and production.  Information concerning the Company's various business activities is summarized as follows (in thousands):

- Six Month Comparison

			Segment		Depreciation		Property and
			Operating		Depletion and		Equipment
	Revenues		Earnings		Amortization		Additions
Period Ended June 30, 2011
Marketing
- Crude Oil	$	1,397,971	$	10,940	$	1,538	$	8,628
- Natural gas		2,693		1,080		2		56
- Refined products		80,014		59		212		55
Marketing Total		1,480,678		12,079		1,752		8,739
Transportation		34,149		4,925		1,874		9,128
Oil and gas		6,571		1,875		3,694		12,395
	$	1,521,398	$	18,879	$	7,320	$	30,262
Period Ended June 30, 2010
Marketing
- Crude Oil	$	979,688	$	4,446	$	1,056	$	1,678
- Natural gas		5,876		1,406		42		29
- Refined products		61,954		215		254		143
Marketing Total		1,047,518		6,067		1,352		1,850
Transportation		28,084		3,014		2,225		83
Oil and gas		5,324		552		1,973		6,092
	$	1,080,926	$	9,633	$	5,550	$	8,025

- Three Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended June 30, 2011
Marketing
- Crude Oil	$	754,288	$	4,613		$	810	$	5,168
- Natural gas		1,360		561			1		28
- Refined products		46,672		359			106		49
Marketing Total		802,320		5,533			917		5,245
Transportation		18,076		2,933			1,029		5,001
Oil and gas		3,814		(171	)		1,952		5,040
	$	824,210	$	8,295		$	3,898	$	15,286
Period Ended June 30, 2010
Marketing
- Crude Oil	$	492,109	$	1,403		$	558	$	251
- Natural gas		3,190		801			1		29
- Refined products		34,129		201			127		67
Marketing Total		529,428		2,405			686		347
Transportation		14,973		2,153			1,111		67
Oil and gas		2,740		236			909		3,804
	$	547,141	$	4,794		$	2,706	$	4,218

Segment operating earnings reflect revenues net of operating costs and depreciation, depletion and amortization.  Segment earnings reconcile to earnings before income taxes as follows (in thousands):

	Six months ended						Three months ended
	June 30,						June 30,
	2011			2010			2011			2010
Segment operating earnings (loss)	$	18,879		$	9,633		$	8,295		$	4,794
- General and administrative		(4,597	)		(4,402	)		(2,488	)		(2,138	)
Operating earnings		14,282			5,231			5,807			2,656
- Interest income		91			30			43			19
- Interest expense		(7	)		(31	)		(7	)		-
Earnings before income taxes	$	14,366		$	5,230		$	5,843		$	2,675

Identifiable assets by industry segment are as follows (in thousands):

	June 30,		December 31,
	2011		2010
Marketing
- Crude oil	$	230,956	$	184,299
- Natural gas		17,483		19,948
- Refined products		16,045		11,594
Marketing Total		264,484		215,841
Transportation		25,475		17,378
Oil and gas		36,452		32,563
Other		32,977		35,523
	$	359,388	$	301,305

Intersegment sales are insignificant.  Other identifiable assets are primarily corporate cash, and assets not identified with any specific segment of the Company's business.  All sales by the Company occurred in the United States.