Segment Reporting

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment Reporting

Note 3 - Segment Reporting

The Company is engaged in the business of crude oil and natural gas 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, 2012
Marketing
- Crude Oil	$	1,665,204	$	16,602		$	2,728	$	7,406
- Natural gas		2,948		883			1		-
Marketing Total		1,668,152		17,485			2,729		7,406
Transportation		33,396		5,312			2,612		10,744
Oil and gas		7,415		(155	)		3,848		13,460
	$	1,708,963	$	22,642		$	9,189	$	31,610
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
Marketing Total		1,400,664		12,020			1,540		8,684
Transportation		34,149		4,925			1,874		9,128
Oil and gas		6,571		1,875			3,694		12,395
	$	1,441,384	$	18,820		$	7,108	$	30,207

- Three Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended June 30, 2012
Marketing
- Crude Oil	$	809,358	$	8,837		$	1,438	$	3,207
- Natural gas		1,364		490			-		-
Marketing Total		810,722		9,327			1,438		3,207
Transportation		17,128		2,258			1,361		6,056
Oil and gas		3,624		(557	)		2,227		7,125
	$	831,474	$	11,028		$	5,026	$	16,388
Period Ended June 30, 2011
Marketing
- Crude Oil	$	754,288	$	4,613		$	810	$	5,168
- Natural gas		1,360		561			1		28
Marketing Total		755,648		5,174			811		5,196
Transportation		18,076		2,933			1,029		5,001
Oil and gas		3,814		(171	)		1,952		5,040
	$	777,538	$	7,936		$	3,792	$	15,237

Segment operating earnings reflect revenues net of operating costs and depreciation, depletion and amortization and are reconciled to earnings from continuing operations before income taxes, as follows (in thousands):

	Six months ended						Three months ended
	June 30,						June 30,
	2012			2011			2012			2011
Segment operating earnings (loss)	$	22,642		$	18,820		$	11,028		$	7,936
- General and administrative		(4,697	)		(4,597	)		(2,465	)		(2,488	)
Operating earnings		17,945			14,223			8,563			5,448
- Interest income		42			91			21			43
- Interest expense		(3	)		(7	)		(2	)		(7	)
Earnings from continuing operations
before income taxes and
discontinued operations	$	17,984		$	14,307		$	8,582		$	5,484

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

	June 30,		December 31,
	2012		2011
Marketing
- Crude oil	$	221,137	$	253,817
- Natural gas		9,314		12,246
Marketing Total		230,451		266,063
Transportation		37,189		27,221
Oil and gas		37,148		29,105
Other		39,247		56,451
	$	344,035	$	378,840

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.