MOBILE REFINERY ACQUISITION (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the determination and recognition of assets acquired (in thousands):


	Financing Agreement		Vertex Acquisition		Total
Inventory	$	124,311	$	5,909	$	130,220
Prepaid assets	—		147		147
Fixed assets	—		97,158		97,158
Total purchase price	$	124,311	$	103,214	$	227,525

Summarized Results of Operations

The following table presents summarized results of operations of the Mobile Refinery for the three and six months ended June 30, 2023 and 2022, which are included in the accompanying consolidated statement of operations for the period ended June 30, 2023 and 2022 (in thousands):


	For Three Months Ended June 30,				For Six Months Ended June 30,
	2023		2022		2023		2022
Revenue	$	626,455	$	922,196	$	1,257,214	$	922,196
Net income (loss)	$	(21,651)	$	(23,961)	$	14,526	$	(23,961)

Schedule of Pro Forma Information

The following table presents unaudited pro forma results of operations reflecting the acquisition of the Mobile Refinery as if the acquisition had occurred as of January 1, 2022. This information has been compiled from current and historical financial statements and is not necessarily indicative of the results that actually would have been achieved had the transaction occurred at the beginning of the periods presented or that may be achieved in the future (in thousands):


	For Six Months Ended June 30,
	2023		2022
Revenue	$	1,257,214	$	1,673,096
Net income	$	14,526	$	31,138