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CONCENTRATIONS OF RISK AND SIGNIFICANT CUSTOMERS
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
CONCENTRATIONS OF RISK AND SIGNIFICANT CUSTOMERS CONCENTRATIONS OF RISK AND SIGNIFICANT CUSTOMERS
The Company has concentrated credit risk for cash by maintaining deposits in one bank.  These balances are insured by the Federal Deposit Insurance Corporation up to $250,000. From time to time during the quarter ended March 31, 2024 and year ended December 31, 2023, the Company’s cash balances exceeded the federally insured limits. No losses have been incurred relating to this concentration. 
At March 31, 2024 and 2023 and for each of the three months then ended, the Company’s revenues and receivables were comprised of the following customer concentrations:
As of and for the Three Months Ended
 March 31, 2024March 31, 2023
% of
Revenues		% of
Receivables		% of
Revenues		% of
Receivables
Customer 135%2%38%23%
Customer 230%4%37%1%
Customer 310%22%—%—%

For each of the three months ended March 31, 2024 and 2023, the Company’s segment revenues were comprised of the following customer concentrations:
% of Revenue by Segment% Revenue by Segment
March 31, 2024March 31, 2023
RefiningBlack Oil and RecoveryRefiningBlack Oil and Recovery
Customer 137%—%39%—%
Customer 231%—%39%—%
Customer 311%—%—%—%

For each of the three months ended March 31, 2024 and 2023, substantially all of the Company's crude oil, which is used in our Refining and Marketing segment, is purchased from a single vendor.

The Company’s revenue, profitability and future rate of growth are substantially dependent on prevailing prices for petroleum-based products. Historically, the energy markets have been very volatile, and there can be no assurance that these prices will not be subject to wide fluctuations in the future. A substantial or extended decline in such prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, and access to capital and on the quantities of petroleum-based products that the Company can economically produce.