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Note 12 - Major Customers
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

NOTE 12. Major Customers

 

Delek accounted for approximately 88% and 94% of the Company’s revenues during the years ended December 31, 2022 and 2021, respectively. Delek accounted for approximately 98% of the Company’s revenues during the period from August 22, 2020 through December 31, 2020. Delek and Enlink Crude Purchasing, LLC accounted for approximately 49% and 44%, respectively, of the Company’s revenues during the period from January 1, 2020 through August 21, 2020. Based on the current demand for crude oil and natural gas and the availability of other purchasers, management believes the loss of this major purchaser 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.