XML 27 R15.htm IDEA: XBRL DOCUMENT v3.24.3
Transactions with Affiliates
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Transactions with Affiliates Transactions with Affiliates
We enter into certain transactions in the normal course of business with affiliated entities. Activities with affiliates were as follows for the periods indicated (in thousands):

Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Crude oil purchases from affiliate (1)
$3,921 $9,362 $13,065 $13,940 
Rentals paid to affiliates of Scott Bosard (2)
146 125 434 405 
Billings to KSA and affiliates— — — 9 
Rentals paid to an affiliate of KSA— — — 232 
Payments to an affiliate of KSA for purchase of
  vehicles (3)
— — — 157 
_______________
(1)From time to time, GulfMark purchases crude oil from Endeavor Natural Gas, L.P., of which a member of our Board of Directors is the Managing Partner.
(2)In connection with the acquisition of Firebird and Phoenix on August 12, 2022, we entered into four operating lease agreements for office and terminal locations with entities owned by Scott Bosard, one of the sellers, for periods ranging from two to five years.
(3)Amount paid to West Point Buick GMC was for the purchase of three pickup trucks during the nine months ended September 30, 2023, and are net of trade-in values.
Affiliate transactions included direct cost reimbursement for shared phone and administrative services from KSA Industries, Inc. (“KSA”), a formerly affiliated entity. We lease our corporate office space in a building that was operated by 17 South Briar Hollow Lane, LLC, an affiliate of KSA, prior to its December 2023 sale to an unaffiliated entity. In addition, we purchase pickup trucks from West Point Buick GMC, an affiliate of KSA. KSA was our largest shareholder until October 31, 2022, when we repurchased the common stock owned by it. An affiliate of KSA served on our Board of Directors through the date of our 2023 annual meeting, when he retired. As of May 31, 2023, KSA and its affiliates are no longer related parties. The table above consequently does not reflect any payments to or from KSA and its affiliates after that date.