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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE FROM OPERATIONS        
Refined petroleum product sales $ 54,924,070 $ 87,846,757 $ 174,830,292 $ 310,938,981
Tank rental revenue 286,892 282,516 860,676 847,548
Pipeline operations 45,925 56,900 119,882 178,793
Total revenue from operations 55,256,887 88,186,173 175,810,850 311,965,322
COST OF OPERATIONS        
Cost of refined products sold 48,415,627 82,781,856 151,604,774 289,819,720
Refinery operating expenses 2,953,528 2,496,514 8,420,650 8,092,738
Joint Marketing Agreement profit share 1,435,376 1,094,383 4,812,674 2,334,487
Pipeline operating expenses 63,099 50,100 170,582 139,542
Lease operating expenses (1,143) 7,041 20,271 21,037
General and administrative expenses 312,365 253,437 1,058,267 1,049,981
Depletion, depreciation and amortization 414,837 393,871 1,217,005 1,175,643
Accretion expense 52,720 53,731 158,655 158,264
Total cost of operations 53,646,409 87,130,933 167,462,878 302,791,412
Income from operations 1,610,478 1,055,240 8,347,972 9,173,910
OTHER INCOME (EXPENSE)        
Easement, interest and other income 724,349 1,813 856,816 253,745
Interest expense $ (382,191) (214,407) $ (1,322,562) (675,586)
Loss on disposal of property and equipment (4,400) (4,400)
Total other income (expense) $ 342,158 (216,994) $ (465,746) (426,241)
Income before income taxes 1,952,636 838,246 7,882,226 8,747,669
Income tax expense (688,403) (22,199) (2,778,750) (298,792)
Net income $ 1,264,233 $ 816,047 $ 5,103,476 $ 8,448,877
Income per common share        
Basic $ 0.12 $ 0.08 $ 0.49 $ 0.81
Diluted $ 0.12 $ 0.08 $ 0.49 $ 0.81
Weighted average number of common shares outstanding:        
Basic 10,453,802 10,446,218 10,451,168 10,439,684
Diluted 10,453,802 10,446,218 10,451,168 10,439,684