Prepaid and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Prepaid and other current assets at December 31, 2023 and 2022 consisted of the following (in thousands):

	December 31,
	2023		2022
Advances to suppliers for crude purchases	$	65,531	$	—
Collateral posted with broker for derivative instruments (1)	21,763		40,788
Billings Acquisition deposit (2)	—		30,000
Prepaid insurance	20,235		15,639
Derivative assets	43,356		—
Prepaid environmental credits	20,756		—
Other	10,764		5,616
Total	$	182,405	$	92,043

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(1)Our cash margin that is required as collateral deposits on our commodity derivatives cannot be offset against the fair value of open contracts except in the event of default. Please read Note 15—Derivatives for further information.

(2)Please read Note 5—Acquisitions for further discussion.