COMMODITY DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The fair value of the crude oil futures agreements is based on the difference between the strike price and the New York Mercantile Exchange and Brent Complex futures price for the applicable trading months.

As of June 30, 2024
Contract Type	Contract Period	Weighted Average Strike Price (Barrels)		Remaining Volume (Barrels)	Fair Value
				(in thousands)	(in thousands)
Futures	Jun. 2024 - Aug. 2024	$	106.11	27	$	8
Futures	Jun. 2024 - Aug. 2024	$	81.28	14	$	(4)
Futures	Jul. 2024 - Sept. 2024	$	82.87	210	$	(447)

As of December 31, 2023
Contract Type	Contract Period	Weighted Average Strike Price (Barrels)		Remaining Volume (Barrels)	Fair Value
				(in thousands)	(in thousands)
Futures	Dec. 2023 - Feb. 2024	$	108.18	1	$	20
Futures	Dec. 2023 - Feb. 2024	$	110.33	4	$	(156)
Futures	Dec. 2023 - May. 2024	$	77.94	7	$	(63)
Futures	Dec. 2023 - May. 2024	$	49.94	60	$	632
Swap	Dec. 2023 - Jan. 2024	$	88.39	164	$	(372)
Swap	Dec. 2023 - Jan. 2024	$	25.55	100	$	(50)

Schedule of Fair Value of Derivative Instruments within Balance Sheet

The carrying values of the Company’s derivative positions and their locations on the consolidated balance sheets as of June 30, 2024 and December 31, 2023 are presented in the table below (in thousands):

Balance Sheet Classification	Contract Type	June 30, 2024		December 31, 2023
	Soybean oil future	$	—	$	632
	Crude oil future	8		—
	Crude oil swaps	—		(422)
	Crude oil futures	(451)		(199)
Derivative commodity asset (liability)		$	(443)	$	11