Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

The following tables reflect the disaggregation of our revenues by major category for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31, 2026
	Offshore pipeline transportation		Marine transportation		Onshore transportation and services		Consolidated
Fee-based revenues	$	147,281	$	80,045	$	15,519	$	242,845
Product sales	—		—		188,612		188,612
Sulfur services	—		—		15,098		15,098
Total revenues	$	147,281	$	80,045	$	219,229	$	446,555


	Three Months Ended March 31, 2025
	Offshore pipeline transportation		Marine transportation		Onshore transportation and services		Consolidated
Fee-based revenues	$	108,887	$	80,644	$	13,505	$	203,036
Product sales	—		—		174,263		174,263
Sulfur services	—		—		21,012		21,012
Total revenues	$	108,887	$	80,644	$	208,780	$	398,311

Schedule of Contract Asset and Liabilities Balances Activity

The table below depicts our contract asset and liability balances at March 31, 2026 and December 31, 2025:


	Contract Assets				Contract Liabilities
	Current Assets - Other		Other Assets, net of amortization		Accrued Liabilities		Other Long-Term Liabilities
Balance at December 31, 2025	$	32	$	7,469	$	26,982	$	78,946
Balance at March 31, 2026	1,692		5,822		29,614		76,945

For the three months ended March 31, 2026 and 2025, we recognized revenue of $5.7 million and $11.0 million, respectively, that was included in contract liabilities at the beginning of the period.

Schedule of Revenue Expected to be Recognized in Future Periods

The following chart summarizes how we expect to recognize revenue for future periods related to these contracts:


	Offshore Pipeline Transportation		Onshore Transportation and Services
Remainder of 2026	$	156,605	$	22,549
2027	145,344		12,913
2028	64,211		10,000
2029	32,378		2,500
2030	23,142		—
Thereafter	67,015		—
Total	$	488,695	$	47,962