Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

The following tables reflect the disaggregation of our revenues by major category for the three months ended June 30, 2026 and 2025, respectively:


	Three Months Ended June 30, 2026
	Offshore pipeline transportation		Marine transportation		Onshore transportation and services		Consolidated
Fee-based revenues	$	160,147	$	80,943	$	17,216	$	258,306
Product sales	—		—		255,356		255,356
Sulfur services	—		—		18,333		18,333
Total revenues	$	160,147	$	80,943	$	290,905	$	531,995


	Three Months Ended June 30, 2025
	Offshore pipeline transportation		Marine transportation		Onshore transportation and services		Consolidated
Fee-based revenues	$	125,370	$	79,617	$	16,713	$	221,700
Product sales	—		—		137,885		137,885
Sulfur services	—		—		17,763		17,763
Total revenues	$	125,370	$	79,617	$	172,361	$	377,348

The following tables reflect the disaggregation of our revenues by major category for the six months ended June 30, 2026 and 2025, respectively:


	Six Months Ended June 30, 2026
	Offshore pipeline transportation		Marine transportation		Onshore transportation and services		Consolidated
Fee-based revenues	$	307,428	$	160,988	$	32,735	$	501,151
Product sales	—		—		443,968		443,968
Sulfur services	—		—		33,431		33,431
Total revenues	$	307,428	$	160,988	$	510,134	$	978,550


	Six Months Ended June 30, 2025
	Offshore pipeline transportation		Marine transportation		Onshore transportation and services		Consolidated
Fee-based revenues	$	234,257	$	160,261	$	30,218	$	424,736
Product sales	—		—		312,148		312,148
Sulfur services	—		—		38,775		38,775
Total revenues	$	234,257	$	160,261	$	381,141	$	775,659

Schedule of Contract Asset and Liabilities Balances Activity

The table below depicts our contract asset and liability balances at June 30, 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 June 30, 2026	2,596		4,813		43,940		138,226

During June 2026, we divested certain of our non-core natural gas pipeline and platform assets in our offshore pipeline transportation segment. As a part of this divestiture, we entered into a long-term agreement with the purchaser whereby we will continue to perform operation and maintenance services related to the divested assets. We received total consideration for our future services upon the execution of the agreement and we will recognize revenue associated with the contract over time as services are rendered.

For the six months ended June 30, 2026 and 2025, we recognized revenue of $13.0 million and $21.4 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	$	110,626	$	15,146
2027	165,169		12,917
2028	83,513		10,000
2029	50,240		2,500
2030	41,682		—
Thereafter	67,046		—
Total	$	518,276	$	40,563