v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 2 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash Flows from Operating Activities:                
Net income $ 19,937 $ 29,654   $ 24,157 $ (5,634) $ 59,890 $ 18,523  
Adjustments to reconcile net income to net cash provided by operating activities:                
Depreciation, amortization, accretion expense           32,609 31,208  
Amortization of right-of-use assets           5,749 4,167  
Amortization of deferred financing cost           2,196 2,063  
Allowance for credit losses           9 4  
Loss (gain) on disposal of assets   507   (1,446)   421 (2,191)  
Equity-based compensation           4,708 0  
Deferred income tax           6,190 0  
Change in fair value of derivative liability   0   (2,100)   0 (800)  
Changes in operating assets and liabilities, net                
Accounts receivables           (10,936) (6,019)  
Inventories           (6,209) 375  
Prepaid expenses           1,338 1,347  
Other current assets - BTS           (7,021) 1,146  
Other current assets - Other           (1,374) (452)  
Account payable - Fuel           24,649 (1,541)  
Account payable - Other           21 (729)  
Accrued expenses and other current liabilities           (3,603) 3,534  
Lease liabilities           (2,642) (2,127)  
Other noncurrent liabilities           (1,094) 699  
Due to/(from) affiliates           24 25  
Net cash provided by operating activities           104,925 49,232  
Cash Flows from Investing Activities:                
Purchase of property and equipment           (35,133) (48,149)  
Acquisition of intangible assets           (10) (1,354)  
Proceeds from sale of assets           618 4,020  
Other investing activities           (2,593) (262)  
Net cash used in investing activities           (37,118) (45,745)  
Cash Flows from Financing Activities:                
Proceeds from revolver           0 15,000  
Repayment of revolver           (40,000) (15,000)  
Repayment of borrowings from term loan           (2,050) (2,050)  
Cash paid for debt issuance costs           (110) (599)  
Proceeds from financing obligation           2,489 2,868  
Repayment of financing obligation with lessors           (1,042) (982)  
Repayment of financing leases           (34) (32) $ (32)
Proceeds from issuance of common stock           301,070 0  
Cash paid for IPO issuance costs           (7,338) 0  
Distributions to redeemable senior preferred membership interests           (252,266) (579)  
Distributions to members           (23,510) (6,191)  
Distributions to noncontrolling interests           0 (26)  
Net cash used in financing activities           (22,791) (7,591)  
Increase (decrease) in cash and cash equivalents           45,016 (4,104)  
Cash and cash equivalents, beginning of period     $ 36,592   32,720 36,592 32,720 32,720
Cash and cash equivalents, end of period $ 81,608 81,608   28,616   81,608 28,616 $ 36,592
Cash paid for:                
Interest, net of amounts capitalized           23,304 27,036  
Income taxes           7 158  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:                
Fixed asset purchases in Accounts payable - Other           3,906 5,060  
Fixed asset purchases in Accrued expenses and other current liabilities           3,337 1,965  
Right-of-use assets acquired by assumption of operating leases           15,678 60,063  
Remeasurement of lease liabilities and Right-of-use assets           95 206  
Asset retirement obligations capitalized in fixed assets           38 237  
Accretion of Redeemable senior preferred membership interests   $ 2,236 $ 10,402 $ 8,744 $ 8,394 12,638 17,138  
Distribution to Non-controlling interests           0 (26)  
Recapitalization of Continuing Equity Owners           585,875 0  
Recording amounts payable pursuant to tax receivable agreement           92,263 0  
Recording deferred tax assets related to tax receivable agreement liability           41,627 0  
Allocation of equity to Non-controlling interests           $ 459,810 $ 0