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Subsequent Events (unaudited) | 12 Months Ended
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Dec. 31, 2015
Subsequent Events [Abstract] |
Subsequent Events (unaudited) | Subsequent Events (unaudited) On January 25, 2016, the Company announced that it would proceed with an independent growth plan apart from Walmart rather than continue to acquire land from Walmart. In conjunction with this announcement, the Board of Directors approved a strategic allocation of capital for the Company to pursue new additional growth opportunities and to undertake a share repurchase program of the Company's common stock. The Board authorized up to $500 million in total for the two capital programs through December 31, 2017. On February 3, 2016, the Company announced that it had recently entered into an agreement with an undisclosed investment-grade buyer for the sale of the Company's interest in the CAM pipeline system for approximately $85 million, less customary closing costs. The CAM pipeline transports crude oil from the Louisiana Offshore Oil Port (LOOP) to 3 Gulf Coast refineries. This transaction is expected to close sometime in the first half of 2016, subject to customary closing conditions and regulatory approvals. On February 5, 2016, the Company entered into a Term Credit Agreement to secure a term loan in the aggregate principal amount of $100 million. The term loan has 2 options to calculate interest due and the Company has elected to utilize the LIBOR option which bears interest at a rate per annum equal to LIBOR plus 3.00%. The loan will amortize in quarterly installments starting with June 30, 2016 at a rate of 5.0% per quarter. Other terms and covenants can be found in the Current Report on Form 8-K filed with the SEC on February 9, 2016.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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