v3.26.1
PROPERTY, PLANT, AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT, AND EQUIPMENT
5. PROPERTY, PLANT AND EQUIPMENT
Details on the Company’s property, plant and equipment follow.
December 31, 2025December 31, 2024
(In thousands)
Gathering and processing systems and related equipment$2,451,820 $2,372,881 
Construction in progress54,367 57,611 
Land and line fill16,311 12,816 
Other70,756 66,303 
Total
2,593,254 2,509,611 
Less: accumulated depreciation
(749,108)(724,582)
Property, plant and equipment, net
$1,844,146 $1,785,029 
When the carrying amount of a long-lived asset is not recoverable, an impairment is recognized equal to the excess of the asset’s carrying value over its fair value, which is based on inputs that are not observable in the market, and thus represent Level 3 inputs under GAAP’s fair value hierarchy. The Company recognized $2.7 million, $68.3 million, and $0.5 million of impairments during the fiscal years ended December 31, 2025, 2024, and 2023, respectively. The Company cannot predict the likelihood of future impairments, if any.
Depreciation expense and capitalized interest for the Company follow.
Year ended December 31,
202520242023
(In thousands)
Depreciation expense$98,876 $85,615 $95,307 
Capitalized interest1,785 1,164 1,284