Property, plant and equipment, net, consisted of the following (in thousands):


	March 31, 2026			December 31, 2025
Plant facilities associated with productive, depletable properties	$	311,151		$	311,105
Plant equipment		854,664			853,297
Land		8,897			8,897
Furniture and office equipment		5,864			5,330
Computer and network equipment		2,310			2,310
Buildings and leasehold improvements		54,631			54,434
Power equipment		98,443			89,923
Logistics equipment		563,183			559,256
Construction in progress		95,550			46,083
Property, plant and equipment		1,994,693			1,930,635
Less: Accumulated depreciation and depletion		(433,092	)		(389,822	)
Property, plant and equipment, net	$	1,561,601		$	1,540,813

Depreciation expense recognized in depreciation, depletion and accretion expense was $41.3 million and $33.2 million for the three months ended March 31, 2026 and 2025, respectively.

Depletion expense recognized in depreciation, depletion and accretion expense was $3.3 million and $3.4 million for the three months ended March 31, 2026 and 2025, respectively.

Depreciation expense recognized in selling, general and administrative expense was $1.7 million and $1.3 million for the three months ended March 31, 2026 and 2025, respectively.

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. The Company conducts its long-lived asset impairment analyses in accordance with ASC 360-10-15, “Impairment or Disposal of Long-Lived Assets.” The Company did not recognize impairment of long-lived assets or loss on disposal of assets for the three months ended March 31, 2026 and 2025.

For the three months ended March 31, 2026, the Company received certain insurance proceeds of $3.3 million. These proceeds were in connection with the disposal of a dredge asset that was damaged during commissioning at one of the Kermit facilities in the third quarter of 2024. The proceeds are recorded as insurance recovery (gain) on the condensed consolidated statements of operations and as cash and cash equivalents on the condensed consolidated balance sheets for the period ended March 31, 2026. There were no insurance proceeds received for the three months ended March 31, 2025.